The Quint: 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.
The Quint
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+13.6%), from €11.1m to €12.6m
of which Assets under construction and advance payments: +€1.5m
- Cash +€385,953
new in 2025: €385,953
mainly Contributions, distributions and other (+€10.5m) and Accrued charges and deferred income (+€339,605)
- Contributions +€10.5m
up €10.5m (+102%), from €10.3m to €20.8m
- Debts after one year -€8.9m
down €8.9m (-41.7%), from €21.3m to €12.4m
- Accrued charges and deferred income +€339,605
new in 2025: €339,605
- Financial charges -€1.3m
no longer reported in 2025 (was €1.3m)
- Gross operating margin +€232,987
up €232,987 (+99.2%), from -€234,811 to -€1,825
- Depreciation -€44,780
no longer reported in 2025 (was €44,780)
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 | €11,119,407 | €13,088,412 | +€2.0m | +17.7% |
| Fixed assets | 21/28 | €11,115,160 | €12,621,265 | +€1.5m | +13.6% |
| Tangible fixed assets | 22/27 | €11,115,160 | €12,621,265 | +€1.5m | +13.6% |
| Land and buildings | 22 | €10,200,000 | €10,200,000 | = | 0.0% |
| Assets under construction and advance payments | 27 | €915,160 | €2,421,265 | +€1.5m | +165% |
| Current assets | 29/58 | €4,247 | €467,148 | +€462,900 | +10,898% |
| Amounts receivable within one year | 40/41 | €4,247 | €81,195 | +€76,948 | +1,812% |
| Other amounts receivable | 41 | €4,247 | €81,195 | +€76,948 | +1,812% |
| Cash at bank and in hand | 54/58 | - | €385,953 | +€385,953 | |
| Total equity and liabilities | 10/49 | €11,119,407 | €13,088,412 | +€2.0m | +17.7% |
| Equity | 10/15 | -€10,159,167 | €296,807 | +€10.5m | |
| Contributions | 10/11 | €10,300,000 | €20,759,100 | +€10.5m | +102% |
| Profit (loss) carried forward | 14 | -€20,459,167 | -€20,462,293 | -€3,125 | 0.0% |
| Amounts payable | 17/49 | €21,278,575 | €12,791,605 | -€8.5m | -39.9% |
| Amounts payable after more than one year | 17 | €21,258,276 | €12,402,437 | -€8.9m | -41.7% |
| Financial debts | 170/4 | €21,258,276 | €12,402,437 | -€8.9m | -41.7% |
| Amounts payable within one year | 42/48 | €20,299 | €49,563 | +€29,264 | +144% |
| Trade debts | 44 | €20,299 | €49,563 | +€29,264 | +144% |
| Suppliers | 440/4 | €20,299 | €49,563 | +€29,264 | +144% |
| Accrued charges and deferred income | 492/3 | - | €339,605 | +€339,605 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,780 | - | -€44,780 | |
| Other operating charges | 640/8 | €1,183 | €1,498 | +€315 | +26.6% |
| Gross operating margin | 9900 | -€234,811 | -€1,825 | +€232,987 | +99.2% |
| Operating profit (loss) | 9901 | -€280,774 | -€3,323 | +€277,451 | +98.8% |
| Financial income | 75/76B | - | €197 | +€197 | |
| Recurring financial income | 75 | - | €197 | +€197 | |
| Financial charges | 65/66B | €1,302,973 | - | -€1.3m | |
| Recurring financial charges | 65 | €1,302,973 | - | -€1.3m | |
| Profit (loss) for the period before taxes | 9903 | -€1,583,747 | -€3,125 | +€1.6m | +99.8% |
| Profit (loss) for the period | 9904 | -€1,583,747 | -€3,125 | +€1.6m | +99.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,583,747 | -€3,125 | +€1.6m | +99.8% |
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.