DELFORGE EVENT: 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.
DELFORGE EVENT
Largest movements
- Tangible fixed assets +€146,426
up €146,426 (+2,479%), from €5,906 to €152,332
- Cash -€64,340
down €64,340 (-41.8%), from €153,877 to €89,537
mainly Investment in fixed assets (net) (-€179,240) and Other debts (-€12,694)
- Receivables within one year -€4,634
down €4,634 (-99.5%), from €4,657 to €24
- Debts after one year +€73,787
new in 2025: €73,787
- Current portion of long-term debt +€18,658
new in 2025: €18,658
- Other debts -€12,694
no longer reported in 2025 (was €12,694)
- Tax, wage and social debts -€4,975
down €4,975 (-86.6%), from €5,743 to €769
- Profit (loss) carried forward +€3,312
up €3,312 (+2.3%), from €141,459 to €144,772
- Depreciation +€30,830
up €30,830 (+1,554%), from €1,984 to €32,814
- Other operating charges -€14,190
down €14,190 (-96.2%), from €14,757 to €567
- Gross operating margin +€8,366
up €8,366 (+25.8%), from €32,416 to €40,782
- Taxes -€4,210
no longer reported in 2025 (was €4,210)
- Financial charges +€3,679
up €3,679 (+890%), from €413 to €4,092
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €166,496 | €244,585 | +€78,089 | +46.9% |
| Fixed assets | 21/28 | €7,001 | €153,427 | +€146,426 | +2,091% |
| Tangible fixed assets | 22/27 | €5,906 | €152,332 | +€146,426 | +2,479% |
| Plant, machinery and equipment | 23 | €5,906 | €152,332 | +€146,426 | +2,479% |
| Financial fixed assets | 28 | €1,095 | €1,095 | = | 0.0% |
| Current assets | 29/58 | €159,495 | €91,158 | -€68,337 | -42.8% |
| Amounts receivable after more than one year | 29 | €177 | - | -€177 | |
| Trade receivables | 290 | €177 | - | -€177 | |
| Amounts receivable within one year | 40/41 | €4,657 | €24 | -€4,634 | -99.5% |
| Trade receivables | 40 | €4,657 | €24 | -€4,634 | -99.5% |
| Cash at bank and in hand | 54/58 | €153,877 | €89,537 | -€64,340 | -41.8% |
| Deferred charges and accrued income | 490/1 | €784 | €1,597 | +€813 | +104% |
| Total equity and liabilities | 10/49 | €166,496 | €244,585 | +€78,089 | +46.9% |
| Equity | 10/15 | €148,059 | €151,372 | +€3,312 | +2.2% |
| Contributions | 10/11 | €6,600 | €6,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €141,459 | €144,772 | +€3,312 | +2.3% |
| Amounts payable | 17/49 | €18,437 | €93,214 | +€74,776 | +406% |
| Amounts payable after more than one year | 17 | - | €73,787 | +€73,787 | |
| Financial debts | 170/4 | - | €73,787 | +€73,787 | |
| Amounts payable within one year | 42/48 | €18,437 | €19,427 | +€989 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | - | €18,658 | +€18,658 | |
| Taxes, remuneration and social security | 45 | €5,743 | €769 | -€4,975 | -86.6% |
| Taxes | 450/3 | €5,743 | €769 | -€4,975 | -86.6% |
| Other amounts payable | 47/48 | €12,694 | - | -€12,694 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,984 | €32,814 | +€30,830 | +1,554% |
| Other operating charges | 640/8 | €14,757 | €567 | -€14,190 | -96.2% |
| Gross operating margin | 9900 | €32,416 | €40,782 | +€8,366 | +25.8% |
| Operating profit (loss) | 9901 | €15,675 | €7,401 | -€8,274 | -52.8% |
| Financial income | 75/76B | €14 | €3 | -€11 | -75.3% |
| Recurring financial income | 75 | €14 | €3 | -€11 | -75.3% |
| Financial charges | 65/66B | €413 | €4,092 | +€3,679 | +890% |
| Recurring financial charges | 65 | €413 | €4,092 | +€3,679 | +890% |
| Profit (loss) for the period before taxes | 9903 | €15,276 | €3,312 | -€11,963 | -78.3% |
| Income taxes | 67/77 | €4,210 | - | -€4,210 | |
| Profit (loss) for the period | 9904 | €11,066 | €3,312 | -€7,753 | -70.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,066 | €3,312 | -€7,753 | -70.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.