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 +€13,793
up €13,793 (+202%), from €6,829 to €20,622
mainly Trade debts (+€13,289) and Net result for the year (+€8,345)
- Deferred charges and accrued income +€11,435
up €11,435 (+261%), from €4,379 to €15,814
- Tangible fixed assets -€3,842
down €3,842 (-45.4%), from €8,464 to €4,622
- Formation expenses -€605
down €605 (-33.9%), from €1,784 to €1,179
- Receivables within one year -€545
down €545 (-9.8%), from €5,545 to €5,000
of which Trade receivables: -€545
- Trade debts +€13,289
up €13,289 (+1,437%), from €925 to €14,214
- Profit (loss) carried forward +€6,679
up €6,679, from -€5,059 to €1,621
- Short-term financial debts +€4,000
new in 2025: €4,000
- Other debts -€3,180
down €3,180 (-14.3%), from €22,191 to €19,011
- Tax, wage and social debts -€551
down €551 (-28.4%), from €1,943 to €1,392
- Gross operating margin +€13,152
up €13,152 (+292%), from €4,507 to €17,659
- Taxes +€2,746
up €2,746 (+1,486%), from €185 to €2,931
- Financial income +€416
up €416 (+1,386,600%), from €0 to €416
- Financial charges -€404
down €404 (-14.7%), from €2,756 to €2,352
- Other operating charges -€339
down €339 (-100%), from €339 to €0
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 | €27,001 | €47,237 | +€20,236 | +74.9% |
| Formation expenses | 20 | €1,784 | €1,179 | -€605 | -33.9% |
| Fixed assets | 21/28 | €8,464 | €4,622 | -€3,842 | -45.4% |
| Tangible fixed assets | 22/27 | €8,464 | €4,622 | -€3,842 | -45.4% |
| Furniture and vehicles | 24 | €8,464 | €4,622 | -€3,842 | -45.4% |
| Current assets | 29/58 | €16,753 | €41,436 | +€24,684 | +147% |
| Amounts receivable within one year | 40/41 | €5,545 | €5,000 | -€545 | -9.8% |
| Trade receivables | 40 | €545 | €0 | -€545 | -100% |
| Other amounts receivable | 41 | €5,000 | €5,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,829 | €20,622 | +€13,793 | +202% |
| Deferred charges and accrued income | 490/1 | €4,379 | €15,814 | +€11,435 | +261% |
| Total equity and liabilities | 10/49 | €27,001 | €47,237 | +€20,236 | +74.9% |
| Equity | 10/15 | €1,941 | €8,621 | +€6,679 | +344% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,059 | €1,621 | +€6,679 | |
| Amounts payable | 17/49 | €25,059 | €38,616 | +€13,557 | +54.1% |
| Amounts payable within one year | 42/48 | €25,059 | €38,616 | +€13,557 | +54.1% |
| Financial debts | 43 | - | €4,000 | +€4,000 | |
| Credit institutions | 430/8 | - | €4,000 | +€4,000 | |
| Trade debts | 44 | €925 | €14,214 | +€13,289 | +1,437% |
| Suppliers | 440/4 | €925 | €14,214 | +€13,289 | +1,437% |
| Taxes, remuneration and social security | 45 | €1,943 | €1,392 | -€551 | -28.4% |
| Taxes | 450/3 | €1,943 | €1,392 | -€551 | -28.4% |
| Other amounts payable | 47/48 | €22,191 | €19,011 | -€3,180 | -14.3% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,168 | €4,447 | +€279 | +6.7% |
| Other operating charges | 640/8 | €339 | €0 | -€339 | -100% |
| Gross operating margin | 9900 | €4,507 | €17,659 | +€13,152 | +292% |
| Operating profit (loss) | 9901 | €1 | €13,212 | +€13,211 | +1,376,163% |
| Financial income | 75/76B | €0 | €416 | +€416 | +1,386,600% |
| Recurring financial income | 75 | €0 | €416 | +€416 | +1,386,600% |
| Financial charges | 65/66B | €2,756 | €2,352 | -€404 | -14.7% |
| Recurring financial charges | 65 | €2,756 | €2,352 | -€404 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,755 | €11,276 | +€14,031 | |
| Income taxes | 67/77 | €185 | €2,931 | +€2,746 | +1,486% |
| Profit (loss) for the period | 9904 | -€2,940 | €8,345 | +€11,285 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,940 | €8,345 | +€11,285 |
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 14 October 2026 via checked.be.