DS GD Belgium: 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 GD Belgium
Largest movements
- Receivables within one year +€139,101
up €139,101 (+766%), from €18,156 to €157,257
of which Other amounts receivable: +€140,108
- Cash -€71,494
down €71,494 (-49.4%), from €144,740 to €73,246
- Intangible fixed assets -€12,738
no longer reported in 2025 (was €12,738)
- Stocks and contracts -€6,429
down €6,429 (-6.8%), from €95,148 to €88,719
- Profit (loss) carried forward +€34,509
up €34,509 (+58.9%), from €58,637 to €93,146
- Trade debts +€12,923
up €12,923 (+5.1%), from €252,992 to €265,914
- Staff costs +€5,848
up €5,848 (+2.1%), from €272,339 to €278,187
- Financial charges -€3,690
down €3,690 (-40.7%), from €9,063 to €5,373
- Financial income +€3,416
up €3,416 (+4,270,088%), from €0 to €3,416
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €431,531 | €479,688 | +€48,156 | +11.2% |
| Fixed assets | 21/28 | €147,941 | €132,628 | -€15,313 | -10.4% |
| Intangible fixed assets | 21 | €12,738 | - | -€12,738 | |
| Tangible fixed assets | 22/27 | €10,204 | €7,628 | -€2,575 | -25.2% |
| Other tangible fixed assets | 26 | €10,204 | €7,628 | -€2,575 | -25.2% |
| Financial fixed assets | 28 | €125,000 | €125,000 | = | 0.0% |
| Current assets | 29/58 | €283,590 | €347,059 | +€63,469 | +22.4% |
| Stocks and contracts in progress | 3 | €95,148 | €88,719 | -€6,429 | -6.8% |
| Stocks | 30/36 | €95,148 | €88,719 | -€6,429 | -6.8% |
| Amounts receivable within one year | 40/41 | €18,156 | €157,257 | +€139,101 | +766% |
| Trade receivables | 40 | €14,126 | €13,119 | -€1,007 | -7.1% |
| Other amounts receivable | 41 | €4,030 | €144,138 | +€140,108 | +3,477% |
| Cash at bank and in hand | 54/58 | €144,740 | €73,246 | -€71,494 | -49.4% |
| Deferred charges and accrued income | 490/1 | €25,546 | €27,838 | +€2,291 | +9.0% |
| Total equity and liabilities | 10/49 | €431,531 | €479,688 | +€48,156 | +11.2% |
| Equity | 10/15 | €59,637 | €94,146 | +€34,509 | +57.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,637 | €93,146 | +€34,509 | +58.9% |
| Amounts payable | 17/49 | €371,895 | €385,542 | +€13,647 | +3.7% |
| Amounts payable within one year | 42/48 | €371,884 | €383,985 | +€12,102 | +3.3% |
| Trade debts | 44 | €252,992 | €265,914 | +€12,923 | +5.1% |
| Suppliers | 440/4 | €252,992 | €265,914 | +€12,923 | +5.1% |
| Advances received on contracts in progress | 46 | €13,008 | €12,870 | -€139 | -1.1% |
| Taxes, remuneration and social security | 45 | €105,619 | €105,201 | -€418 | -0.4% |
| Taxes | 450/3 | €73,572 | €72,701 | -€872 | -1.2% |
| Remuneration and social security | 454/9 | €32,047 | €32,500 | +€454 | +1.4% |
| Other amounts payable | 47/48 | €265 | - | -€265 | |
| Accrued charges and deferred income | 492/3 | €11 | €1,557 | +€1,546 | +13,740% |
| Remuneration, social security and pensions | 62 | €272,339 | €278,187 | +€5,848 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,208 | €7,025 | -€1,183 | -14.4% |
| Other operating charges | 640/8 | €15,863 | €18,978 | +€3,115 | +19.6% |
| Gross operating margin | 9900 | €328,049 | €329,970 | +€1,921 | +0.6% |
| Operating profit (loss) | 9901 | €31,638 | €25,779 | -€5,859 | -18.5% |
| Financial income | 75/76B | €0 | €3,416 | +€3,416 | +4,270,088% |
| Recurring financial income | 75 | €0 | €3,416 | +€3,416 | +4,270,088% |
| Financial charges | 65/66B | €9,063 | €5,373 | -€3,690 | -40.7% |
| Recurring financial charges | 65 | €9,063 | €5,373 | -€3,690 | -40.7% |
| Profit (loss) for the period before taxes | 9903 | €22,575 | €23,822 | +€1,247 | +5.5% |
| Income taxes | 67/77 | €5,589 | €6,652 | +€1,063 | +19.0% |
| Profit (loss) for the period | 9904 | €16,987 | €17,170 | +€183 | +1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,987 | €17,170 | +€183 | +1.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.