DEL VAL: 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 VAL
Largest movements
- Tangible fixed assets -€17,189
down €17,189 (-9.6%), from €178,160 to €160,971
of which Land and buildings: -€14,986
- Reserves -€11,544
down €11,544 (-5.3%), from €218,302 to €206,757
of which Distributable reserves: -€11,544
- Other debts -€4,484
down €4,484 (-49.9%), from €8,992 to €4,508
- Gross operating margin -€25,925
down €25,925 (-72.9%), from €35,547 to €9,622
- Taxes -€3,257
down €3,257 (-100.0%), from €3,257 to €0
- Financial income +€991
up €991, from €0 to €991
of which Non-recurring financial income: +€705
- Staff costs -€474
down €474 (-100.0%), from €474 to €0
- Other operating charges +€449
up €449 (+10.0%), from €4,489 to €4,938
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 | €292,635 | €274,459 | -€18,175 | -6.2% |
| Fixed assets | 21/28 | €178,160 | €160,971 | -€17,189 | -9.6% |
| Tangible fixed assets | 22/27 | €178,160 | €160,971 | -€17,189 | -9.6% |
| Land and buildings | 22 | €159,432 | €144,447 | -€14,986 | -9.4% |
| Plant, machinery and equipment | 23 | €18,728 | €16,525 | -€2,203 | -11.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €114,474 | €113,488 | -€986 | -0.9% |
| Amounts receivable within one year | 40/41 | €9,218 | €9,951 | +€733 | +8.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €9,218 | €9,951 | +€733 | +8.0% |
| Cash at bank and in hand | 54/58 | €101,331 | €100,020 | -€1,311 | -1.3% |
| Deferred charges and accrued income | 490/1 | €3,925 | €3,517 | -€408 | -10.4% |
| Total equity and liabilities | 10/49 | €292,635 | €274,459 | -€18,175 | -6.2% |
| Equity | 10/15 | €280,302 | €268,757 | -€11,544 | -4.1% |
| 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 | €218,302 | €206,757 | -€11,544 | -5.3% |
| Non-distributable reserves | 130/1 | €25,100 | €25,100 | = | 0.0% |
| Legal reserve | 130 | €25,100 | €25,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,800 | €6,800 | = | 0.0% |
| Distributable reserves | 133 | €186,402 | €174,857 | -€11,544 | -6.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €12,333 | €5,702 | -€6,631 | -53.8% |
| Amounts payable within one year | 42/48 | €12,333 | €5,702 | -€6,631 | -53.8% |
| Trade debts | 44 | €3,331 | €620 | -€2,711 | -81.4% |
| Suppliers | 440/4 | €3,331 | €620 | -€2,711 | -81.4% |
| Taxes, remuneration and social security | 45 | €10 | €574 | +€564 | +5643.3% |
| Taxes | 450/3 | €10 | €574 | +€564 | +5643.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €8,992 | €4,508 | -€4,484 | -49.9% |
| Non-recurring operating income | 76A | €17,415 | €0 | -€17,415 | -100.0% |
| Remuneration, social security and pensions | 62 | €474 | €0 | -€474 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,491 | €17,189 | -€302 | -1.7% |
| Other operating charges | 640/8 | €4,489 | €4,938 | +€449 | +10.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €35,547 | €9,622 | -€25,925 | -72.9% |
| Operating profit (loss) | 9901 | €13,092 | -€12,505 | -€25,597 | |
| Financial income | 75/76B | €0 | €991 | +€991 | |
| Recurring financial income | 75 | €0 | €285 | +€285 | |
| Non-recurring financial income | 76B | - | €705 | +€705 | |
| Financial charges | 65/66B | €137 | €30 | -€107 | -78.0% |
| Recurring financial charges | 65 | €32 | €30 | -€2 | -6.3% |
| Non-recurring financial charges | 66B | €105 | €0 | -€105 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €12,955 | -€11,544 | -€24,500 | |
| Income taxes | 67/77 | €3,257 | €0 | -€3,257 | -100.0% |
| Profit (loss) for the period | 9904 | €9,699 | -€11,544 | -€21,243 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,699 | -€11,544 | -€21,243 |
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 5 October 2026 via checked.be.