D.S.D.: 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.
D.S.D.
Largest movements
- Current investments +€287,000
new in 2025: €287,000
- Receivables within one year +€114,210
up €114,210 (+14450.0%), from €790 to €115,000
- Cash -€7,235
down €7,235 (-82.3%), from €8,786 to €1,552
mainly Current investments (-€287,000) and Receivables within one year (-€114,210)
- Reserves +€343,684
new in 2025: €343,684
- Provisions +€114,561
new in 2025: €114,561
- Debts after one year -€33,500
no longer reported in 2025 (was €33,500)
- Profit (loss) carried forward -€25,536
down €25,536 (-27.0%), from -€94,497 to -€120,033
- Trade debts -€10,602
no longer reported in 2025 (was €10,602)
- Financial income +€458,245
new in 2025: €458,245
of which Financial income: +€458,245
- Gross operating margin -€19,195
down €19,195, from €1,790 to -€17,405
- Depreciation -€2,532
down €2,532 (-43.7%), from €5,799 to €3,268
- Other operating charges -€1,590
down €1,590 (-25.3%), from €6,296 to €4,706
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 | €23,503 | €414,210 | +€390,707 | +1662.4% |
| Fixed assets | 21/28 | €13,926 | €10,658 | -€3,268 | -23.5% |
| Tangible fixed assets | 22/27 | €13,926 | €10,658 | -€3,268 | -23.5% |
| Land and buildings | 22 | €12,790 | €10,000 | -€2,790 | -21.8% |
| Plant, machinery and equipment | 23 | €1,136 | €658 | -€478 | -42.1% |
| Current assets | 29/58 | €9,577 | €403,552 | +€393,975 | +4113.9% |
| Amounts receivable within one year | 40/41 | €790 | €115,000 | +€114,210 | +14450.0% |
| Other amounts receivable | 41 | €790 | €115,000 | +€114,210 | +14450.0% |
| Current investments | 50/53 | - | €287,000 | +€287,000 | |
| Cash at bank and in hand | 54/58 | €8,786 | €1,552 | -€7,235 | -82.3% |
| Total equity and liabilities | 10/49 | €23,503 | €414,210 | +€390,707 | +1662.4% |
| Equity | 10/15 | -€26,497 | €291,651 | +€318,148 | |
| Contributions | 10/11 | €68,000 | €68,000 | = | 0.0% |
| Capital | 10 | €68,000 | €68,000 | = | 0.0% |
| Issued capital | 100 | €68,000 | €68,000 | = | 0.0% |
| Reserves | 13 | - | €343,684 | +€343,684 | |
| Tax-exempt reserves | 132 | - | €343,684 | +€343,684 | |
| Profit (loss) carried forward | 14 | -€94,497 | -€120,033 | -€25,536 | -27.0% |
| Provisions and deferred taxes | 16 | - | €114,561 | +€114,561 | |
| Provisions for liabilities and charges | 160/5 | - | €114,561 | +€114,561 | |
| Taxes | 161 | - | €114,561 | +€114,561 | |
| Amounts payable | 17/49 | €49,999 | €7,998 | -€42,002 | -84.0% |
| Amounts payable after more than one year | 17 | €33,500 | - | -€33,500 | |
| Financial debts | 170/4 | €33,500 | - | -€33,500 | |
| Amounts payable within one year | 42/48 | €16,499 | €7,998 | -€8,502 | -51.5% |
| Trade debts | 44 | €10,602 | - | -€10,602 | |
| Suppliers | 440/4 | €10,602 | - | -€10,602 | |
| Advances received on contracts in progress | 46 | €3,701 | - | -€3,701 | |
| Other amounts payable | 47/48 | €2,197 | €7,998 | +€5,801 | +264.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,799 | €3,268 | -€2,532 | -43.7% |
| Other operating charges | 640/8 | €6,296 | €4,706 | -€1,590 | -25.3% |
| Gross operating margin | 9900 | €1,790 | -€17,405 | -€19,195 | |
| Operating profit (loss) | 9901 | -€10,306 | -€25,379 | -€15,072 | -146.2% |
| Financial income | 75/76B | - | €458,245 | +€458,245 | |
| Recurring financial income | 75 | - | €458,245 | +€458,245 | |
| Non-recurring financial income | 76B | - | €458,245 | +€458,245 | |
| Financial charges | 65/66B | €143 | €157 | +€14 | +9.7% |
| Recurring financial charges | 65 | €143 | €157 | +€14 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | -€10,450 | €432,709 | +€443,159 | |
| Transfer to deferred taxes | 680 | - | €114,561 | +€114,561 | |
| Profit (loss) for the period | 9904 | -€10,450 | €318,148 | +€328,597 | |
| Transfer to tax-exempt reserves | 689 | - | €343,684 | +€343,684 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,450 | -€25,536 | -€15,086 | -144.4% |
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 8 October 2026 via checked.be.