DELOS: what changed
Two fiscal 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.
DELOS
Largest movements
- Receivables within one year +€201,097
up €201,097 (+101.3%), from €198,567 to €399,664
of which Other amounts receivable: +€150,113
- Cash -€24,355
down €24,355 (-67.5%), from €36,063 to €11,708
mainly Contributions, distributions and other (-€362,128) and Receivables within one year (-€201,097)
- Tangible fixed assets -€21,944
down €21,944 (-11.1%), from €197,124 to €175,180
of which Land and buildings: -€18,425
- Other debts +€230,314
up €230,314 (+74.3%), from €309,942 to €540,256
- Reserves -€158,199
down €158,199 (-14.6%), from €1.1m to €921,963
of which Distributable reserves: -€158,199
- Current portion of long-term debt +€50,293
up €50,293 (+231.5%), from €21,720 to €72,014
- Tax, wage and social debts +€36,290
up €36,290 (+115.5%), from €31,419 to €67,709
- Gross operating margin +€135,255
up €135,255 (+66.2%), from €204,347 to €339,602
- Taxes +€48,681
up €48,681 (+100.3%), from €48,546 to €97,227
- Financial charges -€6,510
down €6,510 (-36.1%), from €18,036 to €11,526
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.
Cash bridge derived
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 | €1,621,990 | €1,778,760 | +€156,770 | +9.7% |
| Fixed assets | 21/28 | €1,181,257 | €1,159,040 | -€22,217 | -1.9% |
| Tangible fixed assets | 22/27 | €197,124 | €175,180 | -€21,944 | -11.1% |
| Land and buildings | 22 | €186,801 | €168,376 | -€18,425 | -9.9% |
| Plant, machinery and equipment | 23 | €10,323 | €6,803 | -€3,519 | -34.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €984,133 | €983,860 | -€273 | 0.0% |
| Current assets | 29/58 | €440,733 | €619,720 | +€178,987 | +40.6% |
| Amounts receivable within one year | 40/41 | €198,567 | €399,664 | +€201,097 | +101.3% |
| Trade receivables | 40 | - | €50,984 | +€50,984 | |
| Other amounts receivable | 41 | €198,567 | €348,680 | +€150,113 | +75.6% |
| Current investments | 50/53 | €45,167 | €45,167 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,063 | €11,708 | -€24,355 | -67.5% |
| Deferred charges and accrued income | 490/1 | €160,937 | €163,182 | +€2,245 | +1.4% |
| Total equity and liabilities | 10/49 | €1,621,990 | €1,778,760 | +€156,770 | +9.7% |
| Equity | 10/15 | €1,086,362 | €928,163 | -€158,199 | -14.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,080,162 | €921,963 | -€158,199 | -14.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,080,162 | €921,963 | -€158,199 | -14.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €535,628 | €850,597 | +€314,969 | +58.8% |
| Amounts payable after more than one year | 17 | €128,180 | €143,974 | +€15,794 | +12.3% |
| Financial debts | 170/4 | €128,180 | €143,974 | +€15,794 | +12.3% |
| Amounts payable within one year | 42/48 | €396,839 | €702,734 | +€305,895 | +77.1% |
| Current portion of amounts payable after more than one year | 42 | €21,720 | €72,014 | +€50,293 | +231.5% |
| Financial debts | 43 | €16,204 | €7,627 | -€8,577 | -52.9% |
| Credit institutions | 430/8 | €16,204 | €7,627 | -€8,577 | -52.9% |
| Trade debts | 44 | €17,554 | €15,128 | -€2,426 | -13.8% |
| Suppliers | 440/4 | €17,554 | €15,128 | -€2,426 | -13.8% |
| Taxes, remuneration and social security | 45 | €31,419 | €67,709 | +€36,290 | +115.5% |
| Taxes | 450/3 | €31,419 | €67,709 | +€36,290 | +115.5% |
| Other amounts payable | 47/48 | €309,942 | €540,256 | +€230,314 | +74.3% |
| Accrued charges and deferred income | 492/3 | €10,609 | €3,889 | -€6,720 | -63.3% |
| Remuneration, social security and pensions | 62 | €2,427 | €0 | -€2,427 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,581 | €21,944 | -€637 | -2.8% |
| Other operating charges | 640/8 | €4,063 | €5,161 | +€1,098 | +27.0% |
| Gross operating margin | 9900 | €204,347 | €339,602 | +€135,255 | +66.2% |
| Operating profit (loss) | 9901 | €175,277 | €312,497 | +€137,220 | +78.3% |
| Financial income | 75/76B | €61 | €184 | +€123 | +200.3% |
| Recurring financial income | 75 | €61 | €184 | +€123 | +200.3% |
| Financial charges | 65/66B | €18,036 | €11,526 | -€6,510 | -36.1% |
| Recurring financial charges | 65 | €18,036 | €11,526 | -€6,510 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | €157,302 | €301,156 | +€143,853 | +91.5% |
| Income taxes | 67/77 | €48,546 | €97,227 | +€48,681 | +100.3% |
| Profit (loss) for the period | 9904 | €108,756 | €203,929 | +€95,173 | +87.5% |
| Profit (loss) for the period to be appropriated | 9905 | €108,756 | €203,929 | +€95,173 | +87.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.