QUERTUSFIN: 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.
QUERTUSFIN
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Financial income +€9.0m
up €9.0m (+25.7%), from €35.0m to €44.0m
- Financial charges -€1,036
down €1,036 (-75.8%), from €1,367 to €331
- Gross operating margin +€535
up €535 (+16.2%), from -€3,295 to -€2,760
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €416,812,548 | €416,808,749 | -€3,800 | 0.0% |
| Fixed assets | 21/28 | €416,790,907 | €416,790,907 | = | 0.0% |
| Financial fixed assets | 28 | €416,790,907 | €416,790,907 | = | 0.0% |
| Current assets | 29/58 | €21,642 | €17,842 | -€3,800 | -17.6% |
| Amounts receivable within one year | 40/41 | €21,588 | €17,802 | -€3,786 | -17.5% |
| Other amounts receivable | 41 | €21,588 | €17,802 | -€3,786 | -17.5% |
| Deferred charges and accrued income | 490/1 | €54 | €40 | -€14 | -25.6% |
| Total equity and liabilities | 10/49 | €416,812,548 | €416,808,749 | -€3,800 | 0.0% |
| Equity | 10/15 | €416,810,032 | €416,806,280 | -€3,752 | 0.0% |
| Contributions | 10/11 | €34,000,589 | €34,000,589 | = | 0.0% |
| Capital | 10 | €34,000,589 | €34,000,589 | = | 0.0% |
| Issued capital | 100 | €34,000,589 | €34,000,589 | = | 0.0% |
| Reserves | 13 | €238,265,380 | €238,261,629 | -€3,752 | 0.0% |
| Non-distributable reserves | 130/1 | €3,400,059 | €3,400,059 | = | 0.0% |
| Legal reserve | 130 | €3,400,059 | €3,400,059 | = | 0.0% |
| Tax-exempt reserves | 132 | €74,834 | €74,834 | = | 0.0% |
| Distributable reserves | 133 | €234,790,487 | €234,786,735 | -€3,752 | 0.0% |
| Profit (loss) carried forward | 14 | €144,544,063 | €144,544,063 | = | 0.0% |
| Amounts payable | 17/49 | €2,517 | €2,468 | -€48 | -1.9% |
| Accrued charges and deferred income | 492/3 | €2,517 | €2,468 | -€48 | -1.9% |
| Other operating charges | 640/8 | €1,097 | €1,126 | +€30 | +2.7% |
| Gross operating margin | 9900 | -€3,295 | -€2,760 | +€535 | +16.2% |
| Operating profit (loss) | 9901 | -€4,391 | -€3,886 | +€505 | +11.5% |
| Financial income | 75/76B | €35,000,574 | €44,000,466 | +€9.0m | +25.7% |
| Recurring financial income | 75 | €35,000,574 | €44,000,466 | +€9.0m | +25.7% |
| Financial charges | 65/66B | €1,367 | €331 | -€1,036 | -75.8% |
| Recurring financial charges | 65 | €1,367 | €331 | -€1,036 | -75.8% |
| Profit (loss) for the period before taxes | 9903 | €34,994,815 | €43,996,249 | +€9.0m | +25.7% |
| Profit (loss) for the period | 9904 | €34,994,815 | €43,996,249 | +€9.0m | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,994,815 | €43,996,249 | +€9.0m | +25.7% |
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 10 October 2026 via checked.be.