QUGRO: 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.
QUGRO
Largest movements
- Cash -€6,279
down €6,279 (-63.4%), from €9,910 to €3,630
- Tangible fixed assets -€3,578
no longer reported in 2025 (was €3,578)
- Financial fixed assets -€2,308
no longer reported in 2025 (was €2,308)
- Deferred charges and accrued income -€1,094
down €1,094 (-67.8%), from €1,613 to €519
- Receivables within one year +€940
up €940 (+1195.8%), from €79 to €1,019
of which Trade receivables: +€1,019
- Debts after one year -€20,000
down €20,000 (-4.5%), from €445,000 to €425,000
- Profit (loss) carried forward +€16,480
up €16,480 (+3.5%), from -€473,193 to -€456,714
- Trade debts -€8,207
down €8,207 (-94.0%), from €8,729 to €522
- Reserves -€1,860
no longer reported in 2025 (was €1,860)
- Accrued charges and deferred income +€1,035
up €1,035 (+861.9%), from €120 to €1,155
- Gross operating margin +€28,356
up €28,356, from -€10,288 to €18,068
- Depreciation -€4,976
no longer reported in 2025 (was €4,976)
- Other operating charges +€2,327
up €2,327 (+109.8%), from €2,120 to €4,448
- Financial income +€2,004
new in 2025: €2,004
- Financial charges +€226
up €226 (+99.7%), from €226 to €452
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,487 | €5,168 | -€12,319 | -70.4% |
| Fixed assets | 21/28 | €5,886 | - | -€5,886 | |
| Tangible fixed assets | 22/27 | €3,578 | - | -€3,578 | |
| Furniture and vehicles | 24 | €3,578 | - | -€3,578 | |
| Financial fixed assets | 28 | €2,308 | - | -€2,308 | |
| Current assets | 29/58 | €11,601 | €5,168 | -€6,433 | -55.4% |
| Amounts receivable within one year | 40/41 | €79 | €1,019 | +€940 | +1195.8% |
| Trade receivables | 40 | - | €1,019 | +€1,019 | |
| Other amounts receivable | 41 | €79 | - | -€79 | |
| Cash at bank and in hand | 54/58 | €9,910 | €3,630 | -€6,279 | -63.4% |
| Deferred charges and accrued income | 490/1 | €1,613 | €519 | -€1,094 | -67.8% |
| Total equity and liabilities | 10/49 | €17,487 | €5,168 | -€12,319 | -70.4% |
| Equity | 10/15 | -€452,733 | -€438,114 | +€14,620 | +3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | - | -€1,860 | |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Profit (loss) carried forward | 14 | -€473,193 | -€456,714 | +€16,480 | +3.5% |
| Amounts payable | 17/49 | €470,220 | €443,282 | -€26,938 | -5.7% |
| Amounts payable after more than one year | 17 | €445,000 | €425,000 | -€20,000 | -4.5% |
| Other amounts payable | 178/9 | €445,000 | €425,000 | -€20,000 | -4.5% |
| Amounts payable within one year | 42/48 | €25,100 | €17,127 | -€7,973 | -31.8% |
| Trade debts | 44 | €8,729 | €522 | -€8,207 | -94.0% |
| Suppliers | 440/4 | €8,729 | €522 | -€8,207 | -94.0% |
| Taxes, remuneration and social security | 45 | €2,425 | €3,316 | +€891 | +36.7% |
| Taxes | 450/3 | €2,425 | €3,316 | +€891 | +36.7% |
| Other amounts payable | 47/48 | €13,946 | €13,290 | -€656 | -4.7% |
| Accrued charges and deferred income | 492/3 | €120 | €1,155 | +€1,035 | +861.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,976 | - | -€4,976 | |
| Other operating charges | 640/8 | €2,120 | €4,448 | +€2,327 | +109.8% |
| Gross operating margin | 9900 | -€10,288 | €18,068 | +€28,356 | |
| Operating profit (loss) | 9901 | -€17,384 | €13,620 | +€31,004 | |
| Financial income | 75/76B | - | €2,004 | +€2,004 | |
| Recurring financial income | 75 | - | €2,004 | +€2,004 | |
| Financial charges | 65/66B | €226 | €452 | +€226 | +99.7% |
| Recurring financial charges | 65 | €226 | €452 | +€226 | +99.7% |
| Profit (loss) for the period before taxes | 9903 | -€17,611 | €15,172 | +€32,783 | |
| Income taxes | 67/77 | €503 | €553 | +€50 | +9.9% |
| Profit (loss) for the period | 9904 | -€18,114 | €14,620 | +€32,733 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,114 | €14,620 | +€32,733 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2023 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.