Quadrum: 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.
Quadrum
Largest movements
- Receivables after one year -€159,600
no longer reported in 2025 (was €159,600)
- Cash -€73,961
down €73,961 (-73.7%), from €100,365 to €26,404
mainly Debts after one year (-€361,363) and Receivables within one year (-€30,204)
- Tangible fixed assets -€54,251
down €54,251 (-1.9%), from €2.8m to €2.8m
- Debts after one year -€361,363
down €361,363 (-16.7%), from €2.2m to €1.8m
of which Other amounts payable: -€210,000
- Reserves +€95,727
up €95,727 (+25.0%), from €383,083 to €478,810
of which Distributable reserves: +€95,727
- Financial charges -€11,108
down €11,108 (-15.7%), from €70,964 to €59,856
- Taxes +€2,876
up €2,876 (+9.9%), from €29,033 to €31,909
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 | €3,111,481 | €2,850,894 | -€260,587 | -8.4% |
| Fixed assets | 21/28 | €2,812,775 | €2,758,525 | -€54,251 | -1.9% |
| Tangible fixed assets | 22/27 | €2,812,775 | €2,758,525 | -€54,251 | -1.9% |
| Land and buildings | 22 | €2,812,775 | €2,758,525 | -€54,251 | -1.9% |
| Current assets | 29/58 | €298,705 | €92,369 | -€206,336 | -69.1% |
| Amounts receivable after more than one year | 29 | €159,600 | - | -€159,600 | |
| Trade receivables | 290 | €159,600 | - | -€159,600 | |
| Amounts receivable within one year | 40/41 | €35,761 | €65,965 | +€30,204 | +84.5% |
| Trade receivables | 40 | €32,791 | €65,841 | +€33,050 | +100.8% |
| Other amounts receivable | 41 | €2,970 | €124 | -€2,846 | -95.8% |
| Cash at bank and in hand | 54/58 | €100,365 | €26,404 | -€73,961 | -73.7% |
| Deferred charges and accrued income | 490/1 | €2,979 | - | -€2,979 | |
| Total equity and liabilities | 10/49 | €3,111,481 | €2,850,894 | -€260,587 | -8.4% |
| Equity | 10/15 | €444,583 | €540,310 | +€95,727 | +21.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €383,083 | €478,810 | +€95,727 | +25.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €376,933 | €472,660 | +€95,727 | +25.4% |
| Amounts payable | 17/49 | €2,666,898 | €2,310,584 | -€356,314 | -13.4% |
| Amounts payable after more than one year | 17 | €2,157,773 | €1,796,410 | -€361,363 | -16.7% |
| Financial debts | 170/4 | €1,907,773 | €1,756,410 | -€151,363 | -7.9% |
| Other amounts payable | 178/9 | €250,000 | €40,000 | -€210,000 | -84.0% |
| Amounts payable within one year | 42/48 | €503,700 | €513,374 | +€9,674 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €148,425 | €151,363 | +€2,938 | +2.0% |
| Trade debts | 44 | €322,941 | €322,940 | -€1 | 0.0% |
| Suppliers | 440/4 | €322,941 | €322,940 | -€1 | 0.0% |
| Taxes, remuneration and social security | 45 | €32,334 | €35,207 | +€2,873 | +8.9% |
| Taxes | 450/3 | €32,334 | €35,207 | +€2,873 | +8.9% |
| Other amounts payable | 47/48 | - | €3,864 | +€3,864 | |
| Accrued charges and deferred income | 492/3 | €5,425 | €800 | -€4,625 | -85.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,251 | €54,251 | +€0 | 0.0% |
| Other operating charges | 640/8 | €9,519 | €9,863 | +€344 | +3.6% |
| Gross operating margin | 9900 | €251,348 | €251,606 | +€258 | +0.1% |
| Operating profit (loss) | 9901 | €187,578 | €187,493 | -€86 | 0.0% |
| Financial income | 75/76B | €2,209 | - | -€2,209 | |
| Recurring financial income | 75 | €2,209 | - | -€2,209 | |
| Financial charges | 65/66B | €70,964 | €59,856 | -€11,108 | -15.7% |
| Recurring financial charges | 65 | €70,964 | €59,856 | -€11,108 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €118,823 | €127,636 | +€8,814 | +7.4% |
| Income taxes | 67/77 | €29,033 | €31,909 | +€2,876 | +9.9% |
| Profit (loss) for the period | 9904 | €89,790 | €95,727 | +€5,938 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €89,790 | €95,727 | +€5,938 | +6.6% |
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.