ATELIERS DELBEQUE: 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.
What changed
ATELIERS DELBEQUE
NACE 25.110, Manufacture of metal structures and parts of structures
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€439,204
2024 · €319,600+€119,604
Equity
€7.8m
2024 · €7.6m+€135,317
Cash
€4.2m
2024 · €3.8m+€438,448
Balance sheet total
€10.4m
2024 · €8.6m+€1.8m
Largest movements
Assets
- Current investments +€1.5m
up €1.5m (+148%), from €1.0m to €2.5m
- Receivables within one year -€535,690
down €535,690 (-27.5%), from €2.0m to €1.4m
of which Trade receivables: -€438,281
- Cash +€438,448
up €438,448 (+11.5%), from €3.8m to €4.2m
mainly Advances received (+€1.5m) and Receivables within one year (+€535,690)
- Stocks and contracts +€229,908
up €229,908 (+62.8%), from €365,935 to €595,843
Equity and liabilities
- Advances received +€1.5m
new in 2025: €1.5m
- Trade debts +€167,433
up €167,433 (+24.5%), from €683,245 to €850,678
- Profit (loss) carried forward +€135,354
up €135,354 (+3,516%), from €3,850 to €139,204
- Tax, wage and social debts +€122,844
up €122,844 (+138%), from €88,766 to €211,611
of which Taxes: +€123,080
- Current portion of long-term debt -€120,939
no longer reported in 2025 (was €120,939)
Income statement
- Gross operating margin +€331,322
up €331,322 (+19.6%), from €1.7m to €2.0m
- Taxes +€233,466
up €233,466 (+77,064%), from €303 to €233,769
- Depreciation -€46,086
down €46,086 (-18.0%), from €256,571 to €210,484
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.
Result 2024
€319,600
Gross operating margin
+€331,322
Staff costs
+€5,952
Depreciation
+€46,086
Other operating charges
-€7,017
Financial income
-€18,559
Financial charges
-€4,714
Taxes
-€233,466
Result 2025
€439,204
raises the resultlowers the result
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.
From operations
+€2.6m
Investment
-€1.8m
Financing
-€424,826
Cash 2024
€3.8m
From operations (derived)
+€2.6m
Net result for the year
+€439,204
Depreciation
+€210,484
Stocks and contracts
-€229,908
Receivables within one year
+€535,690
Deferred charges and accrued income
-€98,120
Smaller working-capital items
-€1,341
Trade debts
+€167,433
Tax, wage and social debts
+€122,844
Advances received
+€1.5m
Investment (derived)
-€1.8m
Investment in fixed assets (net)
-€255,291
Current investments
-€1.5m
Financing
-€424,826
Current portion of long-term debt
-€120,939
Contributions, distributions and other
-€303,887
Cash 2025
€4.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,591,538 | €10,377,957 | +€1.8m | +20.8% |
| Fixed assets | 21/28 | €1,404,361 | €1,449,168 | +€44,807 | +3.2% |
| Tangible fixed assets | 22/27 | €1,404,361 | €1,449,168 | +€44,807 | +3.2% |
| Land and buildings | 22 | €1,257,184 | €1,157,887 | -€99,297 | -7.9% |
| Plant, machinery and equipment | 23 | €104,384 | €43,079 | -€61,305 | -58.7% |
| Furniture and vehicles | 24 | €42,793 | €162,202 | +€119,409 | +279% |
| Assets under construction and advance payments | 27 | - | €86,000 | +€86,000 | |
| Current assets | 29/58 | €7,187,177 | €8,928,789 | +€1.7m | +24.2% |
| Stocks and contracts in progress | 3 | €365,935 | €595,843 | +€229,908 | +62.8% |
| Stocks | 30/36 | €365,935 | €595,843 | +€229,908 | +62.8% |
| Amounts receivable within one year | 40/41 | €1,951,013 | €1,415,323 | -€535,690 | -27.5% |
| Trade receivables | 40 | €1,451,447 | €1,013,166 | -€438,281 | -30.2% |
| Other amounts receivable | 41 | €499,566 | €402,157 | -€97,409 | -19.5% |
| Current investments | 50/53 | €1,022,285 | €2,533,112 | +€1.5m | +148% |
| Cash at bank and in hand | 54/58 | €3,796,665 | €4,235,112 | +€438,448 | +11.5% |
| Deferred charges and accrued income | 490/1 | €51,280 | €149,400 | +€98,120 | +191% |
| Total equity and liabilities | 10/49 | €8,591,538 | €10,377,957 | +€1.8m | +20.8% |
| Equity | 10/15 | €7,649,485 | €7,784,802 | +€135,317 | +1.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €7,534,983 | €7,538,832 | +€3,850 | +0.1% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €526,250 | €526,250 | = | 0.0% |
| Distributable reserves | 133 | €7,002,583 | €7,006,432 | +€3,850 | +0.1% |
| Profit (loss) carried forward | 14 | €3,850 | €139,204 | +€135,354 | +3,516% |
| Investment grants | 15 | €49,152 | €45,265 | -€3,887 | -7.9% |
| Provisions and deferred taxes | 16 | €48,115 | €46,819 | -€1,296 | -2.7% |
| Provisions for liabilities and charges | 160/5 | €31,730 | €31,730 | = | 0.0% |
| Pensions and similar obligations | 160 | €31,730 | €31,730 | = | 0.0% |
| Deferred taxes | 168 | €16,384 | €15,088 | -€1,296 | -7.9% |
| Amounts payable | 17/49 | €893,939 | €2,546,336 | +€1.7m | +185% |
| Amounts payable within one year | 42/48 | €893,939 | €2,546,336 | +€1.7m | +185% |
| Current portion of amounts payable after more than one year | 42 | €120,939 | - | -€120,939 | |
| Trade debts | 44 | €683,245 | €850,678 | +€167,433 | +24.5% |
| Suppliers | 440/4 | €683,245 | €850,678 | +€167,433 | +24.5% |
| Advances received on contracts in progress | 46 | - | €1,483,103 | +€1.5m | |
| Taxes, remuneration and social security | 45 | €88,766 | €211,611 | +€122,844 | +138% |
| Taxes | 450/3 | - | €123,080 | +€123,080 | |
| Remuneration and social security | 454/9 | €88,766 | €88,531 | -€236 | -0.3% |
| Other amounts payable | 47/48 | €989 | €944 | -€45 | -4.6% |
| Remuneration, social security and pensions | 62 | €1,125,598 | €1,119,646 | -€5,952 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €256,571 | €210,484 | -€46,086 | -18.0% |
| Other operating charges | 640/8 | €15,304 | €22,321 | +€7,017 | +45.8% |
| Gross operating margin | 9900 | €1,693,674 | €2,024,997 | +€331,322 | +19.6% |
| Operating profit (loss) | 9901 | €296,202 | €672,546 | +€376,344 | +127% |
| Financial income | 75/76B | €32,059 | €13,500 | -€18,559 | -57.9% |
| Recurring financial income | 75 | €32,059 | €13,500 | -€18,559 | -57.9% |
| Financial charges | 65/66B | €9,654 | €14,369 | +€4,714 | +48.8% |
| Recurring financial charges | 65 | €9,654 | €14,369 | +€4,714 | +48.8% |
| Profit (loss) for the period before taxes | 9903 | €318,607 | €671,677 | +€353,070 | +111% |
| Transfer from deferred taxes | 780 | €1,296 | €1,296 | = | 0.0% |
| Income taxes | 67/77 | €303 | €233,769 | +€233,466 | +77,064% |
| Profit (loss) for the period | 9904 | €319,600 | €439,204 | +€119,604 | +37.4% |
| Transfer to tax-exempt reserves | 689 | €315,750 | - | -€315,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,850 | €439,204 | +€435,354 | +11,309% |
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 25 October 2026 via checked.be.