QURV: what changed
Two fiscal 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.
QURV
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Cash -€41,544
down €41,544 (-25.1%), from €165,836 to €124,292
mainly Investment in fixed assets (net) (-€61,745) and Current investments (-€50,000)
- Tangible fixed assets +€8,987
up €8,987 (+2.0%), from €441,253 to €450,240
of which Furniture and vehicles: +€24,454
- Other debts +€47,163
up €47,163 (+29.0%), from €162,508 to €209,671
- Reserves -€16,030
down €16,030 (-3.9%), from €405,997 to €389,967
of which Distributable reserves: -€16,030
- Debts after one year -€10,201
down €10,201 (-40.3%), from €25,304 to €15,103
- Depreciation +€5,823
up €5,823 (+12.4%), from €46,934 to €52,757
- Gross operating margin +€5,168
up €5,168 (+13.4%), from €38,618 to €43,786
- Other operating charges +€1,421
up €1,421 (+41.8%), from €3,403 to €4,824
- Financial income +€1,159
up €1,159, from €0 to €1,159
- Financial charges -€976
down €976 (-44.6%), from €2,190 to €1,214
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 | €652,138 | €674,238 | +€22,100 | +3.4% |
| Fixed assets | 21/28 | €441,253 | €450,240 | +€8,987 | +2.0% |
| Tangible fixed assets | 22/27 | €441,253 | €450,240 | +€8,987 | +2.0% |
| Land and buildings | 22 | €333,315 | €314,011 | -€19,304 | -5.8% |
| Plant, machinery and equipment | 23 | €6,897 | €10,734 | +€3,837 | +55.6% |
| Furniture and vehicles | 24 | €101,041 | €125,495 | +€24,454 | +24.2% |
| Current assets | 29/58 | €210,885 | €223,998 | +€13,112 | +6.2% |
| Amounts receivable within one year | 40/41 | €45,049 | €49,705 | +€4,656 | +10.3% |
| Trade receivables | 40 | €41,967 | €48,148 | +€6,182 | +14.7% |
| Other amounts receivable | 41 | €3,083 | €1,557 | -€1,526 | -49.5% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €165,836 | €124,292 | -€41,544 | -25.1% |
| Total equity and liabilities | 10/49 | €652,138 | €674,238 | +€22,100 | +3.4% |
| Equity | 10/15 | €424,597 | €408,567 | -€16,030 | -3.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €405,997 | €389,967 | -€16,030 | -3.9% |
| 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 | €404,137 | €388,107 | -€16,030 | -4.0% |
| Amounts payable | 17/49 | €227,542 | €265,671 | +€38,129 | +16.8% |
| Amounts payable after more than one year | 17 | €25,304 | €15,103 | -€10,201 | -40.3% |
| Financial debts | 170/4 | €25,304 | €15,103 | -€10,201 | -40.3% |
| Amounts payable within one year | 42/48 | €201,987 | €250,318 | +€48,331 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €9,836 | €10,201 | +€365 | +3.7% |
| Trade debts | 44 | €13,564 | €15,021 | +€1,457 | +10.7% |
| Suppliers | 440/4 | €13,564 | €15,021 | +€1,457 | +10.7% |
| Taxes, remuneration and social security | 45 | €16,079 | €15,425 | -€654 | -4.1% |
| Taxes | 450/3 | €16,079 | €15,425 | -€654 | -4.1% |
| Other amounts payable | 47/48 | €162,508 | €209,671 | +€47,163 | +29.0% |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,591 | €1,689 | +€98 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,934 | €52,757 | +€5,823 | +12.4% |
| Other operating charges | 640/8 | €3,403 | €4,824 | +€1,421 | +41.8% |
| Non-recurring operating charges | 66A | - | €48 | +€48 | |
| Gross operating margin | 9900 | €38,618 | €43,786 | +€5,168 | +13.4% |
| Operating profit (loss) | 9901 | -€13,310 | -€15,532 | -€2,222 | -16.7% |
| Financial income | 75/76B | €0 | €1,159 | +€1,159 | |
| Recurring financial income | 75 | €0 | €1,159 | +€1,159 | |
| Financial charges | 65/66B | €2,190 | €1,214 | -€976 | -44.6% |
| Recurring financial charges | 65 | €2,190 | €1,214 | -€976 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | -€15,500 | -€15,587 | -€87 | -0.6% |
| Income taxes | 67/77 | €417 | €443 | +€26 | +6.1% |
| Profit (loss) for the period | 9904 | -€15,917 | -€16,030 | -€113 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,917 | -€16,030 | -€113 | -0.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.