QUALITY TREE: 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.
QUALITY TREE
Largest movements
- Tangible fixed assets -€52,083
down €52,083 (-5.1%), from €1.0m to €970,454
of which Land and buildings: -€57,185
- Debts after one year -€72,564
down €72,564 (-6.0%), from €1.2m to €1.1m
of which Financial debts: -€72,277
- Profit (loss) carried forward +€21,735
up €21,735 (+25.2%), from -€86,205 to -€64,470
- Financial charges -€9,509
down €9,509 (-27.9%), from €34,109 to €24,600
- Depreciation +€3,499
up €3,499 (+5.9%), from €59,012 to €62,510
- Gross operating margin +€1,708
up €1,708 (+1.5%), from €114,232 to €115,939
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,220,222 | €1,168,300 | -€51,922 | -4.3% |
| Fixed assets | 21/28 | €1,187,976 | €1,135,893 | -€52,083 | -4.4% |
| Tangible fixed assets | 22/27 | €1,022,537 | €970,454 | -€52,083 | -5.1% |
| Land and buildings | 22 | €1,019,661 | €962,476 | -€57,185 | -5.6% |
| Furniture and vehicles | 24 | €2,875 | €7,978 | +€5,102 | +177.4% |
| Financial fixed assets | 28 | €165,439 | €165,439 | = | 0.0% |
| Current assets | 29/58 | €32,246 | €32,407 | +€160 | +0.5% |
| Stocks and contracts in progress | 3 | €1,700 | €1,700 | = | 0.0% |
| Stocks | 30/36 | €1,700 | €1,700 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €117 | €9,273 | +€9,156 | +7856.0% |
| Trade receivables | 40 | - | €9,148 | +€9,148 | |
| Other amounts receivable | 41 | €117 | €125 | +€9 | +7.3% |
| Cash at bank and in hand | 54/58 | €28,262 | €19,077 | -€9,184 | -32.5% |
| Deferred charges and accrued income | 490/1 | €2,168 | €2,356 | +€188 | +8.7% |
| Total equity and liabilities | 10/49 | €1,220,222 | €1,168,300 | -€51,922 | -4.3% |
| Equity | 10/15 | -€65,745 | -€44,010 | +€21,735 | +33.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,205 | -€64,470 | +€21,735 | +25.2% |
| Amounts payable | 17/49 | €1,285,967 | €1,212,309 | -€73,657 | -5.7% |
| Amounts payable after more than one year | 17 | €1,209,272 | €1,136,709 | -€72,564 | -6.0% |
| Financial debts | 170/4 | €842,505 | €770,228 | -€72,277 | -8.6% |
| Other amounts payable | 178/9 | €366,767 | €366,481 | -€286 | -0.1% |
| Amounts payable within one year | 42/48 | €76,694 | €75,601 | -€1,094 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €71,423 | €72,277 | +€855 | +1.2% |
| Trade debts | 44 | €1,792 | €1,961 | +€169 | +9.4% |
| Suppliers | 440/4 | €1,792 | €1,961 | +€169 | +9.4% |
| Taxes, remuneration and social security | 45 | €3,479 | €1,362 | -€2,118 | -60.9% |
| Taxes | 450/3 | €3,479 | €1,362 | -€2,118 | -60.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,012 | €62,510 | +€3,499 | +5.9% |
| Other operating charges | 640/8 | €6,734 | €6,819 | +€85 | +1.3% |
| Gross operating margin | 9900 | €114,232 | €115,939 | +€1,708 | +1.5% |
| Operating profit (loss) | 9901 | €48,486 | €46,610 | -€1,876 | -3.9% |
| Financial income | 75/76B | €142 | - | -€142 | |
| Recurring financial income | 75 | €142 | - | -€142 | |
| Financial charges | 65/66B | €34,109 | €24,600 | -€9,509 | -27.9% |
| Recurring financial charges | 65 | €34,109 | €24,600 | -€9,509 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €14,519 | €22,010 | +€7,491 | +51.6% |
| Income taxes | 67/77 | €283 | €275 | -€9 | -3.0% |
| Profit (loss) for the period | 9904 | €14,236 | €21,735 | +€7,499 | +52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,236 | €21,735 | +€7,499 | +52.7% |
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 11 October 2026 via checked.be.