DALEM: what changed
Two fiscal 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.
DALEM
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-56.8%), from €2.0m to €854,910
of which Trade receivables: -€1.3m
- Tangible fixed assets -€23,888
down €23,888 (-53.4%), from €44,742 to €20,853
of which Plant, machinery and equipment: -€22,048
- Deferred charges and accrued income +€22,234
up €22,234 (+287.4%), from €7,736 to €29,970
- Short-term financial debts -€871,403
down €871,403 (-96.1%), from €907,132 to €35,730
- Trade debts -€234,258
down €234,258 (-35.9%), from €652,237 to €417,979
- Accrued charges and deferred income -€72,876
down €72,876 (-100.0%), from €72,876 to €0
- Tax, wage and social debts +€31,648
up €31,648 (+20.5%), from €154,408 to €186,056
of which Remuneration and social security: +€29,419
- Other debts -€27,992
down €27,992 (-97.9%), from €28,600 to €608
- Gross operating margin +€264,583
up €264,583 (+36.3%), from €729,151 to €993,734
- Staff costs +€248,735
up €248,735 (+37.0%), from €671,415 to €920,150
- Depreciation +€21,675
up €21,675 (+837.2%), from €2,589 to €24,264
- Financial charges -€10,442
down €10,442 (-72.0%), from €14,496 to €4,055
- Other operating charges -€10,237
down €10,237 (-76.8%), from €13,328 to €3,091
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.
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,032,680 | €905,733 | -€1.1m | -55.4% |
| Fixed assets | 21/28 | €44,742 | €20,853 | -€23,888 | -53.4% |
| Tangible fixed assets | 22/27 | €44,742 | €20,853 | -€23,888 | -53.4% |
| Plant, machinery and equipment | 23 | €38,697 | €16,649 | -€22,048 | -57.0% |
| Furniture and vehicles | 24 | €6,045 | €4,205 | -€1,840 | -30.4% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €1,987,938 | €884,880 | -€1.1m | -55.5% |
| Amounts receivable within one year | 40/41 | €1,980,202 | €854,910 | -€1.1m | -56.8% |
| Trade receivables | 40 | €1,975,756 | €656,199 | -€1.3m | -66.8% |
| Other amounts receivable | 41 | €4,446 | €198,711 | +€194,264 | +4369.0% |
| Deferred charges and accrued income | 490/1 | €7,736 | €29,970 | +€22,234 | +287.4% |
| Total equity and liabilities | 10/49 | €2,032,680 | €905,733 | -€1.1m | -55.4% |
| Equity | 10/15 | €215,716 | €241,604 | +€25,887 | +12.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €42,387 | €42,387 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €36,187 | €36,187 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,329 | €137,217 | +€25,887 | +23.3% |
| Amounts payable | 17/49 | €1,816,963 | €664,129 | -€1.2m | -63.4% |
| Amounts payable within one year | 42/48 | €1,744,088 | €664,129 | -€1.1m | -61.9% |
| Current portion of amounts payable after more than one year | 42 | €1,710 | €23,756 | +€22,046 | +1289.3% |
| Financial debts | 43 | €907,132 | €35,730 | -€871,403 | -96.1% |
| Other loans | 439 | €907,132 | €35,730 | -€871,403 | -96.1% |
| Trade debts | 44 | €652,237 | €417,979 | -€234,258 | -35.9% |
| Suppliers | 440/4 | €652,237 | €417,979 | -€234,258 | -35.9% |
| Taxes, remuneration and social security | 45 | €154,408 | €186,056 | +€31,648 | +20.5% |
| Taxes | 450/3 | €61,944 | €64,173 | +€2,229 | +3.6% |
| Remuneration and social security | 454/9 | €92,464 | €121,883 | +€29,419 | +31.8% |
| Other amounts payable | 47/48 | €28,600 | €608 | -€27,992 | -97.9% |
| Accrued charges and deferred income | 492/3 | €72,876 | €0 | -€72,876 | -100.0% |
| Non-recurring operating income | 76A | €86,071 | €7,387 | -€78,684 | -91.4% |
| Remuneration, social security and pensions | 62 | €671,415 | €920,150 | +€248,735 | +37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,589 | €24,264 | +€21,675 | +837.2% |
| Other operating charges | 640/8 | €13,328 | €3,091 | -€10,237 | -76.8% |
| Gross operating margin | 9900 | €729,151 | €993,734 | +€264,583 | +36.3% |
| Operating profit (loss) | 9901 | €41,819 | €46,229 | +€4,410 | +10.5% |
| Financial income | 75/76B | €735 | €41 | -€694 | -94.4% |
| Recurring financial income | 75 | €735 | €41 | -€694 | -94.4% |
| Financial charges | 65/66B | €14,496 | €4,055 | -€10,442 | -72.0% |
| Recurring financial charges | 65 | €14,496 | €4,055 | -€10,442 | -72.0% |
| Profit (loss) for the period before taxes | 9903 | €28,058 | €42,215 | +€14,158 | +50.5% |
| Income taxes | 67/77 | €10,985 | €16,328 | +€5,343 | +48.6% |
| Profit (loss) for the period | 9904 | €17,073 | €25,887 | +€8,815 | +51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,073 | €25,887 | +€8,815 | +51.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.