DELHEN: what changed
Two fiscal 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.
DELHEN
Largest movements
- Tangible fixed assets -€21,884
down €21,884 (-35.1%), from €62,348 to €40,463
of which Land and buildings: -€33,431
- Stocks and contracts +€18,777
up €18,777 (+41.5%), from €45,210 to €63,987
- Cash +€9,538
up €9,538 (+13.7%), from €69,524 to €79,062
mainly Depreciation (+€27,380) and Net result for the year (+€23,473)
- Receivables within one year -€6,755
down €6,755 (-78.6%), from €8,593 to €1,838
of which Other amounts receivable: -€8,493
- Intangible fixed assets -€3,600
down €3,600 (-31.3%), from €11,510 to €7,910
- Debts after one year -€30,482
down €30,482 (-45.8%), from €66,486 to €36,004
- Reserves +€27,000
new in 2025: €27,000
- Tax, wage and social debts +€8,778
up €8,778 (+38.8%), from €22,621 to €31,399
of which Taxes: +€7,860
- Current portion of long-term debt -€8,483
down €8,483 (-21.8%), from €38,965 to €30,482
- Profit (loss) carried forward -€3,527
down €3,527 (-91.8%), from €3,842 to €315
- Depreciation -€16,926
down €16,926 (-38.2%), from €44,306 to €27,380
- Gross operating margin -€15,612
down €15,612 (-12.3%), from €126,519 to €110,907
- Staff costs -€13,324
down €13,324 (-23.1%), from €57,761 to €44,437
- Financial charges -€12,967
down €12,967 (-70.7%), from €18,340 to €5,372
- Taxes +€8,871
up €8,871 (+2957.2%), from €300 to €9,171
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 | €201,522 | €197,345 | -€4,177 | -2.1% |
| Formation expenses | 20 | €1,267 | €861 | -€407 | -32.1% |
| Fixed assets | 21/28 | €73,858 | €48,374 | -€25,484 | -34.5% |
| Intangible fixed assets | 21 | €11,510 | €7,910 | -€3,600 | -31.3% |
| Tangible fixed assets | 22/27 | €62,348 | €40,463 | -€21,884 | -35.1% |
| Land and buildings | 22 | €34,123 | €691 | -€33,431 | -98.0% |
| Plant, machinery and equipment | 23 | €1,746 | €25,129 | +€23,384 | +1339.5% |
| Furniture and vehicles | 24 | €26,479 | €14,643 | -€11,837 | -44.7% |
| Current assets | 29/58 | €126,397 | €148,111 | +€21,714 | +17.2% |
| Stocks and contracts in progress | 3 | €45,210 | €63,987 | +€18,777 | +41.5% |
| Stocks | 30/36 | €45,210 | €63,987 | +€18,777 | +41.5% |
| Amounts receivable within one year | 40/41 | €8,593 | €1,838 | -€6,755 | -78.6% |
| Trade receivables | 40 | - | €1,738 | +€1,738 | |
| Other amounts receivable | 41 | €8,593 | €100 | -€8,493 | -98.8% |
| Cash at bank and in hand | 54/58 | €69,524 | €79,062 | +€9,538 | +13.7% |
| Deferred charges and accrued income | 490/1 | €3,070 | €3,224 | +€154 | +5.0% |
| Total equity and liabilities | 10/49 | €201,522 | €197,345 | -€4,177 | -2.1% |
| Equity | 10/15 | €33,842 | €57,315 | +€23,473 | +69.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | - | €27,000 | +€27,000 | |
| Distributable reserves | 133 | - | €27,000 | +€27,000 | |
| Profit (loss) carried forward | 14 | €3,842 | €315 | -€3,527 | -91.8% |
| Amounts payable | 17/49 | €167,680 | €140,030 | -€27,650 | -16.5% |
| Amounts payable after more than one year | 17 | €66,486 | €36,004 | -€30,482 | -45.8% |
| Financial debts | 170/4 | €66,486 | €36,004 | -€30,482 | -45.8% |
| Amounts payable within one year | 42/48 | €101,194 | €104,025 | +€2,832 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €38,965 | €30,482 | -€8,483 | -21.8% |
| Trade debts | 44 | €7,962 | €10,471 | +€2,509 | +31.5% |
| Suppliers | 440/4 | €7,962 | €10,471 | +€2,509 | +31.5% |
| Taxes, remuneration and social security | 45 | €22,621 | €31,399 | +€8,778 | +38.8% |
| Taxes | 450/3 | €17,806 | €25,666 | +€7,860 | +44.1% |
| Remuneration and social security | 454/9 | €4,815 | €5,733 | +€918 | +19.1% |
| Other amounts payable | 47/48 | €31,645 | €31,673 | +€28 | +0.1% |
| Remuneration, social security and pensions | 62 | €57,761 | €44,437 | -€13,324 | -23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,306 | €27,380 | -€16,926 | -38.2% |
| Other operating charges | 640/8 | €2,043 | €1,268 | -€775 | -37.9% |
| Gross operating margin | 9900 | €126,519 | €110,907 | -€15,612 | -12.3% |
| Operating profit (loss) | 9901 | €22,409 | €37,821 | +€15,413 | +68.8% |
| Financial income | 75/76B | €73 | €195 | +€122 | +166.0% |
| Recurring financial income | 75 | €73 | €195 | +€122 | +166.0% |
| Financial charges | 65/66B | €18,340 | €5,372 | -€12,967 | -70.7% |
| Recurring financial charges | 65 | €18,340 | €5,372 | -€12,967 | -70.7% |
| Profit (loss) for the period before taxes | 9903 | €4,142 | €32,644 | +€28,502 | +688.1% |
| Income taxes | 67/77 | €300 | €9,171 | +€8,871 | +2957.2% |
| Profit (loss) for the period | 9904 | €3,842 | €23,473 | +€19,631 | +510.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,842 | €23,473 | +€19,631 | +510.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.