Treesquare: 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.
What changed
Treesquare
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€305,135
2024 · -€583,249+€278,114
Equity
€13.8m
2024 · €14.1m-€305,135
Cash
€2.4m
2024 · €2.2m+€208,712
Balance sheet total
€51.7m
2024 · €51.8m-€193,468
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial charges -€219,092
down €219,092 (-12.4%), from €1.8m to €1.6m
- Other operating income -€109,090
down €109,090 (-19.2%), from €568,269 to €459,179
- Other operating charges -€106,120
down €106,120 (-18.6%), from €572,012 to €465,892
- Turnover +€57,069
up €57,069 (+2.5%), from €2.3m to €2.3m
- Depreciation -€44,176
down €44,176 (-6.1%), from €720,981 to €676,805
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.
Result 2024
-€583,249
Turnover
+€57,069
Other operating income
-€109,090
Services and other goods
-€44,151
Depreciation
+€44,176
Other operating charges
+€106,120
Financial income
-€4,864
Financial charges
+€219,092
Taxes
+€9,761
Result 2025
-€305,135
raises the resultlowers the result
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.
From operations
+€380,323
Investment
-€171,611
Financing
€0
Cash 2024
€2.2m
From operations (derived)
+€380,323
Net result for the year
-€305,135
Depreciation
+€676,805
Receivables within one year
-€173,119
Deferred charges and accrued income
+€70,105
Trade debts
+€219,655
Tax, wage and social debts
-€10,788
Accrued charges and deferred income
-€97,201
Investment (derived)
-€171,611
Investment in fixed assets (net)
-€171,611
Cash 2025
€2.4m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,844,984 | €51,651,516 | -€193,468 | -0.4% |
| Formation expenses | 20 | €458,873 | €331,747 | -€127,126 | -27.7% |
| Fixed assets | 21/28 | €48,751,430 | €48,373,362 | -€378,068 | -0.8% |
| Tangible fixed assets | 22/27 | €48,751,430 | €48,373,362 | -€378,068 | -0.8% |
| Land and buildings | 22 | €48,751,430 | €48,373,362 | -€378,068 | -0.8% |
| Current assets | 29/58 | €2,634,681 | €2,946,407 | +€311,725 | +11.8% |
| Amounts receivable within one year | 40/41 | €117,590 | €290,709 | +€173,119 | +147% |
| Trade receivables | 40 | €58,328 | €231,447 | +€173,119 | +297% |
| Other amounts receivable | 41 | €59,262 | €59,262 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,161,263 | €2,369,975 | +€208,712 | +9.7% |
| Deferred charges and accrued income | 490/1 | €355,829 | €285,723 | -€70,105 | -19.7% |
| Total equity and liabilities | 10/49 | €51,844,984 | €51,651,516 | -€193,468 | -0.4% |
| Equity | 10/15 | €14,076,182 | €13,771,047 | -€305,135 | -2.2% |
| Contributions | 10/11 | €14,900,000 | €14,900,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€823,818 | -€1,128,953 | -€305,135 | -37.0% |
| Amounts payable | 17/49 | €37,768,802 | €37,880,469 | +€111,667 | +0.3% |
| Amounts payable after more than one year | 17 | €36,150,686 | €36,150,686 | = | 0.0% |
| Financial debts | 170/4 | €36,000,000 | €36,000,000 | = | 0.0% |
| Credit institutions | 173 | €20,000,000 | €20,000,000 | = | 0.0% |
| Other loans | 174 | €16,000,000 | €16,000,000 | = | 0.0% |
| Other amounts payable | 178/9 | €150,686 | €150,686 | = | 0.0% |
| Amounts payable within one year | 42/48 | €288,065 | €496,932 | +€208,868 | +72.5% |
| Trade debts | 44 | €276,877 | €496,533 | +€219,655 | +79.3% |
| Suppliers | 440/4 | €276,877 | €496,533 | +€219,655 | +79.3% |
| Taxes, remuneration and social security | 45 | €11,187 | €400 | -€10,788 | -96.4% |
| Taxes | 450/3 | €11,187 | €400 | -€10,788 | -96.4% |
| Accrued charges and deferred income | 492/3 | €1,330,052 | €1,232,851 | -€97,201 | -7.3% |
| Operating income | 70/76A | €2,818,802 | €2,766,781 | -€52,021 | -1.8% |
| Turnover | 70 | €2,250,534 | €2,307,603 | +€57,069 | +2.5% |
| Other operating income | 74 | €568,269 | €459,179 | -€109,090 | -19.2% |
| Operating charges | 60/66A | €1,646,936 | €1,540,790 | -€106,146 | -6.4% |
| Services and other goods | 61 | €353,943 | €398,093 | +€44,151 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €720,981 | €676,805 | -€44,176 | -6.1% |
| Other operating charges | 640/8 | €572,012 | €465,892 | -€106,120 | -18.6% |
| Operating profit (loss) | 9901 | €1,171,867 | €1,225,991 | +€54,125 | +4.6% |
| Financial income | 75/76B | €25,208 | €20,344 | -€4,864 | -19.3% |
| Recurring financial income | 75 | €25,208 | €20,344 | -€4,864 | -19.3% |
| Income from current assets | 751 | €25,208 | €20,344 | -€4,864 | -19.3% |
| Financial charges | 65/66B | €1,772,761 | €1,553,669 | -€219,092 | -12.4% |
| Recurring financial charges | 65 | €1,772,761 | €1,553,669 | -€219,092 | -12.4% |
| Debt charges | 650 | €1,767,172 | €1,547,987 | -€219,185 | -12.4% |
| Other financial charges | 652/9 | €5,589 | €5,682 | +€93 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | -€575,686 | -€307,333 | +€268,353 | +46.6% |
| Income taxes | 67/77 | €7,562 | -€2,199 | -€9,761 | |
| Taxes | 670/3 | €7,562 | €5,364 | -€2,199 | -29.1% |
| Tax adjustments and reversals of tax provisions | 77 | - | €7,562 | +€7,562 | |
| Profit (loss) for the period | 9904 | -€583,249 | -€305,135 | +€278,114 | +47.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€583,249 | -€305,135 | +€278,114 | +47.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.