DELOR STABLES: 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.
DELOR STABLES
Largest movements
- Tangible fixed assets -€47,661
down €47,661 (-23.7%), from €201,241 to €153,580
of which Leasing and similar rights: -€25,833
- Receivables within one year +€47,351
up €47,351 (+153%), from €30,933 to €78,284
- Cash -€32,144
down €32,144 (-42.3%), from €75,959 to €43,815
mainly Receivables within one year (-€47,351) and Debts after one year (-€36,539)
- Stocks and contracts -€21,000
down €21,000 (-73.7%), from €28,500 to €7,500
- Debts after one year -€36,539
down €36,539 (-25.1%), from €145,454 to €108,915
- Reserves -€16,107
down €16,107 (-18.3%), from €88,014 to €71,907
- Other debts +€12,489
up €12,489 (+27.7%), from €45,101 to €57,590
- Profit (loss) carried forward -€10,142
down €10,142 (-34.4%), from -€29,469 to -€39,611
- Trade debts +€8,947
up €8,947 (+82.2%), from €10,884 to €19,831
- Staff costs -€26,781
down €26,781 (-98.5%), from €27,184 to €404
- Gross operating margin +€9,278
up €9,278 (+35.7%), from €25,958 to €35,236
- Depreciation +€5,998
up €5,998 (+17.5%), from €34,287 to €40,285
- Financial charges +€1,817
up €1,817 (+18.2%), from €10,007 to €11,824
- Financial income -€642
down €642 (-99.9%), from €643 to €1
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 | €347,709 | €293,652 | -€54,057 | -15.5% |
| Fixed assets | 21/28 | €210,271 | €162,610 | -€47,661 | -22.7% |
| Tangible fixed assets | 22/27 | €201,241 | €153,580 | -€47,661 | -23.7% |
| Plant, machinery and equipment | 23 | €6,352 | €5,480 | -€872 | -13.7% |
| Furniture and vehicles | 24 | €40,732 | €32,768 | -€7,964 | -19.6% |
| Leasing and similar rights | 25 | €141,166 | €115,332 | -€25,833 | -18.3% |
| Other tangible fixed assets | 26 | €12,991 | - | -€12,991 | |
| Financial fixed assets | 28 | €9,030 | €9,030 | = | 0.0% |
| Current assets | 29/58 | €137,438 | €131,042 | -€6,396 | -4.7% |
| Stocks and contracts in progress | 3 | €28,500 | €7,500 | -€21,000 | -73.7% |
| Stocks | 30/36 | €28,500 | €7,500 | -€21,000 | -73.7% |
| Amounts receivable within one year | 40/41 | €30,933 | €78,284 | +€47,351 | +153% |
| Trade receivables | 40 | €30,933 | €78,284 | +€47,351 | +153% |
| Cash at bank and in hand | 54/58 | €75,959 | €43,815 | -€32,144 | -42.3% |
| Deferred charges and accrued income | 490/1 | €2,046 | €1,443 | -€603 | -29.5% |
| Total equity and liabilities | 10/49 | €347,709 | €293,652 | -€54,057 | -15.5% |
| Equity | 10/15 | €68,545 | €42,296 | -€26,249 | -38.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €88,014 | €71,907 | -€16,107 | -18.3% |
| Tax-exempt reserves | 132 | €88,014 | €71,907 | -€16,107 | -18.3% |
| Profit (loss) carried forward | 14 | -€29,469 | -€39,611 | -€10,142 | -34.4% |
| Provisions and deferred taxes | 16 | €29,338 | €23,969 | -€5,369 | -18.3% |
| Deferred taxes | 168 | €29,338 | €23,969 | -€5,369 | -18.3% |
| Amounts payable | 17/49 | €249,826 | €227,387 | -€22,439 | -9.0% |
| Amounts payable after more than one year | 17 | €145,454 | €108,915 | -€36,539 | -25.1% |
| Financial debts | 170/4 | €145,454 | €108,915 | -€36,539 | -25.1% |
| Amounts payable within one year | 42/48 | €104,372 | €118,472 | +€14,100 | +13.5% |
| Current portion of amounts payable after more than one year | 42 | €40,077 | €36,539 | -€3,538 | -8.8% |
| Trade debts | 44 | €10,884 | €19,831 | +€8,947 | +82.2% |
| Suppliers | 440/4 | €10,884 | €19,831 | +€8,947 | +82.2% |
| Taxes, remuneration and social security | 45 | €8,310 | €4,511 | -€3,798 | -45.7% |
| Taxes | 450/3 | €5,639 | €1,311 | -€4,328 | -76.7% |
| Remuneration and social security | 454/9 | €2,670 | €3,200 | +€530 | +19.8% |
| Other amounts payable | 47/48 | €45,101 | €57,590 | +€12,489 | +27.7% |
| Remuneration, social security and pensions | 62 | €27,184 | €404 | -€26,781 | -98.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,287 | €40,285 | +€5,998 | +17.5% |
| Other operating charges | 640/8 | €14,157 | €14,342 | +€185 | +1.3% |
| Gross operating margin | 9900 | €25,958 | €35,236 | +€9,278 | +35.7% |
| Operating profit (loss) | 9901 | -€49,670 | -€19,795 | +€29,875 | +60.1% |
| Financial income | 75/76B | €643 | €1 | -€642 | -99.9% |
| Recurring financial income | 75 | €643 | €1 | -€642 | -99.9% |
| Financial charges | 65/66B | €10,007 | €11,824 | +€1,817 | +18.2% |
| Recurring financial charges | 65 | €10,007 | €11,824 | +€1,817 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | -€59,034 | -€31,618 | +€27,416 | +46.4% |
| Transfer from deferred taxes | 780 | €2,875 | €5,369 | +€2,494 | +86.7% |
| Profit (loss) for the period | 9904 | -€56,159 | -€26,249 | +€29,910 | +53.3% |
| Transfer from tax-exempt reserves | 789 | €8,625 | €16,107 | +€7,481 | +86.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,534 | -€10,142 | +€37,391 | +78.7% |
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 24 October 2026 via checked.be.