SA carré: 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.
SA carré
Largest movements
- Tangible fixed assets -€34,405
down €34,405 (-19.3%), from €178,490 to €144,084
of which Other tangible fixed assets: -€20,813
- Receivables within one year +€24,214
up €24,214 (+17.4%), from €138,953 to €163,166
of which Trade receivables: +€20,321
- Cash -€6,688
down €6,688 (-52.4%), from €12,756 to €6,068
mainly Net result for the year (-€48,311) and Trade debts (-€34,412)
- Advances received +€55,991
up €55,991 (+226.7%), from €24,699 to €80,690
- Profit (loss) carried forward -€48,311
down €48,311 (-22.3%), from -€216,659 to -€264,969
- Trade debts -€34,412
down €34,412 (-35.6%), from €96,717 to €62,305
- Debts after one year -€13,939
down €13,939 (-14.5%), from €96,061 to €82,122
- Other debts +€13,900
up €13,900 (+4.8%), from €287,118 to €301,018
- Gross operating margin -€35,508
down €35,508, from €34,035 to -€1,473
- Financial charges +€4,976
up €4,976 (+96.2%), from €5,174 to €10,150
- Other operating charges +€1,128
new in 2025: €1,128
- Depreciation -€945
down €945 (-2.6%), from €36,133 to €35,189
- Taxes +€343
up €343 (+764.9%), from €45 to €387
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 | €330,274 | €313,394 | -€16,880 | -5.1% |
| Fixed assets | 21/28 | €178,565 | €144,159 | -€34,405 | -19.3% |
| Tangible fixed assets | 22/27 | €178,490 | €144,084 | -€34,405 | -19.3% |
| Furniture and vehicles | 24 | €25,124 | €11,532 | -€13,592 | -54.1% |
| Other tangible fixed assets | 26 | €153,366 | €132,553 | -€20,813 | -13.6% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €151,709 | €169,235 | +€17,526 | +11.6% |
| Amounts receivable within one year | 40/41 | €138,953 | €163,166 | +€24,214 | +17.4% |
| Trade receivables | 40 | €136,819 | €157,140 | +€20,321 | +14.9% |
| Other amounts receivable | 41 | €2,134 | €6,027 | +€3,893 | +182.4% |
| Cash at bank and in hand | 54/58 | €12,756 | €6,068 | -€6,688 | -52.4% |
| Total equity and liabilities | 10/49 | €330,274 | €313,394 | -€16,880 | -5.1% |
| Equity | 10/15 | -€196,659 | -€244,969 | -€48,311 | -24.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€216,659 | -€264,969 | -€48,311 | -22.3% |
| Amounts payable | 17/49 | €526,933 | €558,364 | +€31,431 | +6.0% |
| Amounts payable after more than one year | 17 | €96,061 | €82,122 | -€13,939 | -14.5% |
| Financial debts | 170/4 | €96,061 | €82,122 | -€13,939 | -14.5% |
| Amounts payable within one year | 42/48 | €424,872 | €462,520 | +€37,648 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €16,236 | €15,197 | -€1,039 | -6.4% |
| Trade debts | 44 | €96,717 | €62,305 | -€34,412 | -35.6% |
| Suppliers | 440/4 | €96,717 | €62,305 | -€34,412 | -35.6% |
| Advances received on contracts in progress | 46 | €24,699 | €80,690 | +€55,991 | +226.7% |
| Taxes, remuneration and social security | 45 | €102 | €3,310 | +€3,208 | +3154.8% |
| Taxes | 450/3 | €102 | €3,310 | +€3,208 | +3154.8% |
| Other amounts payable | 47/48 | €287,118 | €301,018 | +€13,900 | +4.8% |
| Accrued charges and deferred income | 492/3 | €6,000 | €13,722 | +€7,722 | +128.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,133 | €35,189 | -€945 | -2.6% |
| Other operating charges | 640/8 | - | €1,128 | +€1,128 | |
| Gross operating margin | 9900 | €34,035 | -€1,473 | -€35,508 | |
| Operating profit (loss) | 9901 | -€2,098 | -€37,789 | -€35,692 | -1701.4% |
| Financial income | 75/76B | €0 | €16 | +€16 | +162800.0% |
| Recurring financial income | 75 | €0 | €16 | +€16 | +162800.0% |
| Financial charges | 65/66B | €5,174 | €10,150 | +€4,976 | +96.2% |
| Recurring financial charges | 65 | €5,174 | €10,150 | +€4,976 | +96.2% |
| Profit (loss) for the period before taxes | 9903 | -€7,272 | -€47,923 | -€40,652 | -559.0% |
| Income taxes | 67/77 | €45 | €387 | +€343 | +764.9% |
| Profit (loss) for the period | 9904 | -€7,317 | -€48,311 | -€40,994 | -560.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,317 | -€48,311 | -€40,994 | -560.3% |
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 11 October 2026 via checked.be.