DELBUILD: 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.
DELBUILD
Largest movements
- Receivables within one year +€97,150
up €97,150 (+749.1%), from €12,969 to €110,119
of which Trade receivables: +€98,019
- Tangible fixed assets +€35,789
up €35,789 (+170.6%), from €20,984 to €56,773
of which Leasing and similar rights: +€30,995
- Cash -€4,188
no longer reported in 2025 (was €4,188)
mainly Receivables within one year (-€97,150) and Investment in fixed assets (net) (-€47,886)
- Short-term financial debts +€58,491
new in 2025: €58,491
- Reserves +€40,031
up €40,031 (+215.4%), from €18,582 to €58,612
- Debts after one year +€16,733
up €16,733 (+27.2%), from €61,456 to €78,188
- Current portion of long-term debt +€7,786
up €7,786 (+64.1%), from €12,143 to €19,929
- Tax, wage and social debts +€4,881
up €4,881 (+28.6%), from €17,045 to €21,927
of which Taxes: +€5,016
- Gross operating margin +€65,613
up €65,613 (+436.3%), from €15,039 to €80,652
- Taxes +€19,197
up €19,197 (+633.8%), from €3,029 to €22,226
- Depreciation +€4,764
up €4,764 (+65.0%), from €7,333 to €12,097
- Financial charges +€1,726
up €1,726 (+64.0%), from €2,698 to €4,424
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 | €113,765 | €243,312 | +€129,547 | +113.9% |
| Fixed assets | 21/28 | €95,984 | €131,773 | +€35,789 | +37.3% |
| Tangible fixed assets | 22/27 | €20,984 | €56,773 | +€35,789 | +170.6% |
| Plant, machinery and equipment | 23 | €600 | €210 | -€390 | -65.0% |
| Furniture and vehicles | 24 | €959 | €6,143 | +€5,185 | +540.7% |
| Leasing and similar rights | 25 | €19,425 | €50,419 | +€30,995 | +159.6% |
| Financial fixed assets | 28 | €75,000 | €75,000 | = | 0.0% |
| Current assets | 29/58 | €17,782 | €111,540 | +€93,758 | +527.3% |
| Amounts receivable within one year | 40/41 | €12,969 | €110,119 | +€97,150 | +749.1% |
| Trade receivables | 40 | €12,100 | €110,119 | +€98,019 | +810.1% |
| Other amounts receivable | 41 | €869 | - | -€869 | |
| Cash at bank and in hand | 54/58 | €4,188 | - | -€4,188 | |
| Deferred charges and accrued income | 490/1 | €625 | €1,421 | +€796 | +127.2% |
| Total equity and liabilities | 10/49 | €113,765 | €243,312 | +€129,547 | +113.9% |
| Equity | 10/15 | €21,582 | €61,612 | +€40,031 | +185.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €18,582 | €58,612 | +€40,031 | +215.4% |
| Distributable reserves | 133 | €18,582 | €58,612 | +€40,031 | +215.4% |
| Amounts payable | 17/49 | €92,184 | €181,700 | +€89,516 | +97.1% |
| Amounts payable after more than one year | 17 | €61,456 | €78,188 | +€16,733 | +27.2% |
| Financial debts | 170/4 | €61,456 | €78,188 | +€16,733 | +27.2% |
| Amounts payable within one year | 42/48 | €29,399 | €103,004 | +€73,605 | +250.4% |
| Current portion of amounts payable after more than one year | 42 | €12,143 | €19,929 | +€7,786 | +64.1% |
| Financial debts | 43 | - | €58,491 | +€58,491 | |
| Credit institutions | 430/8 | - | €58,491 | +€58,491 | |
| Trade debts | 44 | €211 | €2,657 | +€2,446 | +1159.5% |
| Suppliers | 440/4 | €211 | €2,657 | +€2,446 | +1159.5% |
| Taxes, remuneration and social security | 45 | €17,045 | €21,927 | +€4,881 | +28.6% |
| Taxes | 450/3 | €13,010 | €18,027 | +€5,016 | +38.6% |
| Remuneration and social security | 454/9 | €4,035 | €3,900 | -€135 | -3.3% |
| Accrued charges and deferred income | 492/3 | €1,330 | €508 | -€822 | -61.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,333 | €12,097 | +€4,764 | +65.0% |
| Other operating charges | 640/8 | €1,280 | €1,887 | +€608 | +47.5% |
| Gross operating margin | 9900 | €15,039 | €80,652 | +€65,613 | +436.3% |
| Operating profit (loss) | 9901 | €6,427 | €66,668 | +€60,242 | +937.4% |
| Financial income | 75/76B | €0 | €13 | +€13 | +32475.0% |
| Recurring financial income | 75 | €0 | €13 | +€13 | +32475.0% |
| Financial charges | 65/66B | €2,698 | €4,424 | +€1,726 | +64.0% |
| Recurring financial charges | 65 | €2,698 | €4,424 | +€1,726 | +64.0% |
| Profit (loss) for the period before taxes | 9903 | €3,729 | €62,257 | +€58,528 | +1569.6% |
| Income taxes | 67/77 | €3,029 | €22,226 | +€19,197 | +633.8% |
| Profit (loss) for the period | 9904 | €700 | €40,031 | +€39,331 | +5619.9% |
| Profit (loss) for the period to be appropriated | 9905 | €700 | €40,031 | +€39,331 | +5619.9% |
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 11 October 2026 via checked.be.