DELEU GHISLAIN: 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.
DELEU GHISLAIN
Largest movements
- Cash -€9,239
no longer reported in 2025 (was €9,239)
mainly Contributions, distributions and other (-€22,690) and Tax, wage and social debts (-€3,773)
- Receivables within one year -€8,477
down €8,477 (-10.7%), from €79,301 to €70,824
of which Other amounts receivable: -€9,163
- Deferred charges and accrued income -€6,821
down €6,821 (-69.2%), from €9,859 to €3,039
- Tangible fixed assets -€1,070
down €1,070 (-27.5%), from €3,896 to €2,826
of which Land and buildings: -€628
- Reserves -€22,690
down €22,690 (-45.6%), from €49,737 to €27,047
of which Distributable reserves: -€22,690
- Tax, wage and social debts -€3,773
down €3,773 (-62.5%), from €6,041 to €2,268
- Other debts +€2,321
up €2,321 (+12.2%), from €19,000 to €21,321
- Profit (loss) carried forward -€1,225
down €1,225 (-16.7%), from €7,320 to €6,095
- Gross operating margin -€24,027
down €24,027 (-88.7%), from €27,098 to €3,071
- Taxes -€6,853
down €6,853 (-96.0%), from €7,141 to €288
- Financial charges +€1,313
up €1,313 (+111%), from €1,181 to €2,494
- Depreciation +€467
up €467 (+77.6%), from €602 to €1,070
- Other operating charges -€355
down €355 (-43.9%), from €809 to €454
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 | €102,395 | €76,789 | -€25,606 | -25.0% |
| Fixed assets | 21/28 | €3,996 | €2,926 | -€1,070 | -26.8% |
| Tangible fixed assets | 22/27 | €3,896 | €2,826 | -€1,070 | -27.5% |
| Land and buildings | 22 | €2,919 | €2,291 | -€628 | -21.5% |
| Furniture and vehicles | 24 | €977 | €535 | -€442 | -45.2% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €98,399 | €73,862 | -€24,537 | -24.9% |
| Amounts receivable within one year | 40/41 | €79,301 | €70,824 | -€8,477 | -10.7% |
| Trade receivables | 40 | - | €686 | +€686 | |
| Other amounts receivable | 41 | €79,301 | €70,138 | -€9,163 | -11.6% |
| Cash at bank and in hand | 54/58 | €9,239 | - | -€9,239 | |
| Deferred charges and accrued income | 490/1 | €9,859 | €3,039 | -€6,821 | -69.2% |
| Total equity and liabilities | 10/49 | €102,395 | €76,789 | -€25,606 | -25.0% |
| Equity | 10/15 | €77,056 | €53,142 | -€23,915 | -31.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €49,737 | €27,047 | -€22,690 | -45.6% |
| Non-distributable reserves | 130/1 | €1,947 | €1,947 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,947 | €1,947 | = | 0.0% |
| Distributable reserves | 133 | €47,790 | €25,100 | -€22,690 | -47.5% |
| Profit (loss) carried forward | 14 | €7,320 | €6,095 | -€1,225 | -16.7% |
| Amounts payable | 17/49 | €25,338 | €23,647 | -€1,692 | -6.7% |
| Amounts payable within one year | 42/48 | €25,338 | €23,647 | -€1,692 | -6.7% |
| Financial debts | 43 | - | €58 | +€58 | |
| Credit institutions | 430/8 | - | €58 | +€58 | |
| Trade debts | 44 | €298 | - | -€298 | |
| Suppliers | 440/4 | €298 | - | -€298 | |
| Taxes, remuneration and social security | 45 | €6,041 | €2,268 | -€3,773 | -62.5% |
| Taxes | 450/3 | €6,041 | €2,268 | -€3,773 | -62.5% |
| Other amounts payable | 47/48 | €19,000 | €21,321 | +€2,321 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €602 | €1,070 | +€467 | +77.6% |
| Other operating charges | 640/8 | €809 | €454 | -€355 | -43.9% |
| Gross operating margin | 9900 | €27,098 | €3,071 | -€24,027 | -88.7% |
| Operating profit (loss) | 9901 | €25,687 | €1,548 | -€24,139 | -94.0% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €1,181 | €2,494 | +€1,313 | +111% |
| Recurring financial charges | 65 | €1,181 | €2,494 | +€1,313 | +111% |
| Profit (loss) for the period before taxes | 9903 | €24,506 | -€936 | -€25,443 | |
| Income taxes | 67/77 | €7,141 | €288 | -€6,853 | -96.0% |
| Profit (loss) for the period | 9904 | €17,365 | -€1,225 | -€18,590 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,365 | -€1,225 | -€18,590 |
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 23 October 2026 via checked.be.