SQRE: 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.
SQRE
Largest movements
- Tangible fixed assets +€21,502
up €21,502 (+26.7%), from €80,634 to €102,136
of which Furniture and vehicles: +€22,717
- Cash -€19,360
down €19,360 (-99.9%), from €19,382 to €22
mainly Investment in fixed assets (net) (-€48,043) and Net result for the year (-€35,221)
- Receivables within one year -€15,822
down €15,822 (-13.8%), from €114,518 to €98,696
of which Other amounts receivable: -€9,676
- Profit (loss) carried forward -€35,221
down €35,221 (-1309.0%), from -€2,691 to -€37,911
- Other debts -€24,410
down €24,410 (-51.4%), from €47,455 to €23,044
- Trade debts +€24,004
up €24,004 (+76.0%), from €31,568 to €55,572
- Debts after one year +€13,167
up €13,167 (+86.2%), from €15,268 to €28,436
- Current portion of long-term debt +€8,273
up €8,273 (+75.0%), from €11,032 to €19,305
- Gross operating margin -€36,377
down €36,377 (-24.1%), from €151,178 to €114,801
- Taxes -€3,250
down €3,250 (-83.6%), from €3,888 to €638
- Depreciation -€2,430
down €2,430 (-8.4%), from €28,971 to €26,541
- Other operating charges +€2,106
up €2,106 (+15.1%), from €13,938 to €16,043
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 | €218,545 | €204,230 | -€14,315 | -6.6% |
| Fixed assets | 21/28 | €80,634 | €102,136 | +€21,502 | +26.7% |
| Tangible fixed assets | 22/27 | €80,634 | €102,136 | +€21,502 | +26.7% |
| Land and buildings | 22 | €20,128 | €20,055 | -€73 | -0.4% |
| Plant, machinery and equipment | 23 | €10,659 | €9,517 | -€1,142 | -10.7% |
| Furniture and vehicles | 24 | €49,847 | €72,564 | +€22,717 | +45.6% |
| Current assets | 29/58 | €137,911 | €102,094 | -€35,817 | -26.0% |
| Amounts receivable within one year | 40/41 | €114,518 | €98,696 | -€15,822 | -13.8% |
| Trade receivables | 40 | €104,192 | €98,046 | -€6,146 | -5.9% |
| Other amounts receivable | 41 | €10,326 | €650 | -€9,676 | -93.7% |
| Cash at bank and in hand | 54/58 | €19,382 | €22 | -€19,360 | -99.9% |
| Deferred charges and accrued income | 490/1 | €4,011 | €3,377 | -€634 | -15.8% |
| Total equity and liabilities | 10/49 | €218,545 | €204,230 | -€14,315 | -6.6% |
| Equity | 10/15 | €75,581 | €40,361 | -€35,221 | -46.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €72,072 | €72,072 | = | 0.0% |
| Distributable reserves | 133 | €72,072 | €72,072 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,691 | -€37,911 | -€35,221 | -1309.0% |
| Amounts payable | 17/49 | €142,964 | €163,870 | +€20,906 | +14.6% |
| Amounts payable after more than one year | 17 | €15,268 | €28,436 | +€13,167 | +86.2% |
| Financial debts | 170/4 | €15,268 | €28,436 | +€13,167 | +86.2% |
| Amounts payable within one year | 42/48 | €127,695 | €135,434 | +€7,739 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €11,032 | €19,305 | +€8,273 | +75.0% |
| Financial debts | 43 | - | €2,880 | +€2,880 | |
| Credit institutions | 430/8 | - | €2,880 | +€2,880 | |
| Trade debts | 44 | €31,568 | €55,572 | +€24,004 | +76.0% |
| Suppliers | 440/4 | €31,568 | €55,572 | +€24,004 | +76.0% |
| Taxes, remuneration and social security | 45 | €37,641 | €34,633 | -€3,009 | -8.0% |
| Taxes | 450/3 | €18,431 | €6,372 | -€12,058 | -65.4% |
| Remuneration and social security | 454/9 | €19,211 | €28,261 | +€9,050 | +47.1% |
| Other amounts payable | 47/48 | €47,455 | €23,044 | -€24,410 | -51.4% |
| Non-recurring operating income | 76A | €2,244 | €1,487 | -€757 | -33.7% |
| Remuneration, social security and pensions | 62 | €102,074 | €103,312 | +€1,238 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,971 | €26,541 | -€2,430 | -8.4% |
| Other operating charges | 640/8 | €13,938 | €16,043 | +€2,106 | +15.1% |
| Non-recurring operating charges | 66A | €254 | €571 | +€318 | +125.2% |
| Gross operating margin | 9900 | €151,178 | €114,801 | -€36,377 | -24.1% |
| Operating profit (loss) | 9901 | €5,942 | -€31,667 | -€37,608 | |
| Financial income | 75/76B | €385 | €291 | -€94 | -24.4% |
| Recurring financial income | 75 | €385 | €291 | -€94 | -24.4% |
| Financial charges | 65/66B | €2,079 | €3,207 | +€1,129 | +54.3% |
| Recurring financial charges | 65 | €2,079 | €3,207 | +€1,129 | +54.3% |
| Profit (loss) for the period before taxes | 9903 | €4,248 | -€34,583 | -€38,831 | |
| Income taxes | 67/77 | €3,888 | €638 | -€3,250 | -83.6% |
| Profit (loss) for the period | 9904 | €360 | -€35,221 | -€35,580 | |
| Profit (loss) for the period to be appropriated | 9905 | €360 | -€35,221 | -€35,580 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.