DELFA: 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.
DELFA
Largest movements
- Current investments +€31,221
up €31,221 (+32.8%), from €95,261 to €126,482
- Receivables within one year -€14,013
down €14,013 (-47.9%), from €29,247 to €15,234
of which Trade receivables: -€13,548
- Tangible fixed assets -€1,862
down €1,862 (-56.1%), from €3,320 to €1,458
of which Furniture and vehicles: -€1,565
- Reserves +€15,800
up €15,800 (+28.5%), from €55,520 to €71,320
- Advances received -€10,409
no longer reported in 2025 (was €10,409)
- Other debts +€8,594
up €8,594 (+37.4%), from €22,998 to €31,592
- Tax, wage and social debts +€3,538
up €3,538 (+37.3%), from €9,494 to €13,032
- Trade debts -€2,088
down €2,088 (-56.2%), from €3,714 to €1,626
- Gross operating margin +€8,971
up €8,971 (+33.5%), from €26,770 to €35,741
- Depreciation -€2,602
down €2,602 (-58.3%), from €4,464 to €1,862
- Taxes +€2,147
up €2,147 (+27.9%), from €7,704 to €9,851
- Financial charges +€1,491
up €1,491 (+128.7%), from €1,158 to €2,650
- Financial income +€1,209
up €1,209 (+240.0%), from €504 to €1,712
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €131,607 | €147,134 | +€15,527 | +11.8% |
| Fixed assets | 21/28 | €3,320 | €1,458 | -€1,862 | -56.1% |
| Tangible fixed assets | 22/27 | €3,320 | €1,458 | -€1,862 | -56.1% |
| Plant, machinery and equipment | 23 | €40 | - | -€40 | |
| Furniture and vehicles | 24 | €1,803 | €238 | -€1,565 | -86.8% |
| Other tangible fixed assets | 26 | €1,477 | €1,220 | -€257 | -17.4% |
| Current assets | 29/58 | €128,287 | €145,675 | +€17,388 | +13.6% |
| Amounts receivable within one year | 40/41 | €29,247 | €15,234 | -€14,013 | -47.9% |
| Trade receivables | 40 | €28,563 | €15,015 | -€13,548 | -47.4% |
| Other amounts receivable | 41 | €684 | €219 | -€465 | -67.9% |
| Current investments | 50/53 | €95,261 | €126,482 | +€31,221 | +32.8% |
| Cash at bank and in hand | 54/58 | €743 | €775 | +€32 | +4.4% |
| Deferred charges and accrued income | 490/1 | €3,036 | €3,184 | +€147 | +4.8% |
| Total equity and liabilities | 10/49 | €131,607 | €147,134 | +€15,527 | +11.8% |
| Equity | 10/15 | €74,141 | €90,032 | +€15,891 | +21.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €55,520 | €71,320 | +€15,800 | +28.5% |
| Distributable reserves | 133 | €55,520 | €71,320 | +€15,800 | +28.5% |
| Profit (loss) carried forward | 14 | €21 | €112 | +€91 | +429.3% |
| Provisions and deferred taxes | 16 | €10,852 | €10,852 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,852 | €10,852 | = | 0.0% |
| Pensions and similar obligations | 160 | €10,852 | €10,852 | = | 0.0% |
| Amounts payable | 17/49 | €46,614 | €46,250 | -€364 | -0.8% |
| Amounts payable within one year | 42/48 | €46,614 | €46,250 | -€364 | -0.8% |
| Trade debts | 44 | €3,714 | €1,626 | -€2,088 | -56.2% |
| Suppliers | 440/4 | €3,714 | €1,626 | -€2,088 | -56.2% |
| Advances received on contracts in progress | 46 | €10,409 | - | -€10,409 | |
| Taxes, remuneration and social security | 45 | €9,494 | €13,032 | +€3,538 | +37.3% |
| Taxes | 450/3 | €9,494 | €13,032 | +€3,538 | +37.3% |
| Other amounts payable | 47/48 | €22,998 | €31,592 | +€8,594 | +37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,464 | €1,862 | -€2,602 | -58.3% |
| Other operating charges | 640/8 | €1,127 | €1,167 | +€40 | +3.5% |
| Gross operating margin | 9900 | €26,770 | €35,741 | +€8,971 | +33.5% |
| Operating profit (loss) | 9901 | €21,179 | €32,712 | +€11,533 | +54.5% |
| Financial income | 75/76B | €504 | €1,712 | +€1,209 | +240.0% |
| Recurring financial income | 75 | €504 | €1,712 | +€1,209 | +240.0% |
| Financial charges | 65/66B | €1,158 | €2,650 | +€1,491 | +128.7% |
| Recurring financial charges | 65 | €1,158 | €2,650 | +€1,491 | +128.7% |
| Profit (loss) for the period before taxes | 9903 | €20,524 | €31,775 | +€11,251 | +54.8% |
| Income taxes | 67/77 | €7,704 | €9,851 | +€2,147 | +27.9% |
| Profit (loss) for the period | 9904 | €12,820 | €21,924 | +€9,104 | +71.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,820 | €21,924 | +€9,104 | +71.0% |
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 12 October 2026 via checked.be.