Concept:
The given differential equation is homogeneous because every term appearing in the numerator and denominator has the same degree. Such equations are solved by using the substitution
\[
y=vx.
\]
This converts the differential equation into a separable equation involving \(v\) and \(x\).
Step 1: Rewrite the equation in derivative form.
Given,
\[
(2xy+y^2)\,dy
=
(x^2-y^2)\,dx.
\]
Dividing by \(dx\),
\[
(2xy+y^2)\frac{dy}{dx}
=
x^2-y^2.
\]
Hence,
\[
\frac{dy}{dx}
=
\frac{x^2-y^2}
{2xy+y^2}.
\]
Step 2: Verify homogeneity.
Observe that
\[
x^2,\quad y^2,\quad xy
\]
all have degree \(2\).
Therefore the differential equation is homogeneous.
Use
\[
y=vx.
\]
Then
\[
\frac{dy}{dx}
=
v+x\frac{dv}{dx}.
\]
Step 3: Substitute \(y=vx\).
Substituting into the equation,
\[
v+x\frac{dv}{dx}
=
\frac{x^2-v^2x^2}
{2vx^2+v^2x^2}.
\]
Canceling \(x^2\),
\[
v+x\frac{dv}{dx}
=
\frac{1-v^2}
{2v+v^2}.
\]
Step 4: Isolate the derivative term.
Subtract \(v\) from both sides:
\[
x\frac{dv}{dx}
=
\frac{1-v^2}{2v+v^2}
-v.
\]
Taking a common denominator,
\[
x\frac{dv}{dx}
=
\frac{1-v^2-2v^2-v^3}
{2v+v^2}.
\]
\[
x\frac{dv}{dx}
=
\frac{1-3v^2-v^3}
{2v+v^2}.
\]
Step 5: Separate the variables.
\[
\frac{2v+v^2}
{1-3v^2-v^3}
\,dv
=
\frac{dx}{x}.
\]
Step 6: Integrate both sides.
Notice that
\[
\frac{d}{dv}(1-3v^2-v^3)
=
-6v-3v^2
=
-3(2v+v^2).
\]
Let
\[
t=1-3v^2-v^3.
\]
Then
\[
dt=-3(2v+v^2)\,dv.
\]
Thus,
\[
(2v+v^2)\,dv
=
-\frac{dt}{3}.
\]
Substituting,
\[
-\frac13
\int \frac{dt}{t}
=
\int \frac{dx}{x}.
\]
Integrating,
\[
-\frac13\ln|t|
=
\ln|x|
+C.
\]
Multiplying by \(-3\),
\[
\ln|t|
=
-3\ln|x|
+C_1.
\]
\[
\ln|t|
=
\ln\left(\frac{C}{x^3}\right).
\]
Therefore,
\[
t=\frac{C}{x^3}.
\]
Step 7: Substitute back.
Since
\[
t=1-3v^2-v^3,
\]
we obtain
\[
1-3v^2-v^3
=
\frac{C}{x^3}.
\]
Multiplying by \(x^3\),
\[
x^3(1-3v^2-v^3)=C.
\]
Using
\[
v=\frac{y}{x},
\]
we get
\[
x^3
-3x^3\left(\frac{y^2}{x^2}\right)
-x^3\left(\frac{y^3}{x^3}\right)
=
C.
\]
Simplifying,
\[
x^3-3xy^2-y^3=C.
\]
Replacing \(C\) by \(c\),
\[
x^3-3xy^2-y^3=c.
\]
Step 8: Final Answer.
\[
\boxed{
x^3-3xy^2-y^3=c
}
\]
Hence the correct option is
\[
\boxed{\text{(D)}}.
\]