R-Squared Solutions: 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.
R-Squared Solutions
Largest movements
- Tangible fixed assets +€43,884
up €43,884 (+11.4%), from €383,537 to €427,421
of which Land and buildings: +€45,409
- Receivables within one year +€18,491
up €18,491 (+248.0%), from €7,457 to €25,947
of which Trade receivables: +€17,316
- Cash +€14,118
up €14,118 (+49.2%), from €28,690 to €42,808
mainly Net result for the year (+€47,504) and Debts after one year (+€28,641)
- Current investments +€7,500
up €7,500 (+73.2%), from €10,250 to €17,750
- Reserves +€47,504
up €47,504 (+23.2%), from €204,844 to €252,348
of which Distributable reserves: +€47,504
- Debts after one year +€28,641
up €28,641 (+16.9%), from €169,863 to €198,504
- Current portion of long-term debt +€5,905
up €5,905 (+20.8%), from €28,434 to €34,339
- Gross operating margin +€32,983
up €32,983 (+49.6%), from €66,500 to €99,483
- Taxes +€8,528
up €8,528 (+85.4%), from €9,984 to €18,512
- Depreciation +€2,078
up €2,078 (+9.1%), from €22,937 to €25,015
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €431,814 | €515,421 | +€83,607 | +19.4% |
| Fixed assets | 21/28 | €383,537 | €427,421 | +€43,884 | +11.4% |
| Tangible fixed assets | 22/27 | €383,537 | €427,421 | +€43,884 | +11.4% |
| Land and buildings | 22 | €378,283 | €423,692 | +€45,409 | +12.0% |
| Furniture and vehicles | 24 | €5,254 | €3,729 | -€1,525 | -29.0% |
| Current assets | 29/58 | €48,277 | €88,001 | +€39,724 | +82.3% |
| Amounts receivable within one year | 40/41 | €7,457 | €25,947 | +€18,491 | +248.0% |
| Trade receivables | 40 | €6,280 | €23,595 | +€17,316 | +275.7% |
| Other amounts receivable | 41 | €1,177 | €2,352 | +€1,175 | +99.9% |
| Current investments | 50/53 | €10,250 | €17,750 | +€7,500 | +73.2% |
| Cash at bank and in hand | 54/58 | €28,690 | €42,808 | +€14,118 | +49.2% |
| Deferred charges and accrued income | 490/1 | €1,880 | €1,495 | -€385 | -20.5% |
| Total equity and liabilities | 10/49 | €431,814 | €515,421 | +€83,607 | +19.4% |
| Equity | 10/15 | €217,244 | €264,748 | +€47,504 | +21.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €204,844 | €252,348 | +€47,504 | +23.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €204,844 | €252,348 | +€47,504 | +23.2% |
| Amounts payable | 17/49 | €214,570 | €250,674 | +€36,104 | +16.8% |
| Amounts payable after more than one year | 17 | €169,863 | €198,504 | +€28,641 | +16.9% |
| Financial debts | 170/4 | €169,863 | €198,504 | +€28,641 | +16.9% |
| Amounts payable within one year | 42/48 | €44,707 | €52,170 | +€7,463 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €28,434 | €34,339 | +€5,905 | +20.8% |
| Financial debts | 43 | €110 | €384 | +€274 | +249.5% |
| Credit institutions | 430/8 | €110 | €0 | -€110 | -100.0% |
| Other loans | 439 | - | €384 | +€384 | |
| Trade debts | 44 | €5,336 | €7,430 | +€2,095 | +39.3% |
| Suppliers | 440/4 | €5,336 | €7,430 | +€2,095 | +39.3% |
| Taxes, remuneration and social security | 45 | €9,598 | €9,049 | -€549 | -5.7% |
| Taxes | 450/3 | €8,040 | €8,490 | +€451 | +5.6% |
| Remuneration and social security | 454/9 | €1,558 | €559 | -€999 | -64.1% |
| Other amounts payable | 47/48 | €1,230 | €967 | -€262 | -21.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,937 | €25,015 | +€2,078 | +9.1% |
| Other operating charges | 640/8 | €1,402 | €1,739 | +€337 | +24.1% |
| Gross operating margin | 9900 | €66,500 | €99,483 | +€32,983 | +49.6% |
| Operating profit (loss) | 9901 | €42,162 | €72,729 | +€30,567 | +72.5% |
| Financial income | 75/76B | €2 | €76 | +€74 | +3959.4% |
| Recurring financial income | 75 | €2 | €76 | +€74 | +3959.4% |
| Financial charges | 65/66B | €6,887 | €6,789 | -€98 | -1.4% |
| Recurring financial charges | 65 | €6,887 | €6,789 | -€98 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €35,276 | €66,016 | +€30,739 | +87.1% |
| Income taxes | 67/77 | €9,984 | €18,512 | +€8,528 | +85.4% |
| Profit (loss) for the period | 9904 | €25,292 | €47,504 | +€22,212 | +87.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,292 | €47,504 | +€22,212 | +87.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.