QUINQUATRIUM: 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.
QUINQUATRIUM
Largest movements
- Receivables after one year +€7,422
up €7,422 (+5.6%), from €133,251 to €140,673
- Receivables within one year +€6,932
up €6,932 (+20.0%), from €34,707 to €41,638
of which Other amounts receivable: +€20,840
- Deferred charges and accrued income -€6,927
down €6,927 (-33.6%), from €20,622 to €13,695
- Tangible fixed assets -€4,056
down €4,056 (-7.7%), from €52,627 to €48,571
of which Furniture and vehicles: -€6,785
- Reserves +€23,489
up €23,489 (+12.9%), from €181,754 to €205,242
of which Distributable reserves: +€23,489
- Tax, wage and social debts -€10,730
down €10,730 (-37.5%), from €28,641 to €17,911
- Current portion of long-term debt -€9,573
down €9,573 (-100%), from €9,573 to €0
- Short-term financial debts +€5,928
up €5,928, from €0 to €5,928
- Gross operating margin -€16,586
down €16,586 (-24.8%), from €66,868 to €50,282
- Taxes -€2,799
down €2,799 (-15.7%), from €17,810 to €15,011
- Financial charges -€2,227
down €2,227 (-34.6%), from €6,428 to €4,201
- Depreciation +€1,946
up €1,946 (+20.4%), from €9,520 to €11,465
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 | €250,844 | €256,836 | +€5,992 | +2.4% |
| Fixed assets | 21/28 | €52,927 | €48,871 | -€4,056 | -7.7% |
| Tangible fixed assets | 22/27 | €52,627 | €48,571 | -€4,056 | -7.7% |
| Plant, machinery and equipment | 23 | €126 | €3,207 | +€3,081 | +2,447% |
| Furniture and vehicles | 24 | €49,565 | €42,780 | -€6,785 | -13.7% |
| Other tangible fixed assets | 26 | €2,936 | €2,584 | -€352 | -12.0% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €197,917 | €207,965 | +€10,048 | +5.1% |
| Amounts receivable after more than one year | 29 | €133,251 | €140,673 | +€7,422 | +5.6% |
| Other amounts receivable | 291 | €133,251 | €140,673 | +€7,422 | +5.6% |
| Amounts receivable within one year | 40/41 | €34,707 | €41,638 | +€6,932 | +20.0% |
| Trade receivables | 40 | €31,339 | €17,431 | -€13,908 | -44.4% |
| Other amounts receivable | 41 | €3,368 | €24,208 | +€20,840 | +619% |
| Current investments | 50/53 | €5,302 | €7,513 | +€2,211 | +41.7% |
| Cash at bank and in hand | 54/58 | €4,035 | €4,445 | +€410 | +10.2% |
| Deferred charges and accrued income | 490/1 | €20,622 | €13,695 | -€6,927 | -33.6% |
| Total equity and liabilities | 10/49 | €250,844 | €256,836 | +€5,992 | +2.4% |
| Equity | 10/15 | €200,304 | €223,792 | +€23,489 | +11.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €181,754 | €205,242 | +€23,489 | +12.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €181,754 | €205,242 | +€23,489 | +12.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €50,541 | €33,044 | -€17,497 | -34.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €49,221 | €31,724 | -€17,497 | -35.5% |
| Current portion of amounts payable after more than one year | 42 | €9,573 | €0 | -€9,573 | -100% |
| Financial debts | 43 | €0 | €5,928 | +€5,928 | |
| Credit institutions | 430/8 | €0 | €5,928 | +€5,928 | |
| Trade debts | 44 | €8,357 | €5,861 | -€2,496 | -29.9% |
| Suppliers | 440/4 | €8,357 | €5,861 | -€2,496 | -29.9% |
| Taxes, remuneration and social security | 45 | €28,641 | €17,911 | -€10,730 | -37.5% |
| Taxes | 450/3 | €28,641 | €17,911 | -€10,730 | -37.5% |
| Other amounts payable | 47/48 | €2,650 | €2,024 | -€626 | -23.6% |
| Accrued charges and deferred income | 492/3 | €1,320 | €1,320 | = | 0.0% |
| Non-recurring operating income | 76A | €612 | €0 | -€612 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,520 | €11,465 | +€1,946 | +20.4% |
| Other operating charges | 640/8 | €3,318 | €3,803 | +€485 | +14.6% |
| Non-recurring operating charges | 66A | €0 | €276 | +€276 | |
| Gross operating margin | 9900 | €66,868 | €50,282 | -€16,586 | -24.8% |
| Operating profit (loss) | 9901 | €54,030 | €34,738 | -€19,292 | -35.7% |
| Financial income | 75/76B | €8,042 | €7,963 | -€79 | -1.0% |
| Recurring financial income | 75 | €8,042 | €7,963 | -€79 | -1.0% |
| Financial charges | 65/66B | €6,428 | €4,201 | -€2,227 | -34.6% |
| Recurring financial charges | 65 | €6,428 | €4,201 | -€2,227 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €55,643 | €38,500 | -€17,143 | -30.8% |
| Income taxes | 67/77 | €17,810 | €15,011 | -€2,799 | -15.7% |
| Profit (loss) for the period | 9904 | €37,834 | €23,489 | -€14,345 | -37.9% |
| Profit (loss) for the period to be appropriated | 9905 | €37,834 | €23,489 | -€14,345 | -37.9% |
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 18 October 2026 via checked.be.