SquareL: 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.
SquareL
Largest movements
- Cash +€34,946
up €34,946 (+158%), from €22,139 to €57,085
mainly Other debts (+€56,176) and Net result for the year (+€45,454)
- Receivables within one year +€13,099
up €13,099 (+18.3%), from €71,667 to €84,766
of which Trade receivables: +€13,280
- Tangible fixed assets -€12,031
down €12,031 (-12.1%), from €99,601 to €87,569
of which Furniture and vehicles: -€6,613
- Other debts +€56,176
up €56,176 (+452%), from €12,429 to €68,605
- Reserves -€23,150
down €23,150 (-19.7%), from €117,709 to €94,558
- Tax, wage and social debts +€8,334
up €8,334 (+136%), from €6,123 to €14,458
of which Taxes: +€6,214
- Debts after one year -€5,648
down €5,648 (-15.6%), from €36,220 to €30,572
- Gross operating margin +€16,361
up €16,361 (+25.0%), from €65,363 to €81,724
- Taxes +€4,652
up €4,652 (+33.0%), from €14,117 to €18,769
- Depreciation -€1,197
down €1,197 (-6.9%), from €17,328 to €16,130
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.
Derived cash bridge
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 | €195,568 | €231,259 | +€35,691 | +18.2% |
| Fixed assets | 21/28 | €99,716 | €87,684 | -€12,031 | -12.1% |
| Tangible fixed assets | 22/27 | €99,601 | €87,569 | -€12,031 | -12.1% |
| Land and buildings | 22 | €74,415 | €69,064 | -€5,350 | -7.2% |
| Furniture and vehicles | 24 | €20,036 | €13,423 | -€6,613 | -33.0% |
| Leasing and similar rights | 25 | €5,150 | €5,082 | -€68 | -1.3% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €95,852 | €143,574 | +€47,722 | +49.8% |
| Amounts receivable within one year | 40/41 | €71,667 | €84,766 | +€13,099 | +18.3% |
| Trade receivables | 40 | €19,269 | €32,549 | +€13,280 | +68.9% |
| Other amounts receivable | 41 | €52,397 | €52,217 | -€181 | -0.3% |
| Cash at bank and in hand | 54/58 | €22,139 | €57,085 | +€34,946 | +158% |
| Deferred charges and accrued income | 490/1 | €2,047 | €1,723 | -€323 | -15.8% |
| Total equity and liabilities | 10/49 | €195,568 | €231,259 | +€35,691 | +18.2% |
| Equity | 10/15 | €123,909 | €100,758 | -€23,150 | -18.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €117,709 | €94,558 | -€23,150 | -19.7% |
| Distributable reserves | 133 | €117,709 | €94,558 | -€23,150 | -19.7% |
| Amounts payable | 17/49 | €71,659 | €130,500 | +€58,841 | +82.1% |
| Amounts payable after more than one year | 17 | €36,220 | €30,572 | -€5,648 | -15.6% |
| Financial debts | 170/4 | €36,220 | €30,572 | -€5,648 | -15.6% |
| Amounts payable within one year | 42/48 | €35,439 | €99,928 | +€64,489 | +182% |
| Current portion of amounts payable after more than one year | 42 | €5,469 | €5,648 | +€179 | +3.3% |
| Trade debts | 44 | €11,417 | €11,217 | -€199 | -1.7% |
| Suppliers | 440/4 | €11,417 | €11,217 | -€199 | -1.7% |
| Taxes, remuneration and social security | 45 | €6,123 | €14,458 | +€8,334 | +136% |
| Taxes | 450/3 | €6,123 | €12,337 | +€6,214 | +101% |
| Remuneration and social security | 454/9 | - | €2,121 | +€2,121 | |
| Other amounts payable | 47/48 | €12,429 | €68,605 | +€56,176 | +452% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,328 | €16,130 | -€1,197 | -6.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | - | €410 | +€410 | |
| Gross operating margin | 9900 | €65,363 | €81,724 | +€16,361 | +25.0% |
| Operating profit (loss) | 9901 | €47,648 | €64,784 | +€17,137 | +36.0% |
| Financial income | 75/76B | €201 | €893 | +€691 | +343% |
| Recurring financial income | 75 | €201 | €893 | +€691 | +343% |
| Financial charges | 65/66B | €1,656 | €1,453 | -€203 | -12.2% |
| Recurring financial charges | 65 | €1,656 | €1,453 | -€203 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €46,193 | €64,224 | +€18,031 | +39.0% |
| Income taxes | 67/77 | €14,117 | €18,769 | +€4,652 | +33.0% |
| Profit (loss) for the period | 9904 | €32,076 | €45,454 | +€13,379 | +41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,076 | €45,454 | +€13,379 | +41.7% |
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 14 October 2026 via checked.be.