RSQUARE: 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.
RSQUARE
Largest movements
- Current investments -€353,000
no longer reported in 2025 (was €353,000)
- Cash +€127,545
up €127,545 (+58.4%), from €218,496 to €346,041
mainly Current investments (+€353,000) and Other debts (+€257,008)
- Receivables within one year +€43,776
up €43,776 (+7.6%), from €578,895 to €622,671
of which Other amounts receivable: +€173,208
- Tangible fixed assets +€16,549
up €16,549 (+27.0%), from €61,294 to €77,843
of which Furniture and vehicles: +€20,836
- Reserves -€264,017
down €264,017 (-70.8%), from €372,684 to €108,668
of which Distributable reserves: -€264,017
- Other debts +€257,008
new in 2025: €257,008
- Trade debts -€149,692
down €149,692 (-24.3%), from €616,216 to €466,523
- Financial income -€5,235
down €5,235 (-60.8%), from €8,611 to €3,375
- Gross operating margin -€4,010
down €4,010 (-4.6%), from €87,620 to €83,611
- Financial charges -€1,572
down €1,572 (-42.9%), from €3,663 to €2,091
- Depreciation +€1,496
up €1,496 (+9.8%), from €15,224 to €16,720
- Other operating charges -€1,308
down €1,308 (-70.4%), from €1,858 to €551
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 | €1,220,893 | €1,056,323 | -€164,570 | -13.5% |
| Fixed assets | 21/28 | €64,894 | €83,320 | +€18,427 | +28.4% |
| Tangible fixed assets | 22/27 | €61,294 | €77,843 | +€16,549 | +27.0% |
| Plant, machinery and equipment | 23 | €15,410 | €12,766 | -€2,644 | -17.2% |
| Furniture and vehicles | 24 | €42,040 | €62,876 | +€20,836 | +49.6% |
| Other tangible fixed assets | 26 | €3,844 | €2,201 | -€1,643 | -42.8% |
| Financial fixed assets | 28 | €3,600 | €5,478 | +€1,878 | +52.2% |
| Current assets | 29/58 | €1,155,999 | €973,002 | -€182,997 | -15.8% |
| Amounts receivable within one year | 40/41 | €578,895 | €622,671 | +€43,776 | +7.6% |
| Trade receivables | 40 | €432,159 | €302,727 | -€129,432 | -30.0% |
| Other amounts receivable | 41 | €146,736 | €319,944 | +€173,208 | +118% |
| Current investments | 50/53 | €353,000 | - | -€353,000 | |
| Cash at bank and in hand | 54/58 | €218,496 | €346,041 | +€127,545 | +58.4% |
| Deferred charges and accrued income | 490/1 | €5,608 | €4,290 | -€1,318 | -23.5% |
| Total equity and liabilities | 10/49 | €1,220,893 | €1,056,323 | -€164,570 | -13.5% |
| Equity | 10/15 | €556,667 | €292,651 | -€264,017 | -47.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €372,684 | €108,668 | -€264,017 | -70.8% |
| 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 | €370,824 | €106,808 | -€264,017 | -71.2% |
| Profit (loss) carried forward | 14 | €165,383 | €165,383 | = | 0.0% |
| Amounts payable | 17/49 | €664,226 | €763,672 | +€99,446 | +15.0% |
| Amounts payable after more than one year | 17 | €22,307 | €12,205 | -€10,102 | -45.3% |
| Financial debts | 170/4 | €22,307 | €12,205 | -€10,102 | -45.3% |
| Amounts payable within one year | 42/48 | €641,919 | €751,467 | +€109,548 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €14,781 | €14,921 | +€141 | +1.0% |
| Trade debts | 44 | €616,216 | €466,523 | -€149,692 | -24.3% |
| Suppliers | 440/4 | €616,216 | €466,523 | -€149,692 | -24.3% |
| Taxes, remuneration and social security | 45 | €10,923 | €13,015 | +€2,092 | +19.2% |
| Taxes | 450/3 | €3,155 | €2,499 | -€656 | -20.8% |
| Remuneration and social security | 454/9 | €7,767 | €10,515 | +€2,748 | +35.4% |
| Other amounts payable | 47/48 | - | €257,008 | +€257,008 | |
| Remuneration, social security and pensions | 62 | €46,200 | €45,031 | -€1,169 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,224 | €16,720 | +€1,496 | +9.8% |
| Other operating charges | 640/8 | €1,858 | €551 | -€1,308 | -70.4% |
| Gross operating margin | 9900 | €87,620 | €83,611 | -€4,010 | -4.6% |
| Operating profit (loss) | 9901 | €24,338 | €21,309 | -€3,029 | -12.4% |
| Financial income | 75/76B | €8,611 | €3,375 | -€5,235 | -60.8% |
| Recurring financial income | 75 | €8,611 | €3,375 | -€5,235 | -60.8% |
| Financial charges | 65/66B | €3,663 | €2,091 | -€1,572 | -42.9% |
| Recurring financial charges | 65 | €3,663 | €2,091 | -€1,572 | -42.9% |
| Profit (loss) for the period before taxes | 9903 | €29,285 | €22,593 | -€6,692 | -22.9% |
| Income taxes | 67/77 | €9,763 | €10,038 | +€275 | +2.8% |
| Profit (loss) for the period | 9904 | €19,522 | €12,555 | -€6,967 | -35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,522 | €12,555 | -€6,967 | -35.7% |
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 17 October 2026 via checked.be.