DS Projects: 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 Projects
Largest movements
- Tangible fixed assets -€23,854
down €23,854 (-29.2%), from €81,616 to €57,762
of which Furniture and vehicles: -€22,538
- Deferred charges and accrued income -€11,225
down €11,225 (-99.0%), from €11,344 to €119
- Receivables within one year +€6,104
up €6,104 (+5742.1%), from €106 to €6,211
of which Other amounts receivable: +€6,104
- Cash +€1,603
up €1,603 (+47.0%), from €3,408 to €5,011
mainly Net result for the year (+€31,974) and Depreciation (+€23,854)
- Debts after one year -€20,978
down €20,978 (-41.6%), from €50,466 to €29,488
- Profit (loss) carried forward -€11,791
down €11,791 (-90.7%), from €13,000 to €1,209
- Tax, wage and social debts +€2,642
up €2,642 (+41.5%), from €6,373 to €9,015
- Trade debts +€1,832
up €1,832 (+315.5%), from €581 to €2,413
- Gross operating margin -€2,124
down €2,124 (-2.9%), from €72,552 to €70,428
- Staff costs -€1,266
down €1,266 (-100.0%), from €1,266 to €0
- Financial charges -€837
down €837 (-22.4%), from €3,731 to €2,895
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 | €96,474 | €69,103 | -€27,372 | -28.4% |
| Fixed assets | 21/28 | €81,616 | €57,762 | -€23,854 | -29.2% |
| Tangible fixed assets | 22/27 | €81,616 | €57,762 | -€23,854 | -29.2% |
| Land and buildings | 22 | €5,338 | €4,634 | -€704 | -13.2% |
| Plant, machinery and equipment | 23 | €2,844 | €2,232 | -€612 | -21.5% |
| Furniture and vehicles | 24 | €73,434 | €50,896 | -€22,538 | -30.7% |
| Current assets | 29/58 | €14,858 | €11,341 | -€3,518 | -23.7% |
| Amounts receivable within one year | 40/41 | €106 | €6,211 | +€6,104 | +5742.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €106 | €6,211 | +€6,104 | +5742.1% |
| Cash at bank and in hand | 54/58 | €3,408 | €5,011 | +€1,603 | +47.0% |
| Deferred charges and accrued income | 490/1 | €11,344 | €119 | -€11,225 | -99.0% |
| Total equity and liabilities | 10/49 | €96,474 | €69,103 | -€27,372 | -28.4% |
| Equity | 10/15 | €19,000 | €7,209 | -€11,791 | -62.1% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,000 | €1,209 | -€11,791 | -90.7% |
| Amounts payable | 17/49 | €77,475 | €61,894 | -€15,581 | -20.1% |
| Amounts payable after more than one year | 17 | €50,466 | €29,488 | -€20,978 | -41.6% |
| Financial debts | 170/4 | €50,466 | €29,488 | -€20,978 | -41.6% |
| Amounts payable within one year | 42/48 | €27,009 | €32,406 | +€5,397 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | €20,050 | €20,978 | +€928 | +4.6% |
| Trade debts | 44 | €581 | €2,413 | +€1,832 | +315.5% |
| Suppliers | 440/4 | €581 | €2,413 | +€1,832 | +315.5% |
| Taxes, remuneration and social security | 45 | €6,373 | €9,015 | +€2,642 | +41.5% |
| Taxes | 450/3 | €6,373 | €9,015 | +€2,642 | +41.5% |
| Other amounts payable | 47/48 | €5 | €0 | -€5 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,266 | €0 | -€1,266 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,459 | €23,854 | +€395 | +1.7% |
| Other operating charges | 640/8 | €1,678 | €1,160 | -€519 | -30.9% |
| Gross operating margin | 9900 | €72,552 | €70,428 | -€2,124 | -2.9% |
| Operating profit (loss) | 9901 | €46,149 | €45,414 | -€735 | -1.6% |
| Financial income | 75/76B | €0 | €10 | +€10 | |
| Recurring financial income | 75 | €0 | €10 | +€10 | |
| Financial charges | 65/66B | €3,731 | €2,895 | -€837 | -22.4% |
| Recurring financial charges | 65 | €3,731 | €2,895 | -€837 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €42,418 | €42,530 | +€111 | +0.3% |
| Income taxes | 67/77 | €10,211 | €10,556 | +€344 | +3.4% |
| Profit (loss) for the period | 9904 | €32,207 | €31,974 | -€233 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €32,207 | €31,974 | -€233 | -0.7% |
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 12 October 2026 via checked.be.