DELTAL: 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.
DELTAL
Largest movements
- Cash -€29,027
down €29,027 (-65.4%), from €44,402 to €15,375
mainly Other debts (-€60,119) and Receivables within one year (-€3,656)
- Current investments -€7,316
down €7,316 (-1.5%), from €501,548 to €494,232
- Other debts -€60,119
down €60,119 (-40.7%), from €147,799 to €87,679
- Reserves +€22,456
up €22,456 (+7.7%), from €291,639 to €314,095
of which Distributable reserves: +€22,456
- Financial charges +€37,289
up €37,289, from -€35,804 to €1,484
- Financial income +€20,749
up €20,749 (+134.9%), from €15,379 to €36,128
- Gross operating margin -€17,511
down €17,511, from €15,306 to -€2,205
- Taxes -€673
down €673 (-16.9%), from €3,978 to €3,305
- Other operating charges -€459
down €459 (-29.8%), from €1,538 to €1,080
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 | €649,205 | €610,941 | -€38,265 | -5.9% |
| Fixed assets | 21/28 | €17,861 | €12,263 | -€5,599 | -31.3% |
| Tangible fixed assets | 22/27 | €17,861 | €12,263 | -€5,599 | -31.3% |
| Furniture and vehicles | 24 | €17,861 | €12,263 | -€5,599 | -31.3% |
| Current assets | 29/58 | €631,344 | €598,678 | -€32,666 | -5.2% |
| Amounts receivable after more than one year | 29 | €77,500 | €77,500 | = | 0.0% |
| Other amounts receivable | 291 | €77,500 | €77,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,921 | €7,577 | +€3,656 | +93.3% |
| Trade receivables | 40 | €3,921 | €2,369 | -€1,552 | -39.6% |
| Other amounts receivable | 41 | €0 | €5,208 | +€5,208 | |
| Current investments | 50/53 | €501,548 | €494,232 | -€7,316 | -1.5% |
| Cash at bank and in hand | 54/58 | €44,402 | €15,375 | -€29,027 | -65.4% |
| Deferred charges and accrued income | 490/1 | €3,974 | €3,994 | +€20 | +0.5% |
| Total equity and liabilities | 10/49 | €649,205 | €610,941 | -€38,265 | -5.9% |
| Equity | 10/15 | €496,639 | €519,095 | +€22,456 | +4.5% |
| Contributions | 10/11 | €205,000 | €205,000 | = | 0.0% |
| Capital | 10 | €205,000 | €205,000 | = | 0.0% |
| Issued capital | 100 | €205,000 | €205,000 | = | 0.0% |
| Reserves | 13 | €291,639 | €314,095 | +€22,456 | +7.7% |
| Non-distributable reserves | 130/1 | €18,207 | €18,207 | = | 0.0% |
| Legal reserve | 130 | €18,207 | €18,207 | = | 0.0% |
| Distributable reserves | 133 | €273,432 | €295,888 | +€22,456 | +8.2% |
| Amounts payable | 17/49 | €152,567 | €91,846 | -€60,721 | -39.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €152,567 | €91,846 | -€60,721 | -39.8% |
| Trade debts | 44 | €2,048 | €1,565 | -€483 | -23.6% |
| Suppliers | 440/4 | €2,048 | €1,565 | -€483 | -23.6% |
| Taxes, remuneration and social security | 45 | €2,720 | €2,602 | -€118 | -4.3% |
| Taxes | 450/3 | €2,720 | €2,602 | -€118 | -4.3% |
| Other amounts payable | 47/48 | €147,799 | €87,679 | -€60,119 | -40.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,599 | €5,599 | = | 0.0% |
| Other operating charges | 640/8 | €1,538 | €1,080 | -€459 | -29.8% |
| Gross operating margin | 9900 | €15,306 | -€2,205 | -€17,511 | |
| Operating profit (loss) | 9901 | €8,169 | -€8,883 | -€17,053 | |
| Financial income | 75/76B | €15,379 | €36,128 | +€20,749 | +134.9% |
| Recurring financial income | 75 | €15,379 | €36,128 | +€20,749 | +134.9% |
| Financial charges | 65/66B | -€35,804 | €1,484 | +€37,289 | |
| Recurring financial charges | 65 | -€35,804 | €1,484 | +€37,289 | |
| Profit (loss) for the period before taxes | 9903 | €59,353 | €25,761 | -€33,592 | -56.6% |
| Income taxes | 67/77 | €3,978 | €3,305 | -€673 | -16.9% |
| Profit (loss) for the period | 9904 | €55,375 | €22,456 | -€32,918 | -59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,375 | €22,456 | -€32,918 | -59.4% |
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 30 September 2026 via checked.be.