DS+: 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.
DS+
Largest movements
- Receivables within one year -€41,218
down €41,218 (-66.4%), from €62,037 to €20,819
of which Other amounts receivable: -€42,673
- Debts after one year -€146,286
down €146,286 (-19.4%), from €752,403 to €606,117
of which Financial debts: -€146,286
- Other debts +€136,912
up €136,912 (+8.2%), from €1.7m to €1.8m
- Current portion of long-term debt +€94,493
up €94,493 (+91.9%), from €102,825 to €197,318
- Profit (loss) carried forward -€82,001
down €82,001 (-90.4%), from -€90,722 to -€172,724
- Depreciation +€24,372
up €24,372 (+16.1%), from €151,240 to €175,612
- Financial charges +€22,384
up €22,384 (+284.1%), from €7,878 to €30,261
- Gross operating margin -€16,186
down €16,186 (-10.5%), from €154,182 to €137,996
- Other operating charges +€2,728
up €2,728 (+22.2%), from €12,297 to €15,025
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 | €3,295,441 | €3,280,692 | -€14,749 | -0.4% |
| Fixed assets | 21/28 | €3,229,158 | €3,249,767 | +€20,609 | +0.6% |
| Tangible fixed assets | 22/27 | €3,229,158 | €3,249,767 | +€20,609 | +0.6% |
| Land and buildings | 22 | €3,214,186 | €3,236,348 | +€22,162 | +0.7% |
| Furniture and vehicles | 24 | €14,972 | €13,419 | -€1,553 | -10.4% |
| Current assets | 29/58 | €66,282 | €30,925 | -€35,357 | -53.3% |
| Amounts receivable within one year | 40/41 | €62,037 | €20,819 | -€41,218 | -66.4% |
| Trade receivables | 40 | €18,584 | €20,039 | +€1,455 | +7.8% |
| Other amounts receivable | 41 | €43,453 | €780 | -€42,673 | -98.2% |
| Cash at bank and in hand | 54/58 | €4,245 | €4,942 | +€697 | +16.4% |
| Deferred charges and accrued income | 490/1 | - | €5,164 | +€5,164 | |
| Total equity and liabilities | 10/49 | €3,295,441 | €3,280,692 | -€14,749 | -0.4% |
| Equity | 10/15 | €741,137 | €659,136 | -€82,001 | -11.1% |
| Contributions | 10/11 | €830,000 | €830,000 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€90,722 | -€172,724 | -€82,001 | -90.4% |
| Amounts payable | 17/49 | €2,554,304 | €2,621,556 | +€67,253 | +2.6% |
| Amounts payable after more than one year | 17 | €752,403 | €606,117 | -€146,286 | -19.4% |
| Financial debts | 170/4 | €750,853 | €604,567 | -€146,286 | -19.5% |
| Other amounts payable | 178/9 | €1,550 | €1,550 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,795,296 | €2,009,449 | +€214,153 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €102,825 | €197,318 | +€94,493 | +91.9% |
| Trade debts | 44 | €28,699 | €9,741 | -€18,958 | -66.1% |
| Suppliers | 440/4 | €28,699 | €9,741 | -€18,958 | -66.1% |
| Taxes, remuneration and social security | 45 | €105 | €1,811 | +€1,706 | +1624.5% |
| Taxes | 450/3 | €105 | €1,811 | +€1,706 | +1624.5% |
| Other amounts payable | 47/48 | €1,663,667 | €1,800,579 | +€136,912 | +8.2% |
| Accrued charges and deferred income | 492/3 | €6,605 | €5,990 | -€615 | -9.3% |
| Non-recurring operating income | 76A | €20,000 | €16,222 | -€3,778 | -18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,240 | €175,612 | +€24,372 | +16.1% |
| Other operating charges | 640/8 | €12,297 | €15,025 | +€2,728 | +22.2% |
| Gross operating margin | 9900 | €154,182 | €137,996 | -€16,186 | -10.5% |
| Operating profit (loss) | 9901 | -€9,354 | -€52,641 | -€43,287 | -462.8% |
| Financial income | 75/76B | €360 | €901 | +€540 | +149.9% |
| Recurring financial income | 75 | €360 | €901 | +€540 | +149.9% |
| Financial charges | 65/66B | €7,878 | €30,261 | +€22,384 | +284.1% |
| Recurring financial charges | 65 | €7,878 | €30,261 | +€22,384 | +284.1% |
| Profit (loss) for the period before taxes | 9903 | -€16,871 | -€82,001 | -€65,130 | -386.0% |
| Profit (loss) for the period | 9904 | -€16,871 | -€82,001 | -€65,130 | -386.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,871 | -€82,001 | -€65,130 | -386.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.