D.S.F.: what changed
D.S.F.
Largest movements
- Tangible fixed assets -€22,527
down €22,527 (-28.5%), from €79,080 to €56,553
- Receivables within one year -€8,863
down €8,863 (-98.6%), from €8,990 to €127
of which Trade receivables: -€8,990
- Cash +€937
up €937 (+176%), from €533 to €1,470
mainly Depreciation (+€22,527) and Receivables within one year (+€8,863)
- Profit (loss) carried forward -€22,249
down €22,249 (-30.4%), from €73,269 to €51,020
- Advances received -€7,986
no longer reported in 2025 (was €7,986)
- Other operating charges -€245,488
down €245,488 (-99.8%), from €245,888 to €400
- Gross operating margin -€205,370
down €205,370 (-99.7%), from €206,089 to €719
- Staff costs -€19,330
no longer reported in 2025 (was €19,330)
- Depreciation -€4,410
down €4,410 (-16.4%), from €26,938 to €22,527
- Financial charges -€3,732
down €3,732 (-98.9%), from €3,772 to €40
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €88,603 | €58,149 | -€30,454 | -34.4% |
| Fixed assets | 21/28 | €79,080 | €56,553 | -€22,527 | -28.5% |
| Tangible fixed assets | 22/27 | €79,080 | €56,553 | -€22,527 | -28.5% |
| Furniture and vehicles | 24 | €79,080 | €56,553 | -€22,527 | -28.5% |
| Current assets | 29/58 | €9,523 | €1,597 | -€7,926 | -83.2% |
| Amounts receivable within one year | 40/41 | €8,990 | €127 | -€8,863 | -98.6% |
| Trade receivables | 40 | €8,990 | - | -€8,990 | |
| Other amounts receivable | 41 | - | €127 | +€127 | |
| Cash at bank and in hand | 54/58 | €533 | €1,470 | +€937 | +176% |
| Total equity and liabilities | 10/49 | €88,603 | €58,149 | -€30,454 | -34.4% |
| Equity | 10/15 | €79,469 | €57,220 | -€22,249 | -28.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Profit (loss) carried forward | 14 | €73,269 | €51,020 | -€22,249 | -30.4% |
| Amounts payable | 17/49 | €9,134 | €929 | -€8,205 | -89.8% |
| Amounts payable within one year | 42/48 | €9,134 | €929 | -€8,205 | -89.8% |
| Advances received on contracts in progress | 46 | €7,986 | - | -€7,986 | |
| Taxes, remuneration and social security | 45 | €1,148 | €929 | -€219 | -19.1% |
| Taxes | 450/3 | €219 | - | -€219 | |
| Remuneration and social security | 454/9 | €929 | €929 | = | 0.0% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €719 | +€719 | |
| Remuneration, social security and pensions | 62 | €19,330 | - | -€19,330 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,938 | €22,527 | -€4,410 | -16.4% |
| Other operating charges | 640/8 | €245,888 | €400 | -€245,488 | -99.8% |
| Gross operating margin | 9900 | €206,089 | €719 | -€205,370 | -99.7% |
| Operating profit (loss) | 9901 | -€86,066 | -€22,208 | +€63,858 | +74.2% |
| Financial charges | 65/66B | €3,772 | €40 | -€3,732 | -98.9% |
| Recurring financial charges | 65 | €3,772 | €40 | -€3,732 | -98.9% |
| Profit (loss) for the period before taxes | 9903 | -€89,838 | -€22,249 | +€67,589 | +75.2% |
| Profit (loss) for the period | 9904 | -€89,838 | -€22,249 | +€67,589 | +75.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€89,838 | -€22,249 | +€67,589 | +75.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.