DELTAPHAR: 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.
DELTAPHAR
Largest movements
- Tangible fixed assets +€676,206
up €676,206 (+2,670%), from €25,323 to €701,528
of which Land and buildings: +€680,714
- Current investments -€123,169
down €123,169 (-80.7%), from €152,656 to €29,486
- Receivables within one year +€36,544
up €36,544 (+13.7%), from €266,238 to €302,782
of which Other amounts receivable: +€49,344
- Cash -€27,841
down €27,841 (-79.3%), from €35,110 to €7,269
mainly Investment in fixed assets (net) (-€744,881) and Receivables within one year (-€36,544)
- Debts after one year +€581,331
up €581,331 (+1,841%), from €31,585 to €612,917
- Current portion of long-term debt +€35,290
up €35,290 (+182%), from €19,389 to €54,680
- Short-term financial debts -€30,457
down €30,457 (-31.9%), from €95,409 to €64,952
- Trade debts -€20,788
down €20,788 (-5.9%), from €355,335 to €334,547
- Profit (loss) carried forward -€15,318
down €15,318 (-26.0%), from -€58,852 to -€74,170
- Gross operating margin +€108,602
up €108,602 (+53.8%), from €201,806 to €310,408
- Depreciation +€59,803
up €59,803 (+674%), from €8,872 to €68,676
- Financial charges +€41,803
up €41,803 (+341%), from €12,242 to €54,045
- Staff costs +€32,848
up €32,848 (+16.5%), from €199,354 to €232,202
- Financial income +€19,875
up €19,875 (+84.3%), from €23,589 to €43,465
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 | €573,887 | €1,138,382 | +€564,495 | +98.4% |
| Fixed assets | 21/28 | €25,563 | €701,768 | +€676,206 | +2,645% |
| Tangible fixed assets | 22/27 | €25,323 | €701,528 | +€676,206 | +2,670% |
| Land and buildings | 22 | - | €680,714 | +€680,714 | |
| Plant, machinery and equipment | 23 | €640 | €4,684 | +€4,044 | +632% |
| Furniture and vehicles | 24 | €17,501 | €11,094 | -€6,407 | -36.6% |
| Other tangible fixed assets | 26 | €7,182 | €5,036 | -€2,146 | -29.9% |
| Financial fixed assets | 28 | €240 | €240 | = | 0.0% |
| Current assets | 29/58 | €548,324 | €436,614 | -€111,711 | -20.4% |
| Stocks and contracts in progress | 3 | €90,326 | €92,171 | +€1,845 | +2.0% |
| Stocks | 30/36 | €90,326 | €92,171 | +€1,845 | +2.0% |
| Amounts receivable within one year | 40/41 | €266,238 | €302,782 | +€36,544 | +13.7% |
| Trade receivables | 40 | €103,796 | €90,997 | -€12,799 | -12.3% |
| Other amounts receivable | 41 | €162,442 | €211,786 | +€49,344 | +30.4% |
| Current investments | 50/53 | €152,656 | €29,486 | -€123,169 | -80.7% |
| Cash at bank and in hand | 54/58 | €35,110 | €7,269 | -€27,841 | -79.3% |
| Deferred charges and accrued income | 490/1 | €3,994 | €4,905 | +€911 | +22.8% |
| Total equity and liabilities | 10/49 | €573,887 | €1,138,382 | +€564,495 | +98.4% |
| Equity | 10/15 | €9,348 | -€5,970 | -€15,318 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,852 | -€74,170 | -€15,318 | -26.0% |
| Amounts payable | 17/49 | €564,539 | €1,144,352 | +€579,813 | +103% |
| Amounts payable after more than one year | 17 | €31,585 | €612,917 | +€581,331 | +1,841% |
| Financial debts | 170/4 | €31,585 | €612,917 | +€581,331 | +1,841% |
| Amounts payable within one year | 42/48 | €532,954 | €529,654 | -€3,300 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €19,389 | €54,680 | +€35,290 | +182% |
| Financial debts | 43 | €95,409 | €64,952 | -€30,457 | -31.9% |
| Credit institutions | 430/8 | €95,409 | €64,952 | -€30,457 | -31.9% |
| Trade debts | 44 | €355,335 | €334,547 | -€20,788 | -5.9% |
| Suppliers | 440/4 | €355,335 | €334,547 | -€20,788 | -5.9% |
| Taxes, remuneration and social security | 45 | €44,820 | €55,475 | +€10,655 | +23.8% |
| Taxes | 450/3 | €6,410 | €14,714 | +€8,304 | +130% |
| Remuneration and social security | 454/9 | €38,410 | €40,761 | +€2,351 | +6.1% |
| Other amounts payable | 47/48 | €18,000 | €20,000 | +€2,000 | +11.1% |
| Accrued charges and deferred income | 492/3 | €0 | €1,781 | +€1,781 | |
| Remuneration, social security and pensions | 62 | €199,354 | €232,202 | +€32,848 | +16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,872 | €68,676 | +€59,803 | +674% |
| Other operating charges | 640/8 | €894 | €4,258 | +€3,364 | +376% |
| Gross operating margin | 9900 | €201,806 | €310,408 | +€108,602 | +53.8% |
| Operating profit (loss) | 9901 | -€7,315 | €5,272 | +€12,586 | |
| Financial income | 75/76B | €23,589 | €43,465 | +€19,875 | +84.3% |
| Recurring financial income | 75 | €23,589 | €43,465 | +€19,875 | +84.3% |
| Financial charges | 65/66B | €12,242 | €54,045 | +€41,803 | +341% |
| Recurring financial charges | 65 | €12,242 | €54,045 | +€41,803 | +341% |
| Profit (loss) for the period before taxes | 9903 | €4,032 | -€5,308 | -€9,341 | |
| Income taxes | 67/77 | €2,835 | €10,009 | +€7,174 | +253% |
| Profit (loss) for the period | 9904 | €1,197 | -€15,318 | -€16,515 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,197 | -€15,318 | -€16,515 |
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 19 October 2026 via checked.be.