DSE: 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.
DSE
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Tangible fixed assets -€26,207
down €26,207 (-32.8%), from €79,836 to €53,630
of which Furniture and vehicles: -€25,456
- Receivables within one year +€8,772
new in 2025: €8,772
- Cash +€6,366
up €6,366 (+339%), from €1,878 to €8,244
mainly Contributions, distributions and other (+€67,429) and Depreciation (+€26,207)
- Contributions +€43,400
up €43,400 (+43.4%), from €100,000 to €143,400
- Profit (loss) carried forward -€29,803
down €29,803 (-32.5%), from -€91,609 to -€121,412
- Reserves +€28,646
up €28,646 (+214%), from €13,381 to €42,027
- Other debts -€2,404
down €2,404 (-5.3%), from €45,591 to €43,187
- Tax, wage and social debts -€2,124
down €2,124 (-15.6%), from €13,574 to €11,450
of which Taxes: -€2,820
- Gross operating margin -€38,154
down €38,154 (-66.1%), from €57,703 to €19,550
- Staff costs -€12,662
down €12,662 (-42.2%), from €30,028 to €17,365
- Depreciation +€1,073
up €1,073 (+4.3%), from €25,134 to €26,207
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 | €81,714 | €120,645 | +€38,931 | +47.6% |
| Fixed assets | 21/28 | €79,836 | €53,630 | -€26,207 | -32.8% |
| Tangible fixed assets | 22/27 | €79,836 | €53,630 | -€26,207 | -32.8% |
| Plant, machinery and equipment | 23 | €1,884 | €1,133 | -€751 | -39.8% |
| Furniture and vehicles | 24 | €77,952 | €52,496 | -€25,456 | -32.7% |
| Current assets | 29/58 | €1,878 | €67,016 | +€65,138 | +3,468% |
| Amounts receivable within one year | 40/41 | - | €8,772 | +€8,772 | |
| Other amounts receivable | 41 | - | €8,772 | +€8,772 | |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €1,878 | €8,244 | +€6,366 | +339% |
| Total equity and liabilities | 10/49 | €81,714 | €120,645 | +€38,931 | +47.6% |
| Equity | 10/15 | €21,773 | €64,016 | +€42,243 | +194% |
| Contributions | 10/11 | €100,000 | €143,400 | +€43,400 | +43.4% |
| Reserves | 13 | €13,381 | €42,027 | +€28,646 | +214% |
| Non-distributable reserves | 130/1 | €1,881 | €8,788 | +€6,906 | +367% |
| Reserves not available under the articles | 1311 | €1,881 | €8,788 | +€6,906 | +367% |
| Tax-exempt reserves | 132 | - | €10,207 | +€10,207 | |
| Distributable reserves | 133 | €11,500 | €23,033 | +€11,533 | +100% |
| Profit (loss) carried forward | 14 | -€91,609 | -€121,412 | -€29,803 | -32.5% |
| Amounts payable | 17/49 | €59,942 | €56,630 | -€3,312 | -5.5% |
| Amounts payable within one year | 42/48 | €59,942 | €56,630 | -€3,312 | -5.5% |
| Trade debts | 44 | €777 | €1,993 | +€1,216 | +157% |
| Suppliers | 440/4 | €777 | €1,993 | +€1,216 | +157% |
| Taxes, remuneration and social security | 45 | €13,574 | €11,450 | -€2,124 | -15.6% |
| Taxes | 450/3 | €8,934 | €6,114 | -€2,820 | -31.6% |
| Remuneration and social security | 454/9 | €4,639 | €5,335 | +€696 | +15.0% |
| Other amounts payable | 47/48 | €45,591 | €43,187 | -€2,404 | -5.3% |
| Remuneration, social security and pensions | 62 | €30,028 | €17,365 | -€12,662 | -42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,134 | €26,207 | +€1,073 | +4.3% |
| Other operating charges | 640/8 | €1,195 | €1,064 | -€131 | -11.0% |
| Gross operating margin | 9900 | €57,703 | €19,550 | -€38,154 | -66.1% |
| Operating profit (loss) | 9901 | €1,347 | -€25,086 | -€26,433 | |
| Financial income | 75/76B | - | €105 | +€105 | |
| Recurring financial income | 75 | - | €105 | +€105 | |
| Financial charges | 65/66B | €203 | €205 | +€2 | +1.0% |
| Recurring financial charges | 65 | €203 | €205 | +€2 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €1,144 | -€25,186 | -€26,330 | |
| Profit (loss) for the period | 9904 | €1,144 | -€25,186 | -€26,330 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,144 | -€25,186 | -€26,330 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.