D.S.W.: 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.W.
Largest movements
- Cash -€3,593
down €3,593 (-19.0%), from €18,867 to €15,274
mainly Net result for the year (-€2,913) and Receivables within one year (-€402)
- Reserves -€2,913
down €2,913 (-8.2%), from €35,463 to €32,550
of which Distributable reserves: -€2,913
- Gross operating margin +€1,845
up €1,845 (+44.6%), from -€4,136 to -€2,291
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 | €174,494 | €171,303 | -€3,191 | -1.8% |
| Fixed assets | 21/28 | €39,075 | €39,075 | = | 0.0% |
| Tangible fixed assets | 22/27 | €39,075 | €39,075 | = | 0.0% |
| Land and buildings | 22 | €39,075 | €39,075 | = | 0.0% |
| Current assets | 29/58 | €135,419 | €132,228 | -€3,191 | -2.4% |
| Amounts receivable within one year | 40/41 | €116,160 | €116,562 | +€402 | +0.3% |
| Trade receivables | 40 | €101,542 | €101,542 | = | 0.0% |
| Other amounts receivable | 41 | €14,619 | €15,020 | +€402 | +2.7% |
| Current investments | 50/53 | €392 | €392 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €18,867 | €15,274 | -€3,593 | -19.0% |
| Total equity and liabilities | 10/49 | €174,494 | €171,303 | -€3,191 | -1.8% |
| Equity | 10/15 | €54,055 | €51,142 | -€2,913 | -5.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €35,463 | €32,550 | -€2,913 | -8.2% |
| Non-distributable reserves | 130/1 | €3,667 | €3,667 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,667 | €3,667 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,834 | €6,834 | = | 0.0% |
| Distributable reserves | 133 | €24,962 | €22,049 | -€2,913 | -11.7% |
| Provisions and deferred taxes | 16 | €90,035 | €90,035 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €90,035 | €90,035 | = | 0.0% |
| Other liabilities and charges | 164/5 | €90,035 | €90,035 | = | 0.0% |
| Amounts payable | 17/49 | €30,404 | €30,126 | -€278 | -0.9% |
| Amounts payable within one year | 42/48 | €27,631 | €27,313 | -€318 | -1.2% |
| Trade debts | 44 | €14,834 | €14,516 | -€318 | -2.1% |
| Suppliers | 440/4 | €14,834 | €14,516 | -€318 | -2.1% |
| Other amounts payable | 47/48 | €12,797 | €12,797 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,773 | €2,813 | +€40 | +1.4% |
| Other operating charges | 640/8 | €499 | €513 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€4,136 | -€2,291 | +€1,845 | +44.6% |
| Operating profit (loss) | 9901 | -€4,636 | -€2,804 | +€1,831 | +39.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €104 | €108 | +€5 | +4.3% |
| Recurring financial charges | 65 | €104 | €108 | +€5 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,740 | -€2,913 | +€1,827 | +38.6% |
| Income taxes | 67/77 | - | €0 | +€0 | |
| Profit (loss) for the period | 9904 | -€4,740 | -€2,913 | +€1,827 | +38.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,740 | -€2,913 | +€1,827 | +38.5% |
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 20 October 2026 via checked.be.