DELU: 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.
DELU
Largest movements
- Cash -€8,119
down €8,119 (-13.3%), from €61,143 to €53,025
mainly Investment in fixed assets (net) (-€6,796) and Receivables within one year (-€4,622)
- Tangible fixed assets +€5,634
up €5,634 (+3.8%), from €149,130 to €154,764
of which Land and buildings: +€4,496
- Receivables within one year +€4,622
up €4,622 (+39.1%), from €11,820 to €16,442
- Stocks and contracts -€4,150
down €4,150 (-28.3%), from €14,679 to €10,529
- Trade debts +€6,337
up €6,337 (+528%), from €1,200 to €7,537
- Other debts -€3,723
down €3,723 (-26.8%), from €13,916 to €10,193
- Reserves -€3,281
down €3,281 (-4.7%), from €69,231 to €65,950
of which Distributable reserves: -€3,281
- Gross operating margin +€11,224
up €11,224, from -€9,786 to €1,437
- Financial charges -€228
down €228 (-68.1%), from €335 to €107
- Depreciation -€210
down €210 (-15.3%), from €1,372 to €1,162
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 | €241,933 | €237,922 | -€4,011 | -1.7% |
| Fixed assets | 21/28 | €149,130 | €154,764 | +€5,634 | +3.8% |
| Tangible fixed assets | 22/27 | €149,130 | €154,764 | +€5,634 | +3.8% |
| Land and buildings | 22 | €143,785 | €148,282 | +€4,496 | +3.1% |
| Plant, machinery and equipment | 23 | €0 | €1,253 | +€1,253 | |
| Furniture and vehicles | 24 | €5,345 | €5,230 | -€115 | -2.2% |
| Current assets | 29/58 | €92,803 | €83,158 | -€9,645 | -10.4% |
| Stocks and contracts in progress | 3 | €14,679 | €10,529 | -€4,150 | -28.3% |
| Stocks | 30/36 | €14,679 | €10,529 | -€4,150 | -28.3% |
| Amounts receivable within one year | 40/41 | €11,820 | €16,442 | +€4,622 | +39.1% |
| Trade receivables | 40 | €11,820 | €16,442 | +€4,622 | +39.1% |
| Cash at bank and in hand | 54/58 | €61,143 | €53,025 | -€8,119 | -13.3% |
| Deferred charges and accrued income | 490/1 | €5,160 | €3,162 | -€1,998 | -38.7% |
| Total equity and liabilities | 10/49 | €241,933 | €237,922 | -€4,011 | -1.7% |
| Equity | 10/15 | €219,231 | €215,950 | -€3,281 | -1.5% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €69,231 | €65,950 | -€3,281 | -4.7% |
| Non-distributable reserves | 130/1 | €24,789 | €24,789 | = | 0.0% |
| Legal reserve | 130 | €24,789 | €24,789 | = | 0.0% |
| Distributable reserves | 133 | €44,442 | €41,161 | -€3,281 | -7.4% |
| Amounts payable | 17/49 | €22,701 | €21,971 | -€730 | -3.2% |
| Amounts payable within one year | 42/48 | €20,351 | €21,112 | +€760 | +3.7% |
| Trade debts | 44 | €1,200 | €7,537 | +€6,337 | +528% |
| Suppliers | 440/4 | €1,200 | €7,537 | +€6,337 | +528% |
| Taxes, remuneration and social security | 45 | €5,235 | €3,381 | -€1,853 | -35.4% |
| Taxes | 450/3 | €3,435 | €1,781 | -€1,653 | -48.1% |
| Remuneration and social security | 454/9 | €1,800 | €1,600 | -€200 | -11.1% |
| Other amounts payable | 47/48 | €13,916 | €10,193 | -€3,723 | -26.8% |
| Accrued charges and deferred income | 492/3 | €2,350 | €860 | -€1,490 | -63.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,372 | €1,162 | -€210 | -15.3% |
| Other operating charges | 640/8 | €3,417 | €3,450 | +€32 | +0.9% |
| Gross operating margin | 9900 | -€9,786 | €1,437 | +€11,224 | |
| Operating profit (loss) | 9901 | -€14,576 | -€3,174 | +€11,401 | +78.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €335 | €107 | -€228 | -68.1% |
| Recurring financial charges | 65 | €335 | €107 | -€228 | -68.1% |
| Profit (loss) for the period before taxes | 9903 | -€14,910 | -€3,281 | +€11,629 | +78.0% |
| Profit (loss) for the period | 9904 | -€14,910 | -€3,281 | +€11,629 | +78.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,910 | -€3,281 | +€11,629 | +78.0% |
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 13 October 2026 via checked.be.