DS GROUP: 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 GROUP
Largest movements
- Tangible fixed assets -€19,293
down €19,293 (-5.9%), from €329,500 to €310,207
of which Land and buildings: -€11,409
- Receivables within one year -€18,857
down €18,857 (-10.0%), from €187,912 to €169,055
of which Trade receivables: -€22,410
- Cash -€13,200
down €13,200 (-47.5%), from €27,767 to €14,568
mainly Tax, wage and social debts (-€40,897) and Debts after one year (-€28,389)
- Tax, wage and social debts -€40,897
down €40,897 (-68.7%), from €59,538 to €18,641
- Reserves +€34,489
up €34,489 (+12.3%), from €279,393 to €313,882
- Debts after one year -€28,389
down €28,389 (-15.5%), from €183,036 to €154,647
- Trade debts -€25,262
down €25,262 (-38.5%), from €65,692 to €40,430
- Financial charges +€4,277
up €4,277 (+52.7%), from €8,123 to €12,400
- Gross operating margin +€3,818
up €3,818 (+4.1%), from €93,098 to €96,916
- Taxes -€2,395
down €2,395 (-23.8%), from €10,070 to €7,675
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €674,874 | €619,858 | -€55,015 | -8.2% |
| Fixed assets | 21/28 | €455,260 | €435,967 | -€19,293 | -4.2% |
| Tangible fixed assets | 22/27 | €329,500 | €310,207 | -€19,293 | -5.9% |
| Land and buildings | 22 | €261,210 | €249,800 | -€11,409 | -4.4% |
| Plant, machinery and equipment | 23 | €55,553 | €53,253 | -€2,300 | -4.1% |
| Furniture and vehicles | 24 | €12,737 | €7,154 | -€5,583 | -43.8% |
| Financial fixed assets | 28 | €125,760 | €125,760 | = | 0.0% |
| Current assets | 29/58 | €219,614 | €183,891 | -€35,723 | -16.3% |
| Amounts receivable within one year | 40/41 | €187,912 | €169,055 | -€18,857 | -10.0% |
| Trade receivables | 40 | €177,175 | €154,765 | -€22,410 | -12.6% |
| Other amounts receivable | 41 | €10,736 | €14,289 | +€3,553 | +33.1% |
| Cash at bank and in hand | 54/58 | €27,767 | €14,568 | -€13,200 | -47.5% |
| Deferred charges and accrued income | 490/1 | €3,935 | €269 | -€3,666 | -93.2% |
| Total equity and liabilities | 10/49 | €674,874 | €619,858 | -€55,015 | -8.2% |
| Equity | 10/15 | €297,943 | €332,432 | +€34,489 | +11.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €279,393 | €313,882 | +€34,489 | +12.3% |
| Distributable reserves | 133 | €279,393 | €313,882 | +€34,489 | +12.3% |
| Amounts payable | 17/49 | €376,931 | €287,427 | -€89,504 | -23.7% |
| Amounts payable after more than one year | 17 | €183,036 | €154,647 | -€28,389 | -15.5% |
| Financial debts | 170/4 | €183,036 | €154,647 | -€28,389 | -15.5% |
| Amounts payable within one year | 42/48 | €193,895 | €132,780 | -€61,115 | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €48,136 | €50,165 | +€2,029 | +4.2% |
| Trade debts | 44 | €65,692 | €40,430 | -€25,262 | -38.5% |
| Suppliers | 440/4 | €65,692 | €40,430 | -€25,262 | -38.5% |
| Taxes, remuneration and social security | 45 | €59,538 | €18,641 | -€40,897 | -68.7% |
| Taxes | 450/3 | €59,538 | €18,641 | -€40,897 | -68.7% |
| Other amounts payable | 47/48 | €20,528 | €23,543 | +€3,015 | +14.7% |
| Non-recurring operating income | 76A | - | €17,842 | +€17,842 | |
| Remuneration, social security and pensions | 62 | €417 | - | -€417 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,008 | €36,404 | -€604 | -1.6% |
| Other operating charges | 640/8 | €6,900 | €6,311 | -€588 | -8.5% |
| Gross operating margin | 9900 | €93,098 | €96,916 | +€3,818 | +4.1% |
| Operating profit (loss) | 9901 | €48,773 | €54,201 | +€5,428 | +11.1% |
| Financial income | 75/76B | €47 | €363 | +€316 | +673.4% |
| Recurring financial income | 75 | €47 | €363 | +€316 | +673.4% |
| Financial charges | 65/66B | €8,123 | €12,400 | +€4,277 | +52.7% |
| Recurring financial charges | 65 | €8,123 | €12,400 | +€4,277 | +52.7% |
| Profit (loss) for the period before taxes | 9903 | €40,697 | €42,164 | +€1,467 | +3.6% |
| Income taxes | 67/77 | €10,070 | €7,675 | -€2,395 | -23.8% |
| Profit (loss) for the period | 9904 | €30,628 | €34,489 | +€3,861 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €30,628 | €34,489 | +€3,861 | +12.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.