QUERCOS: 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.
QUERCOS
Largest movements
- Receivables within one year -€31,030
down €31,030 (-97.1%), from €31,944 to €914
of which Trade receivables: -€31,944
- Cash -€18,418
down €18,418 (-14.3%), from €129,086 to €110,668
mainly Other debts (-€24,135) and Net result for the year (-€18,505)
- Other debts -€24,135
down €24,135 (-86.9%), from €27,767 to €3,632
- Profit (loss) carried forward -€18,505
down €18,505 (-32.7%), from -€56,532 to -€75,037
- Tax, wage and social debts -€7,082
down €7,082 (-100.0%), from €7,082 to €0
- Gross operating margin -€89,493
down €89,493, from €72,951 to -€16,542
- Other operating charges -€1,746
down €1,746 (-90.0%), from €1,941 to €195
- Financial charges -€788
down €788 (-76.8%), from €1,025 to €238
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 | €178,867 | €129,582 | -€49,285 | -27.6% |
| Fixed assets | 21/28 | €2,154 | €2,215 | +€61 | +2.8% |
| Tangible fixed assets | 22/27 | €2,154 | €2,215 | +€61 | +2.8% |
| Furniture and vehicles | 24 | €1,143 | €1,394 | +€251 | +21.9% |
| Other tangible fixed assets | 26 | €1,011 | €821 | -€190 | -18.8% |
| Current assets | 29/58 | €176,713 | €127,367 | -€49,346 | -27.9% |
| Amounts receivable within one year | 40/41 | €31,944 | €914 | -€31,030 | -97.1% |
| Trade receivables | 40 | €31,944 | €0 | -€31,944 | -100.0% |
| Other amounts receivable | 41 | - | €914 | +€914 | |
| Current investments | 50/53 | €15,234 | €15,234 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €129,086 | €110,668 | -€18,418 | -14.3% |
| Deferred charges and accrued income | 490/1 | €450 | €552 | +€103 | +22.8% |
| Total equity and liabilities | 10/49 | €178,867 | €129,582 | -€49,285 | -27.6% |
| Equity | 10/15 | €143,782 | €125,277 | -€18,505 | -12.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €181,714 | €181,714 | = | 0.0% |
| Distributable reserves | 133 | €181,714 | €181,714 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,532 | -€75,037 | -€18,505 | -32.7% |
| Amounts payable | 17/49 | €35,085 | €4,305 | -€30,780 | -87.7% |
| Amounts payable within one year | 42/48 | €35,085 | €4,305 | -€30,780 | -87.7% |
| Trade debts | 44 | €236 | €673 | +€437 | +184.8% |
| Suppliers | 440/4 | €236 | €673 | +€437 | +184.8% |
| Taxes, remuneration and social security | 45 | €7,082 | €0 | -€7,082 | -100.0% |
| Taxes | 450/3 | €7,082 | €0 | -€7,082 | -100.0% |
| Other amounts payable | 47/48 | €27,767 | €3,632 | -€24,135 | -86.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,721 | €1,530 | -€191 | -11.1% |
| Other operating charges | 640/8 | €1,941 | €195 | -€1,746 | -90.0% |
| Gross operating margin | 9900 | €72,951 | -€16,542 | -€89,493 | |
| Operating profit (loss) | 9901 | €69,289 | -€18,267 | -€87,556 | |
| Financial income | 75/76B | €77 | €0 | -€77 | -100.0% |
| Recurring financial income | 75 | €77 | €0 | -€77 | -100.0% |
| Financial charges | 65/66B | €1,025 | €238 | -€788 | -76.8% |
| Recurring financial charges | 65 | €1,025 | €238 | -€788 | -76.8% |
| Profit (loss) for the period before taxes | 9903 | €68,341 | -€18,505 | -€86,846 | |
| Income taxes | 67/77 | €426 | €0 | -€426 | -100.0% |
| Profit (loss) for the period | 9904 | €67,915 | -€18,505 | -€86,420 | |
| Profit (loss) for the period to be appropriated | 9905 | €67,915 | -€18,505 | -€86,420 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.