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
- Tangible fixed assets -€16,358
down €16,358 (-10.0%), from €163,671 to €147,313
of which Land and buildings: -€11,682
- Receivables within one year -€3,624
down €3,624 (-16.3%), from €22,208 to €18,583
of which Trade receivables: -€3,693
- Debts after one year -€12,467
down €12,467 (-13.0%), from €95,910 to €83,443
- Reserves -€11,039
down €11,039 (-11.2%), from €98,207 to €87,168
- Staff costs +€5,475
up €5,475 (+8.6%), from €63,694 to €69,170
- Taxes -€1,961
down €1,961 (-24.8%), from €7,893 to €5,932
- Gross operating margin -€1,922
down €1,922 (-1.7%), from €114,176 to €112,254
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 | €258,643 | €236,027 | -€22,617 | -8.7% |
| Fixed assets | 21/28 | €163,671 | €147,313 | -€16,358 | -10.0% |
| Tangible fixed assets | 22/27 | €163,671 | €147,313 | -€16,358 | -10.0% |
| Land and buildings | 22 | €140,188 | €128,506 | -€11,682 | -8.3% |
| Plant, machinery and equipment | 23 | €19,648 | €14,366 | -€5,282 | -26.9% |
| Furniture and vehicles | 24 | €3,834 | €4,441 | +€607 | +15.8% |
| Current assets | 29/58 | €94,973 | €88,714 | -€6,258 | -6.6% |
| Amounts receivable within one year | 40/41 | €22,208 | €18,583 | -€3,624 | -16.3% |
| Trade receivables | 40 | €22,208 | €18,515 | -€3,693 | -16.6% |
| Other amounts receivable | 41 | €0 | €68 | +€68 | |
| Cash at bank and in hand | 54/58 | €68,510 | €67,183 | -€1,326 | -1.9% |
| Deferred charges and accrued income | 490/1 | €4,255 | €2,947 | -€1,308 | -30.7% |
| Total equity and liabilities | 10/49 | €258,643 | €236,027 | -€22,617 | -8.7% |
| Equity | 10/15 | €116,988 | €105,768 | -€11,220 | -9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €98,207 | €87,168 | -€11,039 | -11.2% |
| Distributable reserves | 133 | €98,207 | €87,168 | -€11,039 | -11.2% |
| Profit (loss) carried forward | 14 | €181 | €0 | -€181 | -100.0% |
| Amounts payable | 17/49 | €141,655 | €130,258 | -€11,397 | -8.0% |
| Amounts payable after more than one year | 17 | €95,910 | €83,443 | -€12,467 | -13.0% |
| Financial debts | 170/4 | €95,910 | €83,443 | -€12,467 | -13.0% |
| Amounts payable within one year | 42/48 | €45,745 | €46,816 | +€1,070 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €12,236 | €12,467 | +€231 | +1.9% |
| Trade debts | 44 | €18,283 | €20,168 | +€1,885 | +10.3% |
| Suppliers | 440/4 | €18,283 | €20,168 | +€1,885 | +10.3% |
| Taxes, remuneration and social security | 45 | €9,469 | €9,968 | +€499 | +5.3% |
| Taxes | 450/3 | €1,693 | €1,693 | = | 0.0% |
| Remuneration and social security | 454/9 | €7,775 | €8,275 | +€499 | +6.4% |
| Other amounts payable | 47/48 | €5,759 | €4,213 | -€1,546 | -26.8% |
| Remuneration, social security and pensions | 62 | €63,694 | €69,170 | +€5,475 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,676 | €19,262 | -€414 | -2.1% |
| Other operating charges | 640/8 | €1,943 | €2,083 | +€140 | +7.2% |
| Gross operating margin | 9900 | €114,176 | €112,254 | -€1,922 | -1.7% |
| Operating profit (loss) | 9901 | €28,862 | €21,739 | -€7,123 | -24.7% |
| Financial income | 75/76B | €4 | €0 | -€4 | -100.0% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -100.0% |
| Financial charges | 65/66B | €4,544 | €3,911 | -€634 | -13.9% |
| Recurring financial charges | 65 | €4,544 | €3,911 | -€634 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €24,322 | €17,829 | -€6,493 | -26.7% |
| Income taxes | 67/77 | €7,893 | €5,932 | -€1,961 | -24.8% |
| Profit (loss) for the period | 9904 | €16,428 | €11,897 | -€4,532 | -27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,428 | €11,897 | -€4,532 | -27.6% |
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 2 October 2026 via checked.be.