DELAMO: 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.
DELAMO
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+32.4%), from €3.3m to €4.4m
of which Assets under construction and advance payments: +€1.1m
- Cash +€68,726
up €68,726 (+61.8%), from €111,214 to €179,940
mainly Debts after one year (+€962,086) and Net result for the year (+€165,042)
- Debts after one year +€962,086
up €962,086 (+184%), from €522,731 to €1.5m
of which Financial debts: +€962,086
- Reserves +€165,042
up €165,042 (+9.6%), from €1.7m to €1.9m
of which Distributable reserves: +€165,042
- Gross operating margin +€52,964
up €52,964 (+19.0%), from €278,668 to €331,633
- Financial charges +€24,561
up €24,561 (+120%), from €20,400 to €44,961
- Taxes +€6,608
up €6,608 (+11.1%), from €59,596 to €66,204
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 | €3,470,460 | €4,633,336 | +€1.2m | +33.5% |
| Fixed assets | 21/28 | €3,320,691 | €4,397,434 | +€1.1m | +32.4% |
| Tangible fixed assets | 22/27 | €3,320,691 | €4,397,434 | +€1.1m | +32.4% |
| Land and buildings | 22 | €3,300,411 | €3,260,997 | -€39,414 | -1.2% |
| Assets under construction and advance payments | 27 | €20,281 | €1,136,437 | +€1.1m | +5,504% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €149,769 | €235,903 | +€86,134 | +57.5% |
| Amounts receivable within one year | 40/41 | €35,480 | €52,864 | +€17,384 | +49.0% |
| Trade receivables | 40 | €1,246 | €7,906 | +€6,660 | +534% |
| Other amounts receivable | 41 | €34,234 | €44,958 | +€10,724 | +31.3% |
| Cash at bank and in hand | 54/58 | €111,214 | €179,940 | +€68,726 | +61.8% |
| Deferred charges and accrued income | 490/1 | €3,075 | €3,098 | +€23 | +0.8% |
| Total equity and liabilities | 10/49 | €3,470,460 | €4,633,336 | +€1.2m | +33.5% |
| Equity | 10/15 | €1,778,772 | €1,943,814 | +€165,042 | +9.3% |
| Contributions | 10/11 | €64,452 | €64,452 | = | 0.0% |
| Capital | 10 | €64,452 | €64,452 | = | 0.0% |
| Issued capital | 100 | €64,452 | €64,452 | = | 0.0% |
| Reserves | 13 | €1,714,320 | €1,879,362 | +€165,042 | +9.6% |
| Non-distributable reserves | 130/1 | €6,445 | €6,445 | = | 0.0% |
| Legal reserve | 130 | €6,445 | €6,445 | = | 0.0% |
| Distributable reserves | 133 | €1,707,875 | €1,872,916 | +€165,042 | +9.7% |
| Amounts payable | 17/49 | €1,691,688 | €2,689,522 | +€997,835 | +59.0% |
| Amounts payable after more than one year | 17 | €522,731 | €1,484,817 | +€962,086 | +184% |
| Financial debts | 170/4 | €514,719 | €1,476,805 | +€962,086 | +187% |
| Other amounts payable | 178/9 | €8,012 | €8,012 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,168,957 | €1,204,706 | +€35,748 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €211,265 | €218,110 | +€6,844 | +3.2% |
| Trade debts | 44 | €39,650 | €49,528 | +€9,878 | +24.9% |
| Suppliers | 440/4 | €39,650 | €49,528 | +€9,878 | +24.9% |
| Taxes, remuneration and social security | 45 | €17,030 | €18,556 | +€1,526 | +9.0% |
| Taxes | 450/3 | €17,030 | €18,556 | +€1,526 | +9.0% |
| Other amounts payable | 47/48 | €901,011 | €918,511 | +€17,500 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,414 | €39,414 | = | 0.0% |
| Other operating charges | 640/8 | €14,837 | €16,012 | +€1,175 | +7.9% |
| Gross operating margin | 9900 | €278,668 | €331,633 | +€52,964 | +19.0% |
| Operating profit (loss) | 9901 | €224,417 | €276,207 | +€51,789 | +23.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -91.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -91.5% |
| Financial charges | 65/66B | €20,400 | €44,961 | +€24,561 | +120% |
| Recurring financial charges | 65 | €20,400 | €44,961 | +€24,561 | +120% |
| Profit (loss) for the period before taxes | 9903 | €204,018 | €231,246 | +€27,228 | +13.3% |
| Income taxes | 67/77 | €59,596 | €66,204 | +€6,608 | +11.1% |
| Profit (loss) for the period | 9904 | €144,422 | €165,042 | +€20,620 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €144,422 | €165,042 | +€20,620 | +14.3% |
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 13 October 2026 via checked.be.