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 +€119,814
up €119,814 (+192.5%), from €62,257 to €182,071
of which Trade receivables: +€117,352
- Cash +€27,766
up €27,766 (+17.5%), from €158,552 to €186,318
mainly Debts after one year (+€123,750) and Net result for the year (+€93,747)
- Tangible fixed assets -€5,766
down €5,766 (-34.5%), from €16,712 to €10,946
of which Furniture and vehicles: -€2,906
- Debts after one year +€123,750
up €123,750 (+147.3%), from €84,000 to €207,750
- Other debts +€21,955
up €21,955 (+27.4%), from €80,177 to €102,132
- Reserves -€10,253
down €10,253 (-29.8%), from €34,365 to €24,112
- Tax, wage and social debts +€7,989
up €7,989 (+64.8%), from €12,329 to €20,319
- Gross operating margin +€13,313
up €13,313 (+11.9%), from €111,583 to €124,896
- Taxes +€3,396
up €3,396 (+16.0%), from €21,260 to €24,655
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €238,536 | €380,622 | +€142,085 | +59.6% |
| Fixed assets | 21/28 | €16,712 | €10,946 | -€5,766 | -34.5% |
| Tangible fixed assets | 22/27 | €16,712 | €10,946 | -€5,766 | -34.5% |
| Plant, machinery and equipment | 23 | €5,673 | €3,672 | -€2,000 | -35.3% |
| Furniture and vehicles | 24 | €6,580 | €3,673 | -€2,906 | -44.2% |
| Other tangible fixed assets | 26 | €4,459 | €3,600 | -€859 | -19.3% |
| Current assets | 29/58 | €221,825 | €369,676 | +€147,851 | +66.7% |
| Amounts receivable within one year | 40/41 | €62,257 | €182,071 | +€119,814 | +192.5% |
| Trade receivables | 40 | €59,125 | €176,477 | +€117,352 | +198.5% |
| Other amounts receivable | 41 | €3,132 | €5,595 | +€2,463 | +78.6% |
| Cash at bank and in hand | 54/58 | €158,552 | €186,318 | +€27,766 | +17.5% |
| Deferred charges and accrued income | 490/1 | €1,015 | €1,286 | +€271 | +26.7% |
| Total equity and liabilities | 10/49 | €238,536 | €380,622 | +€142,085 | +59.6% |
| Equity | 10/15 | €52,965 | €42,712 | -€10,253 | -19.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34,365 | €24,112 | -€10,253 | -29.8% |
| Distributable reserves | 133 | €34,365 | €24,112 | -€10,253 | -29.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €185,571 | €337,910 | +€152,339 | +82.1% |
| Amounts payable after more than one year | 17 | €84,000 | €207,750 | +€123,750 | +147.3% |
| Other amounts payable | 178/9 | €84,000 | €207,750 | +€123,750 | +147.3% |
| Amounts payable within one year | 42/48 | €98,771 | €130,160 | +€31,389 | +31.8% |
| Current portion of amounts payable after more than one year | 42 | €3,794 | €3,772 | -€22 | -0.6% |
| Trade debts | 44 | €2,471 | €3,937 | +€1,467 | +59.4% |
| Suppliers | 440/4 | €2,471 | €3,937 | +€1,467 | +59.4% |
| Taxes, remuneration and social security | 45 | €12,329 | €20,319 | +€7,989 | +64.8% |
| Taxes | 450/3 | €12,329 | €20,319 | +€7,989 | +64.8% |
| Other amounts payable | 47/48 | €80,177 | €102,132 | +€21,955 | +27.4% |
| Accrued charges and deferred income | 492/3 | €2,800 | €0 | -€2,800 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,118 | €5,766 | -€352 | -5.8% |
| Other operating charges | 640/8 | €216 | €221 | +€5 | +2.2% |
| Gross operating margin | 9900 | €111,583 | €124,896 | +€13,313 | +11.9% |
| Operating profit (loss) | 9901 | €105,248 | €118,909 | +€13,660 | +13.0% |
| Financial charges | 65/66B | €608 | €507 | -€102 | -16.7% |
| Recurring financial charges | 65 | €608 | €507 | -€102 | -16.7% |
| Profit (loss) for the period before taxes | 9903 | €104,640 | €118,402 | +€13,762 | +13.2% |
| Income taxes | 67/77 | €21,260 | €24,655 | +€3,396 | +16.0% |
| Profit (loss) for the period | 9904 | €83,380 | €93,747 | +€10,366 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €83,380 | €93,747 | +€10,366 | +12.4% |
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 9 October 2026 via checked.be.