SQU4RE: 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.
SQU4RE
Largest movements
- Cash +€36,908
up €36,908 (+335%), from €11,016 to €47,924
mainly Other debts (+€62,170) and Net result for the year (+€33,183)
- Tangible fixed assets -€4,759
down €4,759 (-32.3%), from €14,725 to €9,966
of which Furniture and vehicles: -€4,319
- Receivables within one year -€850
down €850 (-3.9%), from €21,804 to €20,954
of which Trade receivables: -€5,278
- Reserves -€62,951
down €62,951 (-98.4%), from €64,000 to €1,049
- Other debts +€62,170
up €62,170 (+3,398%), from €1,830 to €64,000
- Profit (loss) carried forward +€32,135
up €32,135, from -€32,135 to €0
- Gross operating margin +€88,035
up €88,035, from -€49,037 to €38,998
- Financial charges -€4,607
down €4,607 (-96.5%), from €4,776 to €169
of which Non-recurring financial charges: -€4,568
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 | €47,545 | €78,844 | +€31,299 | +65.8% |
| Fixed assets | 21/28 | €14,725 | €9,966 | -€4,759 | -32.3% |
| Tangible fixed assets | 22/27 | €14,725 | €9,966 | -€4,759 | -32.3% |
| Plant, machinery and equipment | 23 | €1,406 | €966 | -€440 | -31.3% |
| Furniture and vehicles | 24 | €13,320 | €9,000 | -€4,319 | -32.4% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €32,820 | €68,878 | +€36,058 | +110% |
| Amounts receivable within one year | 40/41 | €21,804 | €20,954 | -€850 | -3.9% |
| Trade receivables | 40 | €13,581 | €8,303 | -€5,278 | -38.9% |
| Other amounts receivable | 41 | €8,223 | €12,651 | +€4,428 | +53.8% |
| Cash at bank and in hand | 54/58 | €11,016 | €47,924 | +€36,908 | +335% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €47,545 | €78,844 | +€31,299 | +65.8% |
| Equity | 10/15 | €44,265 | €13,449 | -€30,817 | -69.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €64,000 | €1,049 | -€62,951 | -98.4% |
| Distributable reserves | 133 | €64,000 | €1,049 | -€62,951 | -98.4% |
| Profit (loss) carried forward | 14 | -€32,135 | €0 | +€32,135 | |
| Amounts payable | 17/49 | €3,280 | €65,395 | +€62,115 | +1,894% |
| Amounts payable within one year | 42/48 | €3,280 | €65,395 | +€62,115 | +1,894% |
| Trade debts | 44 | €1,450 | €1,166 | -€283 | -19.6% |
| Suppliers | 440/4 | €1,450 | €1,166 | -€283 | -19.6% |
| Taxes, remuneration and social security | 45 | €0 | €229 | +€229 | |
| Taxes | 450/3 | €0 | €229 | +€229 | |
| Other amounts payable | 47/48 | €1,830 | €64,000 | +€62,170 | +3,398% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,583 | €4,759 | +€177 | +3.9% |
| Other operating charges | 640/8 | €887 | €866 | -€20 | -2.3% |
| Gross operating margin | 9900 | -€49,037 | €38,998 | +€88,035 | |
| Operating profit (loss) | 9901 | -€54,507 | €33,372 | +€87,879 | |
| Financial income | 75/76B | €0 | €209 | +€209 | |
| Recurring financial income | 75 | €0 | €209 | +€209 | |
| Financial charges | 65/66B | €4,776 | €169 | -€4,607 | -96.5% |
| Recurring financial charges | 65 | €208 | €169 | -€39 | -18.6% |
| Non-recurring financial charges | 66B | €4,568 | €0 | -€4,568 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€59,283 | €33,412 | +€92,695 | |
| Income taxes | 67/77 | €201 | €229 | +€28 | +13.8% |
| Profit (loss) for the period | 9904 | -€59,484 | €33,183 | +€92,667 | |
| Profit (loss) for the period to be appropriated | 9905 | -€59,484 | €33,183 | +€92,667 |
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 15 October 2026 via checked.be.