DSV Engineering: 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 Engineering
Largest movements
- Receivables within one year +€64,371
up €64,371 (+55.1%), from €116,755 to €181,127
of which Trade receivables: +€46,864
- Cash -€22,430
down €22,430 (-49.0%), from €45,802 to €23,373
mainly Receivables within one year (-€64,371) and Debts after one year (-€29,738)
- Tangible fixed assets -€20,216
down €20,216 (-9.7%), from €208,976 to €188,760
of which Leasing and similar rights: -€13,892
- Receivables after one year -€11,849
down €11,849 (-32.0%), from €36,989 to €25,139
- Deferred charges and accrued income -€6,236
down €6,236 (-41.5%), from €15,016 to €8,779
- Reserves +€36,409
up €36,409 (+28.1%), from €129,791 to €166,200
of which Distributable reserves: +€39,905
- Debts after one year -€29,738
down €29,738 (-16.3%), from €182,519 to €152,781
- Gross operating margin +€14,837
up €14,837 (+23.1%), from €64,271 to €79,109
- Depreciation -€3,657
down €3,657 (-13.8%), from €26,533 to €22,876
- Taxes +€2,240
up €2,240 (+23.8%), from €9,402 to €11,642
- Other operating charges +€891
up €891 (+24.9%), from €3,580 to €4,471
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 | €423,538 | €427,178 | +€3,640 | +0.9% |
| Fixed assets | 21/28 | €208,976 | €188,760 | -€20,216 | -9.7% |
| Tangible fixed assets | 22/27 | €208,976 | €188,760 | -€20,216 | -9.7% |
| Land and buildings | 22 | €146,761 | €142,405 | -€4,356 | -3.0% |
| Plant, machinery and equipment | 23 | €2,608 | €1,819 | -€789 | -30.2% |
| Furniture and vehicles | 24 | €1,996 | €3,622 | +€1,626 | +81.5% |
| Leasing and similar rights | 25 | €54,806 | €40,914 | -€13,892 | -25.3% |
| Other tangible fixed assets | 26 | €2,806 | - | -€2,806 | |
| Current assets | 29/58 | €214,562 | €238,418 | +€23,856 | +11.1% |
| Amounts receivable after more than one year | 29 | €36,989 | €25,139 | -€11,849 | -32.0% |
| Other amounts receivable | 291 | €36,989 | €25,139 | -€11,849 | -32.0% |
| Amounts receivable within one year | 40/41 | €116,755 | €181,127 | +€64,371 | +55.1% |
| Trade receivables | 40 | €38,626 | €85,490 | +€46,864 | +121% |
| Other amounts receivable | 41 | €78,129 | €95,637 | +€17,508 | +22.4% |
| Cash at bank and in hand | 54/58 | €45,802 | €23,373 | -€22,430 | -49.0% |
| Deferred charges and accrued income | 490/1 | €15,016 | €8,779 | -€6,236 | -41.5% |
| Total equity and liabilities | 10/49 | €423,538 | €427,178 | +€3,640 | +0.9% |
| Equity | 10/15 | €148,391 | €184,800 | +€36,409 | +24.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €129,791 | €166,200 | +€36,409 | +28.1% |
| Tax-exempt reserves | 132 | €15,099 | €11,603 | -€3,496 | -23.2% |
| Distributable reserves | 133 | €114,692 | €154,597 | +€39,905 | +34.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €3,292 | €2,126 | -€1,165 | -35.4% |
| Deferred taxes | 168 | €3,292 | €2,126 | -€1,165 | -35.4% |
| Amounts payable | 17/49 | €271,855 | €240,252 | -€31,603 | -11.6% |
| Amounts payable after more than one year | 17 | €182,519 | €152,781 | -€29,738 | -16.3% |
| Financial debts | 170/4 | €182,519 | €152,781 | -€29,738 | -16.3% |
| Amounts payable within one year | 42/48 | €88,436 | €85,166 | -€3,269 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €30,558 | €32,100 | +€1,543 | +5.0% |
| Trade debts | 44 | €18,515 | €15,994 | -€2,521 | -13.6% |
| Suppliers | 440/4 | €18,515 | €15,994 | -€2,521 | -13.6% |
| Taxes, remuneration and social security | 45 | €27,078 | €27,359 | +€281 | +1.0% |
| Taxes | 450/3 | €27,078 | €27,359 | +€281 | +1.0% |
| Other amounts payable | 47/48 | €12,285 | €9,713 | -€2,572 | -20.9% |
| Accrued charges and deferred income | 492/3 | €900 | €2,305 | +€1,405 | +156% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,533 | €22,876 | -€3,657 | -13.8% |
| Other operating charges | 640/8 | €3,580 | €4,471 | +€891 | +24.9% |
| Gross operating margin | 9900 | €64,271 | €79,109 | +€14,837 | +23.1% |
| Operating profit (loss) | 9901 | €34,158 | €51,762 | +€17,604 | +51.5% |
| Financial income | 75/76B | €4,931 | €4,712 | -€219 | -4.4% |
| Recurring financial income | 75 | €4,931 | €4,712 | -€219 | -4.4% |
| Financial charges | 65/66B | €9,428 | €9,589 | +€161 | +1.7% |
| Recurring financial charges | 65 | €9,428 | €9,589 | +€161 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €29,661 | €46,885 | +€17,224 | +58.1% |
| Transfer from deferred taxes | 780 | €1,165 | €1,165 | = | 0.0% |
| Income taxes | 67/77 | €9,402 | €11,642 | +€2,240 | +23.8% |
| Profit (loss) for the period | 9904 | €21,424 | €36,409 | +€14,984 | +69.9% |
| Transfer from tax-exempt reserves | 789 | €3,496 | €3,496 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,920 | €39,905 | +€14,984 | +60.1% |
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 29 October 2026 via checked.be.