DSC: what changed
What changed
DSC
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€161,535
2024 · €151,459+€10,076
Equity
€650,011
2024 · €488,476+€161,535
Cash
€152,862
2024 · €121,947+€30,916
Balance sheet total
€2.9m
2024 · €2.8m+€15,885
Largest movements
Assets
- Cash +€30,916
up €30,916 (+25.4%), from €121,947 to €152,862
mainly Net result for the year (+€161,535) and Receivables within one year (+€15,031)
Equity and liabilities
- Reserves +€165,000
up €165,000 (+49.3%), from €335,000 to €500,000
- Debts after one year -€101,009
down €101,009 (-5.0%), from €2.0m to €1.9m
of which Financial debts: -€210,000
- Tax, wage and social debts -€31,630
down €31,630 (-31.6%), from €100,050 to €68,421
Income statement
- Gross operating margin +€10,289
up €10,289 (+4.1%), from €251,219 to €261,508
- Financial charges -€4,787
down €4,787 (-9.4%), from €50,682 to €45,894
- Taxes +€3,359
up €3,359 (+6.7%), from €50,486 to €53,845
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.
Result 2024
€151,459
Gross operating margin
+€10,289
Other operating charges
-€1,000
Financial income
-€640
Financial charges
+€4,787
Taxes
-€3,359
Result 2025
€161,535
raises the resultlowers the result
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.
From operations
+€142,362
Investment
€0
Financing
-€111,446
Cash 2024
€121,947
From operations (derived)
+€142,362
Net result for the year
+€161,535
Receivables within one year
+€15,031
Smaller working-capital items
+€18
Trade debts
-€2,593
Tax, wage and social debts
-€31,630
Financing
-€111,446
Debts after one year
-€101,009
Current portion of long-term debt
-€25,104
Short-term financial debts
+€14,667
Cash 2025
€152,862
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,837,191 | €2,853,076 | +€15,885 | +0.6% |
| Fixed assets | 21/28 | €2,700,000 | €2,700,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,700,000 | €2,700,000 | = | 0.0% |
| Current assets | 29/58 | €137,191 | €153,076 | +€15,885 | +11.6% |
| Amounts receivable within one year | 40/41 | €15,031 | €0 | -€15,031 | -100% |
| Trade receivables | 40 | €15,031 | €0 | -€15,031 | -100% |
| Cash at bank and in hand | 54/58 | €121,947 | €152,862 | +€30,916 | +25.4% |
| Deferred charges and accrued income | 490/1 | €214 | €214 | +€0 | 0.0% |
| Total equity and liabilities | 10/49 | €2,837,191 | €2,853,076 | +€15,885 | +0.6% |
| Equity | 10/15 | €488,476 | €650,011 | +€161,535 | +33.1% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €335,000 | €500,000 | +€165,000 | +49.3% |
| Distributable reserves | 133 | €335,000 | €500,000 | +€165,000 | +49.3% |
| Profit (loss) carried forward | 14 | €3,476 | €11 | -€3,465 | -99.7% |
| Amounts payable | 17/49 | €2,348,715 | €2,203,065 | -€145,651 | -6.2% |
| Amounts payable after more than one year | 17 | €2,008,988 | €1,907,979 | -€101,009 | -5.0% |
| Financial debts | 170/4 | €1,435,833 | €1,225,833 | -€210,000 | -14.6% |
| Other amounts payable | 178/9 | €573,155 | €682,145 | +€108,991 | +19.0% |
| Amounts payable within one year | 42/48 | €339,727 | €295,086 | -€44,641 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €235,104 | €210,000 | -€25,104 | -10.7% |
| Financial debts | 43 | - | €14,667 | +€14,667 | |
| Credit institutions | 430/8 | - | €14,667 | +€14,667 | |
| Trade debts | 44 | €2,721 | €128 | -€2,593 | -95.3% |
| Suppliers | 440/4 | €2,721 | €128 | -€2,593 | -95.3% |
| Taxes, remuneration and social security | 45 | €100,050 | €68,421 | -€31,630 | -31.6% |
| Taxes | 450/3 | €100,050 | €68,421 | -€31,630 | -31.6% |
| Other amounts payable | 47/48 | €1,852 | €1,870 | +€18 | +1.0% |
| Other operating charges | 640/8 | €126 | €1,126 | +€1,000 | +794% |
| Gross operating margin | 9900 | €251,219 | €261,508 | +€10,289 | +4.1% |
| Operating profit (loss) | 9901 | €251,093 | €260,381 | +€9,288 | +3.7% |
| Financial income | 75/76B | €1,534 | €894 | -€640 | -41.7% |
| Recurring financial income | 75 | €1,534 | €894 | -€640 | -41.7% |
| Financial charges | 65/66B | €50,682 | €45,894 | -€4,787 | -9.4% |
| Recurring financial charges | 65 | €50,682 | €45,894 | -€4,787 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €201,945 | €215,380 | +€13,435 | +6.7% |
| Income taxes | 67/77 | €50,486 | €53,845 | +€3,359 | +6.7% |
| Profit (loss) for the period | 9904 | €151,459 | €161,535 | +€10,076 | +6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €151,459 | €161,535 | +€10,076 | +6.7% |
Next steps
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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 8 November 2026 via checked.be.