DELAEY PHILIPPE: 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 PHILIPPE
Largest movements
- Cash +€29,512
up €29,512 (+77.3%), from €38,163 to €67,675
mainly Net result for the year (+€18,899) and Deferred charges and accrued income (+€13,707)
- Deferred charges and accrued income -€13,707
down €13,707 (-93.6%), from €14,650 to €943
- Tangible fixed assets +€1,060
up €1,060 (+14.9%), from €7,106 to €8,166
of which Plant, machinery and equipment: +€1,530
- Profit (loss) carried forward +€18,899
up €18,899 (+41.4%), from €45,696 to €64,594
- Trade debts -€6,357
down €6,357 (-85.4%), from €7,442 to €1,085
- Tax, wage and social debts +€3,514
up €3,514 (+233%), from €1,510 to €5,024
- Gross operating margin -€32,508
down €32,508 (-56.0%), from €58,072 to €25,564
- Taxes -€6,486
down €6,486 (-56.3%), from €11,510 to €5,024
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 | €60,133 | €76,898 | +€16,765 | +27.9% |
| Fixed assets | 21/28 | €7,106 | €8,166 | +€1,060 | +14.9% |
| Tangible fixed assets | 22/27 | €7,106 | €8,166 | +€1,060 | +14.9% |
| Plant, machinery and equipment | 23 | €5,820 | €7,350 | +€1,530 | +26.3% |
| Furniture and vehicles | 24 | €1,286 | €816 | -€470 | -36.5% |
| Current assets | 29/58 | €53,027 | €68,732 | +€15,705 | +29.6% |
| Amounts receivable within one year | 40/41 | €214 | €114 | -€100 | -46.7% |
| Trade receivables | 40 | €159 | €59 | -€100 | -62.9% |
| Other amounts receivable | 41 | €55 | €55 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,163 | €67,675 | +€29,512 | +77.3% |
| Deferred charges and accrued income | 490/1 | €14,650 | €943 | -€13,707 | -93.6% |
| Total equity and liabilities | 10/49 | €60,133 | €76,898 | +€16,765 | +27.9% |
| Equity | 10/15 | €50,696 | €69,594 | +€18,899 | +37.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,696 | €64,594 | +€18,899 | +41.4% |
| Amounts payable | 17/49 | €9,437 | €7,304 | -€2,134 | -22.6% |
| Amounts payable within one year | 42/48 | €9,337 | €7,166 | -€2,172 | -23.3% |
| Trade debts | 44 | €7,442 | €1,085 | -€6,357 | -85.4% |
| Suppliers | 440/4 | €7,442 | €1,085 | -€6,357 | -85.4% |
| Taxes, remuneration and social security | 45 | €1,510 | €5,024 | +€3,514 | +233% |
| Taxes | 450/3 | €1,510 | €5,024 | +€3,514 | +233% |
| Other amounts payable | 47/48 | €386 | €1,056 | +€670 | +174% |
| Accrued charges and deferred income | 492/3 | €100 | €138 | +€38 | +38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €766 | €1,124 | +€358 | +46.8% |
| Other operating charges | 640/8 | €101 | €186 | +€85 | +83.9% |
| Gross operating margin | 9900 | €58,072 | €25,564 | -€32,508 | -56.0% |
| Operating profit (loss) | 9901 | €57,205 | €24,254 | -€32,951 | -57.6% |
| Financial charges | 65/66B | - | €332 | +€332 | |
| Recurring financial charges | 65 | - | €332 | +€332 | |
| Profit (loss) for the period before taxes | 9903 | €57,205 | €23,923 | -€33,283 | -58.2% |
| Income taxes | 67/77 | €11,510 | €5,024 | -€6,486 | -56.3% |
| Profit (loss) for the period | 9904 | €45,696 | €18,899 | -€26,797 | -58.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,696 | €18,899 | -€26,797 | -58.6% |
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 18 October 2026 via checked.be.