QUADRINVEST: what changed
Two financial 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.
QUADRINVEST
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+140.4%), from €1.1m to €2.6m
of which Land and buildings: +€1.5m
- Receivables within one year +€303,542
up €303,542 (+121.3%), from €250,302 to €553,844
of which Trade receivables: +€279,232
- Debts after one year +€1.2m
up €1.2m (+196.0%), from €602,711 to €1.8m
- Other debts +€678,078
up €678,078 (+78.3%), from €865,923 to €1.5m
- Profit (loss) carried forward -€77,461
down €77,461 (-44.7%), from -€173,194 to -€250,654
- Current portion of long-term debt +€45,052
up €45,052 (+96.8%), from €46,549 to €91,601
- Financial charges +€25,005
up €25,005 (+216.9%), from €11,530 to €36,534
- Gross operating margin -€24,816
down €24,816 (-50.8%), from €48,895 to €24,079
- Depreciation +€21,250
up €21,250 (+46.4%), from €45,822 to €67,072
- Financial income +€13,179
new in 2025: €13,179
- Staff costs -€3,981
down €3,981 (-77.4%), from €5,146 to €1,165
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 | €1,392,805 | €3,199,066 | +€1.8m | +129.7% |
| Fixed assets | 21/28 | €1,129,026 | €2,635,811 | +€1.5m | +133.5% |
| Tangible fixed assets | 22/27 | €1,073,136 | €2,579,921 | +€1.5m | +140.4% |
| Land and buildings | 22 | €1,054,498 | €2,516,403 | +€1.5m | +138.6% |
| Plant, machinery and equipment | 23 | €7,246 | €34,026 | +€26,780 | +369.6% |
| Furniture and vehicles | 24 | €11,392 | €29,493 | +€18,101 | +158.9% |
| Financial fixed assets | 28 | €55,890 | €55,890 | = | 0.0% |
| Current assets | 29/58 | €263,779 | €563,254 | +€299,476 | +113.5% |
| Amounts receivable within one year | 40/41 | €250,302 | €553,844 | +€303,542 | +121.3% |
| Trade receivables | 40 | €218,805 | €498,037 | +€279,232 | +127.6% |
| Other amounts receivable | 41 | €31,497 | €55,807 | +€24,310 | +77.2% |
| Cash at bank and in hand | 54/58 | €8,881 | €9,305 | +€425 | +4.8% |
| Deferred charges and accrued income | 490/1 | €4,596 | €105 | -€4,491 | -97.7% |
| Total equity and liabilities | 10/49 | €1,392,805 | €3,199,066 | +€1.8m | +129.7% |
| Equity | 10/15 | -€165,134 | -€242,594 | -€77,461 | -46.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€173,194 | -€250,654 | -€77,461 | -44.7% |
| Amounts payable | 17/49 | €1,557,939 | €3,441,660 | +€1.9m | +120.9% |
| Amounts payable after more than one year | 17 | €602,711 | €1,783,890 | +€1.2m | +196.0% |
| Financial debts | 170/4 | €602,711 | €1,783,890 | +€1.2m | +196.0% |
| Amounts payable within one year | 42/48 | €955,228 | €1,657,770 | +€702,542 | +73.5% |
| Current portion of amounts payable after more than one year | 42 | €46,549 | €91,601 | +€45,052 | +96.8% |
| Trade debts | 44 | €37,697 | €19,352 | -€18,344 | -48.7% |
| Suppliers | 440/4 | €37,697 | €19,352 | -€18,344 | -48.7% |
| Taxes, remuneration and social security | 45 | €5,060 | €2,816 | -€2,244 | -44.3% |
| Taxes | 450/3 | €5,060 | €2,816 | -€2,244 | -44.3% |
| Other amounts payable | 47/48 | €865,923 | €1,544,001 | +€678,078 | +78.3% |
| Remuneration, social security and pensions | 62 | €5,146 | €1,165 | -€3,981 | -77.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,822 | €67,072 | +€21,250 | +46.4% |
| Other operating charges | 640/8 | €6,653 | €9,947 | +€3,294 | +49.5% |
| Gross operating margin | 9900 | €48,895 | €24,079 | -€24,816 | -50.8% |
| Operating profit (loss) | 9901 | -€8,726 | -€54,105 | -€45,380 | -520.1% |
| Financial income | 75/76B | - | €13,179 | +€13,179 | |
| Recurring financial income | 75 | - | €13,179 | +€13,179 | |
| Financial charges | 65/66B | €11,530 | €36,534 | +€25,005 | +216.9% |
| Recurring financial charges | 65 | €11,530 | €36,534 | +€25,005 | +216.9% |
| Profit (loss) for the period before taxes | 9903 | -€20,255 | -€77,461 | -€57,205 | -282.4% |
| Profit (loss) for the period | 9904 | -€20,255 | -€77,461 | -€57,205 | -282.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,255 | -€77,461 | -€57,205 | -282.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.