DELIN: 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.
DELIN
Largest movements
- Tangible fixed assets +€140,591
up €140,591 (+42.6%), from €330,132 to €470,723
of which Other tangible fixed assets: +€120,246
- Receivables within one year -€44,519
down €44,519 (-45.8%), from €97,151 to €52,632
of which Other amounts receivable: -€44,815
- Stocks and contracts -€8,194
down €8,194 (-41.5%), from €19,740 to €11,547
- Cash +€8,184
up €8,184 (+24.4%), from €33,554 to €41,738
mainly Debts after one year (+€127,066) and Depreciation (+€51,331)
- Deferred charges and accrued income +€7,872
new in 2025: €7,872
- Debts after one year +€127,066
up €127,066 (+333%), from €38,109 to €165,175
- Other debts -€55,216
down €55,216 (-22.3%), from €247,205 to €191,990
- Profit (loss) carried forward +€16,812
up €16,812 (+20.2%), from €83,318 to €100,130
- Current portion of long-term debt +€16,811
up €16,811 (+141%), from €11,959 to €28,770
- Trade debts -€10,041
down €10,041 (-12.9%), from €78,024 to €67,983
- Gross operating margin +€46,394
up €46,394 (+55.6%), from €83,488 to €129,883
- Depreciation +€16,619
up €16,619 (+47.9%), from €34,712 to €51,331
- Financial charges +€8,806
up €8,806 (+178%), from €4,943 to €13,749
- Other operating charges +€4,527
up €4,527 (+807%), from €561 to €5,088
- Financial income +€1,679
up €1,679 (+805%), from €209 to €1,888
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 | €480,578 | €584,512 | +€103,935 | +21.6% |
| Fixed assets | 21/28 | €330,132 | €470,723 | +€140,591 | +42.6% |
| Tangible fixed assets | 22/27 | €330,132 | €470,723 | +€140,591 | +42.6% |
| Land and buildings | 22 | €241,830 | €227,402 | -€14,428 | -6.0% |
| Plant, machinery and equipment | 23 | €76,393 | €101,923 | +€25,530 | +33.4% |
| Furniture and vehicles | 24 | €639 | €9,883 | +€9,244 | +1,446% |
| Other tangible fixed assets | 26 | €11,269 | €131,515 | +€120,246 | +1,067% |
| Current assets | 29/58 | €150,446 | €113,789 | -€36,657 | -24.4% |
| Stocks and contracts in progress | 3 | €19,740 | €11,547 | -€8,194 | -41.5% |
| Stocks | 30/36 | €19,740 | €11,547 | -€8,194 | -41.5% |
| Amounts receivable within one year | 40/41 | €97,151 | €52,632 | -€44,519 | -45.8% |
| Trade receivables | 40 | €50 | €346 | +€296 | +592% |
| Other amounts receivable | 41 | €97,101 | €52,286 | -€44,815 | -46.2% |
| Cash at bank and in hand | 54/58 | €33,554 | €41,738 | +€8,184 | +24.4% |
| Deferred charges and accrued income | 490/1 | - | €7,872 | +€7,872 | |
| Total equity and liabilities | 10/49 | €480,578 | €584,512 | +€103,935 | +21.6% |
| Equity | 10/15 | €103,778 | €120,590 | +€16,812 | +16.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,318 | €100,130 | +€16,812 | +20.2% |
| Amounts payable | 17/49 | €376,800 | €463,923 | +€87,122 | +23.1% |
| Amounts payable after more than one year | 17 | €38,109 | €165,175 | +€127,066 | +333% |
| Financial debts | 170/4 | €38,109 | €165,175 | +€127,066 | +333% |
| Amounts payable within one year | 42/48 | €338,692 | €294,782 | -€43,910 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €11,959 | €28,770 | +€16,811 | +141% |
| Trade debts | 44 | €78,024 | €67,983 | -€10,041 | -12.9% |
| Suppliers | 440/4 | €78,024 | €67,983 | -€10,041 | -12.9% |
| Taxes, remuneration and social security | 45 | €1,503 | €6,039 | +€4,536 | +302% |
| Taxes | 450/3 | €1,503 | €727 | -€776 | -51.6% |
| Remuneration and social security | 454/9 | - | €5,312 | +€5,312 | |
| Other amounts payable | 47/48 | €247,205 | €191,990 | -€55,216 | -22.3% |
| Accrued charges and deferred income | 492/3 | - | €3,966 | +€3,966 | |
| Non-recurring operating income | 76A | €176 | €20,250 | +€20,074 | +11,380% |
| Remuneration, social security and pensions | 62 | €20,873 | €19,791 | -€1,082 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,712 | €51,331 | +€16,619 | +47.9% |
| Other operating charges | 640/8 | €561 | €5,088 | +€4,527 | +807% |
| Non-recurring operating charges | 66A | €949 | - | -€949 | |
| Gross operating margin | 9900 | €83,488 | €129,883 | +€46,394 | +55.6% |
| Operating profit (loss) | 9901 | €26,393 | €53,673 | +€27,279 | +103% |
| Financial income | 75/76B | €209 | €1,888 | +€1,679 | +805% |
| Recurring financial income | 75 | €209 | €1,888 | +€1,679 | +805% |
| Financial charges | 65/66B | €4,943 | €13,749 | +€8,806 | +178% |
| Recurring financial charges | 65 | €4,943 | €13,749 | +€8,806 | +178% |
| Profit (loss) for the period before taxes | 9903 | €21,659 | €41,812 | +€20,153 | +93.0% |
| Profit (loss) for the period | 9904 | €21,659 | €41,812 | +€20,153 | +93.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,659 | €41,812 | +€20,153 | +93.0% |
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 17 October 2026 via checked.be.