QUERTON MICHAEL: 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
QUERTON MICHAEL
NACE 86.220, Specialist medical practice
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€86,366
2024 · €97,906-€11,540
Equity
€285,242
2024 · €303,199-€17,957
Cash
€126,410
2024 · €128,811-€2,401
Balance sheet total
€1.3m
2024 · €1.3m-€28,360
Largest movements
Assets
- Tangible fixed assets -€48,801
down €48,801 (-4.7%), from €1.0m to €980,547
- Receivables within one year +€26,211
up €26,211 (+25.1%), from €104,348 to €130,560
Equity and liabilities
- Debts after one year -€84,731
down €84,731 (-9.5%), from €888,800 to €804,069
- Other debts +€78,261
up €78,261 (+350%), from €22,333 to €100,594
- Reserves -€17,957
down €17,957 (-7.3%), from €247,549 to €229,592
Income statement
- Depreciation +€12,703
up €12,703 (+10.4%), from €122,093 to €134,796
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
€97,906
Gross operating margin
+€77
Staff costs
-€2,925
Depreciation
-€12,703
Other operating charges
-€379
Financial income
+€1,842
Financial charges
-€315
Taxes
+€2,863
Result 2025
€86,366
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
+€275,219
Investment
-€85,995
Financing
-€191,625
Cash 2024
€128,811
From operations (derived)
+€275,219
Net result for the year
+€86,366
Depreciation
+€134,796
Receivables within one year
-€26,211
Deferred charges and accrued income
+€3,370
Trade debts
-€2,658
Tax, wage and social debts
+€1,296
Other debts
+€78,261
Investment (derived)
-€85,995
Investment in fixed assets (net)
-€85,995
Financing
-€191,625
Debts after one year
-€84,731
Current portion of long-term debt
-€2,572
Contributions, distributions and other
-€104,322
Cash 2025
€126,410
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,339,632 | €1,311,272 | -€28,360 | -2.1% |
| Fixed assets | 21/28 | €1,029,347 | €980,547 | -€48,801 | -4.7% |
| Tangible fixed assets | 22/27 | €1,029,347 | €980,547 | -€48,801 | -4.7% |
| Land and buildings | 22 | €415,721 | €403,609 | -€12,113 | -2.9% |
| Plant, machinery and equipment | 23 | €2,725 | €2,336 | -€389 | -14.3% |
| Furniture and vehicles | 24 | €22,445 | €8,894 | -€13,551 | -60.4% |
| Other tangible fixed assets | 26 | €588,457 | €565,708 | -€22,749 | -3.9% |
| Current assets | 29/58 | €310,285 | €330,725 | +€20,440 | +6.6% |
| Amounts receivable within one year | 40/41 | €104,348 | €130,560 | +€26,211 | +25.1% |
| Other amounts receivable | 41 | €104,348 | €130,560 | +€26,211 | +25.1% |
| Cash at bank and in hand | 54/58 | €128,811 | €126,410 | -€2,401 | -1.9% |
| Deferred charges and accrued income | 490/1 | €77,125 | €73,756 | -€3,370 | -4.4% |
| Total equity and liabilities | 10/49 | €1,339,632 | €1,311,272 | -€28,360 | -2.1% |
| Equity | 10/15 | €303,199 | €285,242 | -€17,957 | -5.9% |
| Contributions | 10/11 | €55,650 | €55,650 | = | 0.0% |
| Reserves | 13 | €247,549 | €229,592 | -€17,957 | -7.3% |
| Distributable reserves | 133 | €247,549 | €229,592 | -€17,957 | -7.3% |
| Amounts payable | 17/49 | €1,036,433 | €1,026,030 | -€10,404 | -1.0% |
| Amounts payable after more than one year | 17 | €888,800 | €804,069 | -€84,731 | -9.5% |
| Financial debts | 170/4 | €888,800 | €804,069 | -€84,731 | -9.5% |
| Amounts payable within one year | 42/48 | €144,362 | €218,689 | +€74,327 | +51.5% |
| Current portion of amounts payable after more than one year | 42 | €87,545 | €84,973 | -€2,572 | -2.9% |
| Trade debts | 44 | €3,502 | €844 | -€2,658 | -75.9% |
| Suppliers | 440/4 | €3,502 | €844 | -€2,658 | -75.9% |
| Taxes, remuneration and social security | 45 | €30,981 | €32,277 | +€1,296 | +4.2% |
| Taxes | 450/3 | €25,553 | €24,524 | -€1,029 | -4.0% |
| Remuneration and social security | 454/9 | €5,429 | €7,754 | +€2,325 | +42.8% |
| Other amounts payable | 47/48 | €22,333 | €100,594 | +€78,261 | +350% |
| Accrued charges and deferred income | 492/3 | €3,271 | €3,271 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €22,524 | €25,449 | +€2,925 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,093 | €134,796 | +€12,703 | +10.4% |
| Other operating charges | 640/8 | €6,896 | €7,275 | +€379 | +5.5% |
| Gross operating margin | 9900 | €319,560 | €319,637 | +€77 | 0.0% |
| Operating profit (loss) | 9901 | €168,047 | €152,117 | -€15,930 | -9.5% |
| Financial income | 75/76B | €3,718 | €5,560 | +€1,842 | +49.5% |
| Recurring financial income | 75 | €3,718 | €5,560 | +€1,842 | +49.5% |
| Financial charges | 65/66B | €27,976 | €28,290 | +€315 | +1.1% |
| Recurring financial charges | 65 | €27,976 | €28,290 | +€315 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €143,789 | €129,386 | -€14,403 | -10.0% |
| Income taxes | 67/77 | €45,884 | €43,021 | -€2,863 | -6.2% |
| Profit (loss) for the period | 9904 | €97,906 | €86,366 | -€11,540 | -11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €97,906 | €86,366 | -€11,540 | -11.8% |
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 16 October 2026 via checked.be.