DELSOV: 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.
DELSOV
Largest movements
- Cash +€233,468
up €233,468 (+34.3%), from €679,737 to €913,206
mainly Depreciation (+€229,960) and Current portion of long-term debt (+€162,277)
- Tangible fixed assets -€133,330
down €133,330 (-14.1%), from €942,462 to €809,132
of which Land and buildings: -€107,916
- Stocks and contracts +€117,307
up €117,307 (+33.7%), from €348,286 to €465,593
- Receivables within one year +€84,265
up €84,265 (+19.4%), from €434,485 to €518,750
of which Other amounts receivable: +€47,553
- Current portion of long-term debt +€162,277
up €162,277 (+74.2%), from €218,659 to €380,936
- Other debts +€146,489
up €146,489 (+89.5%), from €163,682 to €310,171
- Debts after one year -€73,716
down €73,716 (-17.4%), from €422,743 to €349,026
- Trade debts +€72,813
up €72,813 (+12.8%), from €570,568 to €643,381
- Gross operating margin -€57,872
down €57,872 (-3.7%), from €1.5m to €1.5m
- Staff costs +€49,501
up €49,501 (+5.2%), from €951,500 to €1.0m
- Taxes -€41,409
down €41,409 (-34.2%), from €121,051 to €79,642
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 | €2,438,054 | €2,746,345 | +€308,290 | +12.6% |
| Fixed assets | 21/28 | €942,462 | €809,132 | -€133,330 | -14.1% |
| Tangible fixed assets | 22/27 | €942,462 | €809,132 | -€133,330 | -14.1% |
| Land and buildings | 22 | €706,000 | €598,083 | -€107,916 | -15.3% |
| Plant, machinery and equipment | 23 | €111,589 | €137,829 | +€26,240 | +23.5% |
| Furniture and vehicles | 24 | €124,873 | €73,220 | -€51,653 | -41.4% |
| Current assets | 29/58 | €1,495,592 | €1,937,212 | +€441,620 | +29.5% |
| Stocks and contracts in progress | 3 | €348,286 | €465,593 | +€117,307 | +33.7% |
| Stocks | 30/36 | €348,286 | €465,593 | +€117,307 | +33.7% |
| Amounts receivable within one year | 40/41 | €434,485 | €518,750 | +€84,265 | +19.4% |
| Trade receivables | 40 | €46,191 | €82,902 | +€36,712 | +79.5% |
| Other amounts receivable | 41 | €388,295 | €435,848 | +€47,553 | +12.2% |
| Cash at bank and in hand | 54/58 | €679,737 | €913,206 | +€233,468 | +34.3% |
| Deferred charges and accrued income | 490/1 | €33,084 | €39,664 | +€6,580 | +19.9% |
| Total equity and liabilities | 10/49 | €2,438,054 | €2,746,345 | +€308,290 | +12.6% |
| Equity | 10/15 | €795,520 | €818,945 | +€23,426 | +2.9% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €670,520 | €693,945 | +€23,426 | +3.5% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,229 | €29,855 | -€5,374 | -15.3% |
| Distributable reserves | 133 | €622,791 | €651,591 | +€28,800 | +4.6% |
| Provisions and deferred taxes | 16 | €18,141 | €15,373 | -€2,767 | -15.3% |
| Deferred taxes | 168 | €18,141 | €15,373 | -€2,767 | -15.3% |
| Amounts payable | 17/49 | €1,624,394 | €1,912,026 | +€287,632 | +17.7% |
| Amounts payable after more than one year | 17 | €422,743 | €349,026 | -€73,716 | -17.4% |
| Financial debts | 170/4 | €422,743 | €349,026 | -€73,716 | -17.4% |
| Amounts payable within one year | 42/48 | €1,164,086 | €1,533,499 | +€369,412 | +31.7% |
| Current portion of amounts payable after more than one year | 42 | €218,659 | €380,936 | +€162,277 | +74.2% |
| Trade debts | 44 | €570,568 | €643,381 | +€72,813 | +12.8% |
| Suppliers | 440/4 | €570,568 | €643,381 | +€72,813 | +12.8% |
| Taxes, remuneration and social security | 45 | €211,177 | €199,010 | -€12,167 | -5.8% |
| Taxes | 450/3 | €91,682 | €21,325 | -€70,356 | -76.7% |
| Remuneration and social security | 454/9 | €119,495 | €177,685 | +€58,189 | +48.7% |
| Other amounts payable | 47/48 | €163,682 | €310,171 | +€146,489 | +89.5% |
| Accrued charges and deferred income | 492/3 | €37,565 | €29,501 | -€8,064 | -21.5% |
| Remuneration, social security and pensions | 62 | €951,500 | €1,001,001 | +€49,501 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €224,485 | €229,960 | +€5,475 | +2.4% |
| Other operating charges | 640/8 | €7,178 | €18,324 | +€11,146 | +155.3% |
| Non-recurring operating charges | 66A | €3,460 | - | -€3,460 | |
| Gross operating margin | 9900 | €1,548,213 | €1,490,341 | -€57,872 | -3.7% |
| Operating profit (loss) | 9901 | €361,591 | €241,056 | -€120,535 | -33.3% |
| Financial income | 75/76B | €22,614 | €24,023 | +€1,409 | +6.2% |
| Recurring financial income | 75 | €22,614 | €24,023 | +€1,409 | +6.2% |
| Financial charges | 65/66B | €29,390 | €28,779 | -€611 | -2.1% |
| Recurring financial charges | 65 | €29,390 | €28,779 | -€611 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €354,815 | €236,300 | -€118,515 | -33.4% |
| Transfer from deferred taxes | 780 | €2,016 | €2,767 | +€752 | +37.3% |
| Income taxes | 67/77 | €121,051 | €79,642 | -€41,409 | -34.2% |
| Profit (loss) for the period | 9904 | €235,779 | €159,426 | -€76,354 | -32.4% |
| Transfer from tax-exempt reserves | 789 | €3,914 | €5,374 | +€1,460 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €239,694 | €164,800 | -€74,894 | -31.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.