DEL TEAM: 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.
DEL TEAM
Largest movements
- Current investments -€200,000
down €200,000 (-40.0%), from €500,000 to €300,000
- Cash +€147,742
up €147,742 (+129%), from €114,943 to €262,686
mainly Current investments (+€200,000) and Trade debts (+€44,525)
- Receivables within one year +€69,607
up €69,607 (+112%), from €62,270 to €131,877
of which Trade receivables: +€57,078
- Stocks and contracts +€10,500
up €10,500 (+28.8%), from €36,450 to €46,950
- Trade debts +€44,525
up €44,525 (+137%), from €32,570 to €77,095
- Debts after one year -€31,714
down €31,714 (-100%), from €31,714 to €0
- Reserves +€17,191
up €17,191 (+8.2%), from €209,819 to €227,010
- Gross operating margin +€29,463
up €29,463 (+118%), from €24,957 to €54,420
- Taxes +€7,801
up €7,801, from €0 to €7,801
- Financial income +€2,989
up €2,989 (+59.3%), from €5,036 to €8,025
- Other operating charges +€1,918
up €1,918 (+55.3%), from €3,470 to €5,387
- Financial charges -€562
down €562 (-30.4%), from €1,849 to €1,287
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €914,181 | €945,036 | +€30,855 | +3.4% |
| Fixed assets | 21/28 | €197,763 | €201,052 | +€3,289 | +1.7% |
| Tangible fixed assets | 22/27 | €197,638 | €200,927 | +€3,289 | +1.7% |
| Land and buildings | 22 | €191,397 | €194,578 | +€3,181 | +1.7% |
| Plant, machinery and equipment | 23 | €5,905 | €4,227 | -€1,678 | -28.4% |
| Furniture and vehicles | 24 | €336 | €2,123 | +€1,787 | +532% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €716,418 | €743,984 | +€27,566 | +3.8% |
| Stocks and contracts in progress | 3 | €36,450 | €46,950 | +€10,500 | +28.8% |
| Stocks | 30/36 | €36,450 | €46,950 | +€10,500 | +28.8% |
| Amounts receivable within one year | 40/41 | €62,270 | €131,877 | +€69,607 | +112% |
| Trade receivables | 40 | €54,847 | €111,925 | +€57,078 | +104% |
| Other amounts receivable | 41 | €7,423 | €19,952 | +€12,529 | +169% |
| Current investments | 50/53 | €500,000 | €300,000 | -€200,000 | -40.0% |
| Cash at bank and in hand | 54/58 | €114,943 | €262,686 | +€147,742 | +129% |
| Deferred charges and accrued income | 490/1 | €2,754 | €2,471 | -€283 | -10.3% |
| Total equity and liabilities | 10/49 | €914,181 | €945,036 | +€30,855 | +3.4% |
| Equity | 10/15 | €797,819 | €815,010 | +€17,191 | +2.2% |
| Contributions | 10/11 | €588,000 | €588,000 | = | 0.0% |
| Reserves | 13 | €209,819 | €227,010 | +€17,191 | +8.2% |
| Distributable reserves | 133 | €209,819 | €227,010 | +€17,191 | +8.2% |
| Amounts payable | 17/49 | €116,362 | €130,026 | +€13,664 | +11.7% |
| Amounts payable after more than one year | 17 | €31,714 | €0 | -€31,714 | -100% |
| Financial debts | 170/4 | €31,714 | €0 | -€31,714 | -100% |
| Amounts payable within one year | 42/48 | €81,325 | €129,003 | +€47,678 | +58.6% |
| Current portion of amounts payable after more than one year | 42 | €33,913 | €34,339 | +€426 | +1.3% |
| Trade debts | 44 | €32,570 | €77,095 | +€44,525 | +137% |
| Suppliers | 440/4 | €32,570 | €77,095 | +€44,525 | +137% |
| Taxes, remuneration and social security | 45 | €2,797 | €5,168 | +€2,371 | +84.8% |
| Taxes | 450/3 | €2,797 | €4,195 | +€1,398 | +50.0% |
| Remuneration and social security | 454/9 | €0 | €973 | +€973 | |
| Other amounts payable | 47/48 | €12,044 | €12,400 | +€355 | +3.0% |
| Accrued charges and deferred income | 492/3 | €3,322 | €1,023 | -€2,299 | -69.2% |
| Non-recurring operating income | 76A | €0 | €413 | +€413 | |
| Remuneration, social security and pensions | 62 | €19,483 | €19,652 | +€170 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,554 | €11,128 | -€427 | -3.7% |
| Other operating charges | 640/8 | €3,470 | €5,387 | +€1,918 | +55.3% |
| Gross operating margin | 9900 | €24,957 | €54,420 | +€29,463 | +118% |
| Operating profit (loss) | 9901 | -€9,549 | €18,254 | +€27,803 | |
| Financial income | 75/76B | €5,036 | €8,025 | +€2,989 | +59.3% |
| Recurring financial income | 75 | €5,036 | €8,025 | +€2,989 | +59.3% |
| Financial charges | 65/66B | €1,849 | €1,287 | -€562 | -30.4% |
| Recurring financial charges | 65 | €1,849 | €1,287 | -€562 | -30.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,361 | €24,992 | +€31,353 | |
| Income taxes | 67/77 | €0 | €7,801 | +€7,801 | |
| Profit (loss) for the period | 9904 | -€6,361 | €17,191 | +€23,552 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,361 | €17,191 | +€23,552 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.