DELTA PLUS: 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.
What changed
DELTA PLUS
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€226,577
2024 · €319,580-€93,003
Equity
€1.5m
2024 · €1.3m+€226,577
Cash
€37,711
2024 · €22,549+€15,162
Balance sheet total
€2.6m
2024 · €3.6m-€988,687
Largest movements
Assets
- Stocks and contracts -€1.1m
down €1.1m (-35.1%), from €3.0m to €2.0m
- Receivables within one year +€67,320
up €67,320 (+255%), from €26,450 to €93,770
of which Other amounts receivable: +€68,841
Equity and liabilities
- Short-term financial debts -€1.2m
down €1.2m (-95.5%), from €1.2m to €54,625
- Reserves +€226,577
up €226,577 (+210%), from €108,070 to €334,647
of which Distributable reserves: +€226,577
- Other debts -€35,892
down €35,892 (-6.1%), from €590,098 to €554,206
Income statement
- Gross operating margin -€146,696
down €146,696 (-28.1%), from €521,126 to €374,430
- Financial charges -€54,525
down €54,525 (-60.8%), from €89,718 to €35,193
- Taxes +€13,470
up €13,470 (+19.1%), from €70,438 to €83,908
- Other operating charges -€13,210
down €13,210 (-46.2%), from €28,603 to €15,393
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.
Result 2024
€319,580
Gross operating margin
-€146,696
Depreciation
-€22
Other operating charges
+€13,210
Financial income
-€549
Financial charges
+€54,525
Taxes
-€13,470
Result 2025
€226,577
raises the resultlowers the result
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.
From operations
+€1.2m
Investment
€0
Financing
-€1.2m
Cash 2024
€22,549
From operations (derived)
+€1.2m
Net result for the year
+€226,577
Depreciation
+€13,358
Stocks and contracts
+€1.1m
Receivables within one year
-€67,320
Smaller working-capital items
+€1,818
Trade debts
-€4,797
Other debts
-€35,892
Accrued charges and deferred income
-€6,419
Financing
-€1.2m
Debts after one year
-€29,621
Current portion of long-term debt
+€14,489
Short-term financial debts
-€1.2m
Cash 2025
€37,711
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,555,427 | €2,566,739 | -€988,687 | -27.8% |
| Fixed assets | 21/28 | €482,050 | €468,691 | -€13,358 | -2.8% |
| Tangible fixed assets | 22/27 | €229,938 | €216,579 | -€13,358 | -5.8% |
| Land and buildings | 22 | €229,137 | €216,150 | -€12,987 | -5.7% |
| Furniture and vehicles | 24 | €801 | €429 | -€371 | -46.4% |
| Financial fixed assets | 28 | €252,112 | €252,112 | = | 0.0% |
| Current assets | 29/58 | €3,073,377 | €2,098,048 | -€975,329 | -31.7% |
| Stocks and contracts in progress | 3 | €3,019,425 | €1,961,098 | -€1.1m | -35.1% |
| Stocks | 30/36 | €3,019,425 | €1,961,098 | -€1.1m | -35.1% |
| Amounts receivable within one year | 40/41 | €26,450 | €93,770 | +€67,320 | +255% |
| Trade receivables | 40 | €4,758 | €3,238 | -€1,521 | -32.0% |
| Other amounts receivable | 41 | €21,692 | €90,533 | +€68,841 | +317% |
| Cash at bank and in hand | 54/58 | €22,549 | €37,711 | +€15,162 | +67.2% |
| Deferred charges and accrued income | 490/1 | €4,952 | €5,468 | +€516 | +10.4% |
| Total equity and liabilities | 10/49 | €3,555,427 | €2,566,739 | -€988,687 | -27.8% |
| Equity | 10/15 | €1,310,698 | €1,537,275 | +€226,577 | +17.3% |
| Contributions | 10/11 | €1,084,000 | €1,084,000 | = | 0.0% |
| Capital | 10 | €1,084,000 | €1,084,000 | = | 0.0% |
| Issued capital | 100 | €1,084,000 | €1,084,000 | = | 0.0% |
| Revaluation surpluses | 12 | €118,628 | €118,628 | = | 0.0% |
| Reserves | 13 | €108,070 | €334,647 | +€226,577 | +210% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Distributable reserves | 133 | €95,675 | €322,252 | +€226,577 | +237% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,244,729 | €1,029,465 | -€1.2m | -54.1% |
| Amounts payable after more than one year | 17 | €300,000 | €270,379 | -€29,621 | -9.9% |
| Financial debts | 170/4 | €300,000 | €270,379 | -€29,621 | -9.9% |
| Amounts payable within one year | 42/48 | €1,936,510 | €757,286 | -€1.2m | -60.9% |
| Current portion of amounts payable after more than one year | 42 | - | €14,489 | +€14,489 | |
| Financial debts | 43 | €1,209,983 | €54,625 | -€1.2m | -95.5% |
| Credit institutions | 430/8 | €1,209,983 | €54,625 | -€1.2m | -95.5% |
| Trade debts | 44 | €63,247 | €58,450 | -€4,797 | -7.6% |
| Suppliers | 440/4 | €63,247 | €58,450 | -€4,797 | -7.6% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €73,182 | €75,516 | +€2,334 | +3.2% |
| Taxes | 450/3 | €73,182 | €75,516 | +€2,334 | +3.2% |
| Other amounts payable | 47/48 | €590,098 | €554,206 | -€35,892 | -6.1% |
| Accrued charges and deferred income | 492/3 | €8,219 | €1,800 | -€6,419 | -78.1% |
| Non-recurring operating income | 76A | €2,551 | €0 | -€2,551 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,336 | €13,358 | +€22 | +0.2% |
| Other operating charges | 640/8 | €28,603 | €15,393 | -€13,210 | -46.2% |
| Gross operating margin | 9900 | €521,126 | €374,430 | -€146,696 | -28.1% |
| Operating profit (loss) | 9901 | €479,186 | €345,678 | -€133,508 | -27.9% |
| Financial income | 75/76B | €549 | €0 | -€549 | -100.0% |
| Recurring financial income | 75 | €549 | €0 | -€549 | -100.0% |
| Financial charges | 65/66B | €89,718 | €35,193 | -€54,525 | -60.8% |
| Recurring financial charges | 65 | €89,718 | €35,193 | -€54,525 | -60.8% |
| Profit (loss) for the period before taxes | 9903 | €390,017 | €310,485 | -€79,532 | -20.4% |
| Income taxes | 67/77 | €70,438 | €83,908 | +€13,470 | +19.1% |
| Profit (loss) for the period | 9904 | €319,580 | €226,577 | -€93,003 | -29.1% |
| Profit (loss) for the period to be appropriated | 9905 | €319,580 | €226,577 | -€93,003 | -29.1% |
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 14 October 2026 via checked.be.