DELCOR: 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.
DELCOR
Largest movements
- Receivables within one year -€98,599
down €98,599 (-48.6%), from €202,814 to €104,215
of which Trade receivables: -€71,756
- Intangible fixed assets -€23,778
down €23,778 (-80.0%), from €29,706 to €5,928
- Cash -€16,244
down €16,244 (-16.2%), from €100,225 to €83,981
mainly Trade debts (-€115,302) and Debts after one year (-€48,807)
- Trade debts -€115,302
down €115,302 (-88.7%), from €129,993 to €14,691
- Debts after one year -€48,807
down €48,807 (-8.6%), from €565,524 to €516,717
- Other debts +€44,384
up €44,384 (+162%), from €27,407 to €71,791
- Short-term financial debts -€16,726
down €16,726 (-76.7%), from €21,818 to €5,093
- Gross operating margin +€72,165
up €72,165 (+39.1%), from €184,756 to €256,921
- Financial charges +€59,733
up €59,733 (+308%), from €19,364 to €79,097
- Depreciation +€12,527
up €12,527 (+30.4%), from €41,198 to €53,725
- Staff costs -€6,944
down €6,944 (-5.8%), from €120,727 to €113,783
- Taxes +€6,843
up €6,843 (+2,137%), from €320 to €7,163
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,029,468 | €887,249 | -€142,219 | -13.8% |
| Fixed assets | 21/28 | €717,035 | €686,062 | -€30,973 | -4.3% |
| Intangible fixed assets | 21 | €29,706 | €5,928 | -€23,778 | -80.0% |
| Tangible fixed assets | 22/27 | €687,195 | €679,999 | -€7,195 | -1.0% |
| Land and buildings | 22 | €681,978 | €675,180 | -€6,799 | -1.0% |
| Plant, machinery and equipment | 23 | €3,764 | €4,088 | +€324 | +8.6% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €1,452 | €731 | -€721 | -49.7% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €312,433 | €201,187 | -€111,246 | -35.6% |
| Stocks and contracts in progress | 3 | €3,953 | €5,062 | +€1,109 | +28.0% |
| Stocks | 30/36 | €3,953 | €5,062 | +€1,109 | +28.0% |
| Amounts receivable within one year | 40/41 | €202,814 | €104,215 | -€98,599 | -48.6% |
| Trade receivables | 40 | €163,124 | €91,367 | -€71,756 | -44.0% |
| Other amounts receivable | 41 | €39,690 | €12,847 | -€26,843 | -67.6% |
| Cash at bank and in hand | 54/58 | €100,225 | €83,981 | -€16,244 | -16.2% |
| Deferred charges and accrued income | 490/1 | €5,441 | €7,930 | +€2,488 | +45.7% |
| Total equity and liabilities | 10/49 | €1,029,468 | €887,249 | -€142,219 | -13.8% |
| Equity | 10/15 | €186,631 | €187,809 | +€1,178 | +0.6% |
| Reserves | 13 | €186,631 | €187,809 | +€1,178 | +0.6% |
| Distributable reserves | 133 | €186,631 | €187,809 | +€1,178 | +0.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €842,837 | €699,440 | -€143,397 | -17.0% |
| Amounts payable after more than one year | 17 | €565,524 | €516,717 | -€48,807 | -8.6% |
| Financial debts | 170/4 | €565,524 | €516,717 | -€48,807 | -8.6% |
| Amounts payable within one year | 42/48 | €277,013 | €182,423 | -€94,591 | -34.1% |
| Current portion of amounts payable after more than one year | 42 | €55,930 | €48,807 | -€7,124 | -12.7% |
| Financial debts | 43 | €21,818 | €5,093 | -€16,726 | -76.7% |
| Other loans | 439 | €21,818 | €5,093 | -€16,726 | -76.7% |
| Trade debts | 44 | €129,993 | €14,691 | -€115,302 | -88.7% |
| Suppliers | 440/4 | €129,993 | €14,691 | -€115,302 | -88.7% |
| Taxes, remuneration and social security | 45 | €41,865 | €42,041 | +€176 | +0.4% |
| Taxes | 450/3 | €14,609 | €16,891 | +€2,282 | +15.6% |
| Remuneration and social security | 454/9 | €27,256 | €25,150 | -€2,106 | -7.7% |
| Other amounts payable | 47/48 | €27,407 | €71,791 | +€44,384 | +162% |
| Accrued charges and deferred income | 492/3 | €300 | €300 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €120,727 | €113,783 | -€6,944 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,198 | €53,725 | +€12,527 | +30.4% |
| Other operating charges | 640/8 | €1,618 | €2,212 | +€595 | +36.8% |
| Gross operating margin | 9900 | €184,756 | €256,921 | +€72,165 | +39.1% |
| Operating profit (loss) | 9901 | €21,213 | €87,201 | +€65,988 | +311% |
| Financial income | 75/76B | €143 | €237 | +€94 | +66.3% |
| Recurring financial income | 75 | €143 | €237 | +€94 | +66.3% |
| Financial charges | 65/66B | €19,364 | €79,097 | +€59,733 | +308% |
| Recurring financial charges | 65 | €19,364 | €79,097 | +€59,733 | +308% |
| Profit (loss) for the period before taxes | 9903 | €1,991 | €8,341 | +€6,349 | +319% |
| Income taxes | 67/77 | €320 | €7,163 | +€6,843 | +2,137% |
| Profit (loss) for the period | 9904 | €1,671 | €1,178 | -€493 | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,671 | €1,178 | -€493 | -29.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.