DLS Management: 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.
DLS Management
Largest movements
- Receivables within one year -€292,410
down €292,410 (-87.2%), from €335,272 to €42,862
of which Other amounts receivable: -€274,333
- Tangible fixed assets +€139,437
up €139,437 (+30.1%), from €463,972 to €603,409
of which Plant, machinery and equipment: +€95,456
- Cash +€25,937
up €25,937 (+136.8%), from €18,958 to €44,896
mainly Receivables within one year (+€292,410) and Depreciation (+€155,054)
- Debts after one year -€141,624
down €141,624 (-10.5%), from €1.4m to €1.2m
of which Other amounts payable: -€162,163
- Depreciation +€56,044
up €56,044 (+56.6%), from €99,010 to €155,054
- Financial income +€38,317
up €38,317, from €0 to €38,317
- Gross operating margin +€24,518
up €24,518 (+20.6%), from €118,983 to €143,501
- Other operating charges +€3,589
up €3,589 (+88.5%), from €4,053 to €7,642
- Financial charges +€1,489
up €1,489 (+30.0%), from €4,963 to €6,452
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 | €2,486,618 | €2,361,875 | -€124,743 | -5.0% |
| Fixed assets | 21/28 | €2,131,517 | €2,272,648 | +€141,132 | +6.6% |
| Tangible fixed assets | 22/27 | €463,972 | €603,409 | +€139,437 | +30.1% |
| Land and buildings | 22 | €150,290 | €142,928 | -€7,362 | -4.9% |
| Plant, machinery and equipment | 23 | €267,210 | €362,666 | +€95,456 | +35.7% |
| Furniture and vehicles | 24 | €46,472 | €45,097 | -€1,375 | -3.0% |
| Leasing and similar rights | 25 | - | €52,718 | +€52,718 | |
| Financial fixed assets | 28 | €1,667,544 | €1,669,240 | +€1,695 | +0.1% |
| Current assets | 29/58 | €355,102 | €89,227 | -€265,875 | -74.9% |
| Amounts receivable within one year | 40/41 | €335,272 | €42,862 | -€292,410 | -87.2% |
| Trade receivables | 40 | €34,660 | €16,583 | -€18,077 | -52.2% |
| Other amounts receivable | 41 | €300,612 | €26,279 | -€274,333 | -91.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €18,958 | €44,896 | +€25,937 | +136.8% |
| Deferred charges and accrued income | 490/1 | €871 | €1,469 | +€598 | +68.7% |
| Total equity and liabilities | 10/49 | €2,486,618 | €2,361,875 | -€124,743 | -5.0% |
| Equity | 10/15 | €1,099,809 | €1,112,062 | +€12,254 | +1.1% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,809 | €112,062 | +€12,254 | +12.3% |
| Amounts payable | 17/49 | €1,386,810 | €1,249,813 | -€136,997 | -9.9% |
| Amounts payable after more than one year | 17 | €1,352,889 | €1,211,266 | -€141,624 | -10.5% |
| Financial debts | 170/4 | €240,372 | €260,911 | +€20,539 | +8.5% |
| Other amounts payable | 178/9 | €1,112,517 | €950,354 | -€162,163 | -14.6% |
| Amounts payable within one year | 42/48 | €33,921 | €38,547 | +€4,627 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €19,166 | €31,994 | +€12,828 | +66.9% |
| Trade debts | 44 | €3,121 | €2,636 | -€485 | -15.5% |
| Suppliers | 440/4 | €3,121 | €2,636 | -€485 | -15.5% |
| Taxes, remuneration and social security | 45 | €11,633 | €3,917 | -€7,716 | -66.3% |
| Taxes | 450/3 | €11,633 | €3,917 | -€7,716 | -66.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €8,034 | €0 | -€8,034 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,010 | €155,054 | +€56,044 | +56.6% |
| Other operating charges | 640/8 | €4,053 | €7,642 | +€3,589 | +88.5% |
| Gross operating margin | 9900 | €118,983 | €143,501 | +€24,518 | +20.6% |
| Operating profit (loss) | 9901 | €15,919 | -€19,195 | -€35,114 | |
| Financial income | 75/76B | €0 | €38,317 | +€38,317 | |
| Recurring financial income | 75 | €0 | €38,317 | +€38,317 | |
| Financial charges | 65/66B | €4,963 | €6,452 | +€1,489 | +30.0% |
| Recurring financial charges | 65 | €4,963 | €6,452 | +€1,489 | +30.0% |
| Profit (loss) for the period before taxes | 9903 | €10,957 | €12,670 | +€1,714 | +15.6% |
| Income taxes | 67/77 | €1,345 | €417 | -€928 | -69.0% |
| Profit (loss) for the period | 9904 | €9,612 | €12,254 | +€2,642 | +27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,612 | €12,254 | +€2,642 | +27.5% |
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 5 October 2026 via checked.be.