DELPHIC MANAGEMENT: 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.
DELPHIC MANAGEMENT
Largest movements
- Cash -€24,707
down €24,707 (-34.9%), from €70,700 to €45,993
mainly Trade debts (-€22,723) and Receivables within one year (-€8,781)
- Receivables within one year +€8,781
up €8,781 (+170.8%), from €5,143 to €13,924
- Tangible fixed assets -€7,711
down €7,711 (-31.9%), from €24,168 to €16,457
- Trade debts -€22,723
down €22,723 (-100.0%), from €22,730 to €7
- Tax, wage and social debts -€4,422
down €4,422 (-26.1%), from €16,969 to €12,546
of which Taxes: -€8,422
- Reserves +€4,000
up €4,000 (+7.0%), from €57,000 to €61,000
- Gross operating margin -€58,415
down €58,415 (-78.5%), from €74,441 to €16,025
- Taxes -€12,456
down €12,456 (-81.7%), from €15,246 to €2,790
- Depreciation +€7,764
up €7,764 (+866.0%), from €897 to €8,661
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 | €100,010 | €76,732 | -€23,278 | -23.3% |
| Fixed assets | 21/28 | €24,168 | €16,457 | -€7,711 | -31.9% |
| Tangible fixed assets | 22/27 | €24,168 | €16,457 | -€7,711 | -31.9% |
| Furniture and vehicles | 24 | €24,168 | €16,457 | -€7,711 | -31.9% |
| Current assets | 29/58 | €75,842 | €60,276 | -€15,567 | -20.5% |
| Amounts receivable within one year | 40/41 | €5,143 | €13,924 | +€8,781 | +170.8% |
| Trade receivables | 40 | €5,143 | €13,924 | +€8,781 | +170.8% |
| Cash at bank and in hand | 54/58 | €70,700 | €45,993 | -€24,707 | -34.9% |
| Deferred charges and accrued income | 490/1 | - | €358 | +€358 | |
| Total equity and liabilities | 10/49 | €100,010 | €76,732 | -€23,278 | -23.3% |
| Equity | 10/15 | €60,312 | €64,179 | +€3,867 | +6.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €57,000 | €61,000 | +€4,000 | +7.0% |
| Distributable reserves | 133 | €57,000 | €61,000 | +€4,000 | +7.0% |
| Profit (loss) carried forward | 14 | €312 | €179 | -€133 | -42.6% |
| Amounts payable | 17/49 | €39,698 | €12,553 | -€27,146 | -68.4% |
| Amounts payable within one year | 42/48 | €39,698 | €12,553 | -€27,146 | -68.4% |
| Trade debts | 44 | €22,730 | €7 | -€22,723 | -100.0% |
| Suppliers | 440/4 | €22,730 | €7 | -€22,723 | -100.0% |
| Taxes, remuneration and social security | 45 | €16,969 | €12,546 | -€4,422 | -26.1% |
| Taxes | 450/3 | €16,969 | €8,546 | -€8,422 | -49.6% |
| Remuneration and social security | 454/9 | - | €4,000 | +€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €897 | €8,661 | +€7,764 | +866.0% |
| Other operating charges | 640/8 | €936 | €626 | -€310 | -33.2% |
| Gross operating margin | 9900 | €74,441 | €16,025 | -€58,415 | -78.5% |
| Operating profit (loss) | 9901 | €72,608 | €6,739 | -€65,869 | -90.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €50 | €81 | +€31 | +62.3% |
| Recurring financial charges | 65 | €50 | €81 | +€31 | +62.3% |
| Profit (loss) for the period before taxes | 9903 | €72,558 | €6,658 | -€65,900 | -90.8% |
| Income taxes | 67/77 | €15,246 | €2,790 | -€12,456 | -81.7% |
| Profit (loss) for the period | 9904 | €57,312 | €3,867 | -€53,445 | -93.3% |
| Profit (loss) for the period to be appropriated | 9905 | €57,312 | €3,867 | -€53,445 | -93.3% |
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 12 October 2026 via checked.be.