DELIVER-IT express: 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.
DELIVER-IT express
Largest movements
- Tangible fixed assets +€345,448
up €345,448 (+462.9%), from €74,627 to €420,075
of which Other tangible fixed assets: +€352,093
- Receivables within one year -€333,070
down €333,070 (-19.0%), from €1.8m to €1.4m
of which Trade receivables: -€344,996
- Cash -€177,954
down €177,954 (-58.2%), from €305,952 to €127,998
mainly Investment in fixed assets (net) (-€388,266) and Current investments (-€154,760)
- Current investments +€154,760
up €154,760, from €0 to €154,760
- Deferred charges and accrued income +€39,705
up €39,705 (+78.2%), from €50,743 to €90,448
- Debts after one year +€121,669
up €121,669 (+114.6%), from €106,170 to €227,839
- Reserves -€109,027
down €109,027 (-35.9%), from €303,285 to €194,258
of which Distributable reserves: -€109,027
- Short-term financial debts -€80,002
down €80,002 (-31.2%), from €256,707 to €176,705
of which Credit institutions: -€236,918
- Trade debts +€50,726
up €50,726 (+4.1%), from €1.2m to €1.3m
- Tax, wage and social debts +€25,204
up €25,204 (+24.9%), from €101,076 to €126,280
of which Remuneration and social security: +€44,507
- Staff costs +€489,345
up €489,345 (+61.8%), from €792,000 to €1.3m
- Gross operating margin +€250,653
up €250,653 (+23.1%), from €1.1m to €1.3m
- Financial charges +€84,094
up €84,094 (+312.8%), from €26,886 to €110,981
- Financial income +€67,606
up €67,606, from €0 to €67,606
- Taxes -€56,991
down €56,991 (-97.0%), from €58,779 to €1,788
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 | €2,249,943 | €2,261,487 | +€11,543 | +0.5% |
| Fixed assets | 21/28 | €141,142 | €469,244 | +€328,102 | +232.5% |
| Intangible fixed assets | 21 | €65,365 | €47,019 | -€18,345 | -28.1% |
| Tangible fixed assets | 22/27 | €74,627 | €420,075 | +€345,448 | +462.9% |
| Plant, machinery and equipment | 23 | €13,689 | €9,512 | -€4,177 | -30.5% |
| Furniture and vehicles | 24 | €60,938 | €58,469 | -€2,469 | -4.1% |
| Other tangible fixed assets | 26 | - | €352,093 | +€352,093 | |
| Financial fixed assets | 28 | €1,150 | €2,150 | +€1,000 | +87.0% |
| Current assets | 29/58 | €2,108,802 | €1,792,243 | -€316,559 | -15.0% |
| Amounts receivable within one year | 40/41 | €1,752,107 | €1,419,036 | -€333,070 | -19.0% |
| Trade receivables | 40 | €1,658,073 | €1,313,078 | -€344,996 | -20.8% |
| Other amounts receivable | 41 | €94,033 | €105,959 | +€11,925 | +12.7% |
| Current investments | 50/53 | €0 | €154,760 | +€154,760 | |
| Cash at bank and in hand | 54/58 | €305,952 | €127,998 | -€177,954 | -58.2% |
| Deferred charges and accrued income | 490/1 | €50,743 | €90,448 | +€39,705 | +78.2% |
| Total equity and liabilities | 10/49 | €2,249,943 | €2,261,487 | +€11,543 | +0.5% |
| Equity | 10/15 | €321,835 | €212,808 | -€109,027 | -33.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €303,285 | €194,258 | -€109,027 | -35.9% |
| Non-distributable reserves | 130/1 | €465 | €465 | = | 0.0% |
| Reserves not available under the articles | 1311 | €465 | €465 | = | 0.0% |
| Distributable reserves | 133 | €302,821 | €193,793 | -€109,027 | -36.0% |
| Amounts payable | 17/49 | €1,928,108 | €2,048,679 | +€120,571 | +6.3% |
| Amounts payable after more than one year | 17 | €106,170 | €227,839 | +€121,669 | +114.6% |
| Financial debts | 170/4 | €106,170 | €227,839 | +€121,669 | +114.6% |
| Amounts payable within one year | 42/48 | €1,821,939 | €1,820,840 | -€1,098 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €97,583 | €101,642 | +€4,059 | +4.2% |
| Financial debts | 43 | €256,707 | €176,705 | -€80,002 | -31.2% |
| Credit institutions | 430/8 | €256,707 | €19,789 | -€236,918 | -92.3% |
| Other loans | 439 | - | €156,916 | +€156,916 | |
| Trade debts | 44 | €1,244,873 | €1,295,599 | +€50,726 | +4.1% |
| Suppliers | 440/4 | €1,244,873 | €1,295,599 | +€50,726 | +4.1% |
| Taxes, remuneration and social security | 45 | €101,076 | €126,280 | +€25,204 | +24.9% |
| Taxes | 450/3 | €19,303 | €0 | -€19,303 | -100.0% |
| Remuneration and social security | 454/9 | €81,773 | €126,280 | +€44,507 | +54.4% |
| Other amounts payable | 47/48 | €121,700 | €120,615 | -€1,085 | -0.9% |
| Remuneration, social security and pensions | 62 | €792,000 | €1,281,346 | +€489,345 | +61.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,790 | €60,164 | +€21,374 | +55.1% |
| Other operating charges | 640/8 | €5,131 | €51,370 | +€46,239 | +901.1% |
| Non-recurring operating charges | 66A | - | €7,501 | +€7,501 | |
| Gross operating margin | 9900 | €1,085,862 | €1,336,515 | +€250,653 | +23.1% |
| Operating profit (loss) | 9901 | €249,940 | -€63,866 | -€313,806 | |
| Financial income | 75/76B | €0 | €67,606 | +€67,606 | |
| Recurring financial income | 75 | €0 | €67,606 | +€67,606 | |
| Financial charges | 65/66B | €26,886 | €110,981 | +€84,094 | +312.8% |
| Recurring financial charges | 65 | €26,886 | €110,981 | +€84,094 | +312.8% |
| Profit (loss) for the period before taxes | 9903 | €223,054 | -€107,240 | -€330,294 | |
| Income taxes | 67/77 | €58,779 | €1,788 | -€56,991 | -97.0% |
| Profit (loss) for the period | 9904 | €164,275 | -€109,027 | -€273,302 | |
| Profit (loss) for the period to be appropriated | 9905 | €164,275 | -€109,027 | -€273,302 |
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 12 October 2026 via checked.be.