SQUARE PROJECTS: 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 PROJECTS
Largest movements
- Receivables within one year +€4,489
up €4,489 (+19.0%), from €23,643 to €28,132
of which Other amounts receivable: +€4,065
- Tangible fixed assets -€2,415
down €2,415 (-20.7%), from €11,685 to €9,270
of which Furniture and vehicles: -€1,726
- Cash +€1,247
up €1,247 (+11.3%), from €11,012 to €12,259
mainly Net result for the year (+€17,118) and Tax, wage and social debts (+€11,729)
- Other debts -€27,314
down €27,314 (-45.9%), from €59,455 to €32,141
- Profit (loss) carried forward +€17,118
up €17,118 (+49.9%), from -€34,336 to -€17,217
- Tax, wage and social debts +€11,729
up €11,729 (+185.9%), from €6,310 to €18,039
of which Taxes: +€6,684
- Current portion of long-term debt +€1,002
new in 2025: €1,002
- Trade debts +€787
up €787 (+7.9%), from €9,911 to €10,697
- Gross operating margin +€81,214
up €81,214 (+94.3%), from €86,084 to €167,298
- Staff costs +€32,249
up €32,249 (+28.2%), from €114,245 to €146,494
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 | €46,340 | €49,662 | +€3,321 | +7.2% |
| Fixed assets | 21/28 | €11,685 | €9,270 | -€2,415 | -20.7% |
| Tangible fixed assets | 22/27 | €11,685 | €9,270 | -€2,415 | -20.7% |
| Plant, machinery and equipment | 23 | €4,686 | €3,997 | -€689 | -14.7% |
| Furniture and vehicles | 24 | €6,999 | €5,273 | -€1,726 | -24.7% |
| Current assets | 29/58 | €34,655 | €40,391 | +€5,736 | +16.6% |
| Amounts receivable within one year | 40/41 | €23,643 | €28,132 | +€4,489 | +19.0% |
| Trade receivables | 40 | - | €424 | +€424 | |
| Other amounts receivable | 41 | €23,643 | €27,709 | +€4,065 | +17.2% |
| Cash at bank and in hand | 54/58 | €11,012 | €12,259 | +€1,247 | +11.3% |
| Total equity and liabilities | 10/49 | €46,340 | €49,662 | +€3,321 | +7.2% |
| Equity | 10/15 | -€29,336 | -€12,217 | +€17,118 | +58.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,336 | -€17,217 | +€17,118 | +49.9% |
| Amounts payable | 17/49 | €75,676 | €61,879 | -€13,797 | -18.2% |
| Amounts payable within one year | 42/48 | €75,676 | €61,879 | -€13,797 | -18.2% |
| Current portion of amounts payable after more than one year | 42 | - | €1,002 | +€1,002 | |
| Trade debts | 44 | €9,911 | €10,697 | +€787 | +7.9% |
| Suppliers | 440/4 | €9,911 | €10,697 | +€787 | +7.9% |
| Taxes, remuneration and social security | 45 | €6,310 | €18,039 | +€11,729 | +185.9% |
| Taxes | 450/3 | €434 | €7,118 | +€6,684 | +1540.5% |
| Remuneration and social security | 454/9 | €5,877 | €10,921 | +€5,045 | +85.8% |
| Other amounts payable | 47/48 | €59,455 | €32,141 | -€27,314 | -45.9% |
| Remuneration, social security and pensions | 62 | €114,245 | €146,494 | +€32,249 | +28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,645 | €2,415 | -€230 | -8.7% |
| Other operating charges | 640/8 | €856 | €741 | -€115 | -13.4% |
| Non-recurring operating charges | 66A | - | €64 | +€64 | |
| Gross operating margin | 9900 | €86,084 | €167,298 | +€81,214 | +94.3% |
| Operating profit (loss) | 9901 | -€31,662 | €17,584 | +€49,246 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €49 | €466 | +€417 | +860.6% |
| Recurring financial charges | 65 | €49 | €466 | +€417 | +860.6% |
| Profit (loss) for the period before taxes | 9903 | -€31,709 | €17,118 | +€48,827 | |
| Profit (loss) for the period | 9904 | -€31,709 | €17,118 | +€48,827 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,709 | €17,118 | +€48,827 |
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 7 October 2026 via checked.be.