QUINTELIER: 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.
QUINTELIER
Largest movements
- Tangible fixed assets -€500,130
down €500,130 (-12.7%), from €3.9m to €3.4m
of which Leasing and similar rights: -€278,646
- Cash +€486,193
up €486,193 (+79.1%), from €614,270 to €1.1m
mainly Depreciation (+€721,472) and Receivables within one year (+€328,971)
- Receivables within one year -€328,971
down €328,971 (-30.4%), from €1.1m to €751,426
of which Trade receivables: -€310,367
- Financial fixed assets -€126,813
down €126,813 (-45.3%), from €279,783 to €152,970
- Stocks and contracts -€118,923
down €118,923 (-7.7%), from €1.5m to €1.4m
of which Contracts in progress: -€199,378
- Debts after one year -€432,252
down €432,252 (-16.7%), from €2.6m to €2.2m
- Other debts -€143,163
down €143,163 (-99.4%), from €143,975 to €812
- Trade debts +€112,692
up €112,692 (+13.4%), from €840,739 to €953,431
- Current portion of long-term debt -€104,390
down €104,390 (-14.2%), from €733,512 to €629,122
- Tax, wage and social debts +€75,586
up €75,586 (+29.5%), from €256,587 to €332,173
of which Taxes: +€52,131
- Staff costs +€102,086
up €102,086 (+5.4%), from €1.9m to €2.0m
- Depreciation +€61,554
up €61,554 (+9.3%), from €659,918 to €721,472
- Other operating charges +€56,007
up €56,007 (+741.7%), from €7,551 to €63,558
- Gross operating margin -€54,811
down €54,811 (-2.0%), from €2.8m to €2.8m
- Taxes -€32,675
down €32,675 (-71.0%), from €46,017 to €13,342
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 | €7,507,323 | €6,921,279 | -€586,045 | -7.8% |
| Fixed assets | 21/28 | €4,229,027 | €3,602,084 | -€626,943 | -14.8% |
| Tangible fixed assets | 22/27 | €3,949,244 | €3,449,114 | -€500,130 | -12.7% |
| Land and buildings | 22 | €193,221 | €151,524 | -€41,697 | -21.6% |
| Plant, machinery and equipment | 23 | €455,464 | €368,386 | -€87,079 | -19.1% |
| Furniture and vehicles | 24 | €155,484 | €62,776 | -€92,708 | -59.6% |
| Leasing and similar rights | 25 | €3,145,075 | €2,866,428 | -€278,646 | -8.9% |
| Financial fixed assets | 28 | €279,783 | €152,970 | -€126,813 | -45.3% |
| Current assets | 29/58 | €3,278,296 | €3,319,195 | +€40,899 | +1.2% |
| Stocks and contracts in progress | 3 | €1,549,240 | €1,430,317 | -€118,923 | -7.7% |
| Stocks | 30/36 | €325,321 | €405,776 | +€80,455 | +24.7% |
| Contracts in progress | 37 | €1,223,919 | €1,024,541 | -€199,378 | -16.3% |
| Amounts receivable within one year | 40/41 | €1,080,398 | €751,426 | -€328,971 | -30.4% |
| Trade receivables | 40 | €1,014,058 | €703,691 | -€310,367 | -30.6% |
| Other amounts receivable | 41 | €66,339 | €47,735 | -€18,604 | -28.0% |
| Cash at bank and in hand | 54/58 | €614,270 | €1,100,462 | +€486,193 | +79.1% |
| Deferred charges and accrued income | 490/1 | €34,389 | €36,989 | +€2,600 | +7.6% |
| Total equity and liabilities | 10/49 | €7,507,323 | €6,921,279 | -€586,045 | -7.8% |
| Equity | 10/15 | €2,652,379 | €2,580,652 | -€71,728 | -2.7% |
| Contributions | 10/11 | €317,973 | €317,973 | = | 0.0% |
| Capital | 10 | €317,973 | €317,973 | = | 0.0% |
| Issued capital | 100 | €317,973 | €317,973 | = | 0.0% |
| Reserves | 13 | €2,334,406 | €2,262,679 | -€71,728 | -3.1% |
| Non-distributable reserves | 130/1 | €71,654 | €71,654 | = | 0.0% |
| Legal reserve | 130 | €31,798 | €31,798 | = | 0.0% |
| Reserves not available under the articles | 1311 | €39,856 | €39,856 | = | 0.0% |
| Tax-exempt reserves | 132 | €341,313 | €244,134 | -€97,179 | -28.5% |
| Distributable reserves | 133 | €1,921,439 | €1,946,891 | +€25,451 | +1.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €122,455 | €90,062 | -€32,393 | -26.5% |
| Provisions for liabilities and charges | 160/5 | €25,000 | €25,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €25,000 | €25,000 | = | 0.0% |
| Deferred taxes | 168 | €97,455 | €65,062 | -€32,393 | -33.2% |
| Amounts payable | 17/49 | €4,732,489 | €4,250,565 | -€481,924 | -10.2% |
| Amounts payable after more than one year | 17 | €2,585,625 | €2,153,374 | -€432,252 | -16.7% |
| Financial debts | 170/4 | €2,585,625 | €2,153,374 | -€432,252 | -16.7% |
| Amounts payable within one year | 42/48 | €2,014,398 | €2,006,250 | -€8,148 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €733,512 | €629,122 | -€104,390 | -14.2% |
| Financial debts | 43 | €0 | €43,727 | +€43,727 | |
| Credit institutions | 430/8 | €0 | €43,727 | +€43,727 | |
| Trade debts | 44 | €840,739 | €953,431 | +€112,692 | +13.4% |
| Suppliers | 440/4 | €840,739 | €953,431 | +€112,692 | +13.4% |
| Advances received on contracts in progress | 46 | €39,585 | €46,985 | +€7,400 | +18.7% |
| Taxes, remuneration and social security | 45 | €256,587 | €332,173 | +€75,586 | +29.5% |
| Taxes | 450/3 | €81,295 | €133,426 | +€52,131 | +64.1% |
| Remuneration and social security | 454/9 | €175,292 | €198,747 | +€23,455 | +13.4% |
| Other amounts payable | 47/48 | €143,975 | €812 | -€143,163 | -99.4% |
| Accrued charges and deferred income | 492/3 | €132,466 | €90,941 | -€41,524 | -31.3% |
| Non-recurring operating income | 76A | €199,351 | €54,499 | -€144,851 | -72.7% |
| Remuneration, social security and pensions | 62 | €1,907,280 | €2,009,365 | +€102,086 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €659,918 | €721,472 | +€61,554 | +9.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,347 | -€17,099 | -€25,446 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €7,551 | €63,558 | +€56,007 | +741.7% |
| Non-recurring operating charges | 66A | €106,123 | €387 | -€105,736 | -99.6% |
| Gross operating margin | 9900 | €2,805,579 | €2,750,767 | -€54,811 | -2.0% |
| Operating profit (loss) | 9901 | €116,360 | -€26,916 | -€143,276 | |
| Financial income | 75/76B | €31,214 | €22,786 | -€8,428 | -27.0% |
| Recurring financial income | 75 | €31,214 | €22,786 | -€8,428 | -27.0% |
| Financial charges | 65/66B | €94,432 | €86,649 | -€7,783 | -8.2% |
| Recurring financial charges | 65 | €94,432 | €86,649 | -€7,783 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €53,142 | -€90,779 | -€143,921 | |
| Transfer from deferred taxes | 780 | €34,175 | €32,393 | -€1,782 | -5.2% |
| Income taxes | 67/77 | €46,017 | €13,342 | -€32,675 | -71.0% |
| Profit (loss) for the period | 9904 | €41,300 | -€71,728 | -€113,028 | |
| Transfer from tax-exempt reserves | 789 | €102,524 | €97,179 | -€5,345 | -5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €143,825 | €25,451 | -€118,373 | -82.3% |
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 10 October 2026 via checked.be.