D.S.T.: 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.T.
Largest movements
- Receivables within one year +€120,645
up €120,645 (+68.7%), from €175,510 to €296,156
of which Trade receivables: +€112,294
- Tangible fixed assets -€19,947
down €19,947 (-5.1%), from €390,464 to €370,516
of which Assets under construction and advance payments: -€247,170
- Trade debts +€105,249
up €105,249 (+308.3%), from €34,139 to €139,388
- Debts after one year -€38,270
down €38,270 (-14.1%), from €270,575 to €232,305
- Tax, wage and social debts +€20,756
up €20,756 (+48.0%), from €43,266 to €64,022
of which Taxes: +€21,605
- Current portion of long-term debt +€9,689
up €9,689 (+16.6%), from €58,258 to €67,947
- Turnover -€870,560
no longer reported in 2025 (was €870,560)
- Purchases and services -€444,623
no longer reported in 2025 (was €444,623)
- Gross operating margin +€56,348
up €56,348 (+13.2%), from €425,328 to €481,676
- Staff costs +€43,012
up €43,012 (+12.2%), from €352,832 to €395,843
- Depreciation +€22,833
up €22,833 (+60.1%), from €37,967 to €60,800
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 | €618,294 | €720,623 | +€102,328 | +16.6% |
| Fixed assets | 21/28 | €390,514 | €370,566 | -€19,947 | -5.1% |
| Tangible fixed assets | 22/27 | €390,464 | €370,516 | -€19,947 | -5.1% |
| Land and buildings | 22 | - | €267,510 | +€267,510 | |
| Plant, machinery and equipment | 23 | - | €987 | +€987 | |
| Furniture and vehicles | 24 | €143,294 | €102,019 | -€41,275 | -28.8% |
| Assets under construction and advance payments | 27 | €247,170 | €0 | -€247,170 | -100.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €227,781 | €350,057 | +€122,276 | +53.7% |
| Amounts receivable within one year | 40/41 | €175,510 | €296,156 | +€120,645 | +68.7% |
| Trade receivables | 40 | €175,510 | €287,805 | +€112,294 | +64.0% |
| Other amounts receivable | 41 | - | €8,351 | +€8,351 | |
| Cash at bank and in hand | 54/58 | €49,898 | €52,050 | +€2,152 | +4.3% |
| Deferred charges and accrued income | 490/1 | €2,372 | €1,851 | -€522 | -22.0% |
| Total equity and liabilities | 10/49 | €618,294 | €720,623 | +€102,328 | +16.6% |
| Equity | 10/15 | €211,356 | €216,398 | +€5,041 | +2.4% |
| Contributions | 10/11 | €13,250 | €13,250 | = | 0.0% |
| Reserves | 13 | €75,792 | €75,792 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €31,750 | €31,750 | = | 0.0% |
| Distributable reserves | 133 | €42,182 | €42,182 | = | 0.0% |
| Profit (loss) carried forward | 14 | €122,314 | €127,356 | +€5,041 | +4.1% |
| Amounts payable | 17/49 | €406,938 | €504,225 | +€97,287 | +23.9% |
| Amounts payable after more than one year | 17 | €270,575 | €232,305 | -€38,270 | -14.1% |
| Financial debts | 170/4 | €270,575 | €232,305 | -€38,270 | -14.1% |
| Amounts payable within one year | 42/48 | €136,363 | €271,920 | +€135,557 | +99.4% |
| Current portion of amounts payable after more than one year | 42 | €58,258 | €67,947 | +€9,689 | +16.6% |
| Financial debts | 43 | €96 | €0 | -€96 | -100.0% |
| Credit institutions | 430/8 | €96 | €0 | -€96 | -100.0% |
| Trade debts | 44 | €34,139 | €139,388 | +€105,249 | +308.3% |
| Suppliers | 440/4 | €34,139 | €139,388 | +€105,249 | +308.3% |
| Taxes, remuneration and social security | 45 | €43,266 | €64,022 | +€20,756 | +48.0% |
| Taxes | 450/3 | €26,439 | €48,043 | +€21,605 | +81.7% |
| Remuneration and social security | 454/9 | €16,827 | €15,979 | -€849 | -5.0% |
| Other amounts payable | 47/48 | €604 | €563 | -€41 | -6.8% |
| Turnover | 70 | €870,560 | - | -€870,560 | |
| Goods, raw materials, services and sundry goods | 60/61 | €444,623 | - | -€444,623 | |
| Remuneration, social security and pensions | 62 | €352,832 | €395,843 | +€43,012 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,967 | €60,800 | +€22,833 | +60.1% |
| Other operating charges | 640/8 | €449 | €1,676 | +€1,227 | +273.1% |
| Gross operating margin | 9900 | €425,328 | €481,676 | +€56,348 | +13.2% |
| Operating profit (loss) | 9901 | €34,080 | €23,356 | -€10,723 | -31.5% |
| Financial income | 75/76B | €1 | €0 | -€1 | -94.8% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -94.8% |
| Financial charges | 65/66B | €11,445 | €18,315 | +€6,870 | +60.0% |
| Recurring financial charges | 65 | €11,445 | €18,315 | +€6,870 | +60.0% |
| Profit (loss) for the period before taxes | 9903 | €22,636 | €5,041 | -€17,594 | -77.7% |
| Income taxes | 67/77 | €8,251 | €0 | -€8,251 | -100.0% |
| Profit (loss) for the period | 9904 | €14,385 | €5,041 | -€9,343 | -65.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,385 | €5,041 | -€9,343 | -65.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.