Delphine T: 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.
Delphine T
Largest movements
- Receivables within one year -€31,785
down €31,785 (-20.8%), from €152,933 to €121,147
of which Trade receivables: -€48,639
- Cash -€25,099
down €25,099 (-68.1%), from €36,847 to €11,748
mainly Trade debts (-€63,273) and Debts after one year (-€25,071)
- Tangible fixed assets -€11,020
down €11,020 (-8.1%), from €135,847 to €124,827
of which Other tangible fixed assets: -€10,822
- Trade debts -€63,273
down €63,273 (-88.1%), from €71,810 to €8,537
- Reserves +€26,472
up €26,472 (+30.1%), from €87,871 to €114,343
- Debts after one year -€25,071
down €25,071 (-23.1%), from €108,394 to €83,323
- Tax, wage and social debts -€4,419
down €4,419 (-32.7%), from €13,517 to €9,098
of which Taxes: -€4,570
- Gross operating margin -€8,474
down €8,474 (-14.6%), from €58,236 to €49,763
- Depreciation +€7,009
up €7,009 (+73.6%), from €9,526 to €16,536
- Financial charges -€4,269
down €4,269 (-47.5%), from €8,981 to €4,712
- Taxes -€3,868
down €3,868 (-40.1%), from €9,638 to €5,771
- Financial income +€912
up €912 (+31.7%), from €2,875 to €3,786
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 | €326,894 | €258,971 | -€67,922 | -20.8% |
| Fixed assets | 21/28 | €135,847 | €124,827 | -€11,020 | -8.1% |
| Tangible fixed assets | 22/27 | €135,847 | €124,827 | -€11,020 | -8.1% |
| Plant, machinery and equipment | 23 | €1,715 | €1,517 | -€199 | -11.6% |
| Other tangible fixed assets | 26 | €134,132 | €123,310 | -€10,822 | -8.1% |
| Current assets | 29/58 | €191,047 | €134,144 | -€56,902 | -29.8% |
| Amounts receivable within one year | 40/41 | €152,933 | €121,147 | -€31,785 | -20.8% |
| Trade receivables | 40 | €90,858 | €42,219 | -€48,639 | -53.5% |
| Other amounts receivable | 41 | €62,074 | €78,928 | +€16,854 | +27.2% |
| Cash at bank and in hand | 54/58 | €36,847 | €11,748 | -€25,099 | -68.1% |
| Deferred charges and accrued income | 490/1 | €1,267 | €1,249 | -€18 | -1.4% |
| Total equity and liabilities | 10/49 | €326,894 | €258,971 | -€67,922 | -20.8% |
| Equity | 10/15 | €106,471 | €132,943 | +€26,472 | +24.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €87,871 | €114,343 | +€26,472 | +30.1% |
| Distributable reserves | 133 | €87,871 | €114,343 | +€26,472 | +30.1% |
| Amounts payable | 17/49 | €220,423 | €126,029 | -€94,394 | -42.8% |
| Amounts payable after more than one year | 17 | €108,394 | €83,323 | -€25,071 | -23.1% |
| Financial debts | 170/4 | €108,394 | €83,323 | -€25,071 | -23.1% |
| Amounts payable within one year | 42/48 | €112,029 | €42,706 | -€69,323 | -61.9% |
| Current portion of amounts payable after more than one year | 42 | €26,703 | €25,071 | -€1,632 | -6.1% |
| Trade debts | 44 | €71,810 | €8,537 | -€63,273 | -88.1% |
| Suppliers | 440/4 | €71,810 | €8,537 | -€63,273 | -88.1% |
| Taxes, remuneration and social security | 45 | €13,517 | €9,098 | -€4,419 | -32.7% |
| Taxes | 450/3 | €10,882 | €6,313 | -€4,570 | -42.0% |
| Remuneration and social security | 454/9 | €2,634 | €2,785 | +€151 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,526 | €16,536 | +€7,009 | +73.6% |
| Other operating charges | 640/8 | €435 | €59 | -€376 | -86.4% |
| Gross operating margin | 9900 | €58,236 | €49,763 | -€8,474 | -14.6% |
| Operating profit (loss) | 9901 | €48,275 | €33,168 | -€15,107 | -31.3% |
| Financial income | 75/76B | €2,875 | €3,786 | +€912 | +31.7% |
| Recurring financial income | 75 | €2,875 | €3,786 | +€912 | +31.7% |
| Financial charges | 65/66B | €8,981 | €4,712 | -€4,269 | -47.5% |
| Recurring financial charges | 65 | €8,981 | €4,712 | -€4,269 | -47.5% |
| Profit (loss) for the period before taxes | 9903 | €42,169 | €32,242 | -€9,927 | -23.5% |
| Income taxes | 67/77 | €9,638 | €5,771 | -€3,868 | -40.1% |
| Profit (loss) for the period | 9904 | €32,531 | €26,472 | -€6,059 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €32,531 | €26,472 | -€6,059 | -18.6% |
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 18 October 2026 via checked.be.