DS GHOST: 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 GHOST
Largest movements
- Cash -€5,337
down €5,337 (-65.7%), from €8,119 to €2,782
mainly Net result for the year (-€16,556) and Stocks and contracts (-€177)
- Receivables within one year -€4,641
down €4,641 (-88.4%), from €5,248 to €607
- Intangible fixed assets -€1,500
down €1,500 (-11.1%), from €13,500 to €12,000
- Tangible fixed assets -€1,225
down €1,225 (-10.9%), from €11,229 to €10,004
- Profit (loss) carried forward -€16,556
down €16,556 (-30.6%), from -€54,073 to -€70,629
- Other debts +€2,048
up €2,048 (+2.2%), from €92,894 to €94,942
- Trade debts +€1,566
up €1,566 (+360.5%), from €434 to €2,000
of which Bills of exchange payable: +€2,000
- Tax, wage and social debts +€416
new in 2025: €416
- Gross operating margin +€11,429
up €11,429 (+59.2%), from -€19,308 to -€7,880
- Other operating charges +€1,960
up €1,960 (+60.5%), from €3,240 to €5,200
- Financial charges -€258
down €258 (-25.5%), from €1,009 to €751
- Depreciation +€204
up €204 (+8.1%), from €2,521 to €2,725
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 | €41,256 | €28,730 | -€12,526 | -30.4% |
| Fixed assets | 21/28 | €24,729 | €22,004 | -€2,725 | -11.0% |
| Intangible fixed assets | 21 | €13,500 | €12,000 | -€1,500 | -11.1% |
| Tangible fixed assets | 22/27 | €11,229 | €10,004 | -€1,225 | -10.9% |
| Land and buildings | 22 | €11,229 | €10,004 | -€1,225 | -10.9% |
| Current assets | 29/58 | €16,527 | €6,726 | -€9,801 | -59.3% |
| Stocks and contracts in progress | 3 | €3,160 | €3,337 | +€177 | +5.6% |
| Stocks | 30/36 | €3,160 | €3,337 | +€177 | +5.6% |
| Amounts receivable within one year | 40/41 | €5,248 | €607 | -€4,641 | -88.4% |
| Other amounts receivable | 41 | €5,248 | €607 | -€4,641 | -88.4% |
| Cash at bank and in hand | 54/58 | €8,119 | €2,782 | -€5,337 | -65.7% |
| Total equity and liabilities | 10/49 | €41,256 | €28,730 | -€12,526 | -30.4% |
| Equity | 10/15 | -€52,073 | -€68,629 | -€16,556 | -31.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,073 | -€70,629 | -€16,556 | -30.6% |
| Amounts payable | 17/49 | €93,329 | €97,359 | +€4,030 | +4.3% |
| Amounts payable within one year | 42/48 | €93,329 | €97,359 | +€4,030 | +4.3% |
| Trade debts | 44 | €434 | €2,000 | +€1,566 | +360.5% |
| Suppliers | 440/4 | €434 | - | -€434 | |
| Bills of exchange payable | 441 | - | €2,000 | +€2,000 | |
| Taxes, remuneration and social security | 45 | - | €416 | +€416 | |
| Taxes | 450/3 | - | €416 | +€416 | |
| Other amounts payable | 47/48 | €92,894 | €94,942 | +€2,048 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,521 | €2,725 | +€204 | +8.1% |
| Other operating charges | 640/8 | €3,240 | €5,200 | +€1,960 | +60.5% |
| Gross operating margin | 9900 | -€19,308 | -€7,880 | +€11,429 | +59.2% |
| Operating profit (loss) | 9901 | -€25,069 | -€15,805 | +€9,264 | +37.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,009 | €751 | -€258 | -25.5% |
| Recurring financial charges | 65 | €1,009 | €751 | -€258 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | -€26,078 | -€16,556 | +€9,522 | +36.5% |
| Profit (loss) for the period | 9904 | -€26,078 | -€16,556 | +€9,522 | +36.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,078 | -€16,556 | +€9,522 | +36.5% |
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 3 October 2026 via checked.be.