DELCOVEN: 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.
DELCOVEN
Largest movements
- Receivables within one year -€25,039
down €25,039 (-72.8%), from €34,416 to €9,377
of which Trade receivables: -€27,539
- Tangible fixed assets -€12,248
down €12,248 (-8.8%), from €138,643 to €126,395
- Cash +€8,527
up €8,527 (+50.8%), from €16,773 to €25,300
mainly Receivables within one year (+€25,039) and Depreciation (+€12,248)
- Deferred charges and accrued income -€2,176
no longer reported in 2025 (was €2,176)
- Debts after one year -€15,250
down €15,250 (-14.5%), from €105,480 to €90,230
- Current portion of long-term debt -€4,282
down €4,282 (-21.9%), from €19,532 to €15,250
- Accrued charges and deferred income -€3,620
down €3,620 (-80.4%), from €4,500 to €880
- Tax, wage and social debts -€3,604
down €3,604 (-78.3%), from €4,601 to €996
- Reserves -€1,977
down €1,977 (-4.3%), from €45,484 to €43,507
- Gross operating margin -€12,043
down €12,043 (-39.2%), from €30,708 to €18,665
- Depreciation -€4,860
down €4,860 (-28.4%), from €17,108 to €12,248
- Taxes -€1,867
no longer reported in 2025 (was €1,867)
- Other operating charges +€1,095
up €1,095 (+35.1%), from €3,125 to €4,220
- Financial charges -€730
down €730 (-14.8%), from €4,949 to €4,219
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 | €192,008 | €161,072 | -€30,937 | -16.1% |
| Fixed assets | 21/28 | €138,643 | €126,395 | -€12,248 | -8.8% |
| Tangible fixed assets | 22/27 | €138,643 | €126,395 | -€12,248 | -8.8% |
| Land and buildings | 22 | €138,643 | €126,395 | -€12,248 | -8.8% |
| Current assets | 29/58 | €53,365 | €34,677 | -€18,688 | -35.0% |
| Amounts receivable within one year | 40/41 | €34,416 | €9,377 | -€25,039 | -72.8% |
| Trade receivables | 40 | €34,416 | €6,877 | -€27,539 | -80.0% |
| Other amounts receivable | 41 | - | €2,500 | +€2,500 | |
| Cash at bank and in hand | 54/58 | €16,773 | €25,300 | +€8,527 | +50.8% |
| Deferred charges and accrued income | 490/1 | €2,176 | - | -€2,176 | |
| Total equity and liabilities | 10/49 | €192,008 | €161,072 | -€30,937 | -16.1% |
| Equity | 10/15 | €51,684 | €49,707 | -€1,977 | -3.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €45,484 | €43,507 | -€1,977 | -4.3% |
| Distributable reserves | 133 | €45,484 | €43,507 | -€1,977 | -4.3% |
| Amounts payable | 17/49 | €140,324 | €111,365 | -€28,959 | -20.6% |
| Amounts payable after more than one year | 17 | €105,480 | €90,230 | -€15,250 | -14.5% |
| Financial debts | 170/4 | €105,480 | €90,230 | -€15,250 | -14.5% |
| Amounts payable within one year | 42/48 | €30,344 | €20,255 | -€10,089 | -33.2% |
| Current portion of amounts payable after more than one year | 42 | €19,532 | €15,250 | -€4,282 | -21.9% |
| Trade debts | 44 | €2,534 | €1,556 | -€978 | -38.6% |
| Suppliers | 440/4 | €2,534 | €1,556 | -€978 | -38.6% |
| Taxes, remuneration and social security | 45 | €4,601 | €996 | -€3,604 | -78.3% |
| Taxes | 450/3 | €4,601 | €996 | -€3,604 | -78.3% |
| Other amounts payable | 47/48 | €3,678 | €2,453 | -€1,225 | -33.3% |
| Accrued charges and deferred income | 492/3 | €4,500 | €880 | -€3,620 | -80.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,108 | €12,248 | -€4,860 | -28.4% |
| Other operating charges | 640/8 | €3,125 | €4,220 | +€1,095 | +35.1% |
| Gross operating margin | 9900 | €30,708 | €18,665 | -€12,043 | -39.2% |
| Operating profit (loss) | 9901 | €10,475 | €2,197 | -€8,278 | -79.0% |
| Financial income | 75/76B | - | €44 | +€44 | |
| Recurring financial income | 75 | - | €44 | +€44 | |
| Financial charges | 65/66B | €4,949 | €4,219 | -€730 | -14.8% |
| Recurring financial charges | 65 | €4,949 | €4,219 | -€730 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €5,526 | -€1,977 | -€7,504 | |
| Income taxes | 67/77 | €1,867 | - | -€1,867 | |
| Profit (loss) for the period | 9904 | €3,659 | -€1,977 | -€5,636 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,659 | -€1,977 | -€5,636 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.