DS PROMOTIONS: 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 PROMOTIONS
Largest movements
- Tangible fixed assets +€577,221
up €577,221 (+127%), from €455,237 to €1.0m
of which Land and buildings: +€582,726
- Cash -€312,813
down €312,813 (-97.4%), from €321,214 to €8,400
mainly Investment in fixed assets (net) (-€716,719) and Net result for the year (-€329,803)
- Receivables within one year -€215,095
down €215,095 (-27.1%), from €794,405 to €579,310
of which Trade receivables: -€223,546
- Debts after one year +€518,439
up €518,439 (+167%), from €310,000 to €828,439
of which Financial debts: +€518,439
- Profit (loss) carried forward -€327,572
down €327,572, from €293,836 to -€33,736
- Trade debts -€176,817
down €176,817 (-73.0%), from €242,165 to €65,349
- Tax, wage and social debts +€29,307
up €29,307 (+34.9%), from €83,914 to €113,222
- Current portion of long-term debt +€23,480
new in 2025: €23,480
- Taxes +€139,700
up €139,700 (+1,076%), from €12,980 to €152,680
- Depreciation +€78,204
up €78,204 (+128%), from €61,294 to €139,498
- Gross operating margin -€73,904
down €73,904 (-58.0%), from €127,484 to €53,579
- Financial charges +€51,952
up €51,952 (+255%), from €20,358 to €72,310
- Other operating charges +€10,315
up €10,315 (+106%), from €9,708 to €20,023
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.
Derived cash bridge
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 | €1,639,010 | €1,703,373 | +€64,363 | +3.9% |
| Fixed assets | 21/28 | €523,263 | €1,100,484 | +€577,221 | +110% |
| Tangible fixed assets | 22/27 | €455,237 | €1,032,458 | +€577,221 | +127% |
| Land and buildings | 22 | €399,711 | €982,437 | +€582,726 | +146% |
| Plant, machinery and equipment | 23 | €55,526 | €31,895 | -€23,631 | -42.6% |
| Furniture and vehicles | 24 | - | €18,126 | +€18,126 | |
| Financial fixed assets | 28 | €68,026 | €68,026 | = | 0.0% |
| Current assets | 29/58 | €1,115,747 | €602,889 | -€512,858 | -46.0% |
| Amounts receivable within one year | 40/41 | €794,405 | €579,310 | -€215,095 | -27.1% |
| Trade receivables | 40 | €225,841 | €2,295 | -€223,546 | -99.0% |
| Other amounts receivable | 41 | €568,564 | €577,015 | +€8,452 | +1.5% |
| Cash at bank and in hand | 54/58 | €321,214 | €8,400 | -€312,813 | -97.4% |
| Deferred charges and accrued income | 490/1 | €129 | €15,179 | +€15,050 | +11,668% |
| Total equity and liabilities | 10/49 | €1,639,010 | €1,703,373 | +€64,363 | +3.9% |
| Equity | 10/15 | €891,990 | €562,187 | -€329,803 | -37.0% |
| Contributions | 10/11 | €138,850 | €138,850 | = | 0.0% |
| Capital | 10 | €138,850 | €138,850 | = | 0.0% |
| Issued capital | 100 | €138,850 | €138,850 | = | 0.0% |
| Reserves | 13 | €459,304 | €457,073 | -€2,231 | -0.5% |
| Non-distributable reserves | 130/1 | €22,975 | €22,975 | = | 0.0% |
| Legal reserve | 130 | €22,975 | €22,975 | = | 0.0% |
| Tax-exempt reserves | 132 | €345,679 | €343,448 | -€2,231 | -0.6% |
| Distributable reserves | 133 | €90,650 | €90,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | €293,836 | -€33,736 | -€327,572 | |
| Provisions and deferred taxes | 16 | €109,511 | €108,767 | -€744 | -0.7% |
| Deferred taxes | 168 | €109,511 | €108,767 | -€744 | -0.7% |
| Amounts payable | 17/49 | €637,509 | €1,032,419 | +€394,909 | +61.9% |
| Amounts payable after more than one year | 17 | €310,000 | €828,439 | +€518,439 | +167% |
| Financial debts | 170/4 | €260,000 | €778,439 | +€518,439 | +199% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €327,509 | €203,980 | -€123,529 | -37.7% |
| Current portion of amounts payable after more than one year | 42 | - | €23,480 | +€23,480 | |
| Trade debts | 44 | €242,165 | €65,349 | -€176,817 | -73.0% |
| Suppliers | 440/4 | €242,165 | €65,349 | -€176,817 | -73.0% |
| Taxes, remuneration and social security | 45 | €83,914 | €113,222 | +€29,307 | +34.9% |
| Taxes | 450/3 | €83,914 | €113,222 | +€29,307 | +34.9% |
| Other amounts payable | 47/48 | €1,430 | €1,930 | +€500 | +35.0% |
| Non-recurring operating income | 76A | €98,404 | - | -€98,404 | |
| Remuneration, social security and pensions | 62 | €3,672 | - | -€3,672 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,294 | €139,498 | +€78,204 | +128% |
| Other operating charges | 640/8 | €9,708 | €20,023 | +€10,315 | +106% |
| Gross operating margin | 9900 | €127,484 | €53,579 | -€73,904 | -58.0% |
| Operating profit (loss) | 9901 | €52,811 | -€105,941 | -€158,752 | |
| Financial income | 75/76B | €133 | €384 | +€251 | +188% |
| Recurring financial income | 75 | €133 | €384 | +€251 | +188% |
| Financial charges | 65/66B | €20,358 | €72,310 | +€51,952 | +255% |
| Recurring financial charges | 65 | €20,358 | €72,310 | +€51,952 | +255% |
| Profit (loss) for the period before taxes | 9903 | €32,586 | -€177,867 | -€210,453 | |
| Transfer from deferred taxes | 780 | - | €744 | +€744 | |
| Income taxes | 67/77 | €12,980 | €152,680 | +€139,700 | +1,076% |
| Profit (loss) for the period | 9904 | €19,606 | -€329,803 | -€349,409 | |
| Transfer from tax-exempt reserves | 789 | €11,385 | €2,231 | -€9,154 | -80.4% |
| Profit (loss) for the period to be appropriated | 9905 | €30,991 | -€327,572 | -€358,563 |
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 18 October 2026 via checked.be.