Square City: what changed
What changed
Square City
NACE 78.100, Employment placement agencies
filed annual accounts (NBB)
Net result for the year
€8,848
2024 · €261,093-€252,245
Equity
€1.1m
2024 · €1.2m-€112,624
Cash
€574,100
2024 · €630,981-€56,881
Balance sheet total
€1.7m
2024 · €2.0m-€251,598
Largest movements
Assets
- Receivables after one year -€107,533
down €107,533 (-100%), from €107,533 to €0
- Tangible fixed assets -€64,158
down €64,158 (-6.3%), from €1.0m to €957,048
of which Land and buildings: -€43,287
- Cash -€56,881
down €56,881 (-9.0%), from €630,981 to €574,100
mainly Contributions, distributions and other (-€121,472) and Trade debts (-€76,359)
- Receivables within one year -€24,517
down €24,517 (-11.7%), from €208,728 to €184,210
of which Trade receivables: -€54,507
Equity and liabilities
- Reserves -€112,624
down €112,624 (-9.8%), from €1.2m to €1.0m
- Trade debts -€76,359
down €76,359 (-60.3%), from €126,616 to €50,258
- Debts after one year -€51,683
down €51,683 (-9.7%), from €533,776 to €482,093
Income statement
- Gross operating margin -€373,524
down €373,524 (-28.5%), from €1.3m to €937,781
- Taxes -€113,686
down €113,686 (-77.4%), from €146,898 to €33,212
- Staff costs -€15,931
down €15,931 (-1.9%), from €822,752 to €806,821
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€261,093
Gross operating margin
-€373,524
Staff costs
+€15,931
Depreciation
+€1,300
Other operating charges
-€229
Financial income
-€11,553
Financial charges
+€2,144
Taxes
+€113,686
Result 2025
€8,848
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€120,023
Investment
-€4,331
Financing
-€172,573
Cash 2024
€630,981
From operations (derived)
+€120,023
Net result for the year
+€8,848
Depreciation
+€68,489
Receivables after one year
+€107,533
Receivables within one year
+€24,517
Deferred charges and accrued income
-€1,492
Trade debts
-€76,359
Tax, wage and social debts
-€11,382
Other debts
-€132
Investment (derived)
-€4,331
Investment in fixed assets (net)
-€4,331
Financing
-€172,573
Debts after one year
-€51,683
Current portion of long-term debt
+€582
Contributions, distributions and other
-€121,472
Cash 2025
€574,100
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,971,487 | €1,719,888 | -€251,598 | -12.8% |
| Fixed assets | 21/28 | €1,021,207 | €957,048 | -€64,158 | -6.3% |
| Tangible fixed assets | 22/27 | €1,021,207 | €957,048 | -€64,158 | -6.3% |
| Land and buildings | 22 | €939,173 | €895,886 | -€43,287 | -4.6% |
| Plant, machinery and equipment | 23 | €2,681 | €566 | -€2,115 | -78.9% |
| Furniture and vehicles | 24 | €79,352 | €60,596 | -€18,756 | -23.6% |
| Current assets | 29/58 | €950,280 | €762,840 | -€187,440 | -19.7% |
| Amounts receivable after more than one year | 29 | €107,533 | €0 | -€107,533 | -100% |
| Trade receivables | 290 | €107,533 | €0 | -€107,533 | -100% |
| Amounts receivable within one year | 40/41 | €208,728 | €184,210 | -€24,517 | -11.7% |
| Trade receivables | 40 | €191,045 | €136,537 | -€54,507 | -28.5% |
| Other amounts receivable | 41 | €17,683 | €47,673 | +€29,990 | +170% |
| Cash at bank and in hand | 54/58 | €630,981 | €574,100 | -€56,881 | -9.0% |
| Deferred charges and accrued income | 490/1 | €3,038 | €4,529 | +€1,492 | +49.1% |
| Total equity and liabilities | 10/49 | €1,971,487 | €1,719,888 | -€251,598 | -12.8% |
| Equity | 10/15 | €1,169,559 | €1,056,935 | -€112,624 | -9.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,150,967 | €1,038,343 | -€112,624 | -9.8% |
| Distributable reserves | 133 | €1,150,967 | €1,038,343 | -€112,624 | -9.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €801,928 | €662,954 | -€138,974 | -17.3% |
| Amounts payable after more than one year | 17 | €533,776 | €482,093 | -€51,683 | -9.7% |
| Financial debts | 170/4 | €533,776 | €482,093 | -€51,683 | -9.7% |
| Amounts payable within one year | 42/48 | €268,152 | €180,861 | -€87,291 | -32.6% |
| Current portion of amounts payable after more than one year | 42 | €51,101 | €51,683 | +€582 | +1.1% |
| Trade debts | 44 | €126,616 | €50,258 | -€76,359 | -60.3% |
| Suppliers | 440/4 | €126,616 | €50,258 | -€76,359 | -60.3% |
| Taxes, remuneration and social security | 45 | €89,705 | €78,323 | -€11,382 | -12.7% |
| Taxes | 450/3 | €3,818 | €7,277 | +€3,459 | +90.6% |
| Remuneration and social security | 454/9 | €85,887 | €71,047 | -€14,841 | -17.3% |
| Other amounts payable | 47/48 | €729 | €597 | -€132 | -18.1% |
| Non-recurring operating income | 76A | €0 | €1,210 | +€1,210 | |
| Remuneration, social security and pensions | 62 | €822,752 | €806,821 | -€15,931 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,790 | €68,489 | -€1,300 | -1.9% |
| Other operating charges | 640/8 | €6,832 | €7,062 | +€229 | +3.4% |
| Gross operating margin | 9900 | €1,311,305 | €937,781 | -€373,524 | -28.5% |
| Operating profit (loss) | 9901 | €411,931 | €55,409 | -€356,522 | -86.5% |
| Financial income | 75/76B | €14,646 | €3,092 | -€11,553 | -78.9% |
| Recurring financial income | 75 | €14,646 | €3,092 | -€11,553 | -78.9% |
| Financial charges | 65/66B | €18,586 | €16,441 | -€2,144 | -11.5% |
| Recurring financial charges | 65 | €18,586 | €16,441 | -€2,144 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €407,991 | €42,060 | -€365,931 | -89.7% |
| Income taxes | 67/77 | €146,898 | €33,212 | -€113,686 | -77.4% |
| Profit (loss) for the period | 9904 | €261,093 | €8,848 | -€252,245 | -96.6% |
| Profit (loss) for the period to be appropriated | 9905 | €261,093 | €8,848 | -€252,245 | -96.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.