DELO'CONCEPT: 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
DELO'CONCEPT
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€111,471
2024 · -€108,795+€220,267
Equity
€192,724
2024 · €191,253+€1,471
Cash
€1,213
2024 · €812+€401
Balance sheet total
€721,964
2024 · €1.5m-€785,047
Largest movements
Assets
- Stocks and contracts -€799,907
down €799,907 (-56.1%), from €1.4m to €626,339
- Receivables after one year +€48,766
new in 2025: €48,766
- Receivables within one year -€22,127
down €22,127 (-54.4%), from €40,649 to €18,522
Equity and liabilities
- Short-term financial debts -€699,000
down €699,000 (-100%), from €699,000 to €0
- Debts after one year -€214,279
down €214,279 (-36.9%), from €580,194 to €365,914
- Other debts +€110,000
new in 2025: €110,000
- Trade debts +€19,817
up €19,817 (+65.8%), from €30,118 to €49,934
Income statement
- Gross operating margin +€175,649
up €175,649, from -€12,507 to €163,142
- Financial charges -€36,192
down €36,192 (-47.2%), from €76,631 to €40,439
- Other operating charges -€7,413
down €7,413 (-84.7%), from €8,747 to €1,334
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.
Result 2024
-€108,795
Gross operating margin
+€175,649
Depreciation
+€1,050
Other operating charges
+€7,413
Financial income
+€1,103
Financial charges
+€36,192
Taxes
-€1,140
Result 2025
€111,471
raises the resultlowers the result
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.
From operations
+€1.0m
Investment
+€2,260
Financing
-€1.0m
Cash 2024
€812
From operations (derived)
+€1.0m
Net result for the year
+€111,471
Depreciation
+€9,700
Receivables after one year
-€48,766
Stocks and contracts
+€799,907
Receivables within one year
+€22,127
Deferred charges and accrued income
+€220
Trade debts
+€19,817
Other debts
+€110,000
Accrued charges and deferred income
-€3,056
Investment (derived)
+€2,260
Investment in fixed assets (net)
+€2,260
Financing
-€1.0m
Debts after one year
-€214,279
Short-term financial debts
-€699,000
Contributions, distributions and other
-€110,000
Cash 2025
€1,213
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,507,011 | €721,964 | -€785,047 | -52.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €37,551 | €25,591 | -€11,960 | -31.9% |
| Tangible fixed assets | 22/27 | €35,291 | €25,591 | -€9,700 | -27.5% |
| Furniture and vehicles | 24 | €35,291 | €25,591 | -€9,700 | -27.5% |
| Financial fixed assets | 28 | €2,260 | €0 | -€2,260 | -100% |
| Current assets | 29/58 | €1,469,459 | €696,373 | -€773,087 | -52.6% |
| Amounts receivable after more than one year | 29 | - | €48,766 | +€48,766 | |
| Other amounts receivable | 291 | - | €48,766 | +€48,766 | |
| Stocks and contracts in progress | 3 | €1,426,246 | €626,339 | -€799,907 | -56.1% |
| Stocks | 30/36 | €1,426,246 | €626,339 | -€799,907 | -56.1% |
| Amounts receivable within one year | 40/41 | €40,649 | €18,522 | -€22,127 | -54.4% |
| Other amounts receivable | 41 | €40,649 | €18,522 | -€22,127 | -54.4% |
| Cash at bank and in hand | 54/58 | €812 | €1,213 | +€401 | +49.3% |
| Deferred charges and accrued income | 490/1 | €1,752 | €1,533 | -€220 | -12.5% |
| Total equity and liabilities | 10/49 | €1,507,011 | €721,964 | -€785,047 | -52.1% |
| Equity | 10/15 | €191,253 | €192,724 | +€1,471 | +0.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €169,253 | €170,724 | +€1,471 | +0.9% |
| Amounts payable | 17/49 | €1,315,758 | €529,240 | -€786,518 | -59.8% |
| Amounts payable after more than one year | 17 | €580,194 | €365,914 | -€214,279 | -36.9% |
| Other amounts payable | 178/9 | €580,194 | €365,914 | -€214,279 | -36.9% |
| Amounts payable within one year | 42/48 | €729,118 | €159,934 | -€569,183 | -78.1% |
| Financial debts | 43 | €699,000 | €0 | -€699,000 | -100% |
| Credit institutions | 430/8 | €699,000 | €0 | -€699,000 | -100% |
| Trade debts | 44 | €30,118 | €49,934 | +€19,817 | +65.8% |
| Suppliers | 440/4 | €30,118 | €49,934 | +€19,817 | +65.8% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €110,000 | +€110,000 | |
| Accrued charges and deferred income | 492/3 | €6,447 | €3,391 | -€3,056 | -47.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,750 | €9,700 | -€1,050 | -9.8% |
| Other operating charges | 640/8 | €8,747 | €1,334 | -€7,413 | -84.7% |
| Gross operating margin | 9900 | -€12,507 | €163,142 | +€175,649 | |
| Operating profit (loss) | 9901 | -€32,004 | €152,108 | +€184,112 | |
| Financial income | 75/76B | €0 | €1,103 | +€1,103 | |
| Recurring financial income | 75 | €0 | €1,103 | +€1,103 | |
| Financial charges | 65/66B | €76,631 | €40,439 | -€36,192 | -47.2% |
| Recurring financial charges | 65 | €76,631 | €40,439 | -€36,192 | -47.2% |
| Profit (loss) for the period before taxes | 9903 | -€108,635 | €112,771 | +€221,407 | |
| Income taxes | 67/77 | €160 | €1,300 | +€1,140 | +712% |
| Profit (loss) for the period | 9904 | -€108,795 | €111,471 | +€220,267 | |
| Profit (loss) for the period to be appropriated | 9905 | -€108,795 | €111,471 | +€220,267 |
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 22 October 2026 via checked.be.