QUADRIMMO: 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.
QUADRIMMO
Largest movements
- Cash +€20,676
up €20,676 (+5.4%), from €383,887 to €404,563
mainly Net result for the year (+€46,453) and Other debts (+€19,577)
- Receivables within one year +€12,452
up €12,452 (+40.3%), from €30,915 to €43,366
of which Trade receivables: +€13,404
- Tangible fixed assets -€9,994
down €9,994 (-4.7%), from €212,586 to €202,592
- Other debts +€19,577
new in 2025: €19,577
- Reserves +€18,775
up €18,775 (+11.9%), from €157,976 to €176,750
of which Distributable reserves: +€18,775
- Debts after one year -€16,694
down €16,694 (-49.0%), from €34,067 to €17,373
- Other operating charges +€2,209
up €2,209 (+16.8%), from €13,153 to €15,362
- Depreciation -€2,092
down €2,092 (-17.3%), from €12,086 to €9,994
- Gross operating margin +€1,737
up €1,737 (+1.9%), from €92,751 to €94,488
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 | €676,281 | €699,435 | +€23,154 | +3.4% |
| Fixed assets | 21/28 | €212,586 | €202,592 | -€9,994 | -4.7% |
| Tangible fixed assets | 22/27 | €212,586 | €202,592 | -€9,994 | -4.7% |
| Land and buildings | 22 | €212,586 | €202,592 | -€9,994 | -4.7% |
| Current assets | 29/58 | €463,695 | €496,843 | +€33,148 | +7.1% |
| Amounts receivable within one year | 40/41 | €30,915 | €43,366 | +€12,452 | +40.3% |
| Trade receivables | 40 | €14,355 | €27,759 | +€13,404 | +93.4% |
| Other amounts receivable | 41 | €16,560 | €15,607 | -€953 | -5.8% |
| Current investments | 50/53 | €48,502 | €48,502 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €383,887 | €404,563 | +€20,676 | +5.4% |
| Deferred charges and accrued income | 490/1 | €392 | €411 | +€20 | +5.1% |
| Total equity and liabilities | 10/49 | €676,281 | €699,435 | +€23,154 | +3.4% |
| Equity | 10/15 | €618,654 | €637,428 | +€18,775 | +3.0% |
| Contributions | 10/11 | €223,500 | €223,500 | = | 0.0% |
| Capital | 10 | €223,500 | €223,500 | = | 0.0% |
| Issued capital | 100 | €223,500 | €223,500 | = | 0.0% |
| Reserves | 13 | €157,976 | €176,750 | +€18,775 | +11.9% |
| Non-distributable reserves | 130/1 | €22,350 | €22,350 | = | 0.0% |
| Legal reserve | 130 | €22,350 | €22,350 | = | 0.0% |
| Distributable reserves | 133 | €135,626 | €154,400 | +€18,775 | +13.8% |
| Profit (loss) carried forward | 14 | €237,178 | €237,178 | = | 0.0% |
| Amounts payable | 17/49 | €57,627 | €62,007 | +€4,379 | +7.6% |
| Amounts payable after more than one year | 17 | €34,067 | €17,373 | -€16,694 | -49.0% |
| Financial debts | 170/4 | €34,067 | €17,373 | -€16,694 | -49.0% |
| Amounts payable within one year | 42/48 | €22,716 | €43,789 | +€21,073 | +92.8% |
| Current portion of amounts payable after more than one year | 42 | €16,040 | €16,694 | +€654 | +4.1% |
| Trade debts | 44 | €1,085 | €1,489 | +€404 | +37.2% |
| Suppliers | 440/4 | €1,085 | €1,489 | +€404 | +37.2% |
| Taxes, remuneration and social security | 45 | €5,590 | €6,029 | +€439 | +7.9% |
| Taxes | 450/3 | €5,590 | €6,029 | +€439 | +7.9% |
| Other amounts payable | 47/48 | - | €19,577 | +€19,577 | |
| Accrued charges and deferred income | 492/3 | €845 | €845 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,086 | €9,994 | -€2,092 | -17.3% |
| Other operating charges | 640/8 | €13,153 | €15,362 | +€2,209 | +16.8% |
| Gross operating margin | 9900 | €92,751 | €94,488 | +€1,737 | +1.9% |
| Operating profit (loss) | 9901 | €67,511 | €69,133 | +€1,621 | +2.4% |
| Financial income | 75/76B | €210 | €764 | +€554 | +264.0% |
| Recurring financial income | 75 | €210 | €764 | +€554 | +264.0% |
| Financial charges | 65/66B | €2,394 | €1,766 | -€628 | -26.2% |
| Recurring financial charges | 65 | €2,394 | €1,766 | -€628 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €65,327 | €68,130 | +€2,803 | +4.3% |
| Income taxes | 67/77 | €20,740 | €21,678 | +€938 | +4.5% |
| Profit (loss) for the period | 9904 | €44,587 | €46,453 | +€1,866 | +4.2% |
| Transfer from tax-exempt reserves | 789 | €31,575 | - | -€31,575 | |
| Profit (loss) for the period to be appropriated | 9905 | €76,162 | €46,453 | -€29,709 | -39.0% |
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 28 September 2026 via checked.be.