DELTA CONSTRUCTIONS: 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.
What changed
DELTA CONSTRUCTIONS
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€640,329
2024 · €528,000+€112,329
Equity
€1.2m
2024 · €515,679+€636,625
Cash
€683,121
2024 · €1.2m-€500,242
Balance sheet total
€3.4m
2024 · €3.7m-€348,820
Largest movements
Assets
- Cash -€500,242
down €500,242 (-42.3%), from €1.2m to €683,121
mainly Advances received (-€365,277) and Trade debts (-€291,070)
- Receivables within one year +€100,997
up €100,997 (+14.6%), from €689,720 to €790,717
of which Other amounts receivable: +€291,401
- Current investments +€100,000
up €100,000 (+20.0%), from €500,000 to €600,000
Equity and liabilities
- Profit (loss) carried forward +€766,629
up €766,629 (+341.8%), from €224,319 to €990,947
- Advances received -€365,277
down €365,277 (-37.0%), from €987,475 to €622,198
- Trade debts -€291,070
down €291,070 (-33.6%), from €865,541 to €574,472
- Other debts -€284,900
no longer reported in 2025 (was €284,900)
- Reserves -€126,300
down €126,300 (-95.0%), from €132,900 to €6,600
of which Tax-exempt reserves: -€126,300
Income statement
- Staff costs -€428,105
down €428,105 (-14.5%), from €3.0m to €2.5m
- Gross operating margin -€229,881
down €229,881 (-6.0%), from €3.8m to €3.6m
- Provisions +€63,596
up €63,596 (+1735.2%), from €3,665 to €67,261
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.
Result 2024
€528,000
Gross operating margin
-€229,881
Staff costs
+€428,105
Depreciation
-€1,621
Write-downs
-€17,411
Provisions
-€63,596
Other operating charges
+€3,110
Other operating items
+€1,027
Financial income
+€24,612
Financial charges
-€1,191
Taxes
-€30,824
Result 2025
€640,329
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.
From operations
-€280,212
Investment
-€183,074
Financing
-€36,956
Cash 2024
€1.2m
From operations (derived)
-€280,212
Net result for the year
+€640,329
Depreciation
+€111,110
Stocks and contracts
+€30,814
Receivables within one year
-€100,997
Deferred charges and accrued income
-€9,276
Provisions
+€67,261
Trade debts
-€291,070
Tax, wage and social debts
-€69,635
Advances received
-€365,277
Other debts
-€284,900
Accrued charges and deferred income
-€8,571
Investment (derived)
-€183,074
Investment in fixed assets (net)
-€83,074
Current investments
-€100,000
Financing
-€36,956
Debts after one year
-€40,145
Current portion of long-term debt
+€6,893
Contributions, distributions and other
-€3,703
Cash 2025
€683,121
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,725,856 | €3,377,036 | -€348,820 | -9.4% |
| Formation expenses | 20 | €7,879 | €5,250 | -€2,629 | -33.4% |
| Fixed assets | 21/28 | €1,211,941 | €1,186,533 | -€25,408 | -2.1% |
| Intangible fixed assets | 21 | €11,446 | €13,235 | +€1,789 | +15.6% |
| Tangible fixed assets | 22/27 | €1,162,387 | €1,134,691 | -€27,697 | -2.4% |
| Land and buildings | 22 | €908,062 | €879,985 | -€28,076 | -3.1% |
| Plant, machinery and equipment | 23 | €117,734 | €111,975 | -€5,759 | -4.9% |
| Furniture and vehicles | 24 | €92,632 | €94,798 | +€2,166 | +2.3% |
| Leasing and similar rights | 25 | €38,219 | €43,683 | +€5,464 | +14.3% |
| Other tangible fixed assets | 26 | €5,741 | €4,249 | -€1,491 | -26.0% |
| Financial fixed assets | 28 | €38,108 | €38,608 | +€500 | +1.3% |
| Current assets | 29/58 | €2,506,035 | €2,185,252 | -€320,783 | -12.8% |
| Stocks and contracts in progress | 3 | €112,217 | €81,403 | -€30,814 | -27.5% |
| Stocks | 30/36 | €112,217 | €81,403 | -€30,814 | -27.5% |
| Amounts receivable within one year | 40/41 | €689,720 | €790,717 | +€100,997 | +14.6% |
| Trade receivables | 40 | €664,741 | €474,337 | -€190,404 | -28.6% |
| Other amounts receivable | 41 | €24,979 | €316,380 | +€291,401 | +1166.6% |
| Current investments | 50/53 | €500,000 | €600,000 | +€100,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €1,183,364 | €683,121 | -€500,242 | -42.3% |
| Deferred charges and accrued income | 490/1 | €20,735 | €30,011 | +€9,276 | +44.7% |
| Total equity and liabilities | 10/49 | €3,725,856 | €3,377,036 | -€348,820 | -9.4% |
| Equity | 10/15 | €515,679 | €1,152,305 | +€636,625 | +123.5% |
| Contributions | 10/11 | €66,000 | €66,000 | = | 0.0% |
| Reserves | 13 | €132,900 | €6,600 | -€126,300 | -95.0% |
| Non-distributable reserves | 130/1 | €6,600 | €6,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,600 | €6,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €126,300 | - | -€126,300 | |
| Profit (loss) carried forward | 14 | €224,319 | €990,947 | +€766,629 | +341.8% |
| Investment grants | 15 | €92,461 | €88,757 | -€3,703 | -4.0% |
| Provisions and deferred taxes | 16 | €180,068 | €247,329 | +€67,261 | +37.4% |
| Provisions for liabilities and charges | 160/5 | €180,068 | €247,329 | +€67,261 | +37.4% |
| Other liabilities and charges | 164/5 | €180,068 | €247,329 | +€67,261 | +37.4% |
| Amounts payable | 17/49 | €3,030,108 | €1,977,402 | -€1.1m | -34.7% |
| Amounts payable after more than one year | 17 | €433,017 | €392,871 | -€40,145 | -9.3% |
| Financial debts | 170/4 | €433,017 | €392,871 | -€40,145 | -9.3% |
| Amounts payable within one year | 42/48 | €2,586,411 | €1,582,421 | -€1.0m | -38.8% |
| Current portion of amounts payable after more than one year | 42 | €85,901 | €92,794 | +€6,893 | +8.0% |
| Trade debts | 44 | €865,541 | €574,472 | -€291,070 | -33.6% |
| Suppliers | 440/4 | €865,541 | €574,472 | -€291,070 | -33.6% |
| Advances received on contracts in progress | 46 | €987,475 | €622,198 | -€365,277 | -37.0% |
| Taxes, remuneration and social security | 45 | €362,593 | €292,957 | -€69,635 | -19.2% |
| Taxes | 450/3 | €200,957 | €166,971 | -€33,986 | -16.9% |
| Remuneration and social security | 454/9 | €161,636 | €125,987 | -€35,650 | -22.1% |
| Other amounts payable | 47/48 | €284,900 | - | -€284,900 | |
| Accrued charges and deferred income | 492/3 | €10,681 | €2,110 | -€8,571 | -80.2% |
| Non-recurring operating income | 76A | €18,422 | €36,733 | +€18,311 | +99.4% |
| Remuneration, social security and pensions | 62 | €2,954,823 | €2,526,718 | -€428,105 | -14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,489 | €111,110 | +€1,621 | +1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €17,411 | +€17,411 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €3,665 | €67,261 | +€63,596 | +1735.2% |
| Other operating charges | 640/8 | €23,557 | €20,447 | -€3,110 | -13.2% |
| Non-recurring operating charges | 66A | €3,644 | €2,618 | -€1,027 | -28.2% |
| Gross operating margin | 9900 | €3,831,933 | €3,602,052 | -€229,881 | -6.0% |
| Operating profit (loss) | 9901 | €736,755 | €856,488 | +€119,733 | +16.3% |
| Financial income | 75/76B | €21,778 | €46,390 | +€24,612 | +113.0% |
| Recurring financial income | 75 | €21,778 | €46,390 | +€24,612 | +113.0% |
| Financial charges | 65/66B | €23,288 | €24,480 | +€1,191 | +5.1% |
| Recurring financial charges | 65 | €23,288 | €22,132 | -€1,157 | -5.0% |
| Non-recurring financial charges | 66B | - | €2,348 | +€2,348 | |
| Profit (loss) for the period before taxes | 9903 | €735,245 | €878,398 | +€143,153 | +19.5% |
| Income taxes | 67/77 | €207,245 | €238,069 | +€30,824 | +14.9% |
| Profit (loss) for the period | 9904 | €528,000 | €640,329 | +€112,329 | +21.3% |
| Transfer from tax-exempt reserves | 789 | - | €126,300 | +€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €528,000 | €766,629 | +€238,629 | +45.2% |
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 1 October 2026 via checked.be.