Delta Management Company: 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 Management Company
Largest movements
- Cash -€74,760
down €74,760 (-30.3%), from €246,855 to €172,096
mainly Contributions, distributions and other (-€166,162) and Investment in fixed assets (net) (-€11,286)
- Tangible fixed assets +€3,628
up €3,628 (+11.0%), from €33,001 to €36,629
of which Other tangible fixed assets: +€9,922
- Reserves -€102,489
down €102,489 (-60.6%), from €169,062 to €66,573
of which Distributable reserves: -€102,489
- Other debts +€22,469
up €22,469 (+16.1%), from €139,524 to €161,992
- Tax, wage and social debts +€5,075
up €5,075 (+126.1%), from €4,025 to €9,100
- Accrued charges and deferred income -€4,656
down €4,656 (-100.0%), from €4,656 to €0
- Trade debts +€3,669
up €3,669 (+95.7%), from €3,833 to €7,502
- Gross operating margin -€22,704
down €22,704 (-19.8%), from €114,897 to €92,193
- Taxes -€6,507
down €6,507 (-28.1%), from €23,180 to €16,673
- Financial income -€4,270
down €4,270 (-76.5%), from €5,579 to €1,309
- Financial charges -€4,189
down €4,189 (-83.5%), from €5,017 to €828
- Depreciation +€3,198
up €3,198 (+71.7%), from €4,460 to €7,658
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 | €321,100 | €245,668 | -€75,433 | -23.5% |
| Fixed assets | 21/28 | €33,001 | €36,629 | +€3,628 | +11.0% |
| Tangible fixed assets | 22/27 | €33,001 | €36,629 | +€3,628 | +11.0% |
| Plant, machinery and equipment | 23 | €8,318 | €8,310 | -€8 | -0.1% |
| Furniture and vehicles | 24 | €24,683 | €18,397 | -€6,286 | -25.5% |
| Other tangible fixed assets | 26 | - | €9,922 | +€9,922 | |
| Current assets | 29/58 | €288,099 | €209,039 | -€79,061 | -27.4% |
| Amounts receivable within one year | 40/41 | €39,846 | €36,943 | -€2,903 | -7.3% |
| Trade receivables | 40 | €33,560 | €31,800 | -€1,760 | -5.2% |
| Other amounts receivable | 41 | €6,286 | €5,143 | -€1,143 | -18.2% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €246,855 | €172,096 | -€74,760 | -30.3% |
| Deferred charges and accrued income | 490/1 | €1,398 | €0 | -€1,398 | -100.0% |
| Total equity and liabilities | 10/49 | €321,100 | €245,668 | -€75,433 | -23.5% |
| Equity | 10/15 | €169,062 | €66,573 | -€102,489 | -60.6% |
| Reserves | 13 | €169,062 | €66,573 | -€102,489 | -60.6% |
| Non-distributable reserves | 130/1 | €2,900 | €2,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,900 | €2,900 | = | 0.0% |
| Distributable reserves | 133 | €166,162 | €63,673 | -€102,489 | -61.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €152,038 | €179,095 | +€27,056 | +17.8% |
| Amounts payable within one year | 42/48 | €147,382 | €179,095 | +€31,713 | +21.5% |
| Financial debts | 43 | - | €500 | +€500 | |
| Credit institutions | 430/8 | - | €500 | +€500 | |
| Trade debts | 44 | €3,833 | €7,502 | +€3,669 | +95.7% |
| Suppliers | 440/4 | €3,833 | €7,502 | +€3,669 | +95.7% |
| Taxes, remuneration and social security | 45 | €4,025 | €9,100 | +€5,075 | +126.1% |
| Taxes | 450/3 | €4,025 | €9,100 | +€5,075 | +126.1% |
| Other amounts payable | 47/48 | €139,524 | €161,992 | +€22,469 | +16.1% |
| Accrued charges and deferred income | 492/3 | €4,656 | €0 | -€4,656 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,460 | €7,658 | +€3,198 | +71.7% |
| Other operating charges | 640/8 | €896 | €520 | -€376 | -42.0% |
| Non-recurring operating charges | 66A | - | €4,149 | +€4,149 | |
| Gross operating margin | 9900 | €114,897 | €92,193 | -€22,704 | -19.8% |
| Operating profit (loss) | 9901 | €109,541 | €79,866 | -€29,676 | -27.1% |
| Financial income | 75/76B | €5,579 | €1,309 | -€4,270 | -76.5% |
| Recurring financial income | 75 | €5,579 | €1,309 | -€4,270 | -76.5% |
| Financial charges | 65/66B | €5,017 | €828 | -€4,189 | -83.5% |
| Recurring financial charges | 65 | €5,017 | €828 | -€4,189 | -83.5% |
| Profit (loss) for the period before taxes | 9903 | €110,103 | €80,346 | -€29,757 | -27.0% |
| Income taxes | 67/77 | €23,180 | €16,673 | -€6,507 | -28.1% |
| Profit (loss) for the period | 9904 | €86,923 | €63,673 | -€23,250 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €86,923 | €63,673 | -€23,250 | -26.7% |
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 7 October 2026 via checked.be.