QUAESTOR E V: 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.
QUAESTOR E V
Largest movements
- Cash +€7.7m
up €7.7m (+4166.0%), from €185,005 to €7.9m
mainly Contributions, distributions and other (+€9.5m) and Current investments (+€1.2m)
- Financial fixed assets +€2.8m
up €2.8m (+4.6%), from €59.3m to €62.1m
- Current investments -€1.2m
down €1.2m (-100.0%), from €1.2m to €0
- Contributions +€9.5m
up €9.5m (+15.3%), from €62.1m to €71.6m
- Financial income +€156,044
up €156,044 (+43.7%), from €357,305 to €513,349
of which Non-recurring financial income: +€237,192
- Gross operating margin -€127,062
down €127,062 (-20.1%), from -€631,657 to -€758,719
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 | €60,736,658 | €69,994,822 | +€9.3m | +15.2% |
| Formation expenses | 20 | €2,051 | €460 | -€1,591 | -77.6% |
| Fixed assets | 21/28 | €59,349,281 | €62,101,642 | +€2.8m | +4.6% |
| Financial fixed assets | 28 | €59,349,281 | €62,101,642 | +€2.8m | +4.6% |
| Current assets | 29/58 | €1,385,327 | €7,892,720 | +€6.5m | +469.7% |
| Current investments | 50/53 | €1,200,000 | €0 | -€1.2m | -100.0% |
| Cash at bank and in hand | 54/58 | €185,005 | €7,892,267 | +€7.7m | +4166.0% |
| Deferred charges and accrued income | 490/1 | €321 | €453 | +€131 | +40.9% |
| Total equity and liabilities | 10/49 | €60,736,658 | €69,994,822 | +€9.3m | +15.2% |
| Equity | 10/15 | €60,566,529 | €69,792,024 | +€9.2m | +15.2% |
| Contributions | 10/11 | €62,077,500 | €71,553,000 | +€9.5m | +15.3% |
| Profit (loss) carried forward | 14 | -€1,510,971 | -€1,760,976 | -€250,004 | -16.5% |
| Amounts payable | 17/49 | €170,129 | €202,797 | +€32,668 | +19.2% |
| Amounts payable within one year | 42/48 | €170,129 | €202,797 | +€32,668 | +19.2% |
| Trade debts | 44 | €170,129 | €202,797 | +€32,668 | +19.2% |
| Suppliers | 440/4 | €170,129 | €202,797 | +€32,668 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,591 | €1,591 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,179 | €1,214 | +€36 | +3.0% |
| Gross operating margin | 9900 | -€631,657 | -€758,719 | -€127,062 | -20.1% |
| Operating profit (loss) | 9901 | -€634,426 | -€761,524 | -€127,097 | -20.0% |
| Financial income | 75/76B | €357,305 | €513,349 | +€156,044 | +43.7% |
| Recurring financial income | 75 | €105,217 | €24,070 | -€81,147 | -77.1% |
| Non-recurring financial income | 76B | €252,088 | €489,279 | +€237,192 | +94.1% |
| Financial charges | 65/66B | €1,950 | €1,829 | -€121 | -6.2% |
| Recurring financial charges | 65 | €1,950 | €1,829 | -€121 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | -€279,072 | -€250,004 | +€29,068 | +10.4% |
| Income taxes | 67/77 | -€212 | €0 | +€212 | |
| Profit (loss) for the period | 9904 | -€278,860 | -€250,004 | +€28,856 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€278,860 | -€250,004 | +€28,856 | +10.3% |
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 5 October 2026 via checked.be.