DELCO: 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.
DELCO
Largest movements
- Receivables within one year +€26,934
up €26,934 (+31.8%), from €84,822 to €111,756
of which Trade receivables: +€20,979
- Tangible fixed assets -€18,250
down €18,250 (-4.1%), from €450,413 to €432,163
- Cash +€7,851
up €7,851 (+8.5%), from €92,862 to €100,712
mainly Depreciation (+€20,838) and Net result for the year (+€20,613)
- Reserves +€20,613
up €20,613 (+48.6%), from €42,377 to €62,990
of which Distributable reserves: +€20,613
- Current portion of long-term debt -€10,000
no longer reported in 2025 (was €10,000)
- Trade debts +€8,909
up €8,909 (+171.5%), from €5,195 to €14,104
- Gross operating margin -€33,502
down €33,502 (-38.8%), from €86,294 to €52,793
- Taxes +€5,666
up €5,666 (+189.0%), from €2,998 to €8,664
- Other operating charges -€1,358
down €1,358 (-32.3%), from €4,208 to €2,850
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 | €630,080 | €646,614 | +€16,535 | +2.6% |
| Fixed assets | 21/28 | €452,396 | €434,146 | -€18,250 | -4.0% |
| Intangible fixed assets | 21 | €1,983 | €1,983 | = | 0.0% |
| Tangible fixed assets | 22/27 | €450,413 | €432,163 | -€18,250 | -4.1% |
| Land and buildings | 22 | €415,671 | €408,665 | -€7,007 | -1.7% |
| Plant, machinery and equipment | 23 | €20,108 | €13,015 | -€7,093 | -35.3% |
| Furniture and vehicles | 24 | €14,633 | €10,483 | -€4,150 | -28.4% |
| Current assets | 29/58 | €177,684 | €212,468 | +€34,785 | +19.6% |
| Amounts receivable within one year | 40/41 | €84,822 | €111,756 | +€26,934 | +31.8% |
| Trade receivables | 40 | €66,961 | €87,940 | +€20,979 | +31.3% |
| Other amounts receivable | 41 | €17,861 | €23,815 | +€5,954 | +33.3% |
| Cash at bank and in hand | 54/58 | €92,862 | €100,712 | +€7,851 | +8.5% |
| Total equity and liabilities | 10/49 | €630,080 | €646,614 | +€16,535 | +2.6% |
| Equity | 10/15 | €166,324 | €186,937 | +€20,613 | +12.4% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €42,377 | €62,990 | +€20,613 | +48.6% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Distributable reserves | 133 | €29,982 | €50,596 | +€20,613 | +68.8% |
| Amounts payable | 17/49 | €463,756 | €459,677 | -€4,079 | -0.9% |
| Amounts payable within one year | 42/48 | €463,756 | €459,677 | -€4,079 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | - | -€10,000 | |
| Trade debts | 44 | €5,195 | €14,104 | +€8,909 | +171.5% |
| Suppliers | 440/4 | €5,195 | €14,104 | +€8,909 | +171.5% |
| Taxes, remuneration and social security | 45 | €2,937 | - | -€2,937 | |
| Taxes | 450/3 | €2,937 | - | -€2,937 | |
| Other amounts payable | 47/48 | €445,624 | €445,573 | -€51 | 0.0% |
| Non-recurring operating income | 76A | €6,800 | - | -€6,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,237 | €20,838 | -€399 | -1.9% |
| Other operating charges | 640/8 | €4,208 | €2,850 | -€1,358 | -32.3% |
| Gross operating margin | 9900 | €86,294 | €52,793 | -€33,502 | -38.8% |
| Operating profit (loss) | 9901 | €60,850 | €29,105 | -€31,745 | -52.2% |
| Financial income | 75/76B | €210 | €248 | +€38 | +18.1% |
| Recurring financial income | 75 | €210 | €248 | +€38 | +18.1% |
| Financial charges | 65/66B | €349 | €75 | -€274 | -78.5% |
| Recurring financial charges | 65 | €349 | €75 | -€274 | -78.5% |
| Profit (loss) for the period before taxes | 9903 | €60,710 | €29,278 | -€31,433 | -51.8% |
| Income taxes | 67/77 | €2,998 | €8,664 | +€5,666 | +189.0% |
| Profit (loss) for the period | 9904 | €57,712 | €20,613 | -€37,099 | -64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €57,712 | €20,613 | -€37,099 | -64.3% |
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.