QUERCUS: 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.
QUERCUS
Largest movements
- Tangible fixed assets +€2.0m
up €2.0m (+23.8%), from €8.2m to €10.2m
of which Land and buildings: +€1.2m
- Cash +€139,841
up €139,841 (+925.4%), from €15,111 to €154,952
mainly Other debts (+€2.2m) and Depreciation (+€189,234)
- Other debts +€2.2m
up €2.2m (+25.6%), from €8.8m to €11.0m
- Profit (loss) carried forward -€178,092
down €178,092 (-32.1%), from -€554,812 to -€732,904
- Gross operating margin +€88,359
up €88,359 (+391.5%), from €22,571 to €110,930
- Depreciation +€52,691
up €52,691 (+38.6%), from €136,543 to €189,234
- Other operating charges +€26,565
up €26,565 (+257.5%), from €10,316 to €36,882
- Financial charges +€22,865
up €22,865 (+56.9%), from €40,184 to €63,049
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,265,018 | €10,354,157 | +€2.1m | +25.3% |
| Fixed assets | 21/28 | €8,197,569 | €10,150,502 | +€2.0m | +23.8% |
| Tangible fixed assets | 22/27 | €8,197,269 | €10,150,202 | +€2.0m | +23.8% |
| Land and buildings | 22 | €6,805,409 | €8,043,189 | +€1.2m | +18.2% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €1,391,860 | €2,107,013 | +€715,153 | +51.4% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €67,449 | €203,655 | +€136,206 | +201.9% |
| Amounts receivable within one year | 40/41 | €50,821 | €48,703 | -€2,119 | -4.2% |
| Trade receivables | 40 | €6,763 | €21,363 | +€14,600 | +215.9% |
| Other amounts receivable | 41 | €44,058 | €27,339 | -€16,719 | -37.9% |
| Cash at bank and in hand | 54/58 | €15,111 | €154,952 | +€139,841 | +925.4% |
| Deferred charges and accrued income | 490/1 | €1,517 | €0 | -€1,517 | -100.0% |
| Total equity and liabilities | 10/49 | €8,265,018 | €10,354,157 | +€2.1m | +25.3% |
| Equity | 10/15 | -€524,812 | -€702,904 | -€178,092 | -33.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€554,812 | -€732,904 | -€178,092 | -32.1% |
| Amounts payable | 17/49 | €8,789,830 | €11,057,061 | +€2.3m | +25.8% |
| Amounts payable within one year | 42/48 | €8,789,080 | €11,053,304 | +€2.3m | +25.8% |
| Trade debts | 44 | €9,932 | €30,388 | +€20,456 | +206.0% |
| Suppliers | 440/4 | €9,932 | €30,388 | +€20,456 | +206.0% |
| Taxes, remuneration and social security | 45 | €98 | €0 | -€98 | -100.0% |
| Taxes | 450/3 | €98 | €0 | -€98 | -100.0% |
| Other amounts payable | 47/48 | €8,779,050 | €11,022,915 | +€2.2m | +25.6% |
| Accrued charges and deferred income | 492/3 | €750 | €3,757 | +€3,007 | +401.0% |
| Non-recurring operating income | 76A | - | €32,202 | +€32,202 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,543 | €189,234 | +€52,691 | +38.6% |
| Other operating charges | 640/8 | €10,316 | €36,882 | +€26,565 | +257.5% |
| Gross operating margin | 9900 | €22,571 | €110,930 | +€88,359 | +391.5% |
| Operating profit (loss) | 9901 | -€124,289 | -€115,186 | +€9,102 | +7.3% |
| Financial income | 75/76B | €519 | €143 | -€376 | -72.4% |
| Recurring financial income | 75 | €519 | €143 | -€376 | -72.4% |
| Financial charges | 65/66B | €40,184 | €63,049 | +€22,865 | +56.9% |
| Recurring financial charges | 65 | €40,184 | €63,049 | +€22,865 | +56.9% |
| Profit (loss) for the period before taxes | 9903 | -€163,953 | -€178,092 | -€14,139 | -8.6% |
| Profit (loss) for the period | 9904 | -€163,953 | -€178,092 | -€14,139 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€163,953 | -€178,092 | -€14,139 | -8.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.