DSJ: 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.
DSJ
Largest movements
- Tangible fixed assets -€19,211
down €19,211 (-17.3%), from €111,245 to €92,034
- Receivables within one year +€7,120
up €7,120 (+15.1%), from €47,163 to €54,283
of which Trade receivables: +€7,235
- Cash -€3,536
down €3,536 (-46.0%), from €7,680 to €4,144
mainly Trade debts (-€14,451) and Receivables within one year (-€7,120)
- Trade debts -€14,451
down €14,451 (-43.3%), from €33,385 to €18,933
- Other debts +€8,026
up €8,026 (+30.1%), from €26,644 to €34,670
- Debts after one year -€4,861
no longer reported in 2025 (was €4,861)
- Tax, wage and social debts -€4,196
down €4,196 (-43.9%), from €9,561 to €5,365
of which Taxes: -€2,520
- Current portion of long-term debt -€3,359
down €3,359 (-40.9%), from €8,219 to €4,861
- Staff costs -€23,810
down €23,810 (-24.1%), from €98,823 to €75,013
- Gross operating margin -€21,406
down €21,406 (-17.6%), from €121,853 to €100,447
- Depreciation -€3,933
down €3,933 (-16.3%), from €24,167 to €20,234
- Taxes +€1,411
new in 2025: €1,411
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 | €198,588 | €181,461 | -€17,127 | -8.6% |
| Fixed assets | 21/28 | €111,245 | €92,034 | -€19,211 | -17.3% |
| Tangible fixed assets | 22/27 | €111,245 | €92,034 | -€19,211 | -17.3% |
| Land and buildings | 22 | €77,881 | €73,050 | -€4,831 | -6.2% |
| Plant, machinery and equipment | 23 | €7,110 | €3,828 | -€3,283 | -46.2% |
| Furniture and vehicles | 24 | €19,930 | €12,380 | -€7,550 | -37.9% |
| Other tangible fixed assets | 26 | €6,324 | €2,777 | -€3,547 | -56.1% |
| Current assets | 29/58 | €87,343 | €89,427 | +€2,084 | +2.4% |
| Stocks and contracts in progress | 3 | €32,500 | €31,000 | -€1,500 | -4.6% |
| Stocks | 30/36 | €7,750 | €7,000 | -€750 | -9.7% |
| Contracts in progress | 37 | €24,750 | €24,000 | -€750 | -3.0% |
| Amounts receivable within one year | 40/41 | €47,163 | €54,283 | +€7,120 | +15.1% |
| Trade receivables | 40 | €34,540 | €41,775 | +€7,235 | +20.9% |
| Other amounts receivable | 41 | €12,623 | €12,508 | -€115 | -0.9% |
| Cash at bank and in hand | 54/58 | €7,680 | €4,144 | -€3,536 | -46.0% |
| Total equity and liabilities | 10/49 | €198,588 | €181,461 | -€17,127 | -8.6% |
| Equity | 10/15 | €115,919 | €117,632 | +€1,713 | +1.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €97,319 | €99,032 | +€1,713 | +1.8% |
| Distributable reserves | 133 | €97,319 | €99,032 | +€1,713 | +1.8% |
| Amounts payable | 17/49 | €82,670 | €63,830 | -€18,840 | -22.8% |
| Amounts payable after more than one year | 17 | €4,861 | - | -€4,861 | |
| Financial debts | 170/4 | €4,861 | - | -€4,861 | |
| Amounts payable within one year | 42/48 | €77,809 | €63,830 | -€13,979 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €8,219 | €4,861 | -€3,359 | -40.9% |
| Trade debts | 44 | €33,385 | €18,933 | -€14,451 | -43.3% |
| Suppliers | 440/4 | €33,385 | €18,933 | -€14,451 | -43.3% |
| Taxes, remuneration and social security | 45 | €9,561 | €5,365 | -€4,196 | -43.9% |
| Taxes | 450/3 | €5,040 | €2,520 | -€2,520 | -50.0% |
| Remuneration and social security | 454/9 | €4,521 | €2,845 | -€1,676 | -37.1% |
| Other amounts payable | 47/48 | €26,644 | €34,670 | +€8,026 | +30.1% |
| Remuneration, social security and pensions | 62 | €98,823 | €75,013 | -€23,810 | -24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,167 | €20,234 | -€3,933 | -16.3% |
| Other operating charges | 640/8 | €1,420 | €728 | -€692 | -48.7% |
| Gross operating margin | 9900 | €121,853 | €100,447 | -€21,406 | -17.6% |
| Operating profit (loss) | 9901 | -€2,557 | €4,472 | +€7,030 | |
| Financial income | 75/76B | €198 | €449 | +€251 | +127% |
| Recurring financial income | 75 | €198 | €449 | +€251 | +127% |
| Financial charges | 65/66B | €1,581 | €1,797 | +€216 | +13.7% |
| Recurring financial charges | 65 | €1,581 | €1,797 | +€216 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,940 | €3,124 | +€7,064 | |
| Income taxes | 67/77 | - | €1,411 | +€1,411 | |
| Profit (loss) for the period | 9904 | -€3,940 | €1,713 | +€5,653 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,940 | €1,713 | +€5,653 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.