DELEERS CAMPUS: 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.
DELEERS CAMPUS
Largest movements
- Tangible fixed assets -€59.5m
down €59.5m (-98.7%), from €60.3m to €807,755
of which Assets under construction and advance payments: -€45.1m
- Receivables after one year -€7.4m
no longer reported in 2025 (was €7.4m)
- Cash +€1.8m
up €1.8m (+2,037%), from €89,233 to €1.9m
mainly Investment in fixed assets (net) (+€45.1m) and Depreciation (+€14.4m)
- Current portion of long-term debt -€34.3m
no longer reported in 2025 (was €34.3m)
- Advances received -€16.5m
no longer reported in 2025 (was €16.5m)
- Trade debts -€6.4m
down €6.4m (-77.5%), from €8.2m to €1.8m
- Debts after one year -€4.1m
no longer reported in 2025 (was €4.1m)
- Contributions -€3.7m
down €3.7m (-98.6%), from €3.7m to €50,000
- Turnover +€99.4m
new in 2025: €99.4m
- Depreciation +€14.4m
new in 2025: €14.4m
- Taxes +€3.1m
up €3.1m (+3,690%), from €83,188 to €3.2m
of which Taxes: +€3.1m
- Goods and materials +€1.7m
up €1.7m (+6.4%), from €25.9m to €27.6m
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €67,844,148 | €2,714,478 | -€65.1m | -96.0% |
| Fixed assets | 21/28 | €60,271,932 | €807,755 | -€59.5m | -98.7% |
| Tangible fixed assets | 22/27 | €60,271,932 | €807,755 | -€59.5m | -98.7% |
| Land and buildings | 22 | €15,197,586 | €807,755 | -€14.4m | -94.7% |
| Assets under construction and advance payments | 27 | €45,074,346 | €0 | -€45.1m | -100% |
| Current assets | 29/58 | €7,572,216 | €1,906,724 | -€5.7m | -74.8% |
| Amounts receivable after more than one year | 29 | €7,439,883 | - | -€7.4m | |
| Other amounts receivable | 291 | €7,439,883 | - | -€7.4m | |
| Amounts receivable within one year | 40/41 | €43,100 | - | -€43,100 | |
| Trade receivables | 40 | €43,100 | - | -€43,100 | |
| Cash at bank and in hand | 54/58 | €89,233 | €1,906,724 | +€1.8m | +2,037% |
| Total equity and liabilities | 10/49 | €67,844,148 | €2,714,478 | -€65.1m | -96.0% |
| Equity | 10/15 | €4,058,631 | €865,649 | -€3.2m | -78.7% |
| Contributions | 10/11 | €3,700,000 | €50,000 | -€3.7m | -98.6% |
| Profit (loss) carried forward | 14 | €358,631 | €815,649 | +€457,018 | +127% |
| Amounts payable | 17/49 | €63,785,517 | €1,848,830 | -€61.9m | -97.1% |
| Amounts payable after more than one year | 17 | €4,050,000 | - | -€4.1m | |
| Financial debts | 170/4 | €4,050,000 | - | -€4.1m | |
| Subordinated loans | 170 | €4,050,000 | - | -€4.1m | |
| Amounts payable within one year | 42/48 | €58,968,107 | €1,848,830 | -€57.1m | -96.9% |
| Current portion of amounts payable after more than one year | 42 | €34,271,739 | - | -€34.3m | |
| Trade debts | 44 | €8,212,998 | €1,846,221 | -€6.4m | -77.5% |
| Suppliers | 440/4 | €8,212,998 | €1,846,221 | -€6.4m | -77.5% |
| Advances received on contracts in progress | 46 | €16,481,488 | - | -€16.5m | |
| Taxes, remuneration and social security | 45 | €1,882 | €2,608 | +€727 | +38.6% |
| Taxes | 450/3 | €1,882 | €2,608 | +€727 | +38.6% |
| Accrued charges and deferred income | 492/3 | €767,410 | - | -€767,410 | |
| Operating income | 70/76A | €25,912,403 | €54,302,352 | +€28.4m | +110% |
| Turnover | 70 | - | €99,371,668 | +€99.4m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | -€45,074,346 | -€45.1m | |
| Own construction capitalised | 72 | €25,897,397 | - | -€25.9m | |
| Other operating income | 74 | €15,005 | - | -€15,005 | |
| Non-recurring operating income | 76A | - | €5,030 | +€5,030 | |
| Operating charges | 60/66A | €25,907,128 | €41,973,562 | +€16.1m | +62.0% |
| Goods for resale, raw materials and consumables | 60 | €25,897,397 | €27,566,121 | +€1.7m | +6.4% |
| Purchases | 600/8 | €25,897,397 | €27,566,121 | +€1.7m | +6.4% |
| Services and other goods | 61 | €9,344 | €11,462 | +€2,118 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €14,394,861 | +€14.4m | |
| Other operating charges | 640/8 | €387 | €1,118 | +€731 | +189% |
| Operating profit (loss) | 9901 | €5,275 | €12,328,789 | +€12.3m | +233,642% |
| Financial income | 75/76B | €324,529 | €281,868 | -€42,661 | -13.1% |
| Recurring financial income | 75 | €324,529 | €281,868 | -€42,661 | -13.1% |
| Income from current assets | 751 | €322,484 | €259,654 | -€62,830 | -19.5% |
| Other financial income | 752/9 | €2,045 | €22,214 | +€20,169 | +986% |
| Financial charges | 65/66B | €993 | €1,032 | +€39 | +3.9% |
| Recurring financial charges | 65 | €993 | €1,032 | +€39 | +3.9% |
| Debt charges | 650 | €6 | €1,032 | +€1,026 | +16,409% |
| Other financial charges | 652/9 | €987 | - | -€987 | |
| Profit (loss) for the period before taxes | 9903 | €328,811 | €12,609,625 | +€12.3m | +3,735% |
| Income taxes | 67/77 | €83,188 | €3,152,608 | +€3.1m | +3,690% |
| Taxes | 670/3 | €83,188 | €3,152,608 | +€3.1m | +3,690% |
| Tax adjustments and reversals of tax provisions | 77 | - | €0 | +€0 | |
| Profit (loss) for the period | 9904 | €245,622 | €9,457,018 | +€9.2m | +3,750% |
| Profit (loss) for the period to be appropriated | 9905 | €245,622 | €9,457,018 | +€9.2m | +3,750% |
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 26 October 2026 via checked.be.