Delco: 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.
Delco
Largest movements
- Receivables within one year -€40,997
down €40,997 (-10.2%), from €402,184 to €361,186
of which Trade receivables: -€42,797
- Cash -€14,784
down €14,784 (-40.4%), from €36,633 to €21,848
mainly Trade debts (-€65,465) and Other debts (-€29,291)
- Tangible fixed assets -€5,165
no longer reported in 2025 (was €5,165)
- Trade debts -€65,465
down €65,465 (-18.6%), from €352,568 to €287,103
of which Bills of exchange payable: -€352,568
- Profit (loss) carried forward +€46,534
up €46,534 (+171.3%), from €27,167 to €73,702
- Other debts -€29,291
down €29,291 (-80.9%), from €36,217 to €6,926
- Accrued charges and deferred income -€19,750
down €19,750 (-80.7%), from €24,480 to €4,731
- Tax, wage and social debts +€17,160
up €17,160 (+826.4%), from €2,076 to €19,236
- Gross operating margin +€66,251
up €66,251 (+2162.2%), from €3,064 to €69,315
- Taxes +€15,305
up €15,305 (+6828.0%), from €224 to €15,529
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 | €484,503 | €425,963 | -€58,540 | -12.1% |
| Fixed assets | 21/28 | €5,253 | €103 | -€5,150 | -98.0% |
| Tangible fixed assets | 22/27 | €5,165 | - | -€5,165 | |
| Furniture and vehicles | 24 | €5,165 | - | -€5,165 | |
| Financial fixed assets | 28 | €88 | €103 | +€15 | +17.1% |
| Current assets | 29/58 | €479,250 | €425,860 | -€53,390 | -11.1% |
| Stocks and contracts in progress | 3 | €16,736 | €16,736 | = | 0.0% |
| Stocks | 30/36 | €16,736 | €16,736 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €402,184 | €361,186 | -€40,997 | -10.2% |
| Trade receivables | 40 | €366,912 | €324,115 | -€42,797 | -11.7% |
| Other amounts receivable | 41 | €35,272 | €37,071 | +€1,800 | +5.1% |
| Cash at bank and in hand | 54/58 | €36,633 | €21,848 | -€14,784 | -40.4% |
| Deferred charges and accrued income | 490/1 | €23,698 | €26,089 | +€2,391 | +10.1% |
| Total equity and liabilities | 10/49 | €484,503 | €425,963 | -€58,540 | -12.1% |
| Equity | 10/15 | €51,527 | €98,062 | +€46,534 | +90.3% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €11,860 | €11,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,167 | €73,702 | +€46,534 | +171.3% |
| Amounts payable | 17/49 | €432,976 | €327,901 | -€105,075 | -24.3% |
| Amounts payable after more than one year | 17 | €9,968 | €4,272 | -€5,696 | -57.1% |
| Financial debts | 170/4 | €9,968 | €4,272 | -€5,696 | -57.1% |
| Amounts payable within one year | 42/48 | €398,528 | €318,898 | -€79,629 | -20.0% |
| Current portion of amounts payable after more than one year | 42 | €7,666 | €5,634 | -€2,032 | -26.5% |
| Trade debts | 44 | €352,568 | €287,103 | -€65,465 | -18.6% |
| Suppliers | 440/4 | - | €287,103 | +€287,103 | |
| Bills of exchange payable | 441 | €352,568 | - | -€352,568 | |
| Taxes, remuneration and social security | 45 | €2,076 | €19,236 | +€17,160 | +826.4% |
| Taxes | 450/3 | €2,076 | €19,236 | +€17,160 | +826.4% |
| Other amounts payable | 47/48 | €36,217 | €6,926 | -€29,291 | -80.9% |
| Accrued charges and deferred income | 492/3 | €24,480 | €4,731 | -€19,750 | -80.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,665 | €5,165 | -€499 | -8.8% |
| Other operating charges | 640/8 | €1,526 | €1,660 | +€134 | +8.8% |
| Gross operating margin | 9900 | €3,064 | €69,315 | +€66,251 | +2162.2% |
| Operating profit (loss) | 9901 | -€4,127 | €62,490 | +€66,617 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +1220.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +1220.0% |
| Financial charges | 65/66B | €605 | €428 | -€177 | -29.3% |
| Recurring financial charges | 65 | €605 | €428 | -€177 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,732 | €62,064 | +€66,795 | |
| Income taxes | 67/77 | €224 | €15,529 | +€15,305 | +6828.0% |
| Profit (loss) for the period | 9904 | -€4,956 | €46,534 | +€51,490 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,956 | €46,534 | +€51,490 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.