Y SQUARED: 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.
Y SQUARED
Largest movements
- Cash +€218,954
up €218,954 (+95.0%), from €230,558 to €449,512
mainly Net result for the year (+€227,249) and Tax, wage and social debts (+€98,833)
- Receivables within one year -€50,256
down €50,256 (-24.3%), from €207,058 to €156,802
of which Trade receivables: -€50,050
- Reserves +€199,411
up €199,411 (+141.5%), from €140,958 to €340,368
- Other debts -€144,678
down €144,678 (-83.9%), from €172,516 to €27,838
- Tax, wage and social debts +€98,833
up €98,833 (+114.7%), from €86,179 to €185,012
of which Taxes: +€78,008
- Trade debts +€8,353
up €8,353 (+17.2%), from €48,643 to €56,997
- Gross operating margin +€187,881
up €187,881 (+35.8%), from €524,477 to €712,358
- Staff costs +€80,605
up €80,605 (+25.1%), from €320,734 to €401,339
- Taxes +€64,819
up €64,819 (+519.7%), from €12,473 to €77,292
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 | €454,590 | €616,352 | +€161,763 | +35.6% |
| Fixed assets | 21/28 | €6,169 | €2,740 | -€3,429 | -55.6% |
| Tangible fixed assets | 22/27 | €5,184 | €1,755 | -€3,429 | -66.1% |
| Furniture and vehicles | 24 | €5,184 | €1,755 | -€3,429 | -66.1% |
| Financial fixed assets | 28 | €985 | €985 | = | 0.0% |
| Current assets | 29/58 | €448,420 | €613,612 | +€165,192 | +36.8% |
| Amounts receivable within one year | 40/41 | €207,058 | €156,802 | -€50,256 | -24.3% |
| Trade receivables | 40 | €206,807 | €156,756 | -€50,050 | -24.2% |
| Other amounts receivable | 41 | €251 | €46 | -€205 | -81.7% |
| Cash at bank and in hand | 54/58 | €230,558 | €449,512 | +€218,954 | +95.0% |
| Deferred charges and accrued income | 490/1 | €10,805 | €7,298 | -€3,506 | -32.5% |
| Total equity and liabilities | 10/49 | €454,590 | €616,352 | +€161,763 | +35.6% |
| Equity | 10/15 | €146,958 | €346,368 | +€199,411 | +135.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €140,958 | €340,368 | +€199,411 | +141.5% |
| Distributable reserves | 133 | €140,958 | €340,368 | +€199,411 | +141.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €307,632 | €269,984 | -€37,648 | -12.2% |
| Amounts payable within one year | 42/48 | €307,632 | €269,984 | -€37,648 | -12.2% |
| Financial debts | 43 | €294 | €137 | -€156 | -53.3% |
| Credit institutions | 430/8 | €294 | €137 | -€156 | -53.3% |
| Trade debts | 44 | €48,643 | €56,997 | +€8,353 | +17.2% |
| Suppliers | 440/4 | €48,643 | €56,997 | +€8,353 | +17.2% |
| Taxes, remuneration and social security | 45 | €86,179 | €185,012 | +€98,833 | +114.7% |
| Taxes | 450/3 | €51,951 | €129,960 | +€78,008 | +150.2% |
| Remuneration and social security | 454/9 | €34,227 | €55,053 | +€20,825 | +60.8% |
| Other amounts payable | 47/48 | €172,516 | €27,838 | -€144,678 | -83.9% |
| Remuneration, social security and pensions | 62 | €320,734 | €401,339 | +€80,605 | +25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,431 | €3,429 | -€2 | -0.1% |
| Other operating charges | 640/8 | €168 | €218 | +€50 | +30.1% |
| Gross operating margin | 9900 | €524,477 | €712,358 | +€187,881 | +35.8% |
| Operating profit (loss) | 9901 | €200,144 | €307,372 | +€107,228 | +53.6% |
| Financial income | 75/76B | €1,988 | €2,519 | +€531 | +26.7% |
| Recurring financial income | 75 | €1,988 | €2,519 | +€531 | +26.7% |
| Financial charges | 65/66B | €5,852 | €5,350 | -€502 | -8.6% |
| Recurring financial charges | 65 | €5,852 | €5,350 | -€502 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €196,280 | €304,540 | +€108,261 | +55.2% |
| Income taxes | 67/77 | €12,473 | €77,292 | +€64,819 | +519.7% |
| Profit (loss) for the period | 9904 | €183,807 | €227,249 | +€43,442 | +23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €183,807 | €227,249 | +€43,442 | +23.6% |
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 5 October 2026 via checked.be.