DMSDP M&A: 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.
DMSDP M&A
Largest movements
- Cash +€297,320
up €297,320 (+179%), from €165,897 to €463,217
mainly Net result for the year (+€277,923) and Current investments (+€135,000)
- Current investments -€135,000
no longer reported in 2025 (was €135,000)
- Tangible fixed assets -€28,519
no longer reported in 2025 (was €28,519)
- Receivables within one year -€13,887
down €13,887 (-8.6%), from €162,190 to €148,303
of which Other amounts receivable: -€8,364
- Other debts +€85,000
up €85,000 (+32.2%), from €264,000 to €349,000
- Trade debts +€73,117
up €73,117 (+54.3%), from €134,542 to €207,659
- Tax, wage and social debts -€26,057
down €26,057 (-95.0%), from €27,419 to €1,362
of which Taxes: -€15,857
- Profit (loss) carried forward -€7,077
down €7,077 (-85.3%), from €8,301 to €1,224
- Staff costs -€80,790
down €80,790 (-99.3%), from €81,339 to €549
- Gross operating margin +€54,691
up €54,691 (+23.1%), from €237,152 to €291,843
- Taxes +€9,948
up €9,948 (+387%), from €2,572 to €12,520
- Depreciation -€4,120
no longer reported in 2025 (was €4,120)
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 | €491,606 | €611,520 | +€119,914 | +24.4% |
| Fixed assets | 21/28 | €28,519 | - | -€28,519 | |
| Tangible fixed assets | 22/27 | €28,519 | - | -€28,519 | |
| Furniture and vehicles | 24 | €28,519 | - | -€28,519 | |
| Current assets | 29/58 | €463,087 | €611,520 | +€148,433 | +32.1% |
| Amounts receivable within one year | 40/41 | €162,190 | €148,303 | -€13,887 | -8.6% |
| Trade receivables | 40 | €141,353 | €135,830 | -€5,523 | -3.9% |
| Other amounts receivable | 41 | €20,837 | €12,473 | -€8,364 | -40.1% |
| Current investments | 50/53 | €135,000 | - | -€135,000 | |
| Cash at bank and in hand | 54/58 | €165,897 | €463,217 | +€297,320 | +179% |
| Total equity and liabilities | 10/49 | €491,606 | €611,520 | +€119,914 | +24.4% |
| Equity | 10/15 | €59,301 | €52,224 | -€7,077 | -11.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €21,000 | €21,000 | = | 0.0% |
| Distributable reserves | 133 | €21,000 | €21,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,301 | €1,224 | -€7,077 | -85.3% |
| Amounts payable | 17/49 | €432,305 | €559,296 | +€126,991 | +29.4% |
| Amounts payable after more than one year | 17 | €1,275 | - | -€1,275 | |
| Financial debts | 170/4 | €1,275 | - | -€1,275 | |
| Amounts payable within one year | 42/48 | €431,030 | €559,296 | +€128,266 | +29.8% |
| Current portion of amounts payable after more than one year | 42 | €5,068 | €1,275 | -€3,793 | -74.8% |
| Trade debts | 44 | €134,542 | €207,659 | +€73,117 | +54.3% |
| Suppliers | 440/4 | €134,542 | €207,659 | +€73,117 | +54.3% |
| Taxes, remuneration and social security | 45 | €27,419 | €1,362 | -€26,057 | -95.0% |
| Taxes | 450/3 | €17,219 | €1,362 | -€15,857 | -92.1% |
| Remuneration and social security | 454/9 | €10,201 | - | -€10,201 | |
| Other amounts payable | 47/48 | €264,000 | €349,000 | +€85,000 | +32.2% |
| Non-recurring operating income | 76A | €4,835 | - | -€4,835 | |
| Remuneration, social security and pensions | 62 | €81,339 | €549 | -€80,790 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,120 | - | -€4,120 | |
| Other operating charges | 640/8 | €1,583 | €321 | -€1,262 | -79.7% |
| Non-recurring operating charges | 66A | - | €4,519 | +€4,519 | |
| Gross operating margin | 9900 | €237,152 | €291,843 | +€54,691 | +23.1% |
| Operating profit (loss) | 9901 | €150,110 | €286,454 | +€136,344 | +90.8% |
| Financial income | 75/76B | €1,639 | €4,461 | +€2,822 | +172% |
| Recurring financial income | 75 | €1,639 | €4,461 | +€2,822 | +172% |
| Financial charges | 65/66B | €1,725 | €472 | -€1,253 | -72.6% |
| Recurring financial charges | 65 | €614 | €472 | -€142 | -23.1% |
| Non-recurring financial charges | 66B | €1,112 | - | -€1,112 | |
| Profit (loss) for the period before taxes | 9903 | €150,023 | €290,443 | +€140,420 | +93.6% |
| Income taxes | 67/77 | €2,572 | €12,520 | +€9,948 | +387% |
| Profit (loss) for the period | 9904 | €147,450 | €277,923 | +€130,473 | +88.5% |
| Profit (loss) for the period to be appropriated | 9905 | €147,450 | €277,923 | +€130,473 | +88.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.