QUIET PLEASE: 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.
QUIET PLEASE
Largest movements
- Tangible fixed assets -€259,395
down €259,395 (-6.3%), from €4.1m to €3.9m
of which Land and buildings: -€273,474
- Cash -€113,090
down €113,090 (-75.4%), from €149,959 to €36,870
mainly Net result for the year (-€220,473) and Other debts (-€141,495)
- Profit (loss) carried forward -€220,473
down €220,473 (-27.4%), from -€805,607 to -€1.0m
- Other debts -€141,495
down €141,495 (-6.9%), from €2.1m to €1.9m
- Current portion of long-term debt -€108,681
down €108,681 (-54.7%), from €198,544 to €89,862
- Debts after one year +€88,062
up €88,062 (+4.9%), from €1.8m to €1.9m
- Financial charges +€94,086
up €94,086 (+87.5%), from €107,505 to €201,590
- Gross operating margin -€66,841
down €66,841 (-18.9%), from €354,107 to €287,266
- Other operating charges +€7,194
up €7,194 (+36.4%), from €19,738 to €26,931
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 | €4,287,805 | €3,923,538 | -€364,267 | -8.5% |
| Fixed assets | 21/28 | €4,133,491 | €3,874,096 | -€259,395 | -6.3% |
| Tangible fixed assets | 22/27 | €4,133,491 | €3,874,096 | -€259,395 | -6.3% |
| Land and buildings | 22 | €4,125,918 | €3,852,443 | -€273,474 | -6.6% |
| Plant, machinery and equipment | 23 | €484 | €39 | -€445 | -91.9% |
| Furniture and vehicles | 24 | €5,577 | €21,413 | +€15,836 | +284% |
| Other tangible fixed assets | 26 | €1,512 | €201 | -€1,311 | -86.7% |
| Current assets | 29/58 | €154,314 | €49,441 | -€104,873 | -68.0% |
| Amounts receivable within one year | 40/41 | - | €4,980 | +€4,980 | |
| Trade receivables | 40 | - | €4,980 | +€4,980 | |
| Current investments | 50/53 | €2,600 | €2,600 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €149,959 | €36,870 | -€113,090 | -75.4% |
| Deferred charges and accrued income | 490/1 | €1,755 | €4,992 | +€3,237 | +184% |
| Total equity and liabilities | 10/49 | €4,287,805 | €3,923,538 | -€364,267 | -8.5% |
| Equity | 10/15 | -€767,913 | -€988,386 | -€220,473 | -28.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,094 | €19,094 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,550 | €5,550 | = | 0.0% |
| Distributable reserves | 133 | €13,543 | €13,543 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€805,607 | -€1,026,080 | -€220,473 | -27.4% |
| Amounts payable | 17/49 | €5,055,718 | €4,911,924 | -€143,795 | -2.8% |
| Amounts payable after more than one year | 17 | €1,779,075 | €1,867,136 | +€88,062 | +4.9% |
| Financial debts | 170/4 | €1,779,075 | €1,867,136 | +€88,062 | +4.9% |
| Amounts payable within one year | 42/48 | €3,276,644 | €3,025,843 | -€250,800 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €198,544 | €89,862 | -€108,681 | -54.7% |
| Financial debts | 43 | €1,000,000 | €1,000,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,000,000 | €1,000,000 | = | 0.0% |
| Trade debts | 44 | €3,348 | €9,061 | +€5,712 | +171% |
| Suppliers | 440/4 | €3,348 | €9,061 | +€5,712 | +171% |
| Advances received on contracts in progress | 46 | €1,667 | €8,739 | +€7,072 | +424% |
| Taxes, remuneration and social security | 45 | €15,792 | €2,383 | -€13,409 | -84.9% |
| Taxes | 450/3 | €14,827 | €1,384 | -€13,443 | -90.7% |
| Remuneration and social security | 454/9 | €965 | €999 | +€34 | +3.5% |
| Other amounts payable | 47/48 | €2,057,293 | €1,915,799 | -€141,495 | -6.9% |
| Accrued charges and deferred income | 492/3 | - | €18,944 | +€18,944 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €278,158 | €279,048 | +€890 | +0.3% |
| Other operating charges | 640/8 | €19,738 | €26,931 | +€7,194 | +36.4% |
| Gross operating margin | 9900 | €354,107 | €287,266 | -€66,841 | -18.9% |
| Operating profit (loss) | 9901 | €56,212 | -€18,713 | -€74,925 | |
| Financial income | 75/76B | €170 | €7 | -€163 | -95.9% |
| Recurring financial income | 75 | €170 | €7 | -€163 | -95.9% |
| Financial charges | 65/66B | €107,505 | €201,590 | +€94,086 | +87.5% |
| Recurring financial charges | 65 | €107,505 | €201,590 | +€94,086 | +87.5% |
| Profit (loss) for the period before taxes | 9903 | -€51,123 | -€220,297 | -€169,174 | -331% |
| Income taxes | 67/77 | €166 | €176 | +€10 | +6.0% |
| Profit (loss) for the period | 9904 | -€51,289 | -€220,473 | -€169,184 | -330% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,289 | -€220,473 | -€169,184 | -330% |
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 17 October 2026 via checked.be.