QUAGGA: 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.
QUAGGA
Largest movements
- Cash -€180,882
down €180,882 (-79.8%), from €226,734 to €45,852
mainly Current investments (-€100,000) and Receivables within one year (-€35,406)
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year +€35,406
up €35,406 (+144%), from €24,567 to €59,973
of which Other amounts receivable: +€39,691
- Tangible fixed assets +€4,752
up €4,752 (+7.4%), from €64,218 to €68,970
of which Other tangible fixed assets: +€14,658
- Accrued charges and deferred income -€31,082
down €31,082 (-23.5%), from €132,272 to €101,189
- Trade debts -€4,891
down €4,891 (-71.1%), from €6,880 to €1,988
- Tax, wage and social debts -€3,442
down €3,442 (-79.3%), from €4,342 to €900
of which Taxes: -€2,092
- Gross operating margin -€60,502
down €60,502 (-78.9%), from €76,668 to €16,167
- Taxes -€19,338
down €19,338 (-91.7%), from €21,077 to €1,739
- Financial income +€2,096
up €2,096 (+272%), from €772 to €2,868
- Depreciation +€911
up €911 (+6.9%), from €13,139 to €14,050
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 | €318,945 | €279,095 | -€39,849 | -12.5% |
| Fixed assets | 21/28 | €64,218 | €68,970 | +€4,752 | +7.4% |
| Tangible fixed assets | 22/27 | €64,218 | €68,970 | +€4,752 | +7.4% |
| Plant, machinery and equipment | 23 | €347 | €20 | -€328 | -94.4% |
| Furniture and vehicles | 24 | €36,756 | €27,178 | -€9,578 | -26.1% |
| Other tangible fixed assets | 26 | €27,115 | €41,772 | +€14,658 | +54.1% |
| Current assets | 29/58 | €254,727 | €210,125 | -€44,602 | -17.5% |
| Amounts receivable within one year | 40/41 | €24,567 | €59,973 | +€35,406 | +144% |
| Trade receivables | 40 | €4,870 | €585 | -€4,285 | -88.0% |
| Other amounts receivable | 41 | €19,697 | €59,388 | +€39,691 | +202% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €226,734 | €45,852 | -€180,882 | -79.8% |
| Deferred charges and accrued income | 490/1 | €3,425 | €4,300 | +€875 | +25.5% |
| Total equity and liabilities | 10/49 | €318,945 | €279,095 | -€39,849 | -12.5% |
| Equity | 10/15 | €174,484 | €175,018 | +€534 | +0.3% |
| Reserves | 13 | €174,484 | €175,018 | +€534 | +0.3% |
| Distributable reserves | 133 | €174,484 | €175,018 | +€534 | +0.3% |
| Amounts payable | 17/49 | €144,460 | €104,077 | -€40,383 | -28.0% |
| Amounts payable within one year | 42/48 | €12,189 | €2,888 | -€9,301 | -76.3% |
| Trade debts | 44 | €6,880 | €1,988 | -€4,891 | -71.1% |
| Suppliers | 440/4 | €6,880 | €1,988 | -€4,891 | -71.1% |
| Taxes, remuneration and social security | 45 | €4,342 | €900 | -€3,442 | -79.3% |
| Taxes | 450/3 | €2,092 | €0 | -€2,092 | -100% |
| Remuneration and social security | 454/9 | €2,250 | €900 | -€1,350 | -60.0% |
| Other amounts payable | 47/48 | €968 | €0 | -€968 | -100% |
| Accrued charges and deferred income | 492/3 | €132,272 | €101,189 | -€31,082 | -23.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,139 | €14,050 | +€911 | +6.9% |
| Other operating charges | 640/8 | €2,127 | €2,223 | +€96 | +4.5% |
| Gross operating margin | 9900 | €76,668 | €16,167 | -€60,502 | -78.9% |
| Operating profit (loss) | 9901 | €61,403 | -€106 | -€61,509 | |
| Financial income | 75/76B | €772 | €2,868 | +€2,096 | +272% |
| Recurring financial income | 75 | €772 | €2,868 | +€2,096 | +272% |
| Financial charges | 65/66B | €36 | €489 | +€453 | +1,268% |
| Recurring financial charges | 65 | €36 | €489 | +€453 | +1,268% |
| Profit (loss) for the period before taxes | 9903 | €62,138 | €2,273 | -€59,866 | -96.3% |
| Income taxes | 67/77 | €21,077 | €1,739 | -€19,338 | -91.7% |
| Profit (loss) for the period | 9904 | €41,061 | €534 | -€40,528 | -98.7% |
| Profit (loss) for the period to be appropriated | 9905 | €41,061 | €534 | -€40,528 | -98.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.