Quadrigi: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Quadrigi
Largest movements
- Cash -€24,097
down €24,097 (-47.4%), from €50,795 to €26,698
mainly Net result for the year (-€36,407) and Investment in fixed assets (net) (-€4,197)
- Receivables within one year -€9,226
down €9,226 (-45.9%), from €20,123 to €10,896
of which Trade receivables: -€6,267
- Tangible fixed assets -€7,595
down €7,595 (-15.5%), from €49,080 to €41,485
- Reserves -€36,407
down €36,407 (-46.8%), from €77,826 to €41,419
- Current portion of long-term debt -€3,935
down €3,935 (-100.0%), from €3,935 to €0
- Depreciation -€11,361
down €11,361 (-49.1%), from €23,152 to €11,792
- Gross operating margin -€6,149
down €6,149 (-34.6%), from -€17,790 to -€23,939
- Other operating charges -€799
down €799 (-64.9%), from €1,232 to €433
- Taxes -€364
down €364 (-68.7%), from €529 to €165
- Financial charges -€290
down €290 (-78.7%), from €368 to €78
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €119,998 | €79,080 | -€40,918 | -34.1% |
| Fixed assets | 21/28 | €49,080 | €41,485 | -€7,595 | -15.5% |
| Tangible fixed assets | 22/27 | €49,080 | €41,485 | -€7,595 | -15.5% |
| Land and buildings | 22 | €14,830 | €12,342 | -€2,488 | -16.8% |
| Plant, machinery and equipment | 23 | €9,526 | €5,886 | -€3,640 | -38.2% |
| Furniture and vehicles | 24 | €4,718 | €3,251 | -€1,467 | -31.1% |
| Other tangible fixed assets | 26 | €20,007 | €20,007 | = | 0.0% |
| Current assets | 29/58 | €70,918 | €37,595 | -€33,323 | -47.0% |
| Amounts receivable within one year | 40/41 | €20,123 | €10,896 | -€9,226 | -45.9% |
| Trade receivables | 40 | €15,335 | €9,068 | -€6,267 | -40.9% |
| Other amounts receivable | 41 | €4,788 | €1,829 | -€2,959 | -61.8% |
| Cash at bank and in hand | 54/58 | €50,795 | €26,698 | -€24,097 | -47.4% |
| Total equity and liabilities | 10/49 | €119,998 | €79,080 | -€40,918 | -34.1% |
| Equity | 10/15 | €80,326 | €43,919 | -€36,407 | -45.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €77,826 | €41,419 | -€36,407 | -46.8% |
| Distributable reserves | 133 | €77,826 | €41,419 | -€36,407 | -46.8% |
| Amounts payable | 17/49 | €39,672 | €35,161 | -€4,511 | -11.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €39,672 | €35,161 | -€4,511 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €3,935 | €0 | -€3,935 | -100.0% |
| Trade debts | 44 | €932 | €852 | -€81 | -8.6% |
| Suppliers | 440/4 | €932 | €852 | -€81 | -8.6% |
| Taxes, remuneration and social security | 45 | €1,074 | €529 | -€544 | -50.7% |
| Taxes | 450/3 | €1,074 | €529 | -€544 | -50.7% |
| Other amounts payable | 47/48 | €33,731 | €33,779 | +€48 | +0.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €1,125 | €0 | -€1,125 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,152 | €11,792 | -€11,361 | -49.1% |
| Other operating charges | 640/8 | €1,232 | €433 | -€799 | -64.9% |
| Gross operating margin | 9900 | -€17,790 | -€23,939 | -€6,149 | -34.6% |
| Operating profit (loss) | 9901 | -€42,174 | -€36,163 | +€6,011 | +14.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €368 | €78 | -€290 | -78.7% |
| Recurring financial charges | 65 | €368 | €78 | -€290 | -78.7% |
| Profit (loss) for the period before taxes | 9903 | -€42,542 | -€36,242 | +€6,300 | +14.8% |
| Income taxes | 67/77 | €529 | €165 | -€364 | -68.7% |
| Profit (loss) for the period | 9904 | -€43,071 | -€36,407 | +€6,664 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,071 | -€36,407 | +€6,664 | +15.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.