Square Group: 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.
What changed
Square Group
NACE 82.990, Other business support services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.1m
2024 · €687,691+€1.4m
Equity
€31.9m
2024 · €30.3m+€1.6m
Cash
€1.0m
2024 · €798,665+€230,283
Balance sheet total
€57.2m
2024 · €58.4m-€1.2m
Largest movements
Assets
- Financial fixed assets -€1.2m
down €1.2m (-2.9%), from €42.3m to €41.1m
of which Affiliated companies: -€1.2m
Equity and liabilities
- Other debts -€1.7m
down €1.7m (-14.1%), from €12.3m to €10.6m
- Profit (loss) carried forward +€1.5m
up €1.5m (+14.4%), from €10.5m to €12.0m
- Debts after one year -€999,996
down €999,996 (-8.3%), from €12.0m to €11.0m
of which Financial debts: -€999,996
Income statement
- Financial income +€1.8m
up €1.8m (+338.1%), from €540,492 to €2.4m
of which Non-recurring financial income: +€1.8m
- Services and other goods +€484,356
up €484,356 (+9.1%), from €5.3m to €5.8m
- Turnover -€216,373
down €216,373 (-2.4%), from €9.1m to €8.9m
- Other operating income +€198,064
up €198,064 (+24.0%), from €826,487 to €1.0m
- Depreciation -€95,635
down €95,635 (-39.7%), from €240,891 to €145,256
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.
Result 2024
€687,691
Turnover
-€216,373
Other operating income
+€198,064
Goods and materials
+€27,786
Services and other goods
-€484,356
Staff costs
-€42,647
Depreciation
+€95,635
Other operating charges
+€31,942
Other operating items
-€15,913
Financial income
+€1.8m
Financial charges
-€2,359
Taxes
+€5,733
Deferred taxes and other
-€2,280
Result 2025
€2.1m
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.
From operations
+€565,164
Investment
+€1.2m
Financing
-€1.5m
Cash 2024
€798,665
From operations (derived)
+€565,164
Net result for the year
+€2.1m
Depreciation
+€145,256
Receivables within one year
+€206,569
Deferred charges and accrued income
-€78,741
Trade debts
-€228,812
Tax, wage and social debts
+€43,255
Other debts
-€1.7m
Accrued charges and deferred income
+€106,002
Investment (derived)
+€1.2m
Investment in fixed assets (net)
+€1.2m
Financing
-€1.5m
Debts after one year
-€999,996
Short-term financial debts
-€208
Contributions, distributions and other
-€500,000
Cash 2025
€1.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €58,389,377 | €57,181,253 | -€1.2m | -2.1% |
| Fixed assets | 21/28 | €52,063,962 | €50,753,382 | -€1.3m | -2.5% |
| Intangible fixed assets | 21 | €406,436 | €400,251 | -€6,184 | -1.5% |
| Tangible fixed assets | 22/27 | €9,364,613 | €9,278,067 | -€86,546 | -0.9% |
| Land and buildings | 22 | €9,055,091 | €9,079,656 | +€24,565 | +0.3% |
| Furniture and vehicles | 24 | €233,471 | €130,740 | -€102,731 | -44.0% |
| Assets under construction and advance payments | 27 | €76,051 | €67,671 | -€8,380 | -11.0% |
| Financial fixed assets | 28 | €42,292,913 | €41,075,063 | -€1.2m | -2.9% |
| Affiliated companies | 280/1 | €42,259,313 | €41,075,063 | -€1.2m | -2.8% |
| Participating interests | 280 | €37,708,563 | €41,075,063 | +€3.4m | +8.9% |
| Amounts receivable | 281 | €4,550,750 | - | -€4.6m | |
| Other financial fixed assets | 284/8 | €33,600 | - | -€33,600 | |
| Shares | 284 | €33,600 | - | -€33,600 | |
| Current assets | 29/58 | €6,325,416 | €6,427,871 | +€102,455 | +1.6% |
| Amounts receivable within one year | 40/41 | €5,264,550 | €5,057,981 | -€206,569 | -3.9% |
| Trade receivables | 40 | €525,790 | €267,797 | -€257,993 | -49.1% |
| Other amounts receivable | 41 | €4,738,760 | €4,790,184 | +€51,424 | +1.1% |
| Cash at bank and in hand | 54/58 | €798,665 | €1,028,948 | +€230,283 | +28.8% |
| Deferred charges and accrued income | 490/1 | €262,201 | €340,942 | +€78,741 | +30.0% |
| Total equity and liabilities | 10/49 | €58,389,377 | €57,181,253 | -€1.2m | -2.1% |
| Equity | 10/15 | €30,305,708 | €31,915,842 | +€1.6m | +5.3% |
| Contributions | 10/11 | €18,619,575 | €18,619,575 | = | 0.0% |
| Capital | 10 | €18,619,575 | €18,619,575 | = | 0.0% |
| Issued capital | 100 | €18,619,575 | €18,619,575 | = | 0.0% |
| Reserves | 13 | €1,218,938 | €1,323,458 | +€104,520 | +8.6% |
| Non-distributable reserves | 130/1 | €771,917 | €877,475 | +€105,559 | +13.7% |
| Legal reserve | 130 | €754,278 | €859,836 | +€105,559 | +14.0% |
| Reserves not available under the articles | 1311 | €17,639 | €17,639 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,915 | €15,876 | -€1,039 | -6.1% |
| Distributable reserves | 133 | €430,106 | €430,106 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,455,927 | €11,961,542 | +€1.5m | +14.4% |
| Investment grants | 15 | €11,268 | €11,268 | = | 0.0% |
| Provisions and deferred taxes | 16 | €55,051 | €55,051 | = | 0.0% |
| Deferred taxes | 168 | €55,051 | €55,051 | = | 0.0% |
| Amounts payable | 17/49 | €28,028,619 | €25,210,360 | -€2.8m | -10.1% |
| Amounts payable after more than one year | 17 | €12,000,743 | €11,000,747 | -€999,996 | -8.3% |
| Financial debts | 170/4 | €12,000,012 | €11,000,016 | -€999,996 | -8.3% |
| Credit institutions | 173 | €12,000,012 | €11,000,016 | -€999,996 | -8.3% |
| Other amounts payable | 178/9 | €731 | €731 | = | 0.0% |
| Amounts payable within one year | 42/48 | €15,570,605 | €13,646,340 | -€1.9m | -12.4% |
| Current portion of amounts payable after more than one year | 42 | €999,996 | €999,996 | = | 0.0% |
| Financial debts | 43 | €205,854 | €205,645 | -€208 | -0.1% |
| Credit institutions | 430/8 | €205,854 | €205,645 | -€208 | -0.1% |
| Trade debts | 44 | €1,427,414 | €1,198,601 | -€228,812 | -16.0% |
| Suppliers | 440/4 | €1,427,414 | €1,198,601 | -€228,812 | -16.0% |
| Taxes, remuneration and social security | 45 | €588,372 | €631,628 | +€43,255 | +7.4% |
| Taxes | 450/3 | €43,444 | €46,508 | +€3,064 | +7.1% |
| Remuneration and social security | 454/9 | €544,928 | €585,119 | +€40,191 | +7.4% |
| Other amounts payable | 47/48 | €12,348,970 | €10,610,470 | -€1.7m | -14.1% |
| Accrued charges and deferred income | 492/3 | €457,271 | €563,273 | +€106,002 | +23.2% |
| Operating income | 70/76A | €9,952,359 | €9,918,136 | -€34,223 | -0.3% |
| Turnover | 70 | €9,094,381 | €8,878,008 | -€216,373 | -2.4% |
| Other operating income | 74 | €826,487 | €1,024,550 | +€198,064 | +24.0% |
| Non-recurring operating income | 76A | €31,491 | €15,578 | -€15,913 | -50.5% |
| Operating charges | 60/66A | €8,801,173 | €9,172,813 | +€371,640 | +4.2% |
| Goods for resale, raw materials and consumables | 60 | €33,921 | €6,136 | -€27,786 | -81.9% |
| Purchases | 600/8 | €33,921 | €6,136 | -€27,786 | -81.9% |
| Services and other goods | 61 | €5,329,351 | €5,813,706 | +€484,356 | +9.1% |
| Remuneration, social security and pensions | 62 | €3,004,018 | €3,046,665 | +€42,647 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €240,891 | €145,256 | -€95,635 | -39.7% |
| Other operating charges | 640/8 | €192,991 | €161,049 | -€31,942 | -16.6% |
| Operating profit (loss) | 9901 | €1,151,187 | €745,324 | -€405,863 | -35.3% |
| Financial income | 75/76B | €540,492 | €2,367,705 | +€1.8m | +338.1% |
| Recurring financial income | 75 | €540,492 | €518,218 | -€22,274 | -4.1% |
| Income from financial fixed assets | 750 | €361,939 | €326,733 | -€35,206 | -9.7% |
| Income from current assets | 751 | €177,425 | €190,963 | +€13,538 | +7.6% |
| Other financial income | 752/9 | €1,128 | €522 | -€606 | -53.7% |
| Non-recurring financial income | 76B | - | €1,849,487 | +€1.8m | |
| Financial charges | 65/66B | €1,001,954 | €1,004,313 | +€2,359 | +0.2% |
| Recurring financial charges | 65 | €1,001,954 | €1,004,313 | +€2,359 | +0.2% |
| Debt charges | 650 | €994,914 | €988,559 | -€6,355 | -0.6% |
| Other financial charges | 652/9 | €7,039 | €15,753 | +€8,714 | +123.8% |
| Profit (loss) for the period before taxes | 9903 | €689,725 | €2,108,716 | +€1.4m | +205.7% |
| Transfer from deferred taxes | 780 | €2,280 | - | -€2,280 | |
| Income taxes | 67/77 | €4,315 | -€1,418 | -€5,733 | |
| Taxes | 670/3 | €4,315 | €4,359 | +€44 | +1.0% |
| Tax adjustments and reversals of tax provisions | 77 | - | €5,777 | +€5,777 | |
| Profit (loss) for the period | 9904 | €687,691 | €2,110,135 | +€1.4m | +206.8% |
| Transfer from tax-exempt reserves | 789 | €1,669 | €1,039 | -€631 | -37.8% |
| Profit (loss) for the period to be appropriated | 9905 | €689,360 | €2,111,174 | +€1.4m | +206.3% |
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 5 October 2026 via checked.be.