QuARTz: 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.
QuARTz
Largest movements
- Receivables within one year +€47,314
up €47,314 (+40.4%), from €117,200 to €164,514
of which Other amounts receivable: +€59,817
- Cash -€9,691
down €9,691 (-65.2%), from €14,855 to €5,164
mainly Receivables within one year (-€47,314) and Tax, wage and social debts (-€18,733)
- Tangible fixed assets +€7,001
up €7,001 (+84.5%), from €8,289 to €15,290
- Profit (loss) carried forward +€61,153
up €61,153 (+83.9%), from €72,865 to €134,018
- Tax, wage and social debts -€18,733
down €18,733 (-29.4%), from €63,617 to €44,884
- Trade debts +€2,721
up €2,721 (+106.5%), from €2,555 to €5,276
- Gross operating margin -€8,210
down €8,210 (-8.8%), from €93,489 to €85,279
- Financial income -€7,736
no longer reported in 2025 (was €7,736)
- Depreciation -€3,339
down €3,339 (-43.3%), from €7,703 to €4,364
- Taxes -€1,509
down €1,509 (-7.5%), from €20,030 to €18,521
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 | €141,037 | €186,177 | +€45,140 | +32.0% |
| Fixed assets | 21/28 | €8,289 | €15,290 | +€7,001 | +84.5% |
| Tangible fixed assets | 22/27 | €8,289 | €15,290 | +€7,001 | +84.5% |
| Furniture and vehicles | 24 | €8,289 | €15,290 | +€7,001 | +84.5% |
| Current assets | 29/58 | €132,748 | €170,887 | +€38,140 | +28.7% |
| Amounts receivable within one year | 40/41 | €117,200 | €164,514 | +€47,314 | +40.4% |
| Trade receivables | 40 | €12,503 | - | -€12,503 | |
| Other amounts receivable | 41 | €104,696 | €164,514 | +€59,817 | +57.1% |
| Cash at bank and in hand | 54/58 | €14,855 | €5,164 | -€9,691 | -65.2% |
| Deferred charges and accrued income | 490/1 | €693 | €1,210 | +€517 | +74.6% |
| Total equity and liabilities | 10/49 | €141,037 | €186,177 | +€45,140 | +32.0% |
| Equity | 10/15 | €74,865 | €136,018 | +€61,153 | +81.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,865 | €134,018 | +€61,153 | +83.9% |
| Amounts payable | 17/49 | €66,172 | €50,159 | -€16,012 | -24.2% |
| Amounts payable within one year | 42/48 | €66,172 | €50,159 | -€16,012 | -24.2% |
| Trade debts | 44 | €2,555 | €5,276 | +€2,721 | +106.5% |
| Suppliers | 440/4 | €2,555 | €5,276 | +€2,721 | +106.5% |
| Taxes, remuneration and social security | 45 | €63,617 | €44,884 | -€18,733 | -29.4% |
| Taxes | 450/3 | €63,617 | €44,884 | -€18,733 | -29.4% |
| Non-recurring operating income | 76A | - | €16,575 | +€16,575 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,703 | €4,364 | -€3,339 | -43.3% |
| Other operating charges | 640/8 | - | €387 | +€387 | |
| Gross operating margin | 9900 | €93,489 | €85,279 | -€8,210 | -8.8% |
| Operating profit (loss) | 9901 | €85,786 | €80,527 | -€5,259 | -6.1% |
| Financial income | 75/76B | €7,736 | - | -€7,736 | |
| Recurring financial income | 75 | €7,736 | - | -€7,736 | |
| Financial charges | 65/66B | €627 | €854 | +€227 | +36.2% |
| Recurring financial charges | 65 | €627 | €854 | +€227 | +36.2% |
| Profit (loss) for the period before taxes | 9903 | €92,895 | €79,674 | -€13,221 | -14.2% |
| Income taxes | 67/77 | €20,030 | €18,521 | -€1,509 | -7.5% |
| Profit (loss) for the period | 9904 | €72,865 | €61,153 | -€11,712 | -16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €72,865 | €61,153 | -€11,712 | -16.1% |
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.