Deltafin: what changed
Two fiscal 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.
Deltafin
Largest movements
- Tangible fixed assets -€30,738
down €30,738 (-9.9%), from €311,718 to €280,980
of which Furniture and vehicles: -€19,658
- Receivables within one year -€8,708
down €8,708 (-7.4%), from €117,230 to €108,522
of which Trade receivables: -€8,708
- Cash -€8,004
down €8,004 (-36.4%), from €21,988 to €13,984
mainly Net result for the year (-€101,582) and Debts after one year (-€37,431)
- Other debts +€124,336
up €124,336 (+26.0%), from €477,757 to €602,093
- Profit (loss) carried forward -€101,582
down €101,582 (-57.2%), from -€177,460 to -€279,041
- Debts after one year -€37,431
down €37,431 (-56.5%), from €66,300 to €28,870
- Tax, wage and social debts -€28,276
down €28,276 (-92.5%), from €30,562 to €2,286
- Trade debts -€5,677
down €5,677 (-89.5%), from €6,340 to €663
- Gross operating margin -€32,712
down €32,712 (-4367.3%), from -€749 to -€33,461
- Taxes +€22,507
up €22,507 (+1587.2%), from €1,418 to €23,925
- Financial charges -€4,112
down €4,112 (-58.9%), from €6,982 to €2,870
- Other operating charges +€1,980
up €1,980 (+30.7%), from €6,453 to €8,434
- Depreciation -€895
down €895 (-2.6%), from €33,787 to €32,893
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 | €460,211 | €412,761 | -€47,450 | -10.3% |
| Fixed assets | 21/28 | €320,993 | €290,255 | -€30,738 | -9.6% |
| Tangible fixed assets | 22/27 | €311,718 | €280,980 | -€30,738 | -9.9% |
| Land and buildings | 22 | €190,333 | €183,826 | -€6,508 | -3.4% |
| Furniture and vehicles | 24 | €81,576 | €61,918 | -€19,658 | -24.1% |
| Other tangible fixed assets | 26 | €39,809 | €35,237 | -€4,572 | -11.5% |
| Financial fixed assets | 28 | €9,275 | €9,275 | = | 0.0% |
| Current assets | 29/58 | €139,218 | €122,506 | -€16,712 | -12.0% |
| Amounts receivable within one year | 40/41 | €117,230 | €108,522 | -€8,708 | -7.4% |
| Trade receivables | 40 | €12,338 | €3,630 | -€8,708 | -70.6% |
| Other amounts receivable | 41 | €104,892 | €104,892 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €21,988 | €13,984 | -€8,004 | -36.4% |
| Total equity and liabilities | 10/49 | €460,211 | €412,761 | -€47,450 | -10.3% |
| Equity | 10/15 | -€157,000 | -€258,581 | -€101,582 | -64.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€177,460 | -€279,041 | -€101,582 | -57.2% |
| Amounts payable | 17/49 | €617,211 | €671,343 | +€54,132 | +8.8% |
| Amounts payable after more than one year | 17 | €66,300 | €28,870 | -€37,431 | -56.5% |
| Financial debts | 170/4 | €66,300 | €28,870 | -€37,431 | -56.5% |
| Amounts payable within one year | 42/48 | €550,910 | €642,473 | +€91,563 | +16.6% |
| Current portion of amounts payable after more than one year | 42 | €36,252 | €37,431 | +€1,179 | +3.3% |
| Trade debts | 44 | €6,340 | €663 | -€5,677 | -89.5% |
| Suppliers | 440/4 | €6,340 | €663 | -€5,677 | -89.5% |
| Taxes, remuneration and social security | 45 | €30,562 | €2,286 | -€28,276 | -92.5% |
| Taxes | 450/3 | €30,562 | €2,286 | -€28,276 | -92.5% |
| Other amounts payable | 47/48 | €477,757 | €602,093 | +€124,336 | +26.0% |
| Non-recurring operating income | 76A | €10,235 | - | -€10,235 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,787 | €32,893 | -€895 | -2.6% |
| Other operating charges | 640/8 | €6,453 | €8,434 | +€1,980 | +30.7% |
| Non-recurring operating charges | 66A | €7,006 | - | -€7,006 | |
| Gross operating margin | 9900 | -€749 | -€33,461 | -€32,712 | -4367.3% |
| Operating profit (loss) | 9901 | -€47,996 | -€74,788 | -€26,792 | -55.8% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €6,982 | €2,870 | -€4,112 | -58.9% |
| Recurring financial charges | 65 | €6,982 | €2,870 | -€4,112 | -58.9% |
| Profit (loss) for the period before taxes | 9903 | -€54,977 | -€77,657 | -€22,680 | -41.3% |
| Income taxes | 67/77 | €1,418 | €23,925 | +€22,507 | +1587.2% |
| Profit (loss) for the period | 9904 | -€56,395 | -€101,582 | -€45,186 | -80.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,395 | -€101,582 | -€45,186 | -80.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.