DELAIVE: 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.
DELAIVE
Largest movements
- Tangible fixed assets +€206,672
up €206,672 (+37.7%), from €547,709 to €754,381
of which Furniture and vehicles: +€335,803
- Cash -€117,603
down €117,603 (-47.1%), from €249,862 to €132,258
mainly Investment in fixed assets (net) (-€323,656) and Contributions, distributions and other (-€190,164)
- Stocks and contracts +€92,161
up €92,161 (+252.0%), from €36,571 to €128,732
- Receivables within one year -€76,675
down €76,675 (-18.9%), from €406,541 to €329,867
of which Trade receivables: -€79,457
- Reserves +€122,035
up €122,035 (+24.5%), from €497,627 to €619,662
of which Distributable reserves: +€123,000
- Trade debts -€121,058
down €121,058 (-38.2%), from €316,580 to €195,522
- Debts after one year +€81,189
up €81,189 (+40.9%), from €198,351 to €279,540
- Other debts +€75,041
up €75,041 (+500.3%), from €15,000 to €90,041
- Profit (loss) carried forward -€46,674
down €46,674 (-89.9%), from €51,944 to €5,270
- Gross operating margin +€198,722
up €198,722 (+62.7%), from €316,699 to €515,420
- Depreciation +€33,982
up €33,982 (+40.9%), from €83,002 to €116,984
- Taxes +€24,700
up €24,700 (+39.2%), from €63,032 to €87,732
- Other operating charges +€6,609
up €6,609 (+158.3%), from €4,175 to €10,784
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 | €1,241,420 | €1,346,222 | +€104,802 | +8.4% |
| Fixed assets | 21/28 | €547,709 | €754,381 | +€206,672 | +37.7% |
| Tangible fixed assets | 22/27 | €547,709 | €754,381 | +€206,672 | +37.7% |
| Land and buildings | 22 | €110,614 | €108,273 | -€2,341 | -2.1% |
| Plant, machinery and equipment | 23 | €306,116 | €179,327 | -€126,789 | -41.4% |
| Furniture and vehicles | 24 | €130,978 | €466,781 | +€335,803 | +256.4% |
| Current assets | 29/58 | €693,711 | €591,841 | -€101,870 | -14.7% |
| Stocks and contracts in progress | 3 | €36,571 | €128,732 | +€92,161 | +252.0% |
| Stocks | 30/36 | €36,571 | €128,732 | +€92,161 | +252.0% |
| Amounts receivable within one year | 40/41 | €406,541 | €329,867 | -€76,675 | -18.9% |
| Trade receivables | 40 | €403,578 | €324,121 | -€79,457 | -19.7% |
| Other amounts receivable | 41 | €2,963 | €5,745 | +€2,782 | +93.9% |
| Cash at bank and in hand | 54/58 | €249,862 | €132,258 | -€117,603 | -47.1% |
| Deferred charges and accrued income | 490/1 | €738 | €984 | +€246 | +33.4% |
| Total equity and liabilities | 10/49 | €1,241,420 | €1,346,222 | +€104,802 | +8.4% |
| Equity | 10/15 | €578,220 | €650,417 | +€72,197 | +12.5% |
| Contributions | 10/11 | €18,840 | €18,840 | = | 0.0% |
| Reserves | 13 | €497,627 | €619,662 | +€122,035 | +24.5% |
| Non-distributable reserves | 130/1 | €1,884 | €1,884 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,884 | €1,884 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,743 | €2,778 | -€965 | -25.8% |
| Distributable reserves | 133 | €492,000 | €615,000 | +€123,000 | +25.0% |
| Profit (loss) carried forward | 14 | €51,944 | €5,270 | -€46,674 | -89.9% |
| Investment grants | 15 | €9,810 | €6,645 | -€3,164 | -32.3% |
| Provisions and deferred taxes | 16 | €1,248 | €926 | -€322 | -25.8% |
| Deferred taxes | 168 | €1,248 | €926 | -€322 | -25.8% |
| Amounts payable | 17/49 | €661,953 | €694,879 | +€32,926 | +5.0% |
| Amounts payable after more than one year | 17 | €198,351 | €279,540 | +€81,189 | +40.9% |
| Financial debts | 170/4 | €198,351 | €279,540 | +€81,189 | +40.9% |
| Amounts payable within one year | 42/48 | €463,500 | €415,339 | -€48,161 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €65,956 | €68,811 | +€2,855 | +4.3% |
| Trade debts | 44 | €316,580 | €195,522 | -€121,058 | -38.2% |
| Suppliers | 440/4 | €316,580 | €195,522 | -€121,058 | -38.2% |
| Taxes, remuneration and social security | 45 | €65,963 | €60,965 | -€4,998 | -7.6% |
| Taxes | 450/3 | €60,655 | €55,211 | -€5,444 | -9.0% |
| Remuneration and social security | 454/9 | €5,308 | €5,754 | +€446 | +8.4% |
| Other amounts payable | 47/48 | €15,000 | €90,041 | +€75,041 | +500.3% |
| Accrued charges and deferred income | 492/3 | €102 | - | -€102 | |
| Remuneration, social security and pensions | 62 | €34,312 | €36,413 | +€2,101 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,002 | €116,984 | +€33,982 | +40.9% |
| Other operating charges | 640/8 | €4,175 | €10,784 | +€6,609 | +158.3% |
| Gross operating margin | 9900 | €316,699 | €515,420 | +€198,722 | +62.7% |
| Operating profit (loss) | 9901 | €195,209 | €351,239 | +€156,030 | +79.9% |
| Financial income | 75/76B | €3,684 | €3,164 | -€520 | -14.1% |
| Recurring financial income | 75 | €3,684 | €3,164 | -€520 | -14.1% |
| Financial charges | 65/66B | €5,858 | €4,631 | -€1,227 | -20.9% |
| Recurring financial charges | 65 | €5,858 | €4,631 | -€1,227 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €193,035 | €349,772 | +€156,737 | +81.2% |
| Transfer from deferred taxes | 780 | €322 | €322 | = | 0.0% |
| Income taxes | 67/77 | €63,032 | €87,732 | +€24,700 | +39.2% |
| Profit (loss) for the period | 9904 | €130,325 | €262,361 | +€132,037 | +101.3% |
| Transfer from tax-exempt reserves | 789 | €965 | €965 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €131,289 | €263,326 | +€132,037 | +100.6% |
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 3 October 2026 via checked.be.