DELFEM: what changed
Two fiscal 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.
DELFEM
Largest movements
- Stocks and contracts -€6,510
no longer reported in 2025 (was €6,510)
- Current investments +€6,114
new in 2025: €6,114
- Receivables within one year +€5,778
up €5,778 (+455.3%), from €1,269 to €7,047
- Cash +€753
up €753 (+16.6%), from €4,550 to €5,303
- Profit (loss) carried forward +€14,056
up €14,056 (+18.2%), from -€77,271 to -€63,215
- Trade debts -€8,976
down €8,976 (-84.6%), from €10,605 to €1,629
- Other debts +€2,641
up €2,641 (+4.6%), from €56,951 to €59,592
- Tax, wage and social debts -€1,586
down €1,586 (-46.1%), from €3,444 to €1,858
of which Remuneration and social security: -€3,444
- Gross operating margin -€80,799
down €80,799 (-98.7%), from €81,838 to €1,039
- Staff costs -€57,081
down €57,081 (-98.6%), from €57,898 to €817
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,329 | €18,464 | +€6,135 | +49.8% |
| Current assets | 29/58 | €12,329 | €18,464 | +€6,135 | +49.8% |
| Stocks and contracts in progress | 3 | €6,510 | - | -€6,510 | |
| Stocks | 30/36 | €6,510 | - | -€6,510 | |
| Amounts receivable within one year | 40/41 | €1,269 | €7,047 | +€5,778 | +455.3% |
| Trade receivables | 40 | €1,269 | €7,047 | +€5,778 | +455.3% |
| Current investments | 50/53 | - | €6,114 | +€6,114 | |
| Cash at bank and in hand | 54/58 | €4,550 | €5,303 | +€753 | +16.6% |
| Total equity and liabilities | 10/49 | €12,329 | €18,464 | +€6,135 | +49.8% |
| Equity | 10/15 | -€58,671 | -€44,615 | +€14,056 | +24.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Profit (loss) carried forward | 14 | -€77,271 | -€63,215 | +€14,056 | +18.2% |
| Amounts payable | 17/49 | €71,000 | €63,079 | -€7,921 | -11.2% |
| Amounts payable within one year | 42/48 | €71,000 | €63,079 | -€7,921 | -11.2% |
| Trade debts | 44 | €10,605 | €1,629 | -€8,976 | -84.6% |
| Suppliers | 440/4 | €10,605 | €1,629 | -€8,976 | -84.6% |
| Taxes, remuneration and social security | 45 | €3,444 | €1,858 | -€1,586 | -46.1% |
| Taxes | 450/3 | - | €1,858 | +€1,858 | |
| Remuneration and social security | 454/9 | €3,444 | - | -€3,444 | |
| Other amounts payable | 47/48 | €56,951 | €59,592 | +€2,641 | +4.6% |
| Remuneration, social security and pensions | 62 | €57,898 | €817 | -€57,081 | -98.6% |
| Other operating charges | 640/8 | €1,036 | €807 | -€229 | -22.1% |
| Gross operating margin | 9900 | €81,838 | €1,039 | -€80,799 | -98.7% |
| Operating profit (loss) | 9901 | €22,904 | -€585 | -€23,489 | |
| Financial income | 75/76B | - | €54 | +€54 | |
| Recurring financial income | 75 | - | €54 | +€54 | |
| Financial charges | 65/66B | €342 | €61 | -€281 | -82.2% |
| Recurring financial charges | 65 | €342 | €61 | -€281 | -82.2% |
| Profit (loss) for the period before taxes | 9903 | €22,562 | -€592 | -€23,154 | |
| Income taxes | 67/77 | - | €16 | +€16 | |
| Profit (loss) for the period | 9904 | €22,562 | -€608 | -€23,170 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,562 | -€608 | -€23,170 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.