DELLAERT: 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.
DELLAERT
Largest movements
- Current investments -€226,001
down €226,001 (-73.9%), from €306,000 to €79,998
- Financial fixed assets +€195,774
up €195,774 (+233788.5%), from €84 to €195,858
- Receivables within one year +€157,523
up €157,523 (+1486.8%), from €10,595 to €168,118
of which Trade receivables: +€156,068
- Tangible fixed assets +€38,393
up €38,393 (+9.3%), from €411,638 to €450,031
of which Furniture and vehicles: +€60,547
- Cash +€30,990
up €30,990 (+19.7%), from €157,566 to €188,556
mainly Current investments (+€226,001) and Net result for the year (+€190,444)
- Reserves +€188,778
up €188,778 (+40.8%), from €462,238 to €651,017
- Debts after one year -€143,988
down €143,988 (-40.4%), from €355,988 to €212,000
of which Other amounts payable: -€170,000
- Other debts +€130,907
up €130,907 (+1195.5%), from €10,950 to €141,857
- Current portion of long-term debt +€11,752
up €11,752 (+55.3%), from €21,236 to €32,988
- Gross operating margin -€169,089
down €169,089 (-33.2%), from €510,035 to €340,946
- Taxes -€48,483
down €48,483 (-37.2%), from €130,224 to €81,741
- Staff costs -€19,548
down €19,548 (-31.6%), from €61,873 to €42,326
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 | €893,469 | €1,089,562 | +€196,093 | +21.9% |
| Fixed assets | 21/28 | €411,721 | €645,889 | +€234,167 | +56.9% |
| Tangible fixed assets | 22/27 | €411,638 | €450,031 | +€38,393 | +9.3% |
| Land and buildings | 22 | €401,408 | €379,254 | -€22,154 | -5.5% |
| Furniture and vehicles | 24 | €10,229 | €70,777 | +€60,547 | +591.9% |
| Financial fixed assets | 28 | €84 | €195,858 | +€195,774 | +233788.5% |
| Current assets | 29/58 | €481,748 | €443,674 | -€38,074 | -7.9% |
| Amounts receivable within one year | 40/41 | €10,595 | €168,118 | +€157,523 | +1486.8% |
| Trade receivables | 40 | €0 | €156,068 | +€156,068 | |
| Other amounts receivable | 41 | €10,595 | €12,050 | +€1,455 | +13.7% |
| Current investments | 50/53 | €306,000 | €79,998 | -€226,001 | -73.9% |
| Cash at bank and in hand | 54/58 | €157,566 | €188,556 | +€30,990 | +19.7% |
| Deferred charges and accrued income | 490/1 | €7,587 | €7,001 | -€586 | -7.7% |
| Total equity and liabilities | 10/49 | €893,469 | €1,089,562 | +€196,093 | +21.9% |
| Equity | 10/15 | €468,450 | €657,228 | +€188,778 | +40.3% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €462,238 | €651,017 | +€188,778 | +40.8% |
| Distributable reserves | 133 | €462,238 | €651,017 | +€188,778 | +40.8% |
| Profit (loss) carried forward | 14 | €14 | €14 | = | 0.0% |
| Amounts payable | 17/49 | €425,020 | €432,334 | +€7,315 | +1.7% |
| Amounts payable after more than one year | 17 | €355,988 | €212,000 | -€143,988 | -40.4% |
| Financial debts | 170/4 | €185,988 | €212,000 | +€26,012 | +14.0% |
| Other amounts payable | 178/9 | €170,000 | €0 | -€170,000 | -100.0% |
| Amounts payable within one year | 42/48 | €68,972 | €220,251 | +€151,278 | +219.3% |
| Current portion of amounts payable after more than one year | 42 | €21,236 | €32,988 | +€11,752 | +55.3% |
| Trade debts | 44 | €8,040 | €6,713 | -€1,328 | -16.5% |
| Suppliers | 440/4 | €8,040 | €6,713 | -€1,328 | -16.5% |
| Taxes, remuneration and social security | 45 | €28,746 | €38,693 | +€9,947 | +34.6% |
| Taxes | 450/3 | €20,588 | €34,773 | +€14,185 | +68.9% |
| Remuneration and social security | 454/9 | €8,158 | €3,920 | -€4,238 | -51.9% |
| Other amounts payable | 47/48 | €10,950 | €141,857 | +€130,907 | +1195.5% |
| Accrued charges and deferred income | 492/3 | €59 | €84 | +€25 | +41.8% |
| Non-recurring operating income | 76A | €373,307 | €200,903 | -€172,404 | -46.2% |
| Remuneration, social security and pensions | 62 | €61,873 | €42,326 | -€19,548 | -31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,706 | €26,679 | +€2,973 | +12.5% |
| Other operating charges | 640/8 | €3,523 | €2,167 | -€1,356 | -38.5% |
| Gross operating margin | 9900 | €510,035 | €340,946 | -€169,089 | -33.2% |
| Operating profit (loss) | 9901 | €420,933 | €269,774 | -€151,159 | -35.9% |
| Financial income | 75/76B | €2,914 | €6,245 | +€3,331 | +114.3% |
| Recurring financial income | 75 | €2,914 | €6,245 | +€3,331 | +114.3% |
| Financial charges | 65/66B | €5,157 | €3,834 | -€1,324 | -25.7% |
| Recurring financial charges | 65 | €5,157 | €3,834 | -€1,324 | -25.7% |
| Profit (loss) for the period before taxes | 9903 | €418,690 | €272,185 | -€146,504 | -35.0% |
| Income taxes | 67/77 | €130,224 | €81,741 | -€48,483 | -37.2% |
| Profit (loss) for the period | 9904 | €288,466 | €190,444 | -€98,021 | -34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €288,466 | €190,444 | -€98,021 | -34.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.