Delfeno: 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.
Delfeno
Largest movements
- Receivables within one year +€66,671
up €66,671 (+1750.2%), from €3,809 to €70,480
of which Trade receivables: +€36,300
- Cash +€53,422
up €53,422 (+435.2%), from €12,276 to €65,698
mainly Net result for the year (+€342,695) and Investment in fixed assets (net) (+€22,200)
- Financial fixed assets -€22,204
down €22,204 (-7.1%), from €312,104 to €289,900
- Intangible fixed assets -€12,058
down €12,058 (-13.2%), from €91,652 to €79,594
- Profit (loss) carried forward +€182,695
up €182,695 (+288.9%), from €63,247 to €245,943
- Debts after one year -€81,770
down €81,770 (-36.2%), from €225,995 to €144,225
of which Financial debts: -€175,995
- Other debts -€11,397
down €11,397 (-6.4%), from €178,642 to €167,245
- Financial income +€326,602
up €326,602 (+10616.2%), from €3,076 to €329,678
of which Non-recurring financial income: +€327,763
- Gross operating margin +€32,711
up €32,711 (+159.7%), from €20,487 to €53,198
- Financial charges +€8,238
up €8,238 (+75.6%), from €10,902 to €19,140
- Taxes +€4,555
up €4,555 (+1911.2%), from €238 to €4,794
- Other operating charges +€3,607
up €3,607 (+624.1%), from €578 to €4,185
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 | €489,883 | €576,431 | +€86,547 | +17.7% |
| Fixed assets | 21/28 | €403,757 | €369,494 | -€34,262 | -8.5% |
| Intangible fixed assets | 21 | €91,652 | €79,594 | -€12,058 | -13.2% |
| Financial fixed assets | 28 | €312,104 | €289,900 | -€22,204 | -7.1% |
| Current assets | 29/58 | €86,127 | €206,936 | +€120,809 | +140.3% |
| Amounts receivable after more than one year | 29 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 291 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,809 | €70,480 | +€66,671 | +1750.2% |
| Trade receivables | 40 | - | €36,300 | +€36,300 | |
| Other amounts receivable | 41 | €3,809 | €34,180 | +€30,371 | +797.3% |
| Current investments | 50/53 | €54,225 | €54,225 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,276 | €65,698 | +€53,422 | +435.2% |
| Deferred charges and accrued income | 490/1 | €816 | €1,532 | +€716 | +87.7% |
| Total equity and liabilities | 10/49 | €489,883 | €576,431 | +€86,547 | +17.7% |
| Equity | 10/15 | €67,247 | €249,943 | +€182,695 | +271.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,247 | €245,943 | +€182,695 | +288.9% |
| Amounts payable | 17/49 | €422,636 | €326,488 | -€96,148 | -22.7% |
| Amounts payable after more than one year | 17 | €225,995 | €144,225 | -€81,770 | -36.2% |
| Financial debts | 170/4 | €225,995 | €50,000 | -€175,995 | -77.9% |
| Other amounts payable | 178/9 | - | €94,225 | +€94,225 | |
| Amounts payable within one year | 42/48 | €194,141 | €176,575 | -€17,566 | -9.0% |
| Trade debts | 44 | €5,865 | €1,760 | -€4,105 | -70.0% |
| Suppliers | 440/4 | €5,865 | €1,760 | -€4,105 | -70.0% |
| Taxes, remuneration and social security | 45 | €9,635 | €7,570 | -€2,065 | -21.4% |
| Taxes | 450/3 | €9,635 | €7,570 | -€2,065 | -21.4% |
| Other amounts payable | 47/48 | €178,642 | €167,245 | -€11,397 | -6.4% |
| Accrued charges and deferred income | 492/3 | €2,500 | €5,688 | +€3,188 | +127.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,761 | €12,062 | +€301 | +2.6% |
| Other operating charges | 640/8 | €578 | €4,185 | +€3,607 | +624.1% |
| Gross operating margin | 9900 | €20,487 | €53,198 | +€32,711 | +159.7% |
| Operating profit (loss) | 9901 | €8,148 | €36,951 | +€28,803 | +353.5% |
| Financial income | 75/76B | €3,076 | €329,678 | +€326,602 | +10616.2% |
| Recurring financial income | 75 | €3,076 | €1,916 | -€1,161 | -37.7% |
| Non-recurring financial income | 76B | - | €327,763 | +€327,763 | |
| Financial charges | 65/66B | €10,902 | €19,140 | +€8,238 | +75.6% |
| Recurring financial charges | 65 | €10,902 | €19,140 | +€8,238 | +75.6% |
| Profit (loss) for the period before taxes | 9903 | €322 | €347,489 | +€347,167 | +107836.0% |
| Income taxes | 67/77 | €238 | €4,794 | +€4,555 | +1911.2% |
| Profit (loss) for the period | 9904 | €84 | €342,695 | +€342,612 | +409871.8% |
| Profit (loss) for the period to be appropriated | 9905 | €84 | €342,695 | +€342,612 | +409871.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.