DELOCO: 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.
DELOCO
Largest movements
- Current investments +€169,472
up €169,472 (+27.6%), from €614,815 to €784,287
- Cash +€60,900
up €60,900 (+69.4%), from €87,815 to €148,715
mainly Net result for the year (+€402,561) and Depreciation (+€44,588)
- Tangible fixed assets -€43,773
down €43,773 (-3.5%), from €1.3m to €1.2m
of which Land and buildings: -€41,467
- Reserves +€265,017
up €265,017 (+15.0%), from €1.8m to €2.0m
- Tax, wage and social debts -€51,872
down €51,872 (-75.7%), from €68,565 to €16,693
of which Taxes: -€46,538
- Gross operating margin -€119,317
down €119,317 (-17.1%), from €698,865 to €579,548
- Financial charges -€71,038
down €71,038 (-49.6%), from €143,224 to €72,187
- Taxes -€33,078
down €33,078 (-15.3%), from €216,071 to €182,994
- Financial income +€14,382
up €14,382 (+12.6%), from €114,443 to €128,825
of which Non-recurring financial income: +€23,629
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 | €2,279,518 | €2,469,428 | +€189,910 | +8.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,317,048 | €1,283,699 | -€33,350 | -2.5% |
| Tangible fixed assets | 22/27 | €1,253,581 | €1,209,809 | -€43,773 | -3.5% |
| Land and buildings | 22 | €1,208,778 | €1,167,311 | -€41,467 | -3.4% |
| Plant, machinery and equipment | 23 | €2,266 | €1,759 | -€507 | -22.4% |
| Furniture and vehicles | 24 | €2,742 | €3,094 | +€352 | +12.9% |
| Other tangible fixed assets | 26 | €37,644 | €37,644 | = | 0.0% |
| Assets under construction and advance payments | 27 | €2,151 | - | -€2,151 | |
| Financial fixed assets | 28 | €63,467 | €73,890 | +€10,423 | +16.4% |
| Current assets | 29/58 | €962,469 | €1,185,729 | +€223,260 | +23.2% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €150,000 | €150,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €108,529 | €101,870 | -€6,659 | -6.1% |
| Trade receivables | 40 | €4,635 | €745 | -€3,890 | -83.9% |
| Other amounts receivable | 41 | €103,894 | €101,125 | -€2,769 | -2.7% |
| Current investments | 50/53 | €614,815 | €784,287 | +€169,472 | +27.6% |
| Cash at bank and in hand | 54/58 | €87,815 | €148,715 | +€60,900 | +69.4% |
| Deferred charges and accrued income | 490/1 | €1,310 | €858 | -€453 | -34.6% |
| Total equity and liabilities | 10/49 | €2,279,518 | €2,469,428 | +€189,910 | +8.3% |
| Equity | 10/15 | €1,844,453 | €2,109,470 | +€265,017 | +14.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,763,259 | €2,028,276 | +€265,017 | +15.0% |
| Distributable reserves | 133 | €1,763,259 | €2,028,276 | +€265,017 | +15.0% |
| Profit (loss) carried forward | 14 | €62,594 | €62,594 | = | 0.0% |
| Amounts payable | 17/49 | €435,065 | €359,958 | -€75,107 | -17.3% |
| Amounts payable after more than one year | 17 | €260,626 | €244,092 | -€16,534 | -6.3% |
| Financial debts | 170/4 | €260,626 | €244,092 | -€16,534 | -6.3% |
| Amounts payable within one year | 42/48 | €116,954 | €35,315 | -€81,639 | -69.8% |
| Current portion of amounts payable after more than one year | 42 | €39,493 | €16,534 | -€22,959 | -58.1% |
| Trade debts | 44 | €8,896 | €2,089 | -€6,807 | -76.5% |
| Suppliers | 440/4 | €8,896 | €2,089 | -€6,807 | -76.5% |
| Taxes, remuneration and social security | 45 | €68,565 | €16,693 | -€51,872 | -75.7% |
| Taxes | 450/3 | €63,230 | €16,693 | -€46,538 | -73.6% |
| Remuneration and social security | 454/9 | €5,335 | - | -€5,335 | |
| Accrued charges and deferred income | 492/3 | €57,485 | €80,550 | +€23,066 | +40.1% |
| Non-recurring operating income | 76A | - | €588 | +€588 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,840 | €44,588 | -€2,252 | -4.8% |
| Other operating charges | 640/8 | €6,019 | €6,042 | +€24 | +0.4% |
| Gross operating margin | 9900 | €698,865 | €579,548 | -€119,317 | -17.1% |
| Operating profit (loss) | 9901 | €646,006 | €528,917 | -€117,089 | -18.1% |
| Financial income | 75/76B | €114,443 | €128,825 | +€14,382 | +12.6% |
| Recurring financial income | 75 | €79,886 | €70,639 | -€9,247 | -11.6% |
| Non-recurring financial income | 76B | €34,557 | €58,186 | +€23,629 | +68.4% |
| Financial charges | 65/66B | €143,224 | €72,187 | -€71,038 | -49.6% |
| Recurring financial charges | 65 | €143,224 | €72,187 | -€71,038 | -49.6% |
| Profit (loss) for the period before taxes | 9903 | €617,224 | €585,555 | -€31,669 | -5.1% |
| Income taxes | 67/77 | €216,071 | €182,994 | -€33,078 | -15.3% |
| Profit (loss) for the period | 9904 | €401,153 | €402,561 | +€1,408 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €401,153 | €402,561 | +€1,408 | +0.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.