DELCOM: 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.
DELCOM
Largest movements
- Tangible fixed assets +€60,837
up €60,837 (+17.7%), from €344,503 to €405,340
of which Land and buildings: +€83,301
- Receivables within one year -€38,564
down €38,564 (-59.2%), from €65,089 to €26,525
of which Other amounts receivable: -€37,719
- Cash +€28,152
up €28,152 (+30.6%), from €91,921 to €120,073
mainly Net result for the year (+€75,695) and Receivables within one year (+€38,564)
- Stocks and contracts -€8,328
down €8,328 (-45.8%), from €18,164 to €9,836
of which Contracts in progress: -€13,918
- Profit (loss) carried forward +€34,518
up €34,518 (+14.6%), from €235,824 to €270,343
- Debts after one year +€15,545
up €15,545 (+6.4%), from €244,115 to €259,660
- Trade debts -€10,717
down €10,717 (-82.5%), from €12,991 to €2,274
- Gross operating margin +€22,026
up €22,026 (+18.4%), from €119,873 to €141,899
- Depreciation +€14,206
up €14,206 (+73.3%), from €19,378 to €33,584
- Financial charges +€7,633
up €7,633 (+84.5%), from €9,031 to €16,664
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 | €523,759 | €565,613 | +€41,854 | +8.0% |
| Fixed assets | 21/28 | €344,503 | €405,340 | +€60,837 | +17.7% |
| Tangible fixed assets | 22/27 | €344,503 | €405,340 | +€60,837 | +17.7% |
| Land and buildings | 22 | €250,571 | €333,872 | +€83,301 | +33.2% |
| Plant, machinery and equipment | 23 | €4,637 | €3,402 | -€1,236 | -26.6% |
| Furniture and vehicles | 24 | €47,253 | €40,626 | -€6,627 | -14.0% |
| Leasing and similar rights | 25 | €42,042 | €27,441 | -€14,601 | -34.7% |
| Current assets | 29/58 | €179,255 | €160,272 | -€18,983 | -10.6% |
| Stocks and contracts in progress | 3 | €18,164 | €9,836 | -€8,328 | -45.8% |
| Stocks | 30/36 | €4,246 | €9,836 | +€5,591 | +131.7% |
| Contracts in progress | 37 | €13,918 | €0 | -€13,918 | -100.0% |
| Amounts receivable within one year | 40/41 | €65,089 | €26,525 | -€38,564 | -59.2% |
| Trade receivables | 40 | €16,013 | €15,169 | -€845 | -5.3% |
| Other amounts receivable | 41 | €49,076 | €11,356 | -€37,719 | -76.9% |
| Cash at bank and in hand | 54/58 | €91,921 | €120,073 | +€28,152 | +30.6% |
| Deferred charges and accrued income | 490/1 | €4,081 | €3,839 | -€243 | -5.9% |
| Total equity and liabilities | 10/49 | €523,759 | €565,613 | +€41,854 | +8.0% |
| Equity | 10/15 | €238,824 | €273,343 | +€34,518 | +14.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €235,824 | €270,343 | +€34,518 | +14.6% |
| Amounts payable | 17/49 | €284,934 | €292,270 | +€7,336 | +2.6% |
| Amounts payable after more than one year | 17 | €244,115 | €259,660 | +€15,545 | +6.4% |
| Financial debts | 170/4 | €244,115 | €259,660 | +€15,545 | +6.4% |
| Amounts payable within one year | 42/48 | €40,819 | €32,610 | -€8,209 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €27,174 | €26,255 | -€918 | -3.4% |
| Trade debts | 44 | €12,991 | €2,274 | -€10,717 | -82.5% |
| Suppliers | 440/4 | €12,991 | €2,274 | -€10,717 | -82.5% |
| Taxes, remuneration and social security | 45 | €0 | €2,706 | +€2,706 | |
| Taxes | 450/3 | €0 | €141 | +€141 | |
| Remuneration and social security | 454/9 | €0 | €2,565 | +€2,565 | |
| Other amounts payable | 47/48 | €655 | €1,375 | +€720 | +110.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,378 | €33,584 | +€14,206 | +73.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €80 | €0 | -€80 | -100.0% |
| Other operating charges | 640/8 | €2,506 | €1,922 | -€583 | -23.3% |
| Gross operating margin | 9900 | €119,873 | €141,899 | +€22,026 | +18.4% |
| Operating profit (loss) | 9901 | €97,909 | €106,392 | +€8,483 | +8.7% |
| Financial income | 75/76B | €2,586 | €3,079 | +€493 | +19.0% |
| Recurring financial income | 75 | €2,586 | €3,079 | +€493 | +19.0% |
| Financial charges | 65/66B | €9,031 | €16,664 | +€7,633 | +84.5% |
| Recurring financial charges | 65 | €9,031 | €16,664 | +€7,633 | +84.5% |
| Profit (loss) for the period before taxes | 9903 | €91,465 | €92,808 | +€1,343 | +1.5% |
| Income taxes | 67/77 | €16,144 | €17,113 | +€969 | +6.0% |
| Profit (loss) for the period | 9904 | €75,321 | €75,695 | +€374 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €75,321 | €75,695 | +€374 | +0.5% |
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.