DSK: what changed
DSK
Largest movements
- Cash +€461,472
up €461,472 (+3,272%), from €14,102 to €475,574
mainly Investment in fixed assets (net) (+€424,534) and Trade debts (+€176,283)
- Tangible fixed assets -€428,794
down €428,794 (-81.2%), from €528,293 to €99,499
- Receivables within one year +€31,744
up €31,744 (+947%), from €3,351 to €35,095
- Other debts -€216,235
no longer reported in 2025 (was €216,235)
- Trade debts +€176,283
up €176,283 (+72,844%), from €242 to €176,525
- Reserves +€87,541
up €87,541 (+41.1%), from €212,815 to €300,356
of which Tax-exempt reserves: +€87,227
- Provisions +€29,076
up €29,076 (+78.2%), from €37,190 to €66,266
- Tax, wage and social debts -€7,013
down €7,013 (-66.5%), from €10,545 to €3,532
- Purchases and services +€164,584
new in 2025: €164,584
- Gross operating margin +€79,538
up €79,538 (+124%), from €64,138 to €143,676
- Depreciation -€23,302
down €23,302 (-84.5%), from €27,562 to €4,260
- Financial charges -€10,312
down €10,312 (-90.1%), from €11,444 to €1,132
- Taxes -€3,306
down €3,306 (-96.7%), from €3,419 to €113
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €545,746 | €610,168 | +€64,422 | +11.8% |
| Fixed assets | 21/28 | €528,293 | €99,499 | -€428,794 | -81.2% |
| Tangible fixed assets | 22/27 | €528,293 | €99,499 | -€428,794 | -81.2% |
| Land and buildings | 22 | €528,293 | €99,499 | -€428,794 | -81.2% |
| Current assets | 29/58 | €17,453 | €510,669 | +€493,216 | +2,826% |
| Amounts receivable within one year | 40/41 | €3,351 | €35,095 | +€31,744 | +947% |
| Other amounts receivable | 41 | €3,351 | €35,095 | +€31,744 | +947% |
| Cash at bank and in hand | 54/58 | €14,102 | €475,574 | +€461,472 | +3,272% |
| Total equity and liabilities | 10/49 | €545,746 | €610,168 | +€64,422 | +11.8% |
| Equity | 10/15 | €231,365 | €318,906 | +€87,541 | +37.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Contributions outside capital | 11 | €18,550 | €18,550 | = | 0.0% |
| Other | 1109/19 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €212,815 | €300,356 | +€87,541 | +41.1% |
| Non-distributable reserves | 130/1 | €19,131 | €19,131 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,131 | €19,131 | = | 0.0% |
| Tax-exempt reserves | 132 | €111,571 | €198,798 | +€87,227 | +78.2% |
| Distributable reserves | 133 | €82,113 | €82,427 | +€314 | +0.4% |
| Provisions and deferred taxes | 16 | €37,190 | €66,266 | +€29,076 | +78.2% |
| Deferred taxes | 168 | €37,190 | €66,266 | +€29,076 | +78.2% |
| Amounts payable | 17/49 | €277,191 | €224,996 | -€52,195 | -18.8% |
| Amounts payable after more than one year | 17 | €44,940 | €39,614 | -€5,326 | -11.9% |
| Financial debts | 170/4 | €44,940 | €39,614 | -€5,326 | -11.9% |
| Amounts payable within one year | 42/48 | €232,251 | €185,382 | -€46,869 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €5,229 | €5,325 | +€96 | +1.8% |
| Trade debts | 44 | €242 | €176,525 | +€176,283 | +72,844% |
| Suppliers | 440/4 | €242 | €176,525 | +€176,283 | +72,844% |
| Taxes, remuneration and social security | 45 | €10,545 | €3,532 | -€7,013 | -66.5% |
| Taxes | 450/3 | €10,545 | €3,532 | -€7,013 | -66.5% |
| Other amounts payable | 47/48 | €216,235 | - | -€216,235 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €164,584 | +€164,584 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,562 | €4,260 | -€23,302 | -84.5% |
| Other operating charges | 640/8 | €20,903 | €21,554 | +€651 | +3.1% |
| Gross operating margin | 9900 | €64,138 | €143,676 | +€79,538 | +124% |
| Operating profit (loss) | 9901 | €15,673 | €117,862 | +€102,189 | +652% |
| Financial charges | 65/66B | €11,444 | €1,132 | -€10,312 | -90.1% |
| Recurring financial charges | 65 | €11,444 | €1,132 | -€10,312 | -90.1% |
| Profit (loss) for the period before taxes | 9903 | €4,229 | €116,730 | +€112,501 | +2,660% |
| Transfer from deferred taxes | 780 | €2,145 | €37,190 | +€35,045 | +1,634% |
| Transfer to deferred taxes | 680 | - | €66,266 | +€66,266 | |
| Income taxes | 67/77 | €3,419 | €113 | -€3,306 | -96.7% |
| Profit (loss) for the period | 9904 | €2,955 | €87,541 | +€84,586 | +2,862% |
| Transfer from tax-exempt reserves | 789 | €6,437 | €111,571 | +€105,134 | +1,633% |
| Transfer to tax-exempt reserves | 689 | - | €198,798 | +€198,798 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,392 | €314 | -€9,078 | -96.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.