DELBA: 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.
DELBA
Largest movements
- Tangible fixed assets -€72,283
down €72,283 (-30.9%), from €234,175 to €161,892
of which Plant, machinery and equipment: -€78,774
- Cash -€33,664
down €33,664 (-30.0%), from €112,356 to €78,692
mainly Debts after one year (-€122,888) and Current portion of long-term debt (-€25,828)
- Receivables within one year -€8,901
down €8,901 (-26.9%), from €33,117 to €24,216
of which Trade receivables: -€12,150
- Debts after one year -€122,888
down €122,888 (-39.8%), from €308,487 to €185,599
of which Financial debts: -€118,407
- Profit (loss) carried forward +€54,137
up €54,137, from -€17,205 to €36,932
- Current portion of long-term debt -€25,828
down €25,828 (-82.3%), from €31,379 to €5,551
- Advances received -€19,871
down €19,871 (-100.0%), from €19,871 to €0
- Trade debts -€7,550
down €7,550 (-54.1%), from €13,945 to €6,395
- Depreciation -€10,667
down €10,667 (-39.9%), from €26,720 to €16,053
- Taxes +€6,568
new in 2025: €6,568
- Gross operating margin +€910
up €910 (+1.1%), from €84,471 to €85,381
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 | €383,947 | €266,500 | -€117,447 | -30.6% |
| Fixed assets | 21/28 | €234,175 | €161,892 | -€72,283 | -30.9% |
| Tangible fixed assets | 22/27 | €234,175 | €161,892 | -€72,283 | -30.9% |
| Land and buildings | 22 | €129,211 | €140,009 | +€10,799 | +8.4% |
| Plant, machinery and equipment | 23 | €90,270 | €11,496 | -€78,774 | -87.3% |
| Furniture and vehicles | 24 | - | €905 | +€905 | |
| Leasing and similar rights | 25 | €14,695 | €9,482 | -€5,212 | -35.5% |
| Current assets | 29/58 | €149,772 | €104,608 | -€45,164 | -30.2% |
| Stocks and contracts in progress | 3 | €2,664 | €0 | -€2,664 | -100.0% |
| Stocks | 30/36 | €2,664 | €0 | -€2,664 | -100.0% |
| Amounts receivable within one year | 40/41 | €33,117 | €24,216 | -€8,901 | -26.9% |
| Trade receivables | 40 | €32,934 | €20,783 | -€12,150 | -36.9% |
| Other amounts receivable | 41 | €184 | €3,432 | +€3,249 | +1770.0% |
| Cash at bank and in hand | 54/58 | €112,356 | €78,692 | -€33,664 | -30.0% |
| Deferred charges and accrued income | 490/1 | €1,635 | €1,700 | +€65 | +4.0% |
| Total equity and liabilities | 10/49 | €383,947 | €266,500 | -€117,447 | -30.6% |
| Equity | 10/15 | €795 | €54,932 | +€54,137 | +6808.5% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,205 | €36,932 | +€54,137 | |
| Amounts payable | 17/49 | €383,152 | €211,567 | -€171,584 | -44.8% |
| Amounts payable after more than one year | 17 | €308,487 | €185,599 | -€122,888 | -39.8% |
| Financial debts | 170/4 | €300,645 | €182,238 | -€118,407 | -39.4% |
| Trade debts | 175 | €7,842 | €3,361 | -€4,481 | -57.1% |
| Amounts payable within one year | 42/48 | €74,362 | €24,988 | -€49,374 | -66.4% |
| Current portion of amounts payable after more than one year | 42 | €31,379 | €5,551 | -€25,828 | -82.3% |
| Trade debts | 44 | €13,945 | €6,395 | -€7,550 | -54.1% |
| Suppliers | 440/4 | €13,945 | €6,395 | -€7,550 | -54.1% |
| Advances received on contracts in progress | 46 | €19,871 | €0 | -€19,871 | -100.0% |
| Taxes, remuneration and social security | 45 | €6,836 | €9,983 | +€3,147 | +46.0% |
| Taxes | 450/3 | €6,836 | €9,983 | +€3,147 | +46.0% |
| Other amounts payable | 47/48 | €2,331 | €3,060 | +€728 | +31.2% |
| Accrued charges and deferred income | 492/3 | €302 | €980 | +€678 | +224.1% |
| Non-recurring operating income | 76A | €4,042 | €18,573 | +€14,531 | +359.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,720 | €16,053 | -€10,667 | -39.9% |
| Other operating charges | 640/8 | €2,126 | €2,932 | +€807 | +37.9% |
| Non-recurring operating charges | 66A | €77,515 | €0 | -€77,515 | -100.0% |
| Gross operating margin | 9900 | €84,471 | €85,381 | +€910 | +1.1% |
| Operating profit (loss) | 9901 | -€21,890 | €66,396 | +€88,286 | |
| Financial income | 75/76B | €0 | €20 | +€20 | +49500.0% |
| Recurring financial income | 75 | €0 | €20 | +€20 | +49500.0% |
| Financial charges | 65/66B | €3,294 | €3,212 | -€82 | -2.5% |
| Recurring financial charges | 65 | €3,294 | €3,212 | -€82 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | -€25,184 | €63,204 | +€88,388 | |
| Income taxes | 67/77 | - | €6,568 | +€6,568 | |
| Profit (loss) for the period | 9904 | -€25,184 | €56,636 | +€81,820 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,184 | €56,636 | +€81,820 |
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 12 October 2026 via checked.be.