Quadvo: 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.
Quadvo
Largest movements
- Tangible fixed assets -€13,388
down €13,388 (-11.1%), from €120,868 to €107,480
of which Furniture and vehicles: -€9,478
- Cash -€8,942
down €8,942 (-24.6%), from €36,407 to €27,465
mainly Contributions, distributions and other (-€30,652) and Debts after one year (-€22,462)
- Intangible fixed assets -€2,125
down €2,125 (-26.4%), from €8,046 to €5,921
- Debts after one year -€22,462
down €22,462 (-67.7%), from €33,200 to €10,738
- Reserves +€8,797
up €8,797 (+11.9%), from €73,658 to €82,455
- Current portion of long-term debt -€4,803
down €4,803 (-17.6%), from €27,265 to €22,462
- Other debts +€4,578
up €4,578 (+17.6%), from €26,074 to €30,652
- Tax, wage and social debts -€3,036
down €3,036 (-26.5%), from €11,457 to €8,421
- Gross operating margin -€25,596
down €25,596 (-27.6%), from €92,835 to €67,239
- Taxes -€5,033
down €5,033 (-34.8%), from €14,448 to €9,415
- Financial income +€1,452
up €1,452 (+297.8%), from €488 to €1,940
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 | €197,366 | €174,581 | -€22,786 | -11.5% |
| Fixed assets | 21/28 | €128,914 | €113,401 | -€15,513 | -12.0% |
| Intangible fixed assets | 21 | €8,046 | €5,921 | -€2,125 | -26.4% |
| Tangible fixed assets | 22/27 | €120,868 | €107,480 | -€13,388 | -11.1% |
| Land and buildings | 22 | €89,614 | €86,414 | -€3,200 | -3.6% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €29,309 | €19,831 | -€9,478 | -32.3% |
| Other tangible fixed assets | 26 | €1,944 | €1,234 | -€710 | -36.5% |
| Current assets | 29/58 | €68,452 | €61,180 | -€7,272 | -10.6% |
| Amounts receivable within one year | 40/41 | €32,017 | €33,688 | +€1,671 | +5.2% |
| Trade receivables | 40 | €29,219 | €23,182 | -€6,037 | -20.7% |
| Other amounts receivable | 41 | €2,798 | €10,506 | +€7,708 | +275.5% |
| Cash at bank and in hand | 54/58 | €36,407 | €27,465 | -€8,942 | -24.6% |
| Deferred charges and accrued income | 490/1 | €28 | €27 | -€1 | -3.8% |
| Total equity and liabilities | 10/49 | €197,366 | €174,581 | -€22,786 | -11.5% |
| Equity | 10/15 | €79,858 | €88,655 | +€8,797 | +11.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €73,658 | €82,455 | +€8,797 | +11.9% |
| Distributable reserves | 133 | €73,658 | €82,455 | +€8,797 | +11.9% |
| Amounts payable | 17/49 | €117,508 | €85,926 | -€31,583 | -26.9% |
| Amounts payable after more than one year | 17 | €33,200 | €10,738 | -€22,462 | -67.7% |
| Financial debts | 170/4 | €33,200 | €10,738 | -€22,462 | -67.7% |
| Amounts payable within one year | 42/48 | €84,309 | €75,188 | -€9,120 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €27,265 | €22,462 | -€4,803 | -17.6% |
| Financial debts | 43 | €3,807 | €1,696 | -€2,111 | -55.5% |
| Credit institutions | 430/8 | €3,807 | €1,696 | -€2,111 | -55.5% |
| Trade debts | 44 | €9,736 | €7,434 | -€2,301 | -23.6% |
| Suppliers | 440/4 | €9,736 | €7,434 | -€2,301 | -23.6% |
| Advances received on contracts in progress | 46 | €5,970 | €4,523 | -€1,447 | -24.2% |
| Taxes, remuneration and social security | 45 | €11,457 | €8,421 | -€3,036 | -26.5% |
| Taxes | 450/3 | €11,457 | €8,421 | -€3,036 | -26.5% |
| Other amounts payable | 47/48 | €26,074 | €30,652 | +€4,578 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,753 | €15,991 | +€238 | +1.5% |
| Other operating charges | 640/8 | €2,071 | €2,403 | +€332 | +16.0% |
| Gross operating margin | 9900 | €92,835 | €67,239 | -€25,596 | -27.6% |
| Operating profit (loss) | 9901 | €75,011 | €48,845 | -€26,166 | -34.9% |
| Financial income | 75/76B | €488 | €1,940 | +€1,452 | +297.8% |
| Recurring financial income | 75 | €488 | €1,940 | +€1,452 | +297.8% |
| Financial charges | 65/66B | €2,612 | €1,921 | -€691 | -26.5% |
| Recurring financial charges | 65 | €2,612 | €1,921 | -€691 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €72,887 | €48,864 | -€24,023 | -33.0% |
| Income taxes | 67/77 | €14,448 | €9,415 | -€5,033 | -34.8% |
| Profit (loss) for the period | 9904 | €58,439 | €39,449 | -€18,990 | -32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €58,439 | €39,449 | -€18,990 | -32.5% |
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 4 October 2026 via checked.be.