DSDAVID: 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.
DSDAVID
Largest movements
- Cash -€51,579
down €51,579 (-50.0%), from €103,129 to €51,549
mainly Receivables within one year (-€31,435) and Investment in fixed assets (net) (-€19,650)
- Receivables within one year +€31,435
up €31,435 (+43.5%), from €72,277 to €103,712
of which Other amounts receivable: +€31,903
- Tangible fixed assets -€19,076
down €19,076 (-25.7%), from €74,251 to €55,175
of which Land and buildings: -€11,873
- Financial fixed assets +€17,453
up €17,453 (+39.4%), from €44,285 to €61,738
- Deferred charges and accrued income +€3,590
new in 2025: €3,590
- Tax, wage and social debts -€18,303
down €18,303 (-39.5%), from €46,384 to €28,081
of which Taxes: -€13,464
- Trade debts -€7,417
down €7,417 (-24.7%), from €30,035 to €22,617
- Short-term financial debts +€4,407
new in 2025: €4,407
- Profit (loss) carried forward +€4,236
new in 2025: €4,236
- Debts after one year -€3,483
down €3,483 (-74.8%), from €4,655 to €1,172
- Staff costs +€16,606
up €16,606 (+34.3%), from €48,472 to €65,079
- Other operating charges +€8,536
up €8,536 (+547.0%), from €1,560 to €10,096
- Taxes -€6,045
down €6,045 (-69.4%), from €8,710 to €2,665
- Gross operating margin +€5,840
up €5,840 (+5.4%), from €107,725 to €113,565
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 | €297,527 | €278,588 | -€18,939 | -6.4% |
| Fixed assets | 21/28 | €118,536 | €116,913 | -€1,623 | -1.4% |
| Tangible fixed assets | 22/27 | €74,251 | €55,175 | -€19,076 | -25.7% |
| Land and buildings | 22 | €48,935 | €37,063 | -€11,873 | -24.3% |
| Plant, machinery and equipment | 23 | €11,821 | €7,879 | -€3,942 | -33.3% |
| Furniture and vehicles | 24 | €13,495 | €10,233 | -€3,262 | -24.2% |
| Financial fixed assets | 28 | €44,285 | €61,738 | +€17,453 | +39.4% |
| Current assets | 29/58 | €178,992 | €161,675 | -€17,317 | -9.7% |
| Stocks and contracts in progress | 3 | €3,587 | €2,824 | -€763 | -21.3% |
| Stocks | 30/36 | €3,587 | €2,824 | -€763 | -21.3% |
| Amounts receivable within one year | 40/41 | €72,277 | €103,712 | +€31,435 | +43.5% |
| Trade receivables | 40 | €6,359 | €5,891 | -€468 | -7.4% |
| Other amounts receivable | 41 | €65,918 | €97,821 | +€31,903 | +48.4% |
| Cash at bank and in hand | 54/58 | €103,129 | €51,549 | -€51,579 | -50.0% |
| Deferred charges and accrued income | 490/1 | - | €3,590 | +€3,590 | |
| Total equity and liabilities | 10/49 | €297,527 | €278,588 | -€18,939 | -6.4% |
| Equity | 10/15 | €169,316 | €173,552 | +€4,236 | +2.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €149,316 | €149,316 | = | 0.0% |
| Distributable reserves | 133 | €149,316 | €149,316 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €4,236 | +€4,236 | |
| Amounts payable | 17/49 | €128,211 | €105,036 | -€23,175 | -18.1% |
| Amounts payable after more than one year | 17 | €4,655 | €1,172 | -€3,483 | -74.8% |
| Financial debts | 170/4 | €4,655 | €1,172 | -€3,483 | -74.8% |
| Amounts payable within one year | 42/48 | €123,556 | €103,864 | -€19,692 | -15.9% |
| Current portion of amounts payable after more than one year | 42 | €4,491 | €3,483 | -€1,008 | -22.4% |
| Financial debts | 43 | - | €4,407 | +€4,407 | |
| Credit institutions | 430/8 | - | €4,407 | +€4,407 | |
| Trade debts | 44 | €30,035 | €22,617 | -€7,417 | -24.7% |
| Suppliers | 440/4 | €30,035 | €22,617 | -€7,417 | -24.7% |
| Taxes, remuneration and social security | 45 | €46,384 | €28,081 | -€18,303 | -39.5% |
| Taxes | 450/3 | €35,331 | €21,867 | -€13,464 | -38.1% |
| Remuneration and social security | 454/9 | €11,053 | €6,214 | -€4,839 | -43.8% |
| Other amounts payable | 47/48 | €42,647 | €45,276 | +€2,629 | +6.2% |
| Remuneration, social security and pensions | 62 | €48,472 | €65,079 | +€16,606 | +34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,297 | €21,273 | -€1,025 | -4.6% |
| Other operating charges | 640/8 | €1,560 | €10,096 | +€8,536 | +547.0% |
| Gross operating margin | 9900 | €107,725 | €113,565 | +€5,840 | +5.4% |
| Operating profit (loss) | 9901 | €35,395 | €17,118 | -€18,277 | -51.6% |
| Financial income | 75/76B | €402 | €384 | -€18 | -4.5% |
| Recurring financial income | 75 | €402 | €384 | -€18 | -4.5% |
| Financial charges | 65/66B | €11,291 | €10,601 | -€690 | -6.1% |
| Recurring financial charges | 65 | €11,291 | €10,601 | -€690 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €24,506 | €6,901 | -€17,605 | -71.8% |
| Income taxes | 67/77 | €8,710 | €2,665 | -€6,045 | -69.4% |
| Profit (loss) for the period | 9904 | €15,797 | €4,236 | -€11,560 | -73.2% |
| Profit (loss) for the period to be appropriated | 9905 | €15,797 | €4,236 | -€11,560 | -73.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.