Delipa: 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.
Delipa
Largest movements
- Receivables within one year +€231,134
up €231,134 (+1583.2%), from €14,600 to €245,733
of which Other amounts receivable: +€230,561
- Stocks and contracts +€22,924
up €22,924 (+14.0%), from €164,262 to €187,186
- Cash -€16,089
down €16,089 (-14.3%), from €112,845 to €96,756
mainly Receivables within one year (-€231,134) and Short-term financial debts (-€150,000)
- Financial fixed assets -€11,200
down €11,200 (-50.0%), from €22,400 to €11,200
- Debts after one year +€250,000
new in 2025: €250,000
- Short-term financial debts -€150,000
down €150,000 (-100.0%), from €150,000 to €0
of which Other loans: -€150,000
- Trade debts +€87,155
up €87,155 (+97.1%), from €89,791 to €176,945
- Tax, wage and social debts +€25,199
up €25,199 (+304.4%), from €8,278 to €33,477
of which Remuneration and social security: +€21,902
- Profit (loss) carried forward +€22,855
up €22,855, from -€22,855 to €0
- Staff costs +€49,805
up €49,805 (+21.6%), from €230,803 to €280,608
- Gross operating margin -€40,104
down €40,104 (-11.4%), from €351,902 to €311,798
- Financial charges -€8,081
down €8,081 (-67.0%), from €12,056 to €3,975
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 | €325,160 | €549,232 | +€224,072 | +68.9% |
| Fixed assets | 21/28 | €30,009 | €16,548 | -€13,461 | -44.9% |
| Tangible fixed assets | 22/27 | €7,609 | €5,348 | -€2,261 | -29.7% |
| Plant, machinery and equipment | 23 | €5,680 | €4,277 | -€1,403 | -24.7% |
| Furniture and vehicles | 24 | €1,929 | €1,071 | -€858 | -44.5% |
| Financial fixed assets | 28 | €22,400 | €11,200 | -€11,200 | -50.0% |
| Current assets | 29/58 | €295,151 | €532,684 | +€237,533 | +80.5% |
| Stocks and contracts in progress | 3 | €164,262 | €187,186 | +€22,924 | +14.0% |
| Stocks | 30/36 | €164,262 | €187,186 | +€22,924 | +14.0% |
| Amounts receivable within one year | 40/41 | €14,600 | €245,733 | +€231,134 | +1583.2% |
| Trade receivables | 40 | €0 | €572 | +€572 | |
| Other amounts receivable | 41 | €14,600 | €245,161 | +€230,561 | +1579.2% |
| Current investments | 50/53 | €700 | €700 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €112,845 | €96,756 | -€16,089 | -14.3% |
| Deferred charges and accrued income | 490/1 | €2,745 | €2,308 | -€436 | -15.9% |
| Total equity and liabilities | 10/49 | €325,160 | €549,232 | +€224,072 | +68.9% |
| Equity | 10/15 | €17,145 | €40,010 | +€22,865 | +133.4% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | - | €10 | +€10 | |
| Distributable reserves | 133 | - | €10 | +€10 | |
| Profit (loss) carried forward | 14 | -€22,855 | €0 | +€22,855 | |
| Amounts payable | 17/49 | €308,015 | €509,222 | +€201,207 | +65.3% |
| Amounts payable after more than one year | 17 | - | €250,000 | +€250,000 | |
| Financial debts | 170/4 | - | €250,000 | +€250,000 | |
| Amounts payable within one year | 42/48 | €303,890 | €250,268 | -€53,622 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €150,000 | €0 | -€150,000 | -100.0% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €150,000 | €0 | -€150,000 | -100.0% |
| Trade debts | 44 | €89,791 | €176,945 | +€87,155 | +97.1% |
| Suppliers | 440/4 | €89,791 | €176,945 | +€87,155 | +97.1% |
| Taxes, remuneration and social security | 45 | €8,278 | €33,477 | +€25,199 | +304.4% |
| Taxes | 450/3 | €144 | €3,441 | +€3,297 | +2288.6% |
| Remuneration and social security | 454/9 | €8,134 | €30,036 | +€21,902 | +269.3% |
| Other amounts payable | 47/48 | €55,821 | €39,845 | -€15,976 | -28.6% |
| Accrued charges and deferred income | 492/3 | €4,125 | €8,954 | +€4,829 | +117.1% |
| Remuneration, social security and pensions | 62 | €230,803 | €280,608 | +€49,805 | +21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,855 | €2,261 | +€405 | +21.9% |
| Other operating charges | 640/8 | €663 | €655 | -€8 | -1.2% |
| Gross operating margin | 9900 | €351,902 | €311,798 | -€40,104 | -11.4% |
| Operating profit (loss) | 9901 | €118,580 | €28,274 | -€90,306 | -76.2% |
| Financial income | 75/76B | €42 | €482 | +€440 | +1048.7% |
| Recurring financial income | 75 | €42 | €482 | +€440 | +1048.7% |
| Financial charges | 65/66B | €12,056 | €3,975 | -€8,081 | -67.0% |
| Recurring financial charges | 65 | €12,056 | €3,975 | -€8,081 | -67.0% |
| Profit (loss) for the period before taxes | 9903 | €106,566 | €24,781 | -€81,785 | -76.7% |
| Income taxes | 67/77 | €157 | €1,916 | +€1,759 | +1123.0% |
| Profit (loss) for the period | 9904 | €106,409 | €22,865 | -€83,544 | -78.5% |
| Profit (loss) for the period to be appropriated | 9905 | €106,409 | €22,865 | -€83,544 | -78.5% |
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 11 October 2026 via checked.be.