D & S PRODUCTS: 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 PRODUCTS
Largest movements
- Cash +€100,655
up €100,655 (+8,766%), from €1,148 to €101,803
mainly Net result for the year (+€211,500) and Depreciation (+€48,401)
- Tangible fixed assets +€74,527
up €74,527 (+85.3%), from €87,322 to €161,849
of which Leasing and similar rights: +€98,342
- Current investments -€37,883
no longer reported in 2025 (was €37,883)
- Receivables within one year +€23,658
up €23,658 (+44.3%), from €53,458 to €77,115
of which Other amounts receivable: +€25,252
- Reserves +€89,334
up €89,334 (+6.4%), from €1.4m to €1.5m
of which Distributable reserves: +€89,334
- Debts after one year +€39,762
up €39,762 (+39.2%), from €101,384 to €141,146
- Current portion of long-term debt +€25,532
up €25,532 (+42.7%), from €59,773 to €85,305
- Gross operating margin +€42,888
up €42,888 (+14.7%), from €292,439 to €335,327
- Taxes +€22,393
up €22,393 (+32.9%), from €68,151 to €90,544
- Financial charges -€21,663
down €21,663 (-58.2%), from €37,249 to €15,586
- Depreciation +€9,701
up €9,701 (+25.1%), from €38,700 to €48,401
- Financial income -€7,782
down €7,782 (-20.1%), from €38,718 to €30,935
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 | €1,639,866 | €1,799,603 | +€159,737 | +9.7% |
| Fixed assets | 21/28 | €1,536,720 | €1,615,247 | +€78,527 | +5.1% |
| Tangible fixed assets | 22/27 | €87,322 | €161,849 | +€74,527 | +85.3% |
| Furniture and vehicles | 24 | €87,322 | €63,507 | -€23,815 | -27.3% |
| Leasing and similar rights | 25 | - | €98,342 | +€98,342 | |
| Financial fixed assets | 28 | €1,449,398 | €1,453,398 | +€4,000 | +0.3% |
| Current assets | 29/58 | €103,147 | €184,356 | +€81,210 | +78.7% |
| Amounts receivable within one year | 40/41 | €53,458 | €77,115 | +€23,658 | +44.3% |
| Trade receivables | 40 | €3,595 | €2,000 | -€1,595 | -44.4% |
| Other amounts receivable | 41 | €49,863 | €75,115 | +€25,252 | +50.6% |
| Current investments | 50/53 | €37,883 | - | -€37,883 | |
| Cash at bank and in hand | 54/58 | €1,148 | €101,803 | +€100,655 | +8,766% |
| Deferred charges and accrued income | 490/1 | €10,658 | €5,438 | -€5,220 | -49.0% |
| Total equity and liabilities | 10/49 | €1,639,866 | €1,799,603 | +€159,737 | +9.7% |
| Equity | 10/15 | €1,461,392 | €1,550,726 | +€89,334 | +6.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,399,392 | €1,488,726 | +€89,334 | +6.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €881 | €881 | = | 0.0% |
| Distributable reserves | 133 | €1,392,310 | €1,481,644 | +€89,334 | +6.4% |
| Amounts payable | 17/49 | €178,475 | €248,877 | +€70,403 | +39.4% |
| Amounts payable after more than one year | 17 | €101,384 | €141,146 | +€39,762 | +39.2% |
| Financial debts | 170/4 | €101,384 | €141,146 | +€39,762 | +39.2% |
| Amounts payable within one year | 42/48 | €77,091 | €107,732 | +€30,641 | +39.7% |
| Current portion of amounts payable after more than one year | 42 | €59,773 | €85,305 | +€25,532 | +42.7% |
| Trade debts | 44 | €1,332 | €1,845 | +€513 | +38.6% |
| Suppliers | 440/4 | €1,332 | €1,845 | +€513 | +38.6% |
| Taxes, remuneration and social security | 45 | €15,986 | €20,582 | +€4,596 | +28.7% |
| Taxes | 450/3 | €15,986 | €20,582 | +€4,596 | +28.7% |
| Non-recurring operating income | 76A | - | €23,270 | +€23,270 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,700 | €48,401 | +€9,701 | +25.1% |
| Other operating charges | 640/8 | €118 | €231 | +€113 | +95.8% |
| Gross operating margin | 9900 | €292,439 | €335,327 | +€42,888 | +14.7% |
| Operating profit (loss) | 9901 | €253,622 | €286,695 | +€33,074 | +13.0% |
| Financial income | 75/76B | €38,718 | €30,935 | -€7,782 | -20.1% |
| Recurring financial income | 75 | €38,718 | €30,935 | -€7,782 | -20.1% |
| Financial charges | 65/66B | €37,249 | €15,586 | -€21,663 | -58.2% |
| Recurring financial charges | 65 | €37,249 | €15,586 | -€21,663 | -58.2% |
| Profit (loss) for the period before taxes | 9903 | €255,090 | €302,044 | +€46,955 | +18.4% |
| Income taxes | 67/77 | €68,151 | €90,544 | +€22,393 | +32.9% |
| Profit (loss) for the period | 9904 | €186,939 | €211,500 | +€24,561 | +13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €186,939 | €211,500 | +€24,561 | +13.1% |
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 23 October 2026 via checked.be.