DELTHO: 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.
DELTHO
Largest movements
- Tangible fixed assets +€173,248
up €173,248 (+25.0%), from €693,594 to €866,841
of which Land and buildings: +€147,578
- Cash -€19,448
down €19,448 (-88.4%), from €21,994 to €2,546
mainly Investment in fixed assets (net) (-€207,927) and Net result for the year (-€45,938)
- Other debts +€194,000
up €194,000 (+24.1%), from €805,024 to €999,024
- Profit (loss) carried forward -€45,938
down €45,938 (-348.4%), from -€13,187 to -€59,125
- Depreciation +€38,992
new in 2025: €38,992
- Gross operating margin +€12,974
up €12,974, from -€12,658 to €316
- Other operating charges +€6,706
up €6,706 (+1414.3%), from €474 to €7,180
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 | €801,837 | €951,324 | +€149,487 | +18.6% |
| Fixed assets | 21/28 | €779,844 | €948,779 | +€168,935 | +21.7% |
| Intangible fixed assets | 21 | €86,250 | €81,938 | -€4,313 | -5.0% |
| Tangible fixed assets | 22/27 | €693,594 | €866,841 | +€173,248 | +25.0% |
| Land and buildings | 22 | €693,594 | €841,171 | +€147,578 | +21.3% |
| Furniture and vehicles | 24 | - | €25,670 | +€25,670 | |
| Current assets | 29/58 | €21,994 | €2,546 | -€19,448 | -88.4% |
| Cash at bank and in hand | 54/58 | €21,994 | €2,546 | -€19,448 | -88.4% |
| Total equity and liabilities | 10/49 | €801,837 | €951,324 | +€149,487 | +18.6% |
| Equity | 10/15 | -€3,187 | -€49,125 | -€45,938 | -1441.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,187 | -€59,125 | -€45,938 | -348.4% |
| Amounts payable | 17/49 | €805,024 | €1,000,449 | +€195,425 | +24.3% |
| Amounts payable within one year | 42/48 | €805,024 | €999,024 | +€194,000 | +24.1% |
| Other amounts payable | 47/48 | €805,024 | €999,024 | +€194,000 | +24.1% |
| Accrued charges and deferred income | 492/3 | - | €1,425 | +€1,425 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €38,992 | +€38,992 | |
| Other operating charges | 640/8 | €474 | €7,180 | +€6,706 | +1414.3% |
| Gross operating margin | 9900 | -€12,658 | €316 | +€12,974 | |
| Operating profit (loss) | 9901 | -€13,132 | -€45,856 | -€32,724 | -249.2% |
| Financial charges | 65/66B | €55 | €81 | +€27 | +49.2% |
| Recurring financial charges | 65 | €55 | €81 | +€27 | +49.2% |
| Profit (loss) for the period before taxes | 9903 | -€13,187 | -€45,938 | -€32,751 | -248.4% |
| Profit (loss) for the period | 9904 | -€13,187 | -€45,938 | -€32,751 | -248.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,187 | -€45,938 | -€32,751 | -248.4% |
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 28 September 2026 via checked.be.