High Square: what changed
High Square
Largest movements
- Receivables within one year +€11,703
up €11,703 (+19.3%), from €60,715 to €72,418
- Cash -€11,426
down €11,426 (-51.5%), from €22,197 to €10,772
mainly Investment in fixed assets (net) (-€17,987) and Trade debts (-€15,585)
- Tangible fixed assets +€2,688
up €2,688 (+7.8%), from €34,603 to €37,290
of which Furniture and vehicles: +€7,449
- Trade debts -€15,585
down €15,585 (-80.6%), from €19,338 to €3,752
- Debts after one year +€7,351
up €7,351 (+371%), from €1,981 to €9,332
- Reserves +€6,900
up €6,900 (+11.1%), from €62,000 to €68,900
- Current portion of long-term debt +€4,228
new in 2025: €4,228
- Staff costs +€12,416
up €12,416 (+41.3%), from €30,085 to €42,501
- Gross operating margin -€8,817
down €8,817 (-10.4%), from €84,508 to €75,691
- Taxes -€7,379
down €7,379 (-57.4%), from €12,860 to €5,481
- Depreciation +€5,771
up €5,771 (+60.6%), from €9,529 to €15,300
- Financial income +€1,167
up €1,167 (+46.2%), from €2,528 to €3,695
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 | €128,540 | €130,938 | +€2,398 | +1.9% |
| Fixed assets | 21/28 | €40,603 | €43,290 | +€2,688 | +6.6% |
| Tangible fixed assets | 22/27 | €34,603 | €37,290 | +€2,688 | +7.8% |
| Plant, machinery and equipment | 23 | €13,508 | €9,529 | -€3,979 | -29.5% |
| Furniture and vehicles | 24 | €16,851 | €24,300 | +€7,449 | +44.2% |
| Other tangible fixed assets | 26 | €4,244 | €3,461 | -€783 | -18.4% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €87,938 | €87,648 | -€290 | -0.3% |
| Stocks and contracts in progress | 3 | €5,026 | €4,458 | -€567 | -11.3% |
| Stocks | 30/36 | €5,026 | €4,458 | -€567 | -11.3% |
| Amounts receivable within one year | 40/41 | €60,715 | €72,418 | +€11,703 | +19.3% |
| Other amounts receivable | 41 | €60,715 | €72,418 | +€11,703 | +19.3% |
| Cash at bank and in hand | 54/58 | €22,197 | €10,772 | -€11,426 | -51.5% |
| Total equity and liabilities | 10/49 | €128,540 | €130,938 | +€2,398 | +1.9% |
| Equity | 10/15 | €81,239 | €88,198 | +€6,959 | +8.6% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €62,000 | €68,900 | +€6,900 | +11.1% |
| Distributable reserves | 133 | €62,000 | €68,900 | +€6,900 | +11.1% |
| Profit (loss) carried forward | 14 | €1,239 | €1,298 | +€59 | +4.8% |
| Amounts payable | 17/49 | €47,301 | €42,740 | -€4,562 | -9.6% |
| Amounts payable after more than one year | 17 | €1,981 | €9,332 | +€7,351 | +371% |
| Financial debts | 170/4 | €1,981 | €9,332 | +€7,351 | +371% |
| Amounts payable within one year | 42/48 | €45,320 | €33,407 | -€11,913 | -26.3% |
| Current portion of amounts payable after more than one year | 42 | - | €4,228 | +€4,228 | |
| Trade debts | 44 | €19,338 | €3,752 | -€15,585 | -80.6% |
| Suppliers | 440/4 | €19,338 | €3,752 | -€15,585 | -80.6% |
| Taxes, remuneration and social security | 45 | €25,983 | €25,427 | -€556 | -2.1% |
| Taxes | 450/3 | €21,459 | €18,757 | -€2,701 | -12.6% |
| Remuneration and social security | 454/9 | €4,524 | €6,669 | +€2,145 | +47.4% |
| Remuneration, social security and pensions | 62 | €30,085 | €42,501 | +€12,416 | +41.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,529 | €15,300 | +€5,771 | +60.6% |
| Other operating charges | 640/8 | €3,567 | €3,817 | +€250 | +7.0% |
| Non-recurring operating charges | 66A | - | €3,913 | +€3,913 | |
| Gross operating margin | 9900 | €84,508 | €75,691 | -€8,817 | -10.4% |
| Operating profit (loss) | 9901 | €41,326 | €10,160 | -€31,166 | -75.4% |
| Financial income | 75/76B | €2,528 | €3,695 | +€1,167 | +46.2% |
| Recurring financial income | 75 | €2,528 | €3,695 | +€1,167 | +46.2% |
| Financial charges | 65/66B | €287 | €1,415 | +€1,128 | +393% |
| Recurring financial charges | 65 | €287 | €1,415 | +€1,128 | +393% |
| Profit (loss) for the period before taxes | 9903 | €43,567 | €12,440 | -€31,127 | -71.4% |
| Income taxes | 67/77 | €12,860 | €5,481 | -€7,379 | -57.4% |
| Profit (loss) for the period | 9904 | €30,708 | €6,959 | -€23,748 | -77.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,708 | €6,959 | -€23,748 | -77.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.