QUIPU: 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.
QUIPU
Largest movements
- Current investments -€36,794
down €36,794 (-18.5%), from €199,089 to €162,295
- Tangible fixed assets -€26,765
down €26,765 (-8.9%), from €299,153 to €272,388
of which Land and buildings: -€23,288
- Receivables after one year -€23,400
down €23,400 (-88.6%), from €26,400 to €3,000
- Receivables within one year -€22,065
down €22,065 (-92.1%), from €23,971 to €1,906
of which Trade receivables: -€20,914
- Cash +€19,031
up €19,031 (+35.1%), from €54,269 to €73,300
mainly Current investments (+€36,794) and Depreciation (+€26,765)
- Profit (loss) carried forward -€57,715
new in 2025: -€57,715
- Debts after one year -€18,912
down €18,912 (-10.9%), from €172,961 to €154,049
- Tax, wage and social debts -€8,726
down €8,726 (-56.0%), from €15,582 to €6,856
- Trade debts -€6,681
down €6,681 (-96.9%), from €6,897 to €216
- Gross operating margin -€126,447
down €126,447, from €98,776 to -€27,671
- Taxes -€21,265
down €21,265 (-99.3%), from €21,412 to €147
- Other operating charges +€3,436
up €3,436 (+124%), from €2,779 to €6,215
- Financial charges +€2,978
up €2,978 (+42.9%), from €6,947 to €9,925
- Financial income +€2,521
up €2,521 (+24.0%), from €10,488 to €13,009
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 | €604,431 | €513,197 | -€91,233 | -15.1% |
| Fixed assets | 21/28 | €299,153 | €272,388 | -€26,765 | -8.9% |
| Tangible fixed assets | 22/27 | €299,153 | €272,388 | -€26,765 | -8.9% |
| Land and buildings | 22 | €281,595 | €258,307 | -€23,288 | -8.3% |
| Plant, machinery and equipment | 23 | €3,858 | €2,886 | -€972 | -25.2% |
| Furniture and vehicles | 24 | €13,701 | €11,195 | -€2,506 | -18.3% |
| Current assets | 29/58 | €305,278 | €240,809 | -€64,468 | -21.1% |
| Amounts receivable after more than one year | 29 | €26,400 | €3,000 | -€23,400 | -88.6% |
| Other amounts receivable | 291 | €26,400 | €3,000 | -€23,400 | -88.6% |
| Amounts receivable within one year | 40/41 | €23,971 | €1,906 | -€22,065 | -92.1% |
| Trade receivables | 40 | €22,708 | €1,794 | -€20,914 | -92.1% |
| Other amounts receivable | 41 | €1,262 | €112 | -€1,151 | -91.2% |
| Current investments | 50/53 | €199,089 | €162,295 | -€36,794 | -18.5% |
| Cash at bank and in hand | 54/58 | €54,269 | €73,300 | +€19,031 | +35.1% |
| Deferred charges and accrued income | 490/1 | €1,549 | €308 | -€1,240 | -80.1% |
| Total equity and liabilities | 10/49 | €604,431 | €513,197 | -€91,233 | -15.1% |
| Equity | 10/15 | €366,405 | €308,690 | -€57,715 | -15.8% |
| Contributions | 10/11 | €12,405 | €12,405 | = | 0.0% |
| Reserves | 13 | €354,000 | €354,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €352,140 | €352,140 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€57,715 | -€57,715 | |
| Amounts payable | 17/49 | €238,026 | €204,507 | -€33,519 | -14.1% |
| Amounts payable after more than one year | 17 | €172,961 | €154,049 | -€18,912 | -10.9% |
| Financial debts | 170/4 | €172,961 | €154,049 | -€18,912 | -10.9% |
| Amounts payable within one year | 42/48 | €64,525 | €50,458 | -€14,067 | -21.8% |
| Current portion of amounts payable after more than one year | 42 | €17,869 | €18,912 | +€1,043 | +5.8% |
| Trade debts | 44 | €6,897 | €216 | -€6,681 | -96.9% |
| Suppliers | 440/4 | €6,897 | €216 | -€6,681 | -96.9% |
| Taxes, remuneration and social security | 45 | €15,582 | €6,856 | -€8,726 | -56.0% |
| Taxes | 450/3 | €15,582 | €6,856 | -€8,726 | -56.0% |
| Other amounts payable | 47/48 | €24,177 | €24,474 | +€297 | +1.2% |
| Accrued charges and deferred income | 492/3 | €540 | €0 | -€540 | -100% |
| Non-recurring operating income | 76A | - | €2,091 | +€2,091 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,314 | €26,765 | +€451 | +1.7% |
| Other operating charges | 640/8 | €2,779 | €6,215 | +€3,436 | +124% |
| Gross operating margin | 9900 | €98,776 | -€27,671 | -€126,447 | |
| Operating profit (loss) | 9901 | €69,682 | -€60,652 | -€130,333 | |
| Financial income | 75/76B | €10,488 | €13,009 | +€2,521 | +24.0% |
| Recurring financial income | 75 | €10,488 | €13,009 | +€2,521 | +24.0% |
| Financial charges | 65/66B | €6,947 | €9,925 | +€2,978 | +42.9% |
| Recurring financial charges | 65 | €6,947 | €9,925 | +€2,978 | +42.9% |
| Profit (loss) for the period before taxes | 9903 | €73,223 | -€57,567 | -€130,790 | |
| Income taxes | 67/77 | €21,412 | €147 | -€21,265 | -99.3% |
| Profit (loss) for the period | 9904 | €51,811 | -€57,715 | -€109,526 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,811 | -€57,715 | -€109,526 |
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 19 October 2026 via checked.be.