DELISAN: 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.
What changed
DELISAN
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€129,060
2024 · €66,308+€62,752
Equity
€1.7m
2024 · €1.8m-€100,940
Cash
€411,371
2024 · €258,436+€152,935
Balance sheet total
€3.2m
2024 · €3.2m+€48,746
Largest movements
Assets
- Cash +€152,935
up €152,935 (+59.2%), from €258,436 to €411,371
mainly Other debts (+€187,083) and Depreciation (+€165,320)
- Tangible fixed assets -€131,304
down €131,304 (-4.6%), from €2.9m to €2.7m
of which Land and buildings: -€131,087
Equity and liabilities
- Other debts +€187,083
up €187,083 (+68.1%), from €274,660 to €461,742
- Reserves -€101,487
down €101,487 (-9.0%), from €1.1m to €1.0m
of which Distributable reserves: -€83,000
Income statement
- Depreciation -€45,137
down €45,137 (-21.4%), from €210,458 to €165,320
- Taxes +€28,984
up €28,984 (+84.8%), from €34,192 to €63,176
- Gross operating margin +€23,493
up €23,493 (+5.7%), from €415,190 to €438,683
- Financial charges -€11,906
down €11,906 (-20.8%), from €57,361 to €45,456
- Other operating charges -€11,776
down €11,776 (-22.9%), from €51,513 to €39,737
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.
Result 2024
€66,308
Gross operating margin
+€23,493
Depreciation
+€45,137
Write-downs
-€564
Other operating charges
+€11,776
Financial income
-€12
Financial charges
+€11,906
Taxes
-€28,984
Result 2025
€129,060
raises the resultlowers the result
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.
From operations
+€426,588
Investment
-€34,017
Financing
-€239,636
Cash 2024
€258,436
From operations (derived)
+€426,588
Net result for the year
+€129,060
Depreciation
+€165,320
Receivables within one year
-€27,762
Deferred charges and accrued income
+€648
Provisions
-€14,859
Trade debts
+€2,610
Tax, wage and social debts
-€6,684
Other debts
+€187,083
Accrued charges and deferred income
-€8,829
Investment (derived)
-€34,017
Investment in fixed assets (net)
-€34,017
Financing
-€239,636
Debts after one year
-€11,712
Current portion of long-term debt
+€2,077
Contributions, distributions and other
-€230,000
Cash 2025
€411,371
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,172,346 | €3,221,091 | +€48,746 | +1.5% |
| Fixed assets | 21/28 | €2,880,307 | €2,749,004 | -€131,304 | -4.6% |
| Tangible fixed assets | 22/27 | €2,877,759 | €2,746,456 | -€131,304 | -4.6% |
| Land and buildings | 22 | €2,877,543 | €2,746,456 | -€131,087 | -4.6% |
| Furniture and vehicles | 24 | €217 | - | -€217 | |
| Financial fixed assets | 28 | €2,548 | €2,548 | = | 0.0% |
| Current assets | 29/58 | €292,038 | €472,088 | +€180,049 | +61.7% |
| Amounts receivable within one year | 40/41 | €28,392 | €56,154 | +€27,762 | +97.8% |
| Trade receivables | 40 | €2,799 | €40,180 | +€37,380 | +1,335% |
| Other amounts receivable | 41 | €25,592 | €15,974 | -€9,618 | -37.6% |
| Cash at bank and in hand | 54/58 | €258,436 | €411,371 | +€152,935 | +59.2% |
| Deferred charges and accrued income | 490/1 | €5,211 | €4,563 | -€648 | -12.4% |
| Total equity and liabilities | 10/49 | €3,172,346 | €3,221,091 | +€48,746 | +1.5% |
| Equity | 10/15 | €1,829,406 | €1,728,466 | -€100,940 | -5.5% |
| Contributions | 10/11 | €425,137 | €425,137 | = | 0.0% |
| Capital | 10 | €425,137 | €425,137 | = | 0.0% |
| Issued capital | 100 | €425,137 | €425,137 | = | 0.0% |
| Reserves | 13 | €1,127,308 | €1,025,821 | -€101,487 | -9.0% |
| Non-distributable reserves | 130/1 | €42,514 | €42,514 | = | 0.0% |
| Legal reserve | 130 | €42,514 | €42,514 | = | 0.0% |
| Tax-exempt reserves | 132 | €437,294 | €418,807 | -€18,487 | -4.2% |
| Distributable reserves | 133 | €647,500 | €564,500 | -€83,000 | -12.8% |
| Profit (loss) carried forward | 14 | €276,961 | €277,508 | +€547 | +0.2% |
| Provisions and deferred taxes | 16 | €455,139 | €440,281 | -€14,859 | -3.3% |
| Provisions for liabilities and charges | 160/5 | €281,180 | €270,943 | -€10,237 | -3.6% |
| Other liabilities and charges | 164/5 | €281,180 | €270,943 | -€10,237 | -3.6% |
| Deferred taxes | 168 | €173,959 | €169,337 | -€4,622 | -2.7% |
| Amounts payable | 17/49 | €887,800 | €1,052,344 | +€164,544 | +18.5% |
| Amounts payable after more than one year | 17 | €511,303 | €499,590 | -€11,712 | -2.3% |
| Financial debts | 170/4 | €454,567 | €432,400 | -€22,166 | -4.9% |
| Other amounts payable | 178/9 | €56,736 | €67,190 | +€10,454 | +18.4% |
| Amounts payable within one year | 42/48 | €365,211 | €550,297 | +€185,086 | +50.7% |
| Current portion of amounts payable after more than one year | 42 | €50,388 | €52,464 | +€2,077 | +4.1% |
| Trade debts | 44 | €4,671 | €7,282 | +€2,610 | +55.9% |
| Suppliers | 440/4 | €4,671 | €7,282 | +€2,610 | +55.9% |
| Taxes, remuneration and social security | 45 | €35,492 | €28,808 | -€6,684 | -18.8% |
| Taxes | 450/3 | €35,492 | €28,808 | -€6,684 | -18.8% |
| Other amounts payable | 47/48 | €274,660 | €461,742 | +€187,083 | +68.1% |
| Accrued charges and deferred income | 492/3 | €11,286 | €2,457 | -€8,829 | -78.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €210,458 | €165,320 | -€45,137 | -21.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €564 | +€564 | |
| Other operating charges | 640/8 | €51,513 | €39,737 | -€11,776 | -22.9% |
| Gross operating margin | 9900 | €415,190 | €438,683 | +€23,493 | +5.7% |
| Operating profit (loss) | 9901 | €153,219 | €233,062 | +€79,843 | +52.1% |
| Financial income | 75/76B | €20 | €8 | -€12 | -60.9% |
| Recurring financial income | 75 | €20 | €8 | -€12 | -60.9% |
| Financial charges | 65/66B | €57,361 | €45,456 | -€11,906 | -20.8% |
| Recurring financial charges | 65 | €57,361 | €45,456 | -€11,906 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €95,878 | €187,614 | +€91,736 | +95.7% |
| Transfer from deferred taxes | 780 | €4,622 | €4,622 | = | 0.0% |
| Income taxes | 67/77 | €34,192 | €63,176 | +€28,984 | +84.8% |
| Profit (loss) for the period | 9904 | €66,308 | €129,060 | +€62,752 | +94.6% |
| Transfer from tax-exempt reserves | 789 | €18,487 | €18,487 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €84,795 | €147,547 | +€62,752 | +74.0% |
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 22 October 2026 via checked.be.