DS REAL ESTATES: 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 REAL ESTATES
Largest movements
- Tangible fixed assets +€37,219
up €37,219 (+4.6%), from €805,142 to €842,361
- Cash -€34,402
down €34,402 (-98.3%), from €34,985 to €583
mainly Investment in fixed assets (net) (-€70,026) and Net result for the year (-€33,072)
- Receivables within one year +€22,840
up €22,840 (+15.9%), from €143,839 to €166,679
- Debts after one year +€48,686
up €48,686 (+5.5%), from €889,057 to €937,743
- Profit (loss) carried forward -€33,072
down €33,072 (-41.5%), from -€79,742 to -€112,814
- Other debts +€10,342
up €10,342 (+29.5%), from €35,000 to €45,342
- Gross operating margin +€14,614
up €14,614 (+53.4%), from €27,364 to €41,978
- Depreciation +€12,886
up €12,886 (+64.7%), from €19,921 to €32,807
- Financial charges +€8,704
up €8,704 (+31.3%), from €27,806 to €36,510
- Other operating charges -€3,677
down €3,677 (-38.8%), from €9,473 to €5,796
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €986,081 | €1,010,241 | +€24,160 | +2.5% |
| Fixed assets | 21/28 | €805,142 | €842,361 | +€37,219 | +4.6% |
| Tangible fixed assets | 22/27 | €805,142 | €842,361 | +€37,219 | +4.6% |
| Land and buildings | 22 | €805,142 | €842,361 | +€37,219 | +4.6% |
| Current assets | 29/58 | €180,939 | €167,880 | -€13,059 | -7.2% |
| Amounts receivable within one year | 40/41 | €143,839 | €166,679 | +€22,840 | +15.9% |
| Other amounts receivable | 41 | €143,839 | €166,679 | +€22,840 | +15.9% |
| Cash at bank and in hand | 54/58 | €34,985 | €583 | -€34,402 | -98.3% |
| Deferred charges and accrued income | 490/1 | €2,115 | €618 | -€1,497 | -70.8% |
| Total equity and liabilities | 10/49 | €986,081 | €1,010,241 | +€24,160 | +2.5% |
| Equity | 10/15 | €20,258 | -€12,814 | -€33,072 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,742 | -€112,814 | -€33,072 | -41.5% |
| Amounts payable | 17/49 | €965,823 | €1,023,055 | +€57,232 | +5.9% |
| Amounts payable after more than one year | 17 | €889,057 | €937,743 | +€48,686 | +5.5% |
| Financial debts | 170/4 | €889,057 | €937,743 | +€48,686 | +5.5% |
| Amounts payable within one year | 42/48 | €76,766 | €85,312 | +€8,546 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €33,649 | €39,970 | +€6,321 | +18.8% |
| Trade debts | 44 | €8,117 | - | -€8,117 | |
| Suppliers | 440/4 | €8,117 | - | -€8,117 | |
| Other amounts payable | 47/48 | €35,000 | €45,342 | +€10,342 | +29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,921 | €32,807 | +€12,886 | +64.7% |
| Other operating charges | 640/8 | €9,473 | €5,796 | -€3,677 | -38.8% |
| Gross operating margin | 9900 | €27,364 | €41,978 | +€14,614 | +53.4% |
| Operating profit (loss) | 9901 | -€2,030 | €3,375 | +€5,405 | |
| Financial income | 75/76B | €124 | €63 | -€61 | -49.2% |
| Recurring financial income | 75 | €124 | €63 | -€61 | -49.2% |
| Financial charges | 65/66B | €27,806 | €36,510 | +€8,704 | +31.3% |
| Recurring financial charges | 65 | €27,806 | €36,510 | +€8,704 | +31.3% |
| Profit (loss) for the period before taxes | 9903 | -€29,712 | -€33,072 | -€3,360 | -11.3% |
| Profit (loss) for the period | 9904 | -€29,712 | -€33,072 | -€3,360 | -11.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,712 | -€33,072 | -€3,360 | -11.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.