DS CONSTRUCT: 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 CONSTRUCT
Largest movements
- Cash +€261,189
up €261,189 (+3043.6%), from €8,582 to €269,770
mainly Debts after one year (+€218,735) and Stocks and contracts (+€159,195)
- Stocks and contracts -€159,195
down €159,195 (-7.4%), from €2.1m to €2.0m
- Receivables within one year -€69,390
down €69,390 (-61.8%), from €112,343 to €42,952
of which Trade receivables: -€65,595
- Debts after one year +€218,735
up €218,735 (+208.4%), from €104,963 to €323,697
- Other debts -€142,082
down €142,082 (-15.3%), from €929,843 to €787,761
- Current portion of long-term debt -€81,787
down €81,787 (-8.1%), from €1.0m to €928,442
- Profit (loss) carried forward +€63,769
up €63,769, from -€63,330 to €438
- Trade debts -€32,541
down €32,541 (-26.0%), from €125,395 to €92,853
- Gross operating margin +€16,033
up €16,033 (+21.6%), from €74,389 to €90,422
- Financial charges +€5,735
up €5,735 (+44.7%), from €12,830 to €18,565
- Depreciation -€1,731
down €1,731 (-21.4%), from €8,071 to €6,340
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 | €2,350,966 | €2,377,839 | +€26,873 | +1.1% |
| Fixed assets | 21/28 | €86,171 | €79,831 | -€6,340 | -7.4% |
| Tangible fixed assets | 22/27 | €86,171 | €79,831 | -€6,340 | -7.4% |
| Land and buildings | 22 | €86,171 | €79,831 | -€6,340 | -7.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €2,264,795 | €2,298,008 | +€33,213 | +1.5% |
| Stocks and contracts in progress | 3 | €2,143,511 | €1,984,315 | -€159,195 | -7.4% |
| Stocks | 30/36 | €2,143,511 | €1,984,315 | -€159,195 | -7.4% |
| Amounts receivable within one year | 40/41 | €112,343 | €42,952 | -€69,390 | -61.8% |
| Trade receivables | 40 | €105,291 | €39,696 | -€65,595 | -62.3% |
| Other amounts receivable | 41 | €7,052 | €3,256 | -€3,796 | -53.8% |
| Cash at bank and in hand | 54/58 | €8,582 | €269,770 | +€261,189 | +3043.6% |
| Deferred charges and accrued income | 490/1 | €360 | €970 | +€610 | +169.5% |
| Total equity and liabilities | 10/49 | €2,350,966 | €2,377,839 | +€26,873 | +1.1% |
| Equity | 10/15 | €178,374 | €242,143 | +€63,769 | +35.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €63,145 | €58,199 | -€4,946 | -7.8% |
| Reserves | 13 | €159,967 | €164,913 | +€4,946 | +3.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €158,108 | €163,053 | +€4,946 | +3.1% |
| Profit (loss) carried forward | 14 | -€63,330 | €438 | +€63,769 | |
| Amounts payable | 17/49 | €2,172,592 | €2,135,696 | -€36,896 | -1.7% |
| Amounts payable after more than one year | 17 | €104,963 | €323,697 | +€218,735 | +208.4% |
| Financial debts | 170/4 | €104,963 | €323,697 | +€218,735 | +208.4% |
| Amounts payable within one year | 42/48 | €2,065,480 | €1,809,073 | -€256,407 | -12.4% |
| Current portion of amounts payable after more than one year | 42 | €1,010,229 | €928,442 | -€81,787 | -8.1% |
| Trade debts | 44 | €125,395 | €92,853 | -€32,541 | -26.0% |
| Suppliers | 440/4 | €125,395 | €92,853 | -€32,541 | -26.0% |
| Taxes, remuneration and social security | 45 | €13 | €17 | +€4 | +28.7% |
| Taxes | 450/3 | €13 | €17 | +€4 | +28.7% |
| Other amounts payable | 47/48 | €929,843 | €787,761 | -€142,082 | -15.3% |
| Accrued charges and deferred income | 492/3 | €2,149 | €2,926 | +€776 | +36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,071 | €6,340 | -€1,731 | -21.4% |
| Other operating charges | 640/8 | €1,087 | €1,749 | +€662 | +60.9% |
| Gross operating margin | 9900 | €74,389 | €90,422 | +€16,033 | +21.6% |
| Operating profit (loss) | 9901 | €65,231 | €82,333 | +€17,101 | +26.2% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €12,830 | €18,565 | +€5,735 | +44.7% |
| Recurring financial charges | 65 | €12,830 | €18,565 | +€5,735 | +44.7% |
| Profit (loss) for the period before taxes | 9903 | €52,402 | €63,769 | +€11,367 | +21.7% |
| Profit (loss) for the period | 9904 | €52,402 | €63,769 | +€11,367 | +21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,402 | €63,769 | +€11,367 | +21.7% |
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 8 October 2026 via checked.be.