QUATTRO: 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.
QUATTRO
Largest movements
- Stocks and contracts +€212,828
new in 2025: €212,828
- Tangible fixed assets +€114,692
up €114,692 (+9.6%), from €1.2m to €1.3m
of which Land and buildings: +€118,818
- Cash +€17,718
up €17,718 (+282%), from €6,288 to €24,006
mainly Debts after one year (+€212,917) and Other debts (+€66,004)
- Debts after one year +€212,917
up €212,917 (+51.1%), from €416,560 to €629,478
- Other debts +€66,004
up €66,004 (+16.5%), from €400,927 to €466,931
- Reserves +€48,551
up €48,551 (+19.4%), from €250,105 to €298,657
- Trade debts +€16,602
up €16,602 (+102%), from €16,281 to €32,883
- Depreciation -€19,346
down €19,346 (-25.6%), from €75,562 to €56,216
- Financial charges +€7,998
up €7,998 (+100%), from €7,989 to €15,987
- Gross operating margin -€3,665
down €3,665 (-2.4%), from €154,780 to €151,115
- Other operating charges +€2,870
up €2,870 (+28.4%), from €10,114 to €12,983
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 | €1,222,307 | €1,567,586 | +€345,279 | +28.2% |
| Fixed assets | 21/28 | €1,214,207 | €1,328,899 | +€114,692 | +9.4% |
| Tangible fixed assets | 22/27 | €1,195,624 | €1,310,316 | +€114,692 | +9.6% |
| Land and buildings | 22 | €1,187,372 | €1,306,190 | +€118,818 | +10.0% |
| Plant, machinery and equipment | 23 | €3,032 | €1,516 | -€1,516 | -50.0% |
| Furniture and vehicles | 24 | €5,221 | €2,611 | -€2,611 | -50.0% |
| Financial fixed assets | 28 | €18,583 | €18,583 | = | 0.0% |
| Current assets | 29/58 | €8,101 | €238,688 | +€230,587 | +2,847% |
| Stocks and contracts in progress | 3 | - | €212,828 | +€212,828 | |
| Stocks | 30/36 | - | €212,828 | +€212,828 | |
| Amounts receivable within one year | 40/41 | €726 | €726 | = | 0.0% |
| Trade receivables | 40 | €726 | €726 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,288 | €24,006 | +€17,718 | +282% |
| Deferred charges and accrued income | 490/1 | €1,087 | €1,127 | +€41 | +3.7% |
| Total equity and liabilities | 10/49 | €1,222,307 | €1,567,586 | +€345,279 | +28.2% |
| Equity | 10/15 | €317,560 | €366,112 | +€48,551 | +15.3% |
| Contributions | 10/11 | €24,800 | €24,800 | = | 0.0% |
| Reserves | 13 | €250,105 | €298,657 | +€48,551 | +19.4% |
| Distributable reserves | 133 | €250,105 | €298,657 | +€48,551 | +19.4% |
| Profit (loss) carried forward | 14 | €42,655 | €42,655 | = | 0.0% |
| Amounts payable | 17/49 | €904,747 | €1,201,475 | +€296,728 | +32.8% |
| Amounts payable after more than one year | 17 | €416,560 | €629,478 | +€212,917 | +51.1% |
| Financial debts | 170/4 | €416,560 | €629,478 | +€212,917 | +51.1% |
| Amounts payable within one year | 42/48 | €488,187 | €571,997 | +€83,810 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €57,917 | €63,602 | +€5,685 | +9.8% |
| Trade debts | 44 | €16,281 | €32,883 | +€16,602 | +102% |
| Suppliers | 440/4 | €16,281 | €32,883 | +€16,602 | +102% |
| Taxes, remuneration and social security | 45 | €13,062 | €8,581 | -€4,481 | -34.3% |
| Taxes | 450/3 | €13,062 | €8,581 | -€4,481 | -34.3% |
| Other amounts payable | 47/48 | €400,927 | €466,931 | +€66,004 | +16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,562 | €56,216 | -€19,346 | -25.6% |
| Other operating charges | 640/8 | €10,114 | €12,983 | +€2,870 | +28.4% |
| Gross operating margin | 9900 | €154,780 | €151,115 | -€3,665 | -2.4% |
| Operating profit (loss) | 9901 | €69,104 | €81,916 | +€12,812 | +18.5% |
| Financial income | 75/76B | - | €828 | +€828 | |
| Recurring financial income | 75 | - | €828 | +€828 | |
| Financial charges | 65/66B | €7,989 | €15,987 | +€7,998 | +100% |
| Recurring financial charges | 65 | €7,989 | €15,987 | +€7,998 | +100% |
| Profit (loss) for the period before taxes | 9903 | €61,115 | €66,758 | +€5,643 | +9.2% |
| Income taxes | 67/77 | €16,872 | €18,207 | +€1,334 | +7.9% |
| Profit (loss) for the period | 9904 | €44,243 | €48,551 | +€4,308 | +9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €44,243 | €48,551 | +€4,308 | +9.7% |
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 15 October 2026 via checked.be.