SQUARECIRCLE: 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.
SQUARECIRCLE
Largest movements
- Receivables within one year -€12,187
down €12,187 (-84.9%), from €14,354 to €2,168
of which Trade receivables: -€12,100
- Cash -€11,992
down €11,992 (-26.8%), from €44,816 to €32,824
mainly Contributions, distributions and other (-€36,984) and Other debts (-€27,445)
- Deferred charges and accrued income -€1,744
down €1,744 (-40.1%), from €4,343 to €2,600
- Tangible fixed assets -€700
down €700 (-58.1%), from €1,204 to €504
- Other debts -€27,445
down €27,445 (-72.4%), from €37,929 to €10,484
- Tax, wage and social debts +€835
up €835 (+10.2%), from €8,177 to €9,012
- Gross operating margin +€936
up €936 (+2.0%), from €47,738 to €48,674
- Financial charges -€684
down €684 (-43.9%), from €1,558 to €874
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 | €64,718 | €38,096 | -€26,622 | -41.1% |
| Fixed assets | 21/28 | €1,204 | €504 | -€700 | -58.1% |
| Tangible fixed assets | 22/27 | €1,204 | €504 | -€700 | -58.1% |
| Plant, machinery and equipment | 23 | €1,204 | €504 | -€700 | -58.1% |
| Current assets | 29/58 | €63,514 | €37,591 | -€25,922 | -40.8% |
| Amounts receivable within one year | 40/41 | €14,354 | €2,168 | -€12,187 | -84.9% |
| Trade receivables | 40 | €12,100 | €0 | -€12,100 | -100.0% |
| Other amounts receivable | 41 | €2,254 | €2,168 | -€87 | -3.8% |
| Cash at bank and in hand | 54/58 | €44,816 | €32,824 | -€11,992 | -26.8% |
| Deferred charges and accrued income | 490/1 | €4,343 | €2,600 | -€1,744 | -40.1% |
| Total equity and liabilities | 10/49 | €64,718 | €38,096 | -€26,622 | -41.1% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €46,118 | €19,496 | -€26,622 | -57.7% |
| Amounts payable within one year | 42/48 | €46,118 | €19,496 | -€26,622 | -57.7% |
| Trade debts | 44 | €12 | €0 | -€12 | -100.0% |
| Suppliers | 440/4 | €12 | €0 | -€12 | -100.0% |
| Taxes, remuneration and social security | 45 | €8,177 | €9,012 | +€835 | +10.2% |
| Taxes | 450/3 | €8,177 | €9,012 | +€835 | +10.2% |
| Other amounts payable | 47/48 | €37,929 | €10,484 | -€27,445 | -72.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €700 | €700 | = | 0.0% |
| Other operating charges | 640/8 | €1,330 | €1,449 | +€118 | +8.9% |
| Gross operating margin | 9900 | €47,738 | €48,674 | +€936 | +2.0% |
| Operating profit (loss) | 9901 | €45,708 | €46,526 | +€818 | +1.8% |
| Financial income | 75/76B | €11 | €26 | +€15 | +141.2% |
| Recurring financial income | 75 | €11 | €26 | +€15 | +141.2% |
| Financial charges | 65/66B | €1,558 | €874 | -€684 | -43.9% |
| Recurring financial charges | 65 | €1,558 | €874 | -€684 | -43.9% |
| Profit (loss) for the period before taxes | 9903 | €44,161 | €45,677 | +€1,517 | +3.4% |
| Income taxes | 67/77 | €8,566 | €8,694 | +€127 | +1.5% |
| Profit (loss) for the period | 9904 | €35,594 | €36,984 | +€1,390 | +3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,594 | €36,984 | +€1,390 | +3.9% |
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 1 October 2026 via checked.be.