Quaestor S V: 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 S V
Largest movements
- Financial fixed assets -€4.6m
down €4.6m (-30.0%), from €15.2m to €10.7m
- Cash +€302,722
up €302,722 (+190%), from €159,638 to €462,359
mainly Investment in fixed assets (net) (+€4.6m) and Net result for the year (+€1.7m)
- Contributions -€6.0m
down €6.0m (-33.1%), from €18.1m to €12.1m
- Profit (loss) carried forward +€1.7m
up €1.7m (+61.8%), from -€2.8m to -€1.1m
- Financial income +€2.0m
up €2.0m (+92,964%), from €2,110 to €2.0m
of which Non-recurring financial income: +€2.0m
- Financial charges -€354,041
down €354,041 (-99.5%), from €355,871 to €1,829
of which Non-recurring financial charges: -€353,920
- Gross operating margin +€4,478
up €4,478 (+2.0%), from -€226,586 to -€222,107
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 | €15,398,405 | €11,126,455 | -€4.3m | -27.7% |
| Formation expenses | 20 | €1,334 | €0 | -€1,334 | -100% |
| Fixed assets | 21/28 | €15,237,366 | €10,664,000 | -€4.6m | -30.0% |
| Financial fixed assets | 28 | €15,237,366 | €10,664,000 | -€4.6m | -30.0% |
| Current assets | 29/58 | €159,705 | €462,455 | +€302,750 | +190% |
| Cash at bank and in hand | 54/58 | €159,638 | €462,359 | +€302,722 | +190% |
| Deferred charges and accrued income | 490/1 | €68 | €96 | +€28 | +40.9% |
| Total equity and liabilities | 10/49 | €15,398,405 | €11,126,455 | -€4.3m | -27.7% |
| Equity | 10/15 | €15,289,892 | €11,028,007 | -€4.3m | -27.9% |
| Contributions | 10/11 | €18,100,750 | €12,100,750 | -€6.0m | -33.1% |
| Profit (loss) carried forward | 14 | -€2,810,858 | -€1,072,743 | +€1.7m | +61.8% |
| Amounts payable | 17/49 | €108,513 | €98,448 | -€10,065 | -9.3% |
| Amounts payable within one year | 42/48 | €108,513 | €98,448 | -€10,065 | -9.3% |
| Trade debts | 44 | €108,513 | €98,448 | -€10,065 | -9.3% |
| Suppliers | 440/4 | €108,513 | €98,448 | -€10,065 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,559 | €1,334 | -€226 | -14.5% |
| Other operating charges | 640/8 | €85 | €88 | +€3 | +3.1% |
| Gross operating margin | 9900 | -€226,586 | -€222,107 | +€4,478 | +2.0% |
| Operating profit (loss) | 9901 | -€228,231 | -€223,529 | +€4,702 | +2.1% |
| Financial income | 75/76B | €2,110 | €1,963,473 | +€2.0m | +92,964% |
| Recurring financial income | 75 | €2,110 | €839 | -€1,271 | -60.2% |
| Non-recurring financial income | 76B | - | €1,962,634 | +€2.0m | |
| Financial charges | 65/66B | €355,871 | €1,829 | -€354,041 | -99.5% |
| Recurring financial charges | 65 | €1,950 | €1,829 | -€121 | -6.2% |
| Non-recurring financial charges | 66B | €353,920 | €0 | -€353,920 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€581,991 | €1,738,114 | +€2.3m | |
| Profit (loss) for the period | 9904 | -€581,991 | €1,738,114 | +€2.3m | |
| Profit (loss) for the period to be appropriated | 9905 | -€581,991 | €1,738,114 | +€2.3m |
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 18 October 2026 via checked.be.