DELTAVOX PROJECTS: 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.
DELTAVOX PROJECTS
Largest movements
- Cash +€305,105
up €305,105 (+105.2%), from €289,963 to €595,068
mainly Receivables within one year (+€182,455) and Net result for the year (+€108,496)
- Receivables within one year -€182,455
down €182,455 (-43.9%), from €415,888 to €233,433
of which Trade receivables: -€186,666
- Stocks and contracts -€29,575
down €29,575 (-8.7%), from €340,245 to €310,671
- Other debts -€90,000
down €90,000 (-100.0%), from €90,000 to €0
- Accrued charges and deferred income +€82,271
up €82,271 (+172.9%), from €47,570 to €129,841
- Reserves +€77,849
up €77,849 (+10.6%), from €736,527 to €814,376
of which Distributable reserves: +€77,849
- Short-term financial debts +€12,635
up €12,635 (+296.2%), from €4,266 to €16,901
- Gross operating margin -€335,147
down €335,147 (-48.5%), from €691,235 to €356,089
- Taxes -€51,196
down €51,196 (-52.7%), from €97,100 to €45,903
- Staff costs -€49,306
down €49,306 (-22.3%), from €220,630 to €171,325
- Depreciation -€17,295
down €17,295 (-32.7%), from €52,910 to €35,614
- Write-downs -€7,970
down €7,970, from €1,626 to -€6,344
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.
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 | €1,140,542 | €1,248,910 | +€108,368 | +9.5% |
| Fixed assets | 21/28 | €78,984 | €96,695 | +€17,711 | +22.4% |
| Intangible fixed assets | 21 | €1,937 | €8,839 | +€6,903 | +356.4% |
| Tangible fixed assets | 22/27 | €76,398 | €87,206 | +€10,808 | +14.1% |
| Land and buildings | 22 | €11,941 | €8,999 | -€2,941 | -24.6% |
| Plant, machinery and equipment | 23 | €1,685 | €1,072 | -€613 | -36.4% |
| Furniture and vehicles | 24 | €62,773 | €77,135 | +€14,362 | +22.9% |
| Financial fixed assets | 28 | €650 | €650 | = | 0.0% |
| Current assets | 29/58 | €1,061,557 | €1,152,215 | +€90,658 | +8.5% |
| Stocks and contracts in progress | 3 | €340,245 | €310,671 | -€29,575 | -8.7% |
| Stocks | 30/36 | €340,245 | €310,671 | -€29,575 | -8.7% |
| Amounts receivable within one year | 40/41 | €415,888 | €233,433 | -€182,455 | -43.9% |
| Trade receivables | 40 | €415,888 | €229,222 | -€186,666 | -44.9% |
| Other amounts receivable | 41 | €0 | €4,211 | +€4,211 | |
| Cash at bank and in hand | 54/58 | €289,963 | €595,068 | +€305,105 | +105.2% |
| Deferred charges and accrued income | 490/1 | €15,461 | €13,044 | -€2,417 | -15.6% |
| Total equity and liabilities | 10/49 | €1,140,542 | €1,248,910 | +€108,368 | +9.5% |
| Equity | 10/15 | €796,527 | €874,376 | +€77,849 | +9.8% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €736,527 | €814,376 | +€77,849 | +10.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €229 | €229 | = | 0.0% |
| Distributable reserves | 133 | €736,298 | €814,147 | +€77,849 | +10.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €344,015 | €374,534 | +€30,519 | +8.9% |
| Amounts payable after more than one year | 17 | €43,916 | €53,820 | +€9,903 | +22.5% |
| Financial debts | 170/4 | €43,916 | €53,820 | +€9,903 | +22.5% |
| Amounts payable within one year | 42/48 | €252,528 | €190,873 | -€61,655 | -24.4% |
| Current portion of amounts payable after more than one year | 42 | €22,653 | €30,713 | +€8,060 | +35.6% |
| Financial debts | 43 | €4,266 | €16,901 | +€12,635 | +296.2% |
| Credit institutions | 430/8 | €4,266 | €16,901 | +€12,635 | +296.2% |
| Trade debts | 44 | €67,699 | €74,017 | +€6,318 | +9.3% |
| Suppliers | 440/4 | €67,699 | €74,017 | +€6,318 | +9.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €67,910 | €69,242 | +€1,333 | +2.0% |
| Taxes | 450/3 | €56,541 | €57,833 | +€1,292 | +2.3% |
| Remuneration and social security | 454/9 | €11,369 | €11,409 | +€40 | +0.4% |
| Other amounts payable | 47/48 | €90,000 | €0 | -€90,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €47,570 | €129,841 | +€82,271 | +172.9% |
| Non-recurring operating income | 76A | €8,116 | €13,264 | +€5,148 | +63.4% |
| Remuneration, social security and pensions | 62 | €220,630 | €171,325 | -€49,306 | -22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,910 | €35,614 | -€17,295 | -32.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,626 | -€6,344 | -€7,970 | |
| Other operating charges | 640/8 | €6,436 | €2,861 | -€3,575 | -55.6% |
| Gross operating margin | 9900 | €691,235 | €356,089 | -€335,147 | -48.5% |
| Operating profit (loss) | 9901 | €409,633 | €152,633 | -€257,001 | -62.7% |
| Financial income | 75/76B | €6,928 | €5,886 | -€1,042 | -15.0% |
| Recurring financial income | 75 | €6,928 | €5,886 | -€1,042 | -15.0% |
| Financial charges | 65/66B | €10,289 | €4,119 | -€6,170 | -60.0% |
| Recurring financial charges | 65 | €10,289 | €4,119 | -€6,170 | -60.0% |
| Profit (loss) for the period before taxes | 9903 | €406,273 | €154,400 | -€251,873 | -62.0% |
| Income taxes | 67/77 | €97,100 | €45,903 | -€51,196 | -52.7% |
| Profit (loss) for the period | 9904 | €309,173 | €108,496 | -€200,677 | -64.9% |
| Profit (loss) for the period to be appropriated | 9905 | €309,173 | €108,496 | -€200,677 | -64.9% |
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 7 October 2026 via checked.be.