SQUARE MANAGEMENT: 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.
SQUARE MANAGEMENT
Largest movements
- Receivables within one year -€6,588
down €6,588 (-77.4%), from €8,507 to €1,919
of which Trade receivables: -€5,302
- Cash -€1,740
down €1,740 (-3.1%), from €56,526 to €54,787
mainly Other debts (-€12,250) and Tax, wage and social debts (-€914)
- Other debts -€12,250
no longer reported in 2025 (was €12,250)
- Reserves +€4,750
up €4,750 (+17.0%), from €27,860 to €32,610
- Tax, wage and social debts -€914
down €914 (-23.6%), from €3,864 to €2,950
- Gross operating margin -€4,156
down €4,156 (-24.4%), from €17,047 to €12,891
- Taxes +€1,751
up €1,751 (+39.5%), from €4,433 to €6,184
- Other operating charges +€217
up €217 (+21.4%), from €1,013 to €1,230
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 | €65,632 | €57,509 | -€8,124 | -12.4% |
| Fixed assets | 21/28 | €599 | €803 | +€204 | +34.1% |
| Tangible fixed assets | 22/27 | €599 | €803 | +€204 | +34.1% |
| Furniture and vehicles | 24 | €599 | €803 | +€204 | +34.1% |
| Current assets | 29/58 | €65,033 | €56,705 | -€8,328 | -12.8% |
| Amounts receivable within one year | 40/41 | €8,507 | €1,919 | -€6,588 | -77.4% |
| Trade receivables | 40 | €7,117 | €1,815 | -€5,302 | -74.5% |
| Other amounts receivable | 41 | €1,390 | €104 | -€1,286 | -92.5% |
| Cash at bank and in hand | 54/58 | €56,526 | €54,787 | -€1,740 | -3.1% |
| Total equity and liabilities | 10/49 | €65,632 | €57,509 | -€8,124 | -12.4% |
| Equity | 10/15 | €49,448 | €54,327 | +€4,878 | +9.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €27,860 | €32,610 | +€4,750 | +17.0% |
| Distributable reserves | 133 | €27,860 | €32,610 | +€4,750 | +17.0% |
| Profit (loss) carried forward | 14 | €15,388 | €15,517 | +€128 | +0.8% |
| Amounts payable | 17/49 | €16,184 | €3,182 | -€13,002 | -80.3% |
| Amounts payable within one year | 42/48 | €16,184 | €3,182 | -€13,002 | -80.3% |
| Trade debts | 44 | €70 | €232 | +€162 | +230.3% |
| Suppliers | 440/4 | €70 | €232 | +€162 | +230.3% |
| Taxes, remuneration and social security | 45 | €3,864 | €2,950 | -€914 | -23.6% |
| Taxes | 450/3 | €3,864 | €2,950 | -€914 | -23.6% |
| Other amounts payable | 47/48 | €12,250 | - | -€12,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €445 | €539 | +€94 | +21.2% |
| Other operating charges | 640/8 | €1,013 | €1,230 | +€217 | +21.4% |
| Gross operating margin | 9900 | €17,047 | €12,891 | -€4,156 | -24.4% |
| Operating profit (loss) | 9901 | €15,589 | €11,122 | -€4,467 | -28.7% |
| Financial charges | 65/66B | €126 | €60 | -€66 | -52.4% |
| Recurring financial charges | 65 | €126 | €60 | -€66 | -52.4% |
| Profit (loss) for the period before taxes | 9903 | €15,463 | €11,062 | -€4,401 | -28.5% |
| Income taxes | 67/77 | €4,433 | €6,184 | +€1,751 | +39.5% |
| Profit (loss) for the period | 9904 | €11,030 | €4,878 | -€6,151 | -55.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,030 | €4,878 | -€6,151 | -55.8% |
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 6 October 2026 via checked.be.