DELTA SQUARE: 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 SQUARE
Largest movements
- Tangible fixed assets -€84,085
down €84,085 (-16.3%), from €515,570 to €431,485
of which Plant, machinery and equipment: -€62,661
- Cash -€45,667
down €45,667 (-59.6%), from €76,563 to €30,896
mainly Debts after one year (-€75,000) and Net result for the year (-€50,649)
- Debts after one year -€75,000
down €75,000 (-11.5%), from €650,000 to €575,000
- Profit (loss) carried forward -€50,649
down €50,649 (-4.4%), from -€1.1m to -€1.2m
- Tax, wage and social debts -€9,017
down €9,017 (-24.1%), from €37,442 to €28,425
of which Remuneration and social security: -€9,068
- Gross operating margin -€35,492
down €35,492 (-10.0%), from €355,586 to €320,094
- Staff costs +€4,140
up €4,140 (+1.5%), from €267,697 to €271,837
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 | €790,205 | €654,553 | -€135,652 | -17.2% |
| Fixed assets | 21/28 | €516,854 | €435,795 | -€81,059 | -15.7% |
| Tangible fixed assets | 22/27 | €515,570 | €431,485 | -€84,085 | -16.3% |
| Land and buildings | 22 | €138,088 | €116,664 | -€21,424 | -15.5% |
| Plant, machinery and equipment | 23 | €377,482 | €314,821 | -€62,661 | -16.6% |
| Financial fixed assets | 28 | €1,284 | €4,310 | +€3,026 | +236% |
| Current assets | 29/58 | €273,350 | €218,758 | -€54,593 | -20.0% |
| Stocks and contracts in progress | 3 | €163,714 | €156,774 | -€6,939 | -4.2% |
| Stocks | 30/36 | €163,714 | €156,774 | -€6,939 | -4.2% |
| Amounts receivable within one year | 40/41 | €33,074 | €31,087 | -€1,986 | -6.0% |
| Trade receivables | 40 | €21,831 | €26,239 | +€4,407 | +20.2% |
| Other amounts receivable | 41 | €11,242 | €4,849 | -€6,394 | -56.9% |
| Cash at bank and in hand | 54/58 | €76,563 | €30,896 | -€45,667 | -59.6% |
| Total equity and liabilities | 10/49 | €790,205 | €654,553 | -€135,652 | -17.2% |
| Equity | 10/15 | -€77,920 | -€128,569 | -€50,649 | -65.0% |
| Contributions | 10/11 | €550,000 | €550,000 | = | 0.0% |
| Capital | 10 | €550,000 | €550,000 | = | 0.0% |
| Issued capital | 100 | €550,000 | €550,000 | = | 0.0% |
| Reserves | 13 | €516,015 | €516,015 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €55,423 | €55,423 | = | 0.0% |
| Distributable reserves | 133 | €454,395 | €454,395 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,143,935 | -€1,194,584 | -€50,649 | -4.4% |
| Amounts payable | 17/49 | €868,125 | €783,122 | -€85,003 | -9.8% |
| Amounts payable after more than one year | 17 | €650,000 | €575,000 | -€75,000 | -11.5% |
| Financial debts | 170/4 | €650,000 | €575,000 | -€75,000 | -11.5% |
| Amounts payable within one year | 42/48 | €218,079 | €208,122 | -€9,957 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €90,000 | €90,000 | = | 0.0% |
| Trade debts | 44 | €88,453 | €87,513 | -€940 | -1.1% |
| Suppliers | 440/4 | €88,453 | €87,513 | -€940 | -1.1% |
| Taxes, remuneration and social security | 45 | €37,442 | €28,425 | -€9,017 | -24.1% |
| Taxes | 450/3 | - | €51 | +€51 | |
| Remuneration and social security | 454/9 | €37,442 | €28,373 | -€9,068 | -24.2% |
| Other amounts payable | 47/48 | €2,184 | €2,184 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €46 | €0 | -€46 | -100% |
| Remuneration, social security and pensions | 62 | €267,697 | €271,837 | +€4,140 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,085 | €84,085 | -€0 | 0.0% |
| Other operating charges | 640/8 | €10,381 | €11,928 | +€1,547 | +14.9% |
| Gross operating margin | 9900 | €355,586 | €320,094 | -€35,492 | -10.0% |
| Operating profit (loss) | 9901 | -€6,577 | -€47,756 | -€41,179 | -626% |
| Financial income | 75/76B | €369 | €623 | +€254 | +68.7% |
| Recurring financial income | 75 | €369 | €623 | +€254 | +68.7% |
| Financial charges | 65/66B | €4,396 | €3,515 | -€881 | -20.0% |
| Recurring financial charges | 65 | €4,396 | €3,515 | -€881 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | -€10,604 | -€50,649 | -€40,045 | -378% |
| Profit (loss) for the period | 9904 | -€10,604 | -€50,649 | -€40,045 | -378% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,604 | -€50,649 | -€40,045 | -378% |
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 20 October 2026 via checked.be.