DS MANAGEMENT: 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 MANAGEMENT
Largest movements
- Tangible fixed assets -€13,582
down €13,582 (-10.2%), from €132,873 to €119,292
of which Land and buildings: -€16,018
- Receivables within one year +€4,741
up €4,741 (+1055.3%), from €449 to €5,190
- Reserves -€21,999
down €21,999 (-83.0%), from €26,499 to €4,500
of which Distributable reserves: -€21,999
- Other debts +€16,131
up €16,131 (+27.7%), from €58,314 to €74,445
- Trade debts -€4,254
down €4,254 (-98.1%), from €4,338 to €84
- Tax, wage and social debts +€1,696
up €1,696 (+163.7%), from €1,036 to €2,732
- Gross operating margin +€12,139
up €12,139 (+62.8%), from -€19,338 to -€7,199
- Depreciation -€622
down €622 (-2.5%), from €24,445 to €23,823
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 | €135,188 | €126,761 | -€8,427 | -6.2% |
| Fixed assets | 21/28 | €132,883 | €119,302 | -€13,582 | -10.2% |
| Tangible fixed assets | 22/27 | €132,873 | €119,292 | -€13,582 | -10.2% |
| Land and buildings | 22 | €93,967 | €77,950 | -€16,018 | -17.0% |
| Furniture and vehicles | 24 | €38,906 | €41,342 | +€2,436 | +6.3% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €2,304 | €7,459 | +€5,155 | +223.7% |
| Amounts receivable within one year | 40/41 | €449 | €5,190 | +€4,741 | +1055.3% |
| Other amounts receivable | 41 | €449 | €5,190 | +€4,741 | +1055.3% |
| Cash at bank and in hand | 54/58 | €1,855 | €2,269 | +€414 | +22.3% |
| Total equity and liabilities | 10/49 | €135,188 | €126,761 | -€8,427 | -6.2% |
| Equity | 10/15 | €71,499 | €49,500 | -€21,999 | -30.8% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €26,499 | €4,500 | -€21,999 | -83.0% |
| Non-distributable reserves | 130/1 | €4,500 | €4,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,500 | €4,500 | = | 0.0% |
| Distributable reserves | 133 | €21,999 | - | -€21,999 | |
| Amounts payable | 17/49 | €63,689 | €77,261 | +€13,572 | +21.3% |
| Amounts payable within one year | 42/48 | €63,689 | €77,261 | +€13,572 | +21.3% |
| Trade debts | 44 | €4,338 | €84 | -€4,254 | -98.1% |
| Suppliers | 440/4 | €4,338 | €84 | -€4,254 | -98.1% |
| Taxes, remuneration and social security | 45 | €1,036 | €2,732 | +€1,696 | +163.7% |
| Taxes | 450/3 | €1,036 | €2,732 | +€1,696 | +163.7% |
| Other amounts payable | 47/48 | €58,314 | €74,445 | +€16,131 | +27.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,445 | €23,823 | -€622 | -2.5% |
| Other operating charges | 640/8 | €1,994 | €1,900 | -€95 | -4.8% |
| Gross operating margin | 9900 | -€19,338 | -€7,199 | +€12,139 | +62.8% |
| Operating profit (loss) | 9901 | -€45,778 | -€32,922 | +€12,855 | +28.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €489 | €384 | -€105 | -21.6% |
| Recurring financial charges | 65 | €489 | €384 | -€105 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | -€46,267 | -€33,305 | +€12,962 | +28.0% |
| Income taxes | 67/77 | €269 | €221 | -€48 | -17.8% |
| Profit (loss) for the period | 9904 | -€46,535 | -€33,525 | +€13,010 | +28.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,535 | -€33,525 | +€13,010 | +28.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.