Quaestor MC: 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.
Quaestor MC
Largest movements
- Cash +€4.7m
up €4.7m (+1,029%), from €458,751 to €5.2m
mainly Contributions, distributions and other (+€6.9m) and Trade debts (+€43,922)
- Financial fixed assets +€1.3m
up €1.3m (+2.6%), from €50.5m to €51.8m
- Contributions +€6.9m
up €6.9m (+13.3%), from €52.3m to €59.2m
- Profit (loss) carried forward -€971,484
down €971,484 (-64.0%), from -€1.5m to -€2.5m
- Gross operating margin -€255,875
down €255,875 (-35.5%), from -€720,925 to -€976,800
- Financial income -€39,360
down €39,360 (-73.8%), from €53,350 to €13,990
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 | €50,949,388 | €56,958,827 | +€6.0m | +11.8% |
| Formation expenses | 20 | €9,901 | €4,271 | -€5,630 | -56.9% |
| Fixed assets | 21/28 | €50,470,500 | €51,774,514 | +€1.3m | +2.6% |
| Financial fixed assets | 28 | €50,470,500 | €51,774,514 | +€1.3m | +2.6% |
| Current assets | 29/58 | €468,987 | €5,180,042 | +€4.7m | +1,005% |
| Amounts receivable within one year | 40/41 | €10,000 | €0 | -€10,000 | -100% |
| Other amounts receivable | 41 | €10,000 | €0 | -€10,000 | -100% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €458,751 | €5,179,710 | +€4.7m | +1,029% |
| Deferred charges and accrued income | 490/1 | €235 | €331 | +€96 | +40.9% |
| Total equity and liabilities | 10/49 | €50,949,388 | €56,958,827 | +€6.0m | +11.8% |
| Equity | 10/15 | €50,739,637 | €56,705,154 | +€6.0m | +11.8% |
| Contributions | 10/11 | €52,257,950 | €59,194,950 | +€6.9m | +13.3% |
| Profit (loss) carried forward | 14 | -€1,518,313 | -€2,489,796 | -€971,484 | -64.0% |
| Amounts payable | 17/49 | €209,751 | €253,673 | +€43,922 | +20.9% |
| Amounts payable within one year | 42/48 | €209,751 | €253,673 | +€43,922 | +20.9% |
| Trade debts | 44 | €209,751 | €253,673 | +€43,922 | +20.9% |
| Suppliers | 440/4 | €209,751 | €253,673 | +€43,922 | +20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,630 | €5,630 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,179 | €1,214 | +€36 | +3.0% |
| Gross operating margin | 9900 | -€720,925 | -€976,800 | -€255,875 | -35.5% |
| Operating profit (loss) | 9901 | -€727,734 | -€983,645 | -€255,911 | -35.2% |
| Financial income | 75/76B | €53,350 | €13,990 | -€39,360 | -73.8% |
| Recurring financial income | 75 | €53,350 | €13,990 | -€39,360 | -73.8% |
| 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 | -€676,334 | -€971,484 | -€295,150 | -43.6% |
| Income taxes | 67/77 | -€185 | €0 | +€185 | |
| Profit (loss) for the period | 9904 | -€676,149 | -€971,484 | -€295,335 | -43.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€676,149 | -€971,484 | -€295,335 | -43.7% |
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 13 October 2026 via checked.be.