Square Equity: 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.
Square Equity
Largest movements
- Cash +€178,437
up €178,437 (+36.4%), from €490,193 to €668,630
mainly Short-term financial debts (+€154,000) and Depreciation (+€101,336)
- Tangible fixed assets -€99,852
down €99,852 (-6.1%), from €1.6m to €1.5m
of which Land and buildings: -€96,417
- Short-term financial debts +€154,000
up €154,000 (+6.1%), from €2.5m to €2.7m
- Debts after one year -€49,333
down €49,333 (-5.7%), from €869,102 to €819,770
- Financial charges -€25,363
down €25,363 (-18.3%), from €138,568 to €113,205
- Depreciation -€18,535
down €18,535 (-15.5%), from €119,871 to €101,336
- Gross operating margin +€2,304
up €2,304 (+1.2%), from €195,154 to €197,458
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 | €3,874,273 | €3,951,122 | +€76,850 | +2.0% |
| Fixed assets | 21/28 | €3,331,665 | €3,230,329 | -€101,336 | -3.0% |
| Intangible fixed assets | 21 | €1,484 | - | -€1,484 | |
| Tangible fixed assets | 22/27 | €1,647,615 | €1,547,762 | -€99,852 | -6.1% |
| Land and buildings | 22 | €1,644,179 | €1,547,762 | -€96,417 | -5.9% |
| Furniture and vehicles | 24 | €3,436 | - | -€3,436 | |
| Financial fixed assets | 28 | €1,682,567 | €1,682,567 | = | 0.0% |
| Current assets | 29/58 | €542,607 | €720,793 | +€178,186 | +32.8% |
| Amounts receivable within one year | 40/41 | €49,148 | €45,457 | -€3,691 | -7.5% |
| Trade receivables | 40 | €1,537 | €61 | -€1,476 | -96.0% |
| Other amounts receivable | 41 | €47,611 | €45,396 | -€2,215 | -4.7% |
| Cash at bank and in hand | 54/58 | €490,193 | €668,630 | +€178,437 | +36.4% |
| Deferred charges and accrued income | 490/1 | €3,266 | €6,706 | +€3,440 | +105% |
| Total equity and liabilities | 10/49 | €3,874,273 | €3,951,122 | +€76,850 | +2.0% |
| Equity | 10/15 | €384,117 | €364,854 | -€19,263 | -5.0% |
| Contributions | 10/11 | €630,000 | €630,000 | = | 0.0% |
| Reserves | 13 | €110,126 | €110,126 | = | 0.0% |
| Non-distributable reserves | 130/1 | €63,000 | €63,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €63,000 | €63,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €80 | €80 | = | 0.0% |
| Distributable reserves | 133 | €47,046 | €47,046 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€356,009 | -€375,272 | -€19,263 | -5.4% |
| Amounts payable | 17/49 | €3,490,156 | €3,586,269 | +€96,113 | +2.8% |
| Amounts payable after more than one year | 17 | €869,102 | €819,770 | -€49,333 | -5.7% |
| Financial debts | 170/4 | €869,102 | €819,770 | -€49,333 | -5.7% |
| Amounts payable within one year | 42/48 | €2,605,538 | €2,745,669 | +€140,131 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €60,780 | €49,333 | -€11,447 | -18.8% |
| Financial debts | 43 | €2,506,000 | €2,660,000 | +€154,000 | +6.1% |
| Other loans | 439 | €2,506,000 | €2,660,000 | +€154,000 | +6.1% |
| Trade debts | 44 | €844 | €395 | -€449 | -53.3% |
| Suppliers | 440/4 | €844 | €395 | -€449 | -53.3% |
| Other amounts payable | 47/48 | €37,914 | €35,942 | -€1,973 | -5.2% |
| Accrued charges and deferred income | 492/3 | €15,515 | €20,830 | +€5,315 | +34.3% |
| Remuneration, social security and pensions | 62 | €30 | - | -€30 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,871 | €101,336 | -€18,535 | -15.5% |
| Other operating charges | 640/8 | €12,085 | €10,266 | -€1,819 | -15.1% |
| Gross operating margin | 9900 | €195,154 | €197,458 | +€2,304 | +1.2% |
| Operating profit (loss) | 9901 | €63,168 | €85,856 | +€22,688 | +35.9% |
| Financial income | 75/76B | €7,511 | €8,086 | +€576 | +7.7% |
| Recurring financial income | 75 | €7,511 | €8,086 | +€576 | +7.7% |
| Financial charges | 65/66B | €138,568 | €113,205 | -€25,363 | -18.3% |
| Recurring financial charges | 65 | €138,568 | €113,205 | -€25,363 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | -€67,889 | -€19,263 | +€48,626 | +71.6% |
| Profit (loss) for the period | 9904 | -€67,889 | -€19,263 | +€48,626 | +71.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€67,889 | -€19,263 | +€48,626 | +71.6% |
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 15 October 2026 via checked.be.