Quatre d’Or: 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 d’Or
Largest movements
- Tangible fixed assets +€29,839
up €29,839 (+35.6%), from €83,700 to €113,538
of which Furniture and vehicles: +€37,661
- Cash +€18,823
up €18,823 (+101%), from €18,704 to €37,527
mainly Depreciation (+€30,799) and Net result for the year (+€22,027)
- Intangible fixed assets -€7,000
down €7,000 (-11.2%), from €62,693 to €55,693
- Receivables within one year +€3,522
up €3,522 (+716%), from €492 to €4,015
- Reserves +€22,027
up €22,027 (+127%), from €17,391 to €39,417
- Trade debts +€8,500
up €8,500 (+32.9%), from €25,857 to €34,357
- Current portion of long-term debt +€8,131
up €8,131 (+33.4%), from €24,346 to €32,478
- Tax, wage and social debts +€7,493
up €7,493 (+53.7%), from €13,959 to €21,452
of which Taxes: +€7,879
- Staff costs -€27,112
down €27,112 (-79.7%), from €34,027 to €6,915
- Gross operating margin -€12,869
down €12,869 (-14.9%), from €86,210 to €73,341
- Depreciation +€9,634
up €9,634 (+45.5%), from €21,166 to €30,799
- Other operating charges -€1,114
down €1,114 (-71.9%), from €1,550 to €436
- Financial charges +€1,081
up €1,081 (+17.3%), from €6,263 to €7,345
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 | €197,471 | €241,345 | +€43,874 | +22.2% |
| Fixed assets | 21/28 | €146,393 | €169,232 | +€22,839 | +15.6% |
| Intangible fixed assets | 21 | €62,693 | €55,693 | -€7,000 | -11.2% |
| Tangible fixed assets | 22/27 | €83,700 | €113,538 | +€29,839 | +35.6% |
| Plant, machinery and equipment | 23 | €45,430 | €38,796 | -€6,634 | -14.6% |
| Furniture and vehicles | 24 | €10,436 | €48,097 | +€37,661 | +361% |
| Other tangible fixed assets | 26 | €27,834 | €26,646 | -€1,188 | -4.3% |
| Current assets | 29/58 | €51,078 | €72,114 | +€21,036 | +41.2% |
| Stocks and contracts in progress | 3 | €27,914 | €27,232 | -€682 | -2.4% |
| Stocks | 30/36 | €27,914 | €27,232 | -€682 | -2.4% |
| Amounts receivable within one year | 40/41 | €492 | €4,015 | +€3,522 | +716% |
| Other amounts receivable | 41 | €492 | €4,015 | +€3,522 | +716% |
| Cash at bank and in hand | 54/58 | €18,704 | €37,527 | +€18,823 | +101% |
| Deferred charges and accrued income | 490/1 | €3,968 | €3,340 | -€628 | -15.8% |
| Total equity and liabilities | 10/49 | €197,471 | €241,345 | +€43,874 | +22.2% |
| Equity | 10/15 | €27,391 | €49,417 | +€22,027 | +80.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €17,391 | €39,417 | +€22,027 | +127% |
| Distributable reserves | 133 | €17,391 | €39,417 | +€22,027 | +127% |
| Amounts payable | 17/49 | €170,080 | €191,928 | +€21,848 | +12.8% |
| Amounts payable after more than one year | 17 | €105,918 | €103,641 | -€2,277 | -2.1% |
| Financial debts | 170/4 | €105,918 | €103,641 | -€2,277 | -2.1% |
| Amounts payable within one year | 42/48 | €64,162 | €88,287 | +€24,124 | +37.6% |
| Current portion of amounts payable after more than one year | 42 | €24,346 | €32,478 | +€8,131 | +33.4% |
| Trade debts | 44 | €25,857 | €34,357 | +€8,500 | +32.9% |
| Suppliers | 440/4 | €25,857 | €34,357 | +€8,500 | +32.9% |
| Taxes, remuneration and social security | 45 | €13,959 | €21,452 | +€7,493 | +53.7% |
| Taxes | 450/3 | €9,349 | €17,228 | +€7,879 | +84.3% |
| Remuneration and social security | 454/9 | €4,609 | €4,224 | -€386 | -8.4% |
| Remuneration, social security and pensions | 62 | €34,027 | €6,915 | -€27,112 | -79.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,166 | €30,799 | +€9,634 | +45.5% |
| Other operating charges | 640/8 | €1,550 | €436 | -€1,114 | -71.9% |
| Gross operating margin | 9900 | €86,210 | €73,341 | -€12,869 | -14.9% |
| Operating profit (loss) | 9901 | €29,467 | €35,191 | +€5,724 | +19.4% |
| Financial income | 75/76B | €7 | €140 | +€133 | +1,833% |
| Recurring financial income | 75 | €7 | €140 | +€133 | +1,833% |
| Financial charges | 65/66B | €6,263 | €7,345 | +€1,081 | +17.3% |
| Recurring financial charges | 65 | €6,263 | €7,345 | +€1,081 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | €23,211 | €27,986 | +€4,775 | +20.6% |
| Income taxes | 67/77 | €5,821 | €5,959 | +€139 | +2.4% |
| Profit (loss) for the period | 9904 | €17,391 | €22,027 | +€4,636 | +26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,391 | €22,027 | +€4,636 | +26.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.