Quercum-Carpinus: 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.
Quercum-Carpinus
Largest movements
- Stocks and contracts +€157,485
up €157,485 (+78.5%), from €200,613 to €358,098
- Cash -€52,286
down €52,286 (-26.4%), from €198,354 to €146,068
mainly Stocks and contracts (-€157,485) and Trade debts (-€42,392)
- Receivables within one year -€5,797
down €5,797 (-14.0%), from €41,308 to €35,511
of which Other amounts receivable: -€6,344
- Reserves +€104,043
up €104,043 (+31.8%), from €326,997 to €431,040
- Trade debts -€42,392
down €42,392 (-43.3%), from €97,966 to €55,574
- Tax, wage and social debts +€33,381
up €33,381 (+325%), from €10,278 to €43,660
- Gross operating margin +€28,645
up €28,645 (+22.6%), from €126,507 to €155,152
- Taxes +€13,601
up €13,601 (+38.5%), from €35,348 to €48,948
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 | €445,646 | €542,912 | +€97,265 | +21.8% |
| Fixed assets | 21/28 | €4,274 | €2,589 | -€1,685 | -39.4% |
| Tangible fixed assets | 22/27 | €4,274 | €2,589 | -€1,685 | -39.4% |
| Furniture and vehicles | 24 | €4,274 | €2,589 | -€1,685 | -39.4% |
| Current assets | 29/58 | €441,372 | €540,323 | +€98,950 | +22.4% |
| Stocks and contracts in progress | 3 | €200,613 | €358,098 | +€157,485 | +78.5% |
| Stocks | 30/36 | €200,613 | €358,098 | +€157,485 | +78.5% |
| Amounts receivable within one year | 40/41 | €41,308 | €35,511 | -€5,797 | -14.0% |
| Trade receivables | 40 | €4,304 | €4,851 | +€547 | +12.7% |
| Other amounts receivable | 41 | €37,004 | €30,659 | -€6,344 | -17.1% |
| Cash at bank and in hand | 54/58 | €198,354 | €146,068 | -€52,286 | -26.4% |
| Deferred charges and accrued income | 490/1 | €1,097 | €646 | -€452 | -41.2% |
| Total equity and liabilities | 10/49 | €445,646 | €542,912 | +€97,265 | +21.8% |
| Equity | 10/15 | €331,997 | €436,040 | +€104,043 | +31.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €326,997 | €431,040 | +€104,043 | +31.8% |
| Distributable reserves | 133 | €326,997 | €431,040 | +€104,043 | +31.8% |
| Amounts payable | 17/49 | €113,649 | €106,872 | -€6,778 | -6.0% |
| Amounts payable within one year | 42/48 | €113,649 | €106,734 | -€6,915 | -6.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €97,966 | €55,574 | -€42,392 | -43.3% |
| Suppliers | 440/4 | €97,966 | €55,574 | -€42,392 | -43.3% |
| Taxes, remuneration and social security | 45 | €10,278 | €43,660 | +€33,381 | +325% |
| Taxes | 450/3 | €10,278 | €43,660 | +€33,381 | +325% |
| Other amounts payable | 47/48 | €5,405 | €7,501 | +€2,096 | +38.8% |
| Accrued charges and deferred income | 492/3 | €0 | €137 | +€137 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,271 | €1,685 | +€414 | +32.6% |
| Other operating charges | 640/8 | €1,004 | €610 | -€394 | -39.2% |
| Gross operating margin | 9900 | €126,507 | €155,152 | +€28,645 | +22.6% |
| Operating profit (loss) | 9901 | €124,232 | €152,857 | +€28,625 | +23.0% |
| Financial income | 75/76B | €1,670 | €267 | -€1,403 | -84.0% |
| Recurring financial income | 75 | €1,670 | €267 | -€1,403 | -84.0% |
| Financial charges | 65/66B | €1,563 | €133 | -€1,430 | -91.5% |
| Recurring financial charges | 65 | €1,563 | €133 | -€1,430 | -91.5% |
| Profit (loss) for the period before taxes | 9903 | €124,340 | €152,991 | +€28,652 | +23.0% |
| Income taxes | 67/77 | €35,348 | €48,948 | +€13,601 | +38.5% |
| Profit (loss) for the period | 9904 | €88,992 | €104,043 | +€15,051 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €88,992 | €104,043 | +€15,051 | +16.9% |
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 18 October 2026 via checked.be.