"DS' IMMO": 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' IMMO"
Largest movements
- Cash +€82,539
up €82,539 (+121.0%), from €68,223 to €150,762
mainly Net result for the year (+€74,987) and Tax, wage and social debts (+€22,894)
- Tangible fixed assets -€14,575
down €14,575 (-4.4%), from €329,387 to €314,812
of which Land and buildings: -€8,620
- Profit (loss) carried forward +€39,693
up €39,693 (+34.7%), from €114,479 to €154,172
- Tax, wage and social debts +€22,894
up €22,894 (+83.9%), from €27,279 to €50,173
of which Taxes: +€17,558
- Debts after one year -€12,402
down €12,402 (-5.9%), from €211,186 to €198,784
- Other debts +€10,369
up €10,369 (+46.3%), from €22,410 to €32,779
- Current portion of long-term debt +€4,980
up €4,980 (+26.8%), from €18,588 to €23,569
- Gross operating margin +€93,383
up €93,383 (+59.0%), from €158,336 to €251,719
- Staff costs +€55,204
up €55,204 (+81.7%), from €67,585 to €122,789
- Taxes +€7,543
up €7,543 (+49.0%), from €15,406 to €22,949
- Other operating charges -€7,098
down €7,098 (-40.1%), from €17,719 to €10,621
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 | €419,631 | €487,083 | +€67,452 | +16.1% |
| Fixed assets | 21/28 | €329,387 | €314,812 | -€14,575 | -4.4% |
| Tangible fixed assets | 22/27 | €329,387 | €314,812 | -€14,575 | -4.4% |
| Land and buildings | 22 | €284,287 | €275,666 | -€8,620 | -3.0% |
| Furniture and vehicles | 24 | €7,674 | €5,865 | -€1,809 | -23.6% |
| Other tangible fixed assets | 26 | €37,426 | €33,280 | -€4,146 | -11.1% |
| Current assets | 29/58 | €90,244 | €172,271 | +€82,027 | +90.9% |
| Amounts receivable within one year | 40/41 | €22,022 | €21,510 | -€512 | -2.3% |
| Trade receivables | 40 | €7,022 | €1,253 | -€5,769 | -82.2% |
| Other amounts receivable | 41 | €15,000 | €20,257 | +€5,257 | +35.0% |
| Cash at bank and in hand | 54/58 | €68,223 | €150,762 | +€82,539 | +121.0% |
| Total equity and liabilities | 10/49 | €419,631 | €487,083 | +€67,452 | +16.1% |
| Equity | 10/15 | €128,739 | €168,432 | +€39,693 | +30.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €114,479 | €154,172 | +€39,693 | +34.7% |
| Amounts payable | 17/49 | €290,892 | €318,651 | +€27,759 | +9.5% |
| Amounts payable after more than one year | 17 | €211,186 | €198,784 | -€12,402 | -5.9% |
| Financial debts | 170/4 | €211,186 | €198,784 | -€12,402 | -5.9% |
| Amounts payable within one year | 42/48 | €79,706 | €119,866 | +€40,161 | +50.4% |
| Current portion of amounts payable after more than one year | 42 | €18,588 | €23,569 | +€4,980 | +26.8% |
| Trade debts | 44 | €11,429 | €13,346 | +€1,917 | +16.8% |
| Suppliers | 440/4 | €11,429 | €13,346 | +€1,917 | +16.8% |
| Taxes, remuneration and social security | 45 | €27,279 | €50,173 | +€22,894 | +83.9% |
| Taxes | 450/3 | €19,875 | €37,433 | +€17,558 | +88.3% |
| Remuneration and social security | 454/9 | €7,404 | €12,740 | +€5,335 | +72.1% |
| Other amounts payable | 47/48 | €22,410 | €32,779 | +€10,369 | +46.3% |
| Non-recurring operating income | 76A | - | €4,797 | +€4,797 | |
| Remuneration, social security and pensions | 62 | €67,585 | €122,789 | +€55,204 | +81.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,835 | €16,955 | -€881 | -4.9% |
| Other operating charges | 640/8 | €17,719 | €10,621 | -€7,098 | -40.1% |
| Gross operating margin | 9900 | €158,336 | €251,719 | +€93,383 | +59.0% |
| Operating profit (loss) | 9901 | €55,197 | €101,354 | +€46,157 | +83.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,522 | €3,419 | -€1,103 | -24.4% |
| Recurring financial charges | 65 | €4,522 | €3,419 | -€1,103 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €50,675 | €97,936 | +€47,261 | +93.3% |
| Income taxes | 67/77 | €15,406 | €22,949 | +€7,543 | +49.0% |
| Profit (loss) for the period | 9904 | €35,270 | €74,987 | +€39,718 | +112.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,270 | €74,987 | +€39,718 | +112.6% |
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 29 September 2026 via checked.be.