DELFRAN: 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
DELFRAN
NACE 55.100, Hotels and similar accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€302,544
2024 · €310,843-€8,298
Equity
€4.4m
2024 · €4.1m+€302,544
Cash
€205,658
2024 · €316,196-€110,539
Balance sheet total
€5.6m
2024 · €5.7m-€65,965
Largest movements
Assets
- Current investments +€300,000
up €300,000, from €0 to €300,000
- Tangible fixed assets -€257,826
down €257,826 (-4.8%), from €5.3m to €5.1m
of which Plant, machinery and equipment: -€142,945
- Cash -€110,539
down €110,539 (-35.0%), from €316,196 to €205,658
mainly Current investments (-€300,000) and Debts after one year (-€250,778)
Equity and liabilities
- Reserves +€302,544
up €302,544 (+10.8%), from €2.8m to €3.1m
of which Distributable reserves: +€365,566
- Debts after one year -€250,778
down €250,778 (-36.2%), from €692,209 to €441,431
- Other debts -€91,745
down €91,745 (-42.7%), from €214,889 to €123,144
Income statement
- Financial charges -€56,368
down €56,368 (-62.8%), from €89,801 to €33,434
- Provisions +€21,200
up €21,200, from -€21,200 to €0
- Staff costs +€15,230
up €15,230 (+4.1%), from €369,324 to €384,554
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
€310,843
Gross operating margin
-€11,704
Staff costs
-€15,230
Depreciation
-€3,281
Provisions
-€21,200
Other operating charges
-€2,794
Financial income
+€39
Financial charges
+€56,368
Taxes
-€10,791
Deferred taxes and other
+€295
Result 2025
€302,544
raises the resultlowers the resultnot broken down further in the accounts
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
+€626,593
Investment
-€452,300
Financing
-€284,832
Cash 2024
€316,196
From operations (derived)
+€626,593
Net result for the year
+€302,544
Depreciation
+€405,029
Receivables within one year
+€2,697
Provisions
-€20,194
Trade debts
+€975
Tax, wage and social debts
+€38,921
Advances received
+€2,385
Other debts
-€91,745
Accrued charges and deferred income
-€14,020
Investment (derived)
-€452,300
Investment in fixed assets (net)
-€152,300
Current investments
-€300,000
Financing
-€284,832
Debts after one year
-€250,778
Current portion of long-term debt
-€33,702
Short-term financial debts
-€352
Cash 2025
€205,658
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,671,498 | €5,605,533 | -€65,965 | -1.2% |
| Fixed assets | 21/28 | €5,332,381 | €5,079,652 | -€252,729 | -4.7% |
| Intangible fixed assets | 21 | €4,183 | €9,280 | +€5,097 | +122% |
| Tangible fixed assets | 22/27 | €5,328,198 | €5,070,372 | -€257,826 | -4.8% |
| Land and buildings | 22 | €3,588,569 | €3,485,749 | -€102,820 | -2.9% |
| Plant, machinery and equipment | 23 | €1,491,557 | €1,348,613 | -€142,945 | -9.6% |
| Furniture and vehicles | 24 | €248,072 | €229,083 | -€18,988 | -7.7% |
| Other tangible fixed assets | 26 | - | €6,927 | +€6,927 | |
| Current assets | 29/58 | €339,117 | €525,881 | +€186,764 | +55.1% |
| Amounts receivable within one year | 40/41 | €22,920 | €20,223 | -€2,697 | -11.8% |
| Trade receivables | 40 | €22,920 | €20,183 | -€2,737 | -11.9% |
| Other amounts receivable | 41 | €0 | €40 | +€40 | |
| Current investments | 50/53 | €0 | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €316,196 | €205,658 | -€110,539 | -35.0% |
| Total equity and liabilities | 10/49 | €5,671,498 | €5,605,533 | -€65,965 | -1.2% |
| Equity | 10/15 | €4,061,521 | €4,364,066 | +€302,544 | +7.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €1,250,000 | €1,250,000 | = | 0.0% |
| Reserves | 13 | €2,792,921 | €3,095,466 | +€302,544 | +10.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €779,492 | €716,471 | -€63,021 | -8.1% |
| Distributable reserves | 133 | €2,013,429 | €2,378,995 | +€365,566 | +18.2% |
| Provisions and deferred taxes | 16 | €232,064 | €211,870 | -€20,194 | -8.7% |
| Provisions for liabilities and charges | 160/5 | €42,400 | €42,400 | = | 0.0% |
| Major repairs and maintenance | 162 | €42,400 | €42,400 | = | 0.0% |
| Deferred taxes | 168 | €189,664 | €169,470 | -€20,194 | -10.6% |
| Amounts payable | 17/49 | €1,377,913 | €1,029,598 | -€348,314 | -25.3% |
| Amounts payable after more than one year | 17 | €692,209 | €441,431 | -€250,778 | -36.2% |
| Financial debts | 170/4 | €692,209 | €441,431 | -€250,778 | -36.2% |
| Amounts payable within one year | 42/48 | €671,684 | €588,167 | -€83,517 | -12.4% |
| Current portion of amounts payable after more than one year | 42 | €284,480 | €250,778 | -€33,702 | -11.8% |
| Financial debts | 43 | €352 | €0 | -€352 | -100% |
| Credit institutions | 430/8 | €352 | €0 | -€352 | -100% |
| Trade debts | 44 | €49,964 | €50,940 | +€975 | +2.0% |
| Suppliers | 440/4 | €49,964 | €50,940 | +€975 | +2.0% |
| Advances received on contracts in progress | 46 | €3,334 | €5,719 | +€2,385 | +71.5% |
| Taxes, remuneration and social security | 45 | €118,665 | €157,586 | +€38,921 | +32.8% |
| Taxes | 450/3 | €72,412 | €87,824 | +€15,411 | +21.3% |
| Remuneration and social security | 454/9 | €46,253 | €69,763 | +€23,510 | +50.8% |
| Other amounts payable | 47/48 | €214,889 | €123,144 | -€91,745 | -42.7% |
| Accrued charges and deferred income | 492/3 | €14,020 | €0 | -€14,020 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €369,324 | €384,554 | +€15,230 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €401,748 | €405,029 | +€3,281 | +0.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€21,200 | €0 | +€21,200 | |
| Other operating charges | 640/8 | €55,701 | €58,495 | +€2,794 | +5.0% |
| Gross operating margin | 9900 | €1,331,606 | €1,319,902 | -€11,704 | -0.9% |
| Operating profit (loss) | 9901 | €526,033 | €471,824 | -€54,209 | -10.3% |
| Financial income | 75/76B | €8,558 | €8,597 | +€39 | +0.5% |
| Recurring financial income | 75 | €8,558 | €8,597 | +€39 | +0.5% |
| Financial charges | 65/66B | €89,801 | €33,434 | -€56,368 | -62.8% |
| Recurring financial charges | 65 | €89,801 | €33,434 | -€56,368 | -62.8% |
| Profit (loss) for the period before taxes | 9903 | €444,789 | €446,987 | +€2,198 | +0.5% |
| Transfer from deferred taxes | 780 | €19,899 | €20,194 | +€295 | +1.5% |
| Income taxes | 67/77 | €153,846 | €164,637 | +€10,791 | +7.0% |
| Profit (loss) for the period | 9904 | €310,843 | €302,544 | -€8,298 | -2.7% |
| Transfer from tax-exempt reserves | 789 | €59,698 | €63,021 | +€3,324 | +5.6% |
| Transfer to tax-exempt reserves | 689 | €105,250 | €0 | -€105,250 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €265,291 | €365,566 | +€100,275 | +37.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.