DELRUE & C°: 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.
DELRUE & C°
Largest movements
- Stocks and contracts -€163,110
down €163,110 (-36.0%), from €453,110 to €290,000
- Cash +€158,601
up €158,601 (+541%), from €29,294 to €187,895
mainly Stocks and contracts (+€163,110) and Net result for the year (+€47,531)
- Current investments +€50,000
up €50,000 (+6.7%), from €750,000 to €800,000
- Receivables within one year +€43,950
up €43,950 (+35.0%), from €125,457 to €169,406
of which Other amounts receivable: +€37,679
- Tangible fixed assets -€36,773
down €36,773 (-71.6%), from €51,367 to €14,595
of which Plant, machinery and equipment: -€29,927
- Reserves +€47,531
up €47,531 (+4.3%), from €1.1m to €1.2m
of which Distributable reserves: +€47,531
- Write-downs +€163,110
new in 2025: €163,110
- Depreciation -€50,889
down €50,889 (-86.4%), from €58,867 to €7,977
- Taxes -€27,165
down €27,165 (-61.9%), from €43,896 to €16,731
- Gross operating margin +€25,451
up €25,451 (+6.4%), from €396,487 to €421,938
- Staff costs +€11,550
up €11,550 (+6.5%), from €177,395 to €188,945
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 | €1,411,969 | €1,463,787 | +€51,818 | +3.7% |
| Fixed assets | 21/28 | €51,462 | €14,690 | -€36,773 | -71.5% |
| Tangible fixed assets | 22/27 | €51,367 | €14,595 | -€36,773 | -71.6% |
| Plant, machinery and equipment | 23 | €31,024 | €1,097 | -€29,927 | -96.5% |
| Furniture and vehicles | 24 | €20,343 | €13,498 | -€6,846 | -33.7% |
| Financial fixed assets | 28 | €95 | €95 | = | 0.0% |
| Current assets | 29/58 | €1,360,507 | €1,449,098 | +€88,591 | +6.5% |
| Stocks and contracts in progress | 3 | €453,110 | €290,000 | -€163,110 | -36.0% |
| Stocks | 30/36 | €453,110 | €290,000 | -€163,110 | -36.0% |
| Amounts receivable within one year | 40/41 | €125,457 | €169,406 | +€43,950 | +35.0% |
| Trade receivables | 40 | €124,682 | €130,953 | +€6,270 | +5.0% |
| Other amounts receivable | 41 | €774 | €38,454 | +€37,679 | +4,866% |
| Current investments | 50/53 | €750,000 | €800,000 | +€50,000 | +6.7% |
| Cash at bank and in hand | 54/58 | €29,294 | €187,895 | +€158,601 | +541% |
| Deferred charges and accrued income | 490/1 | €2,647 | €1,796 | -€850 | -32.1% |
| Total equity and liabilities | 10/49 | €1,411,969 | €1,463,787 | +€51,818 | +3.7% |
| Equity | 10/15 | €1,172,373 | €1,219,903 | +€47,531 | +4.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,110,873 | €1,158,403 | +€47,531 | +4.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €1,104,723 | €1,152,253 | +€47,531 | +4.3% |
| Amounts payable | 17/49 | €239,597 | €243,884 | +€4,287 | +1.8% |
| Amounts payable within one year | 42/48 | €228,365 | €233,645 | +€5,280 | +2.3% |
| Trade debts | 44 | €33,240 | €25,330 | -€7,910 | -23.8% |
| Suppliers | 440/4 | €33,240 | €25,330 | -€7,910 | -23.8% |
| Taxes, remuneration and social security | 45 | €61,703 | €67,712 | +€6,009 | +9.7% |
| Taxes | 450/3 | €39,648 | €44,559 | +€4,911 | +12.4% |
| Remuneration and social security | 454/9 | €22,056 | €23,153 | +€1,097 | +5.0% |
| Other amounts payable | 47/48 | €133,421 | €140,603 | +€7,182 | +5.4% |
| Accrued charges and deferred income | 492/3 | €11,232 | €10,239 | -€993 | -8.8% |
| Remuneration, social security and pensions | 62 | €177,395 | €188,945 | +€11,550 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,867 | €7,977 | -€50,889 | -86.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €163,110 | +€163,110 | |
| Other operating charges | 640/8 | €3,764 | €3,901 | +€137 | +3.7% |
| Gross operating margin | 9900 | €396,487 | €421,938 | +€25,451 | +6.4% |
| Operating profit (loss) | 9901 | €156,461 | €58,003 | -€98,458 | -62.9% |
| Financial income | 75/76B | €17,563 | €16,137 | -€1,426 | -8.1% |
| Recurring financial income | 75 | €17,563 | €16,137 | -€1,426 | -8.1% |
| Financial charges | 65/66B | €10,732 | €9,878 | -€854 | -8.0% |
| Recurring financial charges | 65 | €10,732 | €9,878 | -€854 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €163,291 | €64,262 | -€99,030 | -60.6% |
| Transfer from deferred taxes | 780 | €2,406 | - | -€2,406 | |
| Income taxes | 67/77 | €43,896 | €16,731 | -€27,165 | -61.9% |
| Profit (loss) for the period | 9904 | €121,801 | €47,531 | -€74,270 | -61.0% |
| Transfer from tax-exempt reserves | 789 | €7,218 | - | -€7,218 | |
| Profit (loss) for the period to be appropriated | 9905 | €129,019 | €47,531 | -€81,488 | -63.2% |
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 23 October 2026 via checked.be.