QUATRE: 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.
QUATRE
Largest movements
- Tangible fixed assets +€141,494
up €141,494 (+51.1%), from €276,724 to €418,218
of which Land and buildings: +€139,031
- Receivables within one year +€103,320
up €103,320 (+40.8%), from €253,382 to €356,702
of which Trade receivables: +€103,296
- Deferred charges and accrued income -€54,154
down €54,154 (-99.9%), from €54,202 to €48
- Current investments +€18,000
up €18,000 (+1,200%), from €1,500 to €19,500
- Cash -€15,172
down €15,172 (-34.8%), from €43,650 to €28,478
mainly Investment in fixed assets (net) (-€167,406) and Receivables within one year (-€103,320)
- Debts after one year +€93,246
up €93,246 (+71.4%), from €130,620 to €223,866
- Advances received +€41,471
up €41,471 (+534%), from €7,761 to €49,232
- Trade debts +€23,349
up €23,349 (+79.8%), from €29,258 to €52,607
- Current portion of long-term debt +€20,388
up €20,388 (+466%), from €4,380 to €24,767
- Gross operating margin +€20,875
up €20,875 (+84.2%), from €24,792 to €45,667
- Depreciation +€14,934
up €14,934 (+136%), from €10,978 to €25,912
- Financial charges -€3,731
down €3,731 (-74.2%), from €5,028 to €1,297
- Financial income -€3,663
down €3,663 (-97.2%), from €3,767 to €105
- Taxes +€1,147
up €1,147 (+21.4%), from €5,368 to €6,515
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 | €898,389 | €1,091,877 | +€193,488 | +21.5% |
| Fixed assets | 21/28 | €514,815 | €656,309 | +€141,494 | +27.5% |
| Tangible fixed assets | 22/27 | €276,724 | €418,218 | +€141,494 | +51.1% |
| Land and buildings | 22 | €174,085 | €313,116 | +€139,031 | +79.9% |
| Plant, machinery and equipment | 23 | €9,942 | €24,408 | +€14,466 | +146% |
| Furniture and vehicles | 24 | €25,746 | €21,565 | -€4,181 | -16.2% |
| Other tangible fixed assets | 26 | €66,951 | €59,129 | -€7,822 | -11.7% |
| Financial fixed assets | 28 | €238,091 | €238,091 | = | 0.0% |
| Current assets | 29/58 | €383,574 | €435,569 | +€51,995 | +13.6% |
| Stocks and contracts in progress | 3 | €30,841 | €30,841 | = | 0.0% |
| Stocks | 30/36 | €30,841 | €30,841 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €253,382 | €356,702 | +€103,320 | +40.8% |
| Trade receivables | 40 | €142,109 | €245,405 | +€103,296 | +72.7% |
| Other amounts receivable | 41 | €111,273 | €111,297 | +€24 | 0.0% |
| Current investments | 50/53 | €1,500 | €19,500 | +€18,000 | +1,200% |
| Cash at bank and in hand | 54/58 | €43,650 | €28,478 | -€15,172 | -34.8% |
| Deferred charges and accrued income | 490/1 | €54,202 | €48 | -€54,154 | -99.9% |
| Total equity and liabilities | 10/49 | €898,389 | €1,091,877 | +€193,488 | +21.5% |
| Equity | 10/15 | €624,533 | €631,390 | +€6,857 | +1.1% |
| Contributions | 10/11 | €78,600 | €78,600 | = | 0.0% |
| Reserves | 13 | €140,000 | €140,000 | = | 0.0% |
| Distributable reserves | 133 | €140,000 | €140,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €405,933 | €412,790 | +€6,857 | +1.7% |
| Amounts payable | 17/49 | €273,856 | €460,488 | +€186,632 | +68.1% |
| Amounts payable after more than one year | 17 | €130,620 | €223,866 | +€93,246 | +71.4% |
| Financial debts | 170/4 | €130,620 | €223,866 | +€93,246 | +71.4% |
| Amounts payable within one year | 42/48 | €143,235 | €236,621 | +€93,386 | +65.2% |
| Current portion of amounts payable after more than one year | 42 | €4,380 | €24,767 | +€20,388 | +466% |
| Financial debts | 43 | €1,006 | €559 | -€447 | -44.4% |
| Credit institutions | 430/8 | €1,006 | €559 | -€447 | -44.4% |
| Trade debts | 44 | €29,258 | €52,607 | +€23,349 | +79.8% |
| Suppliers | 440/4 | €29,258 | €52,607 | +€23,349 | +79.8% |
| Advances received on contracts in progress | 46 | €7,761 | €49,232 | +€41,471 | +534% |
| Taxes, remuneration and social security | 45 | €6,723 | €9,053 | +€2,330 | +34.7% |
| Taxes | 450/3 | €6,723 | €9,053 | +€2,330 | +34.7% |
| Other amounts payable | 47/48 | €94,107 | €100,403 | +€6,296 | +6.7% |
| Non-recurring operating income | 76A | €6,073 | €0 | -€6,073 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,978 | €25,912 | +€14,934 | +136% |
| Other operating charges | 640/8 | €3,990 | €3,157 | -€833 | -20.9% |
| Gross operating margin | 9900 | €24,792 | €45,667 | +€20,875 | +84.2% |
| Operating profit (loss) | 9901 | €9,825 | €16,599 | +€6,774 | +69.0% |
| Financial income | 75/76B | €3,767 | €105 | -€3,663 | -97.2% |
| Recurring financial income | 75 | €3,767 | €105 | -€3,663 | -97.2% |
| Financial charges | 65/66B | €5,028 | €1,297 | -€3,731 | -74.2% |
| Recurring financial charges | 65 | €5,028 | €1,297 | -€3,731 | -74.2% |
| Profit (loss) for the period before taxes | 9903 | €8,564 | €15,406 | +€6,842 | +79.9% |
| Income taxes | 67/77 | €5,368 | €6,515 | +€1,147 | +21.4% |
| Profit (loss) for the period | 9904 | €3,196 | €8,891 | +€5,695 | +178% |
| Profit (loss) for the period to be appropriated | 9905 | €3,196 | €8,891 | +€5,695 | +178% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.