DELAERE PROJECTS: 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.
DELAERE PROJECTS
Largest movements
- Tangible fixed assets -€19,597
down €19,597 (-3.6%), from €544,083 to €524,486
- Receivables within one year +€8,302
up €8,302 (+1572.3%), from €528 to €8,830
of which Trade receivables: +€8,302
- Stocks and contracts -€6,624
down €6,624 (-93.0%), from €7,124 to €500
- Other debts +€38,241
up €38,241 (+27.6%), from €138,585 to €176,826
- Debts after one year -€35,716
down €35,716 (-6.9%), from €514,241 to €478,525
- Profit (loss) carried forward -€16,440
down €16,440 (-10.0%), from -€163,694 to -€180,134
- Gross operating margin +€28,165
up €28,165, from -€5,944 to €22,222
- Write-downs +€6,624
new in 2025: €6,624
- Depreciation -€4,109
down €4,109 (-20.0%), from €20,585 to €16,475
- Financial charges -€1,482
down €1,482 (-14.4%), from €10,279 to €8,797
- Other operating charges -€1,063
down €1,063 (-14.9%), from €7,123 to €6,061
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 | €554,293 | €536,647 | -€17,646 | -3.2% |
| Fixed assets | 21/28 | €544,083 | €524,486 | -€19,597 | -3.6% |
| Tangible fixed assets | 22/27 | €544,083 | €524,486 | -€19,597 | -3.6% |
| Land and buildings | 22 | €521,683 | €512,464 | -€9,218 | -1.8% |
| Plant, machinery and equipment | 23 | €3,017 | €1,129 | -€1,888 | -62.6% |
| Furniture and vehicles | 24 | €19,383 | €10,892 | -€8,491 | -43.8% |
| Current assets | 29/58 | €10,210 | €12,161 | +€1,951 | +19.1% |
| Stocks and contracts in progress | 3 | €7,124 | €500 | -€6,624 | -93.0% |
| Stocks | 30/36 | €7,124 | €500 | -€6,624 | -93.0% |
| Amounts receivable within one year | 40/41 | €528 | €8,830 | +€8,302 | +1572.3% |
| Trade receivables | 40 | €350 | €8,652 | +€8,302 | +2371.9% |
| Other amounts receivable | 41 | €178 | €178 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,390 | €1,904 | -€486 | -20.3% |
| Deferred charges and accrued income | 490/1 | €168 | €928 | +€760 | +452.5% |
| Total equity and liabilities | 10/49 | €554,293 | €536,647 | -€17,646 | -3.2% |
| Equity | 10/15 | -€158,694 | -€175,134 | -€16,440 | -10.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€163,694 | -€180,134 | -€16,440 | -10.0% |
| Amounts payable | 17/49 | €712,987 | €711,781 | -€1,206 | -0.2% |
| Amounts payable after more than one year | 17 | €514,241 | €478,525 | -€35,716 | -6.9% |
| Financial debts | 170/4 | €514,241 | €478,525 | -€35,716 | -6.9% |
| Amounts payable within one year | 42/48 | €193,113 | €231,371 | +€38,258 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €47,324 | €45,716 | -€1,608 | -3.4% |
| Trade debts | 44 | €3,955 | €8,776 | +€4,821 | +121.9% |
| Suppliers | 440/4 | €3,955 | €8,776 | +€4,821 | +121.9% |
| Advances received on contracts in progress | 46 | - | €53 | +€53 | |
| Taxes, remuneration and social security | 45 | €3,248 | - | -€3,248 | |
| Taxes | 450/3 | €3,248 | - | -€3,248 | |
| Other amounts payable | 47/48 | €138,585 | €176,826 | +€38,241 | +27.6% |
| Accrued charges and deferred income | 492/3 | €5,634 | €1,885 | -€3,748 | -66.5% |
| Non-recurring operating income | 76A | - | €4,593 | +€4,593 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,585 | €16,475 | -€4,109 | -20.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,624 | +€6,624 | |
| Other operating charges | 640/8 | €7,123 | €6,061 | -€1,063 | -14.9% |
| Non-recurring operating charges | 66A | - | €705 | +€705 | |
| Gross operating margin | 9900 | -€5,944 | €22,222 | +€28,165 | |
| Operating profit (loss) | 9901 | -€33,651 | -€7,643 | +€26,008 | +77.3% |
| Financial income | 75/76B | €22 | - | -€22 | |
| Recurring financial income | 75 | €22 | - | -€22 | |
| Financial charges | 65/66B | €10,279 | €8,797 | -€1,482 | -14.4% |
| Recurring financial charges | 65 | €10,279 | €8,797 | -€1,482 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | -€43,908 | -€16,440 | +€27,468 | +62.6% |
| Profit (loss) for the period | 9904 | -€43,908 | -€16,440 | +€27,468 | +62.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,908 | -€16,440 | +€27,468 | +62.6% |
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 9 October 2026 via checked.be.