T & Q Estates: 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.
T & Q Estates
Largest movements
- Tangible fixed assets +€149,594
up €149,594 (+47.4%), from €315,319 to €464,913
of which Land and buildings: +€147,028
- Cash -€13,321
down €13,321 (-34.0%), from €39,220 to €25,899
mainly Investment in fixed assets (net) (-€190,805) and Debts after one year (-€51,828)
- Trade debts +€180,952
up €180,952 (+5,695%), from €3,177 to €184,129
- Debts after one year -€51,828
down €51,828 (-23.5%), from €220,321 to €168,493
of which Financial debts: -€51,828
- Profit (loss) carried forward +€6,774
up €6,774 (+25.8%), from -€26,210 to -€19,436
- Gross operating margin -€15,591
down €15,591 (-21.6%), from €72,197 to €56,606
- Other operating charges -€3,692
no longer reported in 2025 (was €3,692)
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 | €359,064 | €492,001 | +€132,936 | +37.0% |
| Fixed assets | 21/28 | €315,319 | €464,913 | +€149,594 | +47.4% |
| Tangible fixed assets | 22/27 | €315,319 | €464,913 | +€149,594 | +47.4% |
| Land and buildings | 22 | €299,861 | €446,888 | +€147,028 | +49.0% |
| Plant, machinery and equipment | 23 | €14,781 | €10,239 | -€4,542 | -30.7% |
| Furniture and vehicles | 24 | €677 | €7,785 | +€7,108 | +1,049% |
| Current assets | 29/58 | €43,745 | €27,088 | -€16,657 | -38.1% |
| Amounts receivable within one year | 40/41 | €1,543 | - | -€1,543 | |
| Trade receivables | 40 | €1,543 | - | -€1,543 | |
| Cash at bank and in hand | 54/58 | €39,220 | €25,899 | -€13,321 | -34.0% |
| Deferred charges and accrued income | 490/1 | €2,983 | €1,189 | -€1,794 | -60.1% |
| Total equity and liabilities | 10/49 | €359,064 | €492,001 | +€132,936 | +37.0% |
| Equity | 10/15 | €74,790 | €81,564 | +€6,774 | +9.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,000 | €1,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Legal reserve | 130 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,210 | -€19,436 | +€6,774 | +25.8% |
| Amounts payable | 17/49 | €284,274 | €410,436 | +€126,162 | +44.4% |
| Amounts payable after more than one year | 17 | €220,321 | €168,493 | -€51,828 | -23.5% |
| Financial debts | 170/4 | €180,321 | €128,493 | -€51,828 | -28.7% |
| Other amounts payable | 178/9 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €60,454 | €237,313 | +€176,859 | +293% |
| Current portion of amounts payable after more than one year | 42 | €55,988 | €51,828 | -€4,161 | -7.4% |
| Trade debts | 44 | €3,177 | €184,129 | +€180,952 | +5,695% |
| Suppliers | 440/4 | €3,177 | €184,129 | +€180,952 | +5,695% |
| Taxes, remuneration and social security | 45 | €1,226 | €1,309 | +€83 | +6.7% |
| Taxes | 450/3 | €1,226 | €1,309 | +€83 | +6.7% |
| Other amounts payable | 47/48 | €62 | €47 | -€15 | -24.1% |
| Accrued charges and deferred income | 492/3 | €3,500 | €4,631 | +€1,131 | +32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,089 | €41,211 | +€122 | +0.3% |
| Other operating charges | 640/8 | €3,692 | - | -€3,692 | |
| Gross operating margin | 9900 | €72,197 | €56,606 | -€15,591 | -21.6% |
| Operating profit (loss) | 9901 | €27,416 | €15,395 | -€12,021 | -43.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €8,994 | €8,620 | -€374 | -4.2% |
| Recurring financial charges | 65 | €8,994 | €8,620 | -€374 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €18,422 | €6,774 | -€11,647 | -63.2% |
| Profit (loss) for the period | 9904 | €18,422 | €6,774 | -€11,647 | -63.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,422 | €6,774 | -€11,647 | -63.2% |
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 19 October 2026 via checked.be.