QUGRO TRADING: 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.
QUGRO TRADING
Largest movements
- Tangible fixed assets +€120,546
up €120,546 (+56.0%), from €215,316 to €335,862
of which Plant, machinery and equipment: +€114,194
- Receivables within one year +€11,743
up €11,743 (+79.5%), from €14,773 to €26,516
of which Trade receivables: +€12,540
- Cash +€10,023
up €10,023 (+4,862%), from €206 to €10,229
mainly Debts after one year (+€88,509) and Net result for the year (+€44,429)
- Debts after one year +€88,509
new in 2025: €88,509
- Profit (loss) carried forward +€44,429
up €44,429 (+61.0%), from €72,858 to €117,287
- Current portion of long-term debt +€26,696
new in 2025: €26,696
- Short-term financial debts -€15,858
no longer reported in 2025 (was €15,858)
- Tax, wage and social debts +€10,982
up €10,982 (+79.2%), from €13,865 to €24,846
of which Taxes: +€10,982
- Gross operating margin +€70,159
up €70,159 (+279%), from €25,154 to €95,313
- Depreciation +€23,480
up €23,480 (+450%), from €5,215 to €28,694
- Financial charges +€3,893
up €3,893 (+152%), from €2,557 to €6,450
- Taxes -€1,440
down €1,440 (-11.2%), from €12,820 to €11,381
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €230,690 | €374,393 | +€143,703 | +62.3% |
| Fixed assets | 21/28 | €215,341 | €335,887 | +€120,546 | +56.0% |
| Tangible fixed assets | 22/27 | €215,316 | €335,862 | +€120,546 | +56.0% |
| Land and buildings | 22 | €207,199 | €215,023 | +€7,824 | +3.8% |
| Plant, machinery and equipment | 23 | €6,540 | €120,734 | +€114,194 | +1,746% |
| Furniture and vehicles | 24 | €1,577 | €105 | -€1,472 | -93.3% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €15,350 | €38,506 | +€23,157 | +151% |
| Amounts receivable within one year | 40/41 | €14,773 | €26,516 | +€11,743 | +79.5% |
| Trade receivables | 40 | €13,976 | €26,516 | +€12,540 | +89.7% |
| Other amounts receivable | 41 | €796 | - | -€796 | |
| Cash at bank and in hand | 54/58 | €206 | €10,229 | +€10,023 | +4,862% |
| Deferred charges and accrued income | 490/1 | €371 | €1,761 | +€1,390 | +375% |
| Total equity and liabilities | 10/49 | €230,690 | €374,393 | +€143,703 | +62.3% |
| Equity | 10/15 | €124,603 | €169,031 | +€44,429 | +35.7% |
| Contributions | 10/11 | €8,253 | €8,253 | = | 0.0% |
| Capital | 10 | €8,253 | €8,253 | = | 0.0% |
| Issued capital | 100 | €8,253 | €8,253 | = | 0.0% |
| Reserves | 13 | €43,491 | €43,491 | = | 0.0% |
| Non-distributable reserves | 130/1 | €825 | €825 | = | 0.0% |
| Legal reserve | 130 | €825 | €825 | = | 0.0% |
| Distributable reserves | 133 | €42,666 | €42,666 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,858 | €117,287 | +€44,429 | +61.0% |
| Provisions and deferred taxes | 16 | €5,000 | €5,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €5,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €101,088 | €200,362 | +€99,274 | +98.2% |
| Amounts payable after more than one year | 17 | - | €88,509 | +€88,509 | |
| Financial debts | 170/4 | - | €88,509 | +€88,509 | |
| Amounts payable within one year | 42/48 | €99,692 | €111,430 | +€11,737 | +11.8% |
| Current portion of amounts payable after more than one year | 42 | - | €26,696 | +€26,696 | |
| Financial debts | 43 | €15,858 | - | -€15,858 | |
| Credit institutions | 430/8 | €15,858 | - | -€15,858 | |
| Trade debts | 44 | €7,654 | €4,616 | -€3,038 | -39.7% |
| Suppliers | 440/4 | €7,654 | €4,616 | -€3,038 | -39.7% |
| Taxes, remuneration and social security | 45 | €13,865 | €24,846 | +€10,982 | +79.2% |
| Taxes | 450/3 | €10,347 | €21,328 | +€10,982 | +106% |
| Remuneration and social security | 454/9 | €3,518 | €3,518 | = | 0.0% |
| Other amounts payable | 47/48 | €62,316 | €55,272 | -€7,044 | -11.3% |
| Accrued charges and deferred income | 492/3 | €1,396 | €422 | -€973 | -69.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,215 | €28,694 | +€23,480 | +450% |
| Other operating charges | 640/8 | €4,706 | €4,389 | -€317 | -6.7% |
| Gross operating margin | 9900 | €25,154 | €95,313 | +€70,159 | +279% |
| Operating profit (loss) | 9901 | €15,233 | €62,229 | +€46,996 | +309% |
| Financial income | 75/76B | €50 | €31 | -€19 | -37.6% |
| Recurring financial income | 75 | €50 | €31 | -€19 | -37.6% |
| Financial charges | 65/66B | €2,557 | €6,450 | +€3,893 | +152% |
| Recurring financial charges | 65 | €2,557 | €6,450 | +€3,893 | +152% |
| Profit (loss) for the period before taxes | 9903 | €12,725 | €55,810 | +€43,085 | +339% |
| Income taxes | 67/77 | €12,820 | €11,381 | -€1,440 | -11.2% |
| Profit (loss) for the period | 9904 | -€96 | €44,429 | +€44,524 | |
| Profit (loss) for the period to be appropriated | 9905 | -€96 | €44,429 | +€44,524 |
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 23 October 2026 via checked.be.