DELLISSE MANAGEMENT: what changed
What changed
DELLISSE MANAGEMENT
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€69,521
2024 · €84,490-€14,968
Equity
€935,660
2024 · €866,138+€69,521
Cash
€19,271
2024 · €20,220-€949
Balance sheet total
€2.3m
2024 · €2.4m-€107,844
Largest movements
Assets
- Tangible fixed assets -€64,347
down €64,347 (-8.5%), from €753,134 to €688,787
- Receivables within one year -€42,683
down €42,683 (-21.9%), from €194,950 to €152,267
of which Trade receivables: -€47,478
Equity and liabilities
- Debts after one year -€130,828
down €130,828 (-13.1%), from €998,817 to €867,990
- Reserves +€69,521
up €69,521 (+8.2%), from €847,538 to €917,060
- Accrued charges and deferred income -€62,780
down €62,780 (-99.7%), from €62,970 to €190
Income statement
- Gross operating margin -€22,838
down €22,838 (-10.3%), from €222,553 to €199,715
- Taxes -€7,632
down €7,632 (-29.0%), from €26,286 to €18,654
- Depreciation +€4,879
up €4,879 (+8.2%), from €59,468 to €64,347
- Financial charges -€3,323
down €3,323 (-7.2%), from €46,167 to €42,844
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€84,490
Gross operating margin
-€22,838
Depreciation
-€4,879
Other operating charges
+€1,794
Financial income
+€0
Financial charges
+€3,323
Taxes
+€7,632
Result 2025
€69,521
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€130,006
Investment
€0
Financing
-€130,955
Cash 2024
€20,220
From operations (derived)
+€130,006
Net result for the year
+€69,521
Depreciation
+€64,347
Receivables within one year
+€42,683
Deferred charges and accrued income
-€136
Trade debts
+€2,924
Tax, wage and social debts
-€4,339
Other debts
+€17,785
Accrued charges and deferred income
-€62,780
Financing
-€130,955
Debts after one year
-€130,828
Current portion of long-term debt
+€2,615
Short-term financial debts
-€2,742
Cash 2025
€19,271
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,370,735 | €2,262,891 | -€107,844 | -4.5% |
| Fixed assets | 21/28 | €2,153,134 | €2,088,787 | -€64,347 | -3.0% |
| Tangible fixed assets | 22/27 | €753,134 | €688,787 | -€64,347 | -8.5% |
| Land and buildings | 22 | €560,905 | €538,922 | -€21,984 | -3.9% |
| Plant, machinery and equipment | 23 | €105,817 | €85,931 | -€19,886 | -18.8% |
| Furniture and vehicles | 24 | €86,412 | €63,934 | -€22,477 | -26.0% |
| Financial fixed assets | 28 | €1,400,000 | €1,400,000 | = | 0.0% |
| Current assets | 29/58 | €217,601 | €174,104 | -€43,497 | -20.0% |
| Amounts receivable within one year | 40/41 | €194,950 | €152,267 | -€42,683 | -21.9% |
| Trade receivables | 40 | €49,101 | €1,623 | -€47,478 | -96.7% |
| Other amounts receivable | 41 | €145,849 | €150,644 | +€4,794 | +3.3% |
| Cash at bank and in hand | 54/58 | €20,220 | €19,271 | -€949 | -4.7% |
| Deferred charges and accrued income | 490/1 | €2,430 | €2,566 | +€136 | +5.6% |
| Total equity and liabilities | 10/49 | €2,370,735 | €2,262,891 | -€107,844 | -4.5% |
| Equity | 10/15 | €866,138 | €935,660 | +€69,521 | +8.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €847,538 | €917,060 | +€69,521 | +8.2% |
| Distributable reserves | 133 | €847,538 | €917,060 | +€69,521 | +8.2% |
| Amounts payable | 17/49 | €1,504,596 | €1,327,231 | -€177,365 | -11.8% |
| Amounts payable after more than one year | 17 | €998,817 | €867,990 | -€130,828 | -13.1% |
| Financial debts | 170/4 | €998,817 | €867,990 | -€130,828 | -13.1% |
| Amounts payable within one year | 42/48 | €442,809 | €459,052 | +€16,243 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €128,213 | €130,828 | +€2,615 | +2.0% |
| Financial debts | 43 | €10,157 | €7,415 | -€2,742 | -27.0% |
| Credit institutions | 430/8 | €10,157 | €7,415 | -€2,742 | -27.0% |
| Trade debts | 44 | - | €2,924 | +€2,924 | |
| Suppliers | 440/4 | - | €2,924 | +€2,924 | |
| Taxes, remuneration and social security | 45 | €16,967 | €12,628 | -€4,339 | -25.6% |
| Taxes | 450/3 | €15,190 | €10,852 | -€4,338 | -28.6% |
| Remuneration and social security | 454/9 | €1,777 | €1,776 | -€1 | -0.1% |
| Other amounts payable | 47/48 | €287,472 | €305,257 | +€17,785 | +6.2% |
| Accrued charges and deferred income | 492/3 | €62,970 | €190 | -€62,780 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,468 | €64,347 | +€4,879 | +8.2% |
| Other operating charges | 640/8 | €6,142 | €4,348 | -€1,794 | -29.2% |
| Gross operating margin | 9900 | €222,553 | €199,715 | -€22,838 | -10.3% |
| Operating profit (loss) | 9901 | €156,942 | €131,020 | -€25,923 | -16.5% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €46,167 | €42,844 | -€3,323 | -7.2% |
| Recurring financial charges | 65 | €46,167 | €42,844 | -€3,323 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €110,775 | €88,176 | -€22,600 | -20.4% |
| Income taxes | 67/77 | €26,286 | €18,654 | -€7,632 | -29.0% |
| Profit (loss) for the period | 9904 | €84,490 | €69,521 | -€14,968 | -17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €84,490 | €69,521 | -€14,968 | -17.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.