QUATTRONDO: 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.
QUATTRONDO
Largest movements
- Receivables within one year -€113,885
down €113,885 (-51.8%), from €219,865 to €105,980
of which Trade receivables: -€86,220
- Cash -€35,870
down €35,870 (-25.0%), from €143,384 to €107,514
mainly Contributions, distributions and other (-€200,902) and Advances received (-€50,000)
- Tangible fixed assets -€30,336
down €30,336 (-30.0%), from €101,242 to €70,906
of which Plant, machinery and equipment: -€18,230
- Reserves -€119,261
down €119,261 (-37.1%), from €321,537 to €202,276
of which Distributable reserves: -€119,261
- Advances received -€50,000
down €50,000 (-100%), from €50,000 to €0
- Trade debts -€20,255
down €20,255 (-29.1%), from €69,611 to €49,356
- Tax, wage and social debts +€16,746
up €16,746 (+149%), from €11,219 to €27,965
of which Taxes: +€13,652
- Current portion of long-term debt -€11,135
down €11,135 (-100%), from €11,135 to €0
- Gross operating margin +€76,427
up €76,427 (+36.2%), from €211,208 to €287,634
- Taxes +€23,444
up €23,444 (+158%), from €14,877 to €38,321
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 | €621,346 | €436,531 | -€184,816 | -29.7% |
| Fixed assets | 21/28 | €106,442 | €73,119 | -€33,324 | -31.3% |
| Intangible fixed assets | 21 | €5,100 | €2,112 | -€2,988 | -58.6% |
| Tangible fixed assets | 22/27 | €101,242 | €70,906 | -€30,336 | -30.0% |
| Land and buildings | 22 | €1,487 | €1,070 | -€417 | -28.0% |
| Plant, machinery and equipment | 23 | €84,277 | €66,047 | -€18,230 | -21.6% |
| Furniture and vehicles | 24 | €15,477 | €3,789 | -€11,688 | -75.5% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €514,904 | €363,412 | -€151,492 | -29.4% |
| Stocks and contracts in progress | 3 | €41,350 | €36,775 | -€4,575 | -11.1% |
| Stocks | 30/36 | €41,350 | €36,775 | -€4,575 | -11.1% |
| Amounts receivable within one year | 40/41 | €219,865 | €105,980 | -€113,885 | -51.8% |
| Trade receivables | 40 | €192,200 | €105,980 | -€86,220 | -44.9% |
| Other amounts receivable | 41 | €27,666 | €0 | -€27,666 | -100% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €143,384 | €107,514 | -€35,870 | -25.0% |
| Deferred charges and accrued income | 490/1 | €10,305 | €13,143 | +€2,838 | +27.5% |
| Total equity and liabilities | 10/49 | €621,346 | €436,531 | -€184,816 | -29.7% |
| Equity | 10/15 | €339,079 | €219,818 | -€119,261 | -35.2% |
| Contributions | 10/11 | €17,542 | €17,542 | = | 0.0% |
| Reserves | 13 | €321,537 | €202,276 | -€119,261 | -37.1% |
| Tax-exempt reserves | 132 | €7,873 | €7,873 | = | 0.0% |
| Distributable reserves | 133 | €313,663 | €194,402 | -€119,261 | -38.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €282,268 | €216,713 | -€65,555 | -23.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €281,037 | €216,713 | -€64,324 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €11,135 | €0 | -€11,135 | -100% |
| Trade debts | 44 | €69,611 | €49,356 | -€20,255 | -29.1% |
| Suppliers | 440/4 | €69,611 | €49,356 | -€20,255 | -29.1% |
| Advances received on contracts in progress | 46 | €50,000 | €0 | -€50,000 | -100% |
| Taxes, remuneration and social security | 45 | €11,219 | €27,965 | +€16,746 | +149% |
| Taxes | 450/3 | €1,503 | €15,154 | +€13,652 | +909% |
| Remuneration and social security | 454/9 | €9,717 | €12,811 | +€3,094 | +31.8% |
| Other amounts payable | 47/48 | €139,071 | €139,391 | +€321 | +0.2% |
| Accrued charges and deferred income | 492/3 | €1,231 | €0 | -€1,231 | -100% |
| Remuneration, social security and pensions | 62 | €104,392 | €106,917 | +€2,526 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,525 | €59,324 | -€2,201 | -3.6% |
| Other operating charges | 640/8 | €8,863 | €8,557 | -€306 | -3.5% |
| Gross operating margin | 9900 | €211,208 | €287,634 | +€76,427 | +36.2% |
| Operating profit (loss) | 9901 | €36,428 | €112,836 | +€76,408 | +210% |
| Financial income | 75/76B | €9,964 | €7,545 | -€2,420 | -24.3% |
| Recurring financial income | 75 | €9,964 | €7,545 | -€2,420 | -24.3% |
| Financial charges | 65/66B | €3,039 | €418 | -€2,621 | -86.2% |
| Recurring financial charges | 65 | €3,039 | €418 | -€2,621 | -86.2% |
| Profit (loss) for the period before taxes | 9903 | €43,353 | €119,963 | +€76,609 | +177% |
| Income taxes | 67/77 | €14,877 | €38,321 | +€23,444 | +158% |
| Profit (loss) for the period | 9904 | €28,476 | €81,642 | +€53,165 | +187% |
| Profit (loss) for the period to be appropriated | 9905 | €28,476 | €81,642 | +€53,165 | +187% |
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 23 October 2026 via checked.be.