DSW BEHEER: 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.
DSW BEHEER
Largest movements
- Tangible fixed assets -€32,321
down €32,321 (-2.5%), from €1.3m to €1.2m
of which Land and buildings: -€31,617
- Debts after one year -€40,333
down €40,333 (-13.3%), from €302,499 to €262,166
- Reserves +€37,747
up €37,747 (+8.0%), from €472,458 to €510,205
- Other debts -€22,898
down €22,898 (-18.1%), from €126,576 to €103,678
- Depreciation -€15,818
down €15,818 (-27.2%), from €58,227 to €42,409
- Gross operating margin +€9,996
up €9,996 (+10.0%), from €99,685 to €109,681
- Other operating charges +€3,573
up €3,573 (+40.1%), from €8,916 to €12,489
- Financial charges -€2,995
down €2,995 (-15.0%), from €20,032 to €17,037
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 | €1,279,410 | €1,247,577 | -€31,832 | -2.5% |
| Fixed assets | 21/28 | €1,275,447 | €1,243,126 | -€32,321 | -2.5% |
| Tangible fixed assets | 22/27 | €1,275,447 | €1,243,126 | -€32,321 | -2.5% |
| Land and buildings | 22 | €1,262,091 | €1,230,475 | -€31,617 | -2.5% |
| Plant, machinery and equipment | 23 | €2,253 | €1,334 | -€919 | -40.8% |
| Furniture and vehicles | 24 | €11,103 | €11,317 | +€215 | +1.9% |
| Current assets | 29/58 | €3,963 | €4,452 | +€489 | +12.3% |
| Cash at bank and in hand | 54/58 | €81 | €383 | +€302 | +371% |
| Deferred charges and accrued income | 490/1 | €3,881 | €4,068 | +€187 | +4.8% |
| Total equity and liabilities | 10/49 | €1,279,410 | €1,247,577 | -€31,832 | -2.5% |
| Equity | 10/15 | €791,050 | €828,797 | +€37,747 | +4.8% |
| Contributions | 10/11 | €318,592 | €318,592 | = | 0.0% |
| Reserves | 13 | €472,458 | €510,205 | +€37,747 | +8.0% |
| Distributable reserves | 133 | €472,458 | €510,205 | +€37,747 | +8.0% |
| Amounts payable | 17/49 | €488,359 | €418,780 | -€69,579 | -14.2% |
| Amounts payable after more than one year | 17 | €302,499 | €262,166 | -€40,333 | -13.3% |
| Financial debts | 170/4 | €302,499 | €262,166 | -€40,333 | -13.3% |
| Amounts payable within one year | 42/48 | €175,660 | €146,762 | -€28,898 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €43,695 | €40,333 | -€3,361 | -7.7% |
| Financial debts | 43 | €1,753 | €132 | -€1,621 | -92.4% |
| Credit institutions | 430/8 | €1,753 | €132 | -€1,621 | -92.4% |
| Trade debts | 44 | €3,636 | €2,618 | -€1,018 | -28.0% |
| Suppliers | 440/4 | €3,636 | €2,618 | -€1,018 | -28.0% |
| Other amounts payable | 47/48 | €126,576 | €103,678 | -€22,898 | -18.1% |
| Accrued charges and deferred income | 492/3 | €10,200 | €9,852 | -€348 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,227 | €42,409 | -€15,818 | -27.2% |
| Other operating charges | 640/8 | €8,916 | €12,489 | +€3,573 | +40.1% |
| Gross operating margin | 9900 | €99,685 | €109,681 | +€9,996 | +10.0% |
| Operating profit (loss) | 9901 | €32,542 | €54,783 | +€22,241 | +68.3% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €20,032 | €17,037 | -€2,995 | -15.0% |
| Recurring financial charges | 65 | €20,032 | €17,037 | -€2,995 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €12,510 | €37,747 | +€25,237 | +202% |
| Profit (loss) for the period | 9904 | €12,510 | €37,747 | +€25,237 | +202% |
| Profit (loss) for the period to be appropriated | 9905 | €12,510 | €37,747 | +€25,237 | +202% |
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 17 October 2026 via checked.be.