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
- Current investments -€950,000
no longer reported in 2025 (was €950,000)
- Cash +€827,925
up €827,925 (+216.2%), from €382,867 to €1.2m
mainly Current investments (+€950,000) and Depreciation (+€890,952)
- Receivables within one year +€801,659
up €801,659 (+51.7%), from €1.6m to €2.4m
of which Other amounts receivable: +€648,253
- Tangible fixed assets -€746,473
down €746,473 (-13.8%), from €5.4m to €4.7m
of which Land and buildings: -€593,547
- Debts after one year -€317,211
down €317,211 (-4.5%), from €7.0m to €6.7m
- Current portion of long-term debt +€131,233
up €131,233 (+61.9%), from €211,850 to €343,083
- Gross operating margin +€135,710
up €135,710 (+8.8%), from €1.5m to €1.7m
- Depreciation +€28,219
up €28,219 (+3.3%), from €862,733 to €890,952
- Taxes +€22,687
up €22,687 (+32.8%), from €69,236 to €91,923
- Financial income -€20,966
down €20,966 (-60.3%), from €34,774 to €13,808
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 | €8,327,112 | €8,230,923 | -€96,189 | -1.2% |
| Fixed assets | 21/28 | €5,411,781 | €4,665,309 | -€746,473 | -13.8% |
| Tangible fixed assets | 22/27 | €5,411,781 | €4,665,309 | -€746,473 | -13.8% |
| Land and buildings | 22 | €5,258,855 | €4,665,309 | -€593,547 | -11.3% |
| Plant, machinery and equipment | 23 | €152,926 | - | -€152,926 | |
| Current assets | 29/58 | €2,915,331 | €3,565,614 | +€650,283 | +22.3% |
| Amounts receivable within one year | 40/41 | €1,550,183 | €2,351,842 | +€801,659 | +51.7% |
| Trade receivables | 40 | €321,241 | €474,647 | +€153,406 | +47.8% |
| Other amounts receivable | 41 | €1,228,941 | €1,877,195 | +€648,253 | +52.7% |
| Current investments | 50/53 | €950,000 | - | -€950,000 | |
| Cash at bank and in hand | 54/58 | €382,867 | €1,210,792 | +€827,925 | +216.2% |
| Deferred charges and accrued income | 490/1 | €32,280 | €2,980 | -€29,301 | -90.8% |
| Total equity and liabilities | 10/49 | €8,327,112 | €8,230,923 | -€96,189 | -1.2% |
| Equity | 10/15 | €83,686 | €83,686 | = | 0.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €22,186 | €22,186 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €16,036 | €16,036 | = | 0.0% |
| Amounts payable | 17/49 | €8,243,426 | €8,147,236 | -€96,189 | -1.2% |
| Amounts payable after more than one year | 17 | €7,004,468 | €6,687,257 | -€317,211 | -4.5% |
| Financial debts | 170/4 | €7,004,468 | €6,687,257 | -€317,211 | -4.5% |
| Amounts payable within one year | 42/48 | €692,211 | €899,064 | +€206,853 | +29.9% |
| Current portion of amounts payable after more than one year | 42 | €211,850 | €343,083 | +€131,233 | +61.9% |
| Trade debts | 44 | €207,788 | €221,598 | +€13,809 | +6.6% |
| Suppliers | 440/4 | €207,788 | €221,598 | +€13,809 | +6.6% |
| Taxes, remuneration and social security | 45 | €64,929 | €58,712 | -€6,217 | -9.6% |
| Taxes | 450/3 | €64,929 | €58,712 | -€6,217 | -9.6% |
| Other amounts payable | 47/48 | €207,644 | €275,672 | +€68,028 | +32.8% |
| Accrued charges and deferred income | 492/3 | €546,747 | €560,915 | +€14,168 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €862,733 | €890,952 | +€28,219 | +3.3% |
| Other operating charges | 640/8 | €158,864 | €157,370 | -€1,494 | -0.9% |
| Gross operating margin | 9900 | €1,549,698 | €1,685,408 | +€135,710 | +8.8% |
| Operating profit (loss) | 9901 | €528,101 | €637,087 | +€108,986 | +20.6% |
| Financial income | 75/76B | €34,774 | €13,808 | -€20,966 | -60.3% |
| Recurring financial income | 75 | €34,774 | €13,808 | -€20,966 | -60.3% |
| Financial charges | 65/66B | €285,995 | €283,300 | -€2,695 | -0.9% |
| Recurring financial charges | 65 | €285,995 | €283,300 | -€2,695 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €276,880 | €367,595 | +€90,715 | +32.8% |
| Income taxes | 67/77 | €69,236 | €91,923 | +€22,687 | +32.8% |
| Profit (loss) for the period | 9904 | €207,644 | €275,672 | +€68,028 | +32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €207,644 | €275,672 | +€68,028 | +32.8% |
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 5 October 2026 via checked.be.