DHS Finances: 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.
DHS Finances
Largest movements
- Financial fixed assets +€73,000
up €73,000 (+1,825%), from €4,000 to €77,000
- Receivables within one year +€72,015
up €72,015 (+2,413%), from €2,985 to €75,000
of which Trade receivables: +€74,826
- Deferred charges and accrued income -€22,186
down €22,186 (-94.8%), from €23,393 to €1,207
- Cash -€15,883
down €15,883 (-13.6%), from €116,845 to €100,962
mainly Investment in fixed assets (net) (-€81,711) and Receivables within one year (-€72,015)
- Tangible fixed assets +€3,259
up €3,259 (+5.4%), from €60,458 to €63,717
of which Other tangible fixed assets: +€4,329
- Reserves +€63,361
up €63,361 (+57.7%), from €109,722 to €173,083
- Debts after one year +€62,273
up €62,273, from €0 to €62,273
- Other debts -€37,564
down €37,564 (-62.6%), from €60,000 to €22,436
- Current portion of long-term debt +€15,386
up €15,386 (+1,353%), from €1,138 to €16,523
- Tax, wage and social debts +€6,716
up €6,716 (+46.9%), from €14,332 to €21,047
- Financial income -€164,677
down €164,677 (-99.8%), from €165,014 to €337
- Gross operating margin +€112,541
up €112,541 (+140%), from €80,277 to €192,818
- Financial charges +€42,579
up €42,579 (+79.9%), from €53,271 to €95,849
- Taxes +€18,968
up €18,968 (+269%), from €7,046 to €26,014
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 | €207,680 | €317,886 | +€110,206 | +53.1% |
| Fixed assets | 21/28 | €64,458 | €140,717 | +€76,259 | +118% |
| Tangible fixed assets | 22/27 | €60,458 | €63,717 | +€3,259 | +5.4% |
| Furniture and vehicles | 24 | €2,100 | €1,030 | -€1,070 | -50.9% |
| Other tangible fixed assets | 26 | €58,358 | €62,687 | +€4,329 | +7.4% |
| Financial fixed assets | 28 | €4,000 | €77,000 | +€73,000 | +1,825% |
| Current assets | 29/58 | €143,222 | €177,170 | +€33,947 | +23.7% |
| Amounts receivable within one year | 40/41 | €2,985 | €75,000 | +€72,015 | +2,413% |
| Trade receivables | 40 | €174 | €75,000 | +€74,826 | +42,897% |
| Other amounts receivable | 41 | €2,810 | €0 | -€2,810 | -100% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €116,845 | €100,962 | -€15,883 | -13.6% |
| Deferred charges and accrued income | 490/1 | €23,393 | €1,207 | -€22,186 | -94.8% |
| Total equity and liabilities | 10/49 | €207,680 | €317,886 | +€110,206 | +53.1% |
| Equity | 10/15 | €128,322 | €191,683 | +€63,361 | +49.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €109,722 | €173,083 | +€63,361 | +57.7% |
| Distributable reserves | 133 | €109,722 | €173,083 | +€63,361 | +57.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €79,358 | €126,204 | +€46,845 | +59.0% |
| Amounts payable after more than one year | 17 | €0 | €62,273 | +€62,273 | |
| Financial debts | 170/4 | €0 | €62,273 | +€62,273 | |
| Amounts payable within one year | 42/48 | €79,358 | €63,419 | -€15,940 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €1,138 | €16,523 | +€15,386 | +1,353% |
| Trade debts | 44 | €3,889 | €3,413 | -€477 | -12.3% |
| Suppliers | 440/4 | €3,889 | €3,413 | -€477 | -12.3% |
| Taxes, remuneration and social security | 45 | €14,332 | €21,047 | +€6,716 | +46.9% |
| Taxes | 450/3 | €14,332 | €21,047 | +€6,716 | +46.9% |
| Other amounts payable | 47/48 | €60,000 | €22,436 | -€37,564 | -62.6% |
| Accrued charges and deferred income | 492/3 | €0 | €512 | +€512 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,903 | €5,452 | +€548 | +11.2% |
| Other operating charges | 640/8 | €1,622 | €1,579 | -€42 | -2.6% |
| Gross operating margin | 9900 | €80,277 | €192,818 | +€112,541 | +140% |
| Operating profit (loss) | 9901 | €73,752 | €185,787 | +€112,035 | +152% |
| Financial income | 75/76B | €165,014 | €337 | -€164,677 | -99.8% |
| Recurring financial income | 75 | €165,014 | €337 | -€164,677 | -99.8% |
| Financial charges | 65/66B | €53,271 | €95,849 | +€42,579 | +79.9% |
| Recurring financial charges | 65 | €53,271 | €95,849 | +€42,579 | +79.9% |
| Profit (loss) for the period before taxes | 9903 | €185,495 | €90,275 | -€95,221 | -51.3% |
| Income taxes | 67/77 | €7,046 | €26,014 | +€18,968 | +269% |
| Profit (loss) for the period | 9904 | €178,450 | €64,261 | -€114,189 | -64.0% |
| Profit (loss) for the period to be appropriated | 9905 | €178,450 | €64,261 | -€114,189 | -64.0% |
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 25 October 2026 via checked.be.