DELTA SIERRA PROJECTS: 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 SIERRA PROJECTS
Largest movements
- Stocks and contracts +€142,470
up €142,470 (+50.9%), from €280,094 to €422,565
- Receivables within one year +€124,941
up €124,941 (+58.9%), from €212,199 to €337,140
of which Trade receivables: +€74,803
- Cash -€99,060
down €99,060 (-43.4%), from €228,201 to €129,141
mainly Stocks and contracts (-€142,470) and Receivables within one year (-€124,941)
- Trade debts +€178,169
up €178,169 (+54.2%), from €328,563 to €506,732
- Reserves +€63,096
up €63,096 (+74.6%), from €84,622 to €147,718
- Short-term financial debts -€52,200
down €52,200 (-23.8%), from €219,000 to €166,800
- Other debts -€11,484
down €11,484 (-19.8%), from €57,899 to €46,416
- Staff costs +€17,155
up €17,155 (+29.4%), from €58,336 to €75,491
- Gross operating margin -€7,927
down €7,927 (-4.5%), from €175,178 to €167,252
- Taxes -€5,980
down €5,980 (-19.8%), from €30,200 to €24,220
- Depreciation +€3,326
up €3,326 (+377%), from €881 to €4,207
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 | €729,169 | €904,363 | +€175,194 | +24.0% |
| Fixed assets | 21/28 | €7,950 | €10,324 | +€2,373 | +29.9% |
| Tangible fixed assets | 22/27 | €7,950 | €10,324 | +€2,373 | +29.9% |
| Plant, machinery and equipment | 23 | €1,395 | €1,069 | -€326 | -23.4% |
| Furniture and vehicles | 24 | €6,555 | €7,548 | +€993 | +15.1% |
| Other tangible fixed assets | 26 | - | €1,707 | +€1,707 | |
| Current assets | 29/58 | €721,219 | €894,039 | +€172,821 | +24.0% |
| Stocks and contracts in progress | 3 | €280,094 | €422,565 | +€142,470 | +50.9% |
| Stocks | 30/36 | €280,094 | €422,565 | +€142,470 | +50.9% |
| Amounts receivable within one year | 40/41 | €212,199 | €337,140 | +€124,941 | +58.9% |
| Trade receivables | 40 | €199,186 | €273,989 | +€74,803 | +37.6% |
| Other amounts receivable | 41 | €13,013 | €63,151 | +€50,138 | +385% |
| Cash at bank and in hand | 54/58 | €228,201 | €129,141 | -€99,060 | -43.4% |
| Deferred charges and accrued income | 490/1 | €724 | €5,194 | +€4,470 | +617% |
| Total equity and liabilities | 10/49 | €729,169 | €904,363 | +€175,194 | +24.0% |
| Equity | 10/15 | €86,622 | €149,718 | +€63,096 | +72.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €84,622 | €147,718 | +€63,096 | +74.6% |
| Distributable reserves | 133 | €84,622 | €147,718 | +€63,096 | +74.6% |
| Amounts payable | 17/49 | €642,547 | €754,646 | +€112,099 | +17.4% |
| Amounts payable within one year | 42/48 | €642,124 | €753,165 | +€111,041 | +17.3% |
| Financial debts | 43 | €219,000 | €166,800 | -€52,200 | -23.8% |
| Credit institutions | 430/8 | €219,000 | €166,800 | -€52,200 | -23.8% |
| Trade debts | 44 | €328,563 | €506,732 | +€178,169 | +54.2% |
| Suppliers | 440/4 | €328,563 | €506,732 | +€178,169 | +54.2% |
| Taxes, remuneration and social security | 45 | €36,661 | €33,218 | -€3,443 | -9.4% |
| Taxes | 450/3 | €30,200 | €24,200 | -€6,000 | -19.9% |
| Remuneration and social security | 454/9 | €6,461 | €9,018 | +€2,557 | +39.6% |
| Other amounts payable | 47/48 | €57,899 | €46,416 | -€11,484 | -19.8% |
| Accrued charges and deferred income | 492/3 | €423 | €1,480 | +€1,057 | +250% |
| Remuneration, social security and pensions | 62 | €58,336 | €75,491 | +€17,155 | +29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €881 | €4,207 | +€3,326 | +377% |
| Other operating charges | 640/8 | €450 | - | -€450 | |
| Gross operating margin | 9900 | €175,178 | €167,252 | -€7,927 | -4.5% |
| Operating profit (loss) | 9901 | €115,511 | €87,554 | -€27,958 | -24.2% |
| Financial income | 75/76B | €28 | €1 | -€27 | -96.6% |
| Recurring financial income | 75 | €28 | €1 | -€27 | -96.6% |
| Financial charges | 65/66B | €717 | €239 | -€478 | -66.7% |
| Recurring financial charges | 65 | €717 | €239 | -€478 | -66.7% |
| Profit (loss) for the period before taxes | 9903 | €114,822 | €87,316 | -€27,506 | -24.0% |
| Income taxes | 67/77 | €30,200 | €24,220 | -€5,980 | -19.8% |
| Profit (loss) for the period | 9904 | €84,622 | €63,096 | -€21,526 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,622 | €63,096 | -€21,526 | -25.4% |
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 19 October 2026 via checked.be.