DSN Project: 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.
DSN Project
Largest movements
- Tangible fixed assets -€17,044
down €17,044 (-7.0%), from €242,364 to €225,320
of which Land and buildings: -€10,173
- Other debts -€15,000
down €15,000 (-36.9%), from €40,614 to €25,614
- Debts after one year -€12,467
down €12,467 (-6.2%), from €202,103 to €189,636
- Profit (loss) carried forward +€9,971
up €9,971 (+82.7%), from -€12,057 to -€2,086
- Gross operating margin +€5,846
up €5,846 (+21.7%), from €26,885 to €32,731
- Depreciation +€611
up €611 (+3.7%), from €16,433 to €17,044
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 | €252,096 | €233,848 | -€18,247 | -7.2% |
| Fixed assets | 21/28 | €242,674 | €225,630 | -€17,044 | -7.0% |
| Tangible fixed assets | 22/27 | €242,364 | €225,320 | -€17,044 | -7.0% |
| Land and buildings | 22 | €223,799 | €213,627 | -€10,173 | -4.5% |
| Furniture and vehicles | 24 | €11,717 | €6,405 | -€5,313 | -45.3% |
| Other tangible fixed assets | 26 | €6,847 | €5,288 | -€1,559 | -22.8% |
| Financial fixed assets | 28 | €310 | €310 | = | 0.0% |
| Current assets | 29/58 | €9,422 | €8,219 | -€1,203 | -12.8% |
| Amounts receivable within one year | 40/41 | - | €968 | +€968 | |
| Trade receivables | 40 | - | €968 | +€968 | |
| Cash at bank and in hand | 54/58 | €9,422 | €7,251 | -€2,171 | -23.0% |
| Total equity and liabilities | 10/49 | €252,096 | €233,848 | -€18,247 | -7.2% |
| Equity | 10/15 | -€6,057 | €3,914 | +€9,971 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,057 | -€2,086 | +€9,971 | +82.7% |
| Amounts payable | 17/49 | €258,153 | €229,934 | -€28,219 | -10.9% |
| Amounts payable after more than one year | 17 | €202,103 | €189,636 | -€12,467 | -6.2% |
| Financial debts | 170/4 | €202,103 | €189,636 | -€12,467 | -6.2% |
| Amounts payable within one year | 42/48 | €55,170 | €39,418 | -€15,752 | -28.6% |
| Current portion of amounts payable after more than one year | 42 | €12,267 | €12,467 | +€200 | +1.6% |
| Trade debts | 44 | €2,289 | €1,337 | -€952 | -41.6% |
| Suppliers | 440/4 | €2,289 | €1,337 | -€952 | -41.6% |
| Other amounts payable | 47/48 | €40,614 | €25,614 | -€15,000 | -36.9% |
| Accrued charges and deferred income | 492/3 | €880 | €880 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,433 | €17,044 | +€611 | +3.7% |
| Other operating charges | 640/8 | €2,180 | €2,181 | +€1 | +0.1% |
| Gross operating margin | 9900 | €26,885 | €32,731 | +€5,846 | +21.7% |
| Operating profit (loss) | 9901 | €8,272 | €13,506 | +€5,233 | +63.3% |
| Financial charges | 65/66B | €3,731 | €3,534 | -€197 | -5.3% |
| Recurring financial charges | 65 | €3,731 | €3,534 | -€197 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €4,541 | €9,971 | +€5,430 | +119.6% |
| Profit (loss) for the period | 9904 | €4,541 | €9,971 | +€5,430 | +119.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,541 | €9,971 | +€5,430 | +119.6% |
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 8 October 2026 via checked.be.