T-QUEST: 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-QUEST
Largest movements
- Tangible fixed assets +€25,312
up €25,312 (+9.7%), from €260,022 to €285,334
of which Furniture and vehicles: +€33,006
- Cash -€4,220
down €4,220 (-12.0%), from €35,277 to €31,057
mainly Contributions, distributions and other (-€47,300) and Investment in fixed assets (net) (-€44,008)
- Reserves +€72,588
new in 2025: €72,588
- Profit (loss) carried forward -€63,784
down €63,784 (-100%), from €63,784 to €0
- Other debts +€31,388
up €31,388 (+3,200%), from €981 to €32,369
- Debts after one year -€12,000
down €12,000 (-5.5%), from €220,000 to €208,000
- Tax, wage and social debts -€4,435
down €4,435 (-74.7%), from €5,937 to €1,503
- Gross operating margin +€52,329
up €52,329 (+114%), from €45,952 to €98,281
- Taxes +€10,197
up €10,197 (+191%), from €5,331 to €15,528
- Depreciation +€4,864
up €4,864 (+35.2%), from €13,832 to €18,696
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 | €308,029 | €332,590 | +€24,561 | +8.0% |
| Fixed assets | 21/28 | €260,022 | €285,334 | +€25,312 | +9.7% |
| Tangible fixed assets | 22/27 | €260,022 | €285,334 | +€25,312 | +9.7% |
| Land and buildings | 22 | €231,130 | €220,763 | -€10,366 | -4.5% |
| Plant, machinery and equipment | 23 | €5,527 | €8,199 | +€2,672 | +48.3% |
| Furniture and vehicles | 24 | €23,365 | €56,372 | +€33,006 | +141% |
| Current assets | 29/58 | €48,007 | €47,256 | -€751 | -1.6% |
| Amounts receivable within one year | 40/41 | €12,215 | €14,266 | +€2,052 | +16.8% |
| Trade receivables | 40 | €10,989 | €13,298 | +€2,309 | +21.0% |
| Other amounts receivable | 41 | €1,226 | €969 | -€257 | -21.0% |
| Cash at bank and in hand | 54/58 | €35,277 | €31,057 | -€4,220 | -12.0% |
| Deferred charges and accrued income | 490/1 | €516 | €1,933 | +€1,417 | +275% |
| Total equity and liabilities | 10/49 | €308,029 | €332,590 | +€24,561 | +8.0% |
| Equity | 10/15 | €66,784 | €75,588 | +€8,804 | +13.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €72,588 | +€72,588 | |
| Distributable reserves | 133 | - | €72,588 | +€72,588 | |
| Profit (loss) carried forward | 14 | €63,784 | €0 | -€63,784 | -100% |
| Amounts payable | 17/49 | €241,245 | €257,002 | +€15,757 | +6.5% |
| Amounts payable after more than one year | 17 | €220,000 | €208,000 | -€12,000 | -5.5% |
| Financial debts | 170/4 | €220,000 | €208,000 | -€12,000 | -5.5% |
| Amounts payable within one year | 42/48 | €19,240 | €47,232 | +€27,992 | +145% |
| Current portion of amounts payable after more than one year | 42 | €12,000 | €12,000 | = | 0.0% |
| Trade debts | 44 | €322 | €1,361 | +€1,039 | +323% |
| Suppliers | 440/4 | €322 | €1,361 | +€1,039 | +323% |
| Taxes, remuneration and social security | 45 | €5,937 | €1,503 | -€4,435 | -74.7% |
| Taxes | 450/3 | €5,937 | €1,503 | -€4,435 | -74.7% |
| Other amounts payable | 47/48 | €981 | €32,369 | +€31,388 | +3,200% |
| Accrued charges and deferred income | 492/3 | €2,005 | €1,770 | -€235 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,832 | €18,696 | +€4,864 | +35.2% |
| Other operating charges | 640/8 | €3,454 | €2,496 | -€958 | -27.7% |
| Gross operating margin | 9900 | €45,952 | €98,281 | +€52,329 | +114% |
| Operating profit (loss) | 9901 | €28,666 | €77,088 | +€48,423 | +169% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €5,826 | €5,457 | -€369 | -6.3% |
| Recurring financial charges | 65 | €5,826 | €5,457 | -€369 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €22,840 | €71,631 | +€48,792 | +214% |
| Income taxes | 67/77 | €5,331 | €15,528 | +€10,197 | +191% |
| Profit (loss) for the period | 9904 | €17,509 | €56,104 | +€38,595 | +220% |
| Profit (loss) for the period to be appropriated | 9905 | €17,509 | €56,104 | +€38,595 | +220% |
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 15 October 2026 via checked.be.