DELEU IVAN: 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 IVAN
Largest movements
- Receivables within one year -€21,585
down €21,585 (-44.4%), from €48,594 to €27,008
of which Trade receivables: -€24,366
- Cash -€12,441
down €12,441 (-100%), from €12,441 to €0
mainly Trade debts (-€29,202) and Net result for the year (-€13,684)
- Stocks and contracts -€10,852
down €10,852 (-18.0%), from €60,457 to €49,605
- Tangible fixed assets -€9,006
down €9,006 (-17.9%), from €50,310 to €41,304
of which Land and buildings: -€5,988
- Trade debts -€29,202
down €29,202 (-66.9%), from €43,655 to €14,453
- Reserves -€13,684
down €13,684 (-27.1%), from €50,492 to €36,808
- Debts after one year -€11,245
down €11,245 (-28.7%), from €39,155 to €27,910
- Current portion of long-term debt -€6,114
down €6,114 (-35.2%), from €17,359 to €11,245
- Short-term financial debts +€2,484
up €2,484, from €0 to €2,484
- Gross operating margin +€6,244
up €6,244, from -€4,860 to €1,384
- Depreciation +€242
up €242 (+2.4%), from €10,024 to €10,266
- Financial income +€202
new in 2025: €202
- Other operating charges -€50
down €50 (-2.4%), from €2,106 to €2,056
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 | €175,342 | €120,173 | -€55,169 | -31.5% |
| Fixed assets | 21/28 | €50,310 | €41,304 | -€9,006 | -17.9% |
| Tangible fixed assets | 22/27 | €50,310 | €41,304 | -€9,006 | -17.9% |
| Land and buildings | 22 | €42,113 | €36,125 | -€5,988 | -14.2% |
| Plant, machinery and equipment | 23 | €959 | €1,496 | +€536 | +55.9% |
| Furniture and vehicles | 24 | €7,238 | €3,683 | -€3,555 | -49.1% |
| Current assets | 29/58 | €125,032 | €78,869 | -€46,163 | -36.9% |
| Stocks and contracts in progress | 3 | €60,457 | €49,605 | -€10,852 | -18.0% |
| Stocks | 30/36 | €60,457 | €49,605 | -€10,852 | -18.0% |
| Amounts receivable within one year | 40/41 | €48,594 | €27,008 | -€21,585 | -44.4% |
| Trade receivables | 40 | €41,312 | €16,946 | -€24,366 | -59.0% |
| Other amounts receivable | 41 | €7,282 | €10,063 | +€2,781 | +38.2% |
| Cash at bank and in hand | 54/58 | €12,441 | €0 | -€12,441 | -100% |
| Deferred charges and accrued income | 490/1 | €3,541 | €2,256 | -€1,285 | -36.3% |
| Total equity and liabilities | 10/49 | €175,342 | €120,173 | -€55,169 | -31.5% |
| Equity | 10/15 | €56,692 | €43,008 | -€13,684 | -24.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €50,492 | €36,808 | -€13,684 | -27.1% |
| Distributable reserves | 133 | €50,492 | €36,808 | -€13,684 | -27.1% |
| Amounts payable | 17/49 | €118,651 | €77,165 | -€41,485 | -35.0% |
| Amounts payable after more than one year | 17 | €39,155 | €27,910 | -€11,245 | -28.7% |
| Financial debts | 170/4 | €39,155 | €27,910 | -€11,245 | -28.7% |
| Amounts payable within one year | 42/48 | €79,495 | €49,255 | -€30,240 | -38.0% |
| Current portion of amounts payable after more than one year | 42 | €17,359 | €11,245 | -€6,114 | -35.2% |
| Financial debts | 43 | €0 | €2,484 | +€2,484 | |
| Credit institutions | 430/8 | €0 | €2,484 | +€2,484 | |
| Trade debts | 44 | €43,655 | €14,453 | -€29,202 | -66.9% |
| Suppliers | 440/4 | €43,655 | €14,453 | -€29,202 | -66.9% |
| Taxes, remuneration and social security | 45 | €2,325 | €2,687 | +€362 | +15.6% |
| Taxes | 450/3 | €2,325 | €2,687 | +€362 | +15.6% |
| Other amounts payable | 47/48 | €16,156 | €18,386 | +€2,230 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,024 | €10,266 | +€242 | +2.4% |
| Other operating charges | 640/8 | €2,106 | €2,056 | -€50 | -2.4% |
| Non-recurring operating charges | 66A | €3,916 | €0 | -€3,916 | -100% |
| Gross operating margin | 9900 | -€4,860 | €1,384 | +€6,244 | |
| Operating profit (loss) | 9901 | -€20,906 | -€10,938 | +€9,967 | +47.7% |
| Financial income | 75/76B | - | €202 | +€202 | |
| Recurring financial income | 75 | - | €202 | +€202 | |
| Financial charges | 65/66B | €2,906 | €2,948 | +€43 | +1.5% |
| Recurring financial charges | 65 | €2,906 | €2,948 | +€43 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | -€23,811 | -€13,684 | +€10,127 | +42.5% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€23,811 | -€13,684 | +€10,127 | +42.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,811 | -€13,684 | +€10,127 | +42.5% |
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 27 October 2026 via checked.be.