D.S. BEHEER: 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.
D.S. BEHEER
Largest movements
- Current investments +€95,969
up €95,969 (+98.7%), from €97,273 to €193,242
- Tangible fixed assets -€65,090
down €65,090 (-6.0%), from €1.1m to €1.0m
- Receivables within one year +€29,800
up €29,800, from €0 to €29,800
of which Trade receivables: +€29,800
- Cash -€24,631
down €24,631 (-51.6%), from €47,727 to €23,096
mainly Current investments (-€95,969) and Receivables within one year (-€29,800)
- Reserves +€42,375
up €42,375 (+11.9%), from €355,286 to €397,661
of which Distributable reserves: +€40,256
- Financial income -€53,715
down €53,715 (-75.0%), from €71,596 to €17,881
- Gross operating margin +€24,072
up €24,072 (+23.3%), from €103,367 to €127,438
- Depreciation +€19,228
up €19,228 (+41.9%), from €45,862 to €65,090
- Taxes -€5,533
down €5,533 (-21.4%), from €25,889 to €20,356
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 | €1,230,127 | €1,266,175 | +€36,048 | +2.9% |
| Fixed assets | 21/28 | €1,085,127 | €1,020,037 | -€65,090 | -6.0% |
| Tangible fixed assets | 22/27 | €1,085,127 | €1,020,037 | -€65,090 | -6.0% |
| Land and buildings | 22 | €1,085,127 | €1,020,037 | -€65,090 | -6.0% |
| Current assets | 29/58 | €145,000 | €246,138 | +€101,138 | +69.8% |
| Amounts receivable within one year | 40/41 | €0 | €29,800 | +€29,800 | |
| Trade receivables | 40 | - | €29,800 | +€29,800 | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €97,273 | €193,242 | +€95,969 | +98.7% |
| Cash at bank and in hand | 54/58 | €47,727 | €23,096 | -€24,631 | -51.6% |
| Total equity and liabilities | 10/49 | €1,230,127 | €1,266,175 | +€36,048 | +2.9% |
| Equity | 10/15 | €1,195,286 | €1,237,661 | +€42,375 | +3.5% |
| Contributions | 10/11 | €840,000 | €840,000 | = | 0.0% |
| Capital | 10 | €840,000 | €840,000 | = | 0.0% |
| Issued capital | 100 | €840,000 | €840,000 | = | 0.0% |
| Reserves | 13 | €355,286 | €397,661 | +€42,375 | +11.9% |
| Non-distributable reserves | 130/1 | €32,698 | €34,817 | +€2,119 | +6.5% |
| Legal reserve | 130 | €32,698 | €34,817 | +€2,119 | +6.5% |
| Distributable reserves | 133 | €322,587 | €362,844 | +€40,256 | +12.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €34,841 | €28,515 | -€6,327 | -18.2% |
| Amounts payable within one year | 42/48 | €18,964 | €12,130 | -€6,834 | -36.0% |
| Taxes, remuneration and social security | 45 | €18,962 | €12,128 | -€6,834 | -36.0% |
| Taxes | 450/3 | €18,962 | €12,128 | -€6,834 | -36.0% |
| Other amounts payable | 47/48 | €2 | €2 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €15,877 | €16,384 | +€507 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,862 | €65,090 | +€19,228 | +41.9% |
| Other operating charges | 640/8 | €17,176 | €17,467 | +€291 | +1.7% |
| Gross operating margin | 9900 | €103,367 | €127,438 | +€24,072 | +23.3% |
| Operating profit (loss) | 9901 | €40,329 | €44,882 | +€4,553 | +11.3% |
| Financial income | 75/76B | €71,596 | €17,881 | -€53,715 | -75.0% |
| Recurring financial income | 75 | €71,596 | €17,881 | -€53,715 | -75.0% |
| Financial charges | 65/66B | €36 | €32 | -€4 | -11.1% |
| Recurring financial charges | 65 | €36 | €32 | -€4 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €111,889 | €62,731 | -€49,158 | -43.9% |
| Income taxes | 67/77 | €25,889 | €20,356 | -€5,533 | -21.4% |
| Profit (loss) for the period | 9904 | €86,000 | €42,375 | -€43,625 | -50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €86,000 | €42,375 | -€43,625 | -50.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.