QUENZ: 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.
QUENZ
Largest movements
- Cash +€145,315
up €145,315 (+139.1%), from €104,497 to €249,812
mainly Net result for the year (+€194,958) and Tax, wage and social debts (+€42,578)
- Deferred charges and accrued income +€30,832
up €30,832 (+1693.7%), from €1,820 to €32,652
- Tangible fixed assets +€22,083
up €22,083 (+137.5%), from €16,055 to €38,138
of which Furniture and vehicles: +€24,570
- Receivables within one year +€19,400
up €19,400 (+42.4%), from €45,738 to €65,138
of which Trade receivables: +€17,451
- Reserves +€159,383
up €159,383 (+78.8%), from €202,219 to €361,602
- Tax, wage and social debts +€42,578
up €42,578 (+185.2%), from €22,992 to €65,571
- Other debts +€26,434
up €26,434 (+263.2%), from €10,042 to €36,476
- Trade debts -€11,039
down €11,039 (-99.0%), from €11,154 to €115
- Gross operating margin +€219,555
up €219,555 (+294.7%), from €74,506 to €294,061
- Taxes +€71,481
up €71,481 (+383.8%), from €18,624 to €90,105
- Depreciation +€5,478
up €5,478 (+220.5%), from €2,484 to €7,962
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 | €265,027 | €482,657 | +€217,630 | +82.1% |
| Fixed assets | 21/28 | €16,055 | €38,138 | +€22,083 | +137.5% |
| Tangible fixed assets | 22/27 | €16,055 | €38,138 | +€22,083 | +137.5% |
| Land and buildings | 22 | €5,334 | €4,594 | -€740 | -13.9% |
| Plant, machinery and equipment | 23 | €8,691 | €6,944 | -€1,747 | -20.1% |
| Furniture and vehicles | 24 | €2,030 | €26,600 | +€24,570 | +1210.3% |
| Current assets | 29/58 | €248,972 | €444,519 | +€195,547 | +78.5% |
| Amounts receivable within one year | 40/41 | €45,738 | €65,138 | +€19,400 | +42.4% |
| Trade receivables | 40 | €45,738 | €63,190 | +€17,451 | +38.2% |
| Other amounts receivable | 41 | - | €1,949 | +€1,949 | |
| Current investments | 50/53 | €96,916 | €96,916 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €104,497 | €249,812 | +€145,315 | +139.1% |
| Deferred charges and accrued income | 490/1 | €1,820 | €32,652 | +€30,832 | +1693.7% |
| Total equity and liabilities | 10/49 | €265,027 | €482,657 | +€217,630 | +82.1% |
| Equity | 10/15 | €220,839 | €380,222 | +€159,383 | +72.2% |
| Contributions | 10/11 | €18,620 | €18,620 | = | 0.0% |
| Reserves | 13 | €202,219 | €361,602 | +€159,383 | +78.8% |
| Distributable reserves | 133 | €202,219 | €361,602 | +€159,383 | +78.8% |
| Amounts payable | 17/49 | €44,188 | €102,435 | +€58,247 | +131.8% |
| Amounts payable within one year | 42/48 | €44,188 | €102,161 | +€57,974 | +131.2% |
| Trade debts | 44 | €11,154 | €115 | -€11,039 | -99.0% |
| Suppliers | 440/4 | €11,154 | €115 | -€11,039 | -99.0% |
| Taxes, remuneration and social security | 45 | €22,992 | €65,571 | +€42,578 | +185.2% |
| Taxes | 450/3 | €22,992 | €65,571 | +€42,578 | +185.2% |
| Other amounts payable | 47/48 | €10,042 | €36,476 | +€26,434 | +263.2% |
| Accrued charges and deferred income | 492/3 | - | €273 | +€273 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,484 | €7,962 | +€5,478 | +220.5% |
| Other operating charges | 640/8 | €505 | €1,236 | +€730 | +144.6% |
| Gross operating margin | 9900 | €74,506 | €294,061 | +€219,555 | +294.7% |
| Operating profit (loss) | 9901 | €71,516 | €284,863 | +€213,347 | +298.3% |
| Financial income | 75/76B | €361 | €754 | +€393 | +109.0% |
| Recurring financial income | 75 | €361 | €754 | +€393 | +109.0% |
| Financial charges | 65/66B | €2,049 | €554 | -€1,495 | -73.0% |
| Recurring financial charges | 65 | €2,049 | €554 | -€1,495 | -73.0% |
| Profit (loss) for the period before taxes | 9903 | €69,828 | €285,064 | +€215,235 | +308.2% |
| Income taxes | 67/77 | €18,624 | €90,105 | +€71,481 | +383.8% |
| Profit (loss) for the period | 9904 | €51,204 | €194,958 | +€143,754 | +280.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,204 | €194,958 | +€143,754 | +280.7% |
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 8 October 2026 via checked.be.