DELBACO: 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.
What changed
DELBACO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€130,285
2025 · €582,483-€452,197
Equity
€1.3m
2025 · €17.1m-€15.7m
Cash
€12,295
2025 · €17,539-€5,244
Balance sheet total
€5.1m
2025 · €22.3m-€17.2m
Largest movements
Assets
- Financial fixed assets -€15.6m
down €15.6m (-95.4%), from €16.3m to €746,941
- Current investments -€900,000
down €900,000 (-45.0%), from €2.0m to €1.1m
- Receivables within one year -€425,508
down €425,508 (-89.1%), from €477,595 to €52,086
of which Trade receivables: -€419,900
- Tangible fixed assets -€292,090
down €292,090 (-8.4%), from €3.5m to €3.2m
of which Land and buildings: -€392,729
Equity and liabilities
- Reserves -€10.3m
down €10.3m (-93.2%), from €11.1m to €750,430
of which Distributable reserves: -€8.5m
- Contributions -€5.4m
down €5.4m (-90.0%), from €6.0m to €595,716
- Other debts -€853,986
down €853,986 (-31.4%), from €2.7m to €1.9m
- Debts after one year -€282,500
down €282,500 (-17.8%), from €1.6m to €1.3m
of which Financial debts: -€162,500
Income statement
- Turnover -€369,271
down €369,271 (-47.7%), from €773,450 to €404,179
- Staff costs -€313,219
down €313,219 (-52.3%), from €599,421 to €286,203
- Financial income -€230,120
down €230,120 (-82.9%), from €277,750 to €47,630
of which Financial income: -€230,120
- Services and other goods +€69,635
up €69,635 (+34.8%), from €199,983 to €269,618
- Taxes -€26,136
down €26,136 (-15.9%), from €164,811 to €138,675
of which Taxes: -€26,890
From the 2025 result to the 2026 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.
Result 2025
€582,483
Turnover
-€369,271
Other operating income
+€19,314
Services and other goods
-€69,635
Staff costs
+€313,219
Depreciation
+€7,811
Other operating charges
+€10,017
Other operating items
-€230,856
Financial income
-€230,120
Financial charges
+€11,569
Taxes
+€26,136
Deferred taxes and other
+€59,620
Result 2026
€130,285
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€110,536
Investment
+€16.4m
Financing
-€16.3m
Cash 2025
€17,539
From operations (derived)
-€110,536
Net result for the year
+€130,285
Depreciation
+€413,006
Receivables within one year
+€425,508
Smaller working-capital items
+€478
Provisions
-€76,643
Trade debts
-€46,253
Tax, wage and social debts
-€102,932
Other debts
-€853,986
Investment (derived)
+€16.4m
Investment in fixed assets (net)
+€15.5m
Current investments
+€900,000
Financing
-€16.3m
Debts after one year
-€282,500
Current portion of long-term debt
-€155,555
Contributions, distributions and other
-€15.8m
Cash 2026
€12,295
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,318,933 | €5,095,105 | -€17.2m | -77.2% |
| Fixed assets | 21/28 | €19,815,362 | €3,922,101 | -€15.9m | -80.2% |
| Tangible fixed assets | 22/27 | €3,467,251 | €3,175,160 | -€292,090 | -8.4% |
| Land and buildings | 22 | €3,434,918 | €3,042,189 | -€392,729 | -11.4% |
| Furniture and vehicles | 24 | €29,202 | €129,842 | +€100,639 | +344.6% |
| Assets under construction and advance payments | 27 | €3,130 | €3,130 | = | 0.0% |
| Financial fixed assets | 28 | €16,348,111 | €746,941 | -€15.6m | -95.4% |
| Affiliated companies | 280/1 | €16,348,111 | €746,941 | -€15.6m | -95.4% |
| Participating interests | 280 | €16,348,111 | €746,941 | -€15.6m | -95.4% |
| Current assets | 29/58 | €2,503,571 | €1,173,004 | -€1.3m | -53.1% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €477,595 | €52,086 | -€425,508 | -89.1% |
| Trade receivables | 40 | €421,628 | €1,728 | -€419,900 | -99.6% |
| Other amounts receivable | 41 | €55,967 | €50,359 | -€5,608 | -10.0% |
| Current investments | 50/53 | €2,000,000 | €1,100,000 | -€900,000 | -45.0% |
| Other investments | 51/53 | €2,000,000 | €1,100,000 | -€900,000 | -45.0% |
| Cash at bank and in hand | 54/58 | €17,539 | €12,295 | -€5,244 | -29.9% |
| Deferred charges and accrued income | 490/1 | €8,437 | €8,622 | +€185 | +2.2% |
| Total equity and liabilities | 10/49 | €22,318,933 | €5,095,105 | -€17.2m | -77.2% |
| Equity | 10/15 | €17,052,768 | €1,346,146 | -€15.7m | -92.1% |
| Contributions | 10/11 | €5,957,058 | €595,716 | -€5.4m | -90.0% |
| Capital | 10 | €5,957,058 | €595,716 | -€5.4m | -90.0% |
| Issued capital | 100 | €5,957,058 | €595,716 | -€5.4m | -90.0% |
| Reserves | 13 | €11,095,710 | €750,430 | -€10.3m | -93.2% |
| Non-distributable reserves | 130/1 | €578,347 | €59,572 | -€518,775 | -89.7% |
| Legal reserve | 130 | €578,347 | €59,572 | -€518,775 | -89.7% |
| Tax-exempt reserves | 132 | €1,388,606 | €12,630 | -€1.4m | -99.1% |
| Distributable reserves | 133 | €9,128,757 | €678,228 | -€8.5m | -92.6% |
| Provisions and deferred taxes | 16 | €462,869 | €386,226 | -€76,643 | -16.6% |
| Deferred taxes | 168 | €462,869 | €386,226 | -€76,643 | -16.6% |
| Amounts payable | 17/49 | €4,803,297 | €3,362,734 | -€1.4m | -30.0% |
| Amounts payable after more than one year | 17 | €1,587,084 | €1,304,584 | -€282,500 | -17.8% |
| Financial debts | 170/4 | €1,467,084 | €1,304,584 | -€162,500 | -11.1% |
| Credit institutions | 173 | €1,467,084 | €1,304,584 | -€162,500 | -11.1% |
| Other amounts payable | 178/9 | €120,000 | €0 | -€120,000 | -100.0% |
| Amounts payable within one year | 42/48 | €3,216,170 | €2,057,444 | -€1.2m | -36.0% |
| Current portion of amounts payable after more than one year | 42 | €318,055 | €162,500 | -€155,555 | -48.9% |
| Trade debts | 44 | €75,043 | €28,790 | -€46,253 | -61.6% |
| Suppliers | 440/4 | €75,043 | €28,790 | -€46,253 | -61.6% |
| Taxes, remuneration and social security | 45 | €102,932 | €0 | -€102,932 | -100.0% |
| Taxes | 450/3 | €8,805 | €0 | -€8,805 | -100.0% |
| Remuneration and social security | 454/9 | €94,127 | €0 | -€94,127 | -100.0% |
| Other amounts payable | 47/48 | €2,720,140 | €1,866,154 | -€853,986 | -31.4% |
| Accrued charges and deferred income | 492/3 | €43 | €706 | +€663 | +1529.0% |
| Operating income | 70/76A | €1,785,725 | €1,204,913 | -€580,813 | -32.5% |
| Turnover | 70 | €773,450 | €404,179 | -€369,271 | -47.7% |
| Other operating income | 74 | €767,919 | €787,233 | +€19,314 | +2.5% |
| Non-recurring operating income | 76A | €244,356 | €13,500 | -€230,856 | -94.5% |
| Operating charges | 60/66A | €1,282,113 | €1,020,701 | -€261,412 | -20.4% |
| Services and other goods | 61 | €199,983 | €269,618 | +€69,635 | +34.8% |
| Remuneration, social security and pensions | 62 | €599,421 | €286,203 | -€313,219 | -52.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €420,817 | €413,006 | -€7,811 | -1.9% |
| Other operating charges | 640/8 | €61,892 | €51,875 | -€10,017 | -16.2% |
| Operating profit (loss) | 9901 | €503,613 | €184,212 | -€319,401 | -63.4% |
| Financial income | 75/76B | €277,750 | €47,630 | -€230,120 | -82.9% |
| Recurring financial income | 75 | €277,750 | €47,630 | -€230,120 | -82.9% |
| Income from financial fixed assets | 750 | €199,750 | €19,900 | -€179,850 | -90.0% |
| Income from current assets | 751 | €78,000 | €27,730 | -€50,270 | -64.4% |
| Other financial income | 752/9 | €0 | - | = | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €51,093 | €39,524 | -€11,569 | -22.6% |
| Recurring financial charges | 65 | €51,093 | €39,524 | -€11,569 | -22.6% |
| Debt charges | 650 | €48,752 | €39,524 | -€9,229 | -18.9% |
| Other financial charges | 652/9 | €2,340 | €0 | -€2,340 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €730,270 | €192,318 | -€537,952 | -73.7% |
| Transfer from deferred taxes | 780 | €78,112 | €76,643 | -€1,470 | -1.9% |
| Transfer to deferred taxes | 680 | €61,089 | €0 | -€61,089 | -100.0% |
| Income taxes | 67/77 | €164,811 | €138,675 | -€26,136 | -15.9% |
| Taxes | 670/3 | €165,865 | €138,976 | -€26,890 | -16.2% |
| Tax adjustments and reversals of tax provisions | 77 | €1,055 | €301 | -€754 | -71.5% |
| Profit (loss) for the period | 9904 | €582,483 | €130,285 | -€452,197 | -77.6% |
| Transfer from tax-exempt reserves | 789 | €234,337 | €114,964 | -€119,373 | -50.9% |
| Transfer to tax-exempt reserves | 689 | €183,267 | €12,630 | -€170,637 | -93.1% |
| Profit (loss) for the period to be appropriated | 9905 | €633,552 | €232,619 | -€400,933 | -63.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.