Delft Blue Management: what changed
Delft Blue Management
Largest movements
- Receivables within one year +€59,001
up €59,001 (+173%), from €34,065 to €93,066
of which Trade receivables: +€42,893
- Tangible fixed assets -€40,225
down €40,225 (-18.7%), from €214,881 to €174,656
of which Furniture and vehicles: -€31,149
- Financial fixed assets -€30,070
down €30,070 (-24.0%), from €125,384 to €95,314
- Cash +€16,167
up €16,167 (+40.3%), from €40,154 to €56,321
mainly Net result for the year (+€153,087) and Other debts (+€66,420)
- Reserves -€72,243
down €72,243 (-54.4%), from €132,765 to €60,522
- Other debts +€66,420
up €66,420 (+33.8%), from €196,468 to €262,888
- Trade debts -€14,138
down €14,138 (-85.9%), from €16,452 to €2,315
- Tax, wage and social debts +€13,387
up €13,387 (+83.4%), from €16,061 to €29,448
of which Taxes: +€12,481
- Profit (loss) carried forward +€8,353
up €8,353, from -€8,353 to €0
- Financial income -€318,673
down €318,673 (-72.7%), from €438,172 to €119,499
- Gross operating margin +€125,794
up €125,794 (+365%), from €34,491 to €160,285
- Taxes +€20,513
up €20,513 (+1,305%), from €1,572 to €22,085
- Depreciation -€6,748
down €6,748 (-39.3%), from €17,178 to €10,430
- Staff costs +€2,626
up €2,626 (+10.5%), from €24,983 to €27,609
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €423,134 | €427,006 | +€3,872 | +0.9% |
| Fixed assets | 21/28 | €340,265 | €269,969 | -€70,295 | -20.7% |
| Tangible fixed assets | 22/27 | €214,881 | €174,656 | -€40,225 | -18.7% |
| Land and buildings | 22 | €165,767 | €161,296 | -€4,471 | -2.7% |
| Furniture and vehicles | 24 | €33,407 | €2,258 | -€31,149 | -93.2% |
| Other tangible fixed assets | 26 | €15,707 | €11,102 | -€4,605 | -29.3% |
| Financial fixed assets | 28 | €125,384 | €95,314 | -€30,070 | -24.0% |
| Current assets | 29/58 | €82,870 | €157,037 | +€74,167 | +89.5% |
| Amounts receivable within one year | 40/41 | €34,065 | €93,066 | +€59,001 | +173% |
| Trade receivables | 40 | €12,857 | €55,750 | +€42,893 | +334% |
| Other amounts receivable | 41 | €21,207 | €37,316 | +€16,109 | +76.0% |
| Cash at bank and in hand | 54/58 | €40,154 | €56,321 | +€16,167 | +40.3% |
| Deferred charges and accrued income | 490/1 | €8,651 | €7,650 | -€1,001 | -11.6% |
| Total equity and liabilities | 10/49 | €423,134 | €427,006 | +€3,872 | +0.9% |
| Equity | 10/15 | €124,413 | €60,523 | -€63,890 | -51.4% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €132,765 | €60,522 | -€72,243 | -54.4% |
| Distributable reserves | 133 | €132,765 | €60,522 | -€72,243 | -54.4% |
| Profit (loss) carried forward | 14 | -€8,353 | €0 | +€8,353 | |
| Amounts payable | 17/49 | €298,721 | €366,483 | +€67,762 | +22.7% |
| Amounts payable after more than one year | 17 | €69,729 | €71,821 | +€2,092 | +3.0% |
| Financial debts | 170/4 | €69,729 | €71,821 | +€2,092 | +3.0% |
| Amounts payable within one year | 42/48 | €228,992 | €294,662 | +€65,671 | +28.7% |
| Financial debts | 43 | €11 | €12 | +€1 | +9.1% |
| Credit institutions | 430/8 | €11 | €12 | +€1 | +9.1% |
| Trade debts | 44 | €16,452 | €2,315 | -€14,138 | -85.9% |
| Suppliers | 440/4 | €16,452 | €2,315 | -€14,138 | -85.9% |
| Taxes, remuneration and social security | 45 | €16,061 | €29,448 | +€13,387 | +83.4% |
| Taxes | 450/3 | €9,924 | €22,405 | +€12,481 | +126% |
| Remuneration and social security | 454/9 | €6,137 | €7,043 | +€906 | +14.8% |
| Other amounts payable | 47/48 | €196,468 | €262,888 | +€66,420 | +33.8% |
| Remuneration, social security and pensions | 62 | €24,983 | €27,609 | +€2,626 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,178 | €10,430 | -€6,748 | -39.3% |
| Other operating charges | 640/8 | €3,231 | €3,270 | +€39 | +1.2% |
| Non-recurring operating charges | 66A | €949 | €51,930 | +€50,981 | +5,372% |
| Gross operating margin | 9900 | €34,491 | €160,285 | +€125,794 | +365% |
| Operating profit (loss) | 9901 | -€11,850 | €67,046 | +€78,896 | |
| Financial income | 75/76B | €438,172 | €119,499 | -€318,673 | -72.7% |
| Recurring financial income | 75 | €438,172 | €119,499 | -€318,673 | -72.7% |
| Financial charges | 65/66B | €13,103 | €11,372 | -€1,730 | -13.2% |
| Recurring financial charges | 65 | €13,103 | €11,372 | -€1,730 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €413,219 | €175,172 | -€238,047 | -57.6% |
| Income taxes | 67/77 | €1,572 | €22,085 | +€20,513 | +1,305% |
| Profit (loss) for the period | 9904 | €411,647 | €153,087 | -€258,560 | -62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €411,647 | €153,087 | -€258,560 | -62.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.