Quartier Bleu Retail: 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
Quartier Bleu Retail
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.1m
2024 · -€2.0m+€827,369
Equity
€12.5m
2024 · €13.6m-€1.1m
Cash
€26,662
2024 · €121,159-€94,498
Balance sheet total
€61.1m
2024 · €63.8m-€2.8m
Largest movements
Assets
- Tangible fixed assets -€2.3m
down €2.3m (-3.7%), from €62.8m to €60.4m
of which Land and buildings: -€2.3m
Equity and liabilities
- Profit (loss) carried forward -€1.1m
down €1.1m (-7.1%), from -€15.9m to -€17.0m
- Debts after one year -€1.1m
down €1.1m (-2.4%), from €46.7m to €45.6m
of which Financial debts: -€1.1m
Income statement
- Financial charges -€786,735
down €786,735 (-28.6%), from €2.8m to €2.0m
- Write-downs +€245,562
up €245,562 (+483%), from €50,892 to €296,454
- Other operating charges -€175,900
down €175,900 (-44.2%), from €398,009 to €222,109
- Gross operating margin +€137,214
up €137,214 (+3.8%), from €3.6m to €3.8m
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
-€2.0m
Gross operating margin
+€137,214
Depreciation
-€32,116
Write-downs
-€245,562
Other operating charges
+€175,900
Financial income
+€5,198
Financial charges
+€786,735
Result 2025
-€1.1m
raises the resultlowers the result
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.
From operations
+€1.1m
Investment
-€92,474
Financing
-€1.1m
Cash 2024
€121,159
From operations (derived)
+€1.1m
Net result for the year
-€1.1m
Depreciation
+€2.4m
Receivables within one year
+€306,004
Deferred charges and accrued income
+€19,075
Trade debts
-€494,715
Tax, wage and social debts
-€35,550
Investment (derived)
-€92,474
Investment in fixed assets (net)
-€92,474
Financing
-€1.1m
Debts after one year
-€1.1m
Cash 2025
€26,662
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €63,824,245 | €61,064,614 | -€2.8m | -4.3% |
| Fixed assets | 21/28 | €62,794,891 | €60,454,837 | -€2.3m | -3.7% |
| Intangible fixed assets | 21 | €39,162 | €21,320 | -€17,842 | -45.6% |
| Tangible fixed assets | 22/27 | €62,755,728 | €60,433,517 | -€2.3m | -3.7% |
| Land and buildings | 22 | €62,754,850 | €60,432,931 | -€2.3m | -3.7% |
| Plant, machinery and equipment | 23 | €878 | €585 | -€293 | -33.3% |
| Current assets | 29/58 | €1,029,354 | €609,777 | -€419,577 | -40.8% |
| Amounts receivable within one year | 40/41 | €863,529 | €557,524 | -€306,004 | -35.4% |
| Trade receivables | 40 | €844,498 | €557,524 | -€286,974 | -34.0% |
| Other amounts receivable | 41 | €19,031 | - | -€19,031 | |
| Cash at bank and in hand | 54/58 | €121,159 | €26,662 | -€94,498 | -78.0% |
| Deferred charges and accrued income | 490/1 | €44,666 | €25,591 | -€19,075 | -42.7% |
| Total equity and liabilities | 10/49 | €63,824,245 | €61,064,614 | -€2.8m | -4.3% |
| Equity | 10/15 | €13,621,783 | €12,493,066 | -€1.1m | -8.3% |
| Contributions | 10/11 | €29,475,000 | €29,475,000 | = | 0.0% |
| Capital | 10 | €29,475,000 | €29,475,000 | = | 0.0% |
| Issued capital | 100 | €29,475,000 | €29,475,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,853,217 | -€16,981,934 | -€1.1m | -7.1% |
| Amounts payable | 17/49 | €50,202,462 | €48,571,548 | -€1.6m | -3.2% |
| Amounts payable after more than one year | 17 | €46,663,499 | €45,562,851 | -€1.1m | -2.4% |
| Financial debts | 170/4 | €46,575,514 | €45,494,865 | -€1.1m | -2.3% |
| Other amounts payable | 178/9 | €87,985 | €67,985 | -€20,000 | -22.7% |
| Amounts payable within one year | 42/48 | €3,538,962 | €3,008,698 | -€530,265 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €1,600,000 | €1,600,000 | = | 0.0% |
| Trade debts | 44 | €617,293 | €122,578 | -€494,715 | -80.1% |
| Suppliers | 440/4 | €617,293 | €122,578 | -€494,715 | -80.1% |
| Taxes, remuneration and social security | 45 | €1,321,669 | €1,286,119 | -€35,550 | -2.7% |
| Taxes | 450/3 | €1,321,669 | €1,286,119 | -€35,550 | -2.7% |
| Non-recurring operating income | 76A | - | €21,736 | +€21,736 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,400,411 | €2,432,528 | +€32,116 | +1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €50,892 | €296,454 | +€245,562 | +483% |
| Other operating charges | 640/8 | €398,009 | €222,109 | -€175,900 | -44.2% |
| Gross operating margin | 9900 | €3,643,681 | €3,780,896 | +€137,214 | +3.8% |
| Operating profit (loss) | 9901 | €794,369 | €829,805 | +€35,436 | +4.5% |
| Financial income | 75/76B | €0 | €5,198 | +€5,198 | +17,325,000% |
| Recurring financial income | 75 | €0 | €5,198 | +€5,198 | +17,325,000% |
| Financial charges | 65/66B | €2,750,455 | €1,963,719 | -€786,735 | -28.6% |
| Recurring financial charges | 65 | €2,750,455 | €1,963,719 | -€786,735 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,956,086 | -€1,128,717 | +€827,369 | +42.3% |
| Profit (loss) for the period | 9904 | -€1,956,086 | -€1,128,717 | +€827,369 | +42.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,956,086 | -€1,128,717 | +€827,369 | +42.3% |
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 19 October 2026 via checked.be.