DSLM: 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.
DSLM
Largest movements
- Tangible fixed assets -€183,812
down €183,812 (-18.1%), from €1.0m to €830,361
of which Land and buildings: -€155,949
- Cash -€11,474
down €11,474 (-32.6%), from €35,221 to €23,747
mainly Current portion of long-term debt (-€246,847) and Debts after one year (-€24,533)
- Current portion of long-term debt -€246,847
down €246,847 (-91.0%), from €271,380 to €24,533
- Reserves +€69,358
up €69,358 (+14.4%), from €480,465 to €549,822
of which Distributable reserves: +€69,358
- Debts after one year -€24,533
down €24,533 (-50.0%), from €49,066 to €24,532
- Financial charges -€12,069
down €12,069 (-48.3%), from €24,972 to €12,904
- Gross operating margin +€5,206
up €5,206 (+1.5%), from €338,890 to €344,096
- Taxes +€3,943
up €3,943 (+20.6%), from €19,176 to €23,119
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 | €1,117,971 | €923,701 | -€194,269 | -17.4% |
| Fixed assets | 21/28 | €1,014,173 | €830,361 | -€183,812 | -18.1% |
| Tangible fixed assets | 22/27 | €1,014,173 | €830,361 | -€183,812 | -18.1% |
| Land and buildings | 22 | €930,388 | €774,440 | -€155,949 | -16.8% |
| Plant, machinery and equipment | 23 | €83,785 | €55,922 | -€27,863 | -33.3% |
| Current assets | 29/58 | €103,798 | €93,340 | -€10,458 | -10.1% |
| Amounts receivable within one year | 40/41 | €68,577 | €69,594 | +€1,016 | +1.5% |
| Trade receivables | 40 | €59,753 | €60,770 | +€1,016 | +1.7% |
| Other amounts receivable | 41 | €8,824 | €8,824 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €35,221 | €23,747 | -€11,474 | -32.6% |
| Total equity and liabilities | 10/49 | €1,117,971 | €923,701 | -€194,269 | -17.4% |
| Equity | 10/15 | €780,465 | €849,822 | +€69,358 | +8.9% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €480,465 | €549,822 | +€69,358 | +14.4% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €450,465 | €519,822 | +€69,358 | +15.4% |
| Amounts payable | 17/49 | €337,506 | €73,879 | -€263,627 | -78.1% |
| Amounts payable after more than one year | 17 | €49,066 | €24,532 | -€24,533 | -50.0% |
| Financial debts | 170/4 | €49,066 | €24,532 | -€24,533 | -50.0% |
| Amounts payable within one year | 42/48 | €288,440 | €49,347 | -€239,093 | -82.9% |
| Current portion of amounts payable after more than one year | 42 | €271,380 | €24,533 | -€246,847 | -91.0% |
| Trade debts | 44 | €145 | €4,894 | +€4,749 | +3,271% |
| Suppliers | 440/4 | €145 | €4,894 | +€4,749 | +3,271% |
| Taxes, remuneration and social security | 45 | €16,915 | €19,919 | +€3,004 | +17.8% |
| Taxes | 450/3 | €16,915 | €19,919 | +€3,004 | +17.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183,812 | €183,812 | = | 0.0% |
| Other operating charges | 640/8 | €53,404 | €54,916 | +€1,512 | +2.8% |
| Gross operating margin | 9900 | €338,890 | €344,096 | +€5,206 | +1.5% |
| Operating profit (loss) | 9901 | €101,674 | €105,368 | +€3,694 | +3.6% |
| Financial income | 75/76B | €3 | €13 | +€9 | +288% |
| Recurring financial income | 75 | €3 | €13 | +€9 | +288% |
| Financial charges | 65/66B | €24,972 | €12,904 | -€12,069 | -48.3% |
| Recurring financial charges | 65 | €24,972 | €12,904 | -€12,069 | -48.3% |
| Profit (loss) for the period before taxes | 9903 | €76,705 | €92,477 | +€15,772 | +20.6% |
| Income taxes | 67/77 | €19,176 | €23,119 | +€3,943 | +20.6% |
| Profit (loss) for the period | 9904 | €57,529 | €69,358 | +€11,829 | +20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €57,529 | €69,358 | +€11,829 | +20.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.