DELIMAX: 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.
DELIMAX
Largest movements
- Current investments +€275,000
new in 2025: €275,000
- Receivables within one year -€241,297
down €241,297 (-14.1%), from €1.7m to €1.5m
of which Trade receivables: -€212,082
- Cash -€82,526
down €82,526 (-45.2%), from €182,432 to €99,907
mainly Current investments (-€275,000) and Trade debts (-€213,205)
- Stocks and contracts -€32,522
no longer reported in 2025 (was €32,522)
- Trade debts -€213,205
down €213,205 (-94.6%), from €225,363 to €12,158
- Profit (loss) carried forward +€157,949
up €157,949 (+20.2%), from €781,616 to €939,565
- Other debts +€31,000
up €31,000 (+3.8%), from €825,579 to €856,579
- Current portion of long-term debt -€27,205
down €27,205 (-66.3%), from €41,017 to €13,811
- Gross operating margin +€122,091
up €122,091 (+126%), from €96,758 to €218,850
- Taxes +€32,076
up €32,076 (+155%), from €20,656 to €52,732
- Financial charges -€3,110
down €3,110 (-51.8%), from €6,000 to €2,889
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.
Derived cash bridge
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 | €1,936,424 | €1,851,813 | -€84,611 | -4.4% |
| Fixed assets | 21/28 | €8,053 | €5,056 | -€2,997 | -37.2% |
| Intangible fixed assets | 21 | €7,380 | €5,056 | -€2,324 | -31.5% |
| Tangible fixed assets | 22/27 | €673 | - | -€673 | |
| Furniture and vehicles | 24 | €673 | - | -€673 | |
| Current assets | 29/58 | €1,928,371 | €1,846,757 | -€81,614 | -4.2% |
| Stocks and contracts in progress | 3 | €32,522 | - | -€32,522 | |
| Stocks | 30/36 | €32,522 | - | -€32,522 | |
| Amounts receivable within one year | 40/41 | €1,712,318 | €1,471,021 | -€241,297 | -14.1% |
| Trade receivables | 40 | €1,630,251 | €1,418,169 | -€212,082 | -13.0% |
| Other amounts receivable | 41 | €82,067 | €52,852 | -€29,215 | -35.6% |
| Current investments | 50/53 | - | €275,000 | +€275,000 | |
| Cash at bank and in hand | 54/58 | €182,432 | €99,907 | -€82,526 | -45.2% |
| Deferred charges and accrued income | 490/1 | €1,099 | €829 | -€270 | -24.6% |
| Total equity and liabilities | 10/49 | €1,936,424 | €1,851,813 | -€84,611 | -4.4% |
| Equity | 10/15 | €811,316 | €969,265 | +€157,949 | +19.5% |
| Contributions | 10/11 | €27,000 | €27,000 | = | 0.0% |
| Reserves | 13 | €2,700 | €2,700 | = | 0.0% |
| Distributable reserves | 133 | €2,700 | €2,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €781,616 | €939,565 | +€157,949 | +20.2% |
| Amounts payable | 17/49 | €1,125,109 | €882,548 | -€242,561 | -21.6% |
| Amounts payable after more than one year | 17 | €13,811 | - | -€13,811 | |
| Financial debts | 170/4 | €13,811 | - | -€13,811 | |
| Amounts payable within one year | 42/48 | €1,111,297 | €882,548 | -€228,749 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €41,017 | €13,811 | -€27,205 | -66.3% |
| Financial debts | 43 | €10,000 | - | -€10,000 | |
| Other loans | 439 | €10,000 | - | -€10,000 | |
| Trade debts | 44 | €225,363 | €12,158 | -€213,205 | -94.6% |
| Suppliers | 440/4 | €225,363 | €12,158 | -€213,205 | -94.6% |
| Taxes, remuneration and social security | 45 | €9,339 | - | -€9,339 | |
| Taxes | 450/3 | €9,339 | - | -€9,339 | |
| Other amounts payable | 47/48 | €825,579 | €856,579 | +€31,000 | +3.8% |
| Remuneration, social security and pensions | 62 | €491 | €36 | -€455 | -92.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,166 | €4,607 | -€1,559 | -25.3% |
| Other operating charges | 640/8 | €3,086 | €1,822 | -€1,263 | -40.9% |
| Gross operating margin | 9900 | €96,758 | €218,850 | +€122,091 | +126% |
| Operating profit (loss) | 9901 | €87,016 | €212,385 | +€125,369 | +144% |
| Financial income | 75/76B | €303 | €1,185 | +€883 | +292% |
| Recurring financial income | 75 | €303 | €1,185 | +€883 | +292% |
| Financial charges | 65/66B | €6,000 | €2,889 | -€3,110 | -51.8% |
| Recurring financial charges | 65 | €6,000 | €2,889 | -€3,110 | -51.8% |
| Profit (loss) for the period before taxes | 9903 | €81,319 | €210,681 | +€129,362 | +159% |
| Income taxes | 67/77 | €20,656 | €52,732 | +€32,076 | +155% |
| Profit (loss) for the period | 9904 | €60,663 | €157,949 | +€97,286 | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €60,663 | €157,949 | +€97,286 | +160% |
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 13 October 2026 via checked.be.