DSF CONSTRUCT: 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.
DSF CONSTRUCT
Largest movements
- Receivables within one year +€16,151
up €16,151 (+33.0%), from €48,967 to €65,118
of which Trade receivables: +€32,381
- Stocks and contracts +€4,938
up €4,938 (+25.0%), from €19,770 to €24,708
of which Contracts in progress: +€7,938
- Tangible fixed assets +€3,300
up €3,300 (+8.1%), from €40,588 to €43,889
of which Leasing and similar rights: +€9,364
- Profit (loss) carried forward +€33,604
up €33,604 (+56.8%), from -€59,202 to -€25,598
- Trade debts -€7,298
down €7,298 (-13.8%), from €52,800 to €45,502
- Tax, wage and social debts -€5,854
down €5,854 (-27.9%), from €20,970 to €15,116
of which Remuneration and social security: -€8,069
- Debts after one year +€5,278
up €5,278 (+14.1%), from €37,351 to €42,630
- Gross operating margin +€105,561
up €105,561, from -€31,297 to €74,265
- Staff costs +€6,126
up €6,126 (+82.3%), from €7,442 to €13,568
- Financial charges +€6,061
up €6,061 (+127.7%), from €4,745 to €10,805
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €114,541 | €139,844 | +€25,303 | +22.1% |
| Fixed assets | 21/28 | €45,588 | €49,737 | +€4,149 | +9.1% |
| Intangible fixed assets | 21 | - | €849 | +€849 | |
| Tangible fixed assets | 22/27 | €40,588 | €43,889 | +€3,300 | +8.1% |
| Plant, machinery and equipment | 23 | €9,718 | €7,318 | -€2,400 | -24.7% |
| Furniture and vehicles | 24 | €9,369 | €5,705 | -€3,664 | -39.1% |
| Leasing and similar rights | 25 | €21,502 | €30,866 | +€9,364 | +43.5% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €68,952 | €90,106 | +€21,154 | +30.7% |
| Stocks and contracts in progress | 3 | €19,770 | €24,708 | +€4,938 | +25.0% |
| Stocks | 30/36 | €15,000 | €12,000 | -€3,000 | -20.0% |
| Contracts in progress | 37 | €4,770 | €12,708 | +€7,938 | +166.4% |
| Amounts receivable within one year | 40/41 | €48,967 | €65,118 | +€16,151 | +33.0% |
| Trade receivables | 40 | €8,490 | €40,871 | +€32,381 | +381.4% |
| Other amounts receivable | 41 | €40,478 | €24,248 | -€16,230 | -40.1% |
| Deferred charges and accrued income | 490/1 | €215 | €280 | +€65 | +30.2% |
| Total equity and liabilities | 10/49 | €114,541 | €139,844 | +€25,303 | +22.1% |
| Equity | 10/15 | -€12,995 | €20,609 | +€33,604 | |
| Contributions | 10/11 | €3,050 | €3,050 | = | 0.0% |
| Reserves | 13 | €43,157 | €43,157 | = | 0.0% |
| Distributable reserves | 133 | €43,157 | €43,157 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,202 | -€25,598 | +€33,604 | +56.8% |
| Amounts payable | 17/49 | €127,536 | €119,235 | -€8,301 | -6.5% |
| Amounts payable after more than one year | 17 | €37,351 | €42,630 | +€5,278 | +14.1% |
| Financial debts | 170/4 | €37,351 | €42,630 | +€5,278 | +14.1% |
| Amounts payable within one year | 42/48 | €90,184 | €76,605 | -€13,579 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €12,995 | €13,178 | +€184 | +1.4% |
| Financial debts | 43 | €3,420 | €2,809 | -€611 | -17.9% |
| Credit institutions | 430/8 | €3,420 | €2,809 | -€611 | -17.9% |
| Trade debts | 44 | €52,800 | €45,502 | -€7,298 | -13.8% |
| Suppliers | 440/4 | €52,800 | €45,502 | -€7,298 | -13.8% |
| Taxes, remuneration and social security | 45 | €20,970 | €15,116 | -€5,854 | -27.9% |
| Taxes | 450/3 | €7,085 | €9,301 | +€2,216 | +31.3% |
| Remuneration and social security | 454/9 | €13,884 | €5,815 | -€8,069 | -58.1% |
| Non-recurring operating income | 76A | - | €2,600 | +€2,600 | |
| Remuneration, social security and pensions | 62 | €7,442 | €13,568 | +€6,126 | +82.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,079 | €11,668 | -€411 | -3.4% |
| Other operating charges | 640/8 | €3,475 | €3,148 | -€328 | -9.4% |
| Non-recurring operating charges | 66A | - | €1,213 | +€1,213 | |
| Gross operating margin | 9900 | -€31,297 | €74,265 | +€105,561 | |
| Operating profit (loss) | 9901 | -€54,293 | €44,668 | +€98,961 | |
| Financial income | 75/76B | €233 | €119 | -€115 | -49.1% |
| Recurring financial income | 75 | €233 | €119 | -€115 | -49.1% |
| Financial charges | 65/66B | €4,745 | €10,805 | +€6,061 | +127.7% |
| Recurring financial charges | 65 | €4,745 | €10,805 | +€6,061 | +127.7% |
| Profit (loss) for the period before taxes | 9903 | -€58,804 | €33,981 | +€92,786 | |
| Income taxes | 67/77 | €398 | €377 | -€21 | -5.2% |
| Profit (loss) for the period | 9904 | -€59,202 | €33,604 | +€92,807 | |
| Profit (loss) for the period to be appropriated | 9905 | -€59,202 | €33,604 | +€92,807 |
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.