DELL MANAGEMENT: 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.
DELL MANAGEMENT
Largest movements
- Tangible fixed assets -€11,741
down €11,741 (-23.1%), from €50,812 to €39,072
- Cash +€11,099
up €11,099 (+191.7%), from €5,790 to €16,889
mainly Trade debts (+€13,256) and Depreciation (+€11,741)
- Receivables within one year +€6,793
up €6,793 (+12.9%), from €52,761 to €59,553
of which Other amounts receivable: +€7,052
- Trade debts +€13,256
up €13,256 (+21.8%), from €60,840 to €74,096
- Tax, wage and social debts -€10,625
down €10,625 (-86.3%), from €12,318 to €1,693
- Other debts +€3,377
up €3,377 (+86.5%), from €3,901 to €7,278
- Gross operating margin +€9,372
up €9,372 (+175.5%), from €5,340 to €14,712
- Depreciation +€3,849
up €3,849 (+48.8%), from €7,891 to €11,741
- Other operating charges -€3,141
down €3,141 (-74.8%), from €4,200 to €1,059
- Taxes +€1,948
up €1,948, from -€232 to €1,716
- Financial charges -€613
down €613 (-86.0%), from €713 to €100
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 | €309,495 | €315,645 | +€6,151 | +2.0% |
| Fixed assets | 21/28 | €50,812 | €39,072 | -€11,741 | -23.1% |
| Tangible fixed assets | 22/27 | €50,812 | €39,072 | -€11,741 | -23.1% |
| Furniture and vehicles | 24 | €50,812 | €39,072 | -€11,741 | -23.1% |
| Current assets | 29/58 | €258,683 | €276,574 | +€17,891 | +6.9% |
| Stocks and contracts in progress | 3 | €200,131 | €200,131 | = | 0.0% |
| Stocks | 30/36 | €200,131 | €200,131 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €52,761 | €59,553 | +€6,793 | +12.9% |
| Trade receivables | 40 | €42,610 | €42,350 | -€260 | -0.6% |
| Other amounts receivable | 41 | €10,151 | €17,203 | +€7,052 | +69.5% |
| Cash at bank and in hand | 54/58 | €5,790 | €16,889 | +€11,099 | +191.7% |
| Total equity and liabilities | 10/49 | €309,495 | €315,645 | +€6,151 | +2.0% |
| Equity | 10/15 | €232,435 | €232,578 | +€143 | +0.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | - | -€61,500 | |
| Issued capital | 100 | €61,500 | - | -€61,500 | |
| Contributions outside capital | 11 | - | €61,500 | +€61,500 | |
| Other | 1109/19 | - | €61,500 | +€61,500 | |
| Reserves | 13 | €178,111 | €178,111 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €171,961 | €171,961 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,175 | -€7,032 | +€143 | +2.0% |
| Amounts payable | 17/49 | €77,060 | €83,067 | +€6,007 | +7.8% |
| Amounts payable within one year | 42/48 | €77,060 | €83,067 | +€6,007 | +7.8% |
| Trade debts | 44 | €60,840 | €74,096 | +€13,256 | +21.8% |
| Suppliers | 440/4 | €60,840 | €74,096 | +€13,256 | +21.8% |
| Taxes, remuneration and social security | 45 | €12,318 | €1,693 | -€10,625 | -86.3% |
| Taxes | 450/3 | €12,318 | €1,693 | -€10,625 | -86.3% |
| Other amounts payable | 47/48 | €3,901 | €7,278 | +€3,377 | +86.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,891 | €11,741 | +€3,849 | +48.8% |
| Other operating charges | 640/8 | €4,200 | €1,059 | -€3,141 | -74.8% |
| Gross operating margin | 9900 | €5,340 | €14,712 | +€9,372 | +175.5% |
| Operating profit (loss) | 9901 | -€6,751 | €1,912 | +€8,664 | |
| Financial income | 75/76B | €57 | €47 | -€10 | -18.1% |
| Recurring financial income | 75 | €57 | €47 | -€10 | -18.1% |
| Financial charges | 65/66B | €713 | €100 | -€613 | -86.0% |
| Recurring financial charges | 65 | €713 | €100 | -€613 | -86.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,407 | €1,859 | +€9,267 | |
| Income taxes | 67/77 | -€232 | €1,716 | +€1,948 | |
| Profit (loss) for the period | 9904 | -€7,175 | €143 | +€7,319 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,175 | €143 | +€7,319 |
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 11 October 2026 via checked.be.