DWS ART: 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.
DWS ART
Largest movements
- Tangible fixed assets -€282,156
down €282,156 (-35.0%), from €805,942 to €523,786
of which Land and buildings: -€273,617
- Short-term financial debts -€248,673
down €248,673 (-34.1%), from €729,410 to €480,737
of which Other loans: -€250,235
- Reserves -€30,025
down €30,025 (-97.9%), from €30,667 to €642
of which Tax-exempt reserves: -€30,025
- Debts after one year -€20,729
down €20,729 (-8.3%), from €250,412 to €229,683
- Staff costs -€16,347
down €16,347 (-42.8%), from €38,198 to €21,851
- Depreciation +€6,857
up €6,857 (+22.4%), from €30,617 to €37,474
- Taxes -€4,322
down €4,322 (-96.6%), from €4,476 to €154
- Gross operating margin +€1,427
up €1,427 (+3.5%), from €40,980 to €42,407
- Financial charges -€957
down €957 (-16.5%), from €5,785 to €4,828
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 | €1,086,504 | €791,988 | -€294,516 | -27.1% |
| Fixed assets | 21/28 | €805,942 | €523,786 | -€282,156 | -35.0% |
| Tangible fixed assets | 22/27 | €805,942 | €523,786 | -€282,156 | -35.0% |
| Land and buildings | 22 | €781,491 | €507,874 | -€273,617 | -35.0% |
| Plant, machinery and equipment | 23 | €518 | €2,518 | +€2,000 | +386% |
| Furniture and vehicles | 24 | €23,933 | €13,394 | -€10,539 | -44.0% |
| Current assets | 29/58 | €280,562 | €268,202 | -€12,360 | -4.4% |
| Stocks and contracts in progress | 3 | €88,570 | €78,909 | -€9,661 | -10.9% |
| Stocks | 30/36 | €88,570 | €78,909 | -€9,661 | -10.9% |
| Amounts receivable within one year | 40/41 | €3,517 | €86 | -€3,431 | -97.6% |
| Trade receivables | 40 | €348 | - | -€348 | |
| Other amounts receivable | 41 | €3,169 | €86 | -€3,083 | -97.3% |
| Cash at bank and in hand | 54/58 | €188,475 | €189,207 | +€732 | +0.4% |
| Total equity and liabilities | 10/49 | €1,086,504 | €791,988 | -€294,516 | -27.1% |
| Equity | 10/15 | €94,919 | €64,947 | -€29,972 | -31.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €30,667 | €642 | -€30,025 | -97.9% |
| Non-distributable reserves | 130/1 | €642 | €642 | = | 0.0% |
| Legal reserve | 130 | €642 | €642 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,025 | - | -€30,025 | |
| Profit (loss) carried forward | 14 | €45,652 | €45,705 | +€53 | +0.1% |
| Amounts payable | 17/49 | €991,585 | €727,041 | -€264,544 | -26.7% |
| Amounts payable after more than one year | 17 | €250,412 | €229,683 | -€20,729 | -8.3% |
| Financial debts | 170/4 | €250,412 | €229,683 | -€20,729 | -8.3% |
| Amounts payable within one year | 42/48 | €741,157 | €491,792 | -€249,365 | -33.6% |
| Financial debts | 43 | €729,410 | €480,737 | -€248,673 | -34.1% |
| Credit institutions | 430/8 | €18,899 | €20,461 | +€1,562 | +8.3% |
| Other loans | 439 | €710,511 | €460,276 | -€250,235 | -35.2% |
| Trade debts | 44 | €2,763 | €1,898 | -€865 | -31.3% |
| Suppliers | 440/4 | €2,763 | €1,898 | -€865 | -31.3% |
| Taxes, remuneration and social security | 45 | €8,984 | €9,157 | +€173 | +1.9% |
| Taxes | 450/3 | €845 | €851 | +€6 | +0.7% |
| Remuneration and social security | 454/9 | €8,139 | €8,306 | +€167 | +2.1% |
| Accrued charges and deferred income | 492/3 | €16 | €5,566 | +€5,550 | +34,688% |
| Remuneration, social security and pensions | 62 | €38,198 | €21,851 | -€16,347 | -42.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,617 | €37,474 | +€6,857 | +22.4% |
| Other operating charges | 640/8 | €7,711 | €8,072 | +€361 | +4.7% |
| Gross operating margin | 9900 | €40,980 | €42,407 | +€1,427 | +3.5% |
| Operating profit (loss) | 9901 | -€35,546 | -€24,990 | +€10,556 | +29.7% |
| Financial charges | 65/66B | €5,785 | €4,828 | -€957 | -16.5% |
| Recurring financial charges | 65 | €5,785 | €4,828 | -€957 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | -€41,331 | -€29,818 | +€11,513 | +27.9% |
| Income taxes | 67/77 | €4,476 | €154 | -€4,322 | -96.6% |
| Profit (loss) for the period | 9904 | -€45,807 | -€29,972 | +€15,835 | +34.6% |
| Transfer from tax-exempt reserves | 789 | €30,024 | €30,025 | +€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,783 | €53 | +€15,836 |
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 30 October 2026 via checked.be.