DELANCKER F.: 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.
DELANCKER F.
Largest movements
- Stocks and contracts +€552,403
up €552,403 (+24.2%), from €2.3m to €2.8m
- Cash -€80,562
down €80,562 (-89.0%), from €90,488 to €9,926
mainly Other debts (-€1.1m) and Stocks and contracts (-€552,403)
- Tangible fixed assets -€44,694
down €44,694 (-3.3%), from €1.4m to €1.3m
of which Land and buildings: -€36,721
- Debts after one year +€1.5m
new in 2025: €1.5m
- Other debts -€1.1m
down €1.1m (-66.5%), from €1.7m to €553,662
- Short-term financial debts +€400,000
new in 2025: €400,000
- Current portion of long-term debt -€241,002
down €241,002 (-74.1%), from €325,338 to €84,336
- Profit (loss) carried forward -€125,805
down €125,805 (-121%), from -€104,114 to -€229,920
- Financial charges +€40,554
up €40,554 (+49.3%), from €82,193 to €122,747
- Gross operating margin +€20,043
up €20,043 (+81.6%), from €24,549 to €44,592
- Other operating charges +€8,116
up €8,116 (+207%), from €3,913 to €12,029
- Depreciation -€6,930
down €6,930 (-16.3%), from €42,589 to €35,658
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 | €3,854,847 | €4,279,700 | +€424,853 | +11.0% |
| Fixed assets | 21/28 | €1,472,885 | €1,428,191 | -€44,694 | -3.0% |
| Tangible fixed assets | 22/27 | €1,362,370 | €1,317,676 | -€44,694 | -3.3% |
| Land and buildings | 22 | €1,342,886 | €1,306,165 | -€36,721 | -2.7% |
| Plant, machinery and equipment | 23 | €3,483 | €2,977 | -€506 | -14.5% |
| Furniture and vehicles | 24 | €16,001 | €8,534 | -€7,467 | -46.7% |
| Financial fixed assets | 28 | €110,515 | €110,515 | = | 0.0% |
| Current assets | 29/58 | €2,381,962 | €2,851,508 | +€469,547 | +19.7% |
| Stocks and contracts in progress | 3 | €2,281,100 | €2,833,503 | +€552,403 | +24.2% |
| Stocks | 30/36 | €2,281,100 | €2,833,503 | +€552,403 | +24.2% |
| Amounts receivable within one year | 40/41 | €2,923 | €0 | -€2,923 | -100% |
| Trade receivables | 40 | €1,874 | €0 | -€1,874 | -100% |
| Other amounts receivable | 41 | €1,049 | €0 | -€1,049 | -100% |
| Current investments | 50/53 | €6,780 | €6,780 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €90,488 | €9,926 | -€80,562 | -89.0% |
| Deferred charges and accrued income | 490/1 | €671 | €1,300 | +€629 | +93.6% |
| Total equity and liabilities | 10/49 | €3,854,847 | €4,279,700 | +€424,853 | +11.0% |
| Equity | 10/15 | €1,830,500 | €1,704,695 | -€125,805 | -6.9% |
| Contributions | 10/11 | €21,265 | €21,265 | = | 0.0% |
| Reserves | 13 | €1,913,349 | €1,913,349 | = | 0.0% |
| Distributable reserves | 133 | €1,913,349 | €1,913,349 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€104,114 | -€229,920 | -€125,805 | -121% |
| Amounts payable | 17/49 | €2,024,347 | €2,575,005 | +€550,658 | +27.2% |
| Amounts payable after more than one year | 17 | - | €1,491,869 | +€1.5m | |
| Financial debts | 170/4 | - | €1,491,869 | +€1.5m | |
| Amounts payable within one year | 42/48 | €2,024,078 | €1,068,798 | -€955,280 | -47.2% |
| Current portion of amounts payable after more than one year | 42 | €325,338 | €84,336 | -€241,002 | -74.1% |
| Financial debts | 43 | - | €400,000 | +€400,000 | |
| Credit institutions | 430/8 | - | €400,000 | +€400,000 | |
| Trade debts | 44 | €2,290 | €1,360 | -€930 | -40.6% |
| Suppliers | 440/4 | €2,290 | €1,360 | -€930 | -40.6% |
| Advances received on contracts in progress | 46 | €368 | €0 | -€368 | -100% |
| Taxes, remuneration and social security | 45 | €43,516 | €29,440 | -€14,076 | -32.3% |
| Taxes | 450/3 | €43,516 | €29,440 | -€14,076 | -32.3% |
| Other amounts payable | 47/48 | €1,652,565 | €553,662 | -€1.1m | -66.5% |
| Accrued charges and deferred income | 492/3 | €269 | €14,338 | +€14,069 | +5,231% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,589 | €35,658 | -€6,930 | -16.3% |
| Other operating charges | 640/8 | €3,913 | €12,029 | +€8,116 | +207% |
| Gross operating margin | 9900 | €24,549 | €44,592 | +€20,043 | +81.6% |
| Operating profit (loss) | 9901 | -€21,953 | -€3,095 | +€18,858 | +85.9% |
| Financial income | 75/76B | €32 | €37 | +€5 | +16.6% |
| Recurring financial income | 75 | €32 | €37 | +€5 | +16.6% |
| Financial charges | 65/66B | €82,193 | €122,747 | +€40,554 | +49.3% |
| Recurring financial charges | 65 | €82,193 | €122,747 | +€40,554 | +49.3% |
| Profit (loss) for the period before taxes | 9903 | -€104,114 | -€125,805 | -€21,691 | -20.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€104,114 | -€125,805 | -€21,691 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€104,114 | -€125,805 | -€21,691 | -20.8% |
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 30 October 2026 via checked.be.