DELTA ADVICE: 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.
DELTA ADVICE
Largest movements
- Cash -€271,295
down €271,295 (-46.3%), from €585,972 to €314,676
mainly Advances received (-€276,334) and Current investments (-€149,507)
- Current investments +€149,507
up €149,507 (+148.8%), from €100,493 to €250,000
- Tangible fixed assets -€131,256
down €131,256 (-89.6%), from €146,439 to €15,183
of which Land and buildings: -€144,226
- Receivables within one year -€17,982
down €17,982 (-72.9%), from €24,663 to €6,681
of which Trade receivables: -€14,325
- Advances received -€276,334
no longer reported in 2025 (was €276,334)
- Reserves +€138,571
up €138,571 (+62.3%), from €222,558 to €361,129
- Trade debts -€134,833
down €134,833 (-47.3%), from €285,050 to €150,217
- Tax, wage and social debts +€26,247
up €26,247 (+281.5%), from €9,323 to €35,570
- Other debts -€20,539
down €20,539 (-46.7%), from €43,936 to €23,397
- Financial income +€80,064
new in 2025: €80,064
- Financial charges +€43,466
up €43,466 (+456.3%), from €9,525 to €52,990
- Gross operating margin +€31,194
up €31,194 (+28.2%), from €110,628 to €141,822
- Depreciation -€5,820
down €5,820 (-67.3%), from €8,650 to €2,830
- Taxes -€3,666
down €3,666 (-11.9%), from €30,699 to €27,033
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 | €860,063 | €588,914 | -€271,149 | -31.5% |
| Fixed assets | 21/28 | €146,439 | €15,183 | -€131,256 | -89.6% |
| Tangible fixed assets | 22/27 | €146,439 | €15,183 | -€131,256 | -89.6% |
| Land and buildings | 22 | €144,226 | - | -€144,226 | |
| Furniture and vehicles | 24 | €2,213 | €15,183 | +€12,970 | +586.1% |
| Current assets | 29/58 | €713,624 | €573,731 | -€139,893 | -19.6% |
| Amounts receivable within one year | 40/41 | €24,663 | €6,681 | -€17,982 | -72.9% |
| Trade receivables | 40 | €21,007 | €6,681 | -€14,325 | -68.2% |
| Other amounts receivable | 41 | €3,657 | - | -€3,657 | |
| Current investments | 50/53 | €100,493 | €250,000 | +€149,507 | +148.8% |
| Cash at bank and in hand | 54/58 | €585,972 | €314,676 | -€271,295 | -46.3% |
| Deferred charges and accrued income | 490/1 | €2,495 | €2,373 | -€122 | -4.9% |
| Total equity and liabilities | 10/49 | €860,063 | €588,914 | -€271,149 | -31.5% |
| Equity | 10/15 | €241,158 | €379,729 | +€138,571 | +57.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €222,558 | €361,129 | +€138,571 | +62.3% |
| Distributable reserves | 133 | €222,558 | €361,129 | +€138,571 | +62.3% |
| Amounts payable | 17/49 | €618,904 | €209,184 | -€409,720 | -66.2% |
| Amounts payable within one year | 42/48 | €618,904 | €209,184 | -€409,720 | -66.2% |
| Current portion of amounts payable after more than one year | 42 | €4,262 | - | -€4,262 | |
| Trade debts | 44 | €285,050 | €150,217 | -€134,833 | -47.3% |
| Suppliers | 440/4 | €285,050 | €150,217 | -€134,833 | -47.3% |
| Advances received on contracts in progress | 46 | €276,334 | - | -€276,334 | |
| Taxes, remuneration and social security | 45 | €9,323 | €35,570 | +€26,247 | +281.5% |
| Taxes | 450/3 | €9,323 | €35,570 | +€26,247 | +281.5% |
| Other amounts payable | 47/48 | €43,936 | €23,397 | -€20,539 | -46.7% |
| Non-recurring operating income | 76A | - | €117,248 | +€117,248 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,650 | €2,830 | -€5,820 | -67.3% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €110,628 | €141,822 | +€31,194 | +28.2% |
| Operating profit (loss) | 9901 | €101,529 | €138,530 | +€37,001 | +36.4% |
| Financial income | 75/76B | - | €80,064 | +€80,064 | |
| Recurring financial income | 75 | - | €80,064 | +€80,064 | |
| Financial charges | 65/66B | €9,525 | €52,990 | +€43,466 | +456.3% |
| Recurring financial charges | 65 | €9,525 | €52,990 | +€43,466 | +456.3% |
| Profit (loss) for the period before taxes | 9903 | €92,004 | €165,604 | +€73,600 | +80.0% |
| Income taxes | 67/77 | €30,699 | €27,033 | -€3,666 | -11.9% |
| Profit (loss) for the period | 9904 | €61,305 | €138,571 | +€77,266 | +126.0% |
| Profit (loss) for the period to be appropriated | 9905 | €61,305 | €138,571 | +€77,266 | +126.0% |
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 6 October 2026 via checked.be.