DHS HOLDING: 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.
What changed
DHS HOLDING
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€58,395
2024 · €161,753-€103,358
Equity
€31.6m
2024 · €32.0m-€432,532
Cash
€752,722
2024 · €681,153+€71,568
Balance sheet total
€33.4m
2024 · €33.7m-€259,305
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Other debts +€481,011
up €481,011 (+4,851%), from €9,916 to €490,927
- Reserves -€432,532
down €432,532 (-6.5%), from €6.6m to €6.2m
of which Distributable reserves: -€435,452
- Debts after one year -€350,004
down €350,004 (-50.0%), from €699,968 to €349,964
Income statement
- Services and other goods -€237,982
down €237,982 (-8.5%), from €2.8m to €2.6m
- Financial charges +€192,356
up €192,356 (+1,390%), from €13,834 to €206,190
of which Financial charges: +€131,156
- Staff costs +€156,557
up €156,557 (+11.5%), from €1.4m to €1.5m
- Turnover +€110,400
up €110,400 (+2.6%), from €4.2m to €4.4m
- Financial income -€87,100
down €87,100 (-48.3%), from €180,245 to €93,145
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.
Result 2024
€161,753
Turnover
+€110,400
Other operating income
+€9,516
Services and other goods
+€237,982
Staff costs
-€156,557
Depreciation
-€9,583
Write-downs
-€27,206
Other operating charges
-€307
Other operating items
+€7,903
Financial income
-€87,100
Financial charges
-€192,356
Taxes
+€3,951
Result 2025
€58,395
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€923,503
Investment
-€11,003
Financing
-€840,931
Cash 2024
€681,153
From operations (derived)
+€923,503
Net result for the year
+€58,395
Depreciation
+€94,391
Receivables within one year
+€246,103
Deferred charges and accrued income
+€1,383
Trade debts
+€18,651
Tax, wage and social debts
+€23,894
Other debts
+€481,011
Accrued charges and deferred income
-€325
Investment (derived)
-€11,003
Investment in fixed assets (net)
-€11,003
Financing
-€840,931
Debts after one year
-€350,004
Contributions, distributions and other
-€490,927
Cash 2025
€752,722
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,668,026 | €33,408,720 | -€259,305 | -0.8% |
| Fixed assets | 21/28 | €29,761,988 | €29,678,601 | -€83,387 | -0.3% |
| Intangible fixed assets | 21 | €4,429 | - | -€4,429 | |
| Tangible fixed assets | 22/27 | €250,851 | €233,092 | -€17,759 | -7.1% |
| Furniture and vehicles | 24 | €250,851 | €233,092 | -€17,759 | -7.1% |
| Financial fixed assets | 28 | €29,506,709 | €29,445,509 | -€61,200 | -0.2% |
| Affiliated companies | 280/1 | €29,506,709 | €29,445,509 | -€61,200 | -0.2% |
| Participating interests | 280 | €29,306,709 | €29,245,509 | -€61,200 | -0.2% |
| Amounts receivable | 281 | €200,000 | €200,000 | = | 0.0% |
| Current assets | 29/58 | €3,906,037 | €3,730,119 | -€175,918 | -4.5% |
| Amounts receivable within one year | 40/41 | €3,177,779 | €2,931,676 | -€246,103 | -7.7% |
| Trade receivables | 40 | €224,249 | €453,329 | +€229,080 | +102% |
| Other amounts receivable | 41 | €2,953,530 | €2,478,347 | -€475,184 | -16.1% |
| Cash at bank and in hand | 54/58 | €681,153 | €752,722 | +€71,568 | +10.5% |
| Deferred charges and accrued income | 490/1 | €47,105 | €45,722 | -€1,383 | -2.9% |
| Total equity and liabilities | 10/49 | €33,668,026 | €33,408,720 | -€259,305 | -0.8% |
| Equity | 10/15 | €32,043,293 | €31,610,761 | -€432,532 | -1.3% |
| Contributions | 10/11 | €25,415,104 | €25,415,104 | = | 0.0% |
| Capital | 10 | €25,415,000 | €25,415,000 | = | 0.0% |
| Issued capital | 100 | €25,415,000 | €25,415,000 | = | 0.0% |
| Contributions outside capital | 11 | €104 | €104 | = | 0.0% |
| Share premium | 1100/10 | €104 | €104 | = | 0.0% |
| Reserves | 13 | €6,628,189 | €6,195,657 | -€432,532 | -6.5% |
| Non-distributable reserves | 130/1 | €1,652,078 | €1,654,998 | +€2,920 | +0.2% |
| Legal reserve | 130 | €1,652,078 | €1,654,998 | +€2,920 | +0.2% |
| Distributable reserves | 133 | €4,976,111 | €4,540,659 | -€435,452 | -8.8% |
| Amounts payable | 17/49 | €1,624,733 | €1,797,959 | +€173,227 | +10.7% |
| Amounts payable after more than one year | 17 | €699,968 | €349,964 | -€350,004 | -50.0% |
| Financial debts | 170/4 | €699,968 | €349,964 | -€350,004 | -50.0% |
| Credit institutions | 173 | €699,968 | €349,964 | -€350,004 | -50.0% |
| Amounts payable within one year | 42/48 | €924,440 | €1,447,995 | +€523,555 | +56.6% |
| Current portion of amounts payable after more than one year | 42 | €350,004 | €350,004 | = | 0.0% |
| Trade debts | 44 | €298,109 | €316,760 | +€18,651 | +6.3% |
| Suppliers | 440/4 | €298,109 | €316,760 | +€18,651 | +6.3% |
| Taxes, remuneration and social security | 45 | €266,411 | €290,305 | +€23,894 | +9.0% |
| Taxes | 450/3 | €61,302 | €52,280 | -€9,022 | -14.7% |
| Remuneration and social security | 454/9 | €205,109 | €238,024 | +€32,916 | +16.0% |
| Other amounts payable | 47/48 | €9,916 | €490,927 | +€481,011 | +4,851% |
| Accrued charges and deferred income | 492/3 | €325 | - | -€325 | |
| Operating income | 70/76A | €4,295,723 | €4,415,639 | +€119,916 | +2.8% |
| Turnover | 70 | €4,245,600 | €4,356,000 | +€110,400 | +2.6% |
| Other operating income | 74 | €50,123 | €59,639 | +€9,516 | +19.0% |
| Operating charges | 60/66A | €4,250,174 | €4,197,943 | -€52,231 | -1.2% |
| Services and other goods | 61 | €2,794,892 | €2,556,910 | -€237,982 | -8.5% |
| Remuneration, social security and pensions | 62 | €1,361,486 | €1,518,043 | +€156,557 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,808 | €94,391 | +€9,583 | +11.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €27,206 | +€27,206 | |
| Other operating charges | 640/8 | €1,086 | €1,392 | +€307 | +28.3% |
| Non-recurring operating charges | 66A | €7,903 | - | -€7,903 | |
| Operating profit (loss) | 9901 | €45,549 | €217,696 | +€172,147 | +378% |
| Financial income | 75/76B | €180,245 | €93,145 | -€87,100 | -48.3% |
| Recurring financial income | 75 | €180,245 | €93,145 | -€87,100 | -48.3% |
| Income from financial fixed assets | 750 | €60,209 | €6,306 | -€53,903 | -89.5% |
| Income from current assets | 751 | €120,036 | €86,839 | -€33,197 | -27.7% |
| Financial charges | 65/66B | €13,834 | €206,190 | +€192,356 | +1,390% |
| Recurring financial charges | 65 | €13,834 | €144,990 | +€131,156 | +948% |
| Debt charges | 650 | €12,799 | €8,981 | -€3,818 | -29.8% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €135,000 | +€135,000 | |
| Other financial charges | 652/9 | €1,035 | €1,009 | -€26 | -2.5% |
| Non-recurring financial charges | 66B | - | €61,200 | +€61,200 | |
| Profit (loss) for the period before taxes | 9903 | €211,960 | €104,651 | -€107,309 | -50.6% |
| Income taxes | 67/77 | €50,207 | €46,256 | -€3,951 | -7.9% |
| Taxes | 670/3 | €50,207 | €48,021 | -€2,186 | -4.4% |
| Tax adjustments and reversals of tax provisions | 77 | - | €1,765 | +€1,765 | |
| Profit (loss) for the period | 9904 | €161,753 | €58,395 | -€103,358 | -63.9% |
| Transfer from tax-exempt reserves | 789 | €172,610 | - | -€172,610 | |
| Profit (loss) for the period to be appropriated | 9905 | €334,363 | €58,395 | -€275,968 | -82.5% |
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 19 October 2026 via checked.be.