DELFIMMO: 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.
DELFIMMO
Largest movements
- Receivables after one year -€50,000
no longer reported in 2025 (was €50,000)
- Cash +€30,219
up €30,219 (+35.7%), from €84,581 to €114,800
mainly Receivables after one year (+€50,000) and Depreciation (+€30,533)
- Tangible fixed assets +€23,301
up €23,301 (+25.1%), from €92,850 to €116,151
- Reserves -€60,040
down €60,040 (-47.9%), from €125,318 to €65,278
- Other debts +€23,169
up €23,169 (+85.8%), from €27,006 to €50,175
- Trade debts +€12,586
up €12,586 (+271.0%), from €4,644 to €17,230
- Current portion of long-term debt +€11,105
up €11,105 (+48.2%), from €23,043 to €34,149
- Debts after one year +€9,108
up €9,108 (+20.2%), from €45,139 to €54,247
- Gross operating margin +€64,848
up €64,848 (+55.2%), from €117,385 to €182,233
- Staff costs +€52,612
up €52,612 (+82.6%), from €63,700 to €116,312
- Depreciation +€3,064
up €3,064 (+11.2%), from €27,469 to €30,533
- Financial charges +€2,489
up €2,489 (+91.0%), from €2,736 to €5,225
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 | €276,249 | €280,227 | +€3,978 | +1.4% |
| Fixed assets | 21/28 | €93,450 | €116,751 | +€23,301 | +24.9% |
| Tangible fixed assets | 22/27 | €92,850 | €116,151 | +€23,301 | +25.1% |
| Furniture and vehicles | 24 | €92,850 | €116,151 | +€23,301 | +25.1% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €182,798 | €163,476 | -€19,322 | -10.6% |
| Amounts receivable after more than one year | 29 | €50,000 | - | -€50,000 | |
| Other amounts receivable | 291 | €50,000 | - | -€50,000 | |
| Amounts receivable within one year | 40/41 | €47,776 | €48,676 | +€900 | +1.9% |
| Trade receivables | 40 | €47,493 | €45,074 | -€2,419 | -5.1% |
| Other amounts receivable | 41 | €282 | €3,602 | +€3,319 | +1175.2% |
| Cash at bank and in hand | 54/58 | €84,581 | €114,800 | +€30,219 | +35.7% |
| Deferred charges and accrued income | 490/1 | €442 | - | -€442 | |
| Total equity and liabilities | 10/49 | €276,249 | €280,227 | +€3,978 | +1.4% |
| Equity | 10/15 | €143,918 | €83,878 | -€60,040 | -41.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €125,318 | €65,278 | -€60,040 | -47.9% |
| Distributable reserves | 133 | €125,318 | €65,278 | -€60,040 | -47.9% |
| Amounts payable | 17/49 | €132,330 | €196,348 | +€64,018 | +48.4% |
| Amounts payable after more than one year | 17 | €45,139 | €54,247 | +€9,108 | +20.2% |
| Financial debts | 170/4 | €45,139 | €54,247 | +€9,108 | +20.2% |
| Amounts payable within one year | 42/48 | €87,192 | €142,102 | +€54,910 | +63.0% |
| Current portion of amounts payable after more than one year | 42 | €23,043 | €34,149 | +€11,105 | +48.2% |
| Trade debts | 44 | €4,644 | €17,230 | +€12,586 | +271.0% |
| Suppliers | 440/4 | €4,644 | €17,230 | +€12,586 | +271.0% |
| Taxes, remuneration and social security | 45 | €32,498 | €40,548 | +€8,050 | +24.8% |
| Taxes | 450/3 | €22,666 | €21,896 | -€771 | -3.4% |
| Remuneration and social security | 454/9 | €9,832 | €18,653 | +€8,821 | +89.7% |
| Other amounts payable | 47/48 | €27,006 | €50,175 | +€23,169 | +85.8% |
| Remuneration, social security and pensions | 62 | €63,700 | €116,312 | +€52,612 | +82.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,469 | €30,533 | +€3,064 | +11.2% |
| Other operating charges | 640/8 | €4,956 | €3,679 | -€1,277 | -25.8% |
| Non-recurring operating charges | 66A | €348 | - | -€348 | |
| Gross operating margin | 9900 | €117,385 | €182,233 | +€64,848 | +55.2% |
| Operating profit (loss) | 9901 | €20,912 | €31,709 | +€10,798 | +51.6% |
| Financial income | 75/76B | €91 | €612 | +€521 | +574.1% |
| Recurring financial income | 75 | €91 | €612 | +€521 | +574.1% |
| Financial charges | 65/66B | €2,736 | €5,225 | +€2,489 | +91.0% |
| Recurring financial charges | 65 | €2,736 | €5,225 | +€2,489 | +91.0% |
| Profit (loss) for the period before taxes | 9903 | €18,267 | €27,096 | +€8,830 | +48.3% |
| Income taxes | 67/77 | €6,852 | €6,988 | +€136 | +2.0% |
| Profit (loss) for the period | 9904 | €11,415 | €20,109 | +€8,694 | +76.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,415 | €20,109 | +€8,694 | +76.2% |
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.