DS HOLDING: 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 HOLDING
Largest movements
- Tangible fixed assets -€393,645
down €393,645 (-49.9%), from €788,314 to €394,669
of which Land and buildings: -€391,844
- Cash +€262,165
up €262,165 (+4208.3%), from €6,230 to €268,395
mainly Investment in fixed assets (net) (+€385,244) and Net result for the year (+€112,991)
- Receivables within one year -€71,759
down €71,759 (-41.7%), from €172,208 to €100,449
of which Other amounts receivable: -€62,823
- Other debts -€248,913
down €248,913 (-98.7%), from €252,213 to €3,300
- Reserves +€112,991
up €112,991 (+42.3%), from €267,059 to €380,051
of which Distributable reserves: +€112,991
- Tax, wage and social debts -€39,264
down €39,264 (-97.3%), from €40,354 to €1,090
- Debts after one year -€31,189
down €31,189 (-8.3%), from €375,902 to €344,714
- Turnover -€98,626
down €98,626 (-65.8%), from €149,831 to €51,205
- Gross operating margin -€61,736
down €61,736 (-72.1%), from €85,673 to €23,937
- Purchases and services -€36,890
down €36,890 (-57.5%), from €64,157 to €27,268
- Depreciation -€21,286
down €21,286 (-65.5%), from €32,488 to €11,202
- Taxes -€19,105
down €19,105, from €17,749 to -€1,356
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 | €1,019,552 | €813,512 | -€206,039 | -20.2% |
| Fixed assets | 21/28 | €841,114 | €444,669 | -€396,445 | -47.1% |
| Tangible fixed assets | 22/27 | €788,314 | €394,669 | -€393,645 | -49.9% |
| Land and buildings | 22 | €783,773 | €391,930 | -€391,844 | -50.0% |
| Plant, machinery and equipment | 23 | €4,541 | €2,740 | -€1,802 | -39.7% |
| Financial fixed assets | 28 | €52,800 | €50,000 | -€2,800 | -5.3% |
| Current assets | 29/58 | €178,438 | €368,843 | +€190,406 | +106.7% |
| Amounts receivable within one year | 40/41 | €172,208 | €100,449 | -€71,759 | -41.7% |
| Trade receivables | 40 | €68,457 | €59,521 | -€8,936 | -13.1% |
| Other amounts receivable | 41 | €103,751 | €40,928 | -€62,823 | -60.6% |
| Cash at bank and in hand | 54/58 | €6,230 | €268,395 | +€262,165 | +4208.3% |
| Total equity and liabilities | 10/49 | €1,019,552 | €813,512 | -€206,039 | -20.2% |
| Equity | 10/15 | €317,059 | €430,051 | +€112,991 | +35.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Capital | 10 | €50,000 | €50,000 | = | 0.0% |
| Issued capital | 100 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €267,059 | €380,051 | +€112,991 | +42.3% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Legal reserve | 130 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €262,059 | €375,051 | +€112,991 | +43.1% |
| Amounts payable | 17/49 | €702,493 | €383,462 | -€319,031 | -45.4% |
| Amounts payable after more than one year | 17 | €375,902 | €344,714 | -€31,189 | -8.3% |
| Financial debts | 170/4 | €375,902 | €344,714 | -€31,189 | -8.3% |
| Amounts payable within one year | 42/48 | €326,167 | €38,748 | -€287,419 | -88.1% |
| Current portion of amounts payable after more than one year | 42 | €31,509 | €31,210 | -€300 | -1.0% |
| Trade debts | 44 | €2,091 | €3,149 | +€1,058 | +50.6% |
| Suppliers | 440/4 | €2,091 | €3,149 | +€1,058 | +50.6% |
| Taxes, remuneration and social security | 45 | €40,354 | €1,090 | -€39,264 | -97.3% |
| Taxes | 450/3 | €40,354 | €1,090 | -€39,264 | -97.3% |
| Other amounts payable | 47/48 | €252,213 | €3,300 | -€248,913 | -98.7% |
| Accrued charges and deferred income | 492/3 | €423 | - | -€423 | |
| Turnover | 70 | €149,831 | €51,205 | -€98,626 | -65.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €64,157 | €27,268 | -€36,890 | -57.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,488 | €11,202 | -€21,286 | -65.5% |
| Other operating charges | 640/8 | €1,901 | €3,389 | +€1,487 | +78.2% |
| Gross operating margin | 9900 | €85,673 | €23,937 | -€61,736 | -72.1% |
| Operating profit (loss) | 9901 | €51,284 | €9,347 | -€41,937 | -81.8% |
| Financial income | 75/76B | €120,000 | €113,810 | -€6,190 | -5.2% |
| Recurring financial income | 75 | €120,000 | €92 | -€119,908 | -99.9% |
| Non-recurring financial income | 76B | - | €113,719 | +€113,719 | |
| Financial charges | 65/66B | €11,045 | €11,522 | +€476 | +4.3% |
| Recurring financial charges | 65 | €11,045 | €7,725 | -€3,320 | -30.1% |
| Non-recurring financial charges | 66B | - | €3,796 | +€3,796 | |
| Profit (loss) for the period before taxes | 9903 | €160,238 | €111,635 | -€48,603 | -30.3% |
| Income taxes | 67/77 | €17,749 | -€1,356 | -€19,105 | |
| Profit (loss) for the period | 9904 | €142,490 | €112,991 | -€29,498 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €142,490 | €112,991 | -€29,498 | -20.7% |
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.