DELREZ Yannick: 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.
DELREZ Yannick
Largest movements
- Tangible fixed assets +€78,469
up €78,469 (+1,036%), from €7,574 to €86,043
of which Furniture and vehicles: +€60,487
- Cash +€72,940
up €72,940 (+81.1%), from €89,914 to €162,854
mainly Net result for the year (+€65,890) and Stocks and contracts (+€43,839)
- Stocks and contracts -€43,839
no longer reported in 2025 (was €43,839)
- Receivables within one year +€9,098
up €9,098 (+13.7%), from €66,568 to €75,666
of which Trade receivables: +€5,620
- Reserves +€65,890
up €65,890 (+62.7%), from €105,103 to €170,994
- Debts after one year +€38,408
new in 2025: €38,408
- Current portion of long-term debt +€10,565
new in 2025: €10,565
- Other debts +€5,950
up €5,950 (+8.4%), from €70,951 to €76,901
- Trade debts -€5,604
down €5,604 (-45.0%), from €12,460 to €6,856
- Gross operating margin +€21,365
up €21,365 (+25.0%), from €85,437 to €106,803
- Depreciation +€13,498
up €13,498 (+245%), from €5,516 to €19,014
- Financial income +€3,685
up €3,685 (+90.4%), from €4,078 to €7,764
of which Non-recurring financial income: +€3,218
- Staff costs +€2,553
up €2,553 (+30.5%), from €8,370 to €10,923
- Taxes +€1,937
up €1,937 (+12.9%), from €15,072 to €17,008
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 | €207,896 | €324,962 | +€117,066 | +56.3% |
| Fixed assets | 21/28 | €7,574 | €86,043 | +€78,469 | +1,036% |
| Tangible fixed assets | 22/27 | €7,574 | €86,043 | +€78,469 | +1,036% |
| Plant, machinery and equipment | 23 | €2,413 | €20,395 | +€17,982 | +745% |
| Furniture and vehicles | 24 | €5,161 | €65,648 | +€60,487 | +1,172% |
| Current assets | 29/58 | €200,322 | €238,919 | +€38,597 | +19.3% |
| Stocks and contracts in progress | 3 | €43,839 | - | -€43,839 | |
| Contracts in progress | 37 | €43,839 | - | -€43,839 | |
| Amounts receivable within one year | 40/41 | €66,568 | €75,666 | +€9,098 | +13.7% |
| Trade receivables | 40 | €55,440 | €61,060 | +€5,620 | +10.1% |
| Other amounts receivable | 41 | €11,128 | €14,606 | +€3,478 | +31.3% |
| Cash at bank and in hand | 54/58 | €89,914 | €162,854 | +€72,940 | +81.1% |
| Deferred charges and accrued income | 490/1 | - | €399 | +€399 | |
| Total equity and liabilities | 10/49 | €207,896 | €324,962 | +€117,066 | +56.3% |
| Equity | 10/15 | €123,703 | €189,594 | +€65,890 | +53.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €105,103 | €170,994 | +€65,890 | +62.7% |
| Distributable reserves | 133 | €105,103 | €170,994 | +€65,890 | +62.7% |
| Amounts payable | 17/49 | €84,193 | €135,369 | +€51,176 | +60.8% |
| Amounts payable after more than one year | 17 | - | €38,408 | +€38,408 | |
| Financial debts | 170/4 | - | €38,408 | +€38,408 | |
| Amounts payable within one year | 42/48 | €84,193 | €96,961 | +€12,768 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | - | €10,565 | +€10,565 | |
| Trade debts | 44 | €12,460 | €6,856 | -€5,604 | -45.0% |
| Suppliers | 440/4 | €12,460 | €6,856 | -€5,604 | -45.0% |
| Taxes, remuneration and social security | 45 | €782 | €2,639 | +€1,857 | +238% |
| Taxes | 450/3 | - | €8 | +€8 | |
| Remuneration and social security | 454/9 | €782 | €2,631 | +€1,849 | +237% |
| Other amounts payable | 47/48 | €70,951 | €76,901 | +€5,950 | +8.4% |
| Remuneration, social security and pensions | 62 | €8,370 | €10,923 | +€2,553 | +30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,516 | €19,014 | +€13,498 | +245% |
| Other operating charges | 640/8 | €1,286 | €619 | -€666 | -51.8% |
| Gross operating margin | 9900 | €85,437 | €106,803 | +€21,365 | +25.0% |
| Operating profit (loss) | 9901 | €70,266 | €76,247 | +€5,981 | +8.5% |
| Financial income | 75/76B | €4,078 | €7,764 | +€3,685 | +90.4% |
| Recurring financial income | 75 | €3,937 | €4,405 | +€467 | +11.9% |
| Non-recurring financial income | 76B | €141 | €3,359 | +€3,218 | +2,283% |
| Financial charges | 65/66B | €2,009 | €1,113 | -€897 | -44.6% |
| Recurring financial charges | 65 | €2,009 | €1,113 | -€897 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | €72,335 | €82,899 | +€10,563 | +14.6% |
| Income taxes | 67/77 | €15,072 | €17,008 | +€1,937 | +12.9% |
| Profit (loss) for the period | 9904 | €57,264 | €65,890 | +€8,627 | +15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €57,264 | €65,890 | +€8,627 | +15.1% |
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 21 October 2026 via checked.be.