DELAPSY: 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.
DELAPSY
Largest movements
- Current investments +€100,000
up €100,000 (+33.3%), from €300,000 to €400,000
- Cash +€47,727
up €47,727 (+69.4%), from €68,730 to €116,457
mainly Net result for the year (+€160,555) and Depreciation (+€17,987)
- Tangible fixed assets -€11,433
down €11,433 (-22.8%), from €50,126 to €38,694
of which Furniture and vehicles: -€11,038
- Profit (loss) carried forward +€83,412
up €83,412 (+58.7%), from €142,212 to €225,625
- Reserves +€60,000
up €60,000 (+26.0%), from €230,960 to €290,960
of which Distributable reserves: +€102,100
- Tax, wage and social debts -€9,770
down €9,770 (-54.3%), from €17,997 to €8,228
of which Taxes: -€12,855
- Gross operating margin +€11,002
up €11,002 (+5.0%), from €221,631 to €232,633
- Taxes +€3,118
up €3,118 (+5.6%), from €55,538 to €58,656
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 | €427,083 | €559,463 | +€132,380 | +31.0% |
| Fixed assets | 21/28 | €50,176 | €38,744 | -€11,433 | -22.8% |
| Tangible fixed assets | 22/27 | €50,126 | €38,694 | -€11,433 | -22.8% |
| Land and buildings | 22 | €26,968 | €26,573 | -€395 | -1.5% |
| Furniture and vehicles | 24 | €23,158 | €12,120 | -€11,038 | -47.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €376,907 | €520,720 | +€143,813 | +38.2% |
| Amounts receivable within one year | 40/41 | €6,473 | €3,193 | -€3,280 | -50.7% |
| Trade receivables | 40 | €6,473 | €1,849 | -€4,623 | -71.4% |
| Other amounts receivable | 41 | - | €1,344 | +€1,344 | |
| Current investments | 50/53 | €300,000 | €400,000 | +€100,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €68,730 | €116,457 | +€47,727 | +69.4% |
| Deferred charges and accrued income | 490/1 | €1,704 | €1,070 | -€634 | -37.2% |
| Total equity and liabilities | 10/49 | €427,083 | €559,463 | +€132,380 | +31.0% |
| Equity | 10/15 | €385,572 | €528,985 | +€143,412 | +37.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €230,960 | €290,960 | +€60,000 | +26.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €42,100 | €0 | -€42,100 | -100.0% |
| Distributable reserves | 133 | €187,000 | €289,100 | +€102,100 | +54.6% |
| Profit (loss) carried forward | 14 | €142,212 | €225,625 | +€83,412 | +58.7% |
| Amounts payable | 17/49 | €41,511 | €30,479 | -€11,032 | -26.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €41,437 | €30,479 | -€10,958 | -26.4% |
| Current portion of amounts payable after more than one year | 42 | €17,478 | €16,786 | -€692 | -4.0% |
| Trade debts | 44 | €4,765 | €4,440 | -€325 | -6.8% |
| Suppliers | 440/4 | €4,765 | €4,440 | -€325 | -6.8% |
| Taxes, remuneration and social security | 45 | €17,997 | €8,228 | -€9,770 | -54.3% |
| Taxes | 450/3 | €17,997 | €5,143 | -€12,855 | -71.4% |
| Remuneration and social security | 454/9 | - | €3,085 | +€3,085 | |
| Other amounts payable | 47/48 | €1,197 | €1,025 | -€172 | -14.4% |
| Accrued charges and deferred income | 492/3 | €74 | €0 | -€74 | -99.6% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,945 | €17,987 | +€1,042 | +6.1% |
| Other operating charges | 640/8 | €1,220 | €1,179 | -€40 | -3.3% |
| Gross operating margin | 9900 | €221,631 | €232,633 | +€11,002 | +5.0% |
| Operating profit (loss) | 9901 | €203,467 | €213,467 | +€10,001 | +4.9% |
| Financial income | 75/76B | €5,391 | €6,901 | +€1,510 | +28.0% |
| Recurring financial income | 75 | €5,391 | €6,901 | +€1,510 | +28.0% |
| Financial charges | 65/66B | €1,019 | €1,157 | +€138 | +13.6% |
| Recurring financial charges | 65 | €1,019 | €1,157 | +€138 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | €207,839 | €219,211 | +€11,373 | +5.5% |
| Income taxes | 67/77 | €55,538 | €58,656 | +€3,118 | +5.6% |
| Profit (loss) for the period | 9904 | €152,301 | €160,555 | +€8,254 | +5.4% |
| Transfer from tax-exempt reserves | 789 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €152,301 | €202,655 | +€50,354 | +33.1% |
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.