Quo Vadis?: what changed
What changed
Quo Vadis?
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
-€42,805
2024 · -€18,323-€24,482
Equity
€295,041
2024 · €337,846-€42,805
Cash
€6,503
2024 · €67,552-€61,048
Balance sheet total
€1.4m
2024 · €1.5m-€92,901
Largest movements
Assets
- Cash -€61,048
down €61,048 (-90.4%), from €67,552 to €6,503
mainly Investment in fixed assets (net) (-€44,899) and Debts after one year (-€43,890)
- Tangible fixed assets -€36,176
down €36,176 (-3.0%), from €1.2m to €1.2m
Equity and liabilities
- Debts after one year -€43,890
down €43,890 (-4.6%), from €962,455 to €918,565
- Reserves -€42,805
down €42,805 (-13.2%), from €325,446 to €282,641
of which Distributable reserves: -€38,738
Income statement
- Depreciation +€19,681
up €19,681 (+32.1%), from €61,394 to €81,076
- Financial charges +€5,770
up €5,770 (+15.3%), from €37,595 to €43,365
- Gross operating margin +€4,566
up €4,566 (+6.0%), from €76,045 to €80,611
- Financial income -€3,090
down €3,090 (-33.2%), from €9,320 to €6,230
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.
Result 2024
-€18,323
Gross operating margin
+€4,566
Depreciation
-€19,681
Other operating charges
-€179
Financial income
-€3,090
Financial charges
-€5,770
Taxes
-€328
Result 2025
-€42,805
raises the resultlowers the result
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.
From operations
+€25,667
Investment
-€44,899
Financing
-€41,816
Cash 2024
€67,552
From operations (derived)
+€25,667
Net result for the year
-€42,805
Depreciation
+€81,076
Receivables within one year
+€1,048
Deferred charges and accrued income
-€5,372
Provisions
-€1,356
Smaller working-capital items
-€266
Other debts
-€7,666
Accrued charges and deferred income
+€1,009
Investment (derived)
-€44,899
Investment in fixed assets (net)
-€44,899
Financing
-€41,816
Debts after one year
-€43,890
Current portion of long-term debt
+€2,074
Cash 2025
€6,503
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,482,829 | €1,389,928 | -€92,901 | -6.3% |
| Fixed assets | 21/28 | €1,197,083 | €1,160,906 | -€36,176 | -3.0% |
| Tangible fixed assets | 22/27 | €1,197,083 | €1,160,906 | -€36,176 | -3.0% |
| Land and buildings | 22 | €1,197,083 | €1,160,906 | -€36,176 | -3.0% |
| Current assets | 29/58 | €285,746 | €229,022 | -€56,724 | -19.9% |
| Amounts receivable within one year | 40/41 | €47,735 | €46,687 | -€1,048 | -2.2% |
| Trade receivables | 40 | €4,062 | €1,165 | -€2,897 | -71.3% |
| Other amounts receivable | 41 | €43,672 | €45,522 | +€1,849 | +4.2% |
| Current investments | 50/53 | €154,945 | €154,945 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €67,552 | €6,503 | -€61,048 | -90.4% |
| Deferred charges and accrued income | 490/1 | €15,514 | €20,886 | +€5,372 | +34.6% |
| Total equity and liabilities | 10/49 | €1,482,829 | €1,389,928 | -€92,901 | -6.3% |
| Equity | 10/15 | €337,846 | €295,041 | -€42,805 | -12.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €325,446 | €282,641 | -€42,805 | -13.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,986 | €33,918 | -€4,067 | -10.7% |
| Distributable reserves | 133 | €285,601 | €246,863 | -€38,738 | -13.6% |
| Provisions and deferred taxes | 16 | €12,662 | €11,306 | -€1,356 | -10.7% |
| Deferred taxes | 168 | €12,662 | €11,306 | -€1,356 | -10.7% |
| Amounts payable | 17/49 | €1,132,321 | €1,083,581 | -€48,740 | -4.3% |
| Amounts payable after more than one year | 17 | €962,455 | €918,565 | -€43,890 | -4.6% |
| Financial debts | 170/4 | €962,455 | €918,565 | -€43,890 | -4.6% |
| Amounts payable within one year | 42/48 | €165,614 | €159,756 | -€5,858 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €44,849 | €46,923 | +€2,074 | +4.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,916 | €1,807 | -€109 | -5.7% |
| Suppliers | 440/4 | €1,916 | €1,807 | -€109 | -5.7% |
| Taxes, remuneration and social security | 45 | €258 | €100 | -€158 | -61.2% |
| Taxes | 450/3 | €258 | €100 | -€158 | -61.2% |
| Other amounts payable | 47/48 | €118,592 | €110,926 | -€7,666 | -6.5% |
| Accrued charges and deferred income | 492/3 | €4,251 | €5,260 | +€1,009 | +23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,394 | €81,076 | +€19,681 | +32.1% |
| Other operating charges | 640/8 | €6,054 | €6,234 | +€179 | +3.0% |
| Gross operating margin | 9900 | €76,045 | €80,611 | +€4,566 | +6.0% |
| Operating profit (loss) | 9901 | €8,597 | -€6,698 | -€15,294 | |
| Financial income | 75/76B | €9,320 | €6,230 | -€3,090 | -33.2% |
| Recurring financial income | 75 | €9,320 | €6,230 | -€3,090 | -33.2% |
| Financial charges | 65/66B | €37,595 | €43,365 | +€5,770 | +15.3% |
| Recurring financial charges | 65 | €37,595 | €43,365 | +€5,770 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | -€19,679 | -€43,833 | -€24,154 | -123% |
| Transfer from deferred taxes | 780 | €1,356 | €1,356 | +€0 | 0.0% |
| Income taxes | 67/77 | €0 | €328 | +€328 | |
| Profit (loss) for the period | 9904 | -€18,323 | -€42,805 | -€24,482 | -134% |
| Transfer from tax-exempt reserves | 789 | €4,067 | €4,067 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,256 | -€38,738 | -€24,482 | -172% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.