DELRUE & C & #176;: what changed
DELRUE & C & #176;
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
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it 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% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.