DELHER: 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.
DELHER
Largest movements
- Receivables within one year -€64,007
down €64,007 (-64.0%), from €100,080 to €36,073
of which Other amounts receivable: -€74,564
- Tangible fixed assets -€58,766
down €58,766 (-7.8%), from €749,689 to €690,923
of which Plant, machinery and equipment: -€34,271
- Debts after one year -€86,506
down €86,506 (-15.8%), from €546,479 to €459,973
- Other debts -€44,392
down €44,392 (-25.8%), from €172,033 to €127,641
- Tax, wage and social debts +€29,940
up €29,940 (+176.2%), from €16,990 to €46,930
of which Remuneration and social security: +€27,763
- Trade debts -€19,338
down €19,338 (-23.8%), from €81,404 to €62,066
- Gross operating margin +€311,522
up €311,522 (+228.3%), from €136,427 to €447,949
- Staff costs +€184,556
up €184,556 (+127.1%), from €145,173 to €329,729
- Depreciation +€42,900
up €42,900 (+128.3%), from €33,428 to €76,328
- Financial charges +€14,185
up €14,185 (+100.3%), from €14,139 to €28,323
- Taxes -€5,750
down €5,750, from €5,000 to -€750
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 | €892,975 | €777,416 | -€115,559 | -12.9% |
| Formation expenses | 20 | €21,367 | €16,639 | -€4,728 | -22.1% |
| Fixed assets | 21/28 | €749,689 | €690,923 | -€58,766 | -7.8% |
| Tangible fixed assets | 22/27 | €749,689 | €690,923 | -€58,766 | -7.8% |
| Plant, machinery and equipment | 23 | €224,648 | €190,377 | -€34,271 | -15.3% |
| Furniture and vehicles | 24 | €4,002 | €6,650 | +€2,648 | +66.2% |
| Other tangible fixed assets | 26 | €519,839 | €493,896 | -€25,943 | -5.0% |
| Assets under construction and advance payments | 27 | €1,200 | €0 | -€1,200 | -100.0% |
| Current assets | 29/58 | €121,918 | €69,854 | -€52,065 | -42.7% |
| Stocks and contracts in progress | 3 | €10,265 | €16,200 | +€5,935 | +57.8% |
| Stocks | 30/36 | €10,265 | €16,200 | +€5,935 | +57.8% |
| Amounts receivable within one year | 40/41 | €100,080 | €36,073 | -€64,007 | -64.0% |
| Trade receivables | 40 | €16,545 | €27,102 | +€10,557 | +63.8% |
| Other amounts receivable | 41 | €83,535 | €8,971 | -€74,564 | -89.3% |
| Cash at bank and in hand | 54/58 | €6,178 | €9,046 | +€2,868 | +46.4% |
| Deferred charges and accrued income | 490/1 | €5,395 | €8,535 | +€3,139 | +58.2% |
| Total equity and liabilities | 10/49 | €892,975 | €777,416 | -€115,559 | -12.9% |
| Equity | 10/15 | -€7,778 | -€9,998 | -€2,220 | -28.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,278 | -€71,498 | -€2,220 | -3.2% |
| Amounts payable | 17/49 | €900,753 | €787,414 | -€113,339 | -12.6% |
| Amounts payable after more than one year | 17 | €546,479 | €459,973 | -€86,506 | -15.8% |
| Financial debts | 170/4 | €546,479 | €459,973 | -€86,506 | -15.8% |
| Amounts payable within one year | 42/48 | €353,643 | €323,143 | -€30,500 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €83,216 | €86,506 | +€3,290 | +4.0% |
| Trade debts | 44 | €81,404 | €62,066 | -€19,338 | -23.8% |
| Suppliers | 440/4 | €81,404 | €62,066 | -€19,338 | -23.8% |
| Taxes, remuneration and social security | 45 | €16,990 | €46,930 | +€29,940 | +176.2% |
| Taxes | 450/3 | - | €2,178 | +€2,178 | |
| Remuneration and social security | 454/9 | €16,990 | €44,753 | +€27,763 | +163.4% |
| Other amounts payable | 47/48 | €172,033 | €127,641 | -€44,392 | -25.8% |
| Accrued charges and deferred income | 492/3 | €631 | €4,298 | +€3,667 | +580.8% |
| Non-recurring operating income | 76A | €8,605 | €20 | -€8,584 | -99.8% |
| Remuneration, social security and pensions | 62 | €145,173 | €329,729 | +€184,556 | +127.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,428 | €76,328 | +€42,900 | +128.3% |
| Other operating charges | 640/8 | €583 | €3,023 | +€2,440 | +418.6% |
| Non-recurring operating charges | 66A | €8,087 | €13,515 | +€5,428 | +67.1% |
| Gross operating margin | 9900 | €136,427 | €447,949 | +€311,522 | +228.3% |
| Operating profit (loss) | 9901 | -€50,844 | €25,354 | +€76,198 | |
| Financial income | 75/76B | €705 | €0 | -€705 | -100.0% |
| Recurring financial income | 75 | €705 | €0 | -€705 | -100.0% |
| Financial charges | 65/66B | €14,139 | €28,323 | +€14,185 | +100.3% |
| Recurring financial charges | 65 | €14,139 | €28,323 | +€14,185 | +100.3% |
| Profit (loss) for the period before taxes | 9903 | -€64,278 | -€2,970 | +€61,308 | +95.4% |
| Income taxes | 67/77 | €5,000 | -€750 | -€5,750 | |
| Profit (loss) for the period | 9904 | -€69,278 | -€2,220 | +€67,058 | +96.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€69,278 | -€2,220 | +€67,058 | +96.8% |
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 9 October 2026 via checked.be.