DELFRO: 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.
DELFRO
Largest movements
- Tangible fixed assets +€45,148
up €45,148 (+39.6%), from €113,944 to €159,092
of which Furniture and vehicles: +€46,091
- Receivables within one year -€26,986
down €26,986 (-47.2%), from €57,230 to €30,243
of which Other amounts receivable: -€20,876
- Cash +€11,038
up €11,038 (+18.7%), from €58,886 to €69,924
mainly Net result for the year (+€57,721) and Depreciation (+€31,672)
- Deferred charges and accrued income +€4,310
up €4,310 (+116.7%), from €3,693 to €8,003
- Stocks and contracts +€3,822
up €3,822 (+21.9%), from €17,432 to €21,254
- Reserves +€50,721
up €50,721 (+38.4%), from €132,044 to €182,766
- Other debts -€46,091
down €46,091 (-73.2%), from €63,000 to €16,909
- Debts after one year +€18,625
up €18,625 (+95.1%), from €19,586 to €38,211
- Current portion of long-term debt +€12,597
up €12,597 (+107.5%), from €11,719 to €24,315
- Gross operating margin +€49,716
up €49,716 (+82.3%), from €60,409 to €110,124
- Taxes +€11,589
up €11,589 (+133.8%), from €8,663 to €20,252
- Depreciation +€1,768
up €1,768 (+5.9%), from €29,904 to €31,672
- Financial income +€1,618
up €1,618 (+86.8%), from €1,865 to €3,483
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 | €251,433 | €288,766 | +€37,333 | +14.8% |
| Fixed assets | 21/28 | €114,192 | €159,340 | +€45,148 | +39.5% |
| Tangible fixed assets | 22/27 | €113,944 | €159,092 | +€45,148 | +39.6% |
| Land and buildings | 22 | €45,181 | €42,127 | -€3,053 | -6.8% |
| Plant, machinery and equipment | 23 | €7,201 | €11,137 | +€3,936 | +54.7% |
| Furniture and vehicles | 24 | €50,898 | €96,989 | +€46,091 | +90.6% |
| Other tangible fixed assets | 26 | €10,664 | €8,838 | -€1,826 | -17.1% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €137,241 | €129,426 | -€7,815 | -5.7% |
| Stocks and contracts in progress | 3 | €17,432 | €21,254 | +€3,822 | +21.9% |
| Stocks | 30/36 | €17,432 | €21,254 | +€3,822 | +21.9% |
| Amounts receivable within one year | 40/41 | €57,230 | €30,243 | -€26,986 | -47.2% |
| Trade receivables | 40 | €27,444 | €21,334 | -€6,110 | -22.3% |
| Other amounts receivable | 41 | €29,786 | €8,910 | -€20,876 | -70.1% |
| Cash at bank and in hand | 54/58 | €58,886 | €69,924 | +€11,038 | +18.7% |
| Deferred charges and accrued income | 490/1 | €3,693 | €8,003 | +€4,310 | +116.7% |
| Total equity and liabilities | 10/49 | €251,433 | €288,766 | +€37,333 | +14.8% |
| Equity | 10/15 | €138,244 | €188,966 | +€50,721 | +36.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €132,044 | €182,766 | +€50,721 | +38.4% |
| Non-distributable reserves | 130/1 | €132,044 | €182,766 | +€50,721 | +38.4% |
| Other | 1319 | €132,044 | €182,766 | +€50,721 | +38.4% |
| Amounts payable | 17/49 | €113,189 | €99,800 | -€13,388 | -11.8% |
| Amounts payable after more than one year | 17 | €19,586 | €38,211 | +€18,625 | +95.1% |
| Financial debts | 170/4 | €19,586 | €38,211 | +€18,625 | +95.1% |
| Amounts payable within one year | 42/48 | €93,602 | €61,589 | -€32,014 | -34.2% |
| Current portion of amounts payable after more than one year | 42 | €11,719 | €24,315 | +€12,597 | +107.5% |
| Trade debts | 44 | €18,084 | €19,564 | +€1,481 | +8.2% |
| Suppliers | 440/4 | €18,084 | €19,564 | +€1,481 | +8.2% |
| Taxes, remuneration and social security | 45 | €800 | €800 | = | 0.0% |
| Taxes | 450/3 | €800 | €800 | = | 0.0% |
| Other amounts payable | 47/48 | €63,000 | €16,909 | -€46,091 | -73.2% |
| Non-recurring operating income | 76A | €1,000 | €22,617 | +€21,617 | +2161.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,904 | €31,672 | +€1,768 | +5.9% |
| Other operating charges | 640/8 | €1,386 | €1,269 | -€117 | -8.4% |
| Non-recurring operating charges | 66A | €53 | €363 | +€310 | +585.7% |
| Gross operating margin | 9900 | €60,409 | €110,124 | +€49,716 | +82.3% |
| Operating profit (loss) | 9901 | €29,067 | €76,820 | +€47,754 | +164.3% |
| Financial income | 75/76B | €1,865 | €3,483 | +€1,618 | +86.8% |
| Recurring financial income | 75 | €1,865 | €3,483 | +€1,618 | +86.8% |
| Financial charges | 65/66B | €3,197 | €2,330 | -€867 | -27.1% |
| Recurring financial charges | 65 | €3,197 | €2,330 | -€867 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €27,734 | €77,973 | +€50,239 | +181.1% |
| Income taxes | 67/77 | €8,663 | €20,252 | +€11,589 | +133.8% |
| Profit (loss) for the period | 9904 | €19,071 | €57,721 | +€38,650 | +202.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,071 | €57,721 | +€38,650 | +202.7% |
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 10 October 2026 via checked.be.