DELKO: 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.
DELKO
Largest movements
- Receivables within one year -€38,055
down €38,055 (-22.8%), from €166,799 to €128,744
of which Trade receivables: -€22,848
- Tangible fixed assets -€26,913
down €26,913 (-6.6%), from €410,562 to €383,649
of which Land and buildings: -€23,944
- Stocks and contracts -€7,858
down €7,858 (-7.6%), from €103,114 to €95,257
- Reserves -€43,772
down €43,772 (-46.2%), from €94,845 to €51,073
of which Distributable reserves: -€43,772
- Debts after one year -€25,506
down €25,506 (-6.7%), from €383,423 to €357,917
- Trade debts -€13,794
down €13,794 (-16.1%), from €85,523 to €71,729
- Write-downs +€16,227
new in 2025: €16,227
- Other operating charges -€4,742
down €4,742 (-90.2%), from €5,259 to €517
- Gross operating margin +€4,696
up €4,696 (+27.5%), from €17,099 to €21,794
- Financial charges -€2,318
down €2,318 (-18.6%), from €12,435 to €10,117
- Depreciation +€1,563
up €1,563 (+4.2%), from €37,188 to €38,751
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 | €697,336 | €620,944 | -€76,392 | -11.0% |
| Fixed assets | 21/28 | €412,062 | €385,149 | -€26,913 | -6.5% |
| Tangible fixed assets | 22/27 | €410,562 | €383,649 | -€26,913 | -6.6% |
| Land and buildings | 22 | €362,887 | €338,943 | -€23,944 | -6.6% |
| Plant, machinery and equipment | 23 | €37,061 | €27,972 | -€9,089 | -24.5% |
| Furniture and vehicles | 24 | €10,614 | €16,734 | +€6,120 | +57.7% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €285,274 | €235,795 | -€49,479 | -17.3% |
| Stocks and contracts in progress | 3 | €103,114 | €95,257 | -€7,858 | -7.6% |
| Stocks | 30/36 | €103,114 | €95,257 | -€7,858 | -7.6% |
| Amounts receivable within one year | 40/41 | €166,799 | €128,744 | -€38,055 | -22.8% |
| Trade receivables | 40 | €123,666 | €100,818 | -€22,848 | -18.5% |
| Other amounts receivable | 41 | €43,133 | €27,926 | -€15,208 | -35.3% |
| Cash at bank and in hand | 54/58 | €15,004 | €11,277 | -€3,727 | -24.8% |
| Deferred charges and accrued income | 490/1 | €356 | €518 | +€162 | +45.4% |
| Total equity and liabilities | 10/49 | €697,336 | €620,944 | -€76,392 | -11.0% |
| Equity | 10/15 | €107,245 | €63,473 | -€43,772 | -40.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €94,845 | €51,073 | -€43,772 | -46.2% |
| Non-distributable reserves | 130/1 | €956 | €956 | = | 0.0% |
| Reserves not available under the articles | 1311 | €956 | €956 | = | 0.0% |
| Distributable reserves | 133 | €93,889 | €50,117 | -€43,772 | -46.6% |
| Amounts payable | 17/49 | €590,091 | €557,471 | -€32,620 | -5.5% |
| Amounts payable after more than one year | 17 | €383,423 | €357,917 | -€25,506 | -6.7% |
| Financial debts | 170/4 | €383,423 | €357,917 | -€25,506 | -6.7% |
| Amounts payable within one year | 42/48 | €206,669 | €199,554 | -€7,115 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €24,390 | €24,982 | +€592 | +2.4% |
| Trade debts | 44 | €85,523 | €71,729 | -€13,794 | -16.1% |
| Suppliers | 440/4 | €85,523 | €71,729 | -€13,794 | -16.1% |
| Taxes, remuneration and social security | 45 | €20 | - | -€20 | |
| Taxes | 450/3 | €20 | - | -€20 | |
| Other amounts payable | 47/48 | €96,737 | €102,844 | +€6,107 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,188 | €38,751 | +€1,563 | +4.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €16,227 | +€16,227 | |
| Other operating charges | 640/8 | €5,259 | €517 | -€4,742 | -90.2% |
| Gross operating margin | 9900 | €17,099 | €21,794 | +€4,696 | +27.5% |
| Operating profit (loss) | 9901 | -€25,349 | -€33,700 | -€8,352 | -32.9% |
| Financial income | 75/76B | €854 | €46 | -€808 | -94.6% |
| Recurring financial income | 75 | €854 | €46 | -€808 | -94.6% |
| Financial charges | 65/66B | €12,435 | €10,117 | -€2,318 | -18.6% |
| Recurring financial charges | 65 | €12,435 | €10,117 | -€2,318 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | -€36,930 | -€43,772 | -€6,842 | -18.5% |
| Income taxes | 67/77 | €465 | - | -€465 | |
| Profit (loss) for the period | 9904 | -€37,395 | -€43,772 | -€6,377 | -17.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,395 | -€43,772 | -€6,377 | -17.1% |
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 9 October 2026 via checked.be.