DSV BELGIUM: 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.
DSV BELGIUM
Largest movements
- Cash +€363,285
up €363,285 (+17.3%), from €2.1m to €2.5m
mainly Net result for the year (+€306,947) and Current investments (+€300,000)
- Current investments -€300,000
down €300,000 (-49.6%), from €605,072 to €305,072
- Tangible fixed assets +€280,567
up €280,567 (+72.7%), from €386,114 to €666,681
of which Furniture and vehicles: +€182,374
- Receivables within one year -€173,443
down €173,443 (-10.8%), from €1.6m to €1.4m
of which Trade receivables: -€141,278
- Trade debts +€222,267
up €222,267 (+6.2%), from €3.6m to €3.8m
- Other debts -€124,213
down €124,213 (-58.9%), from €210,889 to €86,677
- Accrued charges and deferred income -€75,071
down €75,071 (-100%), from €75,071 to €0
- Reserves +€75,000
up €75,000 (+19.7%), from €381,332 to €456,332
of which Distributable reserves: +€75,000
- Gross operating margin +€166,560
up €166,560 (+15.2%), from €1.1m to €1.3m
- Staff costs +€125,831
up €125,831 (+17.7%), from €710,698 to €836,529
- Depreciation +€33,522
up €33,522 (+43.7%), from €76,673 to €110,195
- Provisions +€18,718
up €18,718 (+58.8%), from -€31,837 to -€13,119
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 | €5,175,828 | €5,293,805 | +€117,977 | +2.3% |
| Fixed assets | 21/28 | €403,084 | €677,952 | +€274,867 | +68.2% |
| Intangible fixed assets | 21 | €13,221 | €7,071 | -€6,150 | -46.5% |
| Tangible fixed assets | 22/27 | €386,114 | €666,681 | +€280,567 | +72.7% |
| Land and buildings | 22 | €40,090 | €107,978 | +€67,888 | +169% |
| Plant, machinery and equipment | 23 | €10,455 | €39,160 | +€28,705 | +275% |
| Furniture and vehicles | 24 | €327,679 | €510,053 | +€182,374 | +55.7% |
| Other tangible fixed assets | 26 | €7,890 | €9,490 | +€1,600 | +20.3% |
| Financial fixed assets | 28 | €3,750 | €4,200 | +€450 | +12.0% |
| Current assets | 29/58 | €4,772,744 | €4,615,853 | -€156,890 | -3.3% |
| Amounts receivable after more than one year | 29 | €430,000 | €400,000 | -€30,000 | -7.0% |
| Other amounts receivable | 291 | €430,000 | €400,000 | -€30,000 | -7.0% |
| Amounts receivable within one year | 40/41 | €1,608,840 | €1,435,396 | -€173,443 | -10.8% |
| Trade receivables | 40 | €1,570,609 | €1,429,331 | -€141,278 | -9.0% |
| Other amounts receivable | 41 | €38,230 | €6,065 | -€32,166 | -84.1% |
| Current investments | 50/53 | €605,072 | €305,072 | -€300,000 | -49.6% |
| Cash at bank and in hand | 54/58 | €2,105,122 | €2,468,407 | +€363,285 | +17.3% |
| Deferred charges and accrued income | 490/1 | €23,710 | €6,978 | -€16,732 | -70.6% |
| Total equity and liabilities | 10/49 | €5,175,828 | €5,293,805 | +€117,977 | +2.3% |
| Equity | 10/15 | €1,184,170 | €1,291,116 | +€106,947 | +9.0% |
| Contributions | 10/11 | €67,600 | €67,600 | = | 0.0% |
| Capital | 10 | €67,600 | €67,600 | = | 0.0% |
| Issued capital | 100 | €67,600 | €67,600 | = | 0.0% |
| Reserves | 13 | €381,332 | €456,332 | +€75,000 | +19.7% |
| Non-distributable reserves | 130/1 | €6,760 | €6,760 | = | 0.0% |
| Legal reserve | 130 | €6,760 | €6,760 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,572 | €24,572 | = | 0.0% |
| Distributable reserves | 133 | €350,000 | €425,000 | +€75,000 | +21.4% |
| Profit (loss) carried forward | 14 | €735,237 | €767,184 | +€31,947 | +4.3% |
| Provisions and deferred taxes | 16 | €13,119 | €0 | -€13,119 | -100% |
| Provisions for liabilities and charges | 160/5 | €13,119 | €0 | -€13,119 | -100% |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €13,119 | €0 | -€13,119 | -100% |
| Amounts payable | 17/49 | €3,978,539 | €4,002,689 | +€24,149 | +0.6% |
| Amounts payable within one year | 42/48 | €3,903,468 | €4,002,689 | +€99,221 | +2.5% |
| Trade debts | 44 | €3,598,060 | €3,820,327 | +€222,267 | +6.2% |
| Suppliers | 440/4 | €3,598,060 | €3,820,327 | +€222,267 | +6.2% |
| Taxes, remuneration and social security | 45 | €94,519 | €95,685 | +€1,166 | +1.2% |
| Taxes | 450/3 | €25,000 | €7,500 | -€17,500 | -70.0% |
| Remuneration and social security | 454/9 | €69,519 | €88,185 | +€18,666 | +26.9% |
| Other amounts payable | 47/48 | €210,889 | €86,677 | -€124,213 | -58.9% |
| Accrued charges and deferred income | 492/3 | €75,071 | €0 | -€75,071 | -100% |
| Remuneration, social security and pensions | 62 | €710,698 | €836,529 | +€125,831 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,673 | €110,195 | +€33,522 | +43.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€31,837 | -€13,119 | +€18,718 | +58.8% |
| Other operating charges | 640/8 | €1,044 | €917 | -€127 | -12.1% |
| Gross operating margin | 9900 | €1,093,931 | €1,260,491 | +€166,560 | +15.2% |
| Operating profit (loss) | 9901 | €337,353 | €325,969 | -€11,384 | -3.4% |
| Financial income | 75/76B | €61,384 | €58,078 | -€3,306 | -5.4% |
| Recurring financial income | 75 | €61,384 | €58,078 | -€3,306 | -5.4% |
| Financial charges | 65/66B | €10,692 | €17,505 | +€6,813 | +63.7% |
| Recurring financial charges | 65 | €10,692 | €17,505 | +€6,813 | +63.7% |
| Profit (loss) for the period before taxes | 9903 | €388,045 | €366,542 | -€21,503 | -5.5% |
| Income taxes | 67/77 | €65,434 | €59,595 | -€5,838 | -8.9% |
| Profit (loss) for the period | 9904 | €322,612 | €306,947 | -€15,665 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €322,612 | €306,947 | -€15,665 | -4.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.