Dell20: what changed
Two fiscal 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.
Dell20
Largest movements
- Cash +€44,974
up €44,974 (+47.6%), from €94,456 to €139,430
mainly Net result for the year (+€35,188) and Tax, wage and social debts (+€8,572)
- Reserves +€35,187
up €35,187 (+47.0%), from €74,893 to €110,080
- Tax, wage and social debts +€8,572
up €8,572 (+15.4%), from €55,711 to €64,283
of which Remuneration and social security: +€15,408
- Trade debts +€5,260
new in 2025: €5,260
- Current portion of long-term debt -€4,741
down €4,741 (-74.8%), from €6,339 to €1,598
- Staff costs +€92,126
up €92,126 (+59.2%), from €155,511 to €247,637
- Gross operating margin +€84,192
up €84,192 (+38.3%), from €219,643 to €303,835
- Depreciation -€7,036
down €7,036 (-73.0%), from €9,634 to €2,598
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 | €138,541 | €181,221 | +€42,680 | +30.8% |
| Fixed assets | 21/28 | €2,918 | €1,589 | -€1,329 | -45.5% |
| Tangible fixed assets | 22/27 | €2,890 | €1,555 | -€1,335 | -46.2% |
| Plant, machinery and equipment | 23 | €1,183 | €1,555 | +€372 | +31.4% |
| Furniture and vehicles | 24 | €1,707 | - | -€1,707 | |
| Financial fixed assets | 28 | €28 | €34 | +€6 | +21.4% |
| Current assets | 29/58 | €135,623 | €179,632 | +€44,009 | +32.4% |
| Amounts receivable within one year | 40/41 | €39,928 | €39,184 | -€744 | -1.9% |
| Trade receivables | 40 | €35,253 | €31,356 | -€3,897 | -11.1% |
| Other amounts receivable | 41 | €4,675 | €7,828 | +€3,153 | +67.4% |
| Cash at bank and in hand | 54/58 | €94,456 | €139,430 | +€44,974 | +47.6% |
| Deferred charges and accrued income | 490/1 | €1,239 | €1,018 | -€221 | -17.8% |
| Total equity and liabilities | 10/49 | €138,541 | €181,221 | +€42,680 | +30.8% |
| Equity | 10/15 | €74,893 | €110,080 | +€35,187 | +47.0% |
| Reserves | 13 | €74,893 | €110,080 | +€35,187 | +47.0% |
| Distributable reserves | 133 | €74,893 | €110,080 | +€35,187 | +47.0% |
| Amounts payable | 17/49 | €63,648 | €71,141 | +€7,493 | +11.8% |
| Amounts payable after more than one year | 17 | €1,598 | - | -€1,598 | |
| Financial debts | 170/4 | €1,598 | - | -€1,598 | |
| Amounts payable within one year | 42/48 | €62,050 | €71,141 | +€9,091 | +14.7% |
| Current portion of amounts payable after more than one year | 42 | €6,339 | €1,598 | -€4,741 | -74.8% |
| Trade debts | 44 | - | €5,260 | +€5,260 | |
| Suppliers | 440/4 | - | €5,260 | +€5,260 | |
| Taxes, remuneration and social security | 45 | €55,711 | €64,283 | +€8,572 | +15.4% |
| Taxes | 450/3 | €18,114 | €11,278 | -€6,836 | -37.7% |
| Remuneration and social security | 454/9 | €37,597 | €53,005 | +€15,408 | +41.0% |
| Remuneration, social security and pensions | 62 | €155,511 | €247,637 | +€92,126 | +59.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,634 | €2,598 | -€7,036 | -73.0% |
| Other operating charges | 640/8 | €837 | €1,385 | +€548 | +65.5% |
| Non-recurring operating charges | 66A | - | €265 | +€265 | |
| Gross operating margin | 9900 | €219,643 | €303,835 | +€84,192 | +38.3% |
| Operating profit (loss) | 9901 | €53,661 | €51,950 | -€1,711 | -3.2% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,053 | €544 | -€509 | -48.3% |
| Recurring financial charges | 65 | €1,053 | €544 | -€509 | -48.3% |
| Profit (loss) for the period before taxes | 9903 | €52,608 | €51,407 | -€1,201 | -2.3% |
| Income taxes | 67/77 | €16,898 | €16,219 | -€679 | -4.0% |
| Profit (loss) for the period | 9904 | €35,710 | €35,188 | -€522 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,710 | €35,188 | -€522 | -1.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.