DELIVEST: 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
DELIVEST
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€162,531
2024 · €140,494+€22,037
Equity
€1.6m
2024 · €1.6m+€63,531
Cash
€45,208
2024 · €59,073-€13,865
Balance sheet total
€1.8m
2024 · €1.8m+€10,791
Largest movements
Assets
- Current investments +€51,320
up €51,320 (+4.1%), from €1.2m to €1.3m
Equity and liabilities
- Other debts -€64,463
down €64,463 (-36.6%), from €175,952 to €111,489
- Reserves +€63,531
up €63,531 (+11.4%), from €556,828 to €620,359
Income statement
- Financial income +€32,100
up €32,100 (+39.3%), from €81,657 to €113,757
- Taxes +€24,950
up €24,950 (+54.7%), from €45,625 to €70,575
- Financial charges -€13,989
down €13,989, from €4,336 to -€9,652
- Gross operating margin +€3,283
up €3,283 (+2.1%), from €159,285 to €162,568
- Other operating charges +€2,226
up €2,226 (+6.5%), from €34,130 to €36,356
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
€140,494
Gross operating margin
+€3,283
Depreciation
-€159
Other operating charges
-€2,226
Financial income
+€32,100
Financial charges
+€13,989
Taxes
-€24,950
Result 2025
€162,531
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
+€138,518
Investment
-€53,383
Financing
-€99,000
Cash 2024
€59,073
From operations (derived)
+€138,518
Net result for the year
+€162,531
Depreciation
+€16,515
Receivables within one year
+€14,125
Deferred charges and accrued income
-€1,913
Trade debts
+€640
Tax, wage and social debts
+€12,539
Other debts
-€64,463
Accrued charges and deferred income
-€1,456
Investment (derived)
-€53,383
Investment in fixed assets (net)
-€2,063
Current investments
-€51,320
Financing
-€99,000
Contributions, distributions and other
-€99,000
Cash 2025
€45,208
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,757,102 | €1,767,892 | +€10,791 | +0.6% |
| Fixed assets | 21/28 | €434,395 | €419,943 | -€14,452 | -3.3% |
| Tangible fixed assets | 22/27 | €434,395 | €419,943 | -€14,452 | -3.3% |
| Land and buildings | 22 | €418,443 | €408,462 | -€9,981 | -2.4% |
| Plant, machinery and equipment | 23 | €15,527 | €11,195 | -€4,332 | -27.9% |
| Furniture and vehicles | 24 | €425 | €286 | -€140 | -32.8% |
| Current assets | 29/58 | €1,322,707 | €1,347,950 | +€25,243 | +1.9% |
| Amounts receivable within one year | 40/41 | €20,974 | €6,849 | -€14,125 | -67.3% |
| Trade receivables | 40 | €18,396 | €6,849 | -€11,548 | -62.8% |
| Other amounts receivable | 41 | €2,577 | - | -€2,577 | |
| Current investments | 50/53 | €1,239,727 | €1,291,047 | +€51,320 | +4.1% |
| Cash at bank and in hand | 54/58 | €59,073 | €45,208 | -€13,865 | -23.5% |
| Deferred charges and accrued income | 490/1 | €2,933 | €4,846 | +€1,913 | +65.2% |
| Total equity and liabilities | 10/49 | €1,757,102 | €1,767,892 | +€10,791 | +0.6% |
| Equity | 10/15 | €1,566,914 | €1,630,444 | +€63,531 | +4.1% |
| Contributions | 10/11 | €1,009,418 | €1,009,418 | = | 0.0% |
| Contributions outside capital | 11 | €1,009,418 | €1,009,418 | = | 0.0% |
| Other | 1109/19 | €1,009,418 | €1,009,418 | = | 0.0% |
| Reserves | 13 | €556,828 | €620,359 | +€63,531 | +11.4% |
| Distributable reserves | 133 | €556,828 | €620,359 | +€63,531 | +11.4% |
| Profit (loss) carried forward | 14 | €668 | €668 | = | 0.0% |
| Amounts payable | 17/49 | €190,188 | €137,448 | -€52,740 | -27.7% |
| Amounts payable after more than one year | 17 | €6,250 | €6,250 | = | 0.0% |
| Other amounts payable | 178/9 | €6,250 | €6,250 | = | 0.0% |
| Amounts payable within one year | 42/48 | €180,024 | €128,741 | -€51,283 | -28.5% |
| Trade debts | 44 | €4,072 | €4,712 | +€640 | +15.7% |
| Suppliers | 440/4 | €4,072 | €4,712 | +€640 | +15.7% |
| Taxes, remuneration and social security | 45 | - | €12,539 | +€12,539 | |
| Taxes | 450/3 | - | €12,539 | +€12,539 | |
| Other amounts payable | 47/48 | €175,952 | €111,489 | -€64,463 | -36.6% |
| Accrued charges and deferred income | 492/3 | €3,914 | €2,458 | -€1,456 | -37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,356 | €16,515 | +€159 | +1.0% |
| Other operating charges | 640/8 | €34,130 | €36,356 | +€2,226 | +6.5% |
| Gross operating margin | 9900 | €159,285 | €162,568 | +€3,283 | +2.1% |
| Operating profit (loss) | 9901 | €108,799 | €109,697 | +€898 | +0.8% |
| Financial income | 75/76B | €81,657 | €113,757 | +€32,100 | +39.3% |
| Recurring financial income | 75 | €81,657 | €113,757 | +€32,100 | +39.3% |
| Financial charges | 65/66B | €4,336 | -€9,652 | -€13,989 | |
| Recurring financial charges | 65 | €4,336 | -€9,652 | -€13,989 | |
| Profit (loss) for the period before taxes | 9903 | €186,119 | €233,106 | +€46,987 | +25.2% |
| Income taxes | 67/77 | €45,625 | €70,575 | +€24,950 | +54.7% |
| Profit (loss) for the period | 9904 | €140,494 | €162,531 | +€22,037 | +15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €140,494 | €162,531 | +€22,037 | +15.7% |
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 17 October 2026 via checked.be.