Quarantadue: 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.
Quarantadue
Largest movements
- Cash +€40,654
up €40,654 (+170%), from €23,889 to €64,543
mainly Net result for the year (+€37,481) and Other debts (+€23,959)
- Receivables within one year +€18,846
new in 2025: €18,846
of which Trade receivables: +€12,269
- Tangible fixed assets -€3,400
down €3,400 (-8.5%), from €39,780 to €36,380
- Reserves +€44,162
new in 2025: €44,162
- Other debts +€23,959
up €23,959 (+125%), from €19,228 to €43,187
- Debts after one year -€8,861
down €8,861 (-45.1%), from €19,666 to €10,805
- Current portion of long-term debt +€8,861
new in 2025: €8,861
- Short-term financial debts -€8,506
no longer reported in 2025 (was €8,506)
- Staff costs -€38,500
no longer reported in 2025 (was €38,500)
- Taxes +€7,810
up €7,810 (+422%), from €1,850 to €9,660
- Gross operating margin -€7,499
down €7,499 (-11.2%), from €66,860 to €59,361
- Other operating charges -€7,203
down €7,203 (-97.5%), from €7,389 to €186
- Depreciation -€839
down €839 (-8.4%), from €9,945 to €9,106
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 | €63,669 | €120,594 | +€56,925 | +89.4% |
| Fixed assets | 21/28 | €39,780 | €36,380 | -€3,400 | -8.5% |
| Tangible fixed assets | 22/27 | €39,780 | €36,380 | -€3,400 | -8.5% |
| Furniture and vehicles | 24 | €39,780 | €36,380 | -€3,400 | -8.5% |
| Current assets | 29/58 | €23,889 | €84,214 | +€60,324 | +253% |
| Amounts receivable within one year | 40/41 | - | €18,846 | +€18,846 | |
| Trade receivables | 40 | - | €12,269 | +€12,269 | |
| Other amounts receivable | 41 | - | €6,576 | +€6,576 | |
| Cash at bank and in hand | 54/58 | €23,889 | €64,543 | +€40,654 | +170% |
| Deferred charges and accrued income | 490/1 | - | €825 | +€825 | |
| Total equity and liabilities | 10/49 | €63,669 | €120,594 | +€56,925 | +89.4% |
| Equity | 10/15 | €7,682 | €45,162 | +€37,481 | +488% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €44,162 | +€44,162 | |
| Distributable reserves | 133 | - | €44,162 | +€44,162 | |
| Profit (loss) carried forward | 14 | €6,682 | - | -€6,682 | |
| Amounts payable | 17/49 | €55,988 | €75,432 | +€19,444 | +34.7% |
| Amounts payable after more than one year | 17 | €19,666 | €10,805 | -€8,861 | -45.1% |
| Financial debts | 170/4 | €19,666 | €10,805 | -€8,861 | -45.1% |
| Amounts payable within one year | 42/48 | €36,322 | €64,626 | +€28,305 | +77.9% |
| Current portion of amounts payable after more than one year | 42 | - | €8,861 | +€8,861 | |
| Financial debts | 43 | €8,506 | - | -€8,506 | |
| Credit institutions | 430/8 | €8,506 | - | -€8,506 | |
| Trade debts | 44 | €121 | €3,995 | +€3,874 | +3,204% |
| Suppliers | 440/4 | €121 | €3,995 | +€3,874 | +3,204% |
| Taxes, remuneration and social security | 45 | €8,467 | €8,585 | +€117 | +1.4% |
| Taxes | 450/3 | €8,467 | €8,585 | +€117 | +1.4% |
| Other amounts payable | 47/48 | €19,228 | €43,187 | +€23,959 | +125% |
| Remuneration, social security and pensions | 62 | €38,500 | - | -€38,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,945 | €9,106 | -€839 | -8.4% |
| Other operating charges | 640/8 | €7,389 | €186 | -€7,203 | -97.5% |
| Non-recurring operating charges | 66A | €1 | - | -€1 | |
| Gross operating margin | 9900 | €66,860 | €59,361 | -€7,499 | -11.2% |
| Operating profit (loss) | 9901 | €11,025 | €50,069 | +€39,044 | +354% |
| Financial income | 75/76B | - | €166 | +€166 | |
| Recurring financial income | 75 | - | €166 | +€166 | |
| Financial charges | 65/66B | €2,493 | €3,094 | +€601 | +24.1% |
| Recurring financial charges | 65 | €2,493 | €3,094 | +€601 | +24.1% |
| Profit (loss) for the period before taxes | 9903 | €8,532 | €47,141 | +€38,609 | +453% |
| Income taxes | 67/77 | €1,850 | €9,660 | +€7,810 | +422% |
| Profit (loss) for the period | 9904 | €6,682 | €37,481 | +€30,799 | +461% |
| Profit (loss) for the period to be appropriated | 9905 | €6,682 | €37,481 | +€30,799 | +461% |
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 16 October 2026 via checked.be.