Deltarub: 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.
Deltarub
Largest movements
- Tangible fixed assets -€51,722
down €51,722 (-70.5%), from €73,357 to €21,634
of which Furniture and vehicles: -€46,773
- Receivables within one year +€46,658
up €46,658 (+6.3%), from €744,893 to €791,551
of which Other amounts receivable: +€25,184
- Reserves +€241,230
up €241,230 (+37.0%), from €651,122 to €892,353
- Trade debts -€89,251
down €89,251 (-32.9%), from €271,322 to €182,071
- Tax, wage and social debts -€89,093
down €89,093 (-30.3%), from €294,470 to €205,377
of which Taxes: -€85,793
- Current portion of long-term debt -€24,278
down €24,278 (-100%), from €24,278 to €0
- Short-term financial debts -€22,500
down €22,500 (-45.0%), from €50,000 to €27,500
of which Other loans: -€22,500
- Write-downs +€135,000
new in 2025: €135,000
- Gross operating margin -€94,224
down €94,224 (-14.6%), from €645,536 to €551,312
- Taxes -€73,637
down €73,637 (-40.7%), from €180,768 to €107,131
- Other operating charges +€18,276
up €18,276 (+92.5%), from €19,757 to €38,033
- Financial charges -€15,138
down €15,138 (-67.3%), from €22,483 to €7,344
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 | €1,490,686 | €1,483,248 | -€7,437 | -0.5% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €82,357 | €30,634 | -€51,722 | -62.8% |
| Tangible fixed assets | 22/27 | €73,357 | €21,634 | -€51,722 | -70.5% |
| Plant, machinery and equipment | 23 | €20,235 | €15,286 | -€4,949 | -24.5% |
| Furniture and vehicles | 24 | €53,122 | €6,349 | -€46,773 | -88.0% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €1,408,329 | €1,452,614 | +€44,285 | +3.1% |
| Stocks and contracts in progress | 3 | €67,816 | €71,604 | +€3,788 | +5.6% |
| Stocks | 30/36 | €67,816 | €71,604 | +€3,788 | +5.6% |
| Amounts receivable within one year | 40/41 | €744,893 | €791,551 | +€46,658 | +6.3% |
| Trade receivables | 40 | €737,639 | €759,113 | +€21,474 | +2.9% |
| Other amounts receivable | 41 | €7,254 | €32,439 | +€25,184 | +347% |
| Cash at bank and in hand | 54/58 | €585,958 | €583,345 | -€2,613 | -0.4% |
| Deferred charges and accrued income | 490/1 | €9,662 | €6,114 | -€3,548 | -36.7% |
| Total equity and liabilities | 10/49 | €1,490,686 | €1,483,248 | -€7,437 | -0.5% |
| Equity | 10/15 | €676,122 | €917,353 | +€241,230 | +35.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €651,122 | €892,353 | +€241,230 | +37.0% |
| Distributable reserves | 133 | €651,122 | €892,353 | +€241,230 | +37.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €150,000 | €150,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €150,000 | €150,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable | 17/49 | €664,564 | €415,896 | -€248,668 | -37.4% |
| Amounts payable after more than one year | 17 | €12,597 | €0 | -€12,597 | -100% |
| Financial debts | 170/4 | €12,584 | €0 | -€12,584 | -100% |
| Other amounts payable | 178/9 | €14 | €0 | -€14 | -100% |
| Amounts payable within one year | 42/48 | €651,966 | €415,896 | -€236,070 | -36.2% |
| Current portion of amounts payable after more than one year | 42 | €24,278 | €0 | -€24,278 | -100% |
| Financial debts | 43 | €50,000 | €27,500 | -€22,500 | -45.0% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €50,000 | €27,500 | -€22,500 | -45.0% |
| Trade debts | 44 | €271,322 | €182,071 | -€89,251 | -32.9% |
| Suppliers | 440/4 | €271,322 | €182,071 | -€89,251 | -32.9% |
| Taxes, remuneration and social security | 45 | €294,470 | €205,377 | -€89,093 | -30.3% |
| Taxes | 450/3 | €291,170 | €205,377 | -€85,793 | -29.5% |
| Remuneration and social security | 454/9 | €3,300 | €0 | -€3,300 | -100% |
| Other amounts payable | 47/48 | €11,897 | €948 | -€10,948 | -92.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,881 | €14,093 | -€4,787 | -25.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €135,000 | +€135,000 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €19,757 | €38,033 | +€18,276 | +92.5% |
| Non-recurring operating charges | 66A | €0 | €9,902 | +€9,902 | |
| Gross operating margin | 9900 | €645,536 | €551,312 | -€94,224 | -14.6% |
| Operating profit (loss) | 9901 | €606,898 | €354,284 | -€252,614 | -41.6% |
| Financial income | 75/76B | €1,240 | €1,422 | +€182 | +14.7% |
| Recurring financial income | 75 | €1,240 | €1,422 | +€182 | +14.7% |
| Financial charges | 65/66B | €22,483 | €7,344 | -€15,138 | -67.3% |
| Recurring financial charges | 65 | €22,483 | €7,344 | -€15,138 | -67.3% |
| Profit (loss) for the period before taxes | 9903 | €585,655 | €348,361 | -€237,294 | -40.5% |
| Income taxes | 67/77 | €180,768 | €107,131 | -€73,637 | -40.7% |
| Profit (loss) for the period | 9904 | €404,887 | €241,230 | -€163,657 | -40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €404,887 | €241,230 | -€163,657 | -40.4% |
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 14 October 2026 via checked.be.