Square Private Equity: 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 Private Equity
Largest movements
- Financial fixed assets +€471,100
up €471,100 (+109.7%), from €429,637 to €900,737
- Cash -€14,448
down €14,448 (-70.9%), from €20,373 to €5,926
mainly Investment in fixed assets (net) (-€471,100) and Net result for the year (-€20,517)
- Contributions +€300,000
up €300,000 (+120.0%), from €250,000 to €550,000
- Other debts +€171,422
up €171,422 (+89.7%), from €191,175 to €362,597
- Profit (loss) carried forward -€20,517
down €20,517, from €8,007 to -€12,510
- Financial income -€15,000
down €15,000 (-100.0%), from €15,000 to €0
- Financial charges +€9,285
up €9,285 (+481.2%), from €1,929 to €11,214
- Gross operating margin -€2,541
down €2,541 (-59.7%), from -€4,255 to -€6,796
- Taxes +€2,107
new in 2025: €2,107
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 | €450,011 | €906,663 | +€456,652 | +101.5% |
| Fixed assets | 21/28 | €429,637 | €900,737 | +€471,100 | +109.7% |
| Financial fixed assets | 28 | €429,637 | €900,737 | +€471,100 | +109.7% |
| Current assets | 29/58 | €20,373 | €5,926 | -€14,448 | -70.9% |
| Cash at bank and in hand | 54/58 | €20,373 | €5,926 | -€14,448 | -70.9% |
| Total equity and liabilities | 10/49 | €450,011 | €906,663 | +€456,652 | +101.5% |
| Equity | 10/15 | €258,429 | €537,912 | +€279,483 | +108.1% |
| Contributions | 10/11 | €250,000 | €550,000 | +€300,000 | +120.0% |
| Capital | 10 | €250,000 | €550,000 | +€300,000 | +120.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Uncalled capital | 101 | €750,000 | €450,000 | -€300,000 | -40.0% |
| Reserves | 13 | €421 | €421 | = | 0.0% |
| Non-distributable reserves | 130/1 | €421 | €421 | = | 0.0% |
| Legal reserve | 130 | €421 | €421 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,007 | -€12,510 | -€20,517 | |
| Amounts payable | 17/49 | €191,582 | €368,751 | +€177,169 | +92.5% |
| Amounts payable within one year | 42/48 | €191,175 | €363,757 | +€172,582 | +90.3% |
| Trade debts | 44 | - | €1,160 | +€1,160 | |
| Suppliers | 440/4 | - | €1,160 | +€1,160 | |
| Other amounts payable | 47/48 | €191,175 | €362,597 | +€171,422 | +89.7% |
| Accrued charges and deferred income | 492/3 | €407 | €4,994 | +€4,587 | +1127.1% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€4,255 | -€6,796 | -€2,541 | -59.7% |
| Operating profit (loss) | 9901 | -€4,642 | -€7,196 | -€2,554 | -55.0% |
| Financial income | 75/76B | €15,000 | €0 | -€15,000 | -100.0% |
| Recurring financial income | 75 | €15,000 | €0 | -€15,000 | -100.0% |
| Financial charges | 65/66B | €1,929 | €11,214 | +€9,285 | +481.2% |
| Recurring financial charges | 65 | €1,929 | €11,214 | +€9,285 | +481.2% |
| Profit (loss) for the period before taxes | 9903 | €8,429 | -€18,410 | -€26,838 | |
| Income taxes | 67/77 | - | €2,107 | +€2,107 | |
| Profit (loss) for the period | 9904 | €8,429 | -€20,517 | -€28,945 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,429 | -€20,517 | -€28,945 |
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 12 October 2026 via checked.be.