QUINAXE: 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.
QUINAXE
Largest movements
- Tangible fixed assets -€74,998
down €74,998 (-13.5%), from €554,026 to €479,028
- Cash +€24,780
up €24,780 (+1346.7%), from €1,840 to €26,620
mainly Net result for the year (+€75,763) and Investment in fixed assets (net) (+€61,475)
- Short-term financial debts -€87,500
no longer reported in 2025 (was €87,500)
- Profit (loss) carried forward +€79,528
up €79,528 (+76.7%), from -€103,648 to -€24,120
- Trade debts -€25,910
down €25,910 (-92.1%), from €28,131 to €2,222
- Debts after one year -€14,573
down €14,573 (-4.7%), from €308,795 to €294,222
- Gross operating margin +€116,950
up €116,950, from -€427 to €116,522
- Other operating charges +€14,783
up €14,783 (+666.4%), from €2,218 to €17,001
- Financial charges -€4,429
down €4,429 (-27.8%), from €15,920 to €11,491
- Depreciation -€1,614
down €1,614 (-10.7%), from €15,137 to €13,522
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 | €644,356 | €592,597 | -€51,759 | -8.0% |
| Fixed assets | 21/28 | €554,026 | €479,028 | -€74,998 | -13.5% |
| Tangible fixed assets | 22/27 | €554,026 | €479,028 | -€74,998 | -13.5% |
| Land and buildings | 22 | €554,026 | €479,028 | -€74,998 | -13.5% |
| Current assets | 29/58 | €90,330 | €113,570 | +€23,239 | +25.7% |
| Amounts receivable within one year | 40/41 | €88,490 | €86,950 | -€1,541 | -1.7% |
| Other amounts receivable | 41 | €88,490 | €86,950 | -€1,541 | -1.7% |
| Cash at bank and in hand | 54/58 | €1,840 | €26,620 | +€24,780 | +1346.7% |
| Total equity and liabilities | 10/49 | €644,356 | €592,597 | -€51,759 | -8.0% |
| Equity | 10/15 | €78,267 | €154,029 | +€75,763 | +96.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €163,322 | €159,557 | -€3,765 | -2.3% |
| Tax-exempt reserves | 132 | €162,708 | €158,943 | -€3,765 | -2.3% |
| Distributable reserves | 133 | €614 | €614 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€103,648 | -€24,120 | +€79,528 | +76.7% |
| Provisions and deferred taxes | 16 | €73,502 | €72,247 | -€1,255 | -1.7% |
| Deferred taxes | 168 | €73,502 | €72,247 | -€1,255 | -1.7% |
| Amounts payable | 17/49 | €492,587 | €366,321 | -€126,266 | -25.6% |
| Amounts payable after more than one year | 17 | €308,795 | €294,222 | -€14,573 | -4.7% |
| Financial debts | 170/4 | €308,795 | €294,222 | -€14,573 | -4.7% |
| Amounts payable within one year | 42/48 | €183,793 | €72,099 | -€111,693 | -60.8% |
| Current portion of amounts payable after more than one year | 42 | €14,196 | €14,573 | +€377 | +2.7% |
| Financial debts | 43 | €87,500 | - | -€87,500 | |
| Credit institutions | 430/8 | €87,500 | - | -€87,500 | |
| Trade debts | 44 | €28,131 | €2,222 | -€25,910 | -92.1% |
| Suppliers | 440/4 | €28,131 | €2,222 | -€25,910 | -92.1% |
| Other amounts payable | 47/48 | €53,965 | €55,304 | +€1,339 | +2.5% |
| Non-recurring operating income | 76A | - | €101,525 | +€101,525 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,137 | €13,522 | -€1,614 | -10.7% |
| Other operating charges | 640/8 | €2,218 | €17,001 | +€14,783 | +666.4% |
| Gross operating margin | 9900 | -€427 | €116,522 | +€116,950 | |
| Operating profit (loss) | 9901 | -€17,782 | €85,999 | +€103,781 | |
| Financial charges | 65/66B | €15,920 | €11,491 | -€4,429 | -27.8% |
| Recurring financial charges | 65 | €15,920 | €11,491 | -€4,429 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | -€33,702 | €74,508 | +€108,210 | |
| Transfer from deferred taxes | 780 | €1,255 | €1,255 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€32,447 | €75,763 | +€108,210 | |
| Transfer from tax-exempt reserves | 789 | €3,765 | €3,765 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,682 | €79,528 | +€108,210 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.