SQUAREFLOW: 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.
SQUAREFLOW
Largest movements
- Receivables within one year +€414,723
up €414,723 (+83.6%), from €496,103 to €910,826
of which Trade receivables: +€404,692
- Stocks and contracts +€108,000
new in 2025: €108,000
- Deferred charges and accrued income +€31,539
up €31,539 (+119.8%), from €26,323 to €57,861
- Tangible fixed assets +€18,153
up €18,153 (+42.5%), from €42,723 to €60,876
of which Furniture and vehicles: +€18,253
- Contributions +€232,000
up €232,000 (+232.0%), from €100,000 to €332,000
- Trade debts +€211,113
up €211,113 (+89.3%), from €236,507 to €447,620
- Tax, wage and social debts +€135,367
up €135,367 (+71.7%), from €188,839 to €324,206
of which Remuneration and social security: +€115,225
- Profit (loss) carried forward +€118,258
up €118,258 (+55.5%), from -€213,021 to -€94,762
- Accrued charges and deferred income -€81,043
down €81,043 (-100.0%), from €81,043 to €0
- Gross operating margin +€796,122
up €796,122 (+70.7%), from €1.1m to €1.9m
- Staff costs +€715,779
up €715,779 (+72.4%), from €988,727 to €1.7m
- Taxes +€44,573
up €44,573 (+1858.9%), from €2,398 to €46,971
- Other operating charges -€33,166
down €33,166 (-98.6%), from €33,650 to €485
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 | €615,330 | €1,185,562 | +€570,233 | +92.7% |
| Fixed assets | 21/28 | €56,598 | €74,751 | +€18,153 | +32.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €42,723 | €60,876 | +€18,153 | +42.5% |
| Furniture and vehicles | 24 | €42,623 | €60,876 | +€18,253 | +42.8% |
| Other tangible fixed assets | 26 | €100 | €0 | -€100 | -100.0% |
| Financial fixed assets | 28 | €13,875 | €13,875 | = | 0.0% |
| Current assets | 29/58 | €558,732 | €1,110,811 | +€552,079 | +98.8% |
| Stocks and contracts in progress | 3 | - | €108,000 | +€108,000 | |
| Contracts in progress | 37 | - | €108,000 | +€108,000 | |
| Amounts receivable within one year | 40/41 | €496,103 | €910,826 | +€414,723 | +83.6% |
| Trade receivables | 40 | €466,103 | €870,795 | +€404,692 | +86.8% |
| Other amounts receivable | 41 | €30,000 | €40,031 | +€10,031 | +33.4% |
| Cash at bank and in hand | 54/58 | €36,307 | €34,124 | -€2,183 | -6.0% |
| Deferred charges and accrued income | 490/1 | €26,323 | €57,861 | +€31,539 | +119.8% |
| Total equity and liabilities | 10/49 | €615,330 | €1,185,562 | +€570,233 | +92.7% |
| Equity | 10/15 | -€113,021 | €237,238 | +€350,258 | |
| Contributions | 10/11 | €100,000 | €332,000 | +€232,000 | +232.0% |
| Capital | 10 | €100,000 | €332,000 | +€232,000 | +232.0% |
| Issued capital | 100 | €100,000 | €332,000 | +€232,000 | +232.0% |
| Profit (loss) carried forward | 14 | -€213,021 | -€94,762 | +€118,258 | +55.5% |
| Amounts payable | 17/49 | €728,350 | €948,325 | +€219,974 | +30.2% |
| Amounts payable after more than one year | 17 | €18,769 | €8,706 | -€10,063 | -53.6% |
| Financial debts | 170/4 | €18,769 | €8,706 | -€10,063 | -53.6% |
| Amounts payable within one year | 42/48 | €628,538 | €939,619 | +€311,080 | +49.5% |
| Current portion of amounts payable after more than one year | 42 | €9,660 | €10,063 | +€403 | +4.2% |
| Financial debts | 43 | €0 | €28 | +€28 | |
| Credit institutions | 430/8 | - | €28 | +€28 | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €236,507 | €447,620 | +€211,113 | +89.3% |
| Suppliers | 440/4 | €236,507 | €447,620 | +€211,113 | +89.3% |
| Taxes, remuneration and social security | 45 | €188,839 | €324,206 | +€135,367 | +71.7% |
| Taxes | 450/3 | €77,743 | €97,884 | +€20,141 | +25.9% |
| Remuneration and social security | 454/9 | €111,096 | €226,321 | +€115,225 | +103.7% |
| Other amounts payable | 47/48 | €193,533 | €157,703 | -€35,830 | -18.5% |
| Accrued charges and deferred income | 492/3 | €81,043 | €0 | -€81,043 | -100.0% |
| Non-recurring operating income | 76A | €0 | €1,757 | +€1,757 | |
| Remuneration, social security and pensions | 62 | €988,727 | €1,704,507 | +€715,779 | +72.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,173 | €20,575 | +€1,402 | +7.3% |
| Other operating charges | 640/8 | €33,650 | €485 | -€33,166 | -98.6% |
| Non-recurring operating charges | 66A | €0 | €6,619 | +€6,619 | |
| Gross operating margin | 9900 | €1,126,402 | €1,922,523 | +€796,122 | +70.7% |
| Operating profit (loss) | 9901 | €84,851 | €190,339 | +€105,487 | +124.3% |
| Financial income | 75/76B | €832 | €1,496 | +€665 | +79.9% |
| Recurring financial income | 75 | €832 | €1,496 | +€665 | +79.9% |
| Financial charges | 65/66B | €18,493 | €26,605 | +€8,112 | +43.9% |
| Recurring financial charges | 65 | €18,493 | €26,605 | +€8,112 | +43.9% |
| Profit (loss) for the period before taxes | 9903 | €67,190 | €165,229 | +€98,040 | +145.9% |
| Income taxes | 67/77 | €2,398 | €46,971 | +€44,573 | +1858.9% |
| Profit (loss) for the period | 9904 | €64,792 | €118,258 | +€53,466 | +82.5% |
| Profit (loss) for the period to be appropriated | 9905 | €64,792 | €118,258 | +€53,466 | +82.5% |
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.