DLSM: 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.
DLSM
Largest movements
- Receivables within one year -€18,956
down €18,956 (-11.0%), from €172,104 to €153,148
of which Trade receivables: -€36,339
- Tangible fixed assets -€14,036
down €14,036 (-64.6%), from €21,733 to €7,697
of which Plant, machinery and equipment: -€13,872
- Cash +€6,757
up €6,757 (+49.1%), from €13,756 to €20,513
mainly Other debts (+€35,089) and Receivables within one year (+€18,956)
- Reserves -€38,164
down €38,164 (-22.3%), from €171,000 to €132,837
- Other debts +€35,089
up €35,089 (+3,009%), from €1,166 to €36,255
- Profit (loss) carried forward -€17,531
down €17,531, from €0 to -€17,531
- Current portion of long-term debt -€8,825
down €8,825 (-100%), from €8,825 to €0
- Tax, wage and social debts +€5,268
up €5,268 (+43.4%), from €12,128 to €17,396
of which Remuneration and social security: +€3,403
- Staff costs +€126,425
up €126,425 (+47.5%), from €266,154 to €392,579
- Gross operating margin +€85,984
up €85,984 (+27.9%), from €308,123 to €394,107
- Taxes -€5,373
down €5,373 (-96.6%), from €5,563 to €190
- Depreciation -€4,829
down €4,829 (-26.4%), from €18,313 to €13,484
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 | €229,432 | €205,330 | -€24,102 | -10.5% |
| Fixed assets | 21/28 | €27,893 | €13,857 | -€14,036 | -50.3% |
| Tangible fixed assets | 22/27 | €21,733 | €7,697 | -€14,036 | -64.6% |
| Plant, machinery and equipment | 23 | €21,569 | €7,697 | -€13,872 | -64.3% |
| Furniture and vehicles | 24 | €164 | €0 | -€164 | -100% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €6,160 | €6,160 | = | 0.0% |
| Current assets | 29/58 | €201,539 | €191,473 | -€10,066 | -5.0% |
| Amounts receivable within one year | 40/41 | €172,104 | €153,148 | -€18,956 | -11.0% |
| Trade receivables | 40 | €133,507 | €97,168 | -€36,339 | -27.2% |
| Other amounts receivable | 41 | €38,597 | €55,981 | +€17,383 | +45.0% |
| Cash at bank and in hand | 54/58 | €13,756 | €20,513 | +€6,757 | +49.1% |
| Deferred charges and accrued income | 490/1 | €15,678 | €17,812 | +€2,133 | +13.6% |
| Total equity and liabilities | 10/49 | €229,432 | €205,330 | -€24,102 | -10.5% |
| Equity | 10/15 | €172,000 | €116,305 | -€55,695 | -32.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €171,000 | €132,837 | -€38,164 | -22.3% |
| Distributable reserves | 133 | €171,000 | €132,837 | -€38,164 | -22.3% |
| Profit (loss) carried forward | 14 | €0 | -€17,531 | -€17,531 | |
| Amounts payable | 17/49 | €57,432 | €89,025 | +€31,593 | +55.0% |
| Amounts payable within one year | 42/48 | €57,432 | €89,025 | +€31,593 | +55.0% |
| Current portion of amounts payable after more than one year | 42 | €8,825 | €0 | -€8,825 | -100% |
| Trade debts | 44 | €35,313 | €35,373 | +€60 | +0.2% |
| Suppliers | 440/4 | €35,313 | €35,373 | +€60 | +0.2% |
| Taxes, remuneration and social security | 45 | €12,128 | €17,396 | +€5,268 | +43.4% |
| Taxes | 450/3 | €2,669 | €4,534 | +€1,865 | +69.9% |
| Remuneration and social security | 454/9 | €9,459 | €12,862 | +€3,403 | +36.0% |
| Other amounts payable | 47/48 | €1,166 | €36,255 | +€35,089 | +3,009% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €266,154 | €392,579 | +€126,425 | +47.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,313 | €13,484 | -€4,829 | -26.4% |
| Other operating charges | 640/8 | €2,295 | €3,626 | +€1,332 | +58.0% |
| Non-recurring operating charges | 66A | €643 | €553 | -€90 | -14.0% |
| Gross operating margin | 9900 | €308,123 | €394,107 | +€85,984 | +27.9% |
| Operating profit (loss) | 9901 | €20,719 | -€16,136 | -€36,854 | |
| Financial income | 75/76B | €1,910 | €1,034 | -€877 | -45.9% |
| Recurring financial income | 75 | €1,910 | €1,034 | -€877 | -45.9% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €4,853 | €2,239 | -€2,614 | -53.9% |
| Recurring financial charges | 65 | €4,853 | €2,239 | -€2,614 | -53.9% |
| Profit (loss) for the period before taxes | 9903 | €17,776 | -€17,341 | -€35,117 | |
| Income taxes | 67/77 | €5,563 | €190 | -€5,373 | -96.6% |
| Profit (loss) for the period | 9904 | €12,213 | -€17,531 | -€29,744 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,213 | -€17,531 | -€29,744 |
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 13 October 2026 via checked.be.