QUATROZ: 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.
What changed
QUATROZ
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€179,708
2024 · €199,390-€19,682
Equity
€4.0m
2024 · €3.9m+€19,708
Cash
€39,981
2024 · €32,884+€7,098
Balance sheet total
€4.1m
2024 · €4.2m-€121,798
Largest movements
Assets
- Receivables within one year -€102,642
down €102,642 (-96.8%), from €106,001 to €3,359
of which Other amounts receivable: -€101,832
Equity and liabilities
- Other debts -€138,421
down €138,421 (-53.4%), from €259,271 to €120,850
Income statement
- Depreciation +€27,721
up €27,721 (+3,376%), from €821 to €28,542
- Other operating charges -€18,074
down €18,074 (-99.0%), from €18,251 to €176
- Financial income -€8,771
down €8,771 (-4.2%), from €209,573 to €200,802
- Services and other goods +€3,786
up €3,786 (+2.0%), from €186,151 to €189,937
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.
Result 2024
€199,390
Turnover
+€1,395
Other operating income
+€1,243
Services and other goods
-€3,786
Depreciation
-€27,721
Other operating charges
+€18,074
Financial income
-€8,771
Financial charges
+€12
Taxes
-€128
Result 2025
€179,708
raises the resultlowers the result
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.
From operations
+€169,843
Investment
-€2,745
Financing
-€160,000
Cash 2024
€32,884
From operations (derived)
+€169,843
Net result for the year
+€179,708
Depreciation
+€28,542
Receivables within one year
+€102,642
Deferred charges and accrued income
+€456
Trade debts
-€2,608
Smaller working-capital items
-€477
Other debts
-€138,421
Investment (derived)
-€2,745
Investment in fixed assets (net)
-€2,745
Financing
-€160,000
Contributions, distributions and other
-€160,000
Cash 2025
€39,981
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,222,419 | €4,100,621 | -€121,798 | -2.9% |
| Fixed assets | 21/28 | €4,076,327 | €4,050,529 | -€25,797 | -0.6% |
| Tangible fixed assets | 22/27 | €141,327 | €115,529 | -€25,797 | -18.3% |
| Furniture and vehicles | 24 | €141,327 | €115,529 | -€25,797 | -18.3% |
| Financial fixed assets | 28 | €3,935,000 | €3,935,000 | = | 0.0% |
| Affiliated companies | 280/1 | €3,935,000 | €3,935,000 | = | 0.0% |
| Participating interests | 280 | €3,935,000 | €3,935,000 | = | 0.0% |
| Current assets | 29/58 | €146,092 | €50,092 | -€96,000 | -65.7% |
| Amounts receivable within one year | 40/41 | €106,001 | €3,359 | -€102,642 | -96.8% |
| Trade receivables | 40 | €811 | - | -€811 | |
| Other amounts receivable | 41 | €105,190 | €3,359 | -€101,832 | -96.8% |
| Cash at bank and in hand | 54/58 | €32,884 | €39,981 | +€7,098 | +21.6% |
| Deferred charges and accrued income | 490/1 | €7,208 | €6,752 | -€456 | -6.3% |
| Total equity and liabilities | 10/49 | €4,222,419 | €4,100,621 | -€121,798 | -2.9% |
| Equity | 10/15 | €3,945,660 | €3,965,368 | +€19,708 | +0.5% |
| Contributions | 10/11 | €3,935,000 | €3,935,000 | = | 0.0% |
| Reserves | 13 | €10,660 | €30,368 | +€19,708 | +185% |
| Distributable reserves | 133 | €10,660 | €30,368 | +€19,708 | +185% |
| Amounts payable | 17/49 | €276,759 | €135,253 | -€141,506 | -51.1% |
| Amounts payable within one year | 42/48 | €271,621 | €130,502 | -€141,119 | -52.0% |
| Trade debts | 44 | €6,895 | €4,287 | -€2,608 | -37.8% |
| Suppliers | 440/4 | €6,895 | €4,287 | -€2,608 | -37.8% |
| Taxes, remuneration and social security | 45 | €5,455 | €5,365 | -€90 | -1.6% |
| Taxes | 450/3 | €5,455 | €5,365 | -€90 | -1.6% |
| Other amounts payable | 47/48 | €259,271 | €120,850 | -€138,421 | -53.4% |
| Accrued charges and deferred income | 492/3 | €5,138 | €4,751 | -€387 | -7.5% |
| Operating income | 70/76A | €201,365 | €204,003 | +€2,639 | +1.3% |
| Turnover | 70 | €198,489 | €199,884 | +€1,395 | +0.7% |
| Other operating income | 74 | €2,876 | €4,119 | +€1,243 | +43.2% |
| Operating charges | 60/66A | €205,223 | €218,656 | +€13,433 | +6.5% |
| Services and other goods | 61 | €186,151 | €189,937 | +€3,786 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €821 | €28,542 | +€27,721 | +3,376% |
| Other operating charges | 640/8 | €18,251 | €176 | -€18,074 | -99.0% |
| Operating profit (loss) | 9901 | -€3,858 | -€14,652 | -€10,794 | -280% |
| Financial income | 75/76B | €209,573 | €200,802 | -€8,771 | -4.2% |
| Recurring financial income | 75 | €209,573 | €200,802 | -€8,771 | -4.2% |
| Income from financial fixed assets | 750 | €207,533 | €199,896 | -€7,636 | -3.7% |
| Income from current assets | 751 | €2,040 | €894 | -€1,146 | -56.2% |
| Other financial income | 752/9 | - | €12 | +€12 | |
| Financial charges | 65/66B | €5,974 | €5,962 | -€12 | -0.2% |
| Recurring financial charges | 65 | €5,974 | €5,962 | -€12 | -0.2% |
| Debt charges | 650 | €5,138 | €4,751 | -€387 | -7.5% |
| Other financial charges | 652/9 | €836 | €1,212 | +€376 | +44.9% |
| Profit (loss) for the period before taxes | 9903 | €199,741 | €180,188 | -€19,553 | -9.8% |
| Income taxes | 67/77 | €351 | €479 | +€128 | +36.6% |
| Taxes | 670/3 | €351 | €479 | +€128 | +36.6% |
| Profit (loss) for the period | 9904 | €199,390 | €179,708 | -€19,682 | -9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €199,390 | €179,708 | -€19,682 | -9.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.