DCSQUARED: what changed
Two fiscal 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.
DCSQUARED
Largest movements
- Current investments +€35,592
up €35,592 (+99.7%), from €35,692 to €71,284
- Cash -€12,384
down €12,384 (-11.5%), from €107,387 to €95,003
mainly Current investments (-€35,592) and Tax, wage and social debts (-€15,348)
- Receivables within one year +€5,391
up €5,391 (+80.4%), from €6,704 to €12,095
of which Trade receivables: +€5,506
- Tangible fixed assets +€5,078
up €5,078 (+243.4%), from €2,086 to €7,164
of which Plant, machinery and equipment: +€5,382
- Reserves +€47,303
up €47,303 (+42.9%), from €110,257 to €157,560
- Tax, wage and social debts -€15,348
down €15,348 (-40.7%), from €37,666 to €22,318
- Gross operating margin -€78,895
down €78,895 (-55.2%), from €143,031 to €64,136
- Taxes -€16,958
down €16,958 (-54.4%), from €31,149 to €14,191
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 | €153,322 | €186,153 | +€32,831 | +21.4% |
| Fixed assets | 21/28 | €2,086 | €7,164 | +€5,078 | +243.4% |
| Tangible fixed assets | 22/27 | €2,086 | €7,164 | +€5,078 | +243.4% |
| Plant, machinery and equipment | 23 | €717 | €6,099 | +€5,382 | +751.0% |
| Furniture and vehicles | 24 | €1,369 | €1,065 | -€304 | -22.2% |
| Current assets | 29/58 | €151,236 | €178,989 | +€27,753 | +18.4% |
| Amounts receivable within one year | 40/41 | €6,704 | €12,095 | +€5,391 | +80.4% |
| Trade receivables | 40 | €6,292 | €11,798 | +€5,506 | +87.5% |
| Other amounts receivable | 41 | €412 | €297 | -€114 | -27.7% |
| Current investments | 50/53 | €35,692 | €71,284 | +€35,592 | +99.7% |
| Cash at bank and in hand | 54/58 | €107,387 | €95,003 | -€12,384 | -11.5% |
| Deferred charges and accrued income | 490/1 | €1,453 | €607 | -€847 | -58.3% |
| Total equity and liabilities | 10/49 | €153,322 | €186,153 | +€32,831 | +21.4% |
| Equity | 10/15 | €114,257 | €161,560 | +€47,303 | +41.4% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €110,257 | €157,560 | +€47,303 | +42.9% |
| Distributable reserves | 133 | €110,257 | €157,560 | +€47,303 | +42.9% |
| Amounts payable | 17/49 | €39,065 | €24,593 | -€14,472 | -37.0% |
| Amounts payable within one year | 42/48 | €39,065 | €24,593 | -€14,472 | -37.0% |
| Trade debts | 44 | €1,399 | €2,275 | +€876 | +62.6% |
| Suppliers | 440/4 | €1,399 | €2,275 | +€876 | +62.6% |
| Taxes, remuneration and social security | 45 | €37,666 | €22,318 | -€15,348 | -40.7% |
| Taxes | 450/3 | €37,666 | €22,318 | -€15,348 | -40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,584 | €1,403 | -€182 | -11.5% |
| Other operating charges | 640/8 | - | €43 | +€43 | |
| Gross operating margin | 9900 | €143,031 | €64,136 | -€78,895 | -55.2% |
| Operating profit (loss) | 9901 | €141,446 | €62,691 | -€78,755 | -55.7% |
| Financial income | 75/76B | €27 | €21 | -€6 | -22.8% |
| Recurring financial income | 75 | €27 | €21 | -€6 | -22.8% |
| Financial charges | 65/66B | €68 | €1,218 | +€1,150 | +1685.7% |
| Recurring financial charges | 65 | €68 | €1,218 | +€1,150 | +1685.7% |
| Profit (loss) for the period before taxes | 9903 | €141,406 | €61,494 | -€79,912 | -56.5% |
| Income taxes | 67/77 | €31,149 | €14,191 | -€16,958 | -54.4% |
| Profit (loss) for the period | 9904 | €110,257 | €47,303 | -€62,954 | -57.1% |
| Profit (loss) for the period to be appropriated | 9905 | €110,257 | €47,303 | -€62,954 | -57.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.