SQUARE CONSTRUCT: 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.
SQUARE CONSTRUCT
Largest movements
- Receivables within one year +€177,141
up €177,141 (+180%), from €98,470 to €275,611
of which Trade receivables: +€180,121
- Cash -€15,008
down €15,008 (-51.6%), from €29,084 to €14,076
mainly Receivables within one year (-€177,141) and Other debts (-€40,734)
- Trade debts +€167,787
up €167,787 (+194%), from €86,591 to €254,378
- Other debts -€40,734
no longer reported in 2025 (was €40,734)
- Profit (loss) carried forward +€33,781
up €33,781 (+622%), from €5,429 to €39,210
- Gross operating margin +€28,665
up €28,665 (+415%), from €6,909 to €35,574
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 | €132,754 | €293,587 | +€160,834 | +121% |
| Fixed assets | 21/28 | €5,200 | €3,900 | -€1,300 | -25.0% |
| Tangible fixed assets | 22/27 | €5,200 | €3,900 | -€1,300 | -25.0% |
| Furniture and vehicles | 24 | €5,200 | €3,900 | -€1,300 | -25.0% |
| Current assets | 29/58 | €127,554 | €289,687 | +€162,134 | +127% |
| Amounts receivable within one year | 40/41 | €98,470 | €275,611 | +€177,141 | +180% |
| Trade receivables | 40 | €80,597 | €260,718 | +€180,121 | +223% |
| Other amounts receivable | 41 | €17,873 | €14,893 | -€2,979 | -16.7% |
| Cash at bank and in hand | 54/58 | €29,084 | €14,076 | -€15,008 | -51.6% |
| Total equity and liabilities | 10/49 | €132,754 | €293,587 | +€160,834 | +121% |
| Equity | 10/15 | €5,429 | €39,210 | +€33,781 | +622% |
| Profit (loss) carried forward | 14 | €5,429 | €39,210 | +€33,781 | +622% |
| Amounts payable | 17/49 | €127,325 | €254,378 | +€127,053 | +99.8% |
| Amounts payable within one year | 42/48 | €127,325 | €254,378 | +€127,053 | +99.8% |
| Trade debts | 44 | €86,591 | €254,378 | +€167,787 | +194% |
| Suppliers | 440/4 | €86,591 | €254,378 | +€167,787 | +194% |
| Other amounts payable | 47/48 | €40,734 | - | -€40,734 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,300 | €1,300 | = | 0.0% |
| Other operating charges | 640/8 | €180 | €370 | +€190 | +105% |
| Gross operating margin | 9900 | €6,909 | €35,574 | +€28,665 | +415% |
| Operating profit (loss) | 9901 | €5,429 | €33,904 | +€28,475 | +525% |
| Financial charges | 65/66B | - | €123 | +€123 | |
| Recurring financial charges | 65 | - | €123 | +€123 | |
| Profit (loss) for the period before taxes | 9903 | €5,429 | €33,781 | +€28,352 | +522% |
| Profit (loss) for the period | 9904 | €5,429 | €33,781 | +€28,352 | +522% |
| Profit (loss) for the period to be appropriated | 9905 | €5,429 | €33,781 | +€28,352 | +522% |
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.