Quality Stay: 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.
What changed
Quality Stay
NACE 55.203, Holiday cottages, homes and apartments
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€34,845
2024 · €70,407-€105,252
Equity
€599,398
2024 · €634,243-€34,845
Cash
€10,748
2024 · €5,385+€5,363
Balance sheet total
€4.7m
2024 · €3.2m+€1.6m
Largest movements
Assets
- Tangible fixed assets +€1.6m
up €1.6m (+50.9%), from €3.1m to €4.7m
of which Land and buildings: +€3.0m
Equity and liabilities
- Debts after one year +€1.3m
up €1.3m (+92.7%), from €1.4m to €2.6m
of which Financial debts: +€1.3m
- Other debts +€240,212
up €240,212 (+24.6%), from €975,699 to €1.2m
- Current portion of long-term debt +€58,429
new in 2025: €58,429
Income statement
- Depreciation +€74,148
up €74,148 (+153.8%), from €48,198 to €122,347
- Gross operating margin +€43,074
up €43,074 (+8.5%), from €504,999 to €548,073
- Other operating charges +€40,779
up €40,779 (+13.5%), from €301,684 to €342,463
- Financial charges +€34,949
up €34,949 (+51.6%), from €67,704 to €102,653
- Staff costs +€15,998
up €15,998 (+985.1%), from €1,624 to €17,622
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.
Result 2024
€70,407
Gross operating margin
+€43,074
Staff costs
-€15,998
Depreciation
-€74,148
Other operating charges
-€40,779
Financial income
-€81
Financial charges
-€34,949
Taxes
+€15,531
Deferred taxes and other
+€2,098
Result 2025
-€34,845
Cash bridge derived
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.
From operations
+€382,072
Investment
-€1.7m
Financing
+€1.3m
Cash 2024
€5,385
From operations (derived)
+€382,072
Net result for the year
-€34,845
Depreciation
+€122,347
Smaller working-capital items
-€2,442
Trade debts
+€42,814
Tax, wage and social debts
+€5,614
Other debts
+€240,212
Accrued charges and deferred income
+€8,373
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€1.7m
Financing
+€1.3m
Debts after one year
+€1.3m
Current portion of long-term debt
+€58,429
Cash 2025
€10,748
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,151,315 | €4,738,913 | +€1.6m | +50.4% |
| Fixed assets | 21/28 | €3,106,819 | €4,688,896 | +€1.6m | +50.9% |
| Tangible fixed assets | 22/27 | €3,106,819 | €4,688,896 | +€1.6m | +50.9% |
| Land and buildings | 22 | €1,677,136 | €4,636,546 | +€3.0m | +176.5% |
| Plant, machinery and equipment | 23 | €119 | €15,309 | +€15,191 | +12777.0% |
| Furniture and vehicles | 24 | €57,765 | €37,041 | -€20,724 | -35.9% |
| Assets under construction and advance payments | 27 | €1,371,799 | €0 | -€1.4m | -100.0% |
| Current assets | 29/58 | €44,496 | €50,017 | +€5,521 | +12.4% |
| Amounts receivable within one year | 40/41 | €19,874 | €21,893 | +€2,020 | +10.2% |
| Trade receivables | 40 | €6,434 | €21,893 | +€15,459 | +240.3% |
| Other amounts receivable | 41 | €13,439 | €0 | -€13,439 | -100.0% |
| Cash at bank and in hand | 54/58 | €5,385 | €10,748 | +€5,363 | +99.6% |
| Deferred charges and accrued income | 490/1 | €19,238 | €17,375 | -€1,862 | -9.7% |
| Total equity and liabilities | 10/49 | €3,151,315 | €4,738,913 | +€1.6m | +50.4% |
| Equity | 10/15 | €634,243 | €599,398 | -€34,845 | -5.5% |
| Contributions | 10/11 | €320,000 | €320,000 | = | 0.0% |
| Capital | 10 | €320,000 | €320,000 | = | 0.0% |
| Issued capital | 100 | €320,000 | €320,000 | = | 0.0% |
| Reserves | 13 | €317,019 | €310,164 | -€6,854 | -2.2% |
| Non-distributable reserves | 130/1 | €26,067 | €26,067 | = | 0.0% |
| Legal reserve | 130 | €26,067 | €26,067 | = | 0.0% |
| Tax-exempt reserves | 132 | €268,352 | €261,498 | -€6,854 | -2.6% |
| Distributable reserves | 133 | €22,600 | €22,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,776 | -€30,767 | -€27,991 | -1008.3% |
| Provisions and deferred taxes | 16 | €89,451 | €87,166 | -€2,285 | -2.6% |
| Deferred taxes | 168 | €89,451 | €87,166 | -€2,285 | -2.6% |
| Amounts payable | 17/49 | €2,427,622 | €4,052,349 | +€1.6m | +66.9% |
| Amounts payable after more than one year | 17 | €1,369,467 | €2,638,753 | +€1.3m | +92.7% |
| Financial debts | 170/4 | €169,467 | €1,438,753 | +€1.3m | +749.0% |
| Other amounts payable | 178/9 | €1,200,000 | €1,200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €991,752 | €1,338,821 | +€347,069 | +35.0% |
| Current portion of amounts payable after more than one year | 42 | - | €58,429 | +€58,429 | |
| Trade debts | 44 | €334 | €43,148 | +€42,814 | +12831.3% |
| Suppliers | 440/4 | €334 | €43,148 | +€42,814 | +12831.3% |
| Taxes, remuneration and social security | 45 | €15,720 | €21,334 | +€5,614 | +35.7% |
| Taxes | 450/3 | €15,720 | €17,468 | +€1,748 | +11.1% |
| Remuneration and social security | 454/9 | €0 | €3,866 | +€3,866 | |
| Other amounts payable | 47/48 | €975,699 | €1,215,910 | +€240,212 | +24.6% |
| Accrued charges and deferred income | 492/3 | €66,403 | €74,776 | +€8,373 | +12.6% |
| Remuneration, social security and pensions | 62 | €1,624 | €17,622 | +€15,998 | +985.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,198 | €122,347 | +€74,148 | +153.8% |
| Other operating charges | 640/8 | €301,684 | €342,463 | +€40,779 | +13.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €504,999 | €548,073 | +€43,074 | +8.5% |
| Operating profit (loss) | 9901 | €153,493 | €65,641 | -€87,851 | -57.2% |
| Financial income | 75/76B | €139 | €58 | -€81 | -58.1% |
| Recurring financial income | 75 | €139 | €58 | -€81 | -58.1% |
| Financial charges | 65/66B | €67,704 | €102,653 | +€34,949 | +51.6% |
| Recurring financial charges | 65 | €67,704 | €102,653 | +€34,949 | +51.6% |
| Profit (loss) for the period before taxes | 9903 | €85,927 | -€36,954 | -€122,881 | |
| Transfer from deferred taxes | 780 | €186 | €2,285 | +€2,098 | +1125.9% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €15,707 | €176 | -€15,531 | -98.9% |
| Profit (loss) for the period | 9904 | €70,407 | -€34,845 | -€105,252 | |
| Transfer from tax-exempt reserves | 789 | €559 | €6,854 | +€6,295 | +1125.9% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €70,966 | -€27,991 | -€98,957 |
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 9 October 2026 via checked.be.