I-SQUARE: what changed
Two fiscal 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.
I-SQUARE
Largest movements
- Cash -€60,411
down €60,411 (-42.4%), from €142,503 to €82,092
mainly Trade debts (-€35,354) and Tax, wage and social debts (-€23,664)
- Receivables within one year -€8,157
down €8,157 (-9.3%), from €88,000 to €79,843
of which Trade receivables: -€15,729
- Trade debts -€35,354
down €35,354 (-89.8%), from €39,373 to €4,019
- Tax, wage and social debts -€23,664
down €23,664 (-33.2%), from €71,218 to €47,554
- Other debts -€11,475
down €11,475 (-41.0%), from €28,000 to €16,525
- Gross operating margin -€50,261
down €50,261 (-64.0%), from €78,549 to €28,288
- Taxes -€12,010
down €12,010 (-57.4%), from €20,909 to €8,900
- Financial income +€892
up €892 (+62.5%), from €1,426 to €2,318
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.
Cash bridge derived
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 | €230,504 | €161,935 | -€68,568 | -29.7% |
| Current assets | 29/58 | €230,504 | €161,935 | -€68,568 | -29.7% |
| Amounts receivable within one year | 40/41 | €88,000 | €79,843 | -€8,157 | -9.3% |
| Trade receivables | 40 | €49,010 | €33,281 | -€15,729 | -32.1% |
| Other amounts receivable | 41 | €38,991 | €46,563 | +€7,572 | +19.4% |
| Cash at bank and in hand | 54/58 | €142,503 | €82,092 | -€60,411 | -42.4% |
| Total equity and liabilities | 10/49 | €230,504 | €161,935 | -€68,568 | -29.7% |
| Equity | 10/15 | €91,912 | €93,838 | +€1,925 | +2.1% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €79,517 | €81,443 | +€1,925 | +2.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €77,657 | €79,583 | +€1,925 | +2.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €138,591 | €68,098 | -€70,494 | -50.9% |
| Amounts payable within one year | 42/48 | €138,591 | €68,098 | -€70,494 | -50.9% |
| Trade debts | 44 | €39,373 | €4,019 | -€35,354 | -89.8% |
| Suppliers | 440/4 | €39,373 | €4,019 | -€35,354 | -89.8% |
| Taxes, remuneration and social security | 45 | €71,218 | €47,554 | -€23,664 | -33.2% |
| Taxes | 450/3 | €71,218 | €47,554 | -€23,664 | -33.2% |
| Other amounts payable | 47/48 | €28,000 | €16,525 | -€11,475 | -41.0% |
| Other operating charges | 640/8 | €1,875 | €1,740 | -€135 | -7.2% |
| Gross operating margin | 9900 | €78,549 | €28,288 | -€50,261 | -64.0% |
| Operating profit (loss) | 9901 | €76,674 | €26,548 | -€50,126 | -65.4% |
| Financial income | 75/76B | €1,426 | €2,318 | +€892 | +62.5% |
| Recurring financial income | 75 | €1,426 | €2,318 | +€892 | +62.5% |
| Financial charges | 65/66B | €723 | €368 | -€355 | -49.1% |
| Recurring financial charges | 65 | €723 | €368 | -€355 | -49.1% |
| Profit (loss) for the period before taxes | 9903 | €77,378 | €28,498 | -€48,879 | -63.2% |
| Income taxes | 67/77 | €20,909 | €8,900 | -€12,010 | -57.4% |
| Profit (loss) for the period | 9904 | €56,468 | €19,599 | -€36,870 | -65.3% |
| Profit (loss) for the period to be appropriated | 9905 | €56,468 | €19,599 | -€36,870 | -65.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.