DELFI: 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.
DELFI
Largest movements
- Cash +€22,842
up €22,842 (+555.1%), from €4,115 to €26,958
mainly Contributions, distributions and other (+€20,000) and Depreciation (+€11,278)
- Tangible fixed assets -€11,278
down €11,278 (-26.8%), from €42,080 to €30,802
of which Furniture and vehicles: -€9,114
- Stocks and contracts +€3,214
new in 2025: €3,214
- Deferred charges and accrued income -€2,014
down €2,014 (-67.8%), from €2,970 to €956
- Receivables within one year -€899
down €899 (-22.0%), from €4,094 to €3,195
of which Trade receivables: -€899
- Contributions +€20,000
up €20,000 (+32.3%), from €62,000 to €82,000
- Profit (loss) carried forward -€5,155
down €5,155 (-6.1%), from -€84,922 to -€90,077
- Trade debts -€2,923
down €2,923 (-76.6%), from €3,816 to €893
- Gross operating margin +€7,580
up €7,580, from -€286 to €7,294
- Other operating charges -€940
down €940 (-48.1%), from €1,952 to €1,012
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 | €53,259 | €65,124 | +€11,865 | +22.3% |
| Fixed assets | 21/28 | €42,080 | €30,802 | -€11,278 | -26.8% |
| Tangible fixed assets | 22/27 | €42,080 | €30,802 | -€11,278 | -26.8% |
| Land and buildings | 22 | €3,508 | €2,255 | -€1,253 | -35.7% |
| Plant, machinery and equipment | 23 | €4,355 | €3,737 | -€618 | -14.2% |
| Furniture and vehicles | 24 | €33,310 | €24,196 | -€9,114 | -27.4% |
| Other tangible fixed assets | 26 | €906 | €614 | -€293 | -32.3% |
| Current assets | 29/58 | €11,179 | €34,322 | +€23,143 | +207.0% |
| Stocks and contracts in progress | 3 | - | €3,214 | +€3,214 | |
| Stocks | 30/36 | - | €3,214 | +€3,214 | |
| Amounts receivable within one year | 40/41 | €4,094 | €3,195 | -€899 | -22.0% |
| Trade receivables | 40 | €3,569 | €2,670 | -€899 | -25.2% |
| Other amounts receivable | 41 | €525 | €525 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,115 | €26,958 | +€22,842 | +555.1% |
| Deferred charges and accrued income | 490/1 | €2,970 | €956 | -€2,014 | -67.8% |
| Total equity and liabilities | 10/49 | €53,259 | €65,124 | +€11,865 | +22.3% |
| Equity | 10/15 | -€19,824 | -€4,979 | +€14,845 | +74.9% |
| Contributions | 10/11 | €62,000 | €82,000 | +€20,000 | +32.3% |
| Capital | 10 | €62,000 | €82,000 | +€20,000 | +32.3% |
| Issued capital | 100 | €62,000 | €82,000 | +€20,000 | +32.3% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,922 | -€90,077 | -€5,155 | -6.1% |
| Amounts payable | 17/49 | €73,083 | €70,103 | -€2,980 | -4.1% |
| Amounts payable within one year | 42/48 | €73,083 | €70,103 | -€2,980 | -4.1% |
| Trade debts | 44 | €3,816 | €893 | -€2,923 | -76.6% |
| Suppliers | 440/4 | €3,816 | €893 | -€2,923 | -76.6% |
| Taxes, remuneration and social security | 45 | €335 | €278 | -€57 | -17.1% |
| Taxes | 450/3 | €335 | €278 | -€57 | -17.1% |
| Other amounts payable | 47/48 | €68,931 | €68,931 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,282 | €11,278 | -€4 | 0.0% |
| Other operating charges | 640/8 | €1,952 | €1,012 | -€940 | -48.1% |
| Gross operating margin | 9900 | -€286 | €7,294 | +€7,580 | |
| Operating profit (loss) | 9901 | -€13,519 | -€4,996 | +€8,524 | +63.0% |
| Financial charges | 65/66B | €140 | €159 | +€19 | +13.9% |
| Recurring financial charges | 65 | €140 | €159 | +€19 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,659 | -€5,155 | +€8,504 | +62.3% |
| Profit (loss) for the period | 9904 | -€13,659 | -€5,155 | +€8,504 | +62.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,659 | -€5,155 | +€8,504 | +62.3% |
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 4 October 2026 via checked.be.