QUERCUS VERDE: 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.
QUERCUS VERDE
Largest movements
- Stocks and contracts -€38,177
down €38,177 (-63.8%), from €59,831 to €21,654
- Receivables within one year +€2,596
up €2,596 (+65.3%), from €3,974 to €6,570
of which Trade receivables: +€1,922
- Cash +€1,199
up €1,199 (+107%), from €1,122 to €2,321
mainly Stocks and contracts (+€38,177) and Depreciation (+€4,487)
- Profit (loss) carried forward -€21,422
down €21,422 (-49.1%), from -€43,672 to -€65,094
- Debts after one year -€9,000
down €9,000 (-11.4%), from €79,000 to €70,000
- Short-term financial debts -€5,196
no longer reported in 2025 (was €5,196)
- Trade debts +€2,557
up €2,557 (+189%), from €1,353 to €3,910
- Tax, wage and social debts -€1,472
down €1,472 (-40.3%), from €3,654 to €2,182
- Gross operating margin -€34,506
down €34,506, from €20,218 to -€14,288
- Write-downs -€14,958
no longer reported in 2025 (was €14,958)
- Taxes -€5,118
down €5,118 (-94.8%), from €5,402 to €284
- Other operating charges +€517
up €517 (+50.5%), from €1,023 to €1,540
- Financial income -€488
down €488 (-100.0%), from €488 to €0
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 | €73,690 | €39,083 | -€34,607 | -47.0% |
| Fixed assets | 21/28 | €8,762 | €8,154 | -€608 | -6.9% |
| Tangible fixed assets | 22/27 | €8,762 | €8,154 | -€608 | -6.9% |
| Land and buildings | 22 | - | €4,635 | +€4,635 | |
| Plant, machinery and equipment | 23 | €8,762 | €1,954 | -€6,809 | -77.7% |
| Furniture and vehicles | 24 | - | €1,566 | +€1,566 | |
| Current assets | 29/58 | €64,928 | €30,929 | -€33,999 | -52.4% |
| Stocks and contracts in progress | 3 | €59,831 | €21,654 | -€38,177 | -63.8% |
| Stocks | 30/36 | €59,831 | €21,654 | -€38,177 | -63.8% |
| Amounts receivable within one year | 40/41 | €3,974 | €6,570 | +€2,596 | +65.3% |
| Trade receivables | 40 | €3,974 | €5,896 | +€1,922 | +48.4% |
| Other amounts receivable | 41 | - | €674 | +€674 | |
| Cash at bank and in hand | 54/58 | €1,122 | €2,321 | +€1,199 | +107% |
| Deferred charges and accrued income | 490/1 | - | €383 | +€383 | |
| Total equity and liabilities | 10/49 | €73,690 | €39,083 | -€34,607 | -47.0% |
| Equity | 10/15 | -€15,981 | -€37,403 | -€21,422 | -134% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €21,491 | €21,491 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €11,631 | €11,631 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,672 | -€65,094 | -€21,422 | -49.1% |
| Amounts payable | 17/49 | €89,671 | €76,486 | -€13,185 | -14.7% |
| Amounts payable after more than one year | 17 | €79,000 | €70,000 | -€9,000 | -11.4% |
| Other amounts payable | 178/9 | €79,000 | €70,000 | -€9,000 | -11.4% |
| Amounts payable within one year | 42/48 | €10,671 | €6,486 | -€4,185 | -39.2% |
| Financial debts | 43 | €5,196 | - | -€5,196 | |
| Credit institutions | 430/8 | €5,196 | - | -€5,196 | |
| Trade debts | 44 | €1,353 | €3,910 | +€2,557 | +189% |
| Suppliers | 440/4 | €1,353 | €3,910 | +€2,557 | +189% |
| Taxes, remuneration and social security | 45 | €3,654 | €2,182 | -€1,472 | -40.3% |
| Taxes | 450/3 | €3,654 | €2,182 | -€1,472 | -40.3% |
| Other amounts payable | 47/48 | €468 | €394 | -€74 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,127 | €4,487 | +€360 | +8.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,958 | - | -€14,958 | |
| Other operating charges | 640/8 | €1,023 | €1,540 | +€517 | +50.5% |
| Gross operating margin | 9900 | €20,218 | -€14,288 | -€34,506 | |
| Operating profit (loss) | 9901 | €110 | -€20,315 | -€20,425 | |
| Financial income | 75/76B | €488 | €0 | -€488 | -100.0% |
| Recurring financial income | 75 | €488 | €0 | -€488 | -100.0% |
| Financial charges | 65/66B | €720 | €823 | +€103 | +14.3% |
| Recurring financial charges | 65 | €720 | €823 | +€103 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | -€122 | -€21,138 | -€21,017 | -17,262% |
| Income taxes | 67/77 | €5,402 | €284 | -€5,118 | -94.8% |
| Profit (loss) for the period | 9904 | -€5,524 | -€21,422 | -€15,898 | -288% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,524 | -€21,422 | -€15,898 | -288% |
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 14 October 2026 via checked.be.