DELFINE: 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.
What changed
DELFINE
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€33,042
2024 · €729,957-€696,916
Equity
€2.9m
2024 · €2.9m+€33,042
Cash
€1,572
2024 · -+€1,572
Balance sheet total
€6.2m
2024 · €6.3m-€94,819
Largest movements
Assets
- Receivables within one year -€183,015
down €183,015 (-4.5%), from €4.1m to €3.9m
of which Other amounts receivable: -€181,987
- Deferred charges and accrued income +€129,219
up €129,219 (+74.6%), from €173,310 to €302,529
Equity and liabilities
- Other debts -€75,000
down €75,000 (-4.8%), from €1.6m to €1.5m
Income statement
- Financial income -€2.0m
down €2.0m (-93.2%), from €2.1m to €144,544
of which Financial income: -€1.1m
- Financial charges -€1.3m
down €1.3m (-94.6%), from €1.4m to €75,564
of which Non-recurring financial charges: -€1.3m
- Gross operating margin -€51,100
down €51,100 (-59.6%), from €85,809 to €34,708
- Depreciation -€24,685
down €24,685 (-41.3%), from €59,760 to €35,074
- Taxes +€10,473
up €10,473 (+51.2%), from €20,443 to €30,916
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.
Result 2024
€729,957
Gross operating margin
-€51,100
Depreciation
+€24,685
Other operating charges
+€2,541
Financial income
-€2.0m
Financial charges
+€1.3m
Taxes
-€10,473
Result 2025
€33,042
raises the resultlowers the result
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.
From operations
+€58,079
Investment
+€7,521
Financing
-€64,028
Cash 2024
€0
From operations (derived)
+€58,079
Net result for the year
+€33,042
Depreciation
+€35,074
Receivables within one year
+€183,015
Deferred charges and accrued income
-€129,219
Trade debts
-€19,258
Tax, wage and social debts
+€30,520
Other debts
-€75,000
Accrued charges and deferred income
-€95
Investment (derived)
+€7,521
Investment in fixed assets (net)
+€7,521
Financing
-€64,028
Debts after one year
-€50,004
Short-term financial debts
-€14,024
Cash 2025
€1,572
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,273,039 | €6,178,220 | -€94,819 | -1.5% |
| Fixed assets | 21/28 | €1,013,223 | €970,628 | -€42,595 | -4.2% |
| Tangible fixed assets | 22/27 | €720,911 | €689,716 | -€31,195 | -4.3% |
| Land and buildings | 22 | €707,600 | €675,143 | -€32,457 | -4.6% |
| Plant, machinery and equipment | 23 | €11,587 | €13,485 | +€1,898 | +16.4% |
| Furniture and vehicles | 24 | €1,724 | €1,088 | -€636 | -36.9% |
| Financial fixed assets | 28 | €292,312 | €280,912 | -€11,400 | -3.9% |
| Current assets | 29/58 | €5,259,816 | €5,207,592 | -€52,224 | -1.0% |
| Amounts receivable after more than one year | 29 | €25,892 | €25,892 | = | 0.0% |
| Other amounts receivable | 291 | €25,892 | €25,892 | = | 0.0% |
| Stocks and contracts in progress | 3 | €1,002,711 | €1,002,711 | = | 0.0% |
| Stocks | 30/36 | €1,002,711 | €1,002,711 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,057,903 | €3,874,888 | -€183,015 | -4.5% |
| Trade receivables | 40 | €1,029 | - | -€1,029 | |
| Other amounts receivable | 41 | €4,056,874 | €3,874,888 | -€181,987 | -4.5% |
| Cash at bank and in hand | 54/58 | - | €1,572 | +€1,572 | |
| Deferred charges and accrued income | 490/1 | €173,310 | €302,529 | +€129,219 | +74.6% |
| Total equity and liabilities | 10/49 | €6,273,039 | €6,178,220 | -€94,819 | -1.5% |
| Equity | 10/15 | €2,880,077 | €2,913,119 | +€33,042 | +1.1% |
| Contributions | 10/11 | €247,894 | €247,894 | = | 0.0% |
| Capital | 10 | €247,894 | €247,894 | = | 0.0% |
| Issued capital | 100 | €247,894 | €247,894 | = | 0.0% |
| Reserves | 13 | €24,789 | €24,789 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,789 | €24,789 | = | 0.0% |
| Legal reserve | 130 | €24,789 | €24,789 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,607,394 | €2,640,436 | +€33,042 | +1.3% |
| Amounts payable | 17/49 | €3,392,962 | €3,265,101 | -€127,860 | -3.8% |
| Amounts payable after more than one year | 17 | €187,453 | €137,449 | -€50,004 | -26.7% |
| Financial debts | 170/4 | €187,453 | €137,449 | -€50,004 | -26.7% |
| Amounts payable within one year | 42/48 | €3,201,402 | €3,123,640 | -€77,761 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €50,004 | €50,004 | = | 0.0% |
| Financial debts | 43 | €1,537,981 | €1,523,957 | -€14,024 | -0.9% |
| Credit institutions | 430/8 | €1,537,981 | €1,523,957 | -€14,024 | -0.9% |
| Trade debts | 44 | €19,556 | €298 | -€19,258 | -98.5% |
| Suppliers | 440/4 | €19,556 | €298 | -€19,258 | -98.5% |
| Taxes, remuneration and social security | 45 | €18,861 | €49,381 | +€30,520 | +162% |
| Taxes | 450/3 | €18,861 | €49,381 | +€30,520 | +162% |
| Other amounts payable | 47/48 | €1,575,000 | €1,500,000 | -€75,000 | -4.8% |
| Accrued charges and deferred income | 492/3 | €4,107 | €4,012 | -€95 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,760 | €35,074 | -€24,685 | -41.3% |
| Other operating charges | 640/8 | €7,197 | €4,657 | -€2,541 | -35.3% |
| Gross operating margin | 9900 | €85,809 | €34,708 | -€51,100 | -59.6% |
| Operating profit (loss) | 9901 | €18,851 | -€5,023 | -€23,874 | |
| Financial income | 75/76B | €2,123,550 | €144,544 | -€2.0m | -93.2% |
| Recurring financial income | 75 | €1,223,550 | €144,544 | -€1.1m | -88.2% |
| Non-recurring financial income | 76B | €900,000 | - | -€900,000 | |
| Financial charges | 65/66B | €1,392,001 | €75,564 | -€1.3m | -94.6% |
| Recurring financial charges | 65 | €91,248 | €64,165 | -€27,083 | -29.7% |
| Non-recurring financial charges | 66B | €1,300,753 | €11,399 | -€1.3m | -99.1% |
| Profit (loss) for the period before taxes | 9903 | €750,401 | €63,958 | -€686,443 | -91.5% |
| Income taxes | 67/77 | €20,443 | €30,916 | +€10,473 | +51.2% |
| Profit (loss) for the period | 9904 | €729,957 | €33,042 | -€696,916 | -95.5% |
| Profit (loss) for the period to be appropriated | 9905 | €729,957 | €33,042 | -€696,916 | -95.5% |
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 13 October 2026 via checked.be.