S-KWADRAAT: what changed
What changed
S-KWADRAAT
NACE 73.300, Public relations and communication consultancy
filed annual accounts (NBB)
Net result for the year
€48,108
2024 · €10,621+€37,488
Equity
€95,726
2024 · €57,757+€37,969
Cash
€67,698
2024 · €32,726+€34,972
Balance sheet total
€132,136
2024 · €77,096+€55,040
Largest movements
Assets
- Cash +€34,972
up €34,972 (+107%), from €32,726 to €67,698
mainly Net result for the year (+€48,108) and Tax, wage and social debts (+€18,023)
- Receivables within one year +€13,966
up €13,966 (+67.7%), from €20,640 to €34,606
of which Trade receivables: +€14,173
- Receivables after one year +€13,000
new in 2025: €13,000
- Tangible fixed assets -€6,133
down €6,133 (-40.5%), from €15,146 to €9,013
Equity and liabilities
- Reserves +€37,969
up €37,969 (+97.0%), from €39,157 to €77,126
- Tax, wage and social debts +€18,023
up €18,023 (+547%), from €3,294 to €21,317
of which Taxes: +€14,423
- Other debts +€5,205
up €5,205 (+105%), from €4,945 to €10,149
- Trade debts -€3,527
down €3,527 (-56.5%), from €6,237 to €2,710
- Debts after one year -€1,616
down €1,616 (-100%), from €1,616 to €0
Income statement
- Gross operating margin +€51,890
up €51,890 (+205%), from €25,257 to €77,147
- Taxes +€13,843
up €13,843 (+238%), from €5,811 to €19,654
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.
Result 2024
€10,621
Gross operating margin
+€51,890
Staff costs
-€63
Depreciation
+€287
Other operating charges
-€505
Financial income
+€299
Financial charges
-€578
Taxes
-€13,843
Result 2025
€48,108
raises the resultlowers the result
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.
From operations
+€47,741
Investment
€0
Financing
-€12,769
Cash 2024
€32,726
From operations (derived)
+€47,741
Net result for the year
+€48,108
Depreciation
+€6,133
Receivables after one year
-€13,000
Receivables within one year
-€13,966
Deferred charges and accrued income
+€765
Trade debts
-€3,527
Tax, wage and social debts
+€18,023
Other debts
+€5,205
Financing
-€12,769
Debts after one year
-€1,616
Current portion of long-term debt
-€1,513
Short-term financial debts
+€499
Contributions, distributions and other
-€10,139
Cash 2025
€67,698
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €77,096 | €132,136 | +€55,040 | +71.4% |
| Fixed assets | 21/28 | €15,146 | €9,013 | -€6,133 | -40.5% |
| Tangible fixed assets | 22/27 | €15,146 | €9,013 | -€6,133 | -40.5% |
| Land and buildings | 22 | €4,864 | €2,548 | -€2,316 | -47.6% |
| Plant, machinery and equipment | 23 | €1,118 | €359 | -€759 | -67.9% |
| Furniture and vehicles | 24 | €9,164 | €6,106 | -€3,058 | -33.4% |
| Current assets | 29/58 | €61,951 | €123,124 | +€61,173 | +98.7% |
| Amounts receivable after more than one year | 29 | - | €13,000 | +€13,000 | |
| Other amounts receivable | 291 | - | €13,000 | +€13,000 | |
| Stocks and contracts in progress | 3 | €7,820 | €7,820 | = | 0.0% |
| Stocks | 30/36 | €7,820 | €7,820 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €20,640 | €34,606 | +€13,966 | +67.7% |
| Trade receivables | 40 | €20,295 | €34,469 | +€14,173 | +69.8% |
| Other amounts receivable | 41 | €344 | €137 | -€207 | -60.2% |
| Cash at bank and in hand | 54/58 | €32,726 | €67,698 | +€34,972 | +107% |
| Deferred charges and accrued income | 490/1 | €765 | €0 | -€765 | -100% |
| Total equity and liabilities | 10/49 | €77,096 | €132,136 | +€55,040 | +71.4% |
| Equity | 10/15 | €57,757 | €95,726 | +€37,969 | +65.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,157 | €77,126 | +€37,969 | +97.0% |
| Distributable reserves | 133 | €39,157 | €77,126 | +€37,969 | +97.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €19,339 | €36,410 | +€17,071 | +88.3% |
| Amounts payable after more than one year | 17 | €1,616 | €0 | -€1,616 | -100% |
| Financial debts | 170/4 | €1,616 | €0 | -€1,616 | -100% |
| Amounts payable within one year | 42/48 | €17,724 | €36,410 | +€18,686 | +105% |
| Current portion of amounts payable after more than one year | 42 | €3,129 | €1,616 | -€1,513 | -48.4% |
| Financial debts | 43 | €119 | €618 | +€499 | +418% |
| Credit institutions | 430/8 | €119 | €618 | +€499 | +418% |
| Trade debts | 44 | €6,237 | €2,710 | -€3,527 | -56.5% |
| Suppliers | 440/4 | €6,237 | €2,710 | -€3,527 | -56.5% |
| Taxes, remuneration and social security | 45 | €3,294 | €21,317 | +€18,023 | +547% |
| Taxes | 450/3 | €3,294 | €17,717 | +€14,423 | +438% |
| Remuneration and social security | 454/9 | - | €3,600 | +€3,600 | |
| Other amounts payable | 47/48 | €4,945 | €10,149 | +€5,205 | +105% |
| Non-recurring operating income | 76A | €14,299 | €0 | -€14,299 | -100% |
| Remuneration, social security and pensions | 62 | €418 | €480 | +€63 | +15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,420 | €6,133 | -€287 | -4.5% |
| Other operating charges | 640/8 | €1,298 | €1,803 | +€505 | +38.9% |
| Gross operating margin | 9900 | €25,257 | €77,147 | +€51,890 | +205% |
| Operating profit (loss) | 9901 | €17,122 | €68,730 | +€51,609 | +301% |
| Financial income | 75/76B | €123 | €422 | +€299 | +243% |
| Recurring financial income | 75 | €123 | €422 | +€299 | +243% |
| Financial charges | 65/66B | €813 | €1,390 | +€578 | +71.1% |
| Recurring financial charges | 65 | €813 | €1,390 | +€578 | +71.1% |
| Profit (loss) for the period before taxes | 9903 | €16,432 | €67,762 | +€51,330 | +312% |
| Income taxes | 67/77 | €5,811 | €19,654 | +€13,843 | +238% |
| Profit (loss) for the period | 9904 | €10,621 | €48,108 | +€37,488 | +353% |
| Profit (loss) for the period to be appropriated | 9905 | €10,621 | €48,108 | +€37,488 | +353% |
Next steps
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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 2 November 2026 via checked.be.