Delta Echo: 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 Echo
Largest movements
- Cash +€17,229
up €17,229 (+62.4%), from €27,631 to €44,860
mainly Net result for the year (+€21,811) and Depreciation (+€13,958)
- Tangible fixed assets -€13,958
down €13,958 (-25.0%), from €55,832 to €41,874
- Receivables within one year -€3,437
down €3,437 (-22.2%), from €15,491 to €12,053
of which Other amounts receivable: -€4,383
- Deferred charges and accrued income +€1,786
up €1,786, from €0 to €1,786
- Profit (loss) carried forward +€21,811
new in 2025: €21,811
- Reserves -€9,789
down €9,789 (-18.6%), from €52,565 to €42,776
- Debts after one year -€5,993
down €5,993 (-32.1%), from €18,660 to €12,668
- Tax, wage and social debts -€5,750
down €5,750 (-30.1%), from €19,106 to €13,355
- Other debts +€1,793
new in 2025: €1,793
- Gross operating margin +€13,025
up €13,025 (+41.9%), from €31,110 to €44,136
- Taxes +€1,984
up €1,984 (+43.3%), from €4,577 to €6,561
- Financial charges -€639
down €639 (-39.4%), from €1,621 to €982
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 | €98,953 | €100,573 | +€1,620 | +1.6% |
| Fixed assets | 21/28 | €55,832 | €41,874 | -€13,958 | -25.0% |
| Tangible fixed assets | 22/27 | €55,832 | €41,874 | -€13,958 | -25.0% |
| Furniture and vehicles | 24 | €55,832 | €41,874 | -€13,958 | -25.0% |
| Current assets | 29/58 | €43,121 | €58,699 | +€15,578 | +36.1% |
| Amounts receivable within one year | 40/41 | €15,491 | €12,053 | -€3,437 | -22.2% |
| Trade receivables | 40 | €11,108 | €12,053 | +€945 | +8.5% |
| Other amounts receivable | 41 | €4,383 | €0 | -€4,383 | -100.0% |
| Cash at bank and in hand | 54/58 | €27,631 | €44,860 | +€17,229 | +62.4% |
| Deferred charges and accrued income | 490/1 | €0 | €1,786 | +€1,786 | |
| Total equity and liabilities | 10/49 | €98,953 | €100,573 | +€1,620 | +1.6% |
| Equity | 10/15 | €53,565 | €65,587 | +€12,022 | +22.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €52,565 | €42,776 | -€9,789 | -18.6% |
| Distributable reserves | 133 | €52,565 | €42,776 | -€9,789 | -18.6% |
| Profit (loss) carried forward | 14 | - | €21,811 | +€21,811 | |
| Amounts payable | 17/49 | €45,388 | €34,987 | -€10,402 | -22.9% |
| Amounts payable after more than one year | 17 | €18,660 | €12,668 | -€5,993 | -32.1% |
| Financial debts | 170/4 | €18,660 | €12,668 | -€5,993 | -32.1% |
| Amounts payable within one year | 42/48 | €26,728 | €22,319 | -€4,409 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €5,776 | €5,993 | +€217 | +3.8% |
| Trade debts | 44 | €1,847 | €1,178 | -€668 | -36.2% |
| Suppliers | 440/4 | €1,847 | €1,178 | -€668 | -36.2% |
| Taxes, remuneration and social security | 45 | €19,106 | €13,355 | -€5,750 | -30.1% |
| Taxes | 450/3 | €19,106 | €13,355 | -€5,750 | -30.1% |
| Other amounts payable | 47/48 | - | €1,793 | +€1,793 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,958 | €13,958 | = | 0.0% |
| Other operating charges | 640/8 | €1,172 | €825 | -€347 | -29.6% |
| Gross operating margin | 9900 | €31,110 | €44,136 | +€13,025 | +41.9% |
| Operating profit (loss) | 9901 | €15,981 | €29,353 | +€13,372 | +83.7% |
| Financial income | 75/76B | €6 | €1 | -€6 | -92.2% |
| Recurring financial income | 75 | €6 | €1 | -€6 | -92.2% |
| Financial charges | 65/66B | €1,621 | €982 | -€639 | -39.4% |
| Recurring financial charges | 65 | €1,621 | €982 | -€639 | -39.4% |
| Profit (loss) for the period before taxes | 9903 | €14,366 | €28,371 | +€14,005 | +97.5% |
| Income taxes | 67/77 | €4,577 | €6,561 | +€1,984 | +43.3% |
| Profit (loss) for the period | 9904 | €9,789 | €21,811 | +€12,022 | +122.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,789 | €21,811 | +€12,022 | +122.8% |
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 5 October 2026 via checked.be.