QUIRINO: what changed
QUIRINO
Largest movements
- Financial fixed assets +€71,662
up €71,662 (+13.3%), from €537,634 to €609,296
- Receivables within one year +€38,918
up €38,918 (+37.3%), from €104,329 to €143,247
of which Other amounts receivable: +€23,180
- Current investments -€22,684
down €22,684 (-2.2%), from €1.0m to €1.0m
- Cash +€18,204
up €18,204 (+1,315%), from €1,384 to €19,588
mainly Net result for the year (+€76,113) and Other debts (+€30,257)
- Reserves +€68,613
up €68,613 (+5.7%), from €1.2m to €1.3m
- Other debts +€30,257
up €30,257 (+14.5%), from €208,507 to €238,764
- Trade debts +€20,765
up €20,765 (+99.5%), from €20,874 to €41,639
- Debts after one year -€20,000
down €20,000 (-100%), from €20,000 to €0
- Financial income -€16,508
down €16,508 (-14.5%), from €114,205 to €97,697
- Taxes +€4,114
up €4,114 (+14.0%), from €29,368 to €33,482
- Gross operating margin -€3,081
down €3,081 (-6.5%), from €47,313 to €44,232
- Financial charges -€1,089
down €1,089 (-3.9%), from €27,831 to €26,742
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,696,505 | €1,804,015 | +€107,510 | +6.3% |
| Fixed assets | 21/28 | €550,537 | €623,609 | +€73,072 | +13.3% |
| Tangible fixed assets | 22/27 | €12,903 | €14,313 | +€1,410 | +10.9% |
| Land and buildings | 22 | €5,500 | €5,000 | -€500 | -9.1% |
| Furniture and vehicles | 24 | €4,927 | €7,794 | +€2,867 | +58.2% |
| Other tangible fixed assets | 26 | €2,476 | €1,519 | -€958 | -38.7% |
| Financial fixed assets | 28 | €537,634 | €609,296 | +€71,662 | +13.3% |
| Current assets | 29/58 | €1,145,968 | €1,180,406 | +€34,438 | +3.0% |
| Amounts receivable within one year | 40/41 | €104,329 | €143,247 | +€38,918 | +37.3% |
| Trade receivables | 40 | €25,000 | €40,738 | +€15,738 | +63.0% |
| Other amounts receivable | 41 | €79,329 | €102,509 | +€23,180 | +29.2% |
| Current investments | 50/53 | €1,040,255 | €1,017,571 | -€22,684 | -2.2% |
| Cash at bank and in hand | 54/58 | €1,384 | €19,588 | +€18,204 | +1,315% |
| Total equity and liabilities | 10/49 | €1,696,505 | €1,804,015 | +€107,510 | +6.3% |
| Equity | 10/15 | €1,243,961 | €1,312,574 | +€68,613 | +5.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €1,193,961 | €1,262,574 | +€68,613 | +5.7% |
| Distributable reserves | 133 | €1,193,961 | €1,262,574 | +€68,613 | +5.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €452,544 | €491,441 | +€38,897 | +8.6% |
| Amounts payable after more than one year | 17 | €20,000 | €0 | -€20,000 | -100% |
| Other amounts payable | 178/9 | €20,000 | €0 | -€20,000 | -100% |
| Amounts payable within one year | 42/48 | €421,212 | €481,340 | +€60,128 | +14.3% |
| Financial debts | 43 | €147,529 | €147,548 | +€18 | 0.0% |
| Credit institutions | 430/8 | €127,529 | €127,548 | +€18 | 0.0% |
| Other loans | 439 | €20,000 | €20,000 | = | 0.0% |
| Trade debts | 44 | €20,874 | €41,639 | +€20,765 | +99.5% |
| Suppliers | 440/4 | €20,874 | €41,639 | +€20,765 | +99.5% |
| Taxes, remuneration and social security | 45 | €44,302 | €53,389 | +€9,087 | +20.5% |
| Taxes | 450/3 | €44,302 | €53,389 | +€9,087 | +20.5% |
| Other amounts payable | 47/48 | €208,507 | €238,764 | +€30,257 | +14.5% |
| Accrued charges and deferred income | 492/3 | €11,331 | €10,101 | -€1,231 | -10.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,845 | €3,877 | +€31 | +0.8% |
| Other operating charges | 640/8 | €1,872 | €1,715 | -€157 | -8.4% |
| Gross operating margin | 9900 | €47,313 | €44,232 | -€3,081 | -6.5% |
| Operating profit (loss) | 9901 | €41,595 | €38,639 | -€2,956 | -7.1% |
| Financial income | 75/76B | €114,205 | €97,697 | -€16,508 | -14.5% |
| Recurring financial income | 75 | €114,205 | €97,697 | -€16,508 | -14.5% |
| Financial charges | 65/66B | €27,831 | €26,742 | -€1,089 | -3.9% |
| Recurring financial charges | 65 | €27,831 | €26,742 | -€1,089 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €127,969 | €109,595 | -€18,374 | -14.4% |
| Income taxes | 67/77 | €29,368 | €33,482 | +€4,114 | +14.0% |
| Profit (loss) for the period | 9904 | €98,601 | €76,113 | -€22,488 | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €98,601 | €76,113 | -€22,488 | -22.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.