DELSON: what changed
Two fiscal 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.
DELSON
Largest movements
- Tangible fixed assets +€22,330
up €22,330 (+14.0%), from €159,833 to €182,163
of which Furniture and vehicles: +€30,122
- Cash -€13,126
down €13,126 (-15.7%), from €83,444 to €70,318
mainly Investment in fixed assets (net) (-€36,129) and Contributions, distributions and other (-€11,000)
- Reserves +€55,138
up €55,138 (+36.8%), from €150,033 to €205,171
of which Distributable reserves: +€55,138
- Profit (loss) carried forward -€36,420
down €36,420 (-100.0%), from €36,420 to €0
- Debts after one year -€5,184
down €5,184 (-9.8%), from €53,018 to €47,834
- Other debts -€3,926
down €3,926 (-22.9%), from €17,129 to €13,202
- Depreciation +€5,296
up €5,296 (+62.3%), from €8,503 to €13,799
- Gross operating margin +€1,873
up €1,873 (+3.4%), from €55,578 to €57,451
- Other operating charges +€854
up €854 (+112.3%), from €760 to €1,615
- Taxes -€634
down €634 (-5.3%), from €11,969 to €11,335
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 | €278,778 | €289,168 | +€10,390 | +3.7% |
| Fixed assets | 21/28 | €159,923 | €182,253 | +€22,330 | +14.0% |
| Tangible fixed assets | 22/27 | €159,833 | €182,163 | +€22,330 | +14.0% |
| Land and buildings | 22 | €158,018 | €150,260 | -€7,758 | -4.9% |
| Plant, machinery and equipment | 23 | €34 | €0 | -€34 | -100.0% |
| Furniture and vehicles | 24 | €1,781 | €31,903 | +€30,122 | +1691.6% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €118,856 | €106,915 | -€11,941 | -10.0% |
| Stocks and contracts in progress | 3 | €18,560 | €17,503 | -€1,057 | -5.7% |
| Stocks | 30/36 | €18,560 | €17,503 | -€1,057 | -5.7% |
| Amounts receivable within one year | 40/41 | €16,214 | €18,493 | +€2,279 | +14.1% |
| Trade receivables | 40 | €11,845 | €15,091 | +€3,246 | +27.4% |
| Other amounts receivable | 41 | €4,368 | €3,402 | -€967 | -22.1% |
| Cash at bank and in hand | 54/58 | €83,444 | €70,318 | -€13,126 | -15.7% |
| Deferred charges and accrued income | 490/1 | €638 | €602 | -€36 | -5.7% |
| Total equity and liabilities | 10/49 | €278,778 | €289,168 | +€10,390 | +3.7% |
| Equity | 10/15 | €192,653 | €211,371 | +€18,718 | +9.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €150,033 | €205,171 | +€55,138 | +36.8% |
| Tax-exempt reserves | 132 | €17,500 | €17,500 | = | 0.0% |
| Distributable reserves | 133 | €132,533 | €187,671 | +€55,138 | +41.6% |
| Profit (loss) carried forward | 14 | €36,420 | €0 | -€36,420 | -100.0% |
| Amounts payable | 17/49 | €86,125 | €77,797 | -€8,328 | -9.7% |
| Amounts payable after more than one year | 17 | €53,018 | €47,834 | -€5,184 | -9.8% |
| Financial debts | 170/4 | €53,018 | €47,834 | -€5,184 | -9.8% |
| Amounts payable within one year | 42/48 | €33,107 | €29,963 | -€3,144 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €5,096 | €5,184 | +€88 | +1.7% |
| Trade debts | 44 | €3,731 | €4,449 | +€718 | +19.2% |
| Suppliers | 440/4 | €3,731 | €4,449 | +€718 | +19.2% |
| Taxes, remuneration and social security | 45 | €7,151 | €7,128 | -€23 | -0.3% |
| Taxes | 450/3 | €7,151 | €7,128 | -€23 | -0.3% |
| Other amounts payable | 47/48 | €17,129 | €13,202 | -€3,926 | -22.9% |
| Non-recurring operating income | 76A | - | €413 | +€413 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,503 | €13,799 | +€5,296 | +62.3% |
| Other operating charges | 640/8 | €760 | €1,615 | +€854 | +112.3% |
| Gross operating margin | 9900 | €55,578 | €57,451 | +€1,873 | +3.4% |
| Operating profit (loss) | 9901 | €46,315 | €42,037 | -€4,277 | -9.2% |
| Financial income | 75/76B | €309 | €436 | +€128 | +41.4% |
| Recurring financial income | 75 | €309 | €436 | +€128 | +41.4% |
| Financial charges | 65/66B | €1,415 | €1,421 | +€6 | +0.4% |
| Recurring financial charges | 65 | €1,415 | €1,421 | +€6 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €45,208 | €41,053 | -€4,156 | -9.2% |
| Income taxes | 67/77 | €11,969 | €11,335 | -€634 | -5.3% |
| Profit (loss) for the period | 9904 | €33,239 | €29,718 | -€3,521 | -10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,239 | €29,718 | -€3,521 | -10.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.