QuaZar: 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.
QuaZar
Largest movements
- Financial fixed assets +€46,589
up €46,589 (+84.3%), from €55,250 to €101,839
- Cash -€44,057
down €44,057 (-24.2%), from €182,412 to €138,354
mainly Contributions, distributions and other (-€175,897) and Investment in fixed assets (net) (-€61,759)
- Receivables within one year -€19,260
down €19,260 (-48.6%), from €39,633 to €20,373
of which Trade receivables: -€15,800
- Tangible fixed assets +€9,901
up €9,901 (+90.2%), from €10,973 to €20,874
of which Other tangible fixed assets: +€10,990
- Deferred charges and accrued income -€4,553
down €4,553 (-79.8%), from €5,706 to €1,153
- Other debts +€87,519
up €87,519 (+68.6%), from €127,500 to €215,019
- Reserves -€84,969
down €84,969 (-100%), from €84,969 to €0
- Trade debts -€20,693
down €20,693 (-87.0%), from €23,799 to €3,106
of which Bills of exchange payable: -€18,495
- Tax, wage and social debts +€14,092
up €14,092 (+44.3%), from €31,776 to €45,868
- Accrued charges and deferred income -€7,330
down €7,330 (-100%), from €7,330 to €0
- Financial income +€15,941
up €15,941 (+66.2%), from €24,062 to €40,003
- Taxes +€9,277
up €9,277 (+39.9%), from €23,267 to €32,544
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 | €293,974 | €282,593 | -€11,381 | -3.9% |
| Fixed assets | 21/28 | €66,223 | €122,713 | +€56,489 | +85.3% |
| Tangible fixed assets | 22/27 | €10,973 | €20,874 | +€9,901 | +90.2% |
| Furniture and vehicles | 24 | €2,705 | €1,615 | -€1,090 | -40.3% |
| Other tangible fixed assets | 26 | €8,268 | €19,259 | +€10,990 | +133% |
| Financial fixed assets | 28 | €55,250 | €101,839 | +€46,589 | +84.3% |
| Current assets | 29/58 | €227,751 | €159,881 | -€67,870 | -29.8% |
| Amounts receivable within one year | 40/41 | €39,633 | €20,373 | -€19,260 | -48.6% |
| Trade receivables | 40 | €36,173 | €20,373 | -€15,800 | -43.7% |
| Other amounts receivable | 41 | €3,460 | €0 | -€3,460 | -100% |
| Cash at bank and in hand | 54/58 | €182,412 | €138,354 | -€44,057 | -24.2% |
| Deferred charges and accrued income | 490/1 | €5,706 | €1,153 | -€4,553 | -79.8% |
| Total equity and liabilities | 10/49 | €293,974 | €282,593 | -€11,381 | -3.9% |
| Equity | 10/15 | €103,569 | €18,600 | -€84,969 | -82.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €84,969 | €0 | -€84,969 | -100% |
| Distributable reserves | 133 | €84,969 | €0 | -€84,969 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €190,405 | €263,993 | +€73,588 | +38.6% |
| Amounts payable within one year | 42/48 | €183,075 | €263,993 | +€80,918 | +44.2% |
| Trade debts | 44 | €23,799 | €3,106 | -€20,693 | -87.0% |
| Suppliers | 440/4 | €5,304 | €3,106 | -€2,198 | -41.4% |
| Bills of exchange payable | 441 | €18,495 | - | -€18,495 | |
| Taxes, remuneration and social security | 45 | €31,776 | €45,868 | +€14,092 | +44.3% |
| Taxes | 450/3 | €31,776 | €45,868 | +€14,092 | +44.3% |
| Other amounts payable | 47/48 | €127,500 | €215,019 | +€87,519 | +68.6% |
| Accrued charges and deferred income | 492/3 | €7,330 | €0 | -€7,330 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,573 | €5,270 | -€303 | -5.4% |
| Other operating charges | 640/8 | €633 | €643 | +€10 | +1.6% |
| Gross operating margin | 9900 | €90,101 | €89,634 | -€467 | -0.5% |
| Operating profit (loss) | 9901 | €83,895 | €83,721 | -€174 | -0.2% |
| Financial income | 75/76B | €24,062 | €40,003 | +€15,941 | +66.2% |
| Recurring financial income | 75 | €24,062 | €40,003 | +€15,941 | +66.2% |
| Financial charges | 65/66B | €210 | €251 | +€41 | +19.5% |
| Recurring financial charges | 65 | €210 | €251 | +€41 | +19.5% |
| Profit (loss) for the period before taxes | 9903 | €107,747 | €123,473 | +€15,726 | +14.6% |
| Income taxes | 67/77 | €23,267 | €32,544 | +€9,277 | +39.9% |
| Profit (loss) for the period | 9904 | €84,479 | €90,928 | +€6,449 | +7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €84,479 | €90,928 | +€6,449 | +7.6% |
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 15 October 2026 via checked.be.