DELFAN: 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.
DELFAN
Largest movements
- Cash -€70,496
down €70,496 (-94.0%), from €75,013 to €4,517
mainly Net result for the year (-€74,138) and Trade debts (-€64,938)
- Tangible fixed assets -€36,518
down €36,518 (-25.5%), from €143,127 to €106,608
- Stocks and contracts -€34,647
down €34,647 (-16.4%), from €211,672 to €177,025
- Receivables after one year -€5,596
down €5,596 (-100%), from €5,596 to €0
- Trade debts -€64,938
down €64,938 (-20.2%), from €321,979 to €257,041
- Reserves -€56,800
down €56,800 (-65.6%), from €86,560 to €29,760
- Profit (loss) carried forward -€17,339
new in 2025: -€17,339
- Debts after one year -€12,263
down €12,263 (-48.7%), from €25,162 to €12,899
- Financial income -€56,799
down €56,799 (-37.8%), from €150,280 to €93,481
- Gross operating margin -€48,296
down €48,296 (-27.7%), from €174,638 to €126,342
- Taxes -€15,286
down €15,286 (-95.3%), from €16,040 to €754
- Staff costs +€13,009
up €13,009 (+5.8%), from €225,980 to €238,989
- Depreciation +€2,101
up €2,101 (+4.7%), from €44,347 to €46,447
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 | €550,085 | €404,417 | -€145,667 | -26.5% |
| Fixed assets | 21/28 | €143,127 | €106,608 | -€36,518 | -25.5% |
| Tangible fixed assets | 22/27 | €143,127 | €106,608 | -€36,518 | -25.5% |
| Land and buildings | 22 | €31,496 | €31,496 | = | 0.0% |
| Plant, machinery and equipment | 23 | €55,490 | €41,373 | -€14,117 | -25.4% |
| Furniture and vehicles | 24 | €8,539 | €2,192 | -€6,347 | -74.3% |
| Leasing and similar rights | 25 | €47,602 | €31,547 | -€16,054 | -33.7% |
| Current assets | 29/58 | €406,958 | €297,809 | -€109,149 | -26.8% |
| Amounts receivable after more than one year | 29 | €5,596 | €0 | -€5,596 | -100% |
| Other amounts receivable | 291 | €5,596 | €0 | -€5,596 | -100% |
| Stocks and contracts in progress | 3 | €211,672 | €177,025 | -€34,647 | -16.4% |
| Stocks | 30/36 | €211,672 | €177,025 | -€34,647 | -16.4% |
| Amounts receivable within one year | 40/41 | €112,107 | €114,449 | +€2,342 | +2.1% |
| Trade receivables | 40 | €109,741 | €98,207 | -€11,534 | -10.5% |
| Other amounts receivable | 41 | €2,366 | €16,242 | +€13,876 | +586% |
| Cash at bank and in hand | 54/58 | €75,013 | €4,517 | -€70,496 | -94.0% |
| Deferred charges and accrued income | 490/1 | €2,569 | €1,817 | -€752 | -29.3% |
| Total equity and liabilities | 10/49 | €550,085 | €404,417 | -€145,667 | -26.5% |
| Equity | 10/15 | €105,152 | €31,013 | -€74,138 | -70.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €86,560 | €29,760 | -€56,800 | -65.6% |
| Distributable reserves | 133 | €86,560 | €29,760 | -€56,800 | -65.6% |
| Profit (loss) carried forward | 14 | - | -€17,339 | -€17,339 | |
| Amounts payable | 17/49 | €444,933 | €373,404 | -€71,529 | -16.1% |
| Amounts payable after more than one year | 17 | €25,162 | €12,899 | -€12,263 | -48.7% |
| Financial debts | 170/4 | €25,162 | €12,899 | -€12,263 | -48.7% |
| Amounts payable within one year | 42/48 | €419,771 | €360,505 | -€59,266 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €13,607 | €12,263 | -€1,343 | -9.9% |
| Financial debts | 43 | €9,176 | €10,022 | +€845 | +9.2% |
| Credit institutions | 430/8 | €9,176 | €10,022 | +€845 | +9.2% |
| Trade debts | 44 | €321,979 | €257,041 | -€64,938 | -20.2% |
| Suppliers | 440/4 | €321,979 | €257,041 | -€64,938 | -20.2% |
| Taxes, remuneration and social security | 45 | €70,284 | €71,172 | +€888 | +1.3% |
| Taxes | 450/3 | €31,358 | €26,305 | -€5,053 | -16.1% |
| Remuneration and social security | 454/9 | €38,925 | €44,867 | +€5,942 | +15.3% |
| Other amounts payable | 47/48 | €4,725 | €10,007 | +€5,282 | +112% |
| Remuneration, social security and pensions | 62 | €225,980 | €238,989 | +€13,009 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,347 | €46,447 | +€2,101 | +4.7% |
| Other operating charges | 640/8 | €6,047 | €5,450 | -€597 | -9.9% |
| Gross operating margin | 9900 | €174,638 | €126,342 | -€48,296 | -27.7% |
| Operating profit (loss) | 9901 | -€101,735 | -€164,545 | -€62,810 | -61.7% |
| Financial income | 75/76B | €150,280 | €93,481 | -€56,799 | -37.8% |
| Recurring financial income | 75 | €150,280 | €93,481 | -€56,799 | -37.8% |
| Financial charges | 65/66B | €2,745 | €2,321 | -€424 | -15.4% |
| Recurring financial charges | 65 | €2,745 | €2,321 | -€424 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €45,800 | -€73,385 | -€119,185 | |
| Income taxes | 67/77 | €16,040 | €754 | -€15,286 | -95.3% |
| Profit (loss) for the period | 9904 | €29,760 | -€74,138 | -€103,898 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,760 | -€74,138 | -€103,898 |
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 24 October 2026 via checked.be.