QUETZAL PD: what changed
What changed
QUETZAL PD
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€328,384
2024 · €272,801+€55,583
Equity
€1.8m
2024 · €1.6m+€212,584
Cash
€517,178
2024 · €227,607+€289,571
Balance sheet total
€2.9m
2024 · €2.8m+€113,281
Largest movements
Assets
- Receivables within one year -€510,360
down €510,360 (-71.9%), from €709,491 to €199,130
of which Trade receivables: -€452,793
- Current investments +€345,229
new in 2025: €345,229
- Cash +€289,571
up €289,571 (+127%), from €227,607 to €517,178
mainly Receivables within one year (+€510,360) and Net result for the year (+€328,384)
- Tangible fixed assets -€33,234
down €33,234 (-1.8%), from €1.9m to €1.8m
of which Land and buildings: -€19,495
Equity and liabilities
- Reserves +€212,584
up €212,584 (+14.9%), from €1.4m to €1.6m
- Debts after one year -€135,734
down €135,734 (-14.8%), from €919,768 to €784,034
- Tax, wage and social debts +€50,308
up €50,308 (+37.5%), from €134,167 to €184,475
Income statement
- Taxes -€75,921
down €75,921 (-47.8%), from €158,698 to €82,777
- Financial charges +€16,323
up €16,323 (+53.6%), from €30,476 to €46,798
- Financial income +€6,018
up €6,018 (+33.1%), from €18,176 to €24,194
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€272,801
Gross operating margin
-€4,267
Depreciation
-€5,310
Other operating charges
-€455
Financial income
+€6,018
Financial charges
-€16,323
Taxes
+€75,921
Result 2025
€328,384
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€961,044
Investment
-€412,944
Financing
-€258,528
Cash 2024
€227,607
From operations (derived)
+€961,044
Net result for the year
+€328,384
Depreciation
+€100,949
Receivables within one year
+€510,360
Deferred charges and accrued income
-€22,075
Trade debts
-€8,111
Tax, wage and social debts
+€50,308
Smaller working-capital items
+€1,229
Investment (derived)
-€412,944
Investment in fixed assets (net)
-€67,715
Current investments
-€345,229
Financing
-€258,528
Debts after one year
-€135,734
Current portion of long-term debt
+€3,230
Short-term financial debts
-€10,224
Contributions, distributions and other
-€115,800
Cash 2025
€517,178
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,829,410 | €2,942,692 | +€113,281 | +4.0% |
| Fixed assets | 21/28 | €1,880,448 | €1,847,214 | -€33,234 | -1.8% |
| Tangible fixed assets | 22/27 | €1,880,448 | €1,847,214 | -€33,234 | -1.8% |
| Land and buildings | 22 | €1,708,145 | €1,688,650 | -€19,495 | -1.1% |
| Plant, machinery and equipment | 23 | €5,034 | €4,239 | -€795 | -15.8% |
| Furniture and vehicles | 24 | €59,617 | €46,673 | -€12,944 | -21.7% |
| Other tangible fixed assets | 26 | €107,652 | €107,652 | = | 0.0% |
| Current assets | 29/58 | €948,963 | €1,095,478 | +€146,515 | +15.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €709,491 | €199,130 | -€510,360 | -71.9% |
| Trade receivables | 40 | €488,518 | €35,725 | -€452,793 | -92.7% |
| Other amounts receivable | 41 | €220,972 | €163,405 | -€57,568 | -26.1% |
| Current investments | 50/53 | - | €345,229 | +€345,229 | |
| Cash at bank and in hand | 54/58 | €227,607 | €517,178 | +€289,571 | +127% |
| Deferred charges and accrued income | 490/1 | €11,865 | €33,940 | +€22,075 | +186% |
| Total equity and liabilities | 10/49 | €2,829,410 | €2,942,692 | +€113,281 | +4.0% |
| Equity | 10/15 | €1,578,591 | €1,791,175 | +€212,584 | +13.5% |
| Contributions | 10/11 | €147,400 | €147,400 | = | 0.0% |
| Reserves | 13 | €1,431,191 | €1,643,775 | +€212,584 | +14.9% |
| Distributable reserves | 133 | €1,431,191 | €1,643,775 | +€212,584 | +14.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,250,819 | €1,151,517 | -€99,303 | -7.9% |
| Amounts payable after more than one year | 17 | €919,768 | €784,034 | -€135,734 | -14.8% |
| Financial debts | 170/4 | €919,768 | €784,034 | -€135,734 | -14.8% |
| Amounts payable within one year | 42/48 | €331,041 | €367,483 | +€36,442 | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €132,504 | €135,734 | +€3,230 | +2.4% |
| Financial debts | 43 | €30,471 | €20,246 | -€10,224 | -33.6% |
| Credit institutions | 430/8 | €30,471 | €20,246 | -€10,224 | -33.6% |
| Trade debts | 44 | €28,679 | €20,568 | -€8,111 | -28.3% |
| Suppliers | 440/4 | €28,679 | €20,568 | -€8,111 | -28.3% |
| Taxes, remuneration and social security | 45 | €134,167 | €184,475 | +€50,308 | +37.5% |
| Taxes | 450/3 | €134,167 | €184,475 | +€50,308 | +37.5% |
| Other amounts payable | 47/48 | €5,221 | €6,459 | +€1,239 | +23.7% |
| Accrued charges and deferred income | 492/3 | €10 | €0 | -€10 | -100% |
| Non-recurring operating income | 76A | - | €18,517 | +€18,517 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,639 | €100,949 | +€5,310 | +5.6% |
| Other operating charges | 640/8 | €4,302 | €4,757 | +€455 | +10.6% |
| Gross operating margin | 9900 | €543,739 | €539,472 | -€4,267 | -0.8% |
| Operating profit (loss) | 9901 | €443,798 | €433,765 | -€10,033 | -2.3% |
| Financial income | 75/76B | €18,176 | €24,194 | +€6,018 | +33.1% |
| Recurring financial income | 75 | €18,176 | €24,194 | +€6,018 | +33.1% |
| Financial charges | 65/66B | €30,476 | €46,798 | +€16,323 | +53.6% |
| Recurring financial charges | 65 | €30,476 | €46,798 | +€16,323 | +53.6% |
| Profit (loss) for the period before taxes | 9903 | €431,499 | €411,161 | -€20,338 | -4.7% |
| Income taxes | 67/77 | €158,698 | €82,777 | -€75,921 | -47.8% |
| Profit (loss) for the period | 9904 | €272,801 | €328,384 | +€55,583 | +20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €272,801 | €328,384 | +€55,583 | +20.4% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.