QUEST FOR PROPERTY: 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.
QUEST FOR PROPERTY
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year +€64,799
up €64,799 (+21.1%), from €307,268 to €372,067
of which Trade receivables: +€96,256
- Tangible fixed assets -€46,383
down €46,383 (-3.3%), from €1.4m to €1.3m
of which Land and buildings: -€31,274
- Reserves +€151,629
up €151,629 (+8.5%), from €1.8m to €1.9m
of which Distributable reserves: +€151,629
- Debts after one year -€45,542
down €45,542 (-5.3%), from €859,983 to €814,441
- Gross operating margin -€89,038
down €89,038 (-43.8%), from €203,462 to €114,424
- Financial income -€20,442
down €20,442 (-5.8%), from €350,005 to €329,563
of which Financial income: -€20,442
- Depreciation +€8,174
up €8,174 (+19.5%), from €41,844 to €50,018
- Taxes -€7,429
down €7,429 (-14.6%), from €50,952 to €43,523
- Staff costs -€2,788
down €2,788 (-5.4%), from €51,910 to €49,122
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 | €3,292,755 | €3,427,847 | +€135,092 | +4.1% |
| Fixed assets | 21/28 | €2,616,643 | €2,570,260 | -€46,383 | -1.8% |
| Tangible fixed assets | 22/27 | €1,389,643 | €1,343,260 | -€46,383 | -3.3% |
| Land and buildings | 22 | €1,322,350 | €1,291,076 | -€31,274 | -2.4% |
| Plant, machinery and equipment | 23 | €35,977 | €28,512 | -€7,464 | -20.7% |
| Furniture and vehicles | 24 | €31,316 | €23,672 | -€7,644 | -24.4% |
| Financial fixed assets | 28 | €1,227,000 | €1,227,000 | = | 0.0% |
| Current assets | 29/58 | €676,112 | €857,587 | +€181,475 | +26.8% |
| Amounts receivable within one year | 40/41 | €307,268 | €372,067 | +€64,799 | +21.1% |
| Trade receivables | 40 | €197,342 | €293,598 | +€96,256 | +48.8% |
| Other amounts receivable | 41 | €109,926 | €78,469 | -€31,457 | -28.6% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €362,353 | €376,466 | +€14,113 | +3.9% |
| Deferred charges and accrued income | 490/1 | €6,491 | €9,055 | +€2,563 | +39.5% |
| Total equity and liabilities | 10/49 | €3,292,755 | €3,427,847 | +€135,092 | +4.1% |
| Equity | 10/15 | €2,305,447 | €2,457,076 | +€151,629 | +6.6% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Revaluation surpluses | 12 | €115,000 | €115,000 | = | 0.0% |
| Reserves | 13 | €1,790,447 | €1,942,076 | +€151,629 | +8.5% |
| Non-distributable reserves | 130/1 | €40,000 | €40,000 | = | 0.0% |
| Legal reserve | 130 | €40,000 | €40,000 | = | 0.0% |
| Distributable reserves | 133 | €1,750,447 | €1,902,076 | +€151,629 | +8.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €987,308 | €970,771 | -€16,537 | -1.7% |
| Amounts payable after more than one year | 17 | €859,983 | €814,441 | -€45,542 | -5.3% |
| Financial debts | 170/4 | €859,983 | €814,441 | -€45,542 | -5.3% |
| Amounts payable within one year | 42/48 | €126,523 | €153,799 | +€27,276 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €44,899 | €45,542 | +€643 | +1.4% |
| Trade debts | 44 | €15,730 | €30,316 | +€14,586 | +92.7% |
| Suppliers | 440/4 | €15,730 | €30,316 | +€14,586 | +92.7% |
| Taxes, remuneration and social security | 45 | €65,894 | €55,361 | -€10,533 | -16.0% |
| Taxes | 450/3 | €59,103 | €48,371 | -€10,732 | -18.2% |
| Remuneration and social security | 454/9 | €6,791 | €6,990 | +€199 | +2.9% |
| Other amounts payable | 47/48 | - | €22,580 | +€22,580 | |
| Accrued charges and deferred income | 492/3 | €802 | €2,532 | +€1,729 | +215.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €51,910 | €49,122 | -€2,788 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,844 | €50,018 | +€8,174 | +19.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €12,835 | €13,009 | +€174 | +1.4% |
| Gross operating margin | 9900 | €203,462 | €114,424 | -€89,038 | -43.8% |
| Operating profit (loss) | 9901 | €96,873 | €2,276 | -€94,598 | -97.7% |
| Financial income | 75/76B | €350,005 | €329,563 | -€20,442 | -5.8% |
| Recurring financial income | 75 | €350,005 | €329,563 | -€20,442 | -5.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €18,488 | €20,684 | +€2,196 | +11.9% |
| Recurring financial charges | 65 | €18,488 | €20,684 | +€2,196 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €428,390 | €311,154 | -€117,236 | -27.4% |
| Income taxes | 67/77 | €50,952 | €43,523 | -€7,429 | -14.6% |
| Profit (loss) for the period | 9904 | €377,439 | €267,631 | -€109,807 | -29.1% |
| Profit (loss) for the period to be appropriated | 9905 | €377,439 | €267,631 | -€109,807 | -29.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.