DELTA ASSOCIATES: 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 ASSOCIATES
Largest movements
- Tangible fixed assets -€14,307
down €14,307 (-8.4%), from €171,017 to €156,710
of which Furniture and vehicles: -€10,429
- Cash -€4,674
down €4,674 (-100%), from €4,674 to €0
mainly Investment in fixed assets (net) (-€7,629) and Debts after one year (-€7,444)
- Debts after one year -€7,444
down €7,444 (-42.1%), from €17,699 to €10,256
- Current portion of long-term debt -€6,578
down €6,578 (-46.9%), from €14,022 to €7,444
- Other debts -€4,994
down €4,994 (-6.4%), from €78,321 to €73,328
- Profit (loss) carried forward -€2,143
down €2,143 (-67.1%), from €3,193 to €1,050
- Depreciation +€1,514
up €1,514 (+7.4%), from €20,422 to €21,936
- Gross operating margin +€1,075
up €1,075 (+3.8%), from €28,059 to €29,134
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 | €181,978 | €161,819 | -€20,159 | -11.1% |
| Fixed assets | 21/28 | €171,562 | €157,255 | -€14,307 | -8.3% |
| Tangible fixed assets | 22/27 | €171,017 | €156,710 | -€14,307 | -8.4% |
| Land and buildings | 22 | €141,769 | €136,960 | -€4,809 | -3.4% |
| Plant, machinery and equipment | 23 | €3,930 | €4,862 | +€932 | +23.7% |
| Furniture and vehicles | 24 | €25,318 | €14,889 | -€10,429 | -41.2% |
| Financial fixed assets | 28 | €545 | €545 | = | 0.0% |
| Current assets | 29/58 | €10,416 | €4,563 | -€5,852 | -56.2% |
| Cash at bank and in hand | 54/58 | €4,674 | €0 | -€4,674 | -100% |
| Deferred charges and accrued income | 490/1 | €5,742 | €4,563 | -€1,178 | -20.5% |
| Total equity and liabilities | 10/49 | €181,978 | €161,819 | -€20,159 | -11.1% |
| Equity | 10/15 | €71,393 | €69,250 | -€2,143 | -3.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,193 | €1,050 | -€2,143 | -67.1% |
| Amounts payable | 17/49 | €110,585 | €92,569 | -€18,016 | -16.3% |
| Amounts payable after more than one year | 17 | €17,699 | €10,256 | -€7,444 | -42.1% |
| Financial debts | 170/4 | €17,699 | €10,256 | -€7,444 | -42.1% |
| Amounts payable within one year | 42/48 | €92,885 | €82,314 | -€10,572 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €14,022 | €7,444 | -€6,578 | -46.9% |
| Financial debts | 43 | - | €750 | +€750 | |
| Credit institutions | 430/8 | - | €750 | +€750 | |
| Trade debts | 44 | €505 | €650 | +€145 | +28.7% |
| Suppliers | 440/4 | €505 | €650 | +€145 | +28.7% |
| Taxes, remuneration and social security | 45 | €37 | €142 | +€105 | +283% |
| Taxes | 450/3 | €37 | €142 | +€105 | +283% |
| Other amounts payable | 47/48 | €78,321 | €73,328 | -€4,994 | -6.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,422 | €21,936 | +€1,514 | +7.4% |
| Other operating charges | 640/8 | €7,674 | €7,941 | +€267 | +3.5% |
| Gross operating margin | 9900 | €28,059 | €29,134 | +€1,075 | +3.8% |
| Operating profit (loss) | 9901 | -€37 | -€743 | -€706 | -1,920% |
| Financial income | 75/76B | €10 | €0 | -€10 | -100% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -100% |
| Financial charges | 65/66B | €1,555 | €1,400 | -€155 | -9.9% |
| Recurring financial charges | 65 | €1,555 | €1,400 | -€155 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,582 | -€2,143 | -€562 | -35.5% |
| Profit (loss) for the period | 9904 | -€1,582 | -€2,143 | -€562 | -35.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,582 | -€2,143 | -€562 | -35.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.