Quadzero: 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.
Quadzero
Largest movements
- Receivables after one year +€51,212
up €51,212 (+127%), from €40,405 to €91,617
- Receivables within one year +€8,813
up €8,813 (+53.7%), from €16,409 to €25,222
of which Other amounts receivable: +€6,843
- Tangible fixed assets -€7,121
down €7,121 (-2.0%), from €360,168 to €353,048
of which Land and buildings: -€6,730
- Short-term financial debts +€50,000
new in 2025: €50,000
- Reserves +€29,491
up €29,491 (+24.3%), from €121,509 to €151,000
- Debts after one year -€14,968
down €14,968 (-5.0%), from €300,829 to €285,861
- Current portion of long-term debt -€8,074
down €8,074 (-35.0%), from €23,041 to €14,968
- Trade debts -€7,878
down €7,878 (-37.3%), from €21,097 to €13,218
- Financial charges +€7,799
up €7,799 (+80.2%), from €9,728 to €17,527
- Depreciation +€1,664
up €1,664 (+30.5%), from €5,456 to €7,121
- Financial income -€1,023
down €1,023 (-42.2%), from €2,425 to €1,402
- Taxes -€961
down €961 (-6.1%), from €15,881 to €14,920
- Other operating charges +€869
up €869 (+92.0%), from €944 to €1,812
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €502,235 | €552,732 | +€50,497 | +10.1% |
| Fixed assets | 21/28 | €361,168 | €354,048 | -€7,121 | -2.0% |
| Tangible fixed assets | 22/27 | €360,168 | €353,048 | -€7,121 | -2.0% |
| Land and buildings | 22 | €359,777 | €353,048 | -€6,730 | -1.9% |
| Plant, machinery and equipment | 23 | €391 | - | -€391 | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €141,067 | €198,684 | +€57,618 | +40.8% |
| Amounts receivable after more than one year | 29 | €40,405 | €91,617 | +€51,212 | +127% |
| Other amounts receivable | 291 | €40,405 | €91,617 | +€51,212 | +127% |
| Amounts receivable within one year | 40/41 | €16,409 | €25,222 | +€8,813 | +53.7% |
| Trade receivables | 40 | €16,409 | €18,380 | +€1,970 | +12.0% |
| Other amounts receivable | 41 | - | €6,843 | +€6,843 | |
| Current investments | 50/53 | €61,280 | €61,280 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,107 | €20,101 | -€2,006 | -9.1% |
| Deferred charges and accrued income | 490/1 | €866 | €465 | -€401 | -46.3% |
| Total equity and liabilities | 10/49 | €502,235 | €552,732 | +€50,497 | +10.1% |
| Equity | 10/15 | €122,509 | €152,408 | +€29,898 | +24.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €121,509 | €151,000 | +€29,491 | +24.3% |
| Distributable reserves | 133 | €121,509 | €151,000 | +€29,491 | +24.3% |
| Profit (loss) carried forward | 14 | - | €408 | +€408 | |
| Amounts payable | 17/49 | €379,725 | €400,324 | +€20,599 | +5.4% |
| Amounts payable after more than one year | 17 | €300,829 | €285,861 | -€14,968 | -5.0% |
| Financial debts | 170/4 | €300,829 | €285,861 | -€14,968 | -5.0% |
| Amounts payable within one year | 42/48 | €78,897 | €114,463 | +€35,566 | +45.1% |
| Current portion of amounts payable after more than one year | 42 | €23,041 | €14,968 | -€8,074 | -35.0% |
| Financial debts | 43 | - | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €21,097 | €13,218 | -€7,878 | -37.3% |
| Suppliers | 440/4 | €21,097 | €13,218 | -€7,878 | -37.3% |
| Taxes, remuneration and social security | 45 | €33,041 | €36,277 | +€3,237 | +9.8% |
| Taxes | 450/3 | €33,041 | €36,277 | +€3,237 | +9.8% |
| Other amounts payable | 47/48 | €1,718 | - | -€1,718 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,456 | €7,121 | +€1,664 | +30.5% |
| Other operating charges | 640/8 | €944 | €1,812 | +€869 | +92.0% |
| Gross operating margin | 9900 | €70,260 | €69,877 | -€383 | -0.5% |
| Operating profit (loss) | 9901 | €63,860 | €60,944 | -€2,916 | -4.6% |
| Financial income | 75/76B | €2,425 | €1,402 | -€1,023 | -42.2% |
| Recurring financial income | 75 | €2,425 | €1,402 | -€1,023 | -42.2% |
| Financial charges | 65/66B | €9,728 | €17,527 | +€7,799 | +80.2% |
| Recurring financial charges | 65 | €9,728 | €17,527 | +€7,799 | +80.2% |
| Profit (loss) for the period before taxes | 9903 | €56,557 | €44,819 | -€11,738 | -20.8% |
| Income taxes | 67/77 | €15,881 | €14,920 | -€961 | -6.1% |
| Profit (loss) for the period | 9904 | €40,676 | €29,898 | -€10,778 | -26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,676 | €29,898 | -€10,778 | -26.5% |
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 20 October 2026 via checked.be.