Quercus Management & Services: 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.
What changed
Quercus Management & Services
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€49,460
2024 · €39,988+€9,472
Equity
€691,224
2024 · €641,764+€49,460
Cash
€1,772
2024 · €1,272+€500
Balance sheet total
€1.2m
2024 · €1.2m-€21,697
Largest movements
Assets
- Tangible fixed assets -€17,737
down €17,737 (-2.4%), from €741,344 to €723,607
of which Land and buildings: -€15,235
Equity and liabilities
- Debts after one year -€64,398
down €64,398 (-14.4%), from €446,513 to €382,115
- Profit (loss) carried forward +€49,460
up €49,460 (+75.0%), from €65,937 to €115,397
- Tax, wage and social debts -€13,102
down €13,102 (-41.2%), from €31,790 to €18,688
Income statement
- Gross operating margin +€20,798
up €20,798 (+16.7%), from €124,541 to €145,339
- Other operating charges +€8,186
up €8,186 (+59.2%), from €13,833 to €22,019
- Taxes +€4,481
up €4,481 (+33.1%), from €13,524 to €18,005
- Write-downs -€3,897
down €3,897 (-40.4%), from €9,641 to €5,744
- Financial income -€2,092
down €2,092 (-84.5%), from €2,475 to €383
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.
Result 2024
€39,988
Gross operating margin
+€20,798
Depreciation
-€1,493
Write-downs
+€3,897
Other operating charges
-€8,186
Financial income
-€2,092
Financial charges
+€1,030
Taxes
-€4,481
Result 2025
€49,460
raises the resultlowers the result
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.
From operations
+€63,103
Investment
-€3,918
Financing
-€58,685
Cash 2024
€1,272
From operations (derived)
+€63,103
Net result for the year
+€49,460
Depreciation
+€17,737
Receivables after one year
-€373
Receivables within one year
+€7,928
Deferred charges and accrued income
+€824
Trade debts
-€7,080
Tax, wage and social debts
-€13,102
Other debts
-€8
Accrued charges and deferred income
+€7,718
Investment (derived)
-€3,918
Investment in fixed assets (net)
-€3,918
Financing
-€58,685
Debts after one year
-€64,398
Current portion of long-term debt
+€5,713
Cash 2025
€1,772
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,226,688 | €1,204,991 | -€21,697 | -1.8% |
| Fixed assets | 21/28 | €1,189,863 | €1,176,044 | -€13,819 | -1.2% |
| Tangible fixed assets | 22/27 | €741,344 | €723,607 | -€17,737 | -2.4% |
| Land and buildings | 22 | €732,476 | €717,242 | -€15,235 | -2.1% |
| Plant, machinery and equipment | 23 | €5,272 | €3,698 | -€1,575 | -29.9% |
| Furniture and vehicles | 24 | €3,595 | €2,668 | -€928 | -25.8% |
| Financial fixed assets | 28 | €448,519 | €452,437 | +€3,918 | +0.9% |
| Current assets | 29/58 | €36,825 | €28,947 | -€7,878 | -21.4% |
| Amounts receivable after more than one year | 29 | €11,290 | €11,663 | +€373 | +3.3% |
| Other amounts receivable | 291 | €11,290 | €11,663 | +€373 | +3.3% |
| Amounts receivable within one year | 40/41 | €20,767 | €12,840 | -€7,928 | -38.2% |
| Trade receivables | 40 | €20,553 | €12,726 | -€7,827 | -38.1% |
| Other amounts receivable | 41 | €214 | €113 | -€101 | -47.1% |
| Cash at bank and in hand | 54/58 | €1,272 | €1,772 | +€500 | +39.3% |
| Deferred charges and accrued income | 490/1 | €3,496 | €2,672 | -€824 | -23.6% |
| Total equity and liabilities | 10/49 | €1,226,688 | €1,204,991 | -€21,697 | -1.8% |
| Equity | 10/15 | €641,764 | €691,224 | +€49,460 | +7.7% |
| Contributions | 10/11 | €562,480 | €562,480 | = | 0.0% |
| Reserves | 13 | €13,348 | €13,348 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,100 | €13,100 | = | 0.0% |
| Other | 1319 | €13,100 | €13,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €248 | €248 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,937 | €115,397 | +€49,460 | +75.0% |
| Amounts payable | 17/49 | €584,924 | €513,767 | -€71,157 | -12.2% |
| Amounts payable after more than one year | 17 | €446,513 | €382,115 | -€64,398 | -14.4% |
| Financial debts | 170/4 | €446,513 | €382,115 | -€64,398 | -14.4% |
| Amounts payable within one year | 42/48 | €136,689 | €122,211 | -€14,477 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €89,085 | €94,798 | +€5,713 | +6.4% |
| Trade debts | 44 | €15,805 | €8,726 | -€7,080 | -44.8% |
| Suppliers | 440/4 | €15,805 | €8,726 | -€7,080 | -44.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €31,790 | €18,688 | -€13,102 | -41.2% |
| Taxes | 450/3 | €31,790 | €18,688 | -€13,102 | -41.2% |
| Other amounts payable | 47/48 | €8 | €0 | -€8 | -100% |
| Accrued charges and deferred income | 492/3 | €1,722 | €9,440 | +€7,718 | +448% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,244 | €17,737 | +€1,493 | +9.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,641 | €5,744 | -€3,897 | -40.4% |
| Other operating charges | 640/8 | €13,833 | €22,019 | +€8,186 | +59.2% |
| Gross operating margin | 9900 | €124,541 | €145,339 | +€20,798 | +16.7% |
| Operating profit (loss) | 9901 | €84,824 | €99,840 | +€15,015 | +17.7% |
| Financial income | 75/76B | €2,475 | €383 | -€2,092 | -84.5% |
| Recurring financial income | 75 | €2,475 | €383 | -€2,092 | -84.5% |
| Financial charges | 65/66B | €33,788 | €32,758 | -€1,030 | -3.0% |
| Recurring financial charges | 65 | €33,788 | €32,758 | -€1,030 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €53,512 | €67,464 | +€13,953 | +26.1% |
| Income taxes | 67/77 | €13,524 | €18,005 | +€4,481 | +33.1% |
| Profit (loss) for the period | 9904 | €39,988 | €49,460 | +€9,472 | +23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,988 | €49,460 | +€9,472 | +23.7% |
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 22 October 2026 via checked.be.