DELTA43: 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.
DELTA43
Largest movements
- Receivables after one year +€15,470
up €15,470 (+12.1%), from €128,347 to €143,817
- Cash +€15,424
up €15,424 (+379%), from €4,072 to €19,496
mainly Net result for the year (+€34,257) and Other debts (+€19,000)
- Receivables within one year -€10,944
down €10,944 (-37.2%), from €29,427 to €18,483
of which Trade receivables: -€11,277
- Other debts +€19,000
up €19,000 (+1,900%), from €1,000 to €20,000
- Tax, wage and social debts -€6,618
down €6,618 (-67.5%), from €9,807 to €3,189
- Reserves +€5,677
up €5,677 (+4.2%), from €134,591 to €140,268
- Gross operating margin -€43,491
down €43,491 (-48.6%), from €89,460 to €45,969
- Taxes -€21,727
down €21,727 (-72.6%), from €29,917 to €8,189
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 | €166,197 | €184,464 | +€18,268 | +11.0% |
| Formation expenses | 20 | €509 | €137 | -€372 | -73.1% |
| Fixed assets | 21/28 | €2,350 | €1,652 | -€698 | -29.7% |
| Tangible fixed assets | 22/27 | €2,200 | €1,502 | -€698 | -31.7% |
| Plant, machinery and equipment | 23 | €1,335 | €1,215 | -€120 | -9.0% |
| Furniture and vehicles | 24 | €865 | €287 | -€579 | -66.8% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €163,337 | €182,676 | +€19,338 | +11.8% |
| Amounts receivable after more than one year | 29 | €128,347 | €143,817 | +€15,470 | +12.1% |
| Other amounts receivable | 291 | €128,347 | €143,817 | +€15,470 | +12.1% |
| Amounts receivable within one year | 40/41 | €29,427 | €18,483 | -€10,944 | -37.2% |
| Trade receivables | 40 | €29,427 | €18,150 | -€11,277 | -38.3% |
| Other amounts receivable | 41 | - | €333 | +€333 | |
| Cash at bank and in hand | 54/58 | €4,072 | €19,496 | +€15,424 | +379% |
| Deferred charges and accrued income | 490/1 | €1,491 | €880 | -€612 | -41.0% |
| Total equity and liabilities | 10/49 | €166,197 | €184,464 | +€18,268 | +11.0% |
| Equity | 10/15 | €154,591 | €160,268 | +€5,677 | +3.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €134,591 | €140,268 | +€5,677 | +4.2% |
| Distributable reserves | 133 | €134,591 | €140,268 | +€5,677 | +4.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €11,606 | €24,197 | +€12,591 | +108% |
| Amounts payable within one year | 42/48 | €11,590 | €24,197 | +€12,606 | +109% |
| Trade debts | 44 | €783 | €1,007 | +€224 | +28.6% |
| Suppliers | 440/4 | €783 | €1,007 | +€224 | +28.6% |
| Taxes, remuneration and social security | 45 | €9,807 | €3,189 | -€6,618 | -67.5% |
| Taxes | 450/3 | €9,807 | €3,189 | -€6,618 | -67.5% |
| Other amounts payable | 47/48 | €1,000 | €20,000 | +€19,000 | +1,900% |
| Accrued charges and deferred income | 492/3 | €15 | €0 | -€15 | -100% |
| Remuneration, social security and pensions | 62 | €3,082 | €3,456 | +€374 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,115 | €2,074 | -€41 | -1.9% |
| Other operating charges | 640/8 | €1,770 | €2,070 | +€300 | +17.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €89,460 | €45,969 | -€43,491 | -48.6% |
| Operating profit (loss) | 9901 | €82,493 | €38,369 | -€44,124 | -53.5% |
| Financial income | 75/76B | €4,159 | €4,290 | +€131 | +3.1% |
| Recurring financial income | 75 | €4,159 | €4,290 | +€131 | +3.1% |
| Financial charges | 65/66B | €156 | €213 | +€58 | +37.0% |
| Recurring financial charges | 65 | €156 | €213 | +€58 | +37.0% |
| Profit (loss) for the period before taxes | 9903 | €86,497 | €42,446 | -€44,051 | -50.9% |
| Income taxes | 67/77 | €29,917 | €8,189 | -€21,727 | -72.6% |
| Profit (loss) for the period | 9904 | €56,580 | €34,257 | -€22,323 | -39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €56,580 | €34,257 | -€22,323 | -39.5% |
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 24 October 2026 via checked.be.