QUERCESTA: 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.
QUERCESTA
Largest movements
- Current investments -€118,537
down €118,537 (-51.5%), from €230,287 to €111,750
- Receivables within one year +€83,620
up €83,620 (+45.3%), from €184,597 to €268,217
of which Other amounts receivable: +€105,808
- Tangible fixed assets +€52,606
up €52,606 (+212%), from €24,813 to €77,419
- Trade debts +€73,601
up €73,601 (+98.5%), from €74,694 to €148,294
- Reserves -€53,712
down €53,712 (-1.9%), from €2.8m to €2.8m
of which Distributable reserves: -€53,712
- Gross operating margin +€24,114
up €24,114 (+13.9%), from €173,722 to €197,836
- Financial income -€23,281
down €23,281 (-18.6%), from €125,372 to €102,090
- Staff costs +€7,932
up €7,932 (+3.5%), from €227,502 to €235,433
- Depreciation +€5,459
up €5,459 (+73.3%), from €7,444 to €12,903
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 | €3,691,033 | €3,701,453 | +€10,420 | +0.3% |
| Fixed assets | 21/28 | €3,254,013 | €3,306,619 | +€52,606 | +1.6% |
| Tangible fixed assets | 22/27 | €24,813 | €77,419 | +€52,606 | +212% |
| Furniture and vehicles | 24 | €24,813 | €77,419 | +€52,606 | +212% |
| Financial fixed assets | 28 | €3,229,200 | €3,229,200 | = | 0.0% |
| Current assets | 29/58 | €437,020 | €394,834 | -€42,186 | -9.7% |
| Amounts receivable within one year | 40/41 | €184,597 | €268,217 | +€83,620 | +45.3% |
| Trade receivables | 40 | €182,938 | €160,750 | -€22,188 | -12.1% |
| Other amounts receivable | 41 | €1,659 | €107,467 | +€105,808 | +6,378% |
| Current investments | 50/53 | €230,287 | €111,750 | -€118,537 | -51.5% |
| Cash at bank and in hand | 54/58 | €19,850 | €12,580 | -€7,270 | -36.6% |
| Deferred charges and accrued income | 490/1 | €2,287 | €2,287 | = | 0.0% |
| Total equity and liabilities | 10/49 | €3,691,033 | €3,701,453 | +€10,420 | +0.3% |
| Equity | 10/15 | €3,477,423 | €3,423,711 | -€53,712 | -1.5% |
| Contributions | 10/11 | €665,100 | €665,100 | = | 0.0% |
| Capital | 10 | €665,100 | €665,100 | = | 0.0% |
| Issued capital | 100 | €665,100 | €665,100 | = | 0.0% |
| Reserves | 13 | €2,812,323 | €2,758,611 | -€53,712 | -1.9% |
| Non-distributable reserves | 130/1 | €66,510 | €66,510 | = | 0.0% |
| Legal reserve | 130 | €66,510 | €66,510 | = | 0.0% |
| Distributable reserves | 133 | €2,745,813 | €2,692,101 | -€53,712 | -2.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €213,610 | €277,742 | +€64,132 | +30.0% |
| Amounts payable within one year | 42/48 | €213,610 | €277,742 | +€64,132 | +30.0% |
| Trade debts | 44 | €74,694 | €148,294 | +€73,601 | +98.5% |
| Suppliers | 440/4 | €74,694 | €148,294 | +€73,601 | +98.5% |
| Taxes, remuneration and social security | 45 | €36,542 | €26,598 | -€9,944 | -27.2% |
| Taxes | 450/3 | €12,103 | €8,013 | -€4,090 | -33.8% |
| Remuneration and social security | 454/9 | €24,439 | €18,585 | -€5,854 | -24.0% |
| Other amounts payable | 47/48 | €102,375 | €102,850 | +€475 | +0.5% |
| Non-recurring operating income | 76A | €0 | €11,000 | +€11,000 | |
| Remuneration, social security and pensions | 62 | €227,502 | €235,433 | +€7,932 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,444 | €12,903 | +€5,459 | +73.3% |
| Other operating charges | 640/8 | €1,900 | €1,273 | -€628 | -33.0% |
| Gross operating margin | 9900 | €173,722 | €197,836 | +€24,114 | +13.9% |
| Operating profit (loss) | 9901 | -€63,124 | -€51,773 | +€11,351 | +18.0% |
| Financial income | 75/76B | €125,372 | €102,090 | -€23,281 | -18.6% |
| Recurring financial income | 75 | €125,372 | €102,090 | -€23,281 | -18.6% |
| Financial charges | 65/66B | €129 | €132 | +€3 | +2.3% |
| Recurring financial charges | 65 | €129 | €132 | +€3 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €62,118 | €50,185 | -€11,933 | -19.2% |
| Income taxes | 67/77 | €461 | €1,047 | +€586 | +127% |
| Profit (loss) for the period | 9904 | €61,658 | €49,138 | -€12,519 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €61,658 | €49,138 | -€12,519 | -20.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.