DELPH'IN: 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.
DELPH'IN
Largest movements
- Stocks and contracts +€28,551
up €28,551 (+60.7%), from €47,024 to €75,575
- Financial fixed assets +€11,000
new in 2025: €11,000
- Cash -€7,770
down €7,770 (-39.0%), from €19,900 to €12,130
mainly Net result for the year (-€115,140) and Other debts (-€60,510)
- Receivables within one year -€7,398
down €7,398 (-78.1%), from €9,473 to €2,075
of which Trade receivables: -€4,474
- Debts after one year +€210,000
new in 2025: €210,000
- Profit (loss) carried forward -€115,140
down €115,140 (-525.6%), from -€21,906 to -€137,046
- Other debts -€60,510
down €60,510 (-96.8%), from €62,508 to €1,998
- Trade debts -€28,281
down €28,281 (-81.6%), from €34,645 to €6,364
of which Suppliers: -€25,747
- Tax, wage and social debts +€13,643
new in 2025: €13,643
of which Remuneration and social security: +€8,415
- Staff costs +€64,498
new in 2025: €64,498
- Gross operating margin -€27,301
down €27,301 (-149.3%), from -€18,290 to -€45,591
- Depreciation +€1,403
up €1,403 (+62.9%), from €2,230 to €3,633
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 | €85,334 | €109,724 | +€24,390 | +28.6% |
| Fixed assets | 21/28 | €8,732 | €19,860 | +€11,128 | +127.4% |
| Tangible fixed assets | 22/27 | €8,732 | €8,860 | +€128 | +1.5% |
| Furniture and vehicles | 24 | €2,158 | €1,988 | -€170 | -7.9% |
| Other tangible fixed assets | 26 | €6,574 | €6,872 | +€298 | +4.5% |
| Financial fixed assets | 28 | - | €11,000 | +€11,000 | |
| Current assets | 29/58 | €76,602 | €89,864 | +€13,262 | +17.3% |
| Stocks and contracts in progress | 3 | €47,024 | €75,575 | +€28,551 | +60.7% |
| Stocks | 30/36 | €47,024 | €75,575 | +€28,551 | +60.7% |
| Amounts receivable within one year | 40/41 | €9,473 | €2,075 | -€7,398 | -78.1% |
| Trade receivables | 40 | €6,537 | €2,063 | -€4,474 | -68.4% |
| Other amounts receivable | 41 | €2,936 | €12 | -€2,924 | -99.6% |
| Cash at bank and in hand | 54/58 | €19,900 | €12,130 | -€7,770 | -39.0% |
| Deferred charges and accrued income | 490/1 | €205 | €84 | -€121 | -59.0% |
| Total equity and liabilities | 10/49 | €85,334 | €109,724 | +€24,390 | +28.6% |
| Equity | 10/15 | -€11,906 | -€127,046 | -€115,140 | -967.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,906 | -€137,046 | -€115,140 | -525.6% |
| Amounts payable | 17/49 | €97,240 | €236,770 | +€139,530 | +143.5% |
| Amounts payable after more than one year | 17 | - | €210,000 | +€210,000 | |
| Other amounts payable | 178/9 | - | €210,000 | +€210,000 | |
| Amounts payable within one year | 42/48 | €97,153 | €22,005 | -€75,148 | -77.4% |
| Trade debts | 44 | €34,645 | €6,364 | -€28,281 | -81.6% |
| Suppliers | 440/4 | €32,111 | €6,364 | -€25,747 | -80.2% |
| Bills of exchange payable | 441 | €2,534 | - | -€2,534 | |
| Taxes, remuneration and social security | 45 | - | €13,643 | +€13,643 | |
| Taxes | 450/3 | - | €5,228 | +€5,228 | |
| Remuneration and social security | 454/9 | - | €8,415 | +€8,415 | |
| Other amounts payable | 47/48 | €62,508 | €1,998 | -€60,510 | -96.8% |
| Accrued charges and deferred income | 492/3 | €87 | €4,765 | +€4,678 | +5377.0% |
| Remuneration, social security and pensions | 62 | - | €64,498 | +€64,498 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,230 | €3,633 | +€1,403 | +62.9% |
| Gross operating margin | 9900 | -€18,290 | -€45,591 | -€27,301 | -149.3% |
| Operating profit (loss) | 9901 | -€20,520 | -€113,722 | -€93,202 | -454.2% |
| Financial charges | 65/66B | €1,386 | €1,418 | +€32 | +2.3% |
| Recurring financial charges | 65 | €1,386 | €1,418 | +€32 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | -€21,906 | -€115,140 | -€93,234 | -425.6% |
| Profit (loss) for the period | 9904 | -€21,906 | -€115,140 | -€93,234 | -425.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,906 | -€115,140 | -€93,234 | -425.6% |
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 3 October 2026 via checked.be.