DELIVAN: 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.
DELIVAN
Largest movements
- Cash +€875,348
up €875,348 (+296.7%), from €295,005 to €1.2m
mainly Current investments (+€513,265) and Net result for the year (+€416,803)
- Current investments -€513,265
no longer reported in 2025 (was €513,265)
- Receivables within one year -€268,865
down €268,865 (-66.9%), from €402,096 to €133,231
of which Trade receivables: -€266,395
- Tangible fixed assets -€37,008
down €37,008 (-58.4%), from €63,368 to €26,360
of which Furniture and vehicles: -€35,774
- Reserves +€410,138
up €410,138 (+59.2%), from €693,075 to €1.1m
- Trade debts -€320,630
no longer reported in 2025 (was €320,630)
- Tax, wage and social debts -€48,078
down €48,078 (-96.1%), from €50,021 to €1,943
of which Taxes: -€27,557
- Other debts +€23,868
up €23,868 (+24.9%), from €95,805 to €119,673
- Gross operating margin +€429,264
up €429,264 (+104.1%), from €412,524 to €841,788
- Taxes +€121,514
up €121,514 (+200.6%), from €60,573 to €182,087
- Financial income -€39,299
down €39,299 (-88.1%), from €44,605 to €5,306
- Staff costs +€10,027
up €10,027 (+5.3%), from €187,771 to €197,798
- Other operating charges -€9,433
down €9,433 (-38.7%), from €24,371 to €14,938
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 | €1,290,961 | €1,337,921 | +€46,960 | +3.6% |
| Fixed assets | 21/28 | €72,543 | €34,336 | -€38,207 | -52.7% |
| Intangible fixed assets | 21 | €9,040 | €7,841 | -€1,199 | -13.3% |
| Tangible fixed assets | 22/27 | €63,368 | €26,360 | -€37,008 | -58.4% |
| Land and buildings | 22 | €11,231 | €10,991 | -€240 | -2.1% |
| Plant, machinery and equipment | 23 | €1,502 | €508 | -€994 | -66.2% |
| Furniture and vehicles | 24 | €50,635 | €14,861 | -€35,774 | -70.7% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €1,218,418 | €1,303,585 | +€85,167 | +7.0% |
| Stocks and contracts in progress | 3 | €8,052 | - | -€8,052 | |
| Stocks | 30/36 | €8,052 | - | -€8,052 | |
| Amounts receivable within one year | 40/41 | €402,096 | €133,231 | -€268,865 | -66.9% |
| Trade receivables | 40 | €369,802 | €103,407 | -€266,395 | -72.0% |
| Other amounts receivable | 41 | €32,294 | €29,824 | -€2,470 | -7.6% |
| Current investments | 50/53 | €513,265 | - | -€513,265 | |
| Cash at bank and in hand | 54/58 | €295,005 | €1,170,353 | +€875,348 | +296.7% |
| Total equity and liabilities | 10/49 | €1,290,961 | €1,337,921 | +€46,960 | +3.6% |
| Equity | 10/15 | €806,167 | €1,216,305 | +€410,138 | +50.9% |
| Contributions | 10/11 | €113,092 | €113,092 | +€0 | 0.0% |
| Reserves | 13 | €693,075 | €1,103,213 | +€410,138 | +59.2% |
| Distributable reserves | 133 | €693,075 | €1,103,213 | +€410,138 | +59.2% |
| Amounts payable | 17/49 | €484,794 | €121,616 | -€363,178 | -74.9% |
| Amounts payable within one year | 42/48 | €479,723 | €121,616 | -€358,107 | -74.6% |
| Current portion of amounts payable after more than one year | 42 | €13,267 | - | -€13,267 | |
| Trade debts | 44 | €320,630 | - | -€320,630 | |
| Suppliers | 440/4 | €320,630 | - | -€320,630 | |
| Taxes, remuneration and social security | 45 | €50,021 | €1,943 | -€48,078 | -96.1% |
| Taxes | 450/3 | €28,866 | €1,309 | -€27,557 | -95.5% |
| Remuneration and social security | 454/9 | €21,155 | €634 | -€20,521 | -97.0% |
| Other amounts payable | 47/48 | €95,805 | €119,673 | +€23,868 | +24.9% |
| Accrued charges and deferred income | 492/3 | €5,071 | - | -€5,071 | |
| Non-recurring operating income | 76A | - | €383,319 | +€383,319 | |
| Remuneration, social security and pensions | 62 | €187,771 | €197,798 | +€10,027 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,508 | €20,355 | -€6,153 | -23.2% |
| Other operating charges | 640/8 | €24,371 | €14,938 | -€9,433 | -38.7% |
| Non-recurring operating charges | 66A | - | €1,235 | +€1,235 | |
| Gross operating margin | 9900 | €412,524 | €841,788 | +€429,264 | +104.1% |
| Operating profit (loss) | 9901 | €173,874 | €607,462 | +€433,588 | +249.4% |
| Financial income | 75/76B | €44,605 | €5,306 | -€39,299 | -88.1% |
| Recurring financial income | 75 | €44,605 | €5,306 | -€39,299 | -88.1% |
| Financial charges | 65/66B | €11,085 | €13,878 | +€2,793 | +25.2% |
| Recurring financial charges | 65 | €11,085 | €13,878 | +€2,793 | +25.2% |
| Profit (loss) for the period before taxes | 9903 | €207,394 | €598,890 | +€391,496 | +188.8% |
| Income taxes | 67/77 | €60,573 | €182,087 | +€121,514 | +200.6% |
| Profit (loss) for the period | 9904 | €146,821 | €416,803 | +€269,982 | +183.9% |
| Profit (loss) for the period to be appropriated | 9905 | €146,821 | €416,803 | +€269,982 | +183.9% |
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.