DSTM HOLDING: 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.
DSTM HOLDING
Largest movements
- Tangible fixed assets +€202,099
up €202,099 (+15.9%), from €1.3m to €1.5m
of which Assets under construction and advance payments: +€244,129
- Financial fixed assets +€157,594
up €157,594 (+40.5%), from €388,749 to €546,343
- Receivables within one year +€27,002
up €27,002 (+155%), from €17,373 to €44,375
of which Other amounts receivable: +€18,067
- Debts after one year +€221,982
up €221,982 (+16.8%), from €1.3m to €1.5m
- Reserves +€55,000
up €55,000 (+25.0%), from €220,150 to €275,150
- Other debts +€42,724
up €42,724 (+38.0%), from €112,371 to €155,094
- Current portion of long-term debt +€40,069
up €40,069 (+61.8%), from €64,871 to €104,940
- Gross operating margin +€65,804
up €65,804, from -€3,625 to €62,179
- Financial income -€10,000
down €10,000 (-9.1%), from €110,000 to €100,000
- Financial charges +€6,664
up €6,664 (+17.7%), from €37,739 to €44,403
- Depreciation +€3,596
up €3,596 (+7.3%), from €49,583 to €53,179
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 | €1,777,871 | €2,140,685 | +€362,814 | +20.4% |
| Fixed assets | 21/28 | €1,730,994 | €2,079,537 | +€348,543 | +20.1% |
| Intangible fixed assets | 21 | €74,798 | €63,648 | -€11,150 | -14.9% |
| Tangible fixed assets | 22/27 | €1,267,448 | €1,469,547 | +€202,099 | +15.9% |
| Land and buildings | 22 | €848,934 | €818,564 | -€30,370 | -3.6% |
| Plant, machinery and equipment | 23 | €90,183 | €78,524 | -€11,659 | -12.9% |
| Assets under construction and advance payments | 27 | €328,330 | €572,459 | +€244,129 | +74.4% |
| Financial fixed assets | 28 | €388,749 | €546,343 | +€157,594 | +40.5% |
| Current assets | 29/58 | €46,877 | €61,148 | +€14,271 | +30.4% |
| Amounts receivable within one year | 40/41 | €17,373 | €44,375 | +€27,002 | +155% |
| Trade receivables | 40 | €4,396 | €13,332 | +€8,936 | +203% |
| Other amounts receivable | 41 | €12,977 | €31,043 | +€18,067 | +139% |
| Cash at bank and in hand | 54/58 | €21,881 | €12,832 | -€9,049 | -41.4% |
| Deferred charges and accrued income | 490/1 | €7,623 | €3,941 | -€3,682 | -48.3% |
| Total equity and liabilities | 10/49 | €1,777,871 | €2,140,685 | +€362,814 | +20.4% |
| Equity | 10/15 | €250,991 | €305,888 | +€54,897 | +21.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €220,150 | €275,150 | +€55,000 | +25.0% |
| Distributable reserves | 133 | €220,150 | €275,150 | +€55,000 | +25.0% |
| Profit (loss) carried forward | 14 | €841 | €738 | -€103 | -12.2% |
| Amounts payable | 17/49 | €1,526,881 | €1,834,797 | +€307,917 | +20.2% |
| Amounts payable after more than one year | 17 | €1,324,966 | €1,546,947 | +€221,982 | +16.8% |
| Financial debts | 170/4 | €1,324,966 | €1,546,947 | +€221,982 | +16.8% |
| Amounts payable within one year | 42/48 | €198,432 | €282,792 | +€84,360 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | €64,871 | €104,940 | +€40,069 | +61.8% |
| Trade debts | 44 | €13,546 | €15,101 | +€1,555 | +11.5% |
| Suppliers | 440/4 | €13,546 | €15,101 | +€1,555 | +11.5% |
| Taxes, remuneration and social security | 45 | €7,645 | €7,656 | +€12 | +0.2% |
| Taxes | 450/3 | €7,645 | €7,656 | +€12 | +0.2% |
| Other amounts payable | 47/48 | €112,371 | €155,094 | +€42,724 | +38.0% |
| Accrued charges and deferred income | 492/3 | €3,483 | €5,058 | +€1,576 | +45.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,583 | €53,179 | +€3,596 | +7.3% |
| Other operating charges | 640/8 | €6,595 | €6,616 | +€21 | +0.3% |
| Gross operating margin | 9900 | -€3,625 | €62,179 | +€65,804 | |
| Operating profit (loss) | 9901 | -€59,803 | €2,383 | +€62,186 | |
| Financial income | 75/76B | €110,000 | €100,000 | -€10,000 | -9.1% |
| Recurring financial income | 75 | €110,000 | €100,000 | -€10,000 | -9.1% |
| Financial charges | 65/66B | €37,739 | €44,403 | +€6,664 | +17.7% |
| Recurring financial charges | 65 | €37,739 | €44,403 | +€6,664 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | €12,458 | €57,981 | +€45,522 | +365% |
| Income taxes | 67/77 | €1,251 | €1,417 | +€166 | +13.3% |
| Profit (loss) for the period | 9904 | €11,207 | €56,563 | +€45,356 | +405% |
| Profit (loss) for the period to be appropriated | 9905 | €11,207 | €56,563 | +€45,356 | +405% |
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.