DEL: 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.
DEL
Largest movements
- Financial fixed assets +€364,737
up €364,737 (+49.5%), from €736,500 to €1.1m
- Deferred charges and accrued income +€40,748
new in 2025: €40,748
- Cash +€14,837
up €14,837 (+36.9%), from €40,158 to €54,995
mainly Debts after one year (+€364,737) and Other debts (+€47,973)
- Debts after one year +€364,737
new in 2025: €364,737
- Other debts +€47,973
up €47,973 (+399.0%), from €12,024 to €59,997
- Trade debts +€12,562
up €12,562 (+1294.2%), from €971 to €13,533
- Gross operating margin -€11,731
down €11,731 (-90.1%), from €13,016 to €1,286
- Financial charges +€3,262
up €3,262 (+389.8%), from €837 to €4,098
- Taxes -€1,469
down €1,469 (-37.8%), from €3,889 to €2,420
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
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 | €777,192 | €1,197,975 | +€420,784 | +54.1% |
| Fixed assets | 21/28 | €736,500 | €1,101,237 | +€364,737 | +49.5% |
| Financial fixed assets | 28 | €736,500 | €1,101,237 | +€364,737 | +49.5% |
| Current assets | 29/58 | €40,692 | €96,738 | +€56,046 | +137.7% |
| Amounts receivable within one year | 40/41 | €534 | €995 | +€462 | +86.6% |
| Trade receivables | 40 | - | €995 | +€995 | |
| Other amounts receivable | 41 | €534 | - | -€534 | |
| Cash at bank and in hand | 54/58 | €40,158 | €54,995 | +€14,837 | +36.9% |
| Deferred charges and accrued income | 490/1 | - | €40,748 | +€40,748 | |
| Total equity and liabilities | 10/49 | €777,192 | €1,197,975 | +€420,784 | +54.1% |
| Equity | 10/15 | €755,499 | €749,171 | -€6,328 | -0.8% |
| Contributions | 10/11 | €736,500 | €736,500 | = | 0.0% |
| Reserves | 13 | €18,999 | €18,999 | = | 0.0% |
| Distributable reserves | 133 | €18,999 | €18,999 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€6,328 | -€6,328 | |
| Amounts payable | 17/49 | €21,692 | €448,804 | +€427,112 | +1968.9% |
| Amounts payable after more than one year | 17 | - | €364,737 | +€364,737 | |
| Other amounts payable | 178/9 | - | €364,737 | +€364,737 | |
| Amounts payable within one year | 42/48 | €21,692 | €84,067 | +€62,374 | +287.5% |
| Trade debts | 44 | €971 | €13,533 | +€12,562 | +1294.2% |
| Suppliers | 440/4 | €971 | €13,533 | +€12,562 | +1294.2% |
| Taxes, remuneration and social security | 45 | €8,697 | €10,536 | +€1,839 | +21.1% |
| Taxes | 450/3 | €8,697 | €10,536 | +€1,839 | +21.1% |
| Other amounts payable | 47/48 | €12,024 | €59,997 | +€47,973 | +399.0% |
| Other operating charges | 640/8 | €1,043 | €1,095 | +€52 | +5.0% |
| Gross operating margin | 9900 | €13,016 | €1,286 | -€11,731 | -90.1% |
| Operating profit (loss) | 9901 | €11,973 | €191 | -€11,782 | -98.4% |
| Financial income | 75/76B | €31 | - | -€31 | |
| Recurring financial income | 75 | €31 | - | -€31 | |
| Financial charges | 65/66B | €837 | €4,098 | +€3,262 | +389.8% |
| Recurring financial charges | 65 | €837 | €4,098 | +€3,262 | +389.8% |
| Profit (loss) for the period before taxes | 9903 | €11,168 | -€3,907 | -€15,075 | |
| Income taxes | 67/77 | €3,889 | €2,420 | -€1,469 | -37.8% |
| Profit (loss) for the period | 9904 | €7,279 | -€6,328 | -€13,607 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,279 | -€6,328 | -€13,607 |
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 7 October 2026 via checked.be.