QUAURIM: what changed
Two fiscal 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
QUAURIM
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€38,253
2024 · €39,405-€1,151
Equity
€165,976
2024 · €127,723+€38,253
Cash
€153,192
2024 · €115,465+€37,726
Balance sheet total
€208,663
2024 · €172,408+€36,255
Largest movements
Assets
- Cash +€37,726
up €37,726 (+32.7%), from €115,465 to €153,192
mainly Net result for the year (+€38,253) and Other debts (+€6,387)
- Deferred charges and accrued income +€3,502
new in 2025: €3,502
- Receivables within one year -€3,090
down €3,090 (-74.4%), from €4,152 to €1,062
of which Trade receivables: -€3,090
Equity and liabilities
- Reserves +€37,000
up €37,000 (+84.5%), from €43,779 to €80,779
of which Distributable reserves: +€37,000
- Other debts +€6,387
up €6,387 (+75.9%), from €8,420 to €14,807
- Trade debts -€5,803
down €5,803 (-69.0%), from €8,413 to €2,610
- Tax, wage and social debts -€3,824
down €3,824 (-19.4%), from €19,703 to €15,879
Income statement
- Turnover -€58,862
down €58,862 (-46.4%), from €126,879 to €68,017
- Purchases and services -€46,998
down €46,998 (-74.6%), from €62,963 to €15,965
- Gross operating margin -€3,284
down €3,284 (-5.1%), from €64,158 to €60,874
- Depreciation -€1,811
down €1,811 (-49.0%), from €3,694 to €1,883
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
€39,405
Gross operating margin
-€3,284
Depreciation
+€1,811
Other operating charges
-€1,078
Financial income
+€253
Financial charges
+€9
Taxes
+€1,138
Result 2025
€38,253
Cash bridge derived
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
+€36,626
Investment
€0
Financing
+€1,100
Cash 2024
€115,465
From operations (derived)
+€36,626
Net result for the year
+€38,253
Depreciation
+€1,883
Receivables within one year
+€3,090
Deferred charges and accrued income
-€3,502
Trade debts
-€5,803
Tax, wage and social debts
-€3,824
Other debts
+€6,387
Accrued charges and deferred income
+€142
Financing
+€1,100
Debts after one year
+€1,100
Cash 2025
€153,192
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €172,408 | €208,663 | +€36,255 | +21.0% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €52,791 | €50,908 | -€1,883 | -3.6% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €52,791 | €50,908 | -€1,883 | -3.6% |
| Land and buildings | 22 | €52,791 | €50,908 | -€1,883 | -3.6% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | - | €0 | = | |
| Leasing and similar rights | 25 | - | €0 | = | |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Assets under construction and advance payments | 27 | - | €0 | = | |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €119,617 | €157,755 | +€38,138 | +31.9% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Stocks | 30/36 | - | €0 | = | |
| Contracts in progress | 37 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €4,152 | €1,062 | -€3,090 | -74.4% |
| Trade receivables | 40 | €3,090 | €0 | -€3,090 | -100.0% |
| Other amounts receivable | 41 | €1,062 | €1,062 | = | 0.0% |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €115,465 | €153,192 | +€37,726 | +32.7% |
| Deferred charges and accrued income | 490/1 | - | €3,502 | +€3,502 | |
| Total equity and liabilities | 10/49 | €172,408 | €208,663 | +€36,255 | +21.0% |
| Equity | 10/15 | €127,723 | €165,976 | +€38,253 | +30.0% |
| Contributions | 10/11 | €34,634 | €34,634 | = | 0.0% |
| Reserves | 13 | €43,779 | €80,779 | +€37,000 | +84.5% |
| Non-distributable reserves | 130/1 | - | €0 | = | |
| Tax-exempt reserves | 132 | €4,779 | €4,779 | = | 0.0% |
| Distributable reserves | 133 | €39,000 | €76,000 | +€37,000 | +94.9% |
| Profit (loss) carried forward | 14 | €49,310 | €50,564 | +€1,253 | +2.5% |
| Provisions and deferred taxes | 16 | €1,593 | €1,593 | = | 0.0% |
| Deferred taxes | 168 | €1,593 | €1,593 | = | 0.0% |
| Amounts payable | 17/49 | €43,092 | €41,094 | -€1,998 | -4.6% |
| Amounts payable after more than one year | 17 | €6,556 | €7,656 | +€1,100 | +16.8% |
| Financial debts | 170/4 | - | €0 | = | |
| Trade debts | 175 | - | €0 | = | |
| Advances received on contracts in progress | 176 | - | €0 | = | |
| Other amounts payable | 178/9 | €6,556 | €7,656 | +€1,100 | +16.8% |
| Amounts payable within one year | 42/48 | €36,536 | €33,296 | -€3,240 | -8.9% |
| Current portion of amounts payable after more than one year | 42 | - | €0 | = | |
| Financial debts | 43 | - | €0 | = | |
| Trade debts | 44 | €8,413 | €2,610 | -€5,803 | -69.0% |
| Suppliers | 440/4 | €8,413 | €2,610 | -€5,803 | -69.0% |
| Advances received on contracts in progress | 46 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €19,703 | €15,879 | -€3,824 | -19.4% |
| Taxes | 450/3 | €19,703 | €15,879 | -€3,824 | -19.4% |
| Other amounts payable | 47/48 | €8,420 | €14,807 | +€6,387 | +75.9% |
| Accrued charges and deferred income | 492/3 | - | €142 | +€142 | |
| Turnover | 70 | €126,879 | €68,017 | -€58,862 | -46.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €62,963 | €15,965 | -€46,998 | -74.6% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,694 | €1,883 | -€1,811 | -49.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €0 | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €0 | = | |
| Other operating charges | 640/8 | €1,451 | €2,529 | +€1,078 | +74.3% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Gross operating margin | 9900 | €64,158 | €60,874 | -€3,284 | -5.1% |
| Operating profit (loss) | 9901 | €59,013 | €56,462 | -€2,552 | -4.3% |
| Financial income | 75/76B | €92 | €345 | +€253 | +273.8% |
| Recurring financial income | 75 | €92 | €345 | +€253 | +273.8% |
| Financial charges | 65/66B | €52 | €43 | -€9 | -17.6% |
| Recurring financial charges | 65 | €52 | €43 | -€9 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €59,053 | €56,764 | -€2,290 | -3.9% |
| Income taxes | 67/77 | €19,649 | €18,510 | -€1,138 | -5.8% |
| Profit (loss) for the period | 9904 | €39,405 | €38,253 | -€1,151 | -2.9% |
| Transfer from tax-exempt reserves | 789 | - | €0 | = | |
| Transfer to tax-exempt reserves | 689 | - | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | €39,405 | €38,253 | -€1,151 | -2.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.