QUNOVA PROJECTS: 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.
QUNOVA PROJECTS
Largest movements
- Financial fixed assets +€32,000
up €32,000 (+80.0%), from €40,000 to €72,000
- Cash +€18,810
up €18,810 (+7.8%), from €242,367 to €261,177
mainly Net result for the year (+€62,918) and Deferred charges and accrued income (+€7,071)
- Receivables within one year +€12,255
up €12,255 (+94.0%), from €13,038 to €25,293
of which Other amounts receivable: +€11,348
- Deferred charges and accrued income -€7,071
down €7,071 (-25.9%), from €27,306 to €20,235
- Reserves +€61,252
up €61,252 (+20.3%), from €301,456 to €362,708
- Tax, wage and social debts -€6,135
down €6,135 (-83.5%), from €7,350 to €1,215
of which Taxes: -€6,142
- Gross operating margin -€46,565
down €46,565 (-31.6%), from €147,569 to €101,003
- Taxes -€17,800
down €17,800 (-37.1%), from €47,991 to €30,192
- Financial charges +€3,789
up €3,789 (+167%), from €2,272 to €6,061
- Financial income +€2,205
new in 2025: €2,205
- Other operating charges -€2,031
down €2,031 (-94.4%), from €2,151 to €120
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 | €331,931 | €386,421 | +€54,489 | +16.4% |
| Fixed assets | 21/28 | €49,220 | €79,715 | +€30,495 | +62.0% |
| Tangible fixed assets | 22/27 | €9,220 | €7,715 | -€1,505 | -16.3% |
| Plant, machinery and equipment | 23 | €1,398 | €605 | -€793 | -56.7% |
| Furniture and vehicles | 24 | €7,823 | €7,111 | -€712 | -9.1% |
| Financial fixed assets | 28 | €40,000 | €72,000 | +€32,000 | +80.0% |
| Current assets | 29/58 | €282,711 | €306,705 | +€23,994 | +8.5% |
| Amounts receivable within one year | 40/41 | €13,038 | €25,293 | +€12,255 | +94.0% |
| Trade receivables | 40 | €12,155 | €13,062 | +€907 | +7.5% |
| Other amounts receivable | 41 | €883 | €12,231 | +€11,348 | +1,286% |
| Cash at bank and in hand | 54/58 | €242,367 | €261,177 | +€18,810 | +7.8% |
| Deferred charges and accrued income | 490/1 | €27,306 | €20,235 | -€7,071 | -25.9% |
| Total equity and liabilities | 10/49 | €331,931 | €386,421 | +€54,489 | +16.4% |
| Equity | 10/15 | €320,056 | €381,308 | +€61,252 | +19.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €301,456 | €362,708 | +€61,252 | +20.3% |
| Distributable reserves | 133 | €301,456 | €362,708 | +€61,252 | +20.3% |
| Amounts payable | 17/49 | €11,875 | €5,113 | -€6,762 | -56.9% |
| Amounts payable within one year | 42/48 | €11,776 | €5,113 | -€6,663 | -56.6% |
| Trade debts | 44 | €2,760 | €2,231 | -€529 | -19.2% |
| Suppliers | 440/4 | €2,760 | €2,231 | -€529 | -19.2% |
| Taxes, remuneration and social security | 45 | €7,350 | €1,215 | -€6,135 | -83.5% |
| Taxes | 450/3 | €6,142 | - | -€6,142 | |
| Remuneration and social security | 454/9 | €1,208 | €1,215 | +€8 | +0.6% |
| Other amounts payable | 47/48 | €1,666 | €1,666 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €99 | - | -€99 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,503 | €3,918 | +€1,415 | +56.5% |
| Other operating charges | 640/8 | €2,151 | €120 | -€2,031 | -94.4% |
| Gross operating margin | 9900 | €147,569 | €101,003 | -€46,565 | -31.6% |
| Operating profit (loss) | 9901 | €142,914 | €96,965 | -€45,949 | -32.2% |
| Financial income | 75/76B | - | €2,205 | +€2,205 | |
| Recurring financial income | 75 | - | €2,205 | +€2,205 | |
| Financial charges | 65/66B | €2,272 | €6,061 | +€3,789 | +167% |
| Recurring financial charges | 65 | €2,272 | €6,061 | +€3,789 | +167% |
| Profit (loss) for the period before taxes | 9903 | €140,642 | €93,109 | -€47,533 | -33.8% |
| Income taxes | 67/77 | €47,991 | €30,192 | -€17,800 | -37.1% |
| Profit (loss) for the period | 9904 | €92,651 | €62,918 | -€29,733 | -32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €92,651 | €62,918 | -€29,733 | -32.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.