SQUASH 22: 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.
SQUASH 22
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+110.1%), from €1.0m to €2.1m
of which Land and buildings: +€1.1m
- Receivables after one year -€150,000
down €150,000 (-93.2%), from €161,000 to €11,000
- Receivables within one year -€112,080
down €112,080 (-80.9%), from €138,544 to €26,464
of which Trade receivables: -€112,038
- Cash +€70,972
up €70,972 (+21.6%), from €328,777 to €399,749
mainly Debts after one year (+€939,720) and Receivables after one year (+€150,000)
- Debts after one year +€939,720
up €939,720 (+190.6%), from €493,122 to €1.4m
- Current portion of long-term debt +€47,236
up €47,236 (+81.2%), from €58,159 to €105,395
- Tax, wage and social debts -€34,201
down €34,201 (-28.8%), from €118,690 to €84,489
of which Taxes: -€49,441
- Profit (loss) carried forward -€33,717
down €33,717, from €7,648 to -€26,070
- Gross operating margin -€236,284
down €236,284 (-31.3%), from €754,520 to €518,235
- Taxes -€120,617
down €120,617 (-99.6%), from €121,062 to €446
- Other operating charges +€91,246
up €91,246 (+498.9%), from €18,288 to €109,533
- Staff costs +€52,584
up €52,584 (+18.3%), from €286,656 to €339,240
- Financial charges +€25,525
up €25,525 (+468.4%), from €5,449 to €30,974
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 | €1,677,729 | €2,602,687 | +€924,958 | +55.1% |
| Fixed assets | 21/28 | €1,009,399 | €2,119,425 | +€1.1m | +110.0% |
| Tangible fixed assets | 22/27 | €1,008,642 | €2,119,425 | +€1.1m | +110.1% |
| Land and buildings | 22 | €762,536 | €1,859,618 | +€1.1m | +143.9% |
| Plant, machinery and equipment | 23 | €204,959 | €183,032 | -€21,927 | -10.7% |
| Furniture and vehicles | 24 | €41,147 | €76,775 | +€35,628 | +86.6% |
| Financial fixed assets | 28 | €757 | - | -€757 | |
| Current assets | 29/58 | €668,330 | €483,263 | -€185,067 | -27.7% |
| Amounts receivable after more than one year | 29 | €161,000 | €11,000 | -€150,000 | -93.2% |
| Other amounts receivable | 291 | €161,000 | €11,000 | -€150,000 | -93.2% |
| Stocks and contracts in progress | 3 | €28,144 | €34,185 | +€6,041 | +21.5% |
| Stocks | 30/36 | €28,144 | €34,185 | +€6,041 | +21.5% |
| Amounts receivable within one year | 40/41 | €138,544 | €26,464 | -€112,080 | -80.9% |
| Trade receivables | 40 | €132,065 | €20,027 | -€112,038 | -84.8% |
| Other amounts receivable | 41 | €6,479 | €6,438 | -€41 | -0.6% |
| Cash at bank and in hand | 54/58 | €328,777 | €399,749 | +€70,972 | +21.6% |
| Deferred charges and accrued income | 490/1 | €11,865 | €11,865 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,677,729 | €2,602,687 | +€924,958 | +55.1% |
| Equity | 10/15 | €998,474 | €964,757 | -€33,717 | -3.4% |
| Contributions | 10/11 | €248,000 | €248,000 | = | 0.0% |
| Capital | 10 | €248,000 | €248,000 | = | 0.0% |
| Issued capital | 100 | €248,000 | €248,000 | = | 0.0% |
| Reserves | 13 | €742,827 | €742,827 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,800 | €24,800 | = | 0.0% |
| Legal reserve | 130 | €24,800 | €24,800 | = | 0.0% |
| Distributable reserves | 133 | €718,027 | €718,027 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,648 | -€26,070 | -€33,717 | |
| Amounts payable | 17/49 | €679,255 | €1,637,931 | +€958,676 | +141.1% |
| Amounts payable after more than one year | 17 | €493,122 | €1,432,842 | +€939,720 | +190.6% |
| Financial debts | 170/4 | €493,122 | €1,432,842 | +€939,720 | +190.6% |
| Amounts payable within one year | 42/48 | €186,133 | €205,089 | +€18,956 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €58,159 | €105,395 | +€47,236 | +81.2% |
| Trade debts | 44 | €9,284 | €15,205 | +€5,921 | +63.8% |
| Suppliers | 440/4 | €9,284 | €15,205 | +€5,921 | +63.8% |
| Taxes, remuneration and social security | 45 | €118,690 | €84,489 | -€34,201 | -28.8% |
| Taxes | 450/3 | €94,959 | €45,518 | -€49,441 | -52.1% |
| Remuneration and social security | 454/9 | €23,731 | €38,971 | +€15,240 | +64.2% |
| Remuneration, social security and pensions | 62 | €286,656 | €339,240 | +€52,584 | +18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,255 | €103,130 | +€19,875 | +23.9% |
| Other operating charges | 640/8 | €18,288 | €109,533 | +€91,246 | +498.9% |
| Gross operating margin | 9900 | €754,520 | €518,235 | -€236,284 | -31.3% |
| Operating profit (loss) | 9901 | €366,320 | -€33,668 | -€399,989 | |
| Financial income | 75/76B | €36,145 | €31,371 | -€4,774 | -13.2% |
| Recurring financial income | 75 | €35,644 | €29,915 | -€5,729 | -16.1% |
| Non-recurring financial income | 76B | €500 | €1,456 | +€955 | +190.9% |
| Financial charges | 65/66B | €5,449 | €30,974 | +€25,525 | +468.4% |
| Recurring financial charges | 65 | €5,449 | €30,974 | +€25,525 | +468.4% |
| Profit (loss) for the period before taxes | 9903 | €397,016 | -€33,272 | -€430,288 | |
| Income taxes | 67/77 | €121,062 | €446 | -€120,617 | -99.6% |
| Profit (loss) for the period | 9904 | €275,954 | -€33,717 | -€309,671 | |
| Profit (loss) for the period to be appropriated | 9905 | €275,954 | -€33,717 | -€309,671 |
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 30 September 2026 via checked.be.