DELBEKE-AERTS: what changed
What changed
DELBEKE-AERTS
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€420,155
2024 · €295,047+€125,108
Equity
€2.5m
2024 · €2.1m+€418,489
Cash
€8,920
2024 · €13,076-€4,156
Balance sheet total
€3.9m
2024 · €3.8m+€67,852
Largest movements
Assets
- Receivables within one year +€71,147
up €71,147 (+16.4%), from €432,905 to €504,051
of which Other amounts receivable: +€72,044
Equity and liabilities
- Reserves +€418,489
up €418,489 (+20.5%), from €2.0m to €2.5m
- Debts after one year -€299,524
down €299,524 (-32.6%), from €917,580 to €618,057
- Other debts -€80,354
down €80,354 (-17.0%), from €471,694 to €391,341
Income statement
- Gross operating margin +€173,341
up €173,341 (+36.2%), from €479,477 to €652,818
- Taxes +€56,986
up €56,986 (+42.4%), from €134,386 to €191,371
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€295,047
Gross operating margin
+€173,341
Depreciation
+€5,390
Other operating charges
-€147
Financial income
-€220
Financial charges
+€3,730
Taxes
-€56,986
Result 2025
€420,155
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€291,790
Investment
€0
Financing
-€295,947
Cash 2024
€13,076
From operations (derived)
+€291,790
Net result for the year
+€420,155
Depreciation
+€2,169
Receivables within one year
-€71,147
Deferred charges and accrued income
-€3,030
Trade debts
-€5,965
Tax, wage and social debts
+€35,321
Other debts
-€80,354
Accrued charges and deferred income
-€5,358
Financing
-€295,947
Debts after one year
-€299,524
Current portion of long-term debt
+€5,243
Contributions, distributions and other
-€1,666
Cash 2025
€8,920
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,837,186 | €3,905,039 | +€67,852 | +1.8% |
| Fixed assets | 21/28 | €3,390,146 | €3,387,978 | -€2,169 | -0.1% |
| Tangible fixed assets | 22/27 | €2,169 | €0 | -€2,169 | -100% |
| Furniture and vehicles | 24 | €2,169 | €0 | -€2,169 | -100% |
| Financial fixed assets | 28 | €3,387,978 | €3,387,978 | = | 0.0% |
| Current assets | 29/58 | €447,040 | €517,061 | +€70,021 | +15.7% |
| Amounts receivable within one year | 40/41 | €432,905 | €504,051 | +€71,147 | +16.4% |
| Trade receivables | 40 | €28,717 | €27,820 | -€897 | -3.1% |
| Other amounts receivable | 41 | €404,187 | €476,231 | +€72,044 | +17.8% |
| Cash at bank and in hand | 54/58 | €13,076 | €8,920 | -€4,156 | -31.8% |
| Deferred charges and accrued income | 490/1 | €1,059 | €4,089 | +€3,030 | +286% |
| Total equity and liabilities | 10/49 | €3,837,186 | €3,905,039 | +€67,852 | +1.8% |
| Equity | 10/15 | €2,064,278 | €2,482,767 | +€418,489 | +20.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,045,678 | €2,464,167 | +€418,489 | +20.5% |
| Distributable reserves | 133 | €2,045,678 | €2,464,167 | +€418,489 | +20.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,772,908 | €1,422,272 | -€350,637 | -19.8% |
| Amounts payable after more than one year | 17 | €917,580 | €618,057 | -€299,524 | -32.6% |
| Financial debts | 170/4 | €917,580 | €618,057 | -€299,524 | -32.6% |
| Amounts payable within one year | 42/48 | €847,594 | €801,839 | -€45,755 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €334,712 | €339,955 | +€5,243 | +1.6% |
| Trade debts | 44 | €10,996 | €5,031 | -€5,965 | -54.2% |
| Suppliers | 440/4 | €10,996 | €5,031 | -€5,965 | -54.2% |
| Taxes, remuneration and social security | 45 | €30,192 | €65,512 | +€35,321 | +117% |
| Taxes | 450/3 | €30,192 | €65,512 | +€35,321 | +117% |
| Other amounts payable | 47/48 | €471,694 | €391,341 | -€80,354 | -17.0% |
| Accrued charges and deferred income | 492/3 | €7,734 | €2,376 | -€5,358 | -69.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,558 | €2,169 | -€5,390 | -71.3% |
| Other operating charges | 640/8 | €2,037 | €2,184 | +€147 | +7.2% |
| Gross operating margin | 9900 | €479,477 | €652,818 | +€173,341 | +36.2% |
| Operating profit (loss) | 9901 | €469,882 | €648,466 | +€178,584 | +38.0% |
| Financial income | 75/76B | €12,083 | €11,863 | -€220 | -1.8% |
| Recurring financial income | 75 | €12,083 | €11,863 | -€220 | -1.8% |
| Financial charges | 65/66B | €52,532 | €48,802 | -€3,730 | -7.1% |
| Recurring financial charges | 65 | €52,532 | €48,802 | -€3,730 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €429,432 | €611,526 | +€182,094 | +42.4% |
| Income taxes | 67/77 | €134,386 | €191,371 | +€56,986 | +42.4% |
| Profit (loss) for the period | 9904 | €295,047 | €420,155 | +€125,108 | +42.4% |
| Profit (loss) for the period to be appropriated | 9905 | €295,047 | €420,155 | +€125,108 | +42.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.