DELANTE: 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.
DELANTE
Largest movements
- Tangible fixed assets -€567,862
down €567,862 (-43.3%), from €1.3m to €742,849
of which Land and buildings: -€653,625
- Cash +€134,075
up €134,075 (+1,019%), from €13,163 to €147,239
mainly Investment in fixed assets (net) (+€518,180) and Net result for the year (+€73,140)
- Receivables after one year -€21,000
no longer reported in 2025 (was €21,000)
- Debts after one year -€432,022
down €432,022 (-56.5%), from €764,867 to €332,846
- Other debts +€67,688
up €67,688 (+54.8%), from €123,462 to €191,150
- Reserves -€66,619
down €66,619 (-16.5%), from €402,802 to €336,183
of which Distributable reserves: -€63,776
- Depreciation -€78,029
down €78,029 (-61.1%), from €127,710 to €49,681
- Gross operating margin -€63,529
down €63,529 (-25.0%), from €253,815 to €190,286
- Taxes +€30,379
up €30,379 (+1,181%), from €2,573 to €32,951
- Financial charges -€7,107
down €7,107 (-17.9%), from €39,600 to €32,493
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 | €1,402,637 | €948,489 | -€454,148 | -32.4% |
| Fixed assets | 21/28 | €1,310,711 | €742,849 | -€567,862 | -43.3% |
| Tangible fixed assets | 22/27 | €1,310,711 | €742,849 | -€567,862 | -43.3% |
| Land and buildings | 22 | €1,043,890 | €390,265 | -€653,625 | -62.6% |
| Furniture and vehicles | 24 | €279 | - | -€279 | |
| Other tangible fixed assets | 26 | €266,542 | €352,585 | +€86,042 | +32.3% |
| Current assets | 29/58 | €91,926 | €205,640 | +€113,714 | +124% |
| Amounts receivable after more than one year | 29 | €21,000 | - | -€21,000 | |
| Other amounts receivable | 291 | €21,000 | - | -€21,000 | |
| Amounts receivable within one year | 40/41 | €57,763 | €58,402 | +€639 | +1.1% |
| Trade receivables | 40 | €57,763 | €58,402 | +€639 | +1.1% |
| Cash at bank and in hand | 54/58 | €13,163 | €147,239 | +€134,075 | +1,019% |
| Total equity and liabilities | 10/49 | €1,402,637 | €948,489 | -€454,148 | -32.4% |
| Equity | 10/15 | €430,517 | €363,899 | -€66,619 | -15.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €402,802 | €336,183 | -€66,619 | -16.5% |
| Tax-exempt reserves | 132 | €54,715 | €51,872 | -€2,842 | -5.2% |
| Distributable reserves | 133 | €348,087 | €284,311 | -€63,776 | -18.3% |
| Profit (loss) carried forward | 14 | €7,256 | €7,256 | = | 0.0% |
| Provisions and deferred taxes | 16 | €23,449 | €22,231 | -€1,218 | -5.2% |
| Deferred taxes | 168 | €23,449 | €22,231 | -€1,218 | -5.2% |
| Amounts payable | 17/49 | €948,671 | €562,360 | -€386,311 | -40.7% |
| Amounts payable after more than one year | 17 | €764,867 | €332,846 | -€432,022 | -56.5% |
| Financial debts | 170/4 | €764,867 | €332,846 | -€432,022 | -56.5% |
| Amounts payable within one year | 42/48 | €183,803 | €229,514 | +€45,711 | +24.9% |
| Current portion of amounts payable after more than one year | 42 | €22,317 | €15,517 | -€6,801 | -30.5% |
| Trade debts | 44 | €13,082 | €5,942 | -€7,141 | -54.6% |
| Suppliers | 440/4 | €13,082 | €5,942 | -€7,141 | -54.6% |
| Taxes, remuneration and social security | 45 | €24,942 | €16,906 | -€8,036 | -32.2% |
| Taxes | 450/3 | €24,942 | €16,906 | -€8,036 | -32.2% |
| Other amounts payable | 47/48 | €123,462 | €191,150 | +€67,688 | +54.8% |
| Non-recurring operating income | 76A | €174,367 | €85,055 | -€89,312 | -51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,710 | €49,681 | -€78,029 | -61.1% |
| Other operating charges | 640/8 | €2,978 | €3,314 | +€336 | +11.3% |
| Gross operating margin | 9900 | €253,815 | €190,286 | -€63,529 | -25.0% |
| Operating profit (loss) | 9901 | €123,127 | €137,291 | +€14,164 | +11.5% |
| Financial income | 75/76B | €518 | €76 | -€442 | -85.4% |
| Recurring financial income | 75 | €518 | €76 | -€442 | -85.4% |
| Financial charges | 65/66B | €39,600 | €32,493 | -€7,107 | -17.9% |
| Recurring financial charges | 65 | €39,600 | €32,493 | -€7,107 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €84,045 | €104,873 | +€20,828 | +24.8% |
| Transfer from deferred taxes | 780 | €914 | €1,218 | +€305 | +33.3% |
| Transfer to deferred taxes | 680 | €24,363 | - | -€24,363 | |
| Income taxes | 67/77 | €2,573 | €32,951 | +€30,379 | +1,181% |
| Profit (loss) for the period | 9904 | €58,023 | €73,140 | +€15,117 | +26.1% |
| Transfer from tax-exempt reserves | 789 | €2,132 | €2,842 | +€711 | +33.3% |
| Transfer to tax-exempt reserves | 689 | €56,846 | - | -€56,846 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,309 | €75,982 | +€72,674 | +2,196% |
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 25 October 2026 via checked.be.