DORST: 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.
DORST
Largest movements
- Tangible fixed assets +€530,427
up €530,427 (+231.7%), from €228,906 to €759,334
of which Leasing and similar rights: +€471,705
- Cash +€341,679
up €341,679 (+203.1%), from €168,201 to €509,880
mainly Net result for the year (+€261,035) and Debts after one year (+€256,242)
- Receivables within one year -€76,966
down €76,966 (-20.8%), from €369,677 to €292,711
of which Trade receivables: -€82,997
- Intangible fixed assets -€42,502
down €42,502 (-31.4%), from €135,203 to €92,701
- Profit (loss) carried forward +€261,035
up €261,035 (+65.2%), from -€400,653 to -€139,618
- Debts after one year +€256,242
up €256,242 (+33.3%), from €770,337 to €1.0m
- Trade debts +€204,112
up €204,112 (+118.2%), from €172,756 to €376,868
- Other debts -€90,263
down €90,263 (-38.7%), from €232,968 to €142,706
- Current portion of long-term debt +€73,655
up €73,655 (+94.5%), from €77,946 to €151,601
- Gross operating margin +€584,436
up €584,436 (+135.8%), from €430,310 to €1.0m
- Staff costs +€109,665
up €109,665 (+33.6%), from €326,028 to €435,693
- Depreciation +€90,706
up €90,706 (+98.1%), from €92,430 to €183,136
- Financial charges +€27,255
up €27,255 (+35.3%), from €77,318 to €104,573
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 | €1,245,648 | €1,993,833 | +€748,185 | +60.1% |
| Fixed assets | 21/28 | €371,009 | €861,035 | +€490,026 | +132.1% |
| Intangible fixed assets | 21 | €135,203 | €92,701 | -€42,502 | -31.4% |
| Tangible fixed assets | 22/27 | €228,906 | €759,334 | +€530,427 | +231.7% |
| Plant, machinery and equipment | 23 | €159,525 | €225,519 | +€65,994 | +41.4% |
| Furniture and vehicles | 24 | €18,919 | €14,044 | -€4,875 | -25.8% |
| Leasing and similar rights | 25 | €16,646 | €488,350 | +€471,705 | +2833.8% |
| Other tangible fixed assets | 26 | €33,816 | €31,420 | -€2,396 | -7.1% |
| Financial fixed assets | 28 | €6,900 | €9,000 | +€2,100 | +30.4% |
| Current assets | 29/58 | €874,639 | €1,132,798 | +€258,159 | +29.5% |
| Stocks and contracts in progress | 3 | €325,990 | €318,456 | -€7,534 | -2.3% |
| Stocks | 30/36 | €325,990 | €318,456 | -€7,534 | -2.3% |
| Amounts receivable within one year | 40/41 | €369,677 | €292,711 | -€76,966 | -20.8% |
| Trade receivables | 40 | €353,231 | €270,234 | -€82,997 | -23.5% |
| Other amounts receivable | 41 | €16,446 | €22,477 | +€6,031 | +36.7% |
| Cash at bank and in hand | 54/58 | €168,201 | €509,880 | +€341,679 | +203.1% |
| Deferred charges and accrued income | 490/1 | €10,771 | €11,751 | +€980 | +9.1% |
| Total equity and liabilities | 10/49 | €1,245,648 | €1,993,833 | +€748,185 | +60.1% |
| Equity | 10/15 | -€381,398 | -€120,363 | +€261,035 | +68.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €655 | €655 | = | 0.0% |
| Distributable reserves | 133 | €655 | €655 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€400,653 | -€139,618 | +€261,035 | +65.2% |
| Amounts payable | 17/49 | €1,627,046 | €2,114,195 | +€487,150 | +29.9% |
| Amounts payable after more than one year | 17 | €770,337 | €1,026,579 | +€256,242 | +33.3% |
| Financial debts | 170/4 | €770,337 | €1,026,579 | +€256,242 | +33.3% |
| Amounts payable within one year | 42/48 | €816,732 | €1,041,878 | +€225,146 | +27.6% |
| Current portion of amounts payable after more than one year | 42 | €77,946 | €151,601 | +€73,655 | +94.5% |
| Financial debts | 43 | €275,000 | €325,000 | +€50,000 | +18.2% |
| Credit institutions | 430/8 | €275,000 | €325,000 | +€50,000 | +18.2% |
| Trade debts | 44 | €172,756 | €376,868 | +€204,112 | +118.2% |
| Suppliers | 440/4 | €172,756 | €376,868 | +€204,112 | +118.2% |
| Taxes, remuneration and social security | 45 | €58,062 | €45,704 | -€12,358 | -21.3% |
| Taxes | 450/3 | €22,876 | €4,308 | -€18,568 | -81.2% |
| Remuneration and social security | 454/9 | €35,186 | €41,396 | +€6,210 | +17.6% |
| Other amounts payable | 47/48 | €232,968 | €142,706 | -€90,263 | -38.7% |
| Accrued charges and deferred income | 492/3 | €39,977 | €45,739 | +€5,762 | +14.4% |
| Remuneration, social security and pensions | 62 | €326,028 | €435,693 | +€109,665 | +33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,430 | €183,136 | +€90,706 | +98.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,457 | €3,922 | +€465 | +13.5% |
| Other operating charges | 640/8 | €9,392 | €6,607 | -€2,784 | -29.6% |
| Non-recurring operating charges | 66A | €756 | €18,863 | +€18,107 | +2393.6% |
| Gross operating margin | 9900 | €430,310 | €1,014,746 | +€584,436 | +135.8% |
| Operating profit (loss) | 9901 | -€1,754 | €366,524 | +€368,278 | |
| Financial income | 75/76B | €1,372 | €377 | -€994 | -72.5% |
| Recurring financial income | 75 | €1,372 | €377 | -€994 | -72.5% |
| Financial charges | 65/66B | €77,318 | €104,573 | +€27,255 | +35.3% |
| Recurring financial charges | 65 | €77,318 | €104,573 | +€27,255 | +35.3% |
| Profit (loss) for the period before taxes | 9903 | -€77,700 | €262,329 | +€340,028 | |
| Income taxes | 67/77 | €1,212 | €1,293 | +€82 | +6.7% |
| Profit (loss) for the period | 9904 | -€78,911 | €261,035 | +€339,946 | |
| Profit (loss) for the period to be appropriated | 9905 | -€78,911 | €261,035 | +€339,946 |
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 1 October 2026 via checked.be.