DSA INVEST: what changed
DSA INVEST
Largest movements
- Tangible fixed assets -€277,066
down €277,066 (-71.5%), from €387,492 to €110,427
of which Land and buildings: -€278,564
- Cash +€9,114
up €9,114 (+97.9%), from €9,308 to €18,422
mainly Investment in fixed assets (net) (+€271,241) and Net result for the year (+€59,666)
- Other debts -€319,837
down €319,837 (-90.2%), from €354,777 to €34,940
- Profit (loss) carried forward +€59,666
up €59,666, from -€43,360 to €16,306
- Debts after one year -€4,585
no longer reported in 2025 (was €4,585)
- Current portion of long-term debt -€4,435
no longer reported in 2025 (was €4,435)
- Gross operating margin +€113,696
up €113,696, from -€21,577 to €92,120
- Depreciation -€25,502
down €25,502 (-81.4%), from €31,326 to €5,825
- Other operating charges +€20,888
up €20,888 (+471%), from €4,432 to €25,320
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €409,118 | €140,099 | -€269,020 | -65.8% |
| Fixed assets | 21/28 | €398,742 | €121,677 | -€277,066 | -69.5% |
| Tangible fixed assets | 22/27 | €387,492 | €110,427 | -€277,066 | -71.5% |
| Land and buildings | 22 | €387,492 | €108,929 | -€278,564 | -71.9% |
| Furniture and vehicles | 24 | €0 | €1,498 | +€1,498 | |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €11,250 | €11,250 | = | 0.0% |
| Current assets | 29/58 | €10,376 | €18,422 | +€8,046 | +77.5% |
| Amounts receivable within one year | 40/41 | €493 | - | -€493 | |
| Other amounts receivable | 41 | €493 | - | -€493 | |
| Cash at bank and in hand | 54/58 | €9,308 | €18,422 | +€9,114 | +97.9% |
| Deferred charges and accrued income | 490/1 | €576 | - | -€576 | |
| Total equity and liabilities | 10/49 | €409,118 | €140,099 | -€269,020 | -65.8% |
| Equity | 10/15 | €45,300 | €104,966 | +€59,666 | +132% |
| Contributions | 10/11 | €80,600 | €80,600 | = | 0.0% |
| Reserves | 13 | €8,060 | €8,060 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,060 | €8,060 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,360 | €16,306 | +€59,666 | |
| Amounts payable | 17/49 | €363,818 | €35,133 | -€328,685 | -90.3% |
| Amounts payable after more than one year | 17 | €4,585 | - | -€4,585 | |
| Financial debts | 170/4 | €4,585 | - | -€4,585 | |
| Amounts payable within one year | 42/48 | €359,233 | €35,133 | -€324,100 | -90.2% |
| Current portion of amounts payable after more than one year | 42 | €4,435 | - | -€4,435 | |
| Trade debts | 44 | €21 | - | -€21 | |
| Suppliers | 440/4 | €21 | - | -€21 | |
| Taxes, remuneration and social security | 45 | - | €193 | +€193 | |
| Taxes | 450/3 | - | €193 | +€193 | |
| Other amounts payable | 47/48 | €354,777 | €34,940 | -€319,837 | -90.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,326 | €5,825 | -€25,502 | -81.4% |
| Other operating charges | 640/8 | €4,432 | €25,320 | +€20,888 | +471% |
| Gross operating margin | 9900 | -€21,577 | €92,120 | +€113,696 | |
| Operating profit (loss) | 9901 | -€57,335 | €60,975 | +€118,311 | |
| Financial charges | 65/66B | €626 | €903 | +€277 | +44.2% |
| Recurring financial charges | 65 | €626 | €903 | +€277 | +44.2% |
| Profit (loss) for the period before taxes | 9903 | -€57,962 | €60,072 | +€118,034 | |
| Income taxes | 67/77 | €225 | €406 | +€181 | +80.5% |
| Profit (loss) for the period | 9904 | -€58,187 | €59,666 | +€117,853 | |
| Profit (loss) for the period to be appropriated | 9905 | -€58,187 | €59,666 | +€117,853 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.