DELCOU: 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.
What changed
DELCOU
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€9,456
2024 · -€46,358+€55,813
Equity
€524,164
2024 · €514,708+€9,456
Cash
€108,929
2024 · €88,447+€20,482
Balance sheet total
€2.1m
2024 · €1.9m+€221,133
Largest movements
Assets
- Receivables within one year +€286,449
up €286,449 (+51.1%), from €560,544 to €846,993
of which Other amounts receivable: +€194,857
- Tangible fixed assets -€156,018
down €156,018 (-19.2%), from €812,247 to €656,229
of which Plant, machinery and equipment: -€106,042
- Stocks and contracts +€61,885
up €61,885 (+20.1%), from €307,681 to €369,566
Equity and liabilities
- Accrued charges and deferred income +€261,110
up €261,110 (+290.1%), from €90,000 to €351,110
- Debts after one year -€100,810
down €100,810 (-42.5%), from €237,345 to €136,534
- Trade debts +€47,144
up €47,144 (+10.3%), from €459,321 to €506,465
- Other debts -€25,660
down €25,660 (-9.2%), from €278,763 to €253,103
Income statement
- Gross operating margin +€57,254
up €57,254 (+10.4%), from €549,430 to €606,684
- Provisions -€11,000
down €11,000, from €8,000 to -€3,000
- Depreciation +€7,838
up €7,838 (+4.8%), from €161,988 to €169,826
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.
Result 2024
-€46,358
Gross operating margin
+€57,254
Staff costs
-€5,700
Depreciation
-€7,838
Provisions
+€11,000
Other operating charges
+€396
Financial income
+€1,494
Financial charges
+€1,840
Taxes
-€2,633
Result 2025
€9,456
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.
From operations
+€118,236
Investment
-€20,236
Financing
-€77,517
Cash 2024
€88,447
From operations (derived)
+€118,236
Net result for the year
+€9,456
Depreciation
+€169,826
Stocks and contracts
-€61,885
Receivables within one year
-€286,449
Deferred charges and accrued income
-€1,906
Provisions
-€3,000
Trade debts
+€47,144
Tax, wage and social debts
+€9,600
Other debts
-€25,660
Accrued charges and deferred income
+€261,110
Investment (derived)
-€20,236
Investment in fixed assets (net)
-€23,236
Current investments
+€3,000
Financing
-€77,517
Debts after one year
-€100,810
Current portion of long-term debt
+€6,388
Short-term financial debts
+€16,905
Cash 2025
€108,929
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,879,036 | €2,100,169 | +€221,133 | +11.8% |
| Fixed assets | 21/28 | €911,317 | €764,728 | -€146,589 | -16.1% |
| Tangible fixed assets | 22/27 | €812,247 | €656,229 | -€156,018 | -19.2% |
| Land and buildings | 22 | €61,209 | €32,378 | -€28,831 | -47.1% |
| Plant, machinery and equipment | 23 | €408,368 | €302,326 | -€106,042 | -26.0% |
| Furniture and vehicles | 24 | €57,018 | €55,639 | -€1,379 | -2.4% |
| Leasing and similar rights | 25 | €285,652 | €265,886 | -€19,766 | -6.9% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €99,070 | €108,498 | +€9,428 | +9.5% |
| Current assets | 29/58 | €967,719 | €1,335,441 | +€367,722 | +38.0% |
| Stocks and contracts in progress | 3 | €307,681 | €369,566 | +€61,885 | +20.1% |
| Stocks | 30/36 | €307,681 | €369,566 | +€61,885 | +20.1% |
| Amounts receivable within one year | 40/41 | €560,544 | €846,993 | +€286,449 | +51.1% |
| Trade receivables | 40 | €47,581 | €139,172 | +€91,591 | +192.5% |
| Other amounts receivable | 41 | €512,963 | €707,820 | +€194,857 | +38.0% |
| Current investments | 50/53 | €8,000 | €5,000 | -€3,000 | -37.5% |
| Cash at bank and in hand | 54/58 | €88,447 | €108,929 | +€20,482 | +23.2% |
| Deferred charges and accrued income | 490/1 | €3,047 | €4,953 | +€1,906 | +62.6% |
| Total equity and liabilities | 10/49 | €1,879,036 | €2,100,169 | +€221,133 | +11.8% |
| Equity | 10/15 | €514,708 | €524,164 | +€9,456 | +1.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €47,500 | €47,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €367,208 | €376,664 | +€9,456 | +2.6% |
| Provisions and deferred taxes | 16 | €8,000 | €5,000 | -€3,000 | -37.5% |
| Provisions for liabilities and charges | 160/5 | €8,000 | €5,000 | -€3,000 | -37.5% |
| Other liabilities and charges | 164/5 | €8,000 | €5,000 | -€3,000 | -37.5% |
| Amounts payable | 17/49 | €1,356,328 | €1,571,005 | +€214,677 | +15.8% |
| Amounts payable after more than one year | 17 | €237,345 | €136,534 | -€100,810 | -42.5% |
| Financial debts | 170/4 | €237,345 | €136,534 | -€100,810 | -42.5% |
| Amounts payable within one year | 42/48 | €1,028,984 | €1,083,361 | +€54,377 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €97,744 | €104,131 | +€6,388 | +6.5% |
| Financial debts | 43 | €92,776 | €109,682 | +€16,905 | +18.2% |
| Credit institutions | 430/8 | €92,776 | €109,682 | +€16,905 | +18.2% |
| Trade debts | 44 | €459,321 | €506,465 | +€47,144 | +10.3% |
| Suppliers | 440/4 | €459,321 | €506,465 | +€47,144 | +10.3% |
| Taxes, remuneration and social security | 45 | €100,380 | €109,980 | +€9,600 | +9.6% |
| Taxes | 450/3 | €18,389 | €30,549 | +€12,160 | +66.1% |
| Remuneration and social security | 454/9 | €81,990 | €79,430 | -€2,560 | -3.1% |
| Other amounts payable | 47/48 | €278,763 | €253,103 | -€25,660 | -9.2% |
| Accrued charges and deferred income | 492/3 | €90,000 | €351,110 | +€261,110 | +290.1% |
| Non-recurring operating income | 76A | €0 | €9,223 | +€9,223 | |
| Remuneration, social security and pensions | 62 | €398,534 | €404,234 | +€5,700 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161,988 | €169,826 | +€7,838 | +4.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €8,000 | -€3,000 | -€11,000 | |
| Other operating charges | 640/8 | €1,931 | €1,535 | -€396 | -20.5% |
| Gross operating margin | 9900 | €549,430 | €606,684 | +€57,254 | +10.4% |
| Operating profit (loss) | 9901 | -€21,023 | €34,089 | +€55,113 | |
| Financial income | 75/76B | €3,850 | €5,344 | +€1,494 | +38.8% |
| Recurring financial income | 75 | €3,850 | €5,344 | +€1,494 | +38.8% |
| Financial charges | 65/66B | €27,832 | €25,993 | -€1,840 | -6.6% |
| Recurring financial charges | 65 | €27,832 | €25,993 | -€1,840 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | -€45,006 | €13,440 | +€58,446 | |
| Income taxes | 67/77 | €1,352 | €3,985 | +€2,633 | +194.7% |
| Profit (loss) for the period | 9904 | -€46,358 | €9,456 | +€55,813 | |
| Profit (loss) for the period to be appropriated | 9905 | -€46,358 | €9,456 | +€55,813 |
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 5 October 2026 via checked.be.