DELEHOUZE: 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.
DELEHOUZE
Largest movements
- Tangible fixed assets +€620,996
up €620,996 (+155.6%), from €398,997 to €1.0m
of which Land and buildings: +€537,800
- Receivables within one year -€47,454
down €47,454 (-19.5%), from €243,960 to €196,506
of which Trade receivables: -€60,789
- Cash -€17,945
down €17,945 (-11.3%), from €158,593 to €140,648
mainly Investment in fixed assets (net) (-€776,869) and Contributions, distributions and other (-€64,411)
- Debts after one year +€388,235
up €388,235 (+213.2%), from €182,057 to €570,292
- Profit (loss) carried forward +€75,092
up €75,092 (+26.0%), from €288,758 to €363,850
- Other debts +€37,817
up €37,817 (+157.0%), from €24,091 to €61,908
- Current portion of long-term debt +€21,672
up €21,672 (+24.9%), from €87,077 to €108,749
- Reserves +€20,707
up €20,707 (+13.0%), from €159,293 to €180,000
- Gross operating margin +€80,948
up €80,948 (+19.7%), from €410,984 to €491,932
- Staff costs +€55,767
up €55,767 (+82.4%), from €67,661 to €123,428
- Depreciation +€23,320
up €23,320 (+17.9%), from €130,091 to €153,411
- Taxes -€14,869
down €14,869 (-30.9%), from €48,080 to €33,211
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 | €886,793 | €1,441,083 | +€554,290 | +62.5% |
| Fixed assets | 21/28 | €402,191 | €1,025,649 | +€623,458 | +155.0% |
| Intangible fixed assets | 21 | - | €1,002 | +€1,002 | |
| Tangible fixed assets | 22/27 | €398,997 | €1,019,993 | +€620,996 | +155.6% |
| Land and buildings | 22 | €167,501 | €705,301 | +€537,800 | +321.1% |
| Plant, machinery and equipment | 23 | €60,366 | €115,558 | +€55,192 | +91.4% |
| Furniture and vehicles | 24 | €20,004 | €63,343 | +€43,339 | +216.7% |
| Leasing and similar rights | 25 | €113,519 | €84,881 | -€28,638 | -25.2% |
| Other tangible fixed assets | 26 | €37,607 | €50,910 | +€13,303 | +35.4% |
| Financial fixed assets | 28 | €3,194 | €4,654 | +€1,460 | +45.7% |
| Current assets | 29/58 | €484,602 | €415,434 | -€69,168 | -14.3% |
| Stocks and contracts in progress | 3 | €55,300 | €48,804 | -€6,496 | -11.7% |
| Stocks | 30/36 | €20,300 | €23,054 | +€2,754 | +13.6% |
| Contracts in progress | 37 | €35,000 | €25,750 | -€9,250 | -26.4% |
| Amounts receivable within one year | 40/41 | €243,960 | €196,506 | -€47,454 | -19.5% |
| Trade receivables | 40 | €223,639 | €162,850 | -€60,789 | -27.2% |
| Other amounts receivable | 41 | €20,321 | €33,656 | +€13,335 | +65.6% |
| Cash at bank and in hand | 54/58 | €158,593 | €140,648 | -€17,945 | -11.3% |
| Deferred charges and accrued income | 490/1 | €26,749 | €29,476 | +€2,727 | +10.2% |
| Total equity and liabilities | 10/49 | €886,793 | €1,441,083 | +€554,290 | +62.5% |
| Equity | 10/15 | €471,232 | €564,301 | +€93,069 | +19.8% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €159,293 | €180,000 | +€20,707 | +13.0% |
| Distributable reserves | 133 | €159,293 | €180,000 | +€20,707 | +13.0% |
| Profit (loss) carried forward | 14 | €288,758 | €363,850 | +€75,092 | +26.0% |
| Investment grants | 15 | €2,730 | - | -€2,730 | |
| Amounts payable | 17/49 | €415,561 | €876,782 | +€461,221 | +111.0% |
| Amounts payable after more than one year | 17 | €182,057 | €570,292 | +€388,235 | +213.2% |
| Financial debts | 170/4 | €182,057 | €570,292 | +€388,235 | +213.2% |
| Amounts payable within one year | 42/48 | €233,504 | €306,490 | +€72,986 | +31.3% |
| Current portion of amounts payable after more than one year | 42 | €87,077 | €108,749 | +€21,672 | +24.9% |
| Trade debts | 44 | €87,436 | €95,749 | +€8,313 | +9.5% |
| Suppliers | 440/4 | €87,436 | €95,749 | +€8,313 | +9.5% |
| Taxes, remuneration and social security | 45 | €34,900 | €40,084 | +€5,184 | +14.9% |
| Taxes | 450/3 | €18,553 | €16,090 | -€2,463 | -13.3% |
| Remuneration and social security | 454/9 | €16,347 | €23,994 | +€7,647 | +46.8% |
| Other amounts payable | 47/48 | €24,091 | €61,908 | +€37,817 | +157.0% |
| Remuneration, social security and pensions | 62 | €67,661 | €123,428 | +€55,767 | +82.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,091 | €153,411 | +€23,320 | +17.9% |
| Other operating charges | 640/8 | €8,395 | €12,102 | +€3,707 | +44.2% |
| Non-recurring operating charges | 66A | - | €360 | +€360 | |
| Gross operating margin | 9900 | €410,984 | €491,932 | +€80,948 | +19.7% |
| Operating profit (loss) | 9901 | €204,837 | €202,631 | -€2,206 | -1.1% |
| Financial income | 75/76B | €3,590 | €3,834 | +€244 | +6.8% |
| Recurring financial income | 75 | €3,590 | €3,834 | +€244 | +6.8% |
| Financial charges | 65/66B | €10,970 | €15,774 | +€4,804 | +43.8% |
| Recurring financial charges | 65 | €10,970 | €15,774 | +€4,804 | +43.8% |
| Profit (loss) for the period before taxes | 9903 | €197,457 | €190,691 | -€6,766 | -3.4% |
| Income taxes | 67/77 | €48,080 | €33,211 | -€14,869 | -30.9% |
| Profit (loss) for the period | 9904 | €149,377 | €157,480 | +€8,103 | +5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €149,377 | €157,480 | +€8,103 | +5.4% |
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 8 October 2026 via checked.be.