DELEA'S: 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.
DELEA'S
Largest movements
- Tangible fixed assets -€461,976
down €461,976 (-98.3%), from €469,919 to €7,942
of which Plant, machinery and equipment: -€467,302
- Intangible fixed assets -€35,002
no longer reported in 2025 (was €35,002)
- Cash -€28,321
down €28,321 (-25.6%), from €110,843 to €82,522
mainly Net result for the year (-€435,067) and Debts after one year (-€181,937)
- Stocks and contracts +€13,578
up €13,578 (+21.0%), from €64,761 to €78,339
- Profit (loss) carried forward -€435,067
down €435,067 (-1257.4%), from -€34,600 to -€469,667
- Debts after one year -€181,937
down €181,937 (-46.4%), from €391,937 to €210,000
- Trade debts +€130,421
up €130,421 (+81.2%), from €160,619 to €291,040
- Current portion of long-term debt -€22,050
down €22,050 (-30.5%), from €72,253 to €50,203
- Other operating charges +€314,570
up €314,570 (+4144.5%), from €7,590 to €322,160
- Gross operating margin -€151,234
down €151,234 (-43.2%), from €350,087 to €198,853
- Depreciation -€76,537
down €76,537 (-94.9%), from €80,662 to €4,125
- Financial charges -€15,308
down €15,308 (-36.0%), from €42,505 to €27,196
- Staff costs -€8,529
down €8,529 (-3.4%), from €253,738 to €245,209
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 | €714,697 | €206,151 | -€508,547 | -71.2% |
| Formation expenses | 20 | €12,222 | €9,724 | -€2,498 | -20.4% |
| Fixed assets | 21/28 | €504,921 | €7,942 | -€496,979 | -98.4% |
| Intangible fixed assets | 21 | €35,002 | - | -€35,002 | |
| Tangible fixed assets | 22/27 | €469,919 | €7,942 | -€461,976 | -98.3% |
| Plant, machinery and equipment | 23 | €469,919 | €2,616 | -€467,302 | -99.4% |
| Furniture and vehicles | 24 | - | €5,326 | +€5,326 | |
| Current assets | 29/58 | €197,554 | €188,484 | -€9,070 | -4.6% |
| Stocks and contracts in progress | 3 | €64,761 | €78,339 | +€13,578 | +21.0% |
| Stocks | 30/36 | €64,761 | €78,339 | +€13,578 | +21.0% |
| Amounts receivable within one year | 40/41 | €18,175 | €17,155 | -€1,019 | -5.6% |
| Trade receivables | 40 | €18,175 | €15,518 | -€2,657 | -14.6% |
| Other amounts receivable | 41 | - | €1,637 | +€1,637 | |
| Cash at bank and in hand | 54/58 | €110,843 | €82,522 | -€28,321 | -25.6% |
| Deferred charges and accrued income | 490/1 | €3,775 | €10,467 | +€6,692 | +177.3% |
| Total equity and liabilities | 10/49 | €714,697 | €206,151 | -€508,547 | -71.2% |
| Equity | 10/15 | €65,400 | -€369,667 | -€435,067 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,600 | -€469,667 | -€435,067 | -1257.4% |
| Amounts payable | 17/49 | €649,297 | €575,818 | -€73,480 | -11.3% |
| Amounts payable after more than one year | 17 | €391,937 | €210,000 | -€181,937 | -46.4% |
| Financial debts | 170/4 | €391,937 | €210,000 | -€181,937 | -46.4% |
| Amounts payable within one year | 42/48 | €257,090 | €365,818 | +€108,728 | +42.3% |
| Current portion of amounts payable after more than one year | 42 | €72,253 | €50,203 | -€22,050 | -30.5% |
| Trade debts | 44 | €160,619 | €291,040 | +€130,421 | +81.2% |
| Suppliers | 440/4 | €160,619 | €291,040 | +€130,421 | +81.2% |
| Taxes, remuneration and social security | 45 | €24,219 | €23,730 | -€488 | -2.0% |
| Taxes | 450/3 | €1,262 | €550 | -€712 | -56.4% |
| Remuneration and social security | 454/9 | €22,957 | €23,180 | +€223 | +1.0% |
| Other amounts payable | 47/48 | - | €846 | +€846 | |
| Accrued charges and deferred income | 492/3 | €270 | - | -€270 | |
| Remuneration, social security and pensions | 62 | €253,738 | €245,209 | -€8,529 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,662 | €4,125 | -€76,537 | -94.9% |
| Other operating charges | 640/8 | €7,590 | €322,160 | +€314,570 | +4144.5% |
| Non-recurring operating charges | 66A | - | €35,119 | +€35,119 | |
| Gross operating margin | 9900 | €350,087 | €198,853 | -€151,234 | -43.2% |
| Operating profit (loss) | 9901 | €8,096 | -€407,760 | -€415,857 | |
| Financial income | 75/76B | €186 | €68 | -€119 | -63.7% |
| Recurring financial income | 75 | €186 | €68 | -€119 | -63.7% |
| Financial charges | 65/66B | €42,505 | €27,196 | -€15,308 | -36.0% |
| Recurring financial charges | 65 | €42,505 | €27,196 | -€15,308 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | -€34,222 | -€434,889 | -€400,667 | -1170.8% |
| Income taxes | 67/77 | €378 | €178 | -€200 | -53.0% |
| Profit (loss) for the period | 9904 | -€34,600 | -€435,067 | -€400,467 | -1157.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,600 | -€435,067 | -€400,467 | -1157.4% |
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 30 September 2026 via checked.be.