SQUADRA: 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.
SQUADRA
Largest movements
- Tangible fixed assets -€8,410
down €8,410 (-31.6%), from €26,640 to €18,230
of which Furniture and vehicles: -€7,010
- Cash +€7,325
up €7,325 (+23.6%), from €31,085 to €38,410
mainly Depreciation (+€8,410) and Tax, wage and social debts (+€2,432)
- Current portion of long-term debt -€5,433
down €5,433 (-91.6%), from €5,929 to €496
- Tax, wage and social debts +€2,432
up €2,432 (+253.6%), from €959 to €3,391
- Reserves +€2,284
up €2,284 (+8.4%), from €27,286 to €29,570
of which Distributable reserves: +€2,284
- Gross operating margin +€8,232
up €8,232 (+106.3%), from €7,744 to €15,976
- Taxes +€2,209
up €2,209 (+180.3%), from €1,225 to €3,434
- Depreciation -€417
down €417 (-4.7%), from €8,827 to €8,410
- Staff costs +€296
up €296 (+62.0%), from €477 to €773
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 | €69,407 | €68,417 | -€990 | -1.4% |
| Fixed assets | 21/28 | €26,640 | €18,230 | -€8,410 | -31.6% |
| Tangible fixed assets | 22/27 | €26,640 | €18,230 | -€8,410 | -31.6% |
| Plant, machinery and equipment | 23 | €3,610 | €2,210 | -€1,400 | -38.8% |
| Furniture and vehicles | 24 | €23,031 | €16,020 | -€7,010 | -30.4% |
| Current assets | 29/58 | €42,767 | €50,187 | +€7,420 | +17.4% |
| Amounts receivable within one year | 40/41 | €11,682 | €11,777 | +€95 | +0.8% |
| Trade receivables | 40 | €9,479 | €10,353 | +€875 | +9.2% |
| Other amounts receivable | 41 | €2,203 | €1,424 | -€779 | -35.4% |
| Cash at bank and in hand | 54/58 | €31,085 | €38,410 | +€7,325 | +23.6% |
| Total equity and liabilities | 10/49 | €69,407 | €68,417 | -€990 | -1.4% |
| Equity | 10/15 | €45,370 | €47,654 | +€2,284 | +5.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €27,286 | €29,570 | +€2,284 | +8.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €25,427 | €27,711 | +€2,284 | +9.0% |
| Profit (loss) carried forward | 14 | -€508 | -€508 | = | 0.0% |
| Amounts payable | 17/49 | €24,037 | €20,763 | -€3,274 | -13.6% |
| Amounts payable after more than one year | 17 | €496 | - | -€496 | |
| Financial debts | 170/4 | €496 | - | -€496 | |
| Amounts payable within one year | 42/48 | €23,541 | €20,763 | -€2,778 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €5,929 | €496 | -€5,433 | -91.6% |
| Trade debts | 44 | €16,653 | €16,876 | +€223 | +1.3% |
| Suppliers | 440/4 | €16,653 | €16,876 | +€223 | +1.3% |
| Taxes, remuneration and social security | 45 | €959 | €3,391 | +€2,432 | +253.6% |
| Taxes | 450/3 | €959 | €3,391 | +€2,432 | +253.6% |
| Remuneration, social security and pensions | 62 | €477 | €773 | +€296 | +62.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,827 | €8,410 | -€417 | -4.7% |
| Other operating charges | 640/8 | €973 | €935 | -€38 | -3.9% |
| Gross operating margin | 9900 | €7,744 | €15,976 | +€8,232 | +106.3% |
| Operating profit (loss) | 9901 | -€2,534 | €5,857 | +€8,391 | |
| Financial income | 75/76B | €50 | €142 | +€92 | +182.9% |
| Recurring financial income | 75 | €50 | €142 | +€92 | +182.9% |
| Financial charges | 65/66B | €439 | €282 | -€157 | -35.7% |
| Recurring financial charges | 65 | €439 | €282 | -€157 | -35.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,922 | €5,718 | +€8,640 | |
| Income taxes | 67/77 | €1,225 | €3,434 | +€2,209 | +180.3% |
| Profit (loss) for the period | 9904 | -€4,147 | €2,284 | +€6,431 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,147 | €2,284 | +€6,431 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.