DS Consultancy: 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.
DS Consultancy
Largest movements
- Tangible fixed assets +€49,181
up €49,181 (+5.1%), from €965,369 to €1.0m
of which Other tangible fixed assets: +€87,440
- Receivables within one year -€46,161
down €46,161 (-29.0%), from €158,999 to €112,839
of which Trade receivables: -€43,886
- Cash -€41,741
down €41,741 (-26.1%), from €159,669 to €117,928
mainly Investment in fixed assets (net) (-€162,401) and Other debts (-€76,398)
- Reserves +€142,766
up €142,766 (+35.6%), from €401,474 to €544,240
of which Distributable reserves: +€149,000
- Other debts -€76,398
down €76,398 (-99.4%), from €76,898 to €499
- Trade debts -€54,507
down €54,507 (-94.5%), from €57,680 to €3,173
- Advances received -€38,711
down €38,711 (-92.8%), from €41,736 to €3,025
- Debts after one year -€19,174
down €19,174 (-2.7%), from €708,333 to €689,158
of which Financial debts: -€74,174
- Gross operating margin +€91,882
up €91,882 (+36.3%), from €252,879 to €344,761
- Taxes +€29,477
up €29,477 (+83.9%), from €35,146 to €64,623
- Depreciation +€7,261
up €7,261 (+7.1%), from €102,385 to €109,646
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 | €1,415,173 | €1,395,692 | -€19,481 | -1.4% |
| Fixed assets | 21/28 | €965,369 | €1,018,123 | +€52,755 | +5.5% |
| Intangible fixed assets | 21 | - | €3,573 | +€3,573 | |
| Tangible fixed assets | 22/27 | €965,369 | €1,014,550 | +€49,181 | +5.1% |
| Land and buildings | 22 | €702,061 | €660,936 | -€41,126 | -5.9% |
| Plant, machinery and equipment | 23 | €177,717 | €194,010 | +€16,293 | +9.2% |
| Furniture and vehicles | 24 | €18,977 | €5,551 | -€13,426 | -70.7% |
| Other tangible fixed assets | 26 | €66,614 | €154,053 | +€87,440 | +131.3% |
| Current assets | 29/58 | €449,805 | €377,569 | -€72,236 | -16.1% |
| Stocks and contracts in progress | 3 | €8,755 | €2,760 | -€5,995 | -68.5% |
| Stocks | 30/36 | €3,650 | €2,760 | -€890 | -24.4% |
| Contracts in progress | 37 | €5,105 | - | -€5,105 | |
| Amounts receivable within one year | 40/41 | €158,999 | €112,839 | -€46,161 | -29.0% |
| Trade receivables | 40 | €156,507 | €112,620 | -€43,886 | -28.0% |
| Other amounts receivable | 41 | €2,492 | €218 | -€2,274 | -91.2% |
| Current investments | 50/53 | €118,342 | €129,668 | +€11,327 | +9.6% |
| Cash at bank and in hand | 54/58 | €159,669 | €117,928 | -€41,741 | -26.1% |
| Deferred charges and accrued income | 490/1 | €4,040 | €14,375 | +€10,335 | +255.8% |
| Total equity and liabilities | 10/49 | €1,415,173 | €1,395,692 | -€19,481 | -1.4% |
| Equity | 10/15 | €414,855 | €557,954 | +€143,100 | +34.5% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €401,474 | €544,240 | +€142,766 | +35.6% |
| Tax-exempt reserves | 132 | €22,474 | €16,240 | -€6,234 | -27.7% |
| Distributable reserves | 133 | €379,000 | €528,000 | +€149,000 | +39.3% |
| Profit (loss) carried forward | 14 | €5,321 | €5,654 | +€333 | +6.3% |
| Provisions and deferred taxes | 16 | €5,618 | €4,060 | -€1,558 | -27.7% |
| Deferred taxes | 168 | €5,618 | €4,060 | -€1,558 | -27.7% |
| Amounts payable | 17/49 | €994,700 | €833,678 | -€161,022 | -16.2% |
| Amounts payable after more than one year | 17 | €708,333 | €689,158 | -€19,174 | -2.7% |
| Financial debts | 170/4 | €448,333 | €374,158 | -€74,174 | -16.5% |
| Other amounts payable | 178/9 | €260,000 | €315,000 | +€55,000 | +21.2% |
| Amounts payable within one year | 42/48 | €286,368 | €127,911 | -€158,457 | -55.3% |
| Current portion of amounts payable after more than one year | 42 | €81,764 | €74,174 | -€7,589 | -9.3% |
| Trade debts | 44 | €57,680 | €3,173 | -€54,507 | -94.5% |
| Suppliers | 440/4 | €57,680 | €3,173 | -€54,507 | -94.5% |
| Advances received on contracts in progress | 46 | €41,736 | €3,025 | -€38,711 | -92.8% |
| Taxes, remuneration and social security | 45 | €28,291 | €47,039 | +€18,749 | +66.3% |
| Taxes | 450/3 | €28,291 | €47,039 | +€18,749 | +66.3% |
| Other amounts payable | 47/48 | €76,898 | €499 | -€76,398 | -99.4% |
| Accrued charges and deferred income | 492/3 | - | €16,609 | +€16,609 | |
| Non-recurring operating income | 76A | - | €15,000 | +€15,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,385 | €109,646 | +€7,261 | +7.1% |
| Other operating charges | 640/8 | €8,922 | €8,920 | -€2 | 0.0% |
| Gross operating margin | 9900 | €252,879 | €344,761 | +€91,882 | +36.3% |
| Operating profit (loss) | 9901 | €141,572 | €226,194 | +€84,623 | +59.8% |
| Financial income | 75/76B | €1,464 | €1,965 | +€501 | +34.2% |
| Recurring financial income | 75 | €1,464 | €1,965 | +€501 | +34.2% |
| Financial charges | 65/66B | €25,034 | €21,995 | -€3,039 | -12.1% |
| Recurring financial charges | 65 | €25,034 | €21,995 | -€3,039 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €118,001 | €206,164 | +€88,163 | +74.7% |
| Transfer from deferred taxes | 780 | €1,558 | €1,558 | = | 0.0% |
| Income taxes | 67/77 | €35,146 | €64,623 | +€29,477 | +83.9% |
| Profit (loss) for the period | 9904 | €84,414 | €143,100 | +€58,685 | +69.5% |
| Transfer from tax-exempt reserves | 789 | €6,234 | €6,234 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €90,648 | €149,333 | +€58,685 | +64.7% |
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 9 October 2026 via checked.be.