DS Développement: 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 Développement
Largest movements
- Receivables within one year +€21,242
up €21,242 (+159%), from €13,346 to €34,587
of which Trade receivables: +€16,079
- Cash -€16,843
down €16,843 (-26.8%), from €62,760 to €45,917
mainly Contributions, distributions and other (-€23,750) and Receivables within one year (-€21,242)
- Intangible fixed assets +€4,382
up €4,382 (+849%), from €516 to €4,898
- Reserves +€20,168
up €20,168 (+64.1%), from €31,466 to €51,634
- Tax, wage and social debts -€6,983
down €6,983 (-18.7%), from €37,392 to €30,409
- Trade debts -€3,387
down €3,387 (-54.8%), from €6,176 to €2,790
- Advances received -€1,780
down €1,780 (-100%), from €1,780 to €0
- Gross operating margin +€16,913
up €16,913 (+36.8%), from €46,005 to €62,917
- Taxes +€3,499
up €3,499 (+32.9%), from €10,634 to €14,133
- Depreciation +€804
up €804 (+176%), from €457 to €1,260
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.
Derived cash bridge
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 | €79,238 | €87,619 | +€8,380 | +10.6% |
| Fixed assets | 21/28 | €2,279 | €5,929 | +€3,650 | +160% |
| Intangible fixed assets | 21 | €516 | €4,898 | +€4,382 | +849% |
| Tangible fixed assets | 22/27 | €1,763 | €1,031 | -€732 | -41.5% |
| Furniture and vehicles | 24 | €1,763 | €1,031 | -€732 | -41.5% |
| Current assets | 29/58 | €76,959 | €81,690 | +€4,731 | +6.1% |
| Amounts receivable within one year | 40/41 | €13,346 | €34,587 | +€21,242 | +159% |
| Trade receivables | 40 | €1,605 | €17,684 | +€16,079 | +1,002% |
| Other amounts receivable | 41 | €11,741 | €16,904 | +€5,163 | +44.0% |
| Cash at bank and in hand | 54/58 | €62,760 | €45,917 | -€16,843 | -26.8% |
| Deferred charges and accrued income | 490/1 | €853 | €1,186 | +€332 | +38.9% |
| Total equity and liabilities | 10/49 | €79,238 | €87,619 | +€8,380 | +10.6% |
| Equity | 10/15 | €32,966 | €53,134 | +€20,168 | +61.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €31,466 | €51,634 | +€20,168 | +64.1% |
| Distributable reserves | 133 | €31,466 | €51,634 | +€20,168 | +64.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €46,273 | €34,485 | -€11,788 | -25.5% |
| Amounts payable within one year | 42/48 | €46,273 | €34,485 | -€11,788 | -25.5% |
| Financial debts | 43 | €925 | €1,287 | +€362 | +39.2% |
| Other loans | 439 | €925 | €1,287 | +€362 | +39.2% |
| Trade debts | 44 | €6,176 | €2,790 | -€3,387 | -54.8% |
| Suppliers | 440/4 | €6,176 | €2,790 | -€3,387 | -54.8% |
| Advances received on contracts in progress | 46 | €1,780 | €0 | -€1,780 | -100% |
| Taxes, remuneration and social security | 45 | €37,392 | €30,409 | -€6,983 | -18.7% |
| Taxes | 450/3 | €37,392 | €30,409 | -€6,983 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €457 | €1,260 | +€804 | +176% |
| Other operating charges | 640/8 | €1,584 | €1,091 | -€493 | -31.1% |
| Gross operating margin | 9900 | €46,005 | €62,917 | +€16,913 | +36.8% |
| Operating profit (loss) | 9901 | €43,964 | €60,566 | +€16,602 | +37.8% |
| Financial income | 75/76B | €29 | €10 | -€19 | -65.7% |
| Recurring financial income | 75 | €29 | €10 | -€19 | -65.7% |
| Financial charges | 65/66B | €2,898 | €2,525 | -€373 | -12.9% |
| Recurring financial charges | 65 | €2,898 | €2,525 | -€373 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €41,095 | €58,051 | +€16,957 | +41.3% |
| Income taxes | 67/77 | €10,634 | €14,133 | +€3,499 | +32.9% |
| Profit (loss) for the period | 9904 | €30,460 | €43,918 | +€13,458 | +44.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,460 | €43,918 | +€13,458 | +44.2% |
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 28 October 2026 via checked.be.