DELTA ADVISORY: 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.
DELTA ADVISORY
Largest movements
- Receivables after one year -€88,873
down €88,873 (-53.2%), from €167,105 to €78,232
- Financial fixed assets +€50,000
new in 2025: €50,000
- Cash -€41,816
down €41,816 (-64.4%), from €64,969 to €23,153
mainly Investment in fixed assets (net) (-€50,000) and Receivables within one year (-€35,417)
- Receivables within one year +€35,417
up €35,417 (+199%), from €17,785 to €53,202
of which Other amounts receivable: +€25,192
- Current portion of long-term debt -€29,000
down €29,000 (-74.4%), from €39,000 to €10,000
- Tax, wage and social debts -€12,759
down €12,759 (-93.8%), from €13,596 to €837
- Reserves -€4,700
down €4,700 (-2.4%), from €194,502 to €189,803
- Trade debts -€3,664
down €3,664 (-59.1%), from €6,200 to €2,536
- Accrued charges and deferred income +€2,736
up €2,736 (+1,413%), from €194 to €2,929
- Gross operating margin -€45,115
down €45,115 (-96.3%), from €46,864 to €1,750
- Taxes -€11,793
down €11,793 (-95.9%), from €12,296 to €502
- Other operating charges -€1,200
down €1,200 (-24.8%), from €4,830 to €3,630
- Depreciation -€678
down €678 (-38.0%), from €1,783 to €1,106
- Financial income -€470
no longer reported in 2025 (was €470)
of which Financial income: -€470
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 | €256,492 | €209,105 | -€47,387 | -18.5% |
| Fixed assets | 21/28 | €1,849 | €50,743 | +€48,894 | +2,644% |
| Tangible fixed assets | 22/27 | €1,849 | €743 | -€1,106 | -59.8% |
| Furniture and vehicles | 24 | €1,849 | €743 | -€1,106 | -59.8% |
| Financial fixed assets | 28 | - | €50,000 | +€50,000 | |
| Current assets | 29/58 | €254,643 | €158,361 | -€96,281 | -37.8% |
| Amounts receivable after more than one year | 29 | €167,105 | €78,232 | -€88,873 | -53.2% |
| Other amounts receivable | 291 | €167,105 | €78,232 | -€88,873 | -53.2% |
| Amounts receivable within one year | 40/41 | €17,785 | €53,202 | +€35,417 | +199% |
| Trade receivables | 40 | - | €10,225 | +€10,225 | |
| Other amounts receivable | 41 | €17,785 | €42,978 | +€25,192 | +142% |
| Cash at bank and in hand | 54/58 | €64,969 | €23,153 | -€41,816 | -64.4% |
| Deferred charges and accrued income | 490/1 | €4,784 | €3,774 | -€1,010 | -21.1% |
| Total equity and liabilities | 10/49 | €256,492 | €209,105 | -€47,387 | -18.5% |
| Equity | 10/15 | €197,502 | €192,803 | -€4,700 | -2.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €194,502 | €189,803 | -€4,700 | -2.4% |
| Distributable reserves | 133 | €194,502 | €189,803 | -€4,700 | -2.4% |
| Amounts payable | 17/49 | €58,990 | €16,302 | -€42,687 | -72.4% |
| Amounts payable within one year | 42/48 | €58,796 | €13,373 | -€45,423 | -77.3% |
| Current portion of amounts payable after more than one year | 42 | €39,000 | €10,000 | -€29,000 | -74.4% |
| Trade debts | 44 | €6,200 | €2,536 | -€3,664 | -59.1% |
| Suppliers | 440/4 | €6,200 | €2,536 | -€3,664 | -59.1% |
| Taxes, remuneration and social security | 45 | €13,596 | €837 | -€12,759 | -93.8% |
| Taxes | 450/3 | €13,596 | €837 | -€12,759 | -93.8% |
| Accrued charges and deferred income | 492/3 | €194 | €2,929 | +€2,736 | +1,413% |
| Non-recurring operating income | 76A | - | €1,841 | +€1,841 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,783 | €1,106 | -€678 | -38.0% |
| Other operating charges | 640/8 | €4,830 | €3,630 | -€1,200 | -24.8% |
| Gross operating margin | 9900 | €46,864 | €1,750 | -€45,115 | -96.3% |
| Operating profit (loss) | 9901 | €40,252 | -€2,986 | -€43,237 | |
| Financial income | 75/76B | €470 | - | -€470 | |
| Recurring financial income | 75 | €470 | - | -€470 | |
| Non-recurring financial income | 76B | €470 | - | -€470 | |
| Financial charges | 65/66B | €1,615 | €1,211 | -€403 | -25.0% |
| Recurring financial charges | 65 | €1,615 | €1,211 | -€403 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €39,107 | -€4,197 | -€43,304 | |
| Income taxes | 67/77 | €12,296 | €502 | -€11,793 | -95.9% |
| Profit (loss) for the period | 9904 | €26,812 | -€4,700 | -€31,511 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,812 | -€4,700 | -€31,511 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.