SQUALE-LINE: 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.
SQUALE-LINE
Largest movements
- Cash -€24,799
down €24,799 (-32.2%), from €76,987 to €52,188
mainly Net result for the year (-€29,802) and Tax, wage and social debts (-€5,233)
- Receivables within one year -€9,828
down €9,828 (-58.6%), from €16,763 to €6,935
of which Trade receivables: -€13,623
- Tangible fixed assets -€5,226
down €5,226 (-17.1%), from €30,546 to €25,320
- Deferred charges and accrued income -€1,325
no longer reported in 2025 (was €1,325)
- Profit (loss) carried forward -€27,894
down €27,894, from €20,256 to -€7,638
- Tax, wage and social debts -€5,233
down €5,233 (-82.1%), from €6,375 to €1,142
- Debts after one year -€3,399
down €3,399 (-66.0%), from €5,151 to €1,751
- Other debts -€2,993
no longer reported in 2025 (was €2,993)
- Reserves -€1,908
down €1,908 (-2.8%), from €69,018 to €67,110
- Gross operating margin -€53,689
down €53,689, from €34,334 to -€19,355
- Taxes -€7,708
down €7,708 (-96.7%), from €7,973 to €265
- Depreciation +€2,798
up €2,798 (+55.1%), from €5,080 to €7,879
- Other operating charges +€485
new in 2025: €485
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 | €125,658 | €84,481 | -€41,177 | -32.8% |
| Fixed assets | 21/28 | €30,584 | €25,358 | -€5,226 | -17.1% |
| Tangible fixed assets | 22/27 | €30,546 | €25,320 | -€5,226 | -17.1% |
| Furniture and vehicles | 24 | €30,546 | €25,320 | -€5,226 | -17.1% |
| Financial fixed assets | 28 | €38 | €38 | = | 0.0% |
| Current assets | 29/58 | €95,075 | €59,123 | -€35,951 | -37.8% |
| Amounts receivable within one year | 40/41 | €16,763 | €6,935 | -€9,828 | -58.6% |
| Trade receivables | 40 | €16,763 | €3,140 | -€13,623 | -81.3% |
| Other amounts receivable | 41 | - | €3,795 | +€3,795 | |
| Cash at bank and in hand | 54/58 | €76,987 | €52,188 | -€24,799 | -32.2% |
| Deferred charges and accrued income | 490/1 | €1,325 | - | -€1,325 | |
| Total equity and liabilities | 10/49 | €125,658 | €84,481 | -€41,177 | -32.8% |
| Equity | 10/15 | €107,874 | €78,072 | -€29,802 | -27.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €69,018 | €67,110 | -€1,908 | -2.8% |
| Distributable reserves | 133 | €69,018 | €67,110 | -€1,908 | -2.8% |
| Profit (loss) carried forward | 14 | €20,256 | -€7,638 | -€27,894 | |
| Amounts payable | 17/49 | €17,784 | €6,409 | -€11,375 | -64.0% |
| Amounts payable after more than one year | 17 | €5,151 | €1,751 | -€3,399 | -66.0% |
| Financial debts | 170/4 | €5,151 | €1,751 | -€3,399 | -66.0% |
| Amounts payable within one year | 42/48 | €12,634 | €4,657 | -€7,976 | -63.1% |
| Current portion of amounts payable after more than one year | 42 | €3,265 | €3,399 | +€134 | +4.1% |
| Trade debts | 44 | - | €116 | +€116 | |
| Suppliers | 440/4 | - | €116 | +€116 | |
| Taxes, remuneration and social security | 45 | €6,375 | €1,142 | -€5,233 | -82.1% |
| Taxes | 450/3 | €6,375 | €1,142 | -€5,233 | -82.1% |
| Other amounts payable | 47/48 | €2,993 | - | -€2,993 | |
| Non-recurring operating income | 76A | €10,744 | - | -€10,744 | |
| Remuneration, social security and pensions | 62 | €169 | - | -€169 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,080 | €7,879 | +€2,798 | +55.1% |
| Other operating charges | 640/8 | - | €485 | +€485 | |
| Non-recurring operating charges | 66A | - | €1,455 | +€1,455 | |
| Gross operating margin | 9900 | €34,334 | -€19,355 | -€53,689 | |
| Operating profit (loss) | 9901 | €29,084 | -€29,174 | -€58,258 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €302 | €363 | +€62 | +20.5% |
| Recurring financial charges | 65 | €302 | €363 | +€62 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | €28,783 | -€29,537 | -€58,320 | |
| Income taxes | 67/77 | €7,973 | €265 | -€7,708 | -96.7% |
| Profit (loss) for the period | 9904 | €20,810 | -€29,802 | -€50,612 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,810 | -€29,802 | -€50,612 |
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 10 October 2026 via checked.be.