QUASAREX: 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.
QUASAREX
Largest movements
- Cash +€24,708
up €24,708 (+343%), from €7,197 to €31,905
mainly Net result for the year (+€49,066) and Receivables within one year (+€4,767)
- Current investments +€23,483
up €23,483 (+12.1%), from €194,399 to €217,882
- Receivables within one year -€4,767
down €4,767 (-8.9%), from €53,716 to €48,949
of which Trade receivables: -€2,422
- Reserves +€46,566
up €46,566 (+28.2%), from €165,276 to €211,842
of which Distributable reserves: +€46,566
- Short-term financial debts -€8,129
no longer reported in 2025 (was €8,129)
- Tax, wage and social debts +€3,768
up €3,768 (+33.3%), from €11,320 to €15,088
- Financial income +€30,345
up €30,345 (+457%), from €6,646 to €36,991
of which Financial income: +€30,307
- Gross operating margin -€14,427
down €14,427 (-25.9%), from €55,711 to €41,284
- Taxes +€4,118
up €4,118 (+21.8%), from €18,863 to €22,981
- Financial charges +€1,730
up €1,730 (+65.8%), from €2,630 to €4,360
of which Financial charges: +€1,760
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 | €258,454 | €301,819 | +€43,365 | +16.8% |
| Fixed assets | 21/28 | €2,526 | €2,355 | -€171 | -6.8% |
| Tangible fixed assets | 22/27 | €2,526 | €2,355 | -€171 | -6.8% |
| Furniture and vehicles | 24 | €2,526 | €2,355 | -€171 | -6.8% |
| Current assets | 29/58 | €255,928 | €299,464 | +€43,536 | +17.0% |
| Amounts receivable within one year | 40/41 | €53,716 | €48,949 | -€4,767 | -8.9% |
| Trade receivables | 40 | €8,707 | €6,285 | -€2,422 | -27.8% |
| Other amounts receivable | 41 | €45,009 | €42,664 | -€2,345 | -5.2% |
| Current investments | 50/53 | €194,399 | €217,882 | +€23,483 | +12.1% |
| Cash at bank and in hand | 54/58 | €7,197 | €31,905 | +€24,708 | +343% |
| Deferred charges and accrued income | 490/1 | €616 | €728 | +€112 | +18.2% |
| Total equity and liabilities | 10/49 | €258,454 | €301,819 | +€43,365 | +16.8% |
| Equity | 10/15 | €195,276 | €241,842 | +€46,566 | +23.8% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €165,276 | €211,842 | +€46,566 | +28.2% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €162,276 | €208,842 | +€46,566 | +28.7% |
| Amounts payable | 17/49 | €63,178 | €59,977 | -€3,201 | -5.1% |
| Amounts payable within one year | 42/48 | €62,728 | €59,452 | -€3,276 | -5.2% |
| Financial debts | 43 | €8,129 | - | -€8,129 | |
| Credit institutions | 430/8 | €8,129 | - | -€8,129 | |
| Trade debts | 44 | €464 | €222 | -€242 | -52.2% |
| Suppliers | 440/4 | €464 | €222 | -€242 | -52.2% |
| Taxes, remuneration and social security | 45 | €11,320 | €15,088 | +€3,768 | +33.3% |
| Taxes | 450/3 | €11,320 | €15,088 | +€3,768 | +33.3% |
| Other amounts payable | 47/48 | €42,815 | €44,142 | +€1,327 | +3.1% |
| Accrued charges and deferred income | 492/3 | €450 | €525 | +€75 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,070 | €1,134 | +€64 | +6.0% |
| Other operating charges | 640/8 | €835 | €734 | -€101 | -12.1% |
| Gross operating margin | 9900 | €55,711 | €41,284 | -€14,427 | -25.9% |
| Operating profit (loss) | 9901 | €53,806 | €39,416 | -€14,390 | -26.7% |
| Financial income | 75/76B | €6,646 | €36,991 | +€30,345 | +457% |
| Recurring financial income | 75 | €6,646 | €36,953 | +€30,307 | +456% |
| Non-recurring financial income | 76B | - | €38 | +€38 | |
| Financial charges | 65/66B | €2,630 | €4,360 | +€1,730 | +65.8% |
| Recurring financial charges | 65 | €2,600 | €4,360 | +€1,760 | +67.7% |
| Non-recurring financial charges | 66B | €30 | - | -€30 | |
| Profit (loss) for the period before taxes | 9903 | €57,822 | €72,047 | +€14,225 | +24.6% |
| Income taxes | 67/77 | €18,863 | €22,981 | +€4,118 | +21.8% |
| Profit (loss) for the period | 9904 | €38,959 | €49,066 | +€10,107 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €38,959 | €49,066 | +€10,107 | +25.9% |
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 25 October 2026 via checked.be.