Délos Conseil: 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.
Délos Conseil
Largest movements
- Intangible fixed assets -€153,510
down €153,510 (-25.5%), from €601,674 to €448,164
- Current investments -€75,000
no longer reported in 2025 (was €75,000)
- Cash +€36,649
up €36,649 (+85.6%), from €42,804 to €79,454
mainly Depreciation (+€226,686) and Net result for the year (+€97,922)
- Tangible fixed assets -€30,293
down €30,293 (-3.0%), from €1.0m to €970,181
of which Land and buildings: -€31,033
- Debts after one year -€282,916
down €282,916 (-30.6%), from €925,382 to €642,466
of which Financial debts: -€157,916
- Reserves +€84,922
up €84,922 (+16.8%), from €504,790 to €589,713
of which Tax-exempt reserves: +€84,200
- Trade debts -€24,060
down €24,060 (-16.8%), from €143,499 to €119,439
- Gross operating margin -€77,088
down €77,088 (-8.7%), from €881,526 to €804,439
- Financial charges +€60,515
up €60,515 (+930.2%), from €6,506 to €67,021
- Provisions -€41,479
down €41,479 (-77.2%), from €53,724 to €12,245
- Taxes -€39,131
down €39,131 (-48.9%), from €80,091 to €40,959
- Staff costs +€25,197
up €25,197 (+7.6%), from €329,613 to €354,811
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 | €1,959,991 | €1,755,958 | -€204,033 | -10.4% |
| Fixed assets | 21/28 | €1,602,148 | €1,418,344 | -€183,803 | -11.5% |
| Intangible fixed assets | 21 | €601,674 | €448,164 | -€153,510 | -25.5% |
| Tangible fixed assets | 22/27 | €1,000,474 | €970,181 | -€30,293 | -3.0% |
| Land and buildings | 22 | €912,427 | €881,394 | -€31,033 | -3.4% |
| Furniture and vehicles | 24 | €88,048 | €88,787 | +€740 | +0.8% |
| Current assets | 29/58 | €357,844 | €337,614 | -€20,230 | -5.7% |
| Amounts receivable within one year | 40/41 | €231,354 | €230,811 | -€544 | -0.2% |
| Trade receivables | 40 | €231,354 | €230,811 | -€544 | -0.2% |
| Current investments | 50/53 | €75,000 | - | -€75,000 | |
| Cash at bank and in hand | 54/58 | €42,804 | €79,454 | +€36,649 | +85.6% |
| Deferred charges and accrued income | 490/1 | €8,685 | €27,350 | +€18,665 | +214.9% |
| Total equity and liabilities | 10/49 | €1,959,991 | €1,755,958 | -€204,033 | -10.4% |
| Equity | 10/15 | €554,790 | €639,713 | +€84,922 | +15.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €504,790 | €589,713 | +€84,922 | +16.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Own shares acquired | 1312 | €0 | - | = | |
| Tax-exempt reserves | 132 | €84,200 | €168,400 | +€84,200 | +100.0% |
| Distributable reserves | 133 | €420,590 | €421,313 | +€722 | +0.2% |
| Provisions and deferred taxes | 16 | €53,724 | €65,970 | +€12,245 | +22.8% |
| Provisions for liabilities and charges | 160/5 | €53,724 | €65,970 | +€12,245 | +22.8% |
| Other liabilities and charges | 164/5 | €53,724 | €65,970 | +€12,245 | +22.8% |
| Amounts payable | 17/49 | €1,351,476 | €1,050,276 | -€301,200 | -22.3% |
| Amounts payable after more than one year | 17 | €925,382 | €642,466 | -€282,916 | -30.6% |
| Financial debts | 170/4 | €595,382 | €437,466 | -€157,916 | -26.5% |
| Trade debts | 175 | €330,000 | €205,000 | -€125,000 | -37.9% |
| Amounts payable within one year | 42/48 | €426,094 | €402,208 | -€23,887 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €160,063 | €159,426 | -€638 | -0.4% |
| Trade debts | 44 | €143,499 | €119,439 | -€24,060 | -16.8% |
| Suppliers | 440/4 | €143,499 | €119,439 | -€24,060 | -16.8% |
| Taxes, remuneration and social security | 45 | €107,282 | €110,343 | +€3,061 | +2.9% |
| Taxes | 450/3 | €73,496 | €69,321 | -€4,175 | -5.7% |
| Remuneration and social security | 454/9 | €33,786 | €41,022 | +€7,236 | +21.4% |
| Other amounts payable | 47/48 | €15,250 | €13,000 | -€2,250 | -14.8% |
| Accrued charges and deferred income | 492/3 | - | €5,603 | +€5,603 | |
| Remuneration, social security and pensions | 62 | €329,613 | €354,811 | +€25,197 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €224,867 | €226,686 | +€1,818 | +0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €304 | €304 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €53,724 | €12,245 | -€41,479 | -77.2% |
| Other operating charges | 640/8 | €10,020 | €7,423 | -€2,597 | -25.9% |
| Gross operating margin | 9900 | €881,526 | €804,439 | -€77,088 | -8.7% |
| Operating profit (loss) | 9901 | €262,998 | €202,971 | -€60,027 | -22.8% |
| Financial income | 75/76B | €2,190 | €2,931 | +€741 | +33.8% |
| Recurring financial income | 75 | €2,190 | €2,931 | +€741 | +33.8% |
| Financial charges | 65/66B | €6,506 | €67,021 | +€60,515 | +930.2% |
| Recurring financial charges | 65 | €6,506 | €67,021 | +€60,515 | +930.2% |
| Profit (loss) for the period before taxes | 9903 | €258,682 | €138,881 | -€119,801 | -46.3% |
| Income taxes | 67/77 | €80,091 | €40,959 | -€39,131 | -48.9% |
| Profit (loss) for the period | 9904 | €178,592 | €97,922 | -€80,670 | -45.2% |
| Transfer to tax-exempt reserves | 689 | €84,200 | €84,200 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €94,392 | €13,722 | -€80,670 | -85.5% |
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 10 October 2026 via checked.be.