DSMT²: 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.
DSMT²
Largest movements
- Receivables after one year +€200,000
new in 2025: €200,000
- Cash -€161,288
down €161,288 (-84.6%), from €190,614 to €29,326
mainly Contributions, distributions and other (-€472,000) and Receivables after one year (-€200,000)
- Receivables within one year -€124,742
down €124,742 (-53.1%), from €234,852 to €110,110
of which Other amounts receivable: -€124,742
- Reserves -€216,012
down €216,012 (-74.9%), from €288,219 to €72,208
- Other debts +€162,089
up €162,089 (+78.5%), from €206,449 to €368,538
- Debts after one year -€34,588
down €34,588 (-28.7%), from €120,482 to €85,894
- Gross operating margin -€176,762
down €176,762 (-53.9%), from €328,243 to €151,481
- Taxes -€44,115
down €44,115 (-53.0%), from €83,184 to €39,069
- Financial income -€27,729
down €27,729 (-15.8%), from €175,050 to €147,321
- Financial charges -€3,591
down €3,591 (-59.0%), from €6,089 to €2,498
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 | €666,435 | €580,130 | -€86,305 | -13.0% |
| Fixed assets | 21/28 | €240,347 | €240,030 | -€316 | -0.1% |
| Tangible fixed assets | 22/27 | €347 | €30 | -€316 | -91.3% |
| Furniture and vehicles | 24 | €347 | €30 | -€316 | -91.3% |
| Financial fixed assets | 28 | €240,000 | €240,000 | = | 0.0% |
| Current assets | 29/58 | €426,088 | €340,099 | -€85,989 | -20.2% |
| Amounts receivable after more than one year | 29 | - | €200,000 | +€200,000 | |
| Other amounts receivable | 291 | - | €200,000 | +€200,000 | |
| Amounts receivable within one year | 40/41 | €234,852 | €110,110 | -€124,742 | -53.1% |
| Trade receivables | 40 | €21,780 | €21,780 | = | 0.0% |
| Other amounts receivable | 41 | €213,072 | €88,330 | -€124,742 | -58.5% |
| Cash at bank and in hand | 54/58 | €190,614 | €29,326 | -€161,288 | -84.6% |
| Deferred charges and accrued income | 490/1 | €622 | €664 | +€41 | +6.6% |
| Total equity and liabilities | 10/49 | €666,435 | €580,130 | -€86,305 | -13.0% |
| Equity | 10/15 | €291,219 | €75,208 | -€216,012 | -74.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €288,219 | €72,208 | -€216,012 | -74.9% |
| Distributable reserves | 133 | €288,219 | €72,208 | -€216,012 | -74.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €375,215 | €504,922 | +€129,707 | +34.6% |
| Amounts payable after more than one year | 17 | €120,482 | €85,894 | -€34,588 | -28.7% |
| Financial debts | 170/4 | €120,482 | €85,894 | -€34,588 | -28.7% |
| Amounts payable within one year | 42/48 | €254,093 | €418,708 | +€164,615 | +64.8% |
| Current portion of amounts payable after more than one year | 42 | €34,042 | €34,588 | +€546 | +1.6% |
| Trade debts | 44 | €124 | €2,078 | +€1,954 | +1,577% |
| Suppliers | 440/4 | €124 | €2,078 | +€1,954 | +1,577% |
| Taxes, remuneration and social security | 45 | €13,479 | €13,504 | +€25 | +0.2% |
| Taxes | 450/3 | €11,123 | €11,054 | -€70 | -0.6% |
| Remuneration and social security | 454/9 | €2,356 | €2,450 | +€95 | +4.0% |
| Other amounts payable | 47/48 | €206,449 | €368,538 | +€162,089 | +78.5% |
| Accrued charges and deferred income | 492/3 | €640 | €320 | -€320 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €750 | €316 | -€434 | -57.8% |
| Other operating charges | 640/8 | €721 | €931 | +€210 | +29.1% |
| Gross operating margin | 9900 | €328,243 | €151,481 | -€176,762 | -53.9% |
| Operating profit (loss) | 9901 | €326,772 | €150,234 | -€176,538 | -54.0% |
| Financial income | 75/76B | €175,050 | €147,321 | -€27,729 | -15.8% |
| Recurring financial income | 75 | €175,050 | €147,321 | -€27,729 | -15.8% |
| Financial charges | 65/66B | €6,089 | €2,498 | -€3,591 | -59.0% |
| Recurring financial charges | 65 | €6,089 | €2,498 | -€3,591 | -59.0% |
| Profit (loss) for the period before taxes | 9903 | €495,733 | €295,057 | -€200,676 | -40.5% |
| Income taxes | 67/77 | €83,184 | €39,069 | -€44,115 | -53.0% |
| Profit (loss) for the period | 9904 | €412,549 | €255,988 | -€156,561 | -37.9% |
| Profit (loss) for the period to be appropriated | 9905 | €412,549 | €255,988 | -€156,561 | -37.9% |
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 25 October 2026 via checked.be.