Squaredev: 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.
Squaredev
Largest movements
- Cash +€731,276
up €731,276 (+516.4%), from €141,613 to €872,889
mainly Contributions, distributions and other (+€1.0m) and Receivables after one year (+€386,359)
- Receivables after one year -€386,359
down €386,359 (-38.0%), from €1.0m to €629,106
of which Other amounts receivable: -€1.0m
- Intangible fixed assets +€64,932
new in 2025: €64,932
- Tangible fixed assets +€24,806
up €24,806 (+143.1%), from €17,332 to €42,138
of which Plant, machinery and equipment: +€15,887
- Other debts -€1.1m
down €1.1m (-97.1%), from €1.1m to €32,094
- Contributions +€1.0m
up €1.0m (+16129.0%), from €6,200 to €1.0m
- Accrued charges and deferred income +€256,504
up €256,504 (+1149.1%), from €22,322 to €278,826
- Trade debts +€147,971
up €147,971 (+1496.5%), from €9,888 to €157,859
- Tax, wage and social debts +€71,883
up €71,883 (+105.6%), from €68,103 to €139,986
of which Remuneration and social security: +€55,148
- Staff costs +€639,591
up €639,591, from -€2,899 to €636,692
- Gross operating margin +€616,193
up €616,193 (+626.8%), from €98,310 to €714,504
- Other operating charges +€13,335
up €13,335 (+2028.6%), from €657 to €13,992
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 | €1,221,949 | €1,672,396 | +€450,447 | +36.9% |
| Fixed assets | 21/28 | €19,457 | €109,194 | +€89,737 | +461.2% |
| Intangible fixed assets | 21 | - | €64,932 | +€64,932 | |
| Tangible fixed assets | 22/27 | €17,332 | €42,138 | +€24,806 | +143.1% |
| Plant, machinery and equipment | 23 | - | €15,887 | +€15,887 | |
| Furniture and vehicles | 24 | €17,332 | €26,251 | +€8,919 | +51.5% |
| Financial fixed assets | 28 | €2,125 | €2,125 | = | 0.0% |
| Current assets | 29/58 | €1,202,492 | €1,563,202 | +€360,709 | +30.0% |
| Amounts receivable after more than one year | 29 | €1,015,465 | €629,106 | -€386,359 | -38.0% |
| Trade receivables | 290 | - | €629,106 | +€629,106 | |
| Other amounts receivable | 291 | €1,015,465 | - | -€1.0m | |
| Amounts receivable within one year | 40/41 | €45,414 | €61,206 | +€15,792 | +34.8% |
| Trade receivables | 40 | €37,677 | €51,167 | +€13,490 | +35.8% |
| Other amounts receivable | 41 | €7,737 | €10,039 | +€2,302 | +29.8% |
| Cash at bank and in hand | 54/58 | €141,613 | €872,889 | +€731,276 | +516.4% |
| Total equity and liabilities | 10/49 | €1,221,949 | €1,672,396 | +€450,447 | +36.9% |
| Equity | 10/15 | €29,717 | €1,063,630 | +€1.0m | +3479.2% |
| Contributions | 10/11 | €6,200 | €1,006,200 | +€1.0m | +16129.0% |
| Reserves | 13 | €11,958 | €11,958 | = | 0.0% |
| Distributable reserves | 133 | €11,958 | €11,958 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,559 | €45,472 | +€33,913 | +293.4% |
| Amounts payable | 17/49 | €1,192,232 | €608,766 | -€583,467 | -48.9% |
| Amounts payable within one year | 42/48 | €1,169,910 | €329,939 | -€839,971 | -71.8% |
| Trade debts | 44 | €9,888 | €157,859 | +€147,971 | +1496.5% |
| Suppliers | 440/4 | €9,888 | €157,859 | +€147,971 | +1496.5% |
| Taxes, remuneration and social security | 45 | €68,103 | €139,986 | +€71,883 | +105.6% |
| Taxes | 450/3 | €22,899 | €39,633 | +€16,735 | +73.1% |
| Remuneration and social security | 454/9 | €45,205 | €100,353 | +€55,148 | +122.0% |
| Other amounts payable | 47/48 | €1,091,919 | €32,094 | -€1.1m | -97.1% |
| Accrued charges and deferred income | 492/3 | €22,322 | €278,826 | +€256,504 | +1149.1% |
| Remuneration, social security and pensions | 62 | -€2,899 | €636,692 | +€639,591 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,080 | €11,677 | -€403 | -3.3% |
| Other operating charges | 640/8 | €657 | €13,992 | +€13,335 | +2028.6% |
| Non-recurring operating charges | 66A | €25,340 | €10,233 | -€15,107 | -59.6% |
| Gross operating margin | 9900 | €98,310 | €714,504 | +€616,193 | +626.8% |
| Operating profit (loss) | 9901 | €63,132 | €41,910 | -€21,223 | -33.6% |
| Financial income | 75/76B | €15 | €1 | -€13 | -90.6% |
| Recurring financial income | 75 | €15 | €1 | -€13 | -90.6% |
| Financial charges | 65/66B | €609 | €2,790 | +€2,181 | +357.9% |
| Recurring financial charges | 65 | €609 | €2,790 | +€2,181 | +357.9% |
| Profit (loss) for the period before taxes | 9903 | €62,538 | €39,121 | -€23,417 | -37.4% |
| Income taxes | 67/77 | - | €5,208 | +€5,208 | |
| Profit (loss) for the period | 9904 | €62,538 | €33,913 | -€28,624 | -45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €62,538 | €33,913 | -€28,624 | -45.8% |
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 8 October 2026 via checked.be.