D&S MANAGEMENT & SERVICES: 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 MANAGEMENT & SERVICES
Largest movements
- Receivables within one year -€30,818
down €30,818 (-25.9%), from €118,901 to €88,084
of which Other amounts receivable: -€31,837
- Cash -€11,629
down €11,629 (-24.7%), from €47,105 to €35,475
mainly Debts after one year (-€43,297) and Tax, wage and social debts (-€29,321)
- Tangible fixed assets +€6,013
up €6,013 (+1,440%), from €418 to €6,430
- Reserves +€46,257
up €46,257 (+20.6%), from €225,048 to €271,305
- Debts after one year -€43,297
down €43,297 (-22.0%), from €197,079 to €153,782
- Tax, wage and social debts -€29,321
down €29,321 (-71.5%), from €41,000 to €11,679
- Current portion of long-term debt -€8,840
down €8,840 (-17.0%), from €52,138 to €43,297
- Gross operating margin -€86,924
down €86,924 (-53.8%), from €161,640 to €74,716
- Taxes -€26,795
down €26,795 (-58.4%), from €45,883 to €19,088
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 | €568,556 | €532,251 | -€36,305 | -6.4% |
| Fixed assets | 21/28 | €400,418 | €406,430 | +€6,013 | +1.5% |
| Tangible fixed assets | 22/27 | €418 | €6,430 | +€6,013 | +1,440% |
| Furniture and vehicles | 24 | €418 | €6,430 | +€6,013 | +1,440% |
| Financial fixed assets | 28 | €400,000 | €400,000 | = | 0.0% |
| Current assets | 29/58 | €168,138 | €125,821 | -€42,317 | -25.2% |
| Amounts receivable within one year | 40/41 | €118,901 | €88,084 | -€30,818 | -25.9% |
| Trade receivables | 40 | €1,881 | €2,900 | +€1,019 | +54.2% |
| Other amounts receivable | 41 | €117,020 | €85,184 | -€31,837 | -27.2% |
| Cash at bank and in hand | 54/58 | €47,105 | €35,475 | -€11,629 | -24.7% |
| Deferred charges and accrued income | 490/1 | €2,132 | €2,262 | +€130 | +6.1% |
| Total equity and liabilities | 10/49 | €568,556 | €532,251 | -€36,305 | -6.4% |
| Equity | 10/15 | €275,048 | €321,305 | +€46,257 | +16.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €225,048 | €271,305 | +€46,257 | +20.6% |
| Distributable reserves | 133 | €225,048 | €271,305 | +€46,257 | +20.6% |
| Amounts payable | 17/49 | €293,508 | €210,946 | -€82,561 | -28.1% |
| Amounts payable after more than one year | 17 | €197,079 | €153,782 | -€43,297 | -22.0% |
| Financial debts | 170/4 | €197,079 | €153,782 | -€43,297 | -22.0% |
| Amounts payable within one year | 42/48 | €94,949 | €55,685 | -€39,264 | -41.4% |
| Current portion of amounts payable after more than one year | 42 | €52,138 | €43,297 | -€8,840 | -17.0% |
| Trade debts | 44 | €1,811 | €679 | -€1,132 | -62.5% |
| Suppliers | 440/4 | €1,811 | €679 | -€1,132 | -62.5% |
| Taxes, remuneration and social security | 45 | €41,000 | €11,679 | -€29,321 | -71.5% |
| Taxes | 450/3 | €41,000 | €11,679 | -€29,321 | -71.5% |
| Other amounts payable | 47/48 | - | €30 | +€30 | |
| Accrued charges and deferred income | 492/3 | €1,479 | €1,479 | = | 0.0% |
| Non-recurring operating income | 76A | €347 | - | -€347 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €441 | €2,044 | +€1,604 | +364% |
| Other operating charges | 640/8 | €1,139 | €1,204 | +€64 | +5.7% |
| Gross operating margin | 9900 | €161,640 | €74,716 | -€86,924 | -53.8% |
| Operating profit (loss) | 9901 | €160,061 | €71,468 | -€88,592 | -55.3% |
| Financial income | 75/76B | €72 | €17 | -€56 | -77.1% |
| Recurring financial income | 75 | €72 | €17 | -€56 | -77.1% |
| Financial charges | 65/66B | €6,219 | €6,140 | -€79 | -1.3% |
| Recurring financial charges | 65 | €6,219 | €6,140 | -€79 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €153,914 | €65,345 | -€88,569 | -57.5% |
| Income taxes | 67/77 | €45,883 | €19,088 | -€26,795 | -58.4% |
| Profit (loss) for the period | 9904 | €108,031 | €46,257 | -€61,774 | -57.2% |
| Profit (loss) for the period to be appropriated | 9905 | €108,031 | €46,257 | -€61,774 | -57.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.