SQUARE MOON: 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 MOON
Largest movements
- Receivables within one year -€59,344
down €59,344 (-15.8%), from €376,530 to €317,185
of which Trade receivables: -€234,603
- Cash -€13,917
down €13,917 (-10.4%), from €133,920 to €120,003
mainly Debts after one year (-€100,000) and Contributions, distributions and other (-€70,588)
- Deferred charges and accrued income +€9,289
up €9,289, from €0 to €9,289
- Debts after one year -€100,000
down €100,000 (-50.0%), from €200,000 to €100,000
- Other debts +€66,158
up €66,158 (+1,493%), from €4,430 to €70,588
- Reserves -€18,608
down €18,608 (-10.2%), from €182,926 to €164,318
- Trade debts -€8,777
down €8,777 (-38.8%), from €22,638 to €13,861
- Tax, wage and social debts -€6,928
down €6,928 (-9.8%), from €70,927 to €64,000
- Gross operating margin +€18,378
up €18,378 (+32.5%), from €56,549 to €74,927
- Financial income -€3,633
down €3,633 (-25.7%), from €14,144 to €10,511
- Financial charges +€2,881
up €2,881 (+24.7%), from €11,653 to €14,535
- Taxes +€2,636
up €2,636 (+17.9%), from €14,691 to €17,327
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 | €511,281 | €446,632 | -€64,649 | -12.6% |
| Fixed assets | 21/28 | €831 | €154 | -€677 | -81.5% |
| Intangible fixed assets | 21 | €831 | €154 | -€677 | -81.5% |
| Current assets | 29/58 | €510,450 | €446,478 | -€63,972 | -12.5% |
| Amounts receivable within one year | 40/41 | €376,530 | €317,185 | -€59,344 | -15.8% |
| Trade receivables | 40 | €348,453 | €113,849 | -€234,603 | -67.3% |
| Other amounts receivable | 41 | €28,077 | €203,336 | +€175,259 | +624% |
| Cash at bank and in hand | 54/58 | €133,920 | €120,003 | -€13,917 | -10.4% |
| Deferred charges and accrued income | 490/1 | €0 | €9,289 | +€9,289 | |
| Total equity and liabilities | 10/49 | €511,281 | €446,632 | -€64,649 | -12.6% |
| Equity | 10/15 | €202,926 | €184,318 | -€18,608 | -9.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €182,926 | €164,318 | -€18,608 | -10.2% |
| Distributable reserves | 133 | €182,926 | €164,318 | -€18,608 | -10.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €308,355 | €262,314 | -€46,041 | -14.9% |
| Amounts payable after more than one year | 17 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Financial debts | 170/4 | €200,000 | €100,000 | -€100,000 | -50.0% |
| Amounts payable within one year | 42/48 | €97,995 | €148,449 | +€50,453 | +51.5% |
| Trade debts | 44 | €22,638 | €13,861 | -€8,777 | -38.8% |
| Suppliers | 440/4 | €22,638 | €13,861 | -€8,777 | -38.8% |
| Taxes, remuneration and social security | 45 | €70,927 | €64,000 | -€6,928 | -9.8% |
| Taxes | 450/3 | €70,927 | €64,000 | -€6,928 | -9.8% |
| Other amounts payable | 47/48 | €4,430 | €70,588 | +€66,158 | +1,493% |
| Accrued charges and deferred income | 492/3 | €10,359 | €13,865 | +€3,506 | +33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €677 | €677 | = | 0.0% |
| Other operating charges | 640/8 | €903 | €919 | +€16 | +1.8% |
| Gross operating margin | 9900 | €56,549 | €74,927 | +€18,378 | +32.5% |
| Operating profit (loss) | 9901 | €54,969 | €73,331 | +€18,362 | +33.4% |
| Financial income | 75/76B | €14,144 | €10,511 | -€3,633 | -25.7% |
| Recurring financial income | 75 | €14,144 | €10,511 | -€3,633 | -25.7% |
| Financial charges | 65/66B | €11,653 | €14,535 | +€2,881 | +24.7% |
| Recurring financial charges | 65 | €11,653 | €14,535 | +€2,881 | +24.7% |
| Profit (loss) for the period before taxes | 9903 | €57,459 | €69,307 | +€11,847 | +20.6% |
| Income taxes | 67/77 | €14,691 | €17,327 | +€2,636 | +17.9% |
| Profit (loss) for the period | 9904 | €42,768 | €51,980 | +€9,212 | +21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €42,768 | €51,980 | +€9,212 | +21.5% |
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 17 October 2026 via checked.be.