DS CONSTRUCTIONS: 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 CONSTRUCTIONS
Largest movements
- Cash -€215,261
down €215,261 (-54.9%), from €392,419 to €177,158
mainly Receivables within one year (-€186,047) and Investment in fixed assets (net) (-€65,905)
- Receivables within one year +€186,047
up €186,047 (+104.0%), from €178,938 to €364,985
of which Trade receivables: +€162,453
- Stocks and contracts +€17,755
up €17,755 (+24.1%), from €73,764 to €91,520
- Tangible fixed assets +€15,043
up €15,043 (+5.8%), from €260,848 to €275,892
of which Leasing and similar rights: +€51,891
- Deferred charges and accrued income -€11,788
down €11,788 (-64.3%), from €18,341 to €6,553
- Trade debts +€73,308
up €73,308 (+65.1%), from €112,563 to €185,871
- Tax, wage and social debts -€62,992
down €62,992 (-79.3%), from €79,392 to €16,400
of which Taxes: -€69,290
- Debts after one year +€27,053
up €27,053 (+16.9%), from €159,678 to €186,732
- Advances received -€24,081
no longer reported in 2025 (was €24,081)
- Other debts -€22,686
down €22,686 (-76.8%), from €29,524 to €6,838
- Gross operating margin -€223,983
down €223,983 (-58.5%), from €382,952 to €158,969
- Taxes -€70,262
down €70,262 (-80.1%), from €87,758 to €17,497
- Other operating charges +€10,080
up €10,080 (+203.6%), from €4,950 to €15,029
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 | €924,537 | €916,333 | -€8,204 | -0.9% |
| Fixed assets | 21/28 | €261,074 | €276,118 | +€15,043 | +5.8% |
| Tangible fixed assets | 22/27 | €260,848 | €275,892 | +€15,043 | +5.8% |
| Land and buildings | 22 | €146,200 | €137,600 | -€8,600 | -5.9% |
| Plant, machinery and equipment | 23 | €18,164 | €9,740 | -€8,424 | -46.4% |
| Furniture and vehicles | 24 | €64,381 | €44,557 | -€19,824 | -30.8% |
| Leasing and similar rights | 25 | €32,103 | €83,995 | +€51,891 | +161.6% |
| Financial fixed assets | 28 | €226 | €226 | = | 0.0% |
| Current assets | 29/58 | €663,463 | €640,216 | -€23,247 | -3.5% |
| Stocks and contracts in progress | 3 | €73,764 | €91,520 | +€17,755 | +24.1% |
| Stocks | 30/36 | €73,764 | €91,520 | +€17,755 | +24.1% |
| Amounts receivable within one year | 40/41 | €178,938 | €364,985 | +€186,047 | +104.0% |
| Trade receivables | 40 | €144,116 | €306,569 | +€162,453 | +112.7% |
| Other amounts receivable | 41 | €34,822 | €58,416 | +€23,594 | +67.8% |
| Cash at bank and in hand | 54/58 | €392,419 | €177,158 | -€215,261 | -54.9% |
| Deferred charges and accrued income | 490/1 | €18,341 | €6,553 | -€11,788 | -64.3% |
| Total equity and liabilities | 10/49 | €924,537 | €916,333 | -€8,204 | -0.9% |
| Equity | 10/15 | €437,062 | €437,169 | +€107 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €406,440 | €406,547 | +€107 | 0.0% |
| Distributable reserves | 133 | €406,440 | €406,547 | +€107 | 0.0% |
| Profit (loss) carried forward | 14 | €12,023 | €12,023 | = | 0.0% |
| Amounts payable | 17/49 | €487,475 | €479,164 | -€8,311 | -1.7% |
| Amounts payable after more than one year | 17 | €159,678 | €186,732 | +€27,053 | +16.9% |
| Financial debts | 170/4 | €159,678 | €186,732 | +€27,053 | +16.9% |
| Amounts payable within one year | 42/48 | €327,797 | €292,433 | -€35,364 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €82,237 | €83,324 | +€1,086 | +1.3% |
| Trade debts | 44 | €112,563 | €185,871 | +€73,308 | +65.1% |
| Suppliers | 440/4 | €112,563 | €185,871 | +€73,308 | +65.1% |
| Advances received on contracts in progress | 46 | €24,081 | - | -€24,081 | |
| Taxes, remuneration and social security | 45 | €79,392 | €16,400 | -€62,992 | -79.3% |
| Taxes | 450/3 | €75,688 | €6,397 | -€69,290 | -91.5% |
| Remuneration and social security | 454/9 | €3,705 | €10,003 | +€6,298 | +170.0% |
| Other amounts payable | 47/48 | €29,524 | €6,838 | -€22,686 | -76.8% |
| Remuneration, social security and pensions | 62 | €32,076 | €35,320 | +€3,244 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,105 | €50,861 | +€2,756 | +5.7% |
| Other operating charges | 640/8 | €4,950 | €15,029 | +€10,080 | +203.6% |
| Gross operating margin | 9900 | €382,952 | €158,969 | -€223,983 | -58.5% |
| Operating profit (loss) | 9901 | €297,820 | €57,758 | -€240,063 | -80.6% |
| Financial income | 75/76B | €333 | €55 | -€278 | -83.5% |
| Recurring financial income | 75 | €333 | €55 | -€278 | -83.5% |
| Financial charges | 65/66B | €12,924 | €14,209 | +€1,285 | +9.9% |
| Recurring financial charges | 65 | €12,924 | €14,209 | +€1,285 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €285,229 | €43,604 | -€241,625 | -84.7% |
| Income taxes | 67/77 | €87,758 | €17,497 | -€70,262 | -80.1% |
| Profit (loss) for the period | 9904 | €197,471 | €26,107 | -€171,364 | -86.8% |
| Profit (loss) for the period to be appropriated | 9905 | €197,471 | €26,107 | -€171,364 | -86.8% |
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 7 October 2026 via checked.be.