DELAEY: 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.
DELAEY
Largest movements
- Cash +€460,685
up €460,685 (+1425.1%), from €32,326 to €493,010
mainly Current investments (+€300,000) and Net result for the year (+€107,566)
- Current investments -€300,000
down €300,000 (-100.0%), from €300,000 to €0
- Tangible fixed assets -€24,171
down €24,171 (-14.8%), from €163,339 to €139,168
of which Land and buildings: -€14,466
- Receivables within one year -€7,302
down €7,302 (-89.7%), from €8,138 to €836
of which Trade receivables: -€5,420
- Reserves +€107,566
up €107,566 (+136.2%), from €78,982 to €186,548
- Gross operating margin +€70,140
up €70,140 (+50.5%), from €138,880 to €209,020
- Taxes +€21,674
up €21,674 (+73.6%), from €29,452 to €51,126
- Financial charges +€9,027
up €9,027 (+125.1%), from €7,218 to €16,245
- Financial income +€6,215
up €6,215 (+1053.3%), from €590 to €6,805
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 | €503,803 | €633,265 | +€129,462 | +25.7% |
| Fixed assets | 21/28 | €163,339 | €139,168 | -€24,171 | -14.8% |
| Tangible fixed assets | 22/27 | €163,339 | €139,168 | -€24,171 | -14.8% |
| Land and buildings | 22 | €137,648 | €123,182 | -€14,466 | -10.5% |
| Plant, machinery and equipment | 23 | €24,983 | €15,910 | -€9,073 | -36.3% |
| Furniture and vehicles | 24 | €707 | €76 | -€631 | -89.2% |
| Current assets | 29/58 | €340,464 | €494,097 | +€153,633 | +45.1% |
| Amounts receivable within one year | 40/41 | €8,138 | €836 | -€7,302 | -89.7% |
| Trade receivables | 40 | €5,420 | €0 | -€5,420 | -100.0% |
| Other amounts receivable | 41 | €2,718 | €836 | -€1,882 | -69.2% |
| Current investments | 50/53 | €300,000 | €0 | -€300,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €32,326 | €493,010 | +€460,685 | +1425.1% |
| Deferred charges and accrued income | 490/1 | €0 | €250 | +€250 | |
| Total equity and liabilities | 10/49 | €503,803 | €633,265 | +€129,462 | +25.7% |
| Equity | 10/15 | €275,582 | €383,148 | +€107,566 | +39.0% |
| Contributions | 10/11 | €196,600 | €196,600 | = | 0.0% |
| Reserves | 13 | €78,982 | €186,548 | +€107,566 | +136.2% |
| Distributable reserves | 133 | €78,982 | €186,548 | +€107,566 | +136.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €228,221 | €250,117 | +€21,896 | +9.6% |
| Amounts payable within one year | 42/48 | €222,977 | €239,030 | +€16,053 | +7.2% |
| Trade debts | 44 | €13,328 | €19,160 | +€5,832 | +43.8% |
| Suppliers | 440/4 | €13,328 | €19,160 | +€5,832 | +43.8% |
| Taxes, remuneration and social security | 45 | €6,547 | €12,069 | +€5,522 | +84.3% |
| Taxes | 450/3 | €4,866 | €10,336 | +€5,470 | +112.4% |
| Remuneration and social security | 454/9 | €1,681 | €1,733 | +€52 | +3.1% |
| Other amounts payable | 47/48 | €203,102 | €207,801 | +€4,699 | +2.3% |
| Accrued charges and deferred income | 492/3 | €5,244 | €11,087 | +€5,843 | +111.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,096 | €29,627 | +€531 | +1.8% |
| Other operating charges | 640/8 | €11,351 | €11,261 | -€91 | -0.8% |
| Gross operating margin | 9900 | €138,880 | €209,020 | +€70,140 | +50.5% |
| Operating profit (loss) | 9901 | €98,433 | €168,133 | +€69,700 | +70.8% |
| Financial income | 75/76B | €590 | €6,805 | +€6,215 | +1053.3% |
| Recurring financial income | 75 | €590 | €6,805 | +€6,215 | +1053.3% |
| Financial charges | 65/66B | €7,218 | €16,245 | +€9,027 | +125.1% |
| Recurring financial charges | 65 | €7,218 | €16,245 | +€9,027 | +125.1% |
| Profit (loss) for the period before taxes | 9903 | €91,805 | €158,693 | +€66,887 | +72.9% |
| Income taxes | 67/77 | €29,452 | €51,126 | +€21,674 | +73.6% |
| Profit (loss) for the period | 9904 | €62,353 | €107,566 | +€45,213 | +72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €62,353 | €107,566 | +€45,213 | +72.5% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.