Delta M Group: 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 M Group
Largest movements
- Cash +€452,412
up €452,412 (+841.3%), from €53,775 to €506,188
mainly Debts after one year (+€250,000) and Current portion of long-term debt (+€90,000)
- Stocks and contracts -€83,912
down €83,912 (-6.7%), from €1.2m to €1.2m
- Debts after one year +€250,000
up €250,000 (+55.6%), from €450,000 to €700,000
- Current portion of long-term debt +€90,000
up €90,000 (+20.0%), from €450,000 to €540,000
- Trade debts +€57,603
up €57,603 (+68.2%), from €84,499 to €142,102
- Gross operating margin -€43,196
down €43,196 (-39.7%), from €108,680 to €65,484
- Other operating charges -€42,691
down €42,691 (-82.8%), from €51,565 to €8,874
- Financial charges -€3,570
down €3,570 (-6.5%), from €55,096 to €51,525
- Depreciation -€2,323
no longer reported in 2025 (was €2,323)
- Financial income -€1,176
down €1,176 (-66.0%), from €1,782 to €606
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 | €1,297,459 | €1,692,682 | +€395,224 | +30.5% |
| Current assets | 29/58 | €1,297,459 | €1,692,682 | +€395,224 | +30.5% |
| Stocks and contracts in progress | 3 | €1,243,493 | €1,159,581 | -€83,912 | -6.7% |
| Stocks | 30/36 | €1,243,493 | €1,159,581 | -€83,912 | -6.7% |
| Amounts receivable within one year | 40/41 | - | €12,500 | +€12,500 | |
| Trade receivables | 40 | - | €12,500 | +€12,500 | |
| Cash at bank and in hand | 54/58 | €53,775 | €506,188 | +€452,412 | +841.3% |
| Deferred charges and accrued income | 490/1 | €190 | €14,414 | +€14,224 | +7468.0% |
| Total equity and liabilities | 10/49 | €1,297,459 | €1,692,682 | +€395,224 | +30.5% |
| Equity | 10/15 | €301,178 | €305,473 | +€4,294 | +1.4% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,178 | €5,473 | +€4,294 | +364.5% |
| Amounts payable | 17/49 | €996,281 | €1,387,210 | +€390,929 | +39.2% |
| Amounts payable after more than one year | 17 | €450,000 | €700,000 | +€250,000 | +55.6% |
| Financial debts | 170/4 | €450,000 | €700,000 | +€250,000 | +55.6% |
| Amounts payable within one year | 42/48 | €544,611 | €686,018 | +€141,407 | +26.0% |
| Current portion of amounts payable after more than one year | 42 | €450,000 | €540,000 | +€90,000 | +20.0% |
| Trade debts | 44 | €84,499 | €142,102 | +€57,603 | +68.2% |
| Suppliers | 440/4 | €84,499 | €142,102 | +€57,603 | +68.2% |
| Taxes, remuneration and social security | 45 | €10,111 | €3,915 | -€6,196 | -61.3% |
| Taxes | 450/3 | €10,111 | €3,915 | -€6,196 | -61.3% |
| Accrued charges and deferred income | 492/3 | €1,670 | €1,192 | -€478 | -28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,323 | - | -€2,323 | |
| Other operating charges | 640/8 | €51,565 | €8,874 | -€42,691 | -82.8% |
| Gross operating margin | 9900 | €108,680 | €65,484 | -€43,196 | -39.7% |
| Operating profit (loss) | 9901 | €54,791 | €56,609 | +€1,818 | +3.3% |
| Financial income | 75/76B | €1,782 | €606 | -€1,176 | -66.0% |
| Recurring financial income | 75 | €1,782 | €606 | -€1,176 | -66.0% |
| Financial charges | 65/66B | €55,096 | €51,525 | -€3,570 | -6.5% |
| Recurring financial charges | 65 | €55,096 | €51,525 | -€3,570 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €1,478 | €5,690 | +€4,212 | +285.0% |
| Income taxes | 67/77 | €300 | €1,396 | +€1,096 | +365.2% |
| Profit (loss) for the period | 9904 | €1,178 | €4,294 | +€3,116 | +264.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,178 | €4,294 | +€3,116 | +264.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.