DELAHAYE: 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.
DELAHAYE
Largest movements
- Tangible fixed assets -€12,231
down €12,231 (-5.6%), from €218,006 to €205,775
of which Plant, machinery and equipment: -€9,130
- Cash +€11,735
up €11,735 (+104%), from €11,322 to €23,057
mainly Net result for the year (+€40,325) and Depreciation (+€15,906)
- Receivables within one year +€8,892
up €8,892 (+44.5%), from €20,001 to €28,894
of which Trade receivables: +€7,965
- Stocks and contracts +€5,477
up €5,477 (+76.6%), from €7,150 to €12,626
- Profit (loss) carried forward +€36,627
no longer reported in 2025 (was -€36,627)
- Debts after one year -€16,638
down €16,638 (-17.7%), from €93,743 to €77,105
- Reserves +€2,866
up €2,866 (+3.9%), from €73,264 to €76,130
of which Distributable reserves: +€5,433
- Gross operating margin +€27,076
up €27,076 (+28.5%), from €94,871 to €121,947
- Staff costs +€1,857
up €1,857 (+3.6%), from €51,979 to €53,837
- Financial charges +€1,317
up €1,317 (+16.2%), from €8,119 to €9,435
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 | €257,995 | €271,772 | +€13,777 | +5.3% |
| Fixed assets | 21/28 | €218,006 | €205,775 | -€12,231 | -5.6% |
| Tangible fixed assets | 22/27 | €218,006 | €205,775 | -€12,231 | -5.6% |
| Land and buildings | 22 | €180,142 | €173,884 | -€6,258 | -3.5% |
| Plant, machinery and equipment | 23 | €35,916 | €26,786 | -€9,130 | -25.4% |
| Furniture and vehicles | 24 | €1,948 | €5,106 | +€3,158 | +162% |
| Current assets | 29/58 | €39,989 | €65,997 | +€26,007 | +65.0% |
| Stocks and contracts in progress | 3 | €7,150 | €12,626 | +€5,477 | +76.6% |
| Stocks | 30/36 | €7,150 | €12,626 | +€5,477 | +76.6% |
| Amounts receivable within one year | 40/41 | €20,001 | €28,894 | +€8,892 | +44.5% |
| Trade receivables | 40 | €5,279 | €13,244 | +€7,965 | +151% |
| Other amounts receivable | 41 | €14,722 | €15,650 | +€928 | +6.3% |
| Current investments | 50/53 | €3 | €3 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,322 | €23,057 | +€11,735 | +104% |
| Deferred charges and accrued income | 490/1 | €1,514 | €1,417 | -€97 | -6.4% |
| Total equity and liabilities | 10/49 | €257,995 | €271,772 | +€13,777 | +5.3% |
| Equity | 10/15 | €49,038 | €88,530 | +€39,492 | +80.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €73,264 | €76,130 | +€2,866 | +3.9% |
| Tax-exempt reserves | 132 | €71,404 | €68,838 | -€2,567 | -3.6% |
| Distributable reserves | 133 | €1,860 | €7,293 | +€5,433 | +292% |
| Profit (loss) carried forward | 14 | -€36,627 | - | +€36,627 | |
| Provisions and deferred taxes | 16 | €36,784 | €35,462 | -€1,322 | -3.6% |
| Deferred taxes | 168 | €36,784 | €35,462 | -€1,322 | -3.6% |
| Amounts payable | 17/49 | €172,173 | €147,780 | -€24,393 | -14.2% |
| Amounts payable after more than one year | 17 | €93,743 | €77,105 | -€16,638 | -17.7% |
| Financial debts | 170/4 | €93,743 | €77,105 | -€16,638 | -17.7% |
| Amounts payable within one year | 42/48 | €78,430 | €70,675 | -€7,756 | -9.9% |
| Current portion of amounts payable after more than one year | 42 | €17,809 | €16,638 | -€1,171 | -6.6% |
| Trade debts | 44 | €2,603 | €281 | -€2,322 | -89.2% |
| Suppliers | 440/4 | €2,603 | €281 | -€2,322 | -89.2% |
| Advances received on contracts in progress | 46 | €3,921 | €2,770 | -€1,152 | -29.4% |
| Taxes, remuneration and social security | 45 | €10,044 | €7,740 | -€2,304 | -22.9% |
| Taxes | 450/3 | €2,358 | €1,391 | -€967 | -41.0% |
| Remuneration and social security | 454/9 | €7,687 | €6,349 | -€1,337 | -17.4% |
| Other amounts payable | 47/48 | €44,053 | €43,246 | -€807 | -1.8% |
| Non-recurring operating income | 76A | €2,479 | - | -€2,479 | |
| Remuneration, social security and pensions | 62 | €51,979 | €53,837 | +€1,857 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,761 | €15,906 | -€856 | -5.1% |
| Other operating charges | 640/8 | €2,922 | €3,090 | +€167 | +5.7% |
| Gross operating margin | 9900 | €94,871 | €121,947 | +€27,076 | +28.5% |
| Operating profit (loss) | 9901 | €23,208 | €49,114 | +€25,907 | +112% |
| Financial income | 75/76B | €21 | €109 | +€88 | +409% |
| Recurring financial income | 75 | €21 | €109 | +€88 | +409% |
| Financial charges | 65/66B | €8,119 | €9,435 | +€1,317 | +16.2% |
| Recurring financial charges | 65 | €8,119 | €9,435 | +€1,317 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €15,111 | €39,788 | +€24,677 | +163% |
| Transfer from deferred taxes | 780 | €1,322 | €1,322 | = | 0.0% |
| Income taxes | 67/77 | €231 | €785 | +€554 | +240% |
| Profit (loss) for the period | 9904 | €16,202 | €40,325 | +€24,124 | +149% |
| Transfer from tax-exempt reserves | 789 | €2,567 | €2,567 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,769 | €42,892 | +€24,124 | +129% |
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 24 October 2026 via checked.be.