DSMA: 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.
DSMA
Largest movements
- Cash -€87,337
down €87,337 (-67.2%), from €129,926 to €42,590
mainly Other debts (-€64,986) and Contributions, distributions and other (-€57,937)
- Receivables within one year +€14,203
up €14,203 (+243.7%), from €5,828 to €20,031
of which Trade receivables: +€9,679
- Tangible fixed assets -€2,942
down €2,942 (-48.0%), from €6,127 to €3,185
of which Furniture and vehicles: -€2,084
- Other debts -€64,986
down €64,986 (-81.7%), from €79,536 to €14,550
- Debts after one year -€10,467
down €10,467 (-47.6%), from €21,969 to €11,502
- Tax, wage and social debts -€1,510
down €1,510 (-17.0%), from €8,898 to €7,387
- Gross operating margin -€25,332
down €25,332 (-24.4%), from €103,902 to €78,570
- Taxes -€5,278
down €5,278 (-24.4%), from €21,607 to €16,329
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 | €145,905 | €69,326 | -€76,579 | -52.5% |
| Fixed assets | 21/28 | €6,127 | €3,185 | -€2,942 | -48.0% |
| Tangible fixed assets | 22/27 | €6,127 | €3,185 | -€2,942 | -48.0% |
| Plant, machinery and equipment | 23 | €1,164 | €306 | -€858 | -73.7% |
| Furniture and vehicles | 24 | €4,963 | €2,879 | -€2,084 | -42.0% |
| Current assets | 29/58 | €139,778 | €66,141 | -€73,637 | -52.7% |
| Amounts receivable within one year | 40/41 | €5,828 | €20,031 | +€14,203 | +243.7% |
| Trade receivables | 40 | €5,828 | €15,507 | +€9,679 | +166.1% |
| Other amounts receivable | 41 | - | €4,524 | +€4,524 | |
| Cash at bank and in hand | 54/58 | €129,926 | €42,590 | -€87,337 | -67.2% |
| Deferred charges and accrued income | 490/1 | €4,024 | €3,521 | -€504 | -12.5% |
| Total equity and liabilities | 10/49 | €145,905 | €69,326 | -€76,579 | -52.5% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €127,305 | €50,726 | -€76,579 | -60.2% |
| Amounts payable after more than one year | 17 | €21,969 | €11,502 | -€10,467 | -47.6% |
| Financial debts | 170/4 | €21,969 | €11,502 | -€10,467 | -47.6% |
| Amounts payable within one year | 42/48 | €105,336 | €39,224 | -€66,112 | -62.8% |
| Current portion of amounts payable after more than one year | 42 | €10,183 | €10,467 | +€285 | +2.8% |
| Trade debts | 44 | €6,720 | €6,820 | +€100 | +1.5% |
| Suppliers | 440/4 | €6,720 | €6,820 | +€100 | +1.5% |
| Taxes, remuneration and social security | 45 | €8,898 | €7,387 | -€1,510 | -17.0% |
| Taxes | 450/3 | €8,898 | €7,387 | -€1,510 | -17.0% |
| Other amounts payable | 47/48 | €79,536 | €14,550 | -€64,986 | -81.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,262 | €2,942 | +€680 | +30.0% |
| Other operating charges | 640/8 | €673 | €1,117 | +€444 | +66.0% |
| Gross operating margin | 9900 | €103,902 | €78,570 | -€25,332 | -24.4% |
| Operating profit (loss) | 9901 | €100,967 | €74,511 | -€26,456 | -26.2% |
| Financial income | 75/76B | €1,118 | €945 | -€173 | -15.5% |
| Recurring financial income | 75 | €1,118 | €945 | -€173 | -15.5% |
| Financial charges | 65/66B | €1,845 | €1,190 | -€655 | -35.5% |
| Recurring financial charges | 65 | €1,845 | €1,190 | -€655 | -35.5% |
| Profit (loss) for the period before taxes | 9903 | €100,240 | €74,266 | -€25,974 | -25.9% |
| Income taxes | 67/77 | €21,607 | €16,329 | -€5,278 | -24.4% |
| Profit (loss) for the period | 9904 | €78,633 | €57,937 | -€20,696 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €78,633 | €57,937 | -€20,696 | -26.3% |
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 11 October 2026 via checked.be.