DELCAERT: 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.
DELCAERT
Largest movements
- Receivables within one year +€627,039
up €627,039 (+49.1%), from €1.3m to €1.9m
of which Trade receivables: +€528,784
- Cash -€622,418
down €622,418 (-67.1%), from €927,208 to €304,790
mainly Receivables within one year (-€627,039) and Net result for the year (-€115,331)
- Stocks and contracts +€95,050
up €95,050 (+16.8%), from €566,415 to €661,465
- Trade debts +€116,217
up €116,217 (+12.6%), from €920,654 to €1.0m
- Profit (loss) carried forward -€115,331
down €115,331 (-9.5%), from €1.2m to €1.1m
- Current portion of long-term debt +€50,019
new in 2021: €50,019
- Tax, wage and social debts +€43,028
up €43,028 (+44.2%), from €97,383 to €140,412
of which Taxes: +€35,342
- Gross operating margin -€592,950
down €592,950 (-57.4%), from €1.0m to €440,778
- Taxes -€151,608
down €151,608 (-99.9%), from €151,793 to €185
- Other operating charges +€55,858
up €55,858 (+272%), from €20,521 to €76,380
- Staff costs +€46,706
up €46,706 (+12.1%), from €386,625 to €433,331
- Financial charges -€17,454
down €17,454 (-91.5%), from €19,069 to €1,614
From the 2020 result to the 2021 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.
Derived cash bridge
Derived from the 2020 and 2021 balance sheets and the 2021 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,911,384 | €3,017,851 | +€106,467 | +3.7% |
| Fixed assets | 21/28 | €137,140 | €144,068 | +€6,928 | +5.1% |
| Intangible fixed assets | 21 | €6,910 | €2,596 | -€4,314 | -62.4% |
| Tangible fixed assets | 22/27 | €104,660 | €115,902 | +€11,242 | +10.7% |
| Plant, machinery and equipment | 23 | €33,197 | €26,953 | -€6,244 | -18.8% |
| Furniture and vehicles | 24 | €32,750 | €28,007 | -€4,743 | -14.5% |
| Other tangible fixed assets | 26 | €38,713 | €60,942 | +€22,229 | +57.4% |
| Financial fixed assets | 28 | €25,570 | €25,570 | = | 0.0% |
| Current assets | 29/58 | €2,774,244 | €2,873,783 | +€99,539 | +3.6% |
| Stocks and contracts in progress | 3 | €566,415 | €661,465 | +€95,050 | +16.8% |
| Stocks | 30/36 | €566,415 | €661,465 | +€95,050 | +16.8% |
| Amounts receivable within one year | 40/41 | €1,276,906 | €1,903,945 | +€627,039 | +49.1% |
| Trade receivables | 40 | €1,195,555 | €1,724,339 | +€528,784 | +44.2% |
| Other amounts receivable | 41 | €81,351 | €179,606 | +€98,255 | +121% |
| Current investments | 50/53 | €1,752 | €1,752 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €927,208 | €304,790 | -€622,418 | -67.1% |
| Deferred charges and accrued income | 490/1 | €1,964 | €1,832 | -€132 | -6.7% |
| Total equity and liabilities | 10/49 | €2,911,384 | €3,017,851 | +€106,467 | +3.7% |
| Equity | 10/15 | €1,890,812 | €1,775,481 | -€115,331 | -6.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €613,200 | €613,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €607,000 | €607,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,215,612 | €1,100,281 | -€115,331 | -9.5% |
| Amounts payable | 17/49 | €1,020,572 | €1,242,370 | +€221,798 | +21.7% |
| Amounts payable within one year | 42/48 | €1,018,037 | €1,227,302 | +€209,265 | +20.6% |
| Current portion of amounts payable after more than one year | 42 | - | €50,019 | +€50,019 | |
| Trade debts | 44 | €920,654 | €1,036,870 | +€116,217 | +12.6% |
| Suppliers | 440/4 | €920,654 | €1,036,870 | +€116,217 | +12.6% |
| Taxes, remuneration and social security | 45 | €97,383 | €140,412 | +€43,028 | +44.2% |
| Taxes | 450/3 | €61,999 | €97,341 | +€35,342 | +57.0% |
| Remuneration and social security | 454/9 | €35,385 | €43,071 | +€7,686 | +21.7% |
| Accrued charges and deferred income | 492/3 | €2,535 | €15,068 | +€12,533 | +494% |
| Remuneration, social security and pensions | 62 | €386,625 | €433,331 | +€46,706 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,159 | €44,599 | -€1,561 | -3.4% |
| Other operating charges | 640/8 | €20,521 | €76,380 | +€55,858 | +272% |
| Gross operating margin | 9900 | €1,033,728 | €440,778 | -€592,950 | -57.4% |
| Operating profit (loss) | 9901 | €580,422 | -€113,532 | -€693,954 | |
| Financial charges | 65/66B | €19,069 | €1,614 | -€17,454 | -91.5% |
| Recurring financial charges | 65 | €19,069 | €1,614 | -€17,454 | -91.5% |
| Profit (loss) for the period before taxes | 9903 | €561,354 | -€115,146 | -€676,499 | |
| Transfer from deferred taxes | 780 | €37,500 | €0 | -€37,500 | -100% |
| Income taxes | 67/77 | €151,793 | €185 | -€151,608 | -99.9% |
| Profit (loss) for the period | 9904 | €447,060 | -€115,331 | -€562,391 | |
| Profit (loss) for the period to be appropriated | 9905 | €447,060 | -€115,331 | -€562,391 |
Source: filed annual accounts (NBB), financial years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.