DELTA TREND: 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 TREND
Largest movements
- Receivables within one year +€14,347
up €14,347 (+86.3%), from €16,633 to €30,980
of which Trade receivables: +€14,076
- Cash +€1,455
new in 2025: €1,455
mainly Net result for the year (+€64,027) and Deferred charges and accrued income (+€540)
- Deferred charges and accrued income -€540
down €540 (-72.0%), from €750 to €210
- Profit (loss) carried forward +€64,027
up €64,027 (+24.1%), from -€265,592 to -€201,565
- Trade debts -€27,955
down €27,955 (-48.4%), from €57,714 to €29,758
- Debts after one year -€16,343
down €16,343 (-8.1%), from €202,127 to €185,784
- Short-term financial debts -€4,601
no longer reported in 2025 (was €4,601)
- Gross operating margin +€46,593
up €46,593 (+232.0%), from €20,082 to €66,675
- Financial charges -€12,899
down €12,899 (-91.9%), from €14,037 to €1,138
- Other operating charges +€1,225
up €1,225 (+1047.6%), from €117 to €1,342
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.
Cash bridge derived
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 | €17,466 | €32,645 | +€15,179 | +86.9% |
| Fixed assets | 21/28 | €82 | - | -€82 | |
| Tangible fixed assets | 22/27 | €82 | - | -€82 | |
| Plant, machinery and equipment | 23 | €82 | - | -€82 | |
| Current assets | 29/58 | €17,383 | €32,645 | +€15,262 | +87.8% |
| Amounts receivable within one year | 40/41 | €16,633 | €30,980 | +€14,347 | +86.3% |
| Trade receivables | 40 | €15,900 | €29,975 | +€14,076 | +88.5% |
| Other amounts receivable | 41 | €734 | €1,005 | +€271 | +37.0% |
| Cash at bank and in hand | 54/58 | - | €1,455 | +€1,455 | |
| Deferred charges and accrued income | 490/1 | €750 | €210 | -€540 | -72.0% |
| Total equity and liabilities | 10/49 | €17,466 | €32,645 | +€15,179 | +86.9% |
| Equity | 10/15 | -€247,042 | -€183,015 | +€64,027 | +25.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€265,592 | -€201,565 | +€64,027 | +24.1% |
| Amounts payable | 17/49 | €264,508 | €215,660 | -€48,848 | -18.5% |
| Amounts payable after more than one year | 17 | €202,127 | €185,784 | -€16,343 | -8.1% |
| Financial debts | 170/4 | €202,127 | €185,784 | -€16,343 | -8.1% |
| Amounts payable within one year | 42/48 | €62,380 | €29,876 | -€32,505 | -52.1% |
| Financial debts | 43 | €4,601 | - | -€4,601 | |
| Credit institutions | 430/8 | €4,601 | - | -€4,601 | |
| Trade debts | 44 | €57,714 | €29,758 | -€27,955 | -48.4% |
| Suppliers | 440/4 | €57,714 | €29,758 | -€27,955 | -48.4% |
| Taxes, remuneration and social security | 45 | €65 | €117 | +€52 | +79.5% |
| Taxes | 450/3 | €65 | €117 | +€52 | +79.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €490 | €82 | -€407 | -83.2% |
| Other operating charges | 640/8 | €117 | €1,342 | +€1,225 | +1047.6% |
| Gross operating margin | 9900 | €20,082 | €66,675 | +€46,593 | +232.0% |
| Operating profit (loss) | 9901 | €19,475 | €65,250 | +€45,775 | +235.0% |
| Financial income | 75/76B | - | €130 | +€130 | |
| Recurring financial income | 75 | - | €130 | +€130 | |
| Financial charges | 65/66B | €14,037 | €1,138 | -€12,899 | -91.9% |
| Recurring financial charges | 65 | €14,037 | €1,138 | -€12,899 | -91.9% |
| Profit (loss) for the period before taxes | 9903 | €5,439 | €64,242 | +€58,804 | +1081.2% |
| Income taxes | 67/77 | €160 | €215 | +€55 | +34.5% |
| Profit (loss) for the period | 9904 | €5,279 | €64,027 | +€58,748 | +1113.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,279 | €64,027 | +€58,748 | +1113.0% |
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 9 October 2026 via checked.be.