DELMAXKO: what changed
What changed
DELMAXKO
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€87,187
2024 · €53,780+€33,407
Equity
€495,122
2024 · €2.3m-€1.8m
Cash
€1.1m
2024 · €1.2m-€68,802
Balance sheet total
€1.6m
2024 · €2.3m-€680,620
Largest movements
Assets
- Current investments -€602,150
down €602,150 (-56.8%), from €1.1m to €458,786
- Cash -€68,802
down €68,802 (-5.8%), from €1.2m to €1.1m
mainly Contributions, distributions and other (-€1.9m) and Smaller working-capital items (-€3,746)
Equity and liabilities
- Reserves -€1.8m
down €1.8m (-79.3%), from €2.3m to €468,722
- Other debts +€1.1m
new in 2025: €1.1m
Income statement
- Financial income +€74,896
up €74,896 (+150%), from €49,940 to €124,836
- Taxes +€29,285
up €29,285 (+208%), from €14,079 to €43,365
- Gross operating margin -€6,970
down €6,970 (-18.9%), from €36,945 to €29,976
- Financial charges -€4,587
down €4,587 (-84.0%), from €5,457 to €870
- Depreciation +€890
up €890 (+7.3%), from €12,135 to €13,025
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
€53,780
Gross operating margin
-€6,970
Depreciation
-€890
Other operating charges
-€195
Other operating items
-€8,736
Financial income
+€74,896
Financial charges
+€4,587
Taxes
-€29,285
Result 2025
€87,187
raises the resultlowers the resultnot broken down further in the accounts
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
+€1.2m
Investment
+€602,150
Financing
-€1.9m
Cash 2024
€1.2m
From operations (derived)
+€1.2m
Net result for the year
+€87,187
Depreciation
+€13,025
Smaller working-capital items
-€3,746
Tax, wage and social debts
+€19,881
Other debts
+€1.1m
Investment (derived)
+€602,150
Current investments
+€602,150
Financing
-€1.9m
Contributions, distributions and other
-€1.9m
Cash 2025
€1.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,300,606 | €1,619,986 | -€680,620 | -29.6% |
| Fixed assets | 21/28 | €52,990 | €39,965 | -€13,025 | -24.6% |
| Tangible fixed assets | 22/27 | €52,990 | €39,965 | -€13,025 | -24.6% |
| Furniture and vehicles | 24 | €52,990 | €39,965 | -€13,025 | -24.6% |
| Current assets | 29/58 | €2,247,616 | €1,580,021 | -€667,595 | -29.7% |
| Amounts receivable within one year | 40/41 | €1,690 | €5,026 | +€3,336 | +197% |
| Trade receivables | 40 | €1,490 | €5,026 | +€3,536 | +237% |
| Other amounts receivable | 41 | €200 | - | -€200 | |
| Current investments | 50/53 | €1,060,936 | €458,786 | -€602,150 | -56.8% |
| Cash at bank and in hand | 54/58 | €1,184,582 | €1,115,780 | -€68,802 | -5.8% |
| Deferred charges and accrued income | 490/1 | €408 | €429 | +€21 | +5.1% |
| Total equity and liabilities | 10/49 | €2,300,606 | €1,619,986 | -€680,620 | -29.6% |
| Equity | 10/15 | €2,295,583 | €495,122 | -€1.8m | -78.4% |
| Contributions | 10/11 | €26,400 | €26,400 | = | 0.0% |
| Reserves | 13 | €2,269,183 | €468,722 | -€1.8m | -79.3% |
| Distributable reserves | 133 | €2,269,183 | €468,722 | -€1.8m | -79.3% |
| Amounts payable | 17/49 | €5,023 | €1,124,865 | +€1.1m | +22,295% |
| Amounts payable within one year | 42/48 | €5,023 | €1,124,865 | +€1.1m | +22,295% |
| Trade debts | 44 | €2,531 | €2,141 | -€390 | -15.4% |
| Suppliers | 440/4 | €2,531 | €2,141 | -€390 | -15.4% |
| Taxes, remuneration and social security | 45 | €2,492 | €22,373 | +€19,881 | +798% |
| Taxes | 450/3 | €2,492 | €22,373 | +€19,881 | +798% |
| Other amounts payable | 47/48 | - | €1,100,351 | +€1.1m | |
| Non-recurring operating income | 76A | €8,200 | - | -€8,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,135 | €13,025 | +€890 | +7.3% |
| Other operating charges | 640/8 | €1,434 | €1,629 | +€195 | +13.6% |
| Non-recurring operating charges | 66A | - | €8,736 | +€8,736 | |
| Gross operating margin | 9900 | €36,945 | €29,976 | -€6,970 | -18.9% |
| Operating profit (loss) | 9901 | €23,376 | €6,586 | -€16,790 | -71.8% |
| Financial income | 75/76B | €49,940 | €124,836 | +€74,896 | +150% |
| Recurring financial income | 75 | €49,940 | €124,836 | +€74,896 | +150% |
| Financial charges | 65/66B | €5,457 | €870 | -€4,587 | -84.0% |
| Recurring financial charges | 65 | €5,457 | €870 | -€4,587 | -84.0% |
| Profit (loss) for the period before taxes | 9903 | €67,859 | €130,552 | +€62,693 | +92.4% |
| Income taxes | 67/77 | €14,079 | €43,365 | +€29,285 | +208% |
| Profit (loss) for the period | 9904 | €53,780 | €87,187 | +€33,407 | +62.1% |
| Profit (loss) for the period to be appropriated | 9905 | €53,780 | €87,187 | +€33,407 | +62.1% |
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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 8 November 2026 via checked.be.