DELMAR METAL: 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.
What changed
DELMAR METAL
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2023not consecutivefiled annual accounts (NBB)
Net result for the year
€1.4m
2023 · -€1.6m+€2.9m
Equity
€647,547
2023 · €2.2m-€1.6m
Cash
€1,355
2023 · -+€1,355
Balance sheet total
€1.7m
2023 · €4.2m-€2.4m
Largest movements
Assets
- Tangible fixed assets -€2.6m
down €2.6m (-91.5%), from €2.9m to €247,351
of which Land and buildings: -€2.9m
- Receivables within one year +€383,855
up €383,855 (+52.5%), from €730,716 to €1.1m
- Receivables after one year -€88,045
down €88,045 (-20.3%), from €433,953 to €345,908
- Deferred charges and accrued income -€77,295
down €77,295 (-84.7%), from €91,295 to €14,000
Equity and liabilities
- Revaluation surpluses -€2.6m
no longer reported in 2025 (was €2.6m)
- Profit (loss) carried forward +€1.0m
up €1.0m, from -€560,254 to €489,647
- Debts after one year -€309,999
no longer reported in 2025 (was €309,999)
- Short-term financial debts -€193,925
down €193,925 (-99.2%), from €195,552 to €1,626
- Current portion of long-term debt -€183,250
no longer reported in 2025 (was €183,250)
Income statement
- Gross operating margin +€2.1m
new in 2025: €2.1m
- Write-downs +€398,348
new in 2025: €398,348
- Turnover -€216,000
no longer reported in 2025 (was €216,000)
- Services and other goods -€175,837
no longer reported in 2025 (was €175,837)
- Depreciation -€148,545
down €148,545 (-90.0%), from €165,014 to €16,469
From the 2023 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.
Result 2023
-€1.6m
Turnover
-€216,000
Other operating income
-€62,208
Goods and materials
+€451
Services and other goods
+€175,837
Staff costs
+€144,359
Depreciation
+€148,545
Write-downs
-€398,348
Provisions
-€80,000
Other operating charges
-€28,503
Other operating items
+€3.3m
Financial income
+€51,161
Financial charges
-€54,511
Taxes
-€9,956
Result 2025
€1.4m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,150,821 | €1,723,184 | -€2.4m | -58.5% |
| Fixed assets | 21/28 | €2,894,858 | €247,351 | -€2.6m | -91.5% |
| Tangible fixed assets | 22/27 | €2,894,858 | €247,351 | -€2.6m | -91.5% |
| Land and buildings | 22 | €2,881,283 | - | -€2.9m | |
| Plant, machinery and equipment | 23 | €13,575 | €83,085 | +€69,510 | +512% |
| Furniture and vehicles | 24 | - | €164,265 | +€164,265 | |
| Current assets | 29/58 | €1,255,963 | €1,475,833 | +€219,870 | +17.5% |
| Amounts receivable after more than one year | 29 | €433,953 | €345,908 | -€88,045 | -20.3% |
| Other amounts receivable | 291 | €433,953 | €345,908 | -€88,045 | -20.3% |
| Amounts receivable within one year | 40/41 | €730,716 | €1,114,571 | +€383,855 | +52.5% |
| Other amounts receivable | 41 | €730,716 | €1,114,571 | +€383,855 | +52.5% |
| Cash at bank and in hand | 54/58 | - | €1,355 | +€1,355 | |
| Deferred charges and accrued income | 490/1 | €91,295 | €14,000 | -€77,295 | -84.7% |
| Total equity and liabilities | 10/49 | €4,150,821 | €1,723,184 | -€2.4m | -58.5% |
| Equity | 10/15 | €2,218,896 | €647,547 | -€1.6m | -70.8% |
| Contributions | 10/11 | €121,500 | €121,500 | = | 0.0% |
| Revaluation surpluses | 12 | €2,606,063 | - | -€2.6m | |
| Reserves | 13 | €36,400 | €36,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,150 | - | -€12,150 | |
| Reserves not available under the articles | 1311 | €12,150 | - | -€12,150 | |
| Tax-exempt reserves | 132 | €24,250 | €24,250 | = | 0.0% |
| Distributable reserves | 133 | - | €12,150 | +€12,150 | |
| Profit (loss) carried forward | 14 | -€560,254 | €489,647 | +€1.0m | |
| Investment grants | 15 | €15,187 | - | -€15,187 | |
| Amounts payable | 17/49 | €1,931,925 | €1,075,637 | -€856,288 | -44.3% |
| Amounts payable after more than one year | 17 | €309,999 | - | -€309,999 | |
| Financial debts | 170/4 | €309,999 | - | -€309,999 | |
| Credit institutions | 173 | €309,999 | - | -€309,999 | |
| Amounts payable within one year | 42/48 | €1,621,925 | €1,061,353 | -€560,573 | -34.6% |
| Current portion of amounts payable after more than one year | 42 | €183,250 | - | -€183,250 | |
| Financial debts | 43 | €195,552 | €1,626 | -€193,925 | -99.2% |
| Credit institutions | 430/8 | €195,552 | €1,626 | -€193,925 | -99.2% |
| Trade debts | 44 | €247,090 | €134,093 | -€112,997 | -45.7% |
| Suppliers | 440/4 | €247,090 | €134,093 | -€112,997 | -45.7% |
| Taxes, remuneration and social security | 45 | €116,108 | €21,623 | -€94,485 | -81.4% |
| Taxes | 450/3 | €56,327 | €21,623 | -€34,704 | -61.6% |
| Remuneration and social security | 454/9 | €59,781 | - | -€59,781 | |
| Other amounts payable | 47/48 | €879,925 | €904,010 | +€24,085 | +2.7% |
| Accrued charges and deferred income | 492/3 | - | €14,284 | +€14,284 | |
| Operating income | 70/76A | €278,208 | - | -€278,208 | |
| Turnover | 70 | €216,000 | - | -€216,000 | |
| Other operating income | 74 | €62,208 | - | -€62,208 | |
| Operating charges | 60/66A | €1,796,538 | - | -€1.8m | |
| Goods for resale, raw materials and consumables | 60 | €451 | - | -€451 | |
| Purchases | 600/8 | €451 | - | -€451 | |
| Services and other goods | 61 | €175,837 | - | -€175,837 | |
| Remuneration, social security and pensions | 62 | €206,522 | €62,163 | -€144,359 | -69.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,014 | €16,469 | -€148,545 | -90.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €398,348 | +€398,348 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€80,000 | - | +€80,000 | |
| Other operating charges | 640/8 | €4,108 | €32,611 | +€28,503 | +694% |
| Non-recurring operating charges | 66A | €1,324,606 | €150,288 | -€1.2m | -88.7% |
| Gross operating margin | 9900 | - | €2,079,328 | +€2.1m | |
| Operating profit (loss) | 9901 | -€1,518,330 | €1,419,449 | +€2.9m | |
| Financial income | 75/76B | €10,812 | €61,973 | +€51,161 | +473% |
| Recurring financial income | 75 | €10,812 | €61,973 | +€51,161 | +473% |
| Income from current assets | 751 | €9,058 | - | -€9,058 | |
| Other financial income | 752/9 | €1,755 | - | -€1,755 | |
| Financial charges | 65/66B | €47,054 | €101,565 | +€54,511 | +116% |
| Recurring financial charges | 65 | €47,054 | €101,565 | +€54,511 | +116% |
| Debt charges | 650 | €40,371 | - | -€40,371 | |
| Other financial charges | 652/9 | €6,683 | - | -€6,683 | |
| Profit (loss) for the period before taxes | 9903 | -€1,554,571 | €1,379,857 | +€2.9m | |
| Income taxes | 67/77 | - | €9,956 | +€9,956 | |
| Profit (loss) for the period | 9904 | -€1,554,571 | €1,369,901 | +€2.9m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,554,571 | €1,369,901 | +€2.9m |
Source: filed annual accounts (NBB), financial years ended 30 November 2023 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.