SouthQuest: 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.
SouthQuest
Largest movements
- Current investments +€111,512
up €111,512 (+108%), from €103,488 to €215,000
- Cash -€70,464
down €70,464 (-91.7%), from €76,873 to €6,409
mainly Current investments (-€111,512) and Receivables within one year (-€4,119)
- Receivables within one year +€4,119
up €4,119 (+7.6%), from €54,423 to €58,542
of which Other amounts receivable: +€5,625
- Profit (loss) carried forward +€44,531
up €44,531 (+15.7%), from -€283,886 to -€239,355
- Gross operating margin -€7,975
down €7,975 (-11.4%), from €69,901 to €61,926
- Financial income -€1,962
down €1,962 (-39.2%), from €5,002 to €3,040
- Taxes -€1,872
down €1,872 (-12.4%), from €15,152 to €13,280
- Depreciation -€1,337
down €1,337 (-23.5%), from €5,686 to €4,348
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 | €253,899 | €295,271 | +€41,372 | +16.3% |
| Fixed assets | 21/28 | €11,464 | €9,159 | -€2,305 | -20.1% |
| Intangible fixed assets | 21 | €1,464 | €1,082 | -€382 | -26.1% |
| Tangible fixed assets | 22/27 | €10,000 | €8,077 | -€1,923 | -19.2% |
| Furniture and vehicles | 24 | €10,000 | €8,077 | -€1,923 | -19.2% |
| Current assets | 29/58 | €242,435 | €286,111 | +€43,676 | +18.0% |
| Amounts receivable within one year | 40/41 | €54,423 | €58,542 | +€4,119 | +7.6% |
| Trade receivables | 40 | €26,925 | €25,419 | -€1,506 | -5.6% |
| Other amounts receivable | 41 | €27,498 | €33,123 | +€5,625 | +20.5% |
| Current investments | 50/53 | €103,488 | €215,000 | +€111,512 | +108% |
| Cash at bank and in hand | 54/58 | €76,873 | €6,409 | -€70,464 | -91.7% |
| Deferred charges and accrued income | 490/1 | €7,651 | €6,160 | -€1,491 | -19.5% |
| Total equity and liabilities | 10/49 | €253,899 | €295,271 | +€41,372 | +16.3% |
| Equity | 10/15 | €245,589 | €290,120 | +€44,531 | +18.1% |
| Contributions | 10/11 | €370,643 | €370,643 | = | 0.0% |
| Reserves | 13 | €158,832 | €158,832 | = | 0.0% |
| Distributable reserves | 133 | €158,832 | €158,832 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€283,886 | -€239,355 | +€44,531 | +15.7% |
| Amounts payable | 17/49 | €8,310 | €5,150 | -€3,160 | -38.0% |
| Amounts payable within one year | 42/48 | €8,310 | €5,150 | -€3,160 | -38.0% |
| Trade debts | 44 | €3,499 | €2,077 | -€1,421 | -40.6% |
| Suppliers | 440/4 | €3,499 | €2,077 | -€1,421 | -40.6% |
| Taxes, remuneration and social security | 45 | €4,373 | €2,947 | -€1,425 | -32.6% |
| Taxes | 450/3 | €4,373 | €2,947 | -€1,425 | -32.6% |
| Other amounts payable | 47/48 | €439 | €126 | -€313 | -71.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,686 | €4,348 | -€1,337 | -23.5% |
| Other operating charges | 640/8 | €1,999 | €2,099 | +€100 | +5.0% |
| Non-recurring operating charges | 66A | €335,318 | €0 | -€335,318 | -100% |
| Gross operating margin | 9900 | €69,901 | €61,926 | -€7,975 | -11.4% |
| Operating profit (loss) | 9901 | -€273,102 | €55,479 | +€328,581 | |
| Financial income | 75/76B | €5,002 | €3,040 | -€1,962 | -39.2% |
| Recurring financial income | 75 | €5,002 | €3,040 | -€1,962 | -39.2% |
| Financial charges | 65/66B | €634 | €707 | +€73 | +11.4% |
| Recurring financial charges | 65 | €634 | €707 | +€73 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | -€268,734 | €57,812 | +€326,546 | |
| Income taxes | 67/77 | €15,152 | €13,280 | -€1,872 | -12.4% |
| Profit (loss) for the period | 9904 | -€283,886 | €44,531 | +€328,418 | |
| Profit (loss) for the period to be appropriated | 9905 | -€283,886 | €44,531 | +€328,418 |
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 23 October 2026 via checked.be.