Delta HVAC: 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 HVAC
Largest movements
- Receivables within one year +€33,820
up €33,820 (+42.5%), from €79,492 to €113,312
of which Other amounts receivable: +€40,824
- Tangible fixed assets +€24,687
up €24,687 (+356%), from €6,943 to €31,630
of which Plant, machinery and equipment: +€13,180
- Cash +€17,091
up €17,091 (+77.3%), from €22,123 to €39,214
mainly Tax, wage and social debts (+€39,803) and Net result for the year (+€25,044)
- Tax, wage and social debts +€39,803
up €39,803 (+128%), from €31,170 to €70,973
of which Remuneration and social security: +€52,461
- Reserves +€25,044
up €25,044 (+35.1%), from €71,441 to €96,484
- Other debts +€10,340
new in 2025: €10,340
- Staff costs +€348,745
up €348,745 (+3,211%), from €10,860 to €359,606
- Gross operating margin +€301,142
up €301,142 (+282%), from €106,643 to €407,784
- Taxes -€14,044
down €14,044 (-59.4%), from €23,640 to €9,596
- Depreciation +€8,965
up €8,965 (+6,429%), from €139 to €9,105
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 | €108,557 | €185,204 | +€76,647 | +70.6% |
| Fixed assets | 21/28 | €6,943 | €31,630 | +€24,687 | +356% |
| Tangible fixed assets | 22/27 | €6,943 | €31,630 | +€24,687 | +356% |
| Plant, machinery and equipment | 23 | €2,154 | €15,334 | +€13,180 | +612% |
| Furniture and vehicles | 24 | €4,788 | €16,296 | +€11,507 | +240% |
| Current assets | 29/58 | €101,614 | €153,574 | +€51,960 | +51.1% |
| Amounts receivable within one year | 40/41 | €79,492 | €113,312 | +€33,820 | +42.5% |
| Trade receivables | 40 | €25,000 | €17,996 | -€7,004 | -28.0% |
| Other amounts receivable | 41 | €54,492 | €95,316 | +€40,824 | +74.9% |
| Cash at bank and in hand | 54/58 | €22,123 | €39,214 | +€17,091 | +77.3% |
| Deferred charges and accrued income | 490/1 | - | €1,049 | +€1,049 | |
| Total equity and liabilities | 10/49 | €108,557 | €185,204 | +€76,647 | +70.6% |
| Equity | 10/15 | €76,441 | €101,484 | +€25,044 | +32.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €71,441 | €96,484 | +€25,044 | +35.1% |
| Distributable reserves | 133 | €71,441 | €96,484 | +€25,044 | +35.1% |
| Amounts payable | 17/49 | €32,116 | €83,720 | +€51,603 | +161% |
| Amounts payable within one year | 42/48 | €32,116 | €83,720 | +€51,603 | +161% |
| Trade debts | 44 | €947 | €2,407 | +€1,460 | +154% |
| Suppliers | 440/4 | €947 | €2,407 | +€1,460 | +154% |
| Taxes, remuneration and social security | 45 | €31,170 | €70,973 | +€39,803 | +128% |
| Taxes | 450/3 | €24,295 | €11,638 | -€12,658 | -52.1% |
| Remuneration and social security | 454/9 | €6,874 | €59,335 | +€52,461 | +763% |
| Other amounts payable | 47/48 | - | €10,340 | +€10,340 | |
| Remuneration, social security and pensions | 62 | €10,860 | €359,606 | +€348,745 | +3,211% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139 | €9,105 | +€8,965 | +6,429% |
| Other operating charges | 640/8 | €543 | €4,253 | +€3,711 | +684% |
| Gross operating margin | 9900 | €106,643 | €407,784 | +€301,142 | +282% |
| Operating profit (loss) | 9901 | €95,100 | €34,821 | -€60,279 | -63.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €19 | €181 | +€162 | +837% |
| Recurring financial charges | 65 | €19 | €181 | +€162 | +837% |
| Profit (loss) for the period before taxes | 9903 | €95,081 | €34,639 | -€60,441 | -63.6% |
| Income taxes | 67/77 | €23,640 | €9,596 | -€14,044 | -59.4% |
| Profit (loss) for the period | 9904 | €71,441 | €25,044 | -€46,397 | -64.9% |
| Profit (loss) for the period to be appropriated | 9905 | €71,441 | €25,044 | -€46,397 | -64.9% |
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 27 October 2026 via checked.be.