QUINO: 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.
QUINO
Largest movements
- Receivables within one year -€26,666
down €26,666 (-57.6%), from €46,310 to €19,644
of which Trade receivables: -€26,084
- Stocks and contracts -€22,286
down €22,286 (-49.7%), from €44,811 to €22,525
- Tangible fixed assets -€15,947
down €15,947 (-3.2%), from €492,219 to €476,272
of which Furniture and vehicles: -€14,439
- Cash +€10,415
up €10,415 (+61.3%), from €16,991 to €27,406
mainly Depreciation (+€38,819) and Receivables within one year (+€26,666)
- Debts after one year -€33,135
down €33,135 (-12.9%), from €256,494 to €223,359
- Other debts -€27,147
down €27,147 (-52.0%), from €52,218 to €25,071
- Reserves +€21,127
up €21,127 (+17.9%), from €117,942 to €139,069
- Trade debts -€16,398
down €16,398 (-66.2%), from €24,788 to €8,390
- Write-downs -€31,310
no longer reported in 2025 (was €31,310)
- Gross operating margin -€22,591
down €22,591 (-20.6%), from €109,452 to €86,861
- Other operating charges -€12,568
down €12,568 (-88.3%), from €14,227 to €1,659
- Taxes +€11,987
up €11,987 (+2246.8%), from €534 to €12,520
- Depreciation -€6,021
down €6,021 (-13.4%), from €44,841 to €38,819
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 | €601,347 | €550,410 | -€50,937 | -8.5% |
| Fixed assets | 21/28 | €492,219 | €478,772 | -€13,447 | -2.7% |
| Tangible fixed assets | 22/27 | €492,219 | €476,272 | -€15,947 | -3.2% |
| Land and buildings | 22 | €433,763 | €426,503 | -€7,260 | -1.7% |
| Plant, machinery and equipment | 23 | €13,143 | €18,895 | +€5,752 | +43.8% |
| Furniture and vehicles | 24 | €37,323 | €22,884 | -€14,439 | -38.7% |
| Other tangible fixed assets | 26 | €7,990 | €7,990 | = | 0.0% |
| Financial fixed assets | 28 | - | €2,500 | +€2,500 | |
| Current assets | 29/58 | €109,128 | €71,638 | -€37,490 | -34.4% |
| Stocks and contracts in progress | 3 | €44,811 | €22,525 | -€22,286 | -49.7% |
| Stocks | 30/36 | €44,811 | €22,525 | -€22,286 | -49.7% |
| Amounts receivable within one year | 40/41 | €46,310 | €19,644 | -€26,666 | -57.6% |
| Trade receivables | 40 | €37,394 | €11,310 | -€26,084 | -69.8% |
| Other amounts receivable | 41 | €8,916 | €8,334 | -€582 | -6.5% |
| Cash at bank and in hand | 54/58 | €16,991 | €27,406 | +€10,415 | +61.3% |
| Deferred charges and accrued income | 490/1 | €1,017 | €2,064 | +€1,047 | +103.0% |
| Total equity and liabilities | 10/49 | €601,347 | €550,410 | -€50,937 | -8.5% |
| Equity | 10/15 | €230,342 | €251,469 | +€21,127 | +9.2% |
| Contributions | 10/11 | €112,400 | €112,400 | = | 0.0% |
| Reserves | 13 | €117,942 | €139,069 | +€21,127 | +17.9% |
| Distributable reserves | 133 | €117,942 | €139,069 | +€21,127 | +17.9% |
| Amounts payable | 17/49 | €371,006 | €298,941 | -€72,064 | -19.4% |
| Amounts payable after more than one year | 17 | €256,494 | €223,359 | -€33,135 | -12.9% |
| Financial debts | 170/4 | €256,494 | €223,359 | -€33,135 | -12.9% |
| Amounts payable within one year | 42/48 | €114,512 | €75,575 | -€38,937 | -34.0% |
| Current portion of amounts payable after more than one year | 42 | €32,381 | €33,135 | +€754 | +2.3% |
| Trade debts | 44 | €24,788 | €8,390 | -€16,398 | -66.2% |
| Suppliers | 440/4 | €24,788 | €8,390 | -€16,398 | -66.2% |
| Taxes, remuneration and social security | 45 | €5,125 | €8,979 | +€3,854 | +75.2% |
| Taxes | 450/3 | €5,125 | €8,979 | +€3,854 | +75.2% |
| Other amounts payable | 47/48 | €52,218 | €25,071 | -€27,147 | -52.0% |
| Accrued charges and deferred income | 492/3 | - | €8 | +€8 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,841 | €38,819 | -€6,021 | -13.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €31,310 | - | -€31,310 | |
| Other operating charges | 640/8 | €14,227 | €1,659 | -€12,568 | -88.3% |
| Gross operating margin | 9900 | €109,452 | €86,861 | -€22,591 | -20.6% |
| Operating profit (loss) | 9901 | €19,073 | €46,382 | +€27,309 | +143.2% |
| Financial income | 75/76B | €245 | €153 | -€92 | -37.6% |
| Recurring financial income | 75 | €245 | €153 | -€92 | -37.6% |
| Financial charges | 65/66B | €16,938 | €12,055 | -€4,882 | -28.8% |
| Recurring financial charges | 65 | €16,938 | €12,055 | -€4,882 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €2,381 | €34,480 | +€32,099 | +1348.0% |
| Income taxes | 67/77 | €534 | €12,520 | +€11,987 | +2246.8% |
| Profit (loss) for the period | 9904 | €1,848 | €21,960 | +€20,112 | +1088.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,848 | €21,960 | +€20,112 | +1088.5% |
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 12 October 2026 via checked.be.