QUANTA: what changed
Two fiscal 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.
QUANTA
Largest movements
- Tangible fixed assets -€94,264
down €94,264 (-2.2%), from €4.2m to €4.1m
of which Land and buildings: -€123,741
- Receivables within one year -€61,580
down €61,580 (-99.9%), from €61,654 to €74
of which Other amounts receivable: -€59,454
- Debts after one year -€212,620
down €212,620 (-8.1%), from €2.6m to €2.4m
of which Financial debts: -€212,620
- Depreciation -€147,636
down €147,636 (-46.9%), from €314,617 to €166,980
- Financial charges +€31,527
up €31,527 (+47.1%), from €66,891 to €98,418
- Other operating charges +€18,484
up €18,484 (+51.7%), from €35,737 to €54,221
- Gross operating margin +€17,284
up €17,284 (+5.0%), from €343,317 to €360,602
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 | €4,327,932 | €4,165,430 | -€162,502 | -3.8% |
| Fixed assets | 21/28 | €4,197,300 | €4,103,036 | -€94,264 | -2.2% |
| Tangible fixed assets | 22/27 | €4,197,300 | €4,103,036 | -€94,264 | -2.2% |
| Land and buildings | 22 | €3,992,718 | €3,868,977 | -€123,741 | -3.1% |
| Plant, machinery and equipment | 23 | €162,564 | €181,831 | +€19,266 | +11.9% |
| Furniture and vehicles | 24 | €29,312 | €22,049 | -€7,263 | -24.8% |
| Assets under construction and advance payments | 27 | €12,705 | €30,178 | +€17,473 | +137.5% |
| Current assets | 29/58 | €130,633 | €62,394 | -€68,238 | -52.2% |
| Amounts receivable within one year | 40/41 | €61,654 | €74 | -€61,580 | -99.9% |
| Trade receivables | 40 | €2,200 | €74 | -€2,126 | -96.6% |
| Other amounts receivable | 41 | €59,454 | - | -€59,454 | |
| Cash at bank and in hand | 54/58 | €51,024 | €56,848 | +€5,823 | +11.4% |
| Deferred charges and accrued income | 490/1 | €17,954 | €5,473 | -€12,481 | -69.5% |
| Total equity and liabilities | 10/49 | €4,327,932 | €4,165,430 | -€162,502 | -3.8% |
| Equity | 10/15 | €1,286,129 | €1,326,122 | +€39,993 | +3.1% |
| Contributions | 10/11 | €443,167 | €443,167 | = | 0.0% |
| Capital | 10 | €443,167 | €443,167 | = | 0.0% |
| Issued capital | 100 | €443,167 | €443,167 | = | 0.0% |
| Revaluation surpluses | 12 | €505,700 | €505,700 | = | 0.0% |
| Reserves | 13 | €406,079 | €406,079 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,317 | €9,317 | = | 0.0% |
| Legal reserve | 130 | €9,317 | €9,317 | = | 0.0% |
| Distributable reserves | 133 | €396,763 | €396,763 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,817 | -€28,824 | +€39,993 | +58.1% |
| Amounts payable | 17/49 | €3,041,803 | €2,839,308 | -€202,495 | -6.7% |
| Amounts payable after more than one year | 17 | €2,629,286 | €2,416,666 | -€212,620 | -8.1% |
| Financial debts | 170/4 | €1,733,974 | €1,521,354 | -€212,620 | -12.3% |
| Other amounts payable | 178/9 | €895,313 | €895,313 | = | 0.0% |
| Amounts payable within one year | 42/48 | €335,599 | €338,500 | +€2,901 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €210,808 | €212,620 | +€1,812 | +0.9% |
| Trade debts | 44 | €96 | - | -€96 | |
| Suppliers | 440/4 | €96 | - | -€96 | |
| Taxes, remuneration and social security | 45 | €13,904 | €591 | -€13,313 | -95.8% |
| Taxes | 450/3 | €11,554 | €591 | -€10,963 | -94.9% |
| Remuneration and social security | 454/9 | €2,350 | - | -€2,350 | |
| Other amounts payable | 47/48 | €110,791 | €125,289 | +€14,498 | +13.1% |
| Accrued charges and deferred income | 492/3 | €76,918 | €84,142 | +€7,224 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €314,617 | €166,980 | -€147,636 | -46.9% |
| Other operating charges | 640/8 | €35,737 | €54,221 | +€18,484 | +51.7% |
| Gross operating margin | 9900 | €343,317 | €360,602 | +€17,284 | +5.0% |
| Operating profit (loss) | 9901 | -€7,037 | €139,401 | +€146,437 | |
| Financial charges | 65/66B | €66,891 | €98,418 | +€31,527 | +47.1% |
| Recurring financial charges | 65 | €66,891 | €98,418 | +€31,527 | +47.1% |
| Profit (loss) for the period before taxes | 9903 | -€73,928 | €40,983 | +€114,910 | |
| Income taxes | 67/77 | €546 | €990 | +€444 | +81.4% |
| Profit (loss) for the period | 9904 | -€74,473 | €39,993 | +€114,466 | |
| Profit (loss) for the period to be appropriated | 9905 | -€74,473 | €39,993 | +€114,466 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.