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Square-t: 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.

What changed

Square-t

BE 0794.829.777
NACE 43.320, Joinery installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€15,623
2024 · -€22,119+€6,497
Equity
-€52,907
2024 · -€37,284-€15,623
Cash
€8,541
2024 · €2,394+€6,147
Balance sheet total
€240,880
2024 · €254,868-€13,988

Largest movements

2024 to 2025
Assets
  • Tangible fixed assets -€17,479

    down €17,479 (-33.8%), from €51,671 to €34,192

  • Cash +€6,147

    up €6,147 (+257%), from €2,394 to €8,541

    mainly Depreciation (+€17,479) and Advances received (+€5,630)

  • Deferred charges and accrued income -€3,331

    down €3,331 (-88.9%), from €3,748 to €418

Equity and liabilities
  • Profit (loss) carried forward -€15,623

    down €15,623 (-36.9%), from -€42,284 to -€57,907

  • Debts after one year -€7,667

    down €7,667 (-2.8%), from €274,102 to €266,435

  • Advances received +€5,630

    new in 2025: €5,630

  • Other debts +€4,896

    up €4,896 (+84.2%), from €5,812 to €10,707

  • Trade debts -€2,808

    down €2,808 (-35.6%), from €7,886 to €5,077

Income statement
  • Gross operating margin +€6,980

    up €6,980, from -€241 to €6,738

  • Financial charges +€1,180

    up €1,180 (+44.3%), from €2,665 to €3,845

  • Other operating charges -€682

    down €682 (-45.0%), from €1,514 to €832

From the 2024 result to the 2025 result

effect on the 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.

Result 2024 -€22,119
Gross operating margin +€6,980
Other operating charges +€682
Financial income -€0
Financial charges -€1,180
Taxes +€16
Result 2025 -€15,623
raises the resultlowers the result

Derived cash bridge

cash 2024 to 2025

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.

From operations +€13,813
Investment €0
Financing -€7,667
Cash 2024 €2,394
Net result for the year -€15,623
Depreciation +€17,479
Receivables within one year -€676
Deferred charges and accrued income +€3,331
Trade debts -€2,808
Tax, wage and social debts +€1,584
Advances received +€5,630
Other debts +€4,896
Debts after one year -€7,667
Cash 2025 €8,541
brings cash intakes cash out
Every line side by side 37 lines
Line Code 2024 2025 Change %
Total assets 20/58 €254,868 €240,880 -€13,988 -5.5%
Fixed assets 21/28 €238,664 €221,185 -€17,479 -7.3%
Tangible fixed assets 22/27 €51,671 €34,192 -€17,479 -33.8%
Furniture and vehicles 24 €51,671 €34,192 -€17,479 -33.8%
Financial fixed assets 28 €186,993 €186,993 = 0.0%
Current assets 29/58 €16,204 €19,695 +€3,491 +21.5%
Amounts receivable within one year 40/41 €10,061 €10,737 +€676 +6.7%
Trade receivables 40 €10,061 €10,737 +€676 +6.7%
Other amounts receivable 41 €0 - =
Cash at bank and in hand 54/58 €2,394 €8,541 +€6,147 +257%
Deferred charges and accrued income 490/1 €3,748 €418 -€3,331 -88.9%
Total equity and liabilities 10/49 €254,868 €240,880 -€13,988 -5.5%
Equity 10/15 -€37,284 -€52,907 -€15,623 -41.9%
Contributions 10/11 €5,000 €5,000 = 0.0%
Profit (loss) carried forward 14 -€42,284 -€57,907 -€15,623 -36.9%
Amounts payable 17/49 €292,152 €293,787 +€1,635 +0.6%
Amounts payable after more than one year 17 €274,102 €266,435 -€7,667 -2.8%
Other amounts payable 178/9 €274,102 €266,435 -€7,667 -2.8%
Amounts payable within one year 42/48 €18,050 €27,352 +€9,302 +51.5%
Trade debts 44 €7,886 €5,077 -€2,808 -35.6%
Suppliers 440/4 €7,886 €5,077 -€2,808 -35.6%
Advances received on contracts in progress 46 - €5,630 +€5,630
Taxes, remuneration and social security 45 €4,353 €5,937 +€1,584 +36.4%
Taxes 450/3 €4,353 €5,937 +€1,584 +36.4%
Other amounts payable 47/48 €5,812 €10,707 +€4,896 +84.2%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €17,479 €17,479 = 0.0%
Other operating charges 640/8 €1,514 €832 -€682 -45.0%
Gross operating margin 9900 -€241 €6,738 +€6,980
Operating profit (loss) 9901 -€19,234 -€11,573 +€7,661 +39.8%
Financial income 75/76B €0 €0 -€0 -100%
Recurring financial income 75 €0 €0 -€0 -100%
Financial charges 65/66B €2,665 €3,845 +€1,180 +44.3%
Recurring financial charges 65 €2,665 €3,845 +€1,180 +44.3%
Profit (loss) for the period before taxes 9903 -€21,899 -€15,418 +€6,481 +29.6%
Income taxes 67/77 €220 €205 -€16 -7.2%
Profit (loss) for the period 9904 -€22,119 -€15,623 +€6,497 +29.4%
Profit (loss) for the period to be appropriated 9905 -€22,119 -€15,623 +€6,497 +29.4%

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 28 October 2026 via checked.be.