DSO: 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.
DSO
Largest movements
- Cash +€72,605
up €72,605 (+8713.8%), from €833 to €73,439
mainly Contributions, distributions and other (+€86,408) and Net result for the year (+€7,490)
- Receivables within one year +€5,874
up €5,874 (+4451.7%), from €132 to €6,006
of which Trade receivables: +€5,670
- Tangible fixed assets +€2,000
new in 2025: €2,000
- Deferred charges and accrued income +€1,538
new in 2025: €1,538
- Contributions +€86,408
up €86,408 (+464.8%), from €18,592 to €105,000
- Other debts -€17,958
down €17,958 (-96.3%), from €18,644 to €686
- Profit (loss) carried forward +€7,490
up €7,490 (+20.6%), from -€36,271 to -€28,781
- Trade debts +€5,957
new in 2025: €5,957
- Gross operating margin +€8,349
up €8,349, from -€271 to €8,077
- Other operating charges +€140
up €140 (+36.2%), from €387 to €528
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 | €965 | €82,982 | +€82,017 | +8497.7% |
| Fixed assets | 21/28 | - | €2,000 | +€2,000 | |
| Tangible fixed assets | 22/27 | - | €2,000 | +€2,000 | |
| Plant, machinery and equipment | 23 | - | €2,000 | +€2,000 | |
| Current assets | 29/58 | €965 | €80,983 | +€80,018 | +8290.5% |
| Amounts receivable within one year | 40/41 | €132 | €6,006 | +€5,874 | +4451.7% |
| Trade receivables | 40 | - | €5,670 | +€5,670 | |
| Other amounts receivable | 41 | €132 | €336 | +€204 | +154.5% |
| Cash at bank and in hand | 54/58 | €833 | €73,439 | +€72,605 | +8713.8% |
| Deferred charges and accrued income | 490/1 | - | €1,538 | +€1,538 | |
| Total equity and liabilities | 10/49 | €965 | €82,982 | +€82,017 | +8497.7% |
| Equity | 10/15 | -€17,679 | €76,219 | +€93,898 | |
| Contributions | 10/11 | €18,592 | €105,000 | +€86,408 | +464.8% |
| Capital | 10 | €18,592 | €105,000 | +€86,408 | +464.8% |
| Issued capital | 100 | €18,592 | €105,000 | +€86,408 | +464.8% |
| Profit (loss) carried forward | 14 | -€36,271 | -€28,781 | +€7,490 | +20.6% |
| Amounts payable | 17/49 | €18,644 | €6,763 | -€11,881 | -63.7% |
| Amounts payable within one year | 42/48 | €18,644 | €6,644 | -€12,000 | -64.4% |
| Trade debts | 44 | - | €5,957 | +€5,957 | |
| Suppliers | 440/4 | - | €5,957 | +€5,957 | |
| Other amounts payable | 47/48 | €18,644 | €686 | -€17,958 | -96.3% |
| Accrued charges and deferred income | 492/3 | - | €120 | +€120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €0 | +€0 | |
| Other operating charges | 640/8 | €387 | €528 | +€140 | +36.2% |
| Gross operating margin | 9900 | -€271 | €8,077 | +€8,349 | |
| Operating profit (loss) | 9901 | -€659 | €7,549 | +€8,208 | |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €75 | €64 | -€11 | -14.5% |
| Recurring financial charges | 65 | €75 | €64 | -€11 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | -€734 | €7,492 | +€8,226 | |
| Income taxes | 67/77 | - | €2 | +€2 | |
| Profit (loss) for the period | 9904 | -€734 | €7,490 | +€8,224 | |
| Profit (loss) for the period to be appropriated | 9905 | -€734 | €7,490 | +€8,224 |
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 3 October 2026 via checked.be.