DELTHA IMMO: 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.
DELTHA IMMO
Largest movements
- Cash -€183,415
down €183,415 (-98.8%), from €185,614 to €2,199
mainly Investment in fixed assets (net) (-€315,369) and Debts after one year (-€142,270)
- Tangible fixed assets +€177,557
up €177,557 (+11.2%), from €1.6m to €1.8m
of which Land and buildings: +€181,901
- Receivables within one year -€113,369
down €113,369 (-52.9%), from €214,239 to €100,871
of which Trade receivables: -€62,500
- Debts after one year -€142,270
down €142,270 (-6.6%), from €2.2m to €2.0m
- Gross operating margin +€67,084
up €67,084 (+53.5%), from €125,311 to €192,395
- Depreciation +€48,311
up €48,311 (+61.2%), from €78,925 to €127,236
- Financial income +€4,618
up €4,618 (+19.6%), from €23,507 to €28,124
- Financial charges +€2,559
up €2,559 (+2.8%), from €92,381 to €94,940
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 | €2,744,570 | €2,661,873 | -€82,698 | -3.0% |
| Fixed assets | 21/28 | €1,584,230 | €1,772,363 | +€188,133 | +11.9% |
| Intangible fixed assets | 21 | - | €10,576 | +€10,576 | |
| Tangible fixed assets | 22/27 | €1,584,230 | €1,761,787 | +€177,557 | +11.2% |
| Land and buildings | 22 | €1,545,129 | €1,727,030 | +€181,901 | +11.8% |
| Leasing and similar rights | 25 | €39,101 | €34,757 | -€4,345 | -11.1% |
| Current assets | 29/58 | €1,160,340 | €889,510 | -€270,830 | -23.3% |
| Amounts receivable after more than one year | 29 | €736,980 | €736,980 | = | 0.0% |
| Other amounts receivable | 291 | €736,980 | €736,980 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €214,239 | €100,871 | -€113,369 | -52.9% |
| Trade receivables | 40 | €62,500 | €0 | -€62,500 | -100.0% |
| Other amounts receivable | 41 | €151,739 | €100,871 | -€50,869 | -33.5% |
| Cash at bank and in hand | 54/58 | €185,614 | €2,199 | -€183,415 | -98.8% |
| Deferred charges and accrued income | 490/1 | €23,507 | €49,460 | +€25,953 | +110.4% |
| Total equity and liabilities | 10/49 | €2,744,570 | €2,661,873 | -€82,698 | -3.0% |
| Equity | 10/15 | €411,362 | €402,508 | -€8,854 | -2.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Revaluation surpluses | 12 | €498,387 | €498,387 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€112,026 | -€120,880 | -€8,854 | -7.9% |
| Amounts payable | 17/49 | €2,333,209 | €2,259,365 | -€73,844 | -3.2% |
| Amounts payable after more than one year | 17 | €2,158,582 | €2,016,311 | -€142,270 | -6.6% |
| Financial debts | 170/4 | €2,158,582 | €2,016,311 | -€142,270 | -6.6% |
| Amounts payable within one year | 42/48 | €172,123 | €236,901 | +€64,778 | +37.6% |
| Current portion of amounts payable after more than one year | 42 | €136,615 | €119,123 | -€17,492 | -12.8% |
| Financial debts | 43 | - | €23,698 | +€23,698 | |
| Other loans | 439 | - | €23,698 | +€23,698 | |
| Trade debts | 44 | €11,448 | €25,705 | +€14,258 | +124.5% |
| Suppliers | 440/4 | €11,448 | €25,705 | +€14,258 | +124.5% |
| Advances received on contracts in progress | 46 | - | €19,830 | +€19,830 | |
| Taxes, remuneration and social security | 45 | €589 | €589 | = | 0.0% |
| Taxes | 450/3 | €589 | €589 | = | 0.0% |
| Other amounts payable | 47/48 | €23,471 | €47,955 | +€24,484 | +104.3% |
| Accrued charges and deferred income | 492/3 | €2,504 | €6,153 | +€3,649 | +145.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,925 | €127,236 | +€48,311 | +61.2% |
| Other operating charges | 640/8 | €7,007 | €7,196 | +€189 | +2.7% |
| Gross operating margin | 9900 | €125,311 | €192,395 | +€67,084 | +53.5% |
| Operating profit (loss) | 9901 | €39,378 | €57,962 | +€18,584 | +47.2% |
| Financial income | 75/76B | €23,507 | €28,124 | +€4,618 | +19.6% |
| Recurring financial income | 75 | €23,507 | €28,124 | +€4,618 | +19.6% |
| Financial charges | 65/66B | €92,381 | €94,940 | +€2,559 | +2.8% |
| Recurring financial charges | 65 | €92,381 | €94,940 | +€2,559 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | -€29,496 | -€8,854 | +€20,642 | +70.0% |
| Profit (loss) for the period | 9904 | -€29,496 | -€8,854 | +€20,642 | +70.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,496 | -€8,854 | +€20,642 | +70.0% |
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 6 October 2026 via checked.be.