DELCORPS: 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.
DELCORPS
Largest movements
- Cash +€21,889
up €21,889 (+140.9%), from €15,530 to €37,420
mainly Net result for the year (+€33,185) and Depreciation (+€24,198)
- Tangible fixed assets -€14,998
down €14,998 (-12.9%), from €116,019 to €101,020
of which Land and buildings: -€13,853
- Receivables within one year +€5,420
up €5,420 (+235.7%), from €2,300 to €7,720
- Deferred charges and accrued income -€2,116
no longer reported in 2025 (was €2,116)
- Profit (loss) carried forward +€33,185
up €33,185 (+14.7%), from -€226,039 to -€192,854
- Debts after one year -€15,512
down €15,512 (-7.2%), from €214,369 to €198,857
of which Financial debts: -€14,627
- Trade debts -€9,231
down €9,231 (-94.3%), from €9,792 to €562
- Gross operating margin +€38,294
up €38,294 (+170.5%), from €22,456 to €60,750
- Depreciation +€1,618
up €1,618 (+7.2%), from €22,580 to €24,198
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 | €136,064 | €146,160 | +€10,096 | +7.4% |
| Fixed assets | 21/28 | €116,118 | €101,020 | -€15,097 | -13.0% |
| Tangible fixed assets | 22/27 | €116,019 | €101,020 | -€14,998 | -12.9% |
| Land and buildings | 22 | €89,558 | €75,705 | -€13,853 | -15.5% |
| Plant, machinery and equipment | 23 | €18,426 | €22,926 | +€4,499 | +24.4% |
| Furniture and vehicles | 24 | €8,034 | €2,390 | -€5,644 | -70.3% |
| Financial fixed assets | 28 | €99 | - | -€99 | |
| Current assets | 29/58 | €19,946 | €45,140 | +€25,194 | +126.3% |
| Amounts receivable within one year | 40/41 | €2,300 | €7,720 | +€5,420 | +235.7% |
| Trade receivables | 40 | €2,300 | €7,720 | +€5,420 | +235.7% |
| Cash at bank and in hand | 54/58 | €15,530 | €37,420 | +€21,889 | +140.9% |
| Deferred charges and accrued income | 490/1 | €2,116 | - | -€2,116 | |
| Total equity and liabilities | 10/49 | €136,064 | €146,160 | +€10,096 | +7.4% |
| Equity | 10/15 | -€102,696 | -€69,512 | +€33,185 | +32.3% |
| Contributions | 10/11 | €118,592 | €118,592 | = | 0.0% |
| Outside capital | 11 | €118,592 | €118,592 | = | 0.0% |
| Other | 1109/19 | €118,592 | €118,592 | = | 0.0% |
| Reserves | 13 | €4,750 | €4,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €543 | €543 | = | 0.0% |
| Reserves not available under the articles | 1311 | €543 | €543 | = | 0.0% |
| Distributable reserves | 133 | €4,207 | €4,207 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€226,039 | -€192,854 | +€33,185 | +14.7% |
| Amounts payable | 17/49 | €238,760 | €215,672 | -€23,088 | -9.7% |
| Amounts payable after more than one year | 17 | €214,369 | €198,857 | -€15,512 | -7.2% |
| Financial debts | 170/4 | €74,370 | €59,743 | -€14,627 | -19.7% |
| Other amounts payable | 178/9 | €139,999 | €139,114 | -€885 | -0.6% |
| Amounts payable within one year | 42/48 | €24,391 | €16,815 | -€7,576 | -31.1% |
| Current portion of amounts payable after more than one year | 42 | €14,381 | €14,627 | +€246 | +1.7% |
| Trade debts | 44 | €9,792 | €562 | -€9,231 | -94.3% |
| Suppliers | 440/4 | €9,792 | €562 | -€9,231 | -94.3% |
| Taxes, remuneration and social security | 45 | €218 | €1,626 | +€1,408 | +646.6% |
| Taxes | 450/3 | €218 | €1,626 | +€1,408 | +646.6% |
| Remuneration, social security and pensions | 62 | - | €47 | +€47 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,580 | €24,198 | +€1,618 | +7.2% |
| Other operating charges | 640/8 | €669 | €686 | +€16 | +2.5% |
| Gross operating margin | 9900 | €22,456 | €60,750 | +€38,294 | +170.5% |
| Operating profit (loss) | 9901 | -€793 | €35,819 | +€36,612 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €2,794 | €2,635 | -€160 | -5.7% |
| Recurring financial charges | 65 | €2,794 | €2,635 | -€160 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,588 | €33,185 | +€36,772 | |
| Profit (loss) for the period | 9904 | -€3,588 | €33,185 | +€36,772 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,588 | €33,185 | +€36,772 |
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 2 October 2026 via checked.be.