QUADROSS STABLES: 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.
What changed
QUADROSS STABLES
NACE 01.430, Raising of horses and other equines
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€79,575
2024 · -€2,154+€81,729
Equity
€208,025
2024 · €128,450+€79,575
Cash
€21,716
2024 · €558+€21,159
Balance sheet total
€1.6m
2024 · €1.5m+€69,105
Largest movements
Assets
- Tangible fixed assets +€26,860
up €26,860 (+2.0%), from €1.3m to €1.3m
of which Furniture and vehicles: +€16,743
- Cash +€21,159
up €21,159 (+3,795%), from €558 to €21,716
mainly Net result for the year (+€79,575) and Depreciation (+€32,252)
- Stocks and contracts +€17,828
up €17,828 (+28.1%), from €63,503 to €81,332
Equity and liabilities
- Profit (loss) carried forward +€79,575
up €79,575 (+19.6%), from -€406,337 to -€326,762
- Debts after one year -€43,992
down €43,992 (-3.7%), from €1.2m to €1.1m
Income statement
- Gross operating margin -€13,291
down €13,291 (-7.7%), from €171,718 to €158,426
- Financial charges +€6,513
up €6,513 (+22.7%), from €28,686 to €35,199
- Other operating charges +€6,085
up €6,085 (+117%), from €5,193 to €11,278
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.
Result 2024
-€2,154
Gross operating margin
-€13,291
Depreciation
+€88
Other operating charges
-€6,085
Other operating items
+€107,652
Financial income
+€13
Financial charges
-€6,513
Taxes
-€135
Result 2025
€79,575
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€122,136
Investment
-€59,062
Financing
-€41,916
Cash 2024
€558
From operations (derived)
+€122,136
Net result for the year
+€79,575
Depreciation
+€32,252
Stocks and contracts
-€17,828
Receivables within one year
-€2,117
Deferred charges and accrued income
-€1,191
Trade debts
+€5,045
Tax, wage and social debts
+€3,256
Other debts
+€9,864
Accrued charges and deferred income
+€13,282
Investment (derived)
-€59,062
Investment in fixed assets (net)
-€59,062
Financing
-€41,916
Debts after one year
-€43,992
Current portion of long-term debt
+€1,553
Short-term financial debts
+€523
Cash 2025
€21,716
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,485,904 | €1,555,009 | +€69,105 | +4.7% |
| Fixed assets | 21/28 | €1,317,656 | €1,344,466 | +€26,810 | +2.0% |
| Intangible fixed assets | 21 | €500 | €450 | -€50 | -10.0% |
| Tangible fixed assets | 22/27 | €1,317,156 | €1,344,016 | +€26,860 | +2.0% |
| Land and buildings | 22 | €1,306,053 | €1,308,265 | +€2,212 | +0.2% |
| Plant, machinery and equipment | 23 | €5,374 | €13,279 | +€7,905 | +147% |
| Furniture and vehicles | 24 | €5,729 | €22,472 | +€16,743 | +292% |
| Current assets | 29/58 | €168,248 | €210,543 | +€42,295 | +25.1% |
| Stocks and contracts in progress | 3 | €63,503 | €81,332 | +€17,828 | +28.1% |
| Stocks | 30/36 | €63,503 | €81,332 | +€17,828 | +28.1% |
| Amounts receivable within one year | 40/41 | €102,257 | €104,374 | +€2,117 | +2.1% |
| Trade receivables | 40 | €102,257 | €104,374 | +€2,117 | +2.1% |
| Cash at bank and in hand | 54/58 | €558 | €21,716 | +€21,159 | +3,795% |
| Deferred charges and accrued income | 490/1 | €1,930 | €3,121 | +€1,191 | +61.7% |
| Total equity and liabilities | 10/49 | €1,485,904 | €1,555,009 | +€69,105 | +4.7% |
| Equity | 10/15 | €128,450 | €208,025 | +€79,575 | +62.0% |
| Contributions | 10/11 | €62,200 | €62,200 | = | 0.0% |
| Revaluation surpluses | 12 | €471,070 | €471,070 | = | 0.0% |
| Reserves | 13 | €1,517 | €1,517 | = | 0.0% |
| Distributable reserves | 133 | €1,517 | €1,517 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€406,337 | -€326,762 | +€79,575 | +19.6% |
| Amounts payable | 17/49 | €1,357,454 | €1,346,984 | -€10,470 | -0.8% |
| Amounts payable after more than one year | 17 | €1,174,829 | €1,130,837 | -€43,992 | -3.7% |
| Financial debts | 170/4 | €1,174,829 | €1,130,837 | -€43,992 | -3.7% |
| Amounts payable within one year | 42/48 | €134,281 | €154,521 | +€20,240 | +15.1% |
| Current portion of amounts payable after more than one year | 42 | €40,297 | €41,850 | +€1,553 | +3.9% |
| Financial debts | 43 | €33,999 | €34,523 | +€523 | +1.5% |
| Credit institutions | 430/8 | €33,999 | €34,523 | +€523 | +1.5% |
| Trade debts | 44 | €9,943 | €14,987 | +€5,045 | +50.7% |
| Suppliers | 440/4 | €9,943 | €14,987 | +€5,045 | +50.7% |
| Taxes, remuneration and social security | 45 | €1,562 | €4,818 | +€3,256 | +208% |
| Taxes | 450/3 | €1,562 | €4,818 | +€3,256 | +208% |
| Other amounts payable | 47/48 | €48,480 | €58,344 | +€9,864 | +20.3% |
| Accrued charges and deferred income | 492/3 | €48,345 | €61,626 | +€13,282 | +27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,341 | €32,252 | -€88 | -0.3% |
| Other operating charges | 640/8 | €5,193 | €11,278 | +€6,085 | +117% |
| Non-recurring operating charges | 66A | €107,652 | - | -€107,652 | |
| Gross operating margin | 9900 | €171,718 | €158,426 | -€13,291 | -7.7% |
| Operating profit (loss) | 9901 | €26,532 | €114,896 | +€88,364 | +333% |
| Financial income | 75/76B | - | €13 | +€13 | |
| Recurring financial income | 75 | - | €13 | +€13 | |
| Financial charges | 65/66B | €28,686 | €35,199 | +€6,513 | +22.7% |
| Recurring financial charges | 65 | €28,686 | €35,199 | +€6,513 | +22.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,154 | €79,710 | +€81,864 | |
| Income taxes | 67/77 | - | €135 | +€135 | |
| Profit (loss) for the period | 9904 | -€2,154 | €79,575 | +€81,729 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,154 | €79,575 | +€81,729 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.