D.S. HOLDING: 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. HOLDING
Largest movements
- Receivables within one year +€148,390
up €148,390 (+153%), from €96,708 to €245,098
- Cash -€96,512
down €96,512 (-56.4%), from €171,166 to €74,653
mainly Receivables within one year (-€148,390) and Trade debts (-€34)
- Profit (loss) carried forward +€35,622
up €35,622 (+63.3%), from €56,307 to €91,930
- Provisions +€10,594
up €10,594 (+4.3%), from €247,984 to €258,578
- Tax, wage and social debts +€5,322
up €5,322 (+30.5%), from €17,445 to €22,767
of which Taxes: +€8,908
- Staff costs -€36,793
down €36,793 (-27.5%), from €133,676 to €96,882
- Gross operating margin +€14,915
up €14,915 (+11.3%), from €132,484 to €147,399
- Taxes +€6,752
up €6,752 (+4,893%), from €138 to €6,890
- Financial income -€2,114
down €2,114 (-37.7%), from €5,613 to €3,499
- Provisions +€1,693
up €1,693 (+19.0%), from €8,901 to €10,594
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 | €334,666 | €386,170 | +€51,504 | +15.4% |
| Fixed assets | 21/28 | €4,293 | €3,919 | -€374 | -8.7% |
| Tangible fixed assets | 22/27 | €374 | - | -€374 | |
| Furniture and vehicles | 24 | €374 | - | -€374 | |
| Financial fixed assets | 28 | €3,919 | €3,919 | = | 0.0% |
| Current assets | 29/58 | €330,373 | €382,251 | +€51,878 | +15.7% |
| Amounts receivable after more than one year | 29 | €62,500 | €62,500 | = | 0.0% |
| Other amounts receivable | 291 | €62,500 | €62,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €96,708 | €245,098 | +€148,390 | +153% |
| Other amounts receivable | 41 | €96,708 | €245,098 | +€148,390 | +153% |
| Cash at bank and in hand | 54/58 | €171,166 | €74,653 | -€96,512 | -56.4% |
| Total equity and liabilities | 10/49 | €334,666 | €386,170 | +€51,504 | +15.4% |
| Equity | 10/15 | €64,367 | €99,990 | +€35,622 | +55.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,307 | €91,930 | +€35,622 | +63.3% |
| Provisions and deferred taxes | 16 | €247,984 | €258,578 | +€10,594 | +4.3% |
| Provisions for liabilities and charges | 160/5 | €247,984 | €258,578 | +€10,594 | +4.3% |
| Pensions and similar obligations | 160 | €247,984 | €258,578 | +€10,594 | +4.3% |
| Amounts payable | 17/49 | €22,315 | €27,603 | +€5,288 | +23.7% |
| Amounts payable within one year | 42/48 | €22,315 | €27,603 | +€5,288 | +23.7% |
| Trade debts | 44 | €4,870 | €4,836 | -€34 | -0.7% |
| Suppliers | 440/4 | €4,870 | €4,836 | -€34 | -0.7% |
| Taxes, remuneration and social security | 45 | €17,445 | €22,767 | +€5,322 | +30.5% |
| Taxes | 450/3 | €10,292 | €19,200 | +€8,908 | +86.6% |
| Remuneration and social security | 454/9 | €7,153 | €3,567 | -€3,586 | -50.1% |
| Remuneration, social security and pensions | 62 | €133,676 | €96,882 | -€36,793 | -27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €965 | €374 | -€591 | -61.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €8,901 | €10,594 | +€1,693 | +19.0% |
| Other operating charges | 640/8 | €493 | €505 | +€12 | +2.4% |
| Gross operating margin | 9900 | €132,484 | €147,399 | +€14,915 | +11.3% |
| Operating profit (loss) | 9901 | -€11,551 | €39,044 | +€50,595 | |
| Financial income | 75/76B | €5,613 | €3,499 | -€2,114 | -37.7% |
| Recurring financial income | 75 | €5,613 | €3,499 | -€2,114 | -37.7% |
| Financial charges | 65/66B | €30 | €30 | = | 0.0% |
| Recurring financial charges | 65 | €30 | €30 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,968 | €42,512 | +€48,481 | |
| Income taxes | 67/77 | €138 | €6,890 | +€6,752 | +4,893% |
| Profit (loss) for the period | 9904 | -€6,106 | €35,622 | +€41,729 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,106 | €35,622 | +€41,729 |
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 23 October 2026 via checked.be.