QUAVAN: 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.
QUAVAN
Largest movements
- Receivables within one year -€50,877
down €50,877 (-79.3%), from €64,164 to €13,287
of which Trade receivables: -€56,983
- Tangible fixed assets +€25,539
up €25,539 (+18.5%), from €138,162 to €163,701
of which Furniture and vehicles: +€27,379
- Cash +€21,432
up €21,432 (+106.7%), from €20,078 to €41,510
mainly Receivables within one year (+€50,877) and Net result for the year (+€25,608)
- Trade debts -€23,653
down €23,653 (-88.3%), from €26,778 to €3,125
- Debts after one year +€22,460
up €22,460 (+46.3%), from €48,549 to €71,009
- Tax, wage and social debts -€9,234
down €9,234 (-71.2%), from €12,961 to €3,727
- Reserves +€5,608
up €5,608 (+4.4%), from €128,269 to €133,877
- Taxes -€3,755
down €3,755 (-30.7%), from €12,215 to €8,460
- Depreciation +€3,217
up €3,217 (+16.6%), from €19,382 to €22,599
- Other operating charges +€1,237
up €1,237 (+84.5%), from €1,464 to €2,701
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €224,816 | €220,701 | -€4,115 | -1.8% |
| Fixed assets | 21/28 | €138,162 | €163,701 | +€25,539 | +18.5% |
| Tangible fixed assets | 22/27 | €138,162 | €163,701 | +€25,539 | +18.5% |
| Land and buildings | 22 | €94,280 | €98,689 | +€4,409 | +4.7% |
| Plant, machinery and equipment | 23 | €14,518 | €8,270 | -€6,248 | -43.0% |
| Furniture and vehicles | 24 | €29,364 | €56,743 | +€27,379 | +93.2% |
| Current assets | 29/58 | €86,654 | €57,000 | -€29,654 | -34.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €64,164 | €13,287 | -€50,877 | -79.3% |
| Trade receivables | 40 | €63,906 | €6,923 | -€56,983 | -89.2% |
| Other amounts receivable | 41 | €258 | €6,364 | +€6,106 | +2366.7% |
| Cash at bank and in hand | 54/58 | €20,078 | €41,510 | +€21,432 | +106.7% |
| Deferred charges and accrued income | 490/1 | €2,413 | €2,203 | -€209 | -8.7% |
| Total equity and liabilities | 10/49 | €224,816 | €220,701 | -€4,115 | -1.8% |
| Equity | 10/15 | €128,271 | €133,879 | +€5,608 | +4.4% |
| Reserves | 13 | €128,269 | €133,877 | +€5,608 | +4.4% |
| Distributable reserves | 133 | €128,269 | €133,877 | +€5,608 | +4.4% |
| Profit (loss) carried forward | 14 | €2 | €2 | = | 0.0% |
| Amounts payable | 17/49 | €96,545 | €86,822 | -€9,723 | -10.1% |
| Amounts payable after more than one year | 17 | €48,549 | €71,009 | +€22,460 | +46.3% |
| Financial debts | 170/4 | €48,549 | €71,009 | +€22,460 | +46.3% |
| Amounts payable within one year | 42/48 | €47,996 | €15,813 | -€32,183 | -67.1% |
| Current portion of amounts payable after more than one year | 42 | €7,416 | €7,540 | +€124 | +1.7% |
| Trade debts | 44 | €26,778 | €3,125 | -€23,653 | -88.3% |
| Suppliers | 440/4 | €26,778 | €3,125 | -€23,653 | -88.3% |
| Taxes, remuneration and social security | 45 | €12,961 | €3,727 | -€9,234 | -71.2% |
| Taxes | 450/3 | €12,961 | €3,727 | -€9,234 | -71.2% |
| Other amounts payable | 47/48 | €841 | €1,421 | +€580 | +69.0% |
| Non-recurring operating income | 76A | €9,756 | €0 | -€9,756 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,382 | €22,599 | +€3,217 | +16.6% |
| Other operating charges | 640/8 | €1,464 | €2,701 | +€1,237 | +84.5% |
| Non-recurring operating charges | 66A | €310 | €250 | -€60 | -19.2% |
| Gross operating margin | 9900 | €60,787 | €60,875 | +€89 | +0.1% |
| Operating profit (loss) | 9901 | €39,631 | €35,325 | -€4,306 | -10.9% |
| Financial income | 75/76B | €36 | €0 | -€36 | -100.0% |
| Recurring financial income | 75 | €36 | €0 | -€36 | -100.0% |
| Financial charges | 65/66B | €1,230 | €1,257 | +€27 | +2.2% |
| Recurring financial charges | 65 | €1,230 | €1,257 | +€27 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €38,437 | €34,068 | -€4,369 | -11.4% |
| Income taxes | 67/77 | €12,215 | €8,460 | -€3,755 | -30.7% |
| Profit (loss) for the period | 9904 | €26,222 | €25,608 | -€614 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €26,222 | €25,608 | -€614 | -2.3% |
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.