DELEKTRO: 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.
What changed
DELEKTRO
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€135,590
2024 · €130,120+€5,470
Equity
€581,818
2024 · €597,061-€15,243
Cash
€362,037
2024 · €213,278+€148,759
Balance sheet total
€2.9m
2024 · €2.2m+€638,534
Largest movements
Assets
- Stocks and contracts +€484,299
up €484,299 (+60.7%), from €797,314 to €1.3m
of which Contracts in progress: +€521,277
- Cash +€148,759
up €148,759 (+69.7%), from €213,278 to €362,037
mainly Other debts (+€578,722) and Net result for the year (+€135,590)
- Tangible fixed assets -€45,906
down €45,906 (-14.7%), from €312,228 to €266,322
- Receivables within one year +€30,745
up €30,745 (+3.4%), from €904,280 to €935,025
of which Trade receivables: +€147,757
Equity and liabilities
- Other debts +€578,722
up €578,722 (+176.2%), from €328,431 to €907,153
- Short-term financial debts +€73,167
up €73,167 (+29.9%), from €244,612 to €317,778
- Debts after one year -€60,594
down €60,594 (-34.3%), from €176,476 to €115,882
- Trade debts +€38,202
up €38,202 (+6.0%), from €638,553 to €676,755
- Tax, wage and social debts +€37,240
up €37,240 (+20.5%), from €181,428 to €218,667
of which Taxes: +€43,779
Income statement
- Depreciation +€16,148
up €16,148 (+17.6%), from €91,969 to €108,117
- Financial charges -€13,407
down €13,407 (-19.8%), from €67,593 to €54,186
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
€130,120
Gross operating margin
-€5,317
Staff costs
-€8,867
Depreciation
-€16,148
Other operating charges
+€1,433
Financial income
-€1,641
Financial charges
+€13,407
Taxes
-€141
Deferred taxes and other
+€22,745
Result 2025
€135,590
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.
From operations
+€354,262
Investment
-€62,211
Financing
-€143,291
Cash 2024
€213,278
From operations (derived)
+€354,262
Net result for the year
+€135,590
Depreciation
+€108,117
Stocks and contracts
-€484,299
Receivables within one year
-€30,745
Deferred charges and accrued income
-€20,637
Provisions
-€10,129
Trade debts
+€38,202
Tax, wage and social debts
+€37,240
Other debts
+€578,722
Accrued charges and deferred income
+€2,201
Investment (derived)
-€62,211
Investment in fixed assets (net)
-€62,211
Financing
-€143,291
Debts after one year
-€60,594
Current portion of long-term debt
-€5,031
Short-term financial debts
+€73,167
Contributions, distributions and other
-€150,833
Cash 2025
€362,037
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,249,862 | €2,888,395 | +€638,534 | +28.4% |
| Fixed assets | 21/28 | €312,228 | €266,322 | -€45,906 | -14.7% |
| Tangible fixed assets | 22/27 | €312,228 | €266,322 | -€45,906 | -14.7% |
| Plant, machinery and equipment | 23 | €54,635 | €42,468 | -€12,168 | -22.3% |
| Furniture and vehicles | 24 | €232,930 | €211,636 | -€21,294 | -9.1% |
| Leasing and similar rights | 25 | €24,437 | €12,218 | -€12,219 | -50.0% |
| Other tangible fixed assets | 26 | €225 | €0 | -€225 | -100.0% |
| Current assets | 29/58 | €1,937,634 | €2,622,073 | +€684,440 | +35.3% |
| Stocks and contracts in progress | 3 | €797,314 | €1,281,613 | +€484,299 | +60.7% |
| Stocks | 30/36 | €389,288 | €352,310 | -€36,978 | -9.5% |
| Contracts in progress | 37 | €408,026 | €929,303 | +€521,277 | +127.8% |
| Amounts receivable within one year | 40/41 | €904,280 | €935,025 | +€30,745 | +3.4% |
| Trade receivables | 40 | €632,068 | €779,826 | +€147,757 | +23.4% |
| Other amounts receivable | 41 | €272,212 | €155,200 | -€117,012 | -43.0% |
| Cash at bank and in hand | 54/58 | €213,278 | €362,037 | +€148,759 | +69.7% |
| Deferred charges and accrued income | 490/1 | €22,761 | €43,398 | +€20,637 | +90.7% |
| Total equity and liabilities | 10/49 | €2,249,862 | €2,888,395 | +€638,534 | +28.4% |
| Equity | 10/15 | €597,061 | €581,818 | -€15,243 | -2.6% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €231,398 | €211,727 | -€19,671 | -8.5% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Tax-exempt reserves | 132 | €41,693 | €22,022 | -€19,671 | -47.2% |
| Distributable reserves | 133 | €187,830 | €187,830 | = | 0.0% |
| Profit (loss) carried forward | 14 | €346,913 | €351,341 | +€4,428 | +1.3% |
| Provisions and deferred taxes | 16 | €12,616 | €2,487 | -€10,129 | -80.3% |
| Deferred taxes | 168 | €12,616 | €2,487 | -€10,129 | -80.3% |
| Amounts payable | 17/49 | €1,640,184 | €2,304,091 | +€663,906 | +40.5% |
| Amounts payable after more than one year | 17 | €176,476 | €115,882 | -€60,594 | -34.3% |
| Financial debts | 170/4 | €176,476 | €115,882 | -€60,594 | -34.3% |
| Amounts payable within one year | 42/48 | €1,459,910 | €2,182,208 | +€722,299 | +49.5% |
| Current portion of amounts payable after more than one year | 42 | €66,886 | €61,855 | -€5,031 | -7.5% |
| Financial debts | 43 | €244,612 | €317,778 | +€73,167 | +29.9% |
| Credit institutions | 430/8 | €244,612 | €317,778 | +€73,167 | +29.9% |
| Trade debts | 44 | €638,553 | €676,755 | +€38,202 | +6.0% |
| Suppliers | 440/4 | €638,553 | €676,755 | +€38,202 | +6.0% |
| Taxes, remuneration and social security | 45 | €181,428 | €218,667 | +€37,240 | +20.5% |
| Taxes | 450/3 | €43,569 | €87,347 | +€43,779 | +100.5% |
| Remuneration and social security | 454/9 | €137,859 | €131,320 | -€6,539 | -4.7% |
| Other amounts payable | 47/48 | €328,431 | €907,153 | +€578,722 | +176.2% |
| Accrued charges and deferred income | 492/3 | €3,799 | €6,000 | +€2,201 | +57.9% |
| Non-recurring operating income | 76A | €72,762 | €0 | -€72,762 | -100.0% |
| Remuneration, social security and pensions | 62 | €966,327 | €975,194 | +€8,867 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,969 | €108,117 | +€16,148 | +17.6% |
| Other operating charges | 640/8 | €18,904 | €17,472 | -€1,433 | -7.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,293,725 | €1,288,408 | -€5,317 | -0.4% |
| Operating profit (loss) | 9901 | €216,524 | €187,625 | -€28,899 | -13.3% |
| Financial income | 75/76B | €9,539 | €7,898 | -€1,641 | -17.2% |
| Recurring financial income | 75 | €9,539 | €7,898 | -€1,641 | -17.2% |
| Financial charges | 65/66B | €67,593 | €54,186 | -€13,407 | -19.8% |
| Recurring financial charges | 65 | €67,593 | €54,186 | -€13,407 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €158,471 | €141,337 | -€17,134 | -10.8% |
| Transfer from deferred taxes | 780 | €3,634 | €10,129 | +€6,495 | +178.7% |
| Transfer to deferred taxes | 680 | €16,250 | €0 | -€16,250 | -100.0% |
| Income taxes | 67/77 | €15,735 | €15,876 | +€141 | +0.9% |
| Profit (loss) for the period | 9904 | €130,120 | €135,590 | +€5,470 | +4.2% |
| Transfer from tax-exempt reserves | 789 | €7,057 | €19,671 | +€12,614 | +178.7% |
| Transfer to tax-exempt reserves | 689 | €48,750 | €0 | -€48,750 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €88,427 | €155,261 | +€66,834 | +75.6% |
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 9 October 2026 via checked.be.