DELCROIX: 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.
What changed
DELCROIX
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€46,192
2024 · -€58,041+€104,233
Equity
€320,295
2024 · €276,115+€44,180
Cash
€84,304
2024 · €71,198+€13,107
Balance sheet total
€2.7m
2024 · €2.0m+€723,640
Largest movements
Assets
- Tangible fixed assets +€484,318
up €484,318 (+40.6%), from €1.2m to €1.7m
of which Plant, machinery and equipment: +€659,892
- Receivables within one year +€228,722
up €228,722 (+33.9%), from €675,633 to €904,355
of which Other amounts receivable: +€125,898
Equity and liabilities
- Trade debts +€871,937
up €871,937 (+427%), from €204,380 to €1.1m
- Debts after one year -€156,039
down €156,039 (-14.5%), from €1.1m to €920,749
of which Financial debts: -€206,023
- Reserves +€46,192
up €46,192 (+19.9%), from €232,668 to €278,860
of which Distributable reserves: +€46,192
- Current portion of long-term debt -€39,327
down €39,327 (-12.4%), from €318,424 to €279,097
Income statement
- Gross operating margin +€92,805
up €92,805 (+11.8%), from €785,471 to €878,275
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
-€58,041
Gross operating margin
+€92,805
Staff costs
+€1,388
Depreciation
+€6,113
Other operating charges
+€4,926
Financial income
+€996
Financial charges
+€499
Deferred taxes and other
-€2,495
Result 2025
€46,192
raises the resultnot broken down further in the accounts
Derived cash bridge
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
+€1.0m
Investment
-€832,383
Financing
-€175,477
Cash 2024
€71,198
From operations (derived)
+€1.0m
Net result for the year
+€46,192
Depreciation
+€347,930
Receivables within one year
-€228,722
Deferred charges and accrued income
+€2,642
Trade debts
+€871,937
Tax, wage and social debts
-€19,012
Investment (derived)
-€832,383
Investment in fixed assets (net)
-€832,383
Financing
-€175,477
Debts after one year
-€156,039
Current portion of long-term debt
-€39,327
Short-term financial debts
+€21,900
Contributions, distributions and other
-€2,012
Cash 2025
€84,304
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,980,214 | €2,703,854 | +€723,640 | +36.5% |
| Fixed assets | 21/28 | €1,195,226 | €1,679,679 | +€484,453 | +40.5% |
| Tangible fixed assets | 22/27 | €1,193,306 | €1,677,624 | +€484,318 | +40.6% |
| Land and buildings | 22 | €329,399 | €304,158 | -€25,241 | -7.7% |
| Plant, machinery and equipment | 23 | €271,453 | €931,345 | +€659,892 | +243% |
| Furniture and vehicles | 24 | €181,134 | €171,880 | -€9,255 | -5.1% |
| Leasing and similar rights | 25 | €403,821 | €263,977 | -€139,844 | -34.6% |
| Other tangible fixed assets | 26 | €7,499 | €6,265 | -€1,234 | -16.5% |
| Financial fixed assets | 28 | €1,920 | €2,055 | +€135 | +7.0% |
| Current assets | 29/58 | €784,987 | €1,024,174 | +€239,187 | +30.5% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €675,633 | €904,355 | +€228,722 | +33.9% |
| Trade receivables | 40 | €674,123 | €776,947 | +€102,824 | +15.3% |
| Other amounts receivable | 41 | €1,510 | €127,408 | +€125,898 | +8,339% |
| Current investments | 50/53 | €24,789 | €24,789 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €71,198 | €84,304 | +€13,107 | +18.4% |
| Deferred charges and accrued income | 490/1 | €10,868 | €8,226 | -€2,642 | -24.3% |
| Total equity and liabilities | 10/49 | €1,980,214 | €2,703,854 | +€723,640 | +36.5% |
| Equity | 10/15 | €276,115 | €320,295 | +€44,180 | +16.0% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €232,668 | €278,860 | +€46,192 | +19.9% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,378 | €32,378 | = | 0.0% |
| Distributable reserves | 133 | €197,192 | €243,384 | +€46,192 | +23.4% |
| Investment grants | 15 | €12,461 | €10,449 | -€2,012 | -16.1% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €1,704,099 | €2,383,558 | +€679,460 | +39.9% |
| Amounts payable after more than one year | 17 | €1,076,788 | €920,749 | -€156,039 | -14.5% |
| Financial debts | 170/4 | €885,424 | €679,401 | -€206,023 | -23.3% |
| Other amounts payable | 178/9 | €191,364 | €241,349 | +€49,984 | +26.1% |
| Amounts payable within one year | 42/48 | €627,311 | €1,462,809 | +€835,498 | +133% |
| Current portion of amounts payable after more than one year | 42 | €318,424 | €279,097 | -€39,327 | -12.4% |
| Financial debts | 43 | €48,100 | €70,000 | +€21,900 | +45.5% |
| Credit institutions | 430/8 | €48,100 | €70,000 | +€21,900 | +45.5% |
| Trade debts | 44 | €204,380 | €1,076,318 | +€871,937 | +427% |
| Suppliers | 440/4 | €204,380 | €1,076,318 | +€871,937 | +427% |
| Taxes, remuneration and social security | 45 | €56,407 | €37,395 | -€19,012 | -33.7% |
| Taxes | 450/3 | €19,185 | €0 | -€19,185 | -100% |
| Remuneration and social security | 454/9 | €37,221 | €37,395 | +€174 | +0.5% |
| Non-recurring operating income | 76A | €16,312 | €110,000 | +€93,688 | +574% |
| Remuneration, social security and pensions | 62 | €335,949 | €334,561 | -€1,388 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €354,043 | €347,930 | -€6,113 | -1.7% |
| Other operating charges | 640/8 | €103,931 | €99,004 | -€4,926 | -4.7% |
| Gross operating margin | 9900 | €785,471 | €878,275 | +€92,805 | +11.8% |
| Operating profit (loss) | 9901 | -€8,452 | €96,780 | +€105,232 | |
| Financial income | 75/76B | €2,499 | €3,495 | +€996 | +39.9% |
| Recurring financial income | 75 | €2,499 | €3,495 | +€996 | +39.9% |
| Financial charges | 65/66B | €54,582 | €54,083 | -€499 | -0.9% |
| Recurring financial charges | 65 | €54,582 | €54,083 | -€499 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | -€60,536 | €46,192 | +€106,728 | |
| Transfer from deferred taxes | 780 | €2,495 | €0 | -€2,495 | -100% |
| Profit (loss) for the period | 9904 | -€58,041 | €46,192 | +€104,233 | |
| Transfer from tax-exempt reserves | 789 | €5,939 | €0 | -€5,939 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€52,102 | €46,192 | +€98,294 |
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 21 October 2026 via checked.be.