SQUARE ONE: 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.
SQUARE ONE
Largest movements
- Receivables within one year +€30,624
up €30,624 (+35.0%), from €87,470 to €118,094
of which Other amounts receivable: +€41,498
- Tangible fixed assets -€7,356
down €7,356 (-26.0%), from €28,241 to €20,885
of which Land and buildings: -€6,860
- Cash +€6,793
up €6,793 (+3172.1%), from €214 to €7,008
mainly Net result for the year (+€35,916) and Depreciation (+€7,356)
- Reserves +€35,916
up €35,916 (+51.7%), from €69,485 to €105,401
- Debts after one year -€9,130
down €9,130 (-31.9%), from €28,614 to €19,484
- Short-term financial debts +€4,987
up €4,987 (+294.1%), from €1,696 to €6,683
- Trade debts -€2,278
down €2,278 (-71.7%), from €3,178 to €900
- Gross operating margin +€41,414
up €41,414 (+275.9%), from €15,008 to €56,422
- Taxes +€12,884
up €12,884 (+328.2%), from €3,925 to €16,809
- Financial income +€3,947
up €3,947 (+565.3%), from €698 to €4,645
- Financial charges -€3,221
down €3,221 (-93.4%), from €3,450 to €229
- Other operating charges -€1,261
down €1,261 (-62.5%), from €2,018 to €757
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 | €118,576 | €149,143 | +€30,567 | +25.8% |
| Fixed assets | 21/28 | €28,241 | €20,885 | -€7,356 | -26.0% |
| Tangible fixed assets | 22/27 | €28,241 | €20,885 | -€7,356 | -26.0% |
| Land and buildings | 22 | €26,898 | €20,037 | -€6,860 | -25.5% |
| Plant, machinery and equipment | 23 | €1,343 | €848 | -€496 | -36.9% |
| Current assets | 29/58 | €90,335 | €128,258 | +€37,923 | +42.0% |
| Amounts receivable within one year | 40/41 | €87,470 | €118,094 | +€30,624 | +35.0% |
| Trade receivables | 40 | €19,874 | €9,000 | -€10,874 | -54.7% |
| Other amounts receivable | 41 | €67,596 | €109,094 | +€41,498 | +61.4% |
| Cash at bank and in hand | 54/58 | €214 | €7,008 | +€6,793 | +3172.1% |
| Deferred charges and accrued income | 490/1 | €2,650 | €3,156 | +€506 | +19.1% |
| Total equity and liabilities | 10/49 | €118,576 | €149,143 | +€30,567 | +25.8% |
| Equity | 10/15 | €75,685 | €111,601 | +€35,916 | +47.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €69,485 | €105,401 | +€35,916 | +51.7% |
| Distributable reserves | 133 | €69,485 | €105,401 | +€35,916 | +51.7% |
| Amounts payable | 17/49 | €42,891 | €37,541 | -€5,349 | -12.5% |
| Amounts payable after more than one year | 17 | €28,614 | €19,484 | -€9,130 | -31.9% |
| Financial debts | 170/4 | €28,614 | €19,484 | -€9,130 | -31.9% |
| Amounts payable within one year | 42/48 | €14,276 | €17,987 | +€3,711 | +26.0% |
| Current portion of amounts payable after more than one year | 42 | €6,240 | €6,595 | +€356 | +5.7% |
| Financial debts | 43 | €1,696 | €6,683 | +€4,987 | +294.1% |
| Credit institutions | 430/8 | €1,696 | €6,683 | +€4,987 | +294.1% |
| Trade debts | 44 | €3,178 | €900 | -€2,278 | -71.7% |
| Suppliers | 440/4 | €3,178 | €900 | -€2,278 | -71.7% |
| Taxes, remuneration and social security | 45 | €3,163 | €3,809 | +€646 | +20.4% |
| Taxes | 450/3 | €3,163 | €3,809 | +€646 | +20.4% |
| Accrued charges and deferred income | 492/3 | - | €70 | +€70 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,004 | €7,356 | +€352 | +5.0% |
| Other operating charges | 640/8 | €2,018 | €757 | -€1,261 | -62.5% |
| Gross operating margin | 9900 | €15,008 | €56,422 | +€41,414 | +275.9% |
| Operating profit (loss) | 9901 | €5,987 | €48,310 | +€42,323 | +706.9% |
| Financial income | 75/76B | €698 | €4,645 | +€3,947 | +565.3% |
| Recurring financial income | 75 | €698 | €4,645 | +€3,947 | +565.3% |
| Financial charges | 65/66B | €3,450 | €229 | -€3,221 | -93.4% |
| Recurring financial charges | 65 | €3,450 | €229 | -€3,221 | -93.4% |
| Profit (loss) for the period before taxes | 9903 | €3,235 | €52,726 | +€49,491 | +1529.9% |
| Income taxes | 67/77 | €3,925 | €16,809 | +€12,884 | +328.2% |
| Profit (loss) for the period | 9904 | -€690 | €35,916 | +€36,607 | |
| Profit (loss) for the period to be appropriated | 9905 | -€690 | €35,916 | +€36,607 |
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 6 October 2026 via checked.be.