DELTA MODERN: 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 MODERN
Largest movements
- Receivables within one year +€422,066
up €422,066 (+566%), from €74,585 to €496,650
of which Trade receivables: +€377,533
- Cash -€190,105
down €190,105 (-60.6%), from €313,638 to €123,533
mainly Receivables within one year (-€422,066) and Investment in fixed assets (net) (-€29,174)
- Tangible fixed assets +€12,126
up €12,126 (+34.2%), from €35,485 to €47,611
of which Furniture and vehicles: +€16,871
- Trade debts +€102,385
up €102,385 (+43.7%), from €234,544 to €336,929
of which Suppliers: +€135,771
- Profit (loss) carried forward +€66,791
up €66,791 (+63.4%), from €105,304 to €172,095
- Tax, wage and social debts +€59,915
up €59,915 (+139%), from €43,020 to €102,935
of which Taxes: +€57,553
- Other debts +€20,407
up €20,407 (+56.9%), from €35,840 to €56,248
- Gross operating margin +€51,130
up €51,130 (+60.7%), from €84,165 to €135,294
- Staff costs +€22,225
new in 2026: €22,225
- Taxes +€8,573
up €8,573 (+43.9%), from €19,545 to €28,117
- Depreciation +€7,004
up €7,004 (+69.7%), from €10,044 to €17,048
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €423,708 | €673,206 | +€249,498 | +58.9% |
| Fixed assets | 21/28 | €35,485 | €47,611 | +€12,126 | +34.2% |
| Tangible fixed assets | 22/27 | €35,485 | €47,611 | +€12,126 | +34.2% |
| Plant, machinery and equipment | 23 | €13,840 | €9,095 | -€4,745 | -34.3% |
| Furniture and vehicles | 24 | €21,645 | €38,516 | +€16,871 | +77.9% |
| Current assets | 29/58 | €388,223 | €625,595 | +€237,373 | +61.1% |
| Amounts receivable within one year | 40/41 | €74,585 | €496,650 | +€422,066 | +566% |
| Trade receivables | 40 | €54,597 | €432,130 | +€377,533 | +691% |
| Other amounts receivable | 41 | €19,988 | €64,521 | +€44,533 | +223% |
| Cash at bank and in hand | 54/58 | €313,638 | €123,533 | -€190,105 | -60.6% |
| Deferred charges and accrued income | 490/1 | - | €5,412 | +€5,412 | |
| Total equity and liabilities | 10/49 | €423,708 | €673,206 | +€249,498 | +58.9% |
| Equity | 10/15 | €110,304 | €177,095 | +€66,791 | +60.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,304 | €172,095 | +€66,791 | +63.4% |
| Amounts payable | 17/49 | €313,404 | €496,111 | +€182,708 | +58.3% |
| Amounts payable within one year | 42/48 | €313,404 | €496,111 | +€182,708 | +58.3% |
| Trade debts | 44 | €234,544 | €336,929 | +€102,385 | +43.7% |
| Suppliers | 440/4 | €201,158 | €336,929 | +€135,771 | +67.5% |
| Bills of exchange payable | 441 | €33,386 | - | -€33,386 | |
| Taxes, remuneration and social security | 45 | €43,020 | €102,935 | +€59,915 | +139% |
| Taxes | 450/3 | €19,545 | €77,097 | +€57,553 | +294% |
| Remuneration and social security | 454/9 | €23,475 | €25,838 | +€2,363 | +10.1% |
| Other amounts payable | 47/48 | €35,840 | €56,248 | +€20,407 | +56.9% |
| Remuneration, social security and pensions | 62 | - | €22,225 | +€22,225 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,044 | €17,048 | +€7,004 | +69.7% |
| Other operating charges | 640/8 | €1,771 | €896 | -€875 | -49.4% |
| Gross operating margin | 9900 | €84,165 | €135,294 | +€51,130 | +60.7% |
| Operating profit (loss) | 9901 | €72,350 | €95,125 | +€22,775 | +31.5% |
| Financial income | 75/76B | €809 | €406 | -€404 | -49.9% |
| Recurring financial income | 75 | €809 | €406 | -€404 | -49.9% |
| Financial charges | 65/66B | €401 | €622 | +€221 | +55.2% |
| Recurring financial charges | 65 | €401 | €622 | +€221 | +55.2% |
| Profit (loss) for the period before taxes | 9903 | €72,758 | €94,908 | +€22,150 | +30.4% |
| Income taxes | 67/77 | €19,545 | €28,117 | +€8,573 | +43.9% |
| Profit (loss) for the period | 9904 | €53,213 | €66,791 | +€13,578 | +25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,213 | €66,791 | +€13,578 | +25.5% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.