DELL: 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
DELL
NACE 46.500, Wholesale of information and communication equipment
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€6.4m
2024 · €4.6m+€1.8m
Equity
€24.0m
2024 · €28.0m-€4.0m
Cash
€914,915
2024 · €1.1m-€232,701
Balance sheet total
€246.2m
2024 · €269.5m-€23.3m
Largest movements
Assets
- Receivables after one year -€85.0m
down €85.0m (-72.6%), from €117.0m to €32.0m
- Receivables within one year +€77.7m
up €77.7m (+115.0%), from €67.5m to €145.2m
of which Other amounts receivable: +€89.6m
- Deferred charges and accrued income -€14.2m
down €14.2m (-18.8%), from €75.7m to €61.5m
Equity and liabilities
- Accrued charges and deferred income -€17.5m
down €17.5m (-9.7%), from €181.3m to €163.8m
- Trade debts -€7.2m
down €7.2m (-16.5%), from €43.5m to €36.3m
- Other debts +€6.1m
new in 2025: €6.1m
- Profit (loss) carried forward -€4.3m
no longer reported in 2025 (was €4.3m)
Income statement
- Turnover -€34.5m
down €34.5m (-8.9%), from €387.8m to €353.3m
- Goods and materials -€30.6m
down €30.6m (-9.1%), from €337.7m to €307.1m
of which Purchases: -€32.7m
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
€4.6m
Turnover
-€34.5m
Other operating income
+€1.2m
Goods and materials
+€30.6m
Services and other goods
+€68,382
Staff costs
+€1.4m
Depreciation
+€2.1m
Write-downs
+€242,599
Other operating charges
-€21,853
Financial income
+€483,937
Financial charges
+€432,676
Taxes
+€28,462
Result 2025
€6.4m
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.
From operations
+€12.3m
Investment
-€2.1m
Financing
-€10.4m
Cash 2024
€1.1m
From operations (derived)
+€12.3m
Net result for the year
+€6.4m
Depreciation
+€2.9m
Receivables after one year
+€85.0m
Stocks and contracts
+€722,954
Receivables within one year
-€77.7m
Deferred charges and accrued income
+€14.2m
Trade debts
-€7.2m
Tax, wage and social debts
-€625,053
Other debts
+€6.1m
Accrued charges and deferred income
-€17.5m
Investment (derived)
-€2.1m
Investment in fixed assets (net)
-€2.1m
Financing
-€10.4m
Contributions, distributions and other
-€10.4m
Cash 2025
€914,915
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €269,492,129 | €246,238,454 | -€23.3m | -8.6% |
| Fixed assets | 21/28 | €4,984,184 | €4,233,846 | -€750,338 | -15.1% |
| Intangible fixed assets | 21 | €1,963,648 | - | -€2.0m | |
| Tangible fixed assets | 22/27 | €3,020,536 | €4,233,846 | +€1.2m | +40.2% |
| Plant, machinery and equipment | 23 | €1,145,442 | €2,968,249 | +€1.8m | +159.1% |
| Furniture and vehicles | 24 | €68,229 | - | -€68,229 | |
| Other tangible fixed assets | 26 | €1,799,525 | €1,189,760 | -€609,765 | -33.9% |
| Assets under construction and advance payments | 27 | €7,340 | €75,837 | +€68,497 | +933.2% |
| Current assets | 29/58 | €264,507,944 | €242,004,608 | -€22.5m | -8.5% |
| Amounts receivable after more than one year | 29 | €117,000,000 | €32,000,000 | -€85.0m | -72.6% |
| Other amounts receivable | 291 | €117,000,000 | €32,000,000 | -€85.0m | -72.6% |
| Stocks and contracts in progress | 3 | €3,139,528 | €2,416,574 | -€722,954 | -23.0% |
| Stocks | 30/36 | €3,139,528 | €2,416,574 | -€722,954 | -23.0% |
| Goods purchased for resale | 34 | €3,139,528 | €2,416,574 | -€722,954 | -23.0% |
| Amounts receivable within one year | 40/41 | €67,529,572 | €145,201,181 | +€77.7m | +115.0% |
| Trade receivables | 40 | €47,981,100 | €36,022,763 | -€12.0m | -24.9% |
| Other amounts receivable | 41 | €19,548,471 | €109,178,418 | +€89.6m | +458.5% |
| Cash at bank and in hand | 54/58 | €1,147,616 | €914,915 | -€232,701 | -20.3% |
| Deferred charges and accrued income | 490/1 | €75,691,229 | €61,471,938 | -€14.2m | -18.8% |
| Total equity and liabilities | 10/49 | €269,492,129 | €246,238,454 | -€23.3m | -8.6% |
| Equity | 10/15 | €27,965,609 | €23,979,577 | -€4.0m | -14.3% |
| Contributions | 10/11 | €23,044,000 | €23,044,000 | = | 0.0% |
| Capital | 10 | €23,044,000 | €23,044,000 | = | 0.0% |
| Issued capital | 100 | €23,044,000 | €23,044,000 | = | 0.0% |
| Reserves | 13 | €615,748 | €935,577 | +€319,829 | +51.9% |
| Non-distributable reserves | 130/1 | €615,748 | €935,577 | +€319,829 | +51.9% |
| Legal reserve | 130 | €615,748 | €935,577 | +€319,829 | +51.9% |
| Profit (loss) carried forward | 14 | €4,305,861 | - | -€4.3m | |
| Amounts payable | 17/49 | €241,526,520 | €222,258,877 | -€19.3m | -8.0% |
| Amounts payable within one year | 42/48 | €60,201,026 | €58,460,683 | -€1.7m | -2.9% |
| Trade debts | 44 | €43,534,415 | €36,342,372 | -€7.2m | -16.5% |
| Suppliers | 440/4 | €43,534,415 | €36,342,372 | -€7.2m | -16.5% |
| Taxes, remuneration and social security | 45 | €16,666,611 | €16,041,558 | -€625,053 | -3.8% |
| Taxes | 450/3 | €9,163,087 | €8,825,186 | -€337,901 | -3.7% |
| Remuneration and social security | 454/9 | €7,503,524 | €7,216,372 | -€287,152 | -3.8% |
| Other amounts payable | 47/48 | - | €6,076,753 | +€6.1m | |
| Accrued charges and deferred income | 492/3 | €181,325,494 | €163,798,194 | -€17.5m | -9.7% |
| Operating income | 70/76A | €406,126,688 | €372,765,216 | -€33.4m | -8.2% |
| Turnover | 70 | €387,779,804 | €353,255,225 | -€34.5m | -8.9% |
| Other operating income | 74 | €18,346,884 | €19,509,991 | +€1.2m | +6.3% |
| Operating charges | 60/66A | €402,999,182 | €368,736,314 | -€34.3m | -8.5% |
| Goods for resale, raw materials and consumables | 60 | €337,650,450 | €307,088,767 | -€30.6m | -9.1% |
| Purchases | 600/8 | €339,110,517 | €306,365,813 | -€32.7m | -9.7% |
| Change in stocks: decrease (increase) | 609 | -€1,460,067 | €722,954 | +€2.2m | |
| Services and other goods | 61 | €5,206,643 | €5,138,261 | -€68,382 | -1.3% |
| Remuneration, social security and pensions | 62 | €55,142,797 | €53,791,252 | -€1.4m | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,925,369 | €2,864,857 | -€2.1m | -41.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€242,599 | -€242,599 | |
| Other operating charges | 640/8 | €73,923 | €95,776 | +€21,853 | +29.6% |
| Operating profit (loss) | 9901 | €3,127,506 | €4,028,902 | +€901,396 | +28.8% |
| Financial income | 75/76B | €5,412,321 | €5,896,258 | +€483,937 | +8.9% |
| Recurring financial income | 75 | €5,412,321 | €5,896,258 | +€483,937 | +8.9% |
| Income from current assets | 751 | €5,079,681 | €5,693,407 | +€613,726 | +12.1% |
| Other financial income | 752/9 | €332,640 | €202,851 | -€129,789 | -39.0% |
| Financial charges | 65/66B | €506,736 | €74,060 | -€432,676 | -85.4% |
| Recurring financial charges | 65 | €506,736 | €74,060 | -€432,676 | -85.4% |
| Other financial charges | 652/9 | €506,736 | €74,060 | -€432,676 | -85.4% |
| Profit (loss) for the period before taxes | 9903 | €8,033,091 | €9,851,100 | +€1.8m | +22.6% |
| Income taxes | 67/77 | €3,482,980 | €3,454,518 | -€28,462 | -0.8% |
| Taxes | 670/3 | €3,482,980 | €3,454,518 | -€28,462 | -0.8% |
| Profit (loss) for the period | 9904 | €4,550,112 | €6,396,582 | +€1.8m | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,550,112 | €6,396,582 | +€1.8m | +40.6% |
Source: filed annual accounts (NBB), financial years ended 2 February 2024 and 31 January 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.