DELISOL: what changed
Two fiscal 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.
DELISOL
Largest movements
- Current investments +€364,366
up €364,366 (+72.7%), from €501,197 to €865,562
- Receivables after one year -€165,464
down €165,464 (-12.4%), from €1.3m to €1.2m
- Cash +€125,188
up €125,188 (+121.6%), from €102,979 to €228,167
mainly Other debts (+€2.0m) and Net result for the year (+€281,415)
- Stocks and contracts +€34,823
up €34,823 (+38.7%), from €89,895 to €124,718
- Other debts +€2.0m
up €2.0m (+17538.9%), from €11,339 to €2.0m
- Reserves -€1.7m
down €1.7m (-67.9%), from €2.5m to €811,677
of which Distributable reserves: -€1.7m
- Trade debts +€105,219
up €105,219 (+23.7%), from €444,847 to €550,066
- Gross operating margin -€87,362
down €87,362 (-20.2%), from €432,509 to €345,147
- Taxes -€18,354
down €18,354 (-16.1%), from €114,348 to €95,995
- Financial charges +€7,181
up €7,181, from -€3,931 to €3,250
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 | €3,049,574 | €3,411,112 | +€361,538 | +11.9% |
| Fixed assets | 21/28 | €28,659 | €15,439 | -€13,221 | -46.1% |
| Tangible fixed assets | 22/27 | €25,959 | €12,739 | -€13,221 | -50.9% |
| Plant, machinery and equipment | 23 | - | €1,223 | +€1,223 | |
| Furniture and vehicles | 24 | €8,480 | €8,480 | = | 0.0% |
| Other tangible fixed assets | 26 | €17,479 | €3,035 | -€14,444 | -82.6% |
| Financial fixed assets | 28 | €2,700 | €2,700 | = | 0.0% |
| Current assets | 29/58 | €3,020,915 | €3,395,674 | +€374,758 | +12.4% |
| Amounts receivable after more than one year | 29 | €1,334,613 | €1,169,149 | -€165,464 | -12.4% |
| Other amounts receivable | 291 | €1,334,613 | €1,169,149 | -€165,464 | -12.4% |
| Stocks and contracts in progress | 3 | €89,895 | €124,718 | +€34,823 | +38.7% |
| Stocks | 30/36 | €89,895 | €124,718 | +€34,823 | +38.7% |
| Amounts receivable within one year | 40/41 | €986,945 | €997,639 | +€10,694 | +1.1% |
| Trade receivables | 40 | €969,259 | €976,171 | +€6,912 | +0.7% |
| Other amounts receivable | 41 | €17,686 | €21,468 | +€3,782 | +21.4% |
| Current investments | 50/53 | €501,197 | €865,562 | +€364,366 | +72.7% |
| Cash at bank and in hand | 54/58 | €102,979 | €228,167 | +€125,188 | +121.6% |
| Deferred charges and accrued income | 490/1 | €5,286 | €10,438 | +€5,152 | +97.5% |
| Total equity and liabilities | 10/49 | €3,049,574 | €3,411,112 | +€361,538 | +11.9% |
| Equity | 10/15 | €2,548,861 | €830,277 | -€1.7m | -67.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,530,261 | €811,677 | -€1.7m | -67.9% |
| Tax-exempt reserves | 132 | €147,350 | €147,350 | = | 0.0% |
| Distributable reserves | 133 | €2,382,911 | €664,327 | -€1.7m | -72.1% |
| Amounts payable | 17/49 | €500,713 | €2,580,835 | +€2.1m | +415.4% |
| Amounts payable within one year | 42/48 | €499,805 | €2,580,052 | +€2.1m | +416.2% |
| Trade debts | 44 | €444,847 | €550,066 | +€105,219 | +23.7% |
| Suppliers | 440/4 | €444,847 | €550,066 | +€105,219 | +23.7% |
| Taxes, remuneration and social security | 45 | €43,619 | €29,986 | -€13,633 | -31.3% |
| Taxes | 450/3 | €43,619 | €29,986 | -€13,633 | -31.3% |
| Other amounts payable | 47/48 | €11,339 | €2,000,000 | +€2.0m | +17538.9% |
| Accrued charges and deferred income | 492/3 | €908 | €783 | -€125 | -13.8% |
| Non-recurring operating income | 76A | €11,390 | - | -€11,390 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,093 | €14,716 | -€377 | -2.5% |
| Other operating charges | 640/8 | €3,222 | €3,257 | +€35 | +1.1% |
| Non-recurring operating charges | 66A | €9,364 | - | -€9,364 | |
| Gross operating margin | 9900 | €432,509 | €345,147 | -€87,362 | -20.2% |
| Operating profit (loss) | 9901 | €404,831 | €327,174 | -€77,657 | -19.2% |
| Financial income | 75/76B | €51,911 | €53,486 | +€1,575 | +3.0% |
| Recurring financial income | 75 | €51,911 | €53,486 | +€1,575 | +3.0% |
| Financial charges | 65/66B | -€3,931 | €3,250 | +€7,181 | |
| Recurring financial charges | 65 | -€3,931 | €3,250 | +€7,181 | |
| Profit (loss) for the period before taxes | 9903 | €460,673 | €377,410 | -€83,263 | -18.1% |
| Income taxes | 67/77 | €114,348 | €95,995 | -€18,354 | -16.1% |
| Profit (loss) for the period | 9904 | €346,325 | €281,415 | -€64,909 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €346,325 | €281,415 | -€64,909 | -18.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.