Delta Rho: 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 Rho
Largest movements
- Cash -€21,801
down €21,801 (-83.7%), from €26,053 to €4,252
mainly Investment in fixed assets (net) (-€10,338) and Net result for the year (-€4,606)
- Tangible fixed assets +€8,874
up €8,874 (+115%), from €7,692 to €16,566
of which Furniture and vehicles: +€8,816
- Receivables within one year +€3,164
up €3,164 (+95.9%), from €3,300 to €6,464
of which Trade receivables: +€1,963
- Deferred charges and accrued income +€1,209
up €1,209, from €0 to €1,209
- Profit (loss) carried forward -€4,606
down €4,606 (-54.1%), from -€8,521 to -€13,127
- Other debts -€2,716
down €2,716 (-100%), from €2,716 to €0
- Trade debts -€907
down €907 (-75.7%), from €1,199 to €291
- Gross operating margin -€3,367
down €3,367, from €1,371 to -€1,996
- Taxes -€775
down €775 (-56.5%), from €1,372 to €598
- Financial charges -€460
down €460 (-52.7%), from €874 to €413
- Financial income +€460
new in 2025: €460
- Other operating charges -€110
down €110 (-15.5%), from €706 to €596
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 | €37,084 | €28,531 | -€8,553 | -23.1% |
| Fixed assets | 21/28 | €7,732 | €16,606 | +€8,874 | +115% |
| Tangible fixed assets | 22/27 | €7,692 | €16,566 | +€8,874 | +115% |
| Plant, machinery and equipment | 23 | €385 | €1,134 | +€749 | +195% |
| Furniture and vehicles | 24 | €1,224 | €10,041 | +€8,816 | +720% |
| Other tangible fixed assets | 26 | €6,082 | €5,391 | -€691 | -11.4% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €29,353 | €11,925 | -€17,427 | -59.4% |
| Amounts receivable within one year | 40/41 | €3,300 | €6,464 | +€3,164 | +95.9% |
| Trade receivables | 40 | €3,300 | €5,263 | +€1,963 | +59.5% |
| Other amounts receivable | 41 | €0 | €1,202 | +€1,202 | |
| Cash at bank and in hand | 54/58 | €26,053 | €4,252 | -€21,801 | -83.7% |
| Deferred charges and accrued income | 490/1 | €0 | €1,209 | +€1,209 | |
| Total equity and liabilities | 10/49 | €37,084 | €28,531 | -€8,553 | -23.1% |
| Equity | 10/15 | €30,331 | €25,724 | -€4,606 | -15.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €36,351 | €36,351 | = | 0.0% |
| Distributable reserves | 133 | €36,351 | €36,351 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,521 | -€13,127 | -€4,606 | -54.1% |
| Amounts payable | 17/49 | €6,754 | €2,807 | -€3,947 | -58.4% |
| Amounts payable within one year | 42/48 | €6,754 | €2,807 | -€3,947 | -58.4% |
| Trade debts | 44 | €1,199 | €291 | -€907 | -75.7% |
| Suppliers | 440/4 | €1,199 | €291 | -€907 | -75.7% |
| Taxes, remuneration and social security | 45 | €2,839 | €2,516 | -€324 | -11.4% |
| Taxes | 450/3 | €2,839 | €2,516 | -€324 | -11.4% |
| Other amounts payable | 47/48 | €2,716 | €0 | -€2,716 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,503 | €1,464 | -€39 | -2.6% |
| Other operating charges | 640/8 | €706 | €596 | -€110 | -15.5% |
| Gross operating margin | 9900 | €1,371 | -€1,996 | -€3,367 | |
| Operating profit (loss) | 9901 | -€838 | -€4,056 | -€3,218 | -384% |
| Financial income | 75/76B | - | €460 | +€460 | |
| Recurring financial income | 75 | - | €460 | +€460 | |
| Financial charges | 65/66B | €874 | €413 | -€460 | -52.7% |
| Recurring financial charges | 65 | €874 | €413 | -€460 | -52.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,712 | -€4,009 | -€2,297 | -134% |
| Income taxes | 67/77 | €1,372 | €598 | -€775 | -56.5% |
| Profit (loss) for the period | 9904 | -€3,084 | -€4,606 | -€1,523 | -49.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,084 | -€4,606 | -€1,523 | -49.4% |
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 13 October 2026 via checked.be.