QUORUM: what changed
QUORUM
Largest movements
- Cash -€332,710
down €332,710 (-95.4%), from €348,602 to €15,892
mainly Contributions, distributions and other (-€244,490) and Net result for the year (-€227,740)
- Tangible fixed assets -€249,494
down €249,494 (-33.2%), from €750,429 to €500,935
of which Land and buildings: -€245,321
- Receivables within one year +€98,845
up €98,845 (+78.1%), from €126,483 to €225,328
of which Other amounts receivable: +€91,963
- Stocks and contracts +€27,108
up €27,108 (+38.1%), from €71,143 to €98,251
- Revaluation surpluses -€244,490
down €244,490 (-56.5%), from €433,022 to €188,532
- Reserves -€227,740
down €227,740 (-39.8%), from €571,653 to €343,913
of which Distributable reserves: -€212,247
- Trade debts +€15,185
up €15,185 (+21.9%), from €69,380 to €84,565
- Gross operating margin -€1.3m
down €1.3m, from €1.2m to -€89,153
- Taxes -€118,602
down €118,602 (-99.4%), from €119,321 to €719
- Staff costs -€109,851
down €109,851 (-46.0%), from €238,871 to €129,021
- Financial charges -€14,714
down €14,714 (-74.1%), from €19,861 to €5,147
- Other operating charges -€12,058
down €12,058 (-68.3%), from €17,644 to €5,586
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,298,169 | €842,408 | -€455,761 | -35.1% |
| Fixed assets | 21/28 | €751,942 | €502,448 | -€249,494 | -33.2% |
| Tangible fixed assets | 22/27 | €750,429 | €500,935 | -€249,494 | -33.2% |
| Land and buildings | 22 | €739,362 | €494,041 | -€245,321 | -33.2% |
| Plant, machinery and equipment | 23 | €3,275 | €2,563 | -€712 | -21.7% |
| Furniture and vehicles | 24 | €7,792 | €4,331 | -€3,461 | -44.4% |
| Financial fixed assets | 28 | €1,512 | €1,512 | = | 0.0% |
| Current assets | 29/58 | €546,227 | €339,961 | -€206,267 | -37.8% |
| Stocks and contracts in progress | 3 | €71,143 | €98,251 | +€27,108 | +38.1% |
| Stocks | 30/36 | €71,143 | €98,251 | +€27,108 | +38.1% |
| Amounts receivable within one year | 40/41 | €126,483 | €225,328 | +€98,845 | +78.1% |
| Trade receivables | 40 | €7,938 | €14,820 | +€6,882 | +86.7% |
| Other amounts receivable | 41 | €118,545 | €210,508 | +€91,963 | +77.6% |
| Cash at bank and in hand | 54/58 | €348,602 | €15,892 | -€332,710 | -95.4% |
| Deferred charges and accrued income | 490/1 | €0 | €489 | +€489 | |
| Total equity and liabilities | 10/49 | €1,298,169 | €842,408 | -€455,761 | -35.1% |
| Equity | 10/15 | €1,209,859 | €737,628 | -€472,231 | -39.0% |
| Contributions | 10/11 | €205,183 | €205,183 | = | 0.0% |
| Revaluation surpluses | 12 | €433,022 | €188,532 | -€244,490 | -56.5% |
| Reserves | 13 | €571,653 | €343,913 | -€227,740 | -39.8% |
| Non-distributable reserves | 130/1 | €15,493 | €0 | -€15,493 | -100% |
| Reserves not available under the articles | 1311 | €15,493 | €0 | -€15,493 | -100% |
| Distributable reserves | 133 | €556,160 | €343,913 | -€212,247 | -38.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €88,311 | €104,780 | +€16,470 | +18.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €87,675 | €104,145 | +€16,470 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €69,380 | €84,565 | +€15,185 | +21.9% |
| Suppliers | 440/4 | €69,380 | €84,565 | +€15,185 | +21.9% |
| Taxes, remuneration and social security | 45 | €18,295 | €19,580 | +€1,284 | +7.0% |
| Taxes | 450/3 | €6,202 | €4,666 | -€1,536 | -24.8% |
| Remuneration and social security | 454/9 | €12,093 | €14,913 | +€2,821 | +23.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €635 | €635 | = | 0.0% |
| Non-recurring operating income | 76A | €1,329,912 | €0 | -€1.3m | -100% |
| Remuneration, social security and pensions | 62 | €238,871 | €129,021 | -€109,851 | -46.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,949 | €5,004 | -€5,945 | -54.3% |
| Other operating charges | 640/8 | €17,644 | €5,586 | -€12,058 | -68.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,176,702 | -€89,153 | -€1.3m | |
| Operating profit (loss) | 9901 | €909,238 | -€228,764 | -€1.1m | |
| Financial income | 75/76B | €1,495 | €6,890 | +€5,395 | +361% |
| Recurring financial income | 75 | €1,495 | €6,890 | +€5,395 | +361% |
| Financial charges | 65/66B | €19,861 | €5,147 | -€14,714 | -74.1% |
| Recurring financial charges | 65 | €19,861 | €5,147 | -€14,714 | -74.1% |
| Profit (loss) for the period before taxes | 9903 | €890,872 | -€227,021 | -€1.1m | |
| Income taxes | 67/77 | €119,321 | €719 | -€118,602 | -99.4% |
| Profit (loss) for the period | 9904 | €771,551 | -€227,740 | -€999,291 | |
| Profit (loss) for the period to be appropriated | 9905 | €771,551 | -€227,740 | -€999,291 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.