QUERNUS: 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.
QUERNUS
Largest movements
- Receivables after one year +€25,453
up €25,453 (+18.6%), from €136,809 to €162,262
- Receivables within one year -€21,761
down €21,761 (-27.9%), from €78,087 to €56,326
of which Trade receivables: -€20,708
- Tangible fixed assets +€11,869
up €11,869 (+1427.9%), from €831 to €12,700
of which Furniture and vehicles: +€12,084
- Cash -€11,225
down €11,225 (-6.3%), from €178,261 to €167,037
mainly Receivables after one year (-€25,453) and Investment in fixed assets (net) (-€14,900)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€17,038
down €17,038 (-86.8%), from €19,627 to €2,590
- Taxes -€5,526
down €5,526 (-68.8%), from €8,034 to €2,508
- Financial charges +€4,107
up €4,107, from -€3,730 to €377
- Depreciation +€2,743
up €2,743 (+953.8%), from €288 to €3,031
- Financial income +€1,587
up €1,587 (+27.1%), from €5,859 to €7,446
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 | €442,837 | €446,183 | +€3,346 | +0.8% |
| Fixed assets | 21/28 | €831 | €12,700 | +€11,869 | +1427.9% |
| Tangible fixed assets | 22/27 | €831 | €12,700 | +€11,869 | +1427.9% |
| Plant, machinery and equipment | 23 | €705 | €490 | -€215 | -30.5% |
| Furniture and vehicles | 24 | €126 | €12,210 | +€12,084 | +9595.8% |
| Current assets | 29/58 | €442,006 | €433,483 | -€8,523 | -1.9% |
| Amounts receivable after more than one year | 29 | €136,809 | €162,262 | +€25,453 | +18.6% |
| Other amounts receivable | 291 | €136,809 | €162,262 | +€25,453 | +18.6% |
| Amounts receivable within one year | 40/41 | €78,087 | €56,326 | -€21,761 | -27.9% |
| Trade receivables | 40 | €52,937 | €32,229 | -€20,708 | -39.1% |
| Other amounts receivable | 41 | €25,150 | €24,097 | -€1,052 | -4.2% |
| Current investments | 50/53 | €43,361 | €43,361 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €178,261 | €167,037 | -€11,225 | -6.3% |
| Deferred charges and accrued income | 490/1 | €5,488 | €4,498 | -€990 | -18.0% |
| Total equity and liabilities | 10/49 | €442,837 | €446,183 | +€3,346 | +0.8% |
| Equity | 10/15 | €424,253 | €426,518 | +€2,266 | +0.5% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €424,253 | €426,518 | +€2,266 | +0.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €424,253 | €426,518 | +€2,266 | +0.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €18,584 | €19,665 | +€1,081 | +5.8% |
| Amounts payable within one year | 42/48 | €18,409 | €19,240 | +€831 | +4.5% |
| Financial debts | 43 | €562 | €0 | -€562 | -100.0% |
| Credit institutions | 430/8 | €562 | €0 | -€562 | -100.0% |
| Trade debts | 44 | €805 | €1,115 | +€310 | +38.6% |
| Suppliers | 440/4 | €805 | €1,115 | +€310 | +38.6% |
| Taxes, remuneration and social security | 45 | €13,924 | €15,007 | +€1,083 | +7.8% |
| Taxes | 450/3 | €13,924 | €15,007 | +€1,083 | +7.8% |
| Other amounts payable | 47/48 | €3,118 | €3,118 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €175 | €425 | +€250 | +142.9% |
| Non-recurring operating income | 76A | - | €3,439 | +€3,439 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €288 | €3,031 | +€2,743 | +953.8% |
| Other operating charges | 640/8 | €1,148 | €1,853 | +€705 | +61.4% |
| Gross operating margin | 9900 | €19,627 | €2,590 | -€17,038 | -86.8% |
| Operating profit (loss) | 9901 | €18,191 | -€2,295 | -€20,486 | |
| Financial income | 75/76B | €5,859 | €7,446 | +€1,587 | +27.1% |
| Recurring financial income | 75 | €5,859 | €7,446 | +€1,587 | +27.1% |
| Financial charges | 65/66B | -€3,730 | €377 | +€4,107 | |
| Recurring financial charges | 65 | -€3,730 | €377 | +€4,107 | |
| Profit (loss) for the period before taxes | 9903 | €27,780 | €4,774 | -€23,006 | -82.8% |
| Income taxes | 67/77 | €8,034 | €2,508 | -€5,526 | -68.8% |
| Profit (loss) for the period | 9904 | €19,746 | €2,266 | -€17,480 | -88.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,746 | €2,266 | -€17,480 | -88.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.