DELENDO: 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.
DELENDO
Largest movements
- Cash -€74,341
down €74,341 (-33.9%), from €219,173 to €144,832
mainly Contributions, distributions and other (-€175,000) and Debts after one year (-€41,457)
- Intangible fixed assets -€40,000
down €40,000 (-33.3%), from €120,000 to €80,000
- Tangible fixed assets -€5,873
down €5,873 (-23.6%), from €24,921 to €19,048
of which Furniture and vehicles: -€3,152
- Reserves -€66,152
down €66,152 (-37.6%), from €175,813 to €109,661
- Debts after one year -€41,457
down €41,457 (-38.3%), from €108,164 to €66,707
- Tax, wage and social debts -€15,594
down €15,594 (-69.5%), from €22,453 to €6,859
- Trade debts +€3,972
up €3,972 (+122%), from €3,258 to €7,230
- Gross operating margin -€34,608
down €34,608 (-15.6%), from €222,099 to €187,491
- Taxes -€4,648
down €4,648 (-12.8%), from €36,254 to €31,606
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 | €369,232 | €250,515 | -€118,717 | -32.2% |
| Fixed assets | 21/28 | €144,921 | €99,048 | -€45,873 | -31.7% |
| Intangible fixed assets | 21 | €120,000 | €80,000 | -€40,000 | -33.3% |
| Tangible fixed assets | 22/27 | €24,921 | €19,048 | -€5,873 | -23.6% |
| Land and buildings | 22 | €10,883 | €8,162 | -€2,721 | -25.0% |
| Furniture and vehicles | 24 | €14,038 | €10,886 | -€3,152 | -22.5% |
| Current assets | 29/58 | €224,311 | €151,467 | -€72,844 | -32.5% |
| Amounts receivable within one year | 40/41 | €3,555 | €4,013 | +€458 | +12.9% |
| Other amounts receivable | 41 | €3,555 | €4,013 | +€458 | +12.9% |
| Cash at bank and in hand | 54/58 | €219,173 | €144,832 | -€74,341 | -33.9% |
| Deferred charges and accrued income | 490/1 | €1,583 | €2,622 | +€1,039 | +65.6% |
| Total equity and liabilities | 10/49 | €369,232 | €250,515 | -€118,717 | -32.2% |
| Equity | 10/15 | €194,413 | €128,261 | -€66,152 | -34.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €175,813 | €109,661 | -€66,152 | -37.6% |
| Distributable reserves | 133 | €175,813 | €109,661 | -€66,152 | -37.6% |
| Amounts payable | 17/49 | €174,819 | €122,254 | -€52,565 | -30.1% |
| Amounts payable after more than one year | 17 | €108,164 | €66,707 | -€41,457 | -38.3% |
| Financial debts | 170/4 | €108,164 | €66,707 | -€41,457 | -38.3% |
| Amounts payable within one year | 42/48 | €66,655 | €55,547 | -€11,108 | -16.7% |
| Current portion of amounts payable after more than one year | 42 | €40,944 | €41,458 | +€514 | +1.3% |
| Trade debts | 44 | €3,258 | €7,230 | +€3,972 | +122% |
| Suppliers | 440/4 | €3,258 | €7,230 | +€3,972 | +122% |
| Taxes, remuneration and social security | 45 | €22,453 | €6,859 | -€15,594 | -69.5% |
| Taxes | 450/3 | €22,453 | €6,859 | -€15,594 | -69.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,920 | €45,873 | -€1,047 | -2.2% |
| Gross operating margin | 9900 | €222,099 | €187,491 | -€34,608 | -15.6% |
| Operating profit (loss) | 9901 | €175,179 | €141,618 | -€33,561 | -19.2% |
| Financial income | 75/76B | €431 | €813 | +€382 | +88.6% |
| Recurring financial income | 75 | €431 | €813 | +€382 | +88.6% |
| Financial charges | 65/66B | €2,401 | €1,977 | -€424 | -17.7% |
| Recurring financial charges | 65 | €2,401 | €1,977 | -€424 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €173,209 | €140,454 | -€32,755 | -18.9% |
| Income taxes | 67/77 | €36,254 | €31,606 | -€4,648 | -12.8% |
| Profit (loss) for the period | 9904 | €136,955 | €108,848 | -€28,107 | -20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €136,955 | €108,848 | -€28,107 | -20.5% |
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 25 October 2026 via checked.be.