DELLEUSE MARC: 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.
DELLEUSE MARC
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+74.4%), from €1.7m to €3.0m
of which Land and buildings: +€1.4m
- Cash -€283,872
down €283,872 (-74.5%), from €380,965 to €97,093
mainly Investment in fixed assets (net) (-€1.6m) and Receivables within one year (-€116,552)
- Receivables within one year +€116,552
up €116,552 (+33.2%), from €351,132 to €467,684
of which Other amounts receivable: +€81,753
- Debts after one year +€948,185
up €948,185 (+101%), from €939,879 to €1.9m
- Reserves +€93,139
up €93,139 (+7.2%), from €1.3m to €1.4m
of which Distributable reserves: +€93,139
- Current portion of long-term debt +€65,672
up €65,672 (+41.6%), from €157,943 to €223,615
- Trade debts +€42,411
up €42,411 (+112%), from €37,995 to €80,406
- Gross operating margin -€178,387
down €178,387 (-14.8%), from €1.2m to €1.0m
- Depreciation +€140,504
up €140,504 (+66.8%), from €210,287 to €350,791
- Taxes -€111,273
down €111,273 (-68.6%), from €162,205 to €50,931
- Financial charges +€31,658
up €31,658 (+91.5%), from €34,587 to €66,245
- Other operating charges +€17,107
up €17,107 (+76.4%), from €22,388 to €39,495
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.
Derived cash bridge
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 | €2,657,489 | €3,804,435 | +€1.1m | +43.2% |
| Fixed assets | 21/28 | €1,726,278 | €2,999,016 | +€1.3m | +73.7% |
| Tangible fixed assets | 22/27 | €1,719,908 | €2,999,016 | +€1.3m | +74.4% |
| Land and buildings | 22 | €1,409,612 | €2,779,554 | +€1.4m | +97.2% |
| Plant, machinery and equipment | 23 | €141,547 | €112,470 | -€29,078 | -20.5% |
| Furniture and vehicles | 24 | €151,730 | €104,978 | -€46,752 | -30.8% |
| Leasing and similar rights | 25 | €17,019 | €2,014 | -€15,005 | -88.2% |
| Financial fixed assets | 28 | €6,370 | - | -€6,370 | |
| Current assets | 29/58 | €931,211 | €805,419 | -€125,793 | -13.5% |
| Amounts receivable within one year | 40/41 | €351,132 | €467,684 | +€116,552 | +33.2% |
| Trade receivables | 40 | €115,036 | €149,835 | +€34,799 | +30.3% |
| Other amounts receivable | 41 | €236,096 | €317,849 | +€81,753 | +34.6% |
| Current investments | 50/53 | €187,499 | €211,499 | +€24,000 | +12.8% |
| Cash at bank and in hand | 54/58 | €380,965 | €97,093 | -€283,872 | -74.5% |
| Deferred charges and accrued income | 490/1 | €11,615 | €29,143 | +€17,527 | +151% |
| Total equity and liabilities | 10/49 | €2,657,489 | €3,804,435 | +€1.1m | +43.2% |
| Equity | 10/15 | €1,451,494 | €1,536,848 | +€85,354 | +5.9% |
| Contributions | 10/11 | €5,717 | €5,717 | = | 0.0% |
| Contributions outside capital | 11 | €5,717 | €5,717 | = | 0.0% |
| Other | 1109/19 | €5,717 | €5,717 | = | 0.0% |
| Reserves | 13 | €1,285,916 | €1,379,054 | +€93,139 | +7.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,284,056 | €1,377,194 | +€93,139 | +7.3% |
| Investment grants | 15 | €159,862 | €152,078 | -€7,785 | -4.9% |
| Amounts payable | 17/49 | €1,205,995 | €2,267,587 | +€1.1m | +88.0% |
| Amounts payable after more than one year | 17 | €939,879 | €1,888,064 | +€948,185 | +101% |
| Financial debts | 170/4 | €939,879 | €1,888,064 | +€948,185 | +101% |
| Amounts payable within one year | 42/48 | €265,717 | €373,163 | +€107,445 | +40.4% |
| Current portion of amounts payable after more than one year | 42 | €157,943 | €223,615 | +€65,672 | +41.6% |
| Financial debts | 43 | €1,551 | €2,870 | +€1,319 | +85.0% |
| Credit institutions | 430/8 | €1,551 | €2,870 | +€1,319 | +85.0% |
| Trade debts | 44 | €37,995 | €80,406 | +€42,411 | +112% |
| Suppliers | 440/4 | €37,995 | €80,406 | +€42,411 | +112% |
| Advances received on contracts in progress | 46 | €24,433 | €25,391 | +€958 | +3.9% |
| Taxes, remuneration and social security | 45 | €43,795 | €40,881 | -€2,915 | -6.7% |
| Taxes | 450/3 | €39,940 | €38,783 | -€1,158 | -2.9% |
| Remuneration and social security | 454/9 | €3,855 | €2,098 | -€1,757 | -45.6% |
| Accrued charges and deferred income | 492/3 | €398 | €6,360 | +€5,962 | +1,497% |
| Remuneration, social security and pensions | 62 | €432,973 | €435,490 | +€2,517 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €210,287 | €350,791 | +€140,504 | +66.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €450 | - | -€450 | |
| Other operating charges | 640/8 | €22,388 | €39,495 | +€17,107 | +76.4% |
| Non-recurring operating charges | 66A | - | €39 | +€39 | |
| Gross operating margin | 9900 | €1,201,270 | €1,022,883 | -€178,387 | -14.8% |
| Operating profit (loss) | 9901 | €535,172 | €197,068 | -€338,103 | -63.2% |
| Financial income | 75/76B | €12,389 | €13,246 | +€857 | +6.9% |
| Recurring financial income | 75 | €12,389 | €13,246 | +€857 | +6.9% |
| Financial charges | 65/66B | €34,587 | €66,245 | +€31,658 | +91.5% |
| Recurring financial charges | 65 | €34,587 | €66,245 | +€31,658 | +91.5% |
| Profit (loss) for the period before taxes | 9903 | €512,974 | €144,070 | -€368,904 | -71.9% |
| Income taxes | 67/77 | €162,205 | €50,931 | -€111,273 | -68.6% |
| Profit (loss) for the period | 9904 | €350,769 | €93,139 | -€257,630 | -73.4% |
| Profit (loss) for the period to be appropriated | 9905 | €350,769 | €93,139 | -€257,630 | -73.4% |
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 24 October 2026 via checked.be.