SQUARE INVEST: 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 INVEST
Largest movements
- Intangible fixed assets +€164,447
up €164,447 (+2,179%), from €7,549 to €171,995
- Deferred charges and accrued income +€39,214
up €39,214 (+41.5%), from €94,563 to €133,777
- Receivables within one year -€20,000
down €20,000 (-6.1%), from €327,326 to €307,326
of which Trade receivables: -€20,000
- Tangible fixed assets +€19,358
up €19,358 (+28.6%), from €67,802 to €87,160
of which Other tangible fixed assets: +€12,712
- Cash +€8,316
up €8,316 (+97.9%), from €8,490 to €16,806
mainly Trade debts (+€96,670) and Debts after one year (+€84,090)
- Trade debts +€96,670
up €96,670 (+49.8%), from €194,205 to €290,874
- Debts after one year +€84,090
new in 2025: €84,090
- Current portion of long-term debt +€24,713
up €24,713 (+180%), from €13,752 to €38,465
- Gross operating margin +€52,997
up €52,997 (+46.6%), from €113,687 to €166,684
- Depreciation +€38,860
up €38,860 (+143%), from €27,084 to €65,944
- Staff costs +€5,761
up €5,761 (+7.4%), from €78,371 to €84,132
- Financial charges +€4,649
up €4,649 (+782%), from €595 to €5,244
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 | €512,349 | €723,684 | +€211,335 | +41.2% |
| Fixed assets | 21/28 | €81,970 | €265,775 | +€183,805 | +224% |
| Intangible fixed assets | 21 | €7,549 | €171,995 | +€164,447 | +2,179% |
| Tangible fixed assets | 22/27 | €67,802 | €87,160 | +€19,358 | +28.6% |
| Plant, machinery and equipment | 23 | €9,582 | €14,128 | +€4,546 | +47.4% |
| Furniture and vehicles | 24 | - | €2,100 | +€2,100 | |
| Other tangible fixed assets | 26 | €58,219 | €70,932 | +€12,712 | +21.8% |
| Financial fixed assets | 28 | €6,620 | €6,620 | = | 0.0% |
| Current assets | 29/58 | €430,379 | €457,909 | +€27,530 | +6.4% |
| Amounts receivable within one year | 40/41 | €327,326 | €307,326 | -€20,000 | -6.1% |
| Trade receivables | 40 | €20,000 | - | -€20,000 | |
| Other amounts receivable | 41 | €307,326 | €307,326 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,490 | €16,806 | +€8,316 | +97.9% |
| Deferred charges and accrued income | 490/1 | €94,563 | €133,777 | +€39,214 | +41.5% |
| Total equity and liabilities | 10/49 | €512,349 | €723,684 | +€211,335 | +41.2% |
| Equity | 10/15 | €284,250 | €290,068 | +€5,818 | +2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €265,650 | €271,468 | +€5,818 | +2.2% |
| Distributable reserves | 133 | €265,650 | €271,468 | +€5,818 | +2.2% |
| Amounts payable | 17/49 | €228,099 | €433,616 | +€205,517 | +90.1% |
| Amounts payable after more than one year | 17 | - | €84,090 | +€84,090 | |
| Financial debts | 170/4 | - | €84,090 | +€84,090 | |
| Amounts payable within one year | 42/48 | €224,411 | €346,728 | +€122,317 | +54.5% |
| Current portion of amounts payable after more than one year | 42 | €13,752 | €38,465 | +€24,713 | +180% |
| Trade debts | 44 | €194,205 | €290,874 | +€96,670 | +49.8% |
| Suppliers | 440/4 | €194,205 | €290,874 | +€96,670 | +49.8% |
| Taxes, remuneration and social security | 45 | €11,858 | €11,571 | -€287 | -2.4% |
| Taxes | 450/3 | €2,499 | €1,978 | -€521 | -20.8% |
| Remuneration and social security | 454/9 | €9,359 | €9,593 | +€234 | +2.5% |
| Other amounts payable | 47/48 | €4,596 | €5,818 | +€1,222 | +26.6% |
| Accrued charges and deferred income | 492/3 | €3,688 | €2,798 | -€890 | -24.1% |
| Remuneration, social security and pensions | 62 | €78,371 | €84,132 | +€5,761 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,084 | €65,944 | +€38,860 | +143% |
| Other operating charges | 640/8 | €3,556 | €3,569 | +€12 | +0.3% |
| Gross operating margin | 9900 | €113,687 | €166,684 | +€52,997 | +46.6% |
| Operating profit (loss) | 9901 | €4,676 | €13,040 | +€8,365 | +179% |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €595 | €5,244 | +€4,649 | +782% |
| Recurring financial charges | 65 | €595 | €5,244 | +€4,649 | +782% |
| Profit (loss) for the period before taxes | 9903 | €4,091 | €7,796 | +€3,705 | +90.6% |
| Income taxes | 67/77 | €2,499 | €1,978 | -€521 | -20.8% |
| Profit (loss) for the period | 9904 | €1,592 | €5,818 | +€4,226 | +265% |
| Profit (loss) for the period to be appropriated | 9905 | €1,592 | €5,818 | +€4,226 | +265% |
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 1 November 2026 via checked.be.