DELIFISH: 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.
DELIFISH
Largest movements
- Cash -€522,036
down €522,036 (-90.5%), from €576,670 to €54,635
mainly Investment in fixed assets (net) (-€655,054) and Contributions, distributions and other (-€480,000)
- Tangible fixed assets +€497,014
up €497,014 (+281.8%), from €176,399 to €673,413
of which Land and buildings: +€507,208
- Receivables within one year +€15,602
up €15,602 (+46.3%), from €33,699 to €49,301
- Other debts +€123,532
up €123,532 (+24.7%), from €500,000 to €623,532
- Short-term financial debts -€68,150
no longer reported in 2025 (was €68,150)
- Provisions -€45,000
no longer reported in 2025 (was €45,000)
- Current portion of long-term debt -€26,814
no longer reported in 2025 (was €26,814)
- Trade debts +€13,052
up €13,052 (+73.0%), from €17,876 to €30,928
- Depreciation +€49,714
up €49,714 (+45.9%), from €108,326 to €158,040
- Provisions -€45,000
new in 2025: -€45,000
- Gross operating margin -€16,443
down €16,443 (-1.9%), from €860,955 to €844,512
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 | €812,736 | €810,541 | -€2,195 | -0.3% |
| Fixed assets | 21/28 | €176,534 | €673,548 | +€497,014 | +281.5% |
| Tangible fixed assets | 22/27 | €176,399 | €673,413 | +€497,014 | +281.8% |
| Land and buildings | 22 | €107,951 | €615,158 | +€507,208 | +469.9% |
| Plant, machinery and equipment | 23 | €23,223 | €21,538 | -€1,685 | -7.3% |
| Furniture and vehicles | 24 | €27,225 | €36,716 | +€9,491 | +34.9% |
| Leasing and similar rights | 25 | €18,000 | - | -€18,000 | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €636,202 | €136,993 | -€499,209 | -78.5% |
| Stocks and contracts in progress | 3 | €19,934 | €25,755 | +€5,822 | +29.2% |
| Stocks | 30/36 | €19,934 | €25,755 | +€5,822 | +29.2% |
| Amounts receivable within one year | 40/41 | €33,699 | €49,301 | +€15,602 | +46.3% |
| Trade receivables | 40 | €33,699 | €49,301 | +€15,602 | +46.3% |
| Cash at bank and in hand | 54/58 | €576,670 | €54,635 | -€522,036 | -90.5% |
| Deferred charges and accrued income | 490/1 | €5,899 | €7,302 | +€1,403 | +23.8% |
| Total equity and liabilities | 10/49 | €812,736 | €810,541 | -€2,195 | -0.3% |
| Equity | 10/15 | €96,882 | €108,634 | +€11,752 | +12.1% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €56,000 | €68,000 | +€12,000 | +21.4% |
| Tax-exempt reserves | 132 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €44,000 | €56,000 | +€12,000 | +27.3% |
| Profit (loss) carried forward | 14 | €882 | €634 | -€248 | -28.1% |
| Provisions and deferred taxes | 16 | €45,000 | - | -€45,000 | |
| Provisions for liabilities and charges | 160/5 | €45,000 | - | -€45,000 | |
| Major repairs and maintenance | 162 | €45,000 | - | -€45,000 | |
| Amounts payable | 17/49 | €670,854 | €701,907 | +€31,054 | +4.6% |
| Amounts payable after more than one year | 17 | €9,000 | - | -€9,000 | |
| Financial debts | 170/4 | €9,000 | - | -€9,000 | |
| Amounts payable within one year | 42/48 | €661,854 | €701,907 | +€40,054 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €26,814 | - | -€26,814 | |
| Financial debts | 43 | €68,150 | - | -€68,150 | |
| Credit institutions | 430/8 | €68,150 | - | -€68,150 | |
| Trade debts | 44 | €17,876 | €30,928 | +€13,052 | +73.0% |
| Suppliers | 440/4 | €17,876 | €30,928 | +€13,052 | +73.0% |
| Taxes, remuneration and social security | 45 | €49,013 | €47,447 | -€1,567 | -3.2% |
| Taxes | 450/3 | €15,525 | €15,988 | +€464 | +3.0% |
| Remuneration and social security | 454/9 | €33,489 | €31,458 | -€2,030 | -6.1% |
| Other amounts payable | 47/48 | €500,000 | €623,532 | +€123,532 | +24.7% |
| Non-recurring operating income | 76A | - | €780 | +€780 | |
| Remuneration, social security and pensions | 62 | €223,673 | €220,965 | -€2,708 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,326 | €158,040 | +€49,714 | +45.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€45,000 | -€45,000 | |
| Other operating charges | 640/8 | €8,089 | €8,920 | +€831 | +10.3% |
| Gross operating margin | 9900 | €860,955 | €844,512 | -€16,443 | -1.9% |
| Operating profit (loss) | 9901 | €520,867 | €501,588 | -€19,279 | -3.7% |
| Financial income | 75/76B | €304 | €34 | -€270 | -88.8% |
| Recurring financial income | 75 | €304 | €34 | -€270 | -88.8% |
| Financial charges | 65/66B | €14,775 | €9,966 | -€4,808 | -32.5% |
| Recurring financial charges | 65 | €14,775 | €9,966 | -€4,808 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €506,396 | €491,655 | -€14,740 | -2.9% |
| Income taxes | 67/77 | €271 | -€96 | -€367 | |
| Profit (loss) for the period | 9904 | €506,125 | €491,752 | -€14,374 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €506,125 | €491,752 | -€14,374 | -2.8% |
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 12 October 2026 via checked.be.