Delem Properties: 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
Delem Properties
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€377,938
2024 · €374,743+€3,195
Equity
€17.9m
2024 · €5.2m+€12.7m
Cash
€126,541
2024 · €126,715-€174
Balance sheet total
€24.0m
2024 · €11.3m+€12.8m
Largest movements
Assets
- Tangible fixed assets +€11.8m
up €11.8m (+106.1%), from €11.1m to €22.9m
- Financial fixed assets +€1.0m
new in 2025: €1.0m
Equity and liabilities
- Revaluation surpluses +€12.3m
new in 2025: €12.3m
- Reserves +€377,938
up €377,938 (+28.2%), from €1.3m to €1.7m
of which Distributable reserves: +€567,388
Income statement
- Taxes +€52,037
up €52,037 (+34.8%), from €149,627 to €201,664
- Financial charges -€49,328
down €49,328 (-21.4%), from €230,592 to €181,264
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
€374,743
Gross operating margin
+€12,397
Other operating charges
-€10,088
Financial income
+€3,596
Financial charges
+€49,328
Taxes
-€52,037
Result 2025
€377,938
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
+€1.0m
Investment
-€13.3m
Financing
+€12.3m
Cash 2024
€126,715
From operations (derived)
+€1.0m
Net result for the year
+€377,938
Depreciation
+€532,941
Smaller working-capital items
-€932
Tax, wage and social debts
+€56,414
Other debts
+€80,802
Investment (derived)
-€13.3m
Investment in fixed assets (net)
-€13.3m
Financing
+€12.3m
Debts after one year
-€47,337
Contributions, distributions and other
+€12.3m
Cash 2025
€126,541
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,270,404 | €24,032,670 | +€12.8m | +113.2% |
| Fixed assets | 21/28 | €11,092,691 | €23,859,749 | +€12.8m | +115.1% |
| Tangible fixed assets | 22/27 | €11,092,691 | €22,859,749 | +€11.8m | +106.1% |
| Land and buildings | 22 | €11,092,691 | €22,859,749 | +€11.8m | +106.1% |
| Financial fixed assets | 28 | - | €1,000,000 | +€1.0m | |
| Current assets | 29/58 | €177,713 | €172,921 | -€4,792 | -2.7% |
| Amounts receivable within one year | 40/41 | €31,764 | €12,602 | -€19,162 | -60.3% |
| Trade receivables | 40 | €31,764 | €12,602 | -€19,162 | -60.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €126,715 | €126,541 | -€174 | -0.1% |
| Deferred charges and accrued income | 490/1 | €19,235 | €33,778 | +€14,543 | +75.6% |
| Total equity and liabilities | 10/49 | €11,270,404 | €24,032,670 | +€12.8m | +113.2% |
| Equity | 10/15 | €5,226,660 | €17,904,598 | +€12.7m | +242.6% |
| Contributions | 10/11 | €3,885,000 | €3,885,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €12,300,000 | +€12.3m | |
| Reserves | 13 | €1,341,660 | €1,719,598 | +€377,938 | +28.2% |
| Tax-exempt reserves | 132 | €505,200 | €315,750 | -€189,450 | -37.5% |
| Distributable reserves | 133 | €836,460 | €1,403,848 | +€567,388 | +67.8% |
| Amounts payable | 17/49 | €6,043,744 | €6,128,072 | +€84,328 | +1.4% |
| Amounts payable after more than one year | 17 | €3,610,909 | €3,563,571 | -€47,337 | -1.3% |
| Financial debts | 170/4 | €3,610,909 | €3,563,571 | -€47,337 | -1.3% |
| Amounts payable within one year | 42/48 | €2,245,978 | €2,382,477 | +€136,499 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €747,337 | €747,337 | = | 0.0% |
| Trade debts | 44 | €960 | €242 | -€718 | -74.8% |
| Suppliers | 440/4 | €960 | €242 | -€718 | -74.8% |
| Taxes, remuneration and social security | 45 | €34,623 | €91,037 | +€56,414 | +162.9% |
| Taxes | 450/3 | €34,623 | €91,037 | +€56,414 | +162.9% |
| Other amounts payable | 47/48 | €1,463,058 | €1,543,860 | +€80,802 | +5.5% |
| Accrued charges and deferred income | 492/3 | €186,857 | €182,024 | -€4,833 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €532,941 | €532,941 | = | 0.0% |
| Other operating charges | 640/8 | €137,213 | €147,301 | +€10,088 | +7.4% |
| Gross operating margin | 9900 | €1,421,562 | €1,433,959 | +€12,397 | +0.9% |
| Operating profit (loss) | 9901 | €751,408 | €753,717 | +€2,309 | +0.3% |
| Financial income | 75/76B | €3,553 | €7,149 | +€3,596 | +101.2% |
| Recurring financial income | 75 | €3,553 | €7,149 | +€3,596 | +101.2% |
| Financial charges | 65/66B | €230,592 | €181,264 | -€49,328 | -21.4% |
| Recurring financial charges | 65 | €230,592 | €181,264 | -€49,328 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €524,369 | €579,602 | +€55,232 | +10.5% |
| Income taxes | 67/77 | €149,627 | €201,664 | +€52,037 | +34.8% |
| Profit (loss) for the period | 9904 | €374,743 | €377,938 | +€3,195 | +0.9% |
| Transfer from tax-exempt reserves | 789 | - | €189,450 | +€189,450 | |
| Transfer to tax-exempt reserves | 689 | €168,400 | €0 | -€168,400 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €206,343 | €567,388 | +€361,045 | +175.0% |
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.