QUATRO I: what changed
QUATRO I
Largest movements
- Cash +€6,031
up €6,031 (+12.6%), from €47,996 to €54,028
mainly Trade debts (+€6,564) and Advances received (+€2,556)
- Receivables within one year +€5,919
up €5,919 (+85.0%), from €6,963 to €12,882
of which Other amounts receivable: +€3,293
- Tangible fixed assets -€1,777
down €1,777 (-38.6%), from €4,603 to €2,826
- Trade debts +€6,564
up €6,564 (+53.0%), from €12,392 to €18,956
- Advances received +€2,556
new in 2025: €2,556
- Reserves +€2,230
up €2,230 (+4.7%), from €47,698 to €49,928
of which Distributable reserves: +€4,090
- Tax, wage and social debts -€983
down €983 (-10.4%), from €9,476 to €8,492
of which Taxes: -€1,695
- Staff costs +€19,479
up €19,479 (+12.0%), from €162,224 to €181,703
- Gross operating margin +€12,544
up €12,544 (+7.1%), from €175,542 to €188,086
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €75,766 | €86,133 | +€10,366 | +13.7% |
| Fixed assets | 21/28 | €13,813 | €12,036 | -€1,777 | -12.9% |
| Tangible fixed assets | 22/27 | €4,603 | €2,826 | -€1,777 | -38.6% |
| Plant, machinery and equipment | 23 | €4,603 | €2,826 | -€1,777 | -38.6% |
| Financial fixed assets | 28 | €9,210 | €9,210 | = | 0.0% |
| Current assets | 29/58 | €61,953 | €74,096 | +€12,143 | +19.6% |
| Stocks and contracts in progress | 3 | €3,250 | €3,250 | = | 0.0% |
| Stocks | 30/36 | €3,250 | €3,250 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €6,963 | €12,882 | +€5,919 | +85.0% |
| Trade receivables | 40 | €1,099 | €3,725 | +€2,627 | +239% |
| Other amounts receivable | 41 | €5,864 | €9,157 | +€3,293 | +56.2% |
| Cash at bank and in hand | 54/58 | €47,996 | €54,028 | +€6,031 | +12.6% |
| Deferred charges and accrued income | 490/1 | €3,745 | €3,937 | +€192 | +5.1% |
| Total equity and liabilities | 10/49 | €75,766 | €86,133 | +€10,366 | +13.7% |
| Equity | 10/15 | €53,898 | €56,128 | +€2,230 | +4.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €47,698 | €49,928 | +€2,230 | +4.7% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Tax-exempt reserves | 132 | €29,080 | €29,080 | = | 0.0% |
| Distributable reserves | 133 | €16,758 | €20,848 | +€4,090 | +24.4% |
| Amounts payable | 17/49 | €21,868 | €30,005 | +€8,137 | +37.2% |
| Amounts payable within one year | 42/48 | €21,868 | €30,005 | +€8,137 | +37.2% |
| Trade debts | 44 | €12,392 | €18,956 | +€6,564 | +53.0% |
| Suppliers | 440/4 | €12,392 | €18,956 | +€6,564 | +53.0% |
| Advances received on contracts in progress | 46 | - | €2,556 | +€2,556 | |
| Taxes, remuneration and social security | 45 | €9,476 | €8,492 | -€983 | -10.4% |
| Taxes | 450/3 | €4,259 | €2,565 | -€1,695 | -39.8% |
| Remuneration and social security | 454/9 | €5,216 | €5,928 | +€711 | +13.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €162,224 | €181,703 | +€19,479 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,368 | €2,251 | -€117 | -4.9% |
| Other operating charges | 640/8 | €119 | €618 | +€500 | +420% |
| Gross operating margin | 9900 | €175,542 | €188,086 | +€12,544 | +7.1% |
| Operating profit (loss) | 9901 | €10,831 | €3,513 | -€7,318 | -67.6% |
| Financial income | 75/76B | €196 | €222 | +€26 | +13.0% |
| Recurring financial income | 75 | €196 | €222 | +€26 | +13.0% |
| Financial charges | 65/66B | €1,037 | €1,505 | +€468 | +45.2% |
| Recurring financial charges | 65 | €1,037 | €1,505 | +€468 | +45.2% |
| Profit (loss) for the period before taxes | 9903 | €9,991 | €2,230 | -€7,761 | -77.7% |
| Profit (loss) for the period | 9904 | €9,991 | €2,230 | -€7,761 | -77.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,991 | €2,230 | -€7,761 | -77.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.