DSV 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.
DSV HOLDING
Largest movements
- Cash +€125,068
up €125,068 (+1,119%), from €11,180 to €136,248
mainly Other debts (+€310,067) and Net result for the year (+€16,173)
- Other debts +€310,067
up €310,067 (+290%), from €106,864 to €416,931
- Debts after one year -€221,680
down €221,680 (-7.9%), from €2.8m to €2.6m
of which Financial debts: -€221,680
- Gross operating margin -€49,765
down €49,765 (-52.3%), from €95,127 to €45,362
- Staff costs -€47,060
no longer reported in 2025 (was €47,060)
- Financial charges -€6,228
down €6,228 (-29.2%), from €21,327 to €15,098
of which Financial charges: -€5,846
- Depreciation -€1,189
down €1,189 (-16.3%), from €7,305 to €6,116
- Taxes +€1,144
up €1,144 (+18.3%), from €6,238 to €7,383
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 | €3,531,094 | €3,655,991 | +€124,896 | +3.5% |
| Fixed assets | 21/28 | €3,512,958 | €3,506,842 | -€6,116 | -0.2% |
| Intangible fixed assets | 21 | €8,634 | €2,518 | -€6,116 | -70.8% |
| Financial fixed assets | 28 | €3,504,323 | €3,504,323 | = | 0.0% |
| Current assets | 29/58 | €18,137 | €149,149 | +€131,012 | +722% |
| Amounts receivable within one year | 40/41 | €5,466 | €11,344 | +€5,878 | +108% |
| Trade receivables | 40 | - | €7,683 | +€7,683 | |
| Other amounts receivable | 41 | €5,466 | €3,661 | -€1,805 | -33.0% |
| Cash at bank and in hand | 54/58 | €11,180 | €136,248 | +€125,068 | +1,119% |
| Deferred charges and accrued income | 490/1 | €1,491 | €1,557 | +€66 | +4.5% |
| Total equity and liabilities | 10/49 | €3,531,094 | €3,655,991 | +€124,896 | +3.5% |
| Equity | 10/15 | €308,973 | €325,145 | +€16,173 | +5.2% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Capital | 10 | €50,000 | €50,000 | = | 0.0% |
| Issued capital | 100 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €258,973 | €275,145 | +€16,173 | +6.2% |
| Distributable reserves | 133 | €258,973 | €275,145 | +€16,173 | +6.2% |
| Amounts payable | 17/49 | €3,222,122 | €3,330,845 | +€108,724 | +3.4% |
| Amounts payable after more than one year | 17 | €2,818,420 | €2,596,740 | -€221,680 | -7.9% |
| Financial debts | 170/4 | €353,806 | €132,126 | -€221,680 | -62.7% |
| Other amounts payable | 178/9 | €2,464,614 | €2,464,614 | = | 0.0% |
| Amounts payable within one year | 42/48 | €403,702 | €734,105 | +€330,403 | +81.8% |
| Current portion of amounts payable after more than one year | 42 | €222,239 | €221,680 | -€559 | -0.3% |
| Trade debts | 44 | €14,125 | €19,036 | +€4,910 | +34.8% |
| Suppliers | 440/4 | €14,125 | €19,036 | +€4,910 | +34.8% |
| Taxes, remuneration and social security | 45 | €60,474 | €76,459 | +€15,985 | +26.4% |
| Taxes | 450/3 | €52,674 | €69,259 | +€16,585 | +31.5% |
| Remuneration and social security | 454/9 | €7,800 | €7,200 | -€600 | -7.7% |
| Other amounts payable | 47/48 | €106,864 | €416,931 | +€310,067 | +290% |
| Remuneration, social security and pensions | 62 | €47,060 | - | -€47,060 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,305 | €6,116 | -€1,189 | -16.3% |
| Other operating charges | 640/8 | €100 | €837 | +€737 | +737% |
| Gross operating margin | 9900 | €95,127 | €45,362 | -€49,765 | -52.3% |
| Operating profit (loss) | 9901 | €40,663 | €38,409 | -€2,253 | -5.5% |
| Financial income | 75/76B | €372 | €244 | -€128 | -34.3% |
| Recurring financial income | 75 | €372 | €244 | -€128 | -34.3% |
| Financial charges | 65/66B | €21,327 | €15,098 | -€6,228 | -29.2% |
| Recurring financial charges | 65 | €20,516 | €14,670 | -€5,846 | -28.5% |
| Non-recurring financial charges | 66B | €810 | €428 | -€382 | -47.1% |
| Profit (loss) for the period before taxes | 9903 | €19,708 | €23,555 | +€3,847 | +19.5% |
| Income taxes | 67/77 | €6,238 | €7,383 | +€1,144 | +18.3% |
| Profit (loss) for the period | 9904 | €13,470 | €16,173 | +€2,703 | +20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,470 | €16,173 | +€2,703 | +20.1% |
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 16 October 2026 via checked.be.