DRS BELGIUM: 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
DRS BELGIUM
NACE 69.109, Other legal services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€3.4m
2024 · -€652,455-€2.8m
Equity
-€1.9m
2024 · €1.5m-€3.4m
Cash
€7.8m
2024 · €480,761+€7.3m
Balance sheet total
€41.8m
2024 · €25.4m+€16.4m
Largest movements
Assets
- Receivables within one year +€7.4m
up €7.4m (+47.2%), from €15.7m to €23.0m
of which Other amounts receivable: +€5.3m
- Cash +€7.3m
up €7.3m (+1,524%), from €480,761 to €7.8m
mainly Debts after one year (+€13.3m) and Trade debts (+€4.0m)
- Stocks and contracts +€1.7m
up €1.7m (+18.6%), from €9.0m to €10.6m
Equity and liabilities
- Debts after one year +€13.3m
up €13.3m, from €0 to €13.3m
- Trade debts +€4.0m
up €4.0m (+43.8%), from €9.1m to €13.1m
- Advances received +€3.6m
up €3.6m (+21,206%), from €17,000 to €3.6m
- Profit (loss) carried forward -€3.4m
down €3.4m (-523%), from -€651,888 to -€4.1m
- Other debts -€1.5m
down €1.5m (-12.5%), from €12.0m to €10.5m
Income statement
- Services and other goods +€8.5m
new in 2025: €8.5m
- Turnover +€4.9m
new in 2025: €4.9m
- Gross operating margin -€2.3m
no longer reported in 2025 (was €2.3m)
- Taxes -€637,185
down €637,185, from €319,124 to -€318,062
- Provisions -€474,711
down €474,711 (-100%), from €474,711 to €0
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
-€652,455
Turnover
+€4.9m
Other operating income
+€13,447
Services and other goods
-€8.5m
Staff costs
+€18,766
Depreciation
+€32,051
Write-downs
+€27,579
Provisions
+€474,711
Other operating charges
-€11,811
Other operating items
+€1,293
Financial income
+€3,461
Financial charges
-€333,798
Taxes
+€637,185
Result 2025
-€3.4m
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
-€5.8m
Investment
-€121,418
Financing
+€13.2m
Cash 2024
€480,761
From operations (derived)
-€5.8m
Net result for the year
-€3.4m
Depreciation
+€172,198
Stocks and contracts
-€1.7m
Receivables within one year
-€7.4m
Deferred charges and accrued income
-€36,986
Trade debts
+€4.0m
Tax, wage and social debts
+€365,667
Advances received
+€3.6m
Other debts
-€1.5m
Accrued charges and deferred income
+€86,379
Investment (derived)
-€121,418
Investment in fixed assets (net)
-€121,418
Financing
+€13.2m
Debts after one year
+€13.3m
Current portion of long-term debt
-€37,558
Cash 2025
€7.8m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,445,696 | €41,815,214 | +€16.4m | +64.3% |
| Fixed assets | 21/28 | €321,387 | €270,607 | -€50,779 | -15.8% |
| Intangible fixed assets | 21 | €246,054 | €133,843 | -€112,212 | -45.6% |
| Tangible fixed assets | 22/27 | €50,752 | €89,103 | +€38,351 | +75.6% |
| Furniture and vehicles | 24 | €50,752 | €63,214 | +€12,462 | +24.6% |
| Other tangible fixed assets | 26 | €0 | €25,889 | +€25,889 | |
| Financial fixed assets | 28 | €24,580 | €47,661 | +€23,081 | +93.9% |
| Affiliated companies | 280/1 | - | €10,000 | +€10,000 | |
| Participating interests | 280 | - | €10,000 | +€10,000 | |
| Other financial fixed assets | 284/8 | - | €37,661 | +€37,661 | |
| Amounts receivable and cash guarantees | 285/8 | - | €37,661 | +€37,661 | |
| Current assets | 29/58 | €25,124,309 | €41,544,607 | +€16.4m | +65.4% |
| Stocks and contracts in progress | 3 | €8,958,392 | €10,625,559 | +€1.7m | +18.6% |
| Contracts in progress | 37 | €8,958,392 | €10,625,559 | +€1.7m | +18.6% |
| Amounts receivable within one year | 40/41 | €15,661,193 | €23,048,633 | +€7.4m | +47.2% |
| Trade receivables | 40 | €8,723,450 | €10,836,248 | +€2.1m | +24.2% |
| Other amounts receivable | 41 | €6,937,743 | €12,212,385 | +€5.3m | +76.0% |
| Current investments | 50/53 | €3,099 | €3,099 | = | 0.0% |
| Other investments | 51/53 | - | €3,099 | +€3,099 | |
| Cash at bank and in hand | 54/58 | €480,761 | €7,809,466 | +€7.3m | +1,524% |
| Deferred charges and accrued income | 490/1 | €20,864 | €57,850 | +€36,986 | +177% |
| Total equity and liabilities | 10/49 | €25,445,696 | €41,815,214 | +€16.4m | +64.3% |
| Equity | 10/15 | €1,475,086 | -€1,931,761 | -€3.4m | |
| Contributions | 10/11 | €2,126,808 | €2,126,808 | = | 0.0% |
| Reserves | 13 | €166 | €166 | = | 0.0% |
| Tax-exempt reserves | 132 | €166 | €166 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€651,888 | -€4,058,734 | -€3.4m | -523% |
| Provisions and deferred taxes | 16 | €474,711 | €474,711 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €474,711 | €474,711 | = | 0.0% |
| Environmental obligations | 163 | €474,711 | €474,711 | = | 0.0% |
| Amounts payable | 17/49 | €23,495,899 | €43,272,264 | +€19.8m | +84.2% |
| Amounts payable after more than one year | 17 | €0 | €13,285,000 | +€13.3m | |
| Financial debts | 170/4 | €0 | €13,285,000 | +€13.3m | |
| Other loans | 174 | - | €13,285,000 | +€13.3m | |
| Amounts payable within one year | 42/48 | €23,476,497 | €29,881,484 | +€6.4m | +27.3% |
| Current portion of amounts payable after more than one year | 42 | €1,641,856 | €1,604,298 | -€37,558 | -2.3% |
| Trade debts | 44 | €9,079,804 | €13,058,978 | +€4.0m | +43.8% |
| Suppliers | 440/4 | €9,079,804 | €13,058,978 | +€4.0m | +43.8% |
| Advances received on contracts in progress | 46 | €17,000 | €3,622,016 | +€3.6m | +21,206% |
| Taxes, remuneration and social security | 45 | €702,686 | €1,068,353 | +€365,667 | +52.0% |
| Taxes | 450/3 | €318,062 | €788,916 | +€470,854 | +148% |
| Remuneration and social security | 454/9 | €384,624 | €279,437 | -€105,187 | -27.3% |
| Other amounts payable | 47/48 | €12,035,151 | €10,527,839 | -€1.5m | -12.5% |
| Accrued charges and deferred income | 492/3 | €19,402 | €105,780 | +€86,379 | +445% |
| Operating income | 70/76A | - | €7,189,200 | +€7.2m | |
| Turnover | 70 | - | €4,855,435 | +€4.9m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | €2,320,318 | +€2.3m | |
| Other operating income | 74 | - | €13,447 | +€13,447 | |
| Operating charges | 60/66A | - | €10,220,969 | +€10.2m | |
| Services and other goods | 61 | - | €8,472,710 | +€8.5m | |
| Remuneration, social security and pensions | 62 | €1,544,786 | €1,526,021 | -€18,766 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €204,249 | €172,198 | -€32,051 | -15.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €65,679 | €38,100 | -€27,579 | -42.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €474,711 | €0 | -€474,711 | -100% |
| Other operating charges | 640/8 | €130 | €11,940 | +€11,811 | +9,113% |
| Gross operating margin | 9900 | €2,319,026 | - | -€2.3m | |
| Operating profit (loss) | 9901 | €29,471 | -€3,031,769 | -€3.1m | |
| Financial income | 75/76B | €8,945 | €12,406 | +€3,461 | +38.7% |
| Recurring financial income | 75 | €8,945 | €12,406 | +€3,461 | +38.7% |
| Income from current assets | 751 | - | €186 | +€186 | |
| Other financial income | 752/9 | - | €12,219 | +€12,219 | |
| Financial charges | 65/66B | €371,747 | €705,545 | +€333,798 | +89.8% |
| Recurring financial charges | 65 | €371,747 | €705,545 | +€333,798 | +89.8% |
| Debt charges | 650 | - | €681,369 | +€681,369 | |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | -€1,762 | -€1,762 | |
| Other financial charges | 652/9 | - | €25,938 | +€25,938 | |
| Profit (loss) for the period before taxes | 9903 | -€333,331 | -€3,724,909 | -€3.4m | -1,017% |
| Income taxes | 67/77 | €319,124 | -€318,062 | -€637,185 | |
| Taxes | 670/3 | - | €0 | = | |
| Tax adjustments and reversals of tax provisions | 77 | - | €318,062 | +€318,062 | |
| Profit (loss) for the period | 9904 | -€652,455 | -€3,406,847 | -€2.8m | -422% |
| Profit (loss) for the period to be appropriated | 9905 | -€652,455 | -€3,406,847 | -€2.8m | -422% |
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 1 November 2026 via checked.be.