QUAESTUS: 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.
QUAESTUS
Largest movements
- Cash -€243,297
down €243,297 (-66.9%), from €363,621 to €120,324
mainly Current investments (-€227,449) and Investment in fixed assets (net) (-€60,871)
- Current investments +€227,449
up €227,449 (+38.1%), from €597,228 to €824,677
- Receivables within one year +€26,765
up €26,765 (+261%), from €10,238 to €37,003
of which Trade receivables: +€32,026
- Reserves +€39,075
up €39,075 (+45.8%), from €85,368 to €124,443
of which Distributable reserves: +€39,075
- Debts after one year -€33,162
down €33,162 (-11.5%), from €287,772 to €254,610
- Gross operating margin +€50,519
up €50,519 (+74.7%), from €67,590 to €118,110
- Depreciation +€16,289
up €16,289 (+40.3%), from €40,456 to €56,745
- Taxes +€12,153
up €12,153 (+119%), from €10,205 to €22,358
- Other operating charges -€3,513
down €3,513 (-28.4%), from €12,377 to €8,864
- Financial charges -€1,601
down €1,601 (-18.5%), from €8,650 to €7,050
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 | €1,702,727 | €1,719,350 | +€16,623 | +1.0% |
| Fixed assets | 21/28 | €725,308 | €729,435 | +€4,126 | +0.6% |
| Tangible fixed assets | 22/27 | €720,293 | €729,060 | +€8,767 | +1.2% |
| Land and buildings | 22 | €686,798 | €652,121 | -€34,677 | -5.0% |
| Plant, machinery and equipment | 23 | €30,014 | €25,963 | -€4,051 | -13.5% |
| Furniture and vehicles | 24 | €3,481 | €50,976 | +€47,495 | +1,365% |
| Financial fixed assets | 28 | €5,015 | €375 | -€4,640 | -92.5% |
| Current assets | 29/58 | €977,418 | €989,915 | +€12,497 | +1.3% |
| Amounts receivable within one year | 40/41 | €10,238 | €37,003 | +€26,765 | +261% |
| Trade receivables | 40 | €944 | €32,970 | +€32,026 | +3,393% |
| Other amounts receivable | 41 | €9,294 | €4,034 | -€5,260 | -56.6% |
| Current investments | 50/53 | €597,228 | €824,677 | +€227,449 | +38.1% |
| Cash at bank and in hand | 54/58 | €363,621 | €120,324 | -€243,297 | -66.9% |
| Deferred charges and accrued income | 490/1 | €6,331 | €7,911 | +€1,580 | +25.0% |
| Total equity and liabilities | 10/49 | €1,702,727 | €1,719,350 | +€16,623 | +1.0% |
| Equity | 10/15 | €1,372,492 | €1,411,567 | +€39,075 | +2.8% |
| Contributions | 10/11 | €463,869 | €463,869 | = | 0.0% |
| Reserves | 13 | €85,368 | €124,443 | +€39,075 | +45.8% |
| Non-distributable reserves | 130/1 | €2,820 | €2,820 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,820 | €2,820 | = | 0.0% |
| Distributable reserves | 133 | €82,548 | €121,624 | +€39,075 | +47.3% |
| Profit (loss) carried forward | 14 | €823,255 | €823,255 | = | 0.0% |
| Amounts payable | 17/49 | €330,235 | €307,783 | -€22,452 | -6.8% |
| Amounts payable after more than one year | 17 | €287,772 | €254,610 | -€33,162 | -11.5% |
| Financial debts | 170/4 | €287,772 | €254,610 | -€33,162 | -11.5% |
| Amounts payable within one year | 42/48 | €40,615 | €49,859 | +€9,244 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | €32,513 | €33,162 | +€649 | +2.0% |
| Advances received on contracts in progress | 46 | €2,640 | €2,868 | +€228 | +8.7% |
| Taxes, remuneration and social security | 45 | €4,813 | €13,829 | +€9,015 | +187% |
| Taxes | 450/3 | €4,813 | €13,829 | +€9,015 | +187% |
| Other amounts payable | 47/48 | €648 | - | -€648 | |
| Accrued charges and deferred income | 492/3 | €1,848 | €3,314 | +€1,466 | +79.3% |
| Non-recurring operating income | 76A | €2,703 | €28,360 | +€25,657 | +949% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,456 | €56,745 | +€16,289 | +40.3% |
| Other operating charges | 640/8 | €12,377 | €8,864 | -€3,513 | -28.4% |
| Gross operating margin | 9900 | €67,590 | €118,110 | +€50,519 | +74.7% |
| Operating profit (loss) | 9901 | €14,757 | €52,501 | +€37,744 | +256% |
| Financial income | 75/76B | €17,520 | €15,982 | -€1,538 | -8.8% |
| Recurring financial income | 75 | €17,520 | €15,482 | -€2,038 | -11.6% |
| Non-recurring financial income | 76B | - | €500 | +€500 | |
| Financial charges | 65/66B | €8,650 | €7,050 | -€1,601 | -18.5% |
| Recurring financial charges | 65 | €8,650 | €7,050 | -€1,601 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €23,626 | €61,433 | +€37,807 | +160% |
| Income taxes | 67/77 | €10,205 | €22,358 | +€12,153 | +119% |
| Profit (loss) for the period | 9904 | €13,421 | €39,075 | +€25,654 | +191% |
| Profit (loss) for the period to be appropriated | 9905 | €13,421 | €39,075 | +€25,654 | +191% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.