DELOBELLE MATHIEU: 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.
DELOBELLE MATHIEU
Largest movements
- Financial fixed assets +€1.7m
up €1.7m (+244%), from €682,638 to €2.4m
- Cash +€89,642
up €89,642 (+865%), from €10,361 to €100,003
mainly Other debts (+€907,758) and Debts after one year (+€724,155)
- Other debts +€907,758
up €907,758 (+613%), from €148,111 to €1.1m
- Debts after one year +€724,155
new in 2025: €724,155
- Current portion of long-term debt +€108,845
new in 2025: €108,845
- Reserves +€26,037
up €26,037 (+5.0%), from €524,103 to €550,140
- Financial charges +€774
up €774 (+6.3%), from €12,207 to €12,981
- Gross operating margin -€502
down €502 (-1.0%), from €49,857 to €49,354
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 | €703,931 | €2,480,124 | +€1.8m | +252% |
| Fixed assets | 21/28 | €684,588 | €2,351,177 | +€1.7m | +243% |
| Tangible fixed assets | 22/27 | €1,950 | €1,147 | -€803 | -41.2% |
| Land and buildings | 22 | €174 | €87 | -€87 | -50.0% |
| Furniture and vehicles | 24 | €1,776 | €1,060 | -€716 | -40.3% |
| Financial fixed assets | 28 | €682,638 | €2,350,030 | +€1.7m | +244% |
| Current assets | 29/58 | €19,343 | €128,946 | +€109,603 | +567% |
| Amounts receivable within one year | 40/41 | €8,982 | €28,031 | +€19,049 | +212% |
| Trade receivables | 40 | €5,445 | €24,200 | +€18,755 | +344% |
| Other amounts receivable | 41 | €3,537 | €3,831 | +€294 | +8.3% |
| Cash at bank and in hand | 54/58 | €10,361 | €100,003 | +€89,642 | +865% |
| Deferred charges and accrued income | 490/1 | - | €912 | +€912 | |
| Total equity and liabilities | 10/49 | €703,931 | €2,480,124 | +€1.8m | +252% |
| Equity | 10/15 | €549,103 | €575,140 | +€26,037 | +4.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €524,103 | €550,140 | +€26,037 | +5.0% |
| Distributable reserves | 133 | €524,103 | €550,140 | +€26,037 | +5.0% |
| Amounts payable | 17/49 | €154,828 | €1,904,984 | +€1.8m | +1,130% |
| Amounts payable after more than one year | 17 | - | €724,155 | +€724,155 | |
| Financial debts | 170/4 | - | €724,155 | +€724,155 | |
| Amounts payable within one year | 42/48 | €154,728 | €1,168,621 | +€1.0m | +655% |
| Current portion of amounts payable after more than one year | 42 | - | €108,845 | +€108,845 | |
| Trade debts | 44 | €224 | €18 | -€205 | -91.8% |
| Suppliers | 440/4 | €224 | €18 | -€205 | -91.8% |
| Taxes, remuneration and social security | 45 | €6,393 | €3,888 | -€2,505 | -39.2% |
| Taxes | 450/3 | €6,393 | €3,888 | -€2,505 | -39.2% |
| Other amounts payable | 47/48 | €148,111 | €1,055,870 | +€907,758 | +613% |
| Accrued charges and deferred income | 492/3 | €100 | €12,208 | +€12,108 | +12,108% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €774 | €803 | +€28 | +3.7% |
| Other operating charges | 640/8 | €744 | €715 | -€28 | -3.8% |
| Gross operating margin | 9900 | €49,857 | €49,354 | -€502 | -1.0% |
| Operating profit (loss) | 9901 | €48,339 | €47,836 | -€502 | -1.0% |
| Financial charges | 65/66B | €12,207 | €12,981 | +€774 | +6.3% |
| Recurring financial charges | 65 | €12,207 | €12,981 | +€774 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €36,131 | €34,855 | -€1,276 | -3.5% |
| Income taxes | 67/77 | €9,113 | €8,819 | -€294 | -3.2% |
| Profit (loss) for the period | 9904 | €27,019 | €26,037 | -€982 | -3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,019 | €26,037 | -€982 | -3.6% |
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 21 October 2026 via checked.be.