QUAESTOR V IV: 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 V IV
Largest movements
- Financial fixed assets +€1.4m
up €1.4m (+24.9%), from €5.8m to €7.3m
- Cash -€87,344
down €87,344 (-15.5%), from €563,914 to €476,569
mainly Net result for the year (-€1.5m) and Investment in fixed assets (net) (-€1.4m)
- Contributions +€2.8m
up €2.8m (+36.3%), from €7.8m to €10.6m
- Profit (loss) carried forward -€1.5m
down €1.5m (-105%), from -€1.4m to -€2.9m
- Financial charges +€1.1m
up €1.1m (+370%), from €288,083 to €1.4m
of which Non-recurring financial charges: +€1.1m
- Gross operating margin -€60,027
down €60,027 (-80.7%), from -€74,353 to -€134,380
- Financial income -€8,358
down €8,358 (-81.9%), from €10,200 to €1,842
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 | €6,379,252 | €7,735,830 | +€1.4m | +21.3% |
| Formation expenses | 20 | €5,838 | €1,142 | -€4,697 | -80.4% |
| Fixed assets | 21/28 | €5,809,452 | €7,258,052 | +€1.4m | +24.9% |
| Financial fixed assets | 28 | €5,809,452 | €7,258,052 | +€1.4m | +24.9% |
| Current assets | 29/58 | €563,961 | €476,636 | -€87,325 | -15.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €563,914 | €476,569 | -€87,344 | -15.5% |
| Deferred charges and accrued income | 490/1 | €48 | €67 | +€20 | +40.9% |
| Total equity and liabilities | 10/49 | €6,379,252 | €7,735,830 | +€1.4m | +21.3% |
| Equity | 10/15 | €6,342,176 | €7,665,586 | +€1.3m | +20.9% |
| Contributions | 10/11 | €7,758,750 | €10,573,750 | +€2.8m | +36.3% |
| Profit (loss) carried forward | 14 | -€1,416,574 | -€2,908,164 | -€1.5m | -105% |
| Amounts payable | 17/49 | €37,075 | €70,244 | +€33,169 | +89.5% |
| Amounts payable within one year | 42/48 | €37,075 | €70,244 | +€33,169 | +89.5% |
| Trade debts | 44 | €37,075 | €70,244 | +€33,169 | +89.5% |
| Suppliers | 440/4 | €37,075 | €70,244 | +€33,169 | +89.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,697 | €4,697 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,922 | €1,126 | -€795 | -41.4% |
| Gross operating margin | 9900 | -€74,353 | -€134,380 | -€60,027 | -80.7% |
| Operating profit (loss) | 9901 | -€80,971 | -€140,203 | -€59,232 | -73.2% |
| Financial income | 75/76B | €10,200 | €1,842 | -€8,358 | -81.9% |
| Recurring financial income | 75 | €10,200 | €1,842 | -€8,358 | -81.9% |
| Financial charges | 65/66B | €288,083 | €1,353,230 | +€1.1m | +370% |
| Recurring financial charges | 65 | €1,950 | €1,829 | -€121 | -6.2% |
| Non-recurring financial charges | 66B | €286,132 | €1,351,400 | +€1.1m | +372% |
| Profit (loss) for the period before taxes | 9903 | -€358,855 | -€1,491,591 | -€1.1m | -316% |
| Income taxes | 67/77 | -€60 | €0 | +€60 | |
| Profit (loss) for the period | 9904 | -€358,794 | -€1,491,591 | -€1.1m | -316% |
| Profit (loss) for the period to be appropriated | 9905 | -€358,794 | -€1,491,591 | -€1.1m | -316% |
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 28 October 2026 via checked.be.