DCS: 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.
DCS
Largest movements
- Receivables after one year +€200,092
new in 2025: €200,092
- Receivables within one year -€67,484
down €67,484 (-57.2%), from €118,050 to €50,566
of which Other amounts receivable: -€92,160
- Cash -€43,963
down €43,963 (-68.4%), from €64,314 to €20,352
mainly Receivables after one year (-€200,092) and Other debts (-€107,181)
- Tangible fixed assets +€26,066
up €26,066 (+8.6%), from €301,777 to €327,843
of which Land and buildings: +€35,090
- Debts after one year +€122,259
up €122,259, from €0 to €122,259
of which Other amounts payable: +€97,440
- Other debts -€107,181
down €107,181 (-51.5%), from €208,014 to €100,833
- Reserves +€61,134
up €61,134 (+26.8%), from €227,828 to €288,962
- Trade debts +€47,632
up €47,632 (+2,808%), from €1,696 to €49,328
- Current portion of long-term debt -€10,260
down €10,260 (-100%), from €10,260 to €0
- Gross operating margin -€27,664
down €27,664 (-19.5%), from €141,969 to €114,305
- Taxes -€10,568
down €10,568 (-49.8%), from €21,238 to €10,670
- Financial charges +€9,261
up €9,261 (+159%), from €5,832 to €15,093
- Financial income +€4,071
up €4,071 (+266%), from €1,531 to €5,602
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 | €484,900 | €599,653 | +€114,753 | +23.7% |
| Fixed assets | 21/28 | €301,777 | €327,843 | +€26,066 | +8.6% |
| Tangible fixed assets | 22/27 | €301,777 | €327,843 | +€26,066 | +8.6% |
| Land and buildings | 22 | €257,538 | €292,628 | +€35,090 | +13.6% |
| Plant, machinery and equipment | 23 | €36,767 | €30,151 | -€6,616 | -18.0% |
| Furniture and vehicles | 24 | €7,472 | €5,063 | -€2,408 | -32.2% |
| Current assets | 29/58 | €183,123 | €271,810 | +€88,688 | +48.4% |
| Amounts receivable after more than one year | 29 | - | €200,092 | +€200,092 | |
| Other amounts receivable | 291 | - | €200,092 | +€200,092 | |
| Amounts receivable within one year | 40/41 | €118,050 | €50,566 | -€67,484 | -57.2% |
| Trade receivables | 40 | €10,958 | €35,634 | +€24,676 | +225% |
| Other amounts receivable | 41 | €107,092 | €14,932 | -€92,160 | -86.1% |
| Cash at bank and in hand | 54/58 | €64,314 | €20,352 | -€43,963 | -68.4% |
| Deferred charges and accrued income | 490/1 | €758 | €800 | +€42 | +5.6% |
| Total equity and liabilities | 10/49 | €484,900 | €599,653 | +€114,753 | +23.7% |
| Equity | 10/15 | €246,428 | €307,562 | +€61,134 | +24.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €227,828 | €288,962 | +€61,134 | +26.8% |
| Distributable reserves | 133 | €227,828 | €288,962 | +€61,134 | +26.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €238,472 | €292,091 | +€53,619 | +22.5% |
| Amounts payable after more than one year | 17 | €0 | €122,259 | +€122,259 | |
| Financial debts | 170/4 | €0 | €24,819 | +€24,819 | |
| Other amounts payable | 178/9 | - | €97,440 | +€97,440 | |
| Amounts payable within one year | 42/48 | €230,409 | €153,651 | -€76,758 | -33.3% |
| Current portion of amounts payable after more than one year | 42 | €10,260 | €0 | -€10,260 | -100% |
| Trade debts | 44 | €1,696 | €49,328 | +€47,632 | +2,808% |
| Suppliers | 440/4 | €1,696 | €49,328 | +€47,632 | +2,808% |
| Taxes, remuneration and social security | 45 | €10,439 | €3,490 | -€6,950 | -66.6% |
| Taxes | 450/3 | €7,889 | €940 | -€6,950 | -88.1% |
| Remuneration and social security | 454/9 | €2,550 | €2,550 | = | 0.0% |
| Other amounts payable | 47/48 | €208,014 | €100,833 | -€107,181 | -51.5% |
| Accrued charges and deferred income | 492/3 | €8,062 | €16,182 | +€8,119 | +101% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,215 | €31,168 | -€47 | -0.1% |
| Other operating charges | 640/8 | €979 | €1,008 | +€29 | +3.0% |
| Gross operating margin | 9900 | €141,969 | €114,305 | -€27,664 | -19.5% |
| Operating profit (loss) | 9901 | €109,775 | €82,129 | -€27,647 | -25.2% |
| Financial income | 75/76B | €1,531 | €5,602 | +€4,071 | +266% |
| Recurring financial income | 75 | €1,531 | €5,602 | +€4,071 | +266% |
| Financial charges | 65/66B | €5,832 | €15,093 | +€9,261 | +159% |
| Recurring financial charges | 65 | €5,832 | €15,093 | +€9,261 | +159% |
| Profit (loss) for the period before taxes | 9903 | €105,474 | €72,637 | -€32,837 | -31.1% |
| Income taxes | 67/77 | €21,238 | €10,670 | -€10,568 | -49.8% |
| Profit (loss) for the period | 9904 | €84,236 | €61,967 | -€22,269 | -26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,236 | €61,967 | -€22,269 | -26.4% |
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 24 October 2026 via checked.be.