DELAN: 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.
DELAN
Largest movements
- Tangible fixed assets +€192,684
up €192,684 (+40.4%), from €476,801 to €669,485
of which Land and buildings: +€175,503
- Current investments -€63,888
down €63,888 (-99.8%), from €63,996 to €108
- Cash -€53,465
down €53,465 (-12.5%), from €428,266 to €374,801
mainly Investment in fixed assets (net) (-€266,491) and Accrued charges and deferred income (-€26,613)
- Receivables within one year -€42,305
down €42,305 (-84.0%), from €50,386 to €8,081
of which Trade receivables: -€32,293
- Reserves +€52,322
up €52,322 (+6.4%), from €821,147 to €873,469
of which Distributable reserves: +€52,322
- Accrued charges and deferred income -€26,613
no longer reported in 2025 (was €26,613)
- Gross operating margin +€44,674
up €44,674 (+38.5%), from €115,976 to €160,650
- Taxes +€14,938
up €14,938 (+155.5%), from €9,606 to €24,544
- Financial charges +€5,630
up €5,630 (+316.1%), from €1,781 to €7,411
- Depreciation +€4,969
up €4,969 (+7.2%), from €68,838 to €73,807
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 | €1,019,449 | €1,052,475 | +€33,026 | +3.2% |
| Fixed assets | 21/28 | €476,801 | €669,485 | +€192,684 | +40.4% |
| Tangible fixed assets | 22/27 | €476,801 | €669,485 | +€192,684 | +40.4% |
| Land and buildings | 22 | €457,928 | €633,431 | +€175,503 | +38.3% |
| Furniture and vehicles | 24 | €18,873 | €36,054 | +€17,181 | +91.0% |
| Current assets | 29/58 | €542,648 | €382,990 | -€159,658 | -29.4% |
| Amounts receivable within one year | 40/41 | €50,386 | €8,081 | -€42,305 | -84.0% |
| Trade receivables | 40 | €39,327 | €7,034 | -€32,293 | -82.1% |
| Other amounts receivable | 41 | €11,059 | €1,047 | -€10,012 | -90.5% |
| Current investments | 50/53 | €63,996 | €108 | -€63,888 | -99.8% |
| Cash at bank and in hand | 54/58 | €428,266 | €374,801 | -€53,465 | -12.5% |
| Total equity and liabilities | 10/49 | €1,019,449 | €1,052,475 | +€33,026 | +3.2% |
| Equity | 10/15 | €883,147 | €935,469 | +€52,322 | +5.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €821,147 | €873,469 | +€52,322 | +6.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €814,947 | €867,269 | +€52,322 | +6.4% |
| Amounts payable | 17/49 | €136,302 | €117,006 | -€19,296 | -14.2% |
| Amounts payable within one year | 42/48 | €109,689 | €117,006 | +€7,317 | +6.7% |
| Trade debts | 44 | €8,133 | €14,882 | +€6,749 | +83.0% |
| Suppliers | 440/4 | €8,133 | €14,882 | +€6,749 | +83.0% |
| Taxes, remuneration and social security | 45 | €467 | €2,124 | +€1,657 | +354.8% |
| Taxes | 450/3 | €467 | €2,124 | +€1,657 | +354.8% |
| Other amounts payable | 47/48 | €101,089 | €100,000 | -€1,089 | -1.1% |
| Accrued charges and deferred income | 492/3 | €26,613 | - | -€26,613 | |
| Non-recurring operating income | 76A | - | €105,627 | +€105,627 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,838 | €73,807 | +€4,969 | +7.2% |
| Other operating charges | 640/8 | €2,673 | €2,869 | +€196 | +7.3% |
| Gross operating margin | 9900 | €115,976 | €160,650 | +€44,674 | +38.5% |
| Operating profit (loss) | 9901 | €44,465 | €83,974 | +€39,509 | +88.9% |
| Financial income | 75/76B | €550 | €303 | -€247 | -44.9% |
| Recurring financial income | 75 | €550 | €303 | -€247 | -44.9% |
| Financial charges | 65/66B | €1,781 | €7,411 | +€5,630 | +316.1% |
| Recurring financial charges | 65 | €1,781 | €7,411 | +€5,630 | +316.1% |
| Profit (loss) for the period before taxes | 9903 | €43,234 | €76,866 | +€33,632 | +77.8% |
| Income taxes | 67/77 | €9,606 | €24,544 | +€14,938 | +155.5% |
| Profit (loss) for the period | 9904 | €33,628 | €52,322 | +€18,694 | +55.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,628 | €52,322 | +€18,694 | +55.6% |
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 5 October 2026 via checked.be.