DELTAWORX GROUP: 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.
What changed
DELTAWORX GROUP
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€194,614
2024 · -€214,170+€19,556
Equity
€460,498
2024 · €655,112-€194,614
Cash
€105
2024 · €258-€152
Balance sheet total
€2.0m
2024 · €2.0m-€57,113
Largest movements
Assets
- Intangible fixed assets -€50,136
down €50,136 (-6.5%), from €771,512 to €721,376
Equity and liabilities
- Profit (loss) carried forward -€194,614
down €194,614 (-13.6%), from -€1.4m to -€1.6m
- Other debts +€121,974
up €121,974 (+66.6%), from €183,040 to €305,014
- Trade debts +€28,421
up €28,421 (+2.5%), from €1.1m to €1.2m
Income statement
- Gross operating margin +€39,632
up €39,632 (+27.8%), from -€142,704 to -€103,072
- Depreciation +€20,147
up €20,147 (+29.7%), from €67,929 to €88,076
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.
Result 2024
-€214,170
Gross operating margin
+€39,632
Depreciation
-€20,147
Other operating charges
-€692
Financial income
+€201
Financial charges
+€562
Result 2025
-€194,614
raises the resultlowers the result
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.
From operations
+€42,962
Investment
-€30,622
Financing
-€12,493
Cash 2024
€258
From operations (derived)
+€42,962
Net result for the year
-€194,614
Depreciation
+€88,076
Smaller working-capital items
-€291
Deferred charges and accrued income
-€604
Trade debts
+€28,421
Other debts
+€121,974
Investment (derived)
-€30,622
Investment in fixed assets (net)
-€30,622
Financing
-€12,493
Debts after one year
-€13,036
Current portion of long-term debt
+€395
Short-term financial debts
+€148
Cash 2025
€105
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,036,875 | €1,979,762 | -€57,113 | -2.8% |
| Fixed assets | 21/28 | €2,033,856 | €1,976,403 | -€57,454 | -2.8% |
| Intangible fixed assets | 21 | €771,512 | €721,376 | -€50,136 | -6.5% |
| Tangible fixed assets | 22/27 | €90,219 | €82,901 | -€7,318 | -8.1% |
| Plant, machinery and equipment | 23 | €1,757 | €1,479 | -€277 | -15.8% |
| Other tangible fixed assets | 26 | €88,462 | €81,422 | -€7,040 | -8.0% |
| Financial fixed assets | 28 | €1,172,126 | €1,172,126 | = | 0.0% |
| Current assets | 29/58 | €3,018 | €3,359 | +€341 | +11.3% |
| Amounts receivable within one year | 40/41 | €110 | €0 | -€110 | -100% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €110 | €0 | -€110 | -100% |
| Cash at bank and in hand | 54/58 | €258 | €105 | -€152 | -59.2% |
| Deferred charges and accrued income | 490/1 | €2,650 | €3,254 | +€604 | +22.8% |
| Total equity and liabilities | 10/49 | €2,036,875 | €1,979,762 | -€57,113 | -2.8% |
| Equity | 10/15 | €655,112 | €460,498 | -€194,614 | -29.7% |
| Contributions | 10/11 | €2,086,554 | €2,086,554 | = | 0.0% |
| Capital | 10 | €2,086,554 | €2,086,554 | = | 0.0% |
| Issued capital | 100 | €2,086,554 | €2,086,554 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,431,442 | -€1,626,056 | -€194,614 | -13.6% |
| Amounts payable | 17/49 | €1,381,763 | €1,519,264 | +€137,501 | +10.0% |
| Amounts payable after more than one year | 17 | €51,268 | €38,232 | -€13,036 | -25.4% |
| Financial debts | 170/4 | €51,268 | €38,232 | -€13,036 | -25.4% |
| Amounts payable within one year | 42/48 | €1,329,287 | €1,479,824 | +€150,537 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €12,641 | €13,036 | +€395 | +3.1% |
| Financial debts | 43 | €840 | €989 | +€148 | +17.7% |
| Credit institutions | 430/8 | €840 | €989 | +€148 | +17.7% |
| Trade debts | 44 | €1,130,949 | €1,159,370 | +€28,421 | +2.5% |
| Suppliers | 440/4 | €1,130,949 | €1,159,370 | +€28,421 | +2.5% |
| Taxes, remuneration and social security | 45 | €1,818 | €1,416 | -€401 | -22.1% |
| Taxes | 450/3 | €1,818 | €1,416 | -€401 | -22.1% |
| Other amounts payable | 47/48 | €183,040 | €305,014 | +€121,974 | +66.6% |
| Accrued charges and deferred income | 492/3 | €1,208 | €1,208 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,929 | €88,076 | +€20,147 | +29.7% |
| Other operating charges | 640/8 | €750 | €1,442 | +€692 | +92.2% |
| Gross operating margin | 9900 | -€142,704 | -€103,072 | +€39,632 | +27.8% |
| Operating profit (loss) | 9901 | -€211,383 | -€192,590 | +€18,793 | +8.9% |
| Financial income | 75/76B | €74 | €274 | +€201 | +272% |
| Recurring financial income | 75 | €74 | €274 | +€201 | +272% |
| Financial charges | 65/66B | €2,860 | €2,298 | -€562 | -19.7% |
| Recurring financial charges | 65 | €2,860 | €2,298 | -€562 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | -€214,170 | -€194,614 | +€19,556 | +9.1% |
| Profit (loss) for the period | 9904 | -€214,170 | -€194,614 | +€19,556 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€214,170 | -€194,614 | +€19,556 | +9.1% |
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 30 October 2026 via checked.be.