SQUAIRE: 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.
SQUAIRE
Largest movements
- Current investments +€252,146
up €252,146 (+26.8%), from €941,332 to €1.2m
- Cash -€43,212
down €43,212 (-78.1%), from €55,356 to €12,144
mainly Current investments (-€252,146) and Contributions, distributions and other (-€147,368)
- Other debts +€149,456
up €149,456 (+1,932%), from €7,735 to €157,191
- Reserves +€70,682
up €70,682 (+6.6%), from €1.1m to €1.1m
- Financial income +€89,004
up €89,004 (+264%), from €33,656 to €122,660
- Gross operating margin -€15,935
down €15,935 (-7.3%), from €218,248 to €202,313
- Taxes +€4,318
up €4,318 (+7.3%), from €59,347 to €63,665
- Financial charges -€3,187
down €3,187 (-76.5%), from €4,164 to €977
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 | €1,122,482 | €1,346,273 | +€223,792 | +19.9% |
| Fixed assets | 21/28 | €18,560 | €23,841 | +€5,281 | +28.5% |
| Tangible fixed assets | 22/27 | €18,560 | €23,841 | +€5,281 | +28.5% |
| Plant, machinery and equipment | 23 | - | €1,483 | +€1,483 | |
| Furniture and vehicles | 24 | €10,867 | €15,796 | +€4,929 | +45.4% |
| Other tangible fixed assets | 26 | €7,693 | €6,562 | -€1,131 | -14.7% |
| Current assets | 29/58 | €1,103,922 | €1,322,433 | +€218,511 | +19.8% |
| Amounts receivable within one year | 40/41 | €103,920 | €113,749 | +€9,829 | +9.5% |
| Trade receivables | 40 | €103,000 | €113,000 | +€10,000 | +9.7% |
| Other amounts receivable | 41 | €920 | €749 | -€171 | -18.6% |
| Current investments | 50/53 | €941,332 | €1,193,477 | +€252,146 | +26.8% |
| Cash at bank and in hand | 54/58 | €55,356 | €12,144 | -€43,212 | -78.1% |
| Deferred charges and accrued income | 490/1 | €3,315 | €3,063 | -€252 | -7.6% |
| Total equity and liabilities | 10/49 | €1,122,482 | €1,346,273 | +€223,792 | +19.9% |
| Equity | 10/15 | €1,077,478 | €1,148,160 | +€70,682 | +6.6% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €1,070,978 | €1,141,660 | +€70,682 | +6.6% |
| Distributable reserves | 133 | €1,070,978 | €1,141,660 | +€70,682 | +6.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €45,004 | €198,113 | +€153,110 | +340% |
| Amounts payable within one year | 42/48 | €45,004 | €198,113 | +€153,110 | +340% |
| Financial debts | 43 | €58 | €14 | -€44 | -76.0% |
| Credit institutions | 430/8 | €58 | €14 | -€44 | -76.0% |
| Trade debts | 44 | €10,880 | €5,328 | -€5,552 | -51.0% |
| Suppliers | 440/4 | €10,880 | €5,328 | -€5,552 | -51.0% |
| Taxes, remuneration and social security | 45 | €26,330 | €35,580 | +€9,250 | +35.1% |
| Taxes | 450/3 | €21,062 | €26,786 | +€5,724 | +27.2% |
| Remuneration and social security | 454/9 | €5,268 | €8,794 | +€3,526 | +66.9% |
| Other amounts payable | 47/48 | €7,735 | €157,191 | +€149,456 | +1,932% |
| Remuneration, social security and pensions | 62 | €34,201 | €35,720 | +€1,519 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,424 | €4,903 | -€1,522 | -23.7% |
| Other operating charges | 640/8 | €3,836 | €1,658 | -€2,179 | -56.8% |
| Gross operating margin | 9900 | €218,248 | €202,313 | -€15,935 | -7.3% |
| Operating profit (loss) | 9901 | €173,786 | €160,033 | -€13,754 | -7.9% |
| Financial income | 75/76B | €33,656 | €122,660 | +€89,004 | +264% |
| Recurring financial income | 75 | €33,656 | €122,660 | +€89,004 | +264% |
| Financial charges | 65/66B | €4,164 | €977 | -€3,187 | -76.5% |
| Recurring financial charges | 65 | €4,164 | €977 | -€3,187 | -76.5% |
| Profit (loss) for the period before taxes | 9903 | €203,278 | €281,715 | +€78,437 | +38.6% |
| Income taxes | 67/77 | €59,347 | €63,665 | +€4,318 | +7.3% |
| Profit (loss) for the period | 9904 | €143,931 | €218,050 | +€74,119 | +51.5% |
| Profit (loss) for the period to be appropriated | 9905 | €143,931 | €218,050 | +€74,119 | +51.5% |
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 14 October 2026 via checked.be.