DELUSI: 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.
DELUSI
Largest movements
- Receivables within one year +€59,694
up €59,694 (+67.0%), from €89,094 to €148,789
of which Other amounts receivable: +€62,323
- Tangible fixed assets -€28,220
down €28,220 (-9.4%), from €301,423 to €273,203
of which Land and buildings: -€14,260
- Reserves +€29,273
up €29,273 (+91.9%), from €31,860 to €61,133
- Trade debts +€20,588
up €20,588 (+19.3%), from €106,770 to €127,358
- Current portion of long-term debt -€16,791
down €16,791 (-41.4%), from €40,606 to €23,815
- Tax, wage and social debts -€10,471
no longer reported in 2025 (was €10,471)
of which Remuneration and social security: -€5,590
- Debts after one year +€6,408
up €6,408 (+3.5%), from €181,852 to €188,260
- Gross operating margin +€49,388
up €49,388 (+43.1%), from €114,530 to €163,918
- Taxes +€8,488
up €8,488 (+2,750%), from €309 to €8,797
- Staff costs -€3,138
down €3,138 (-3.6%), from €87,708 to €84,570
- Depreciation -€2,258
down €2,258 (-7.1%), from €31,717 to €29,459
- Provisions +€2,200
no longer reported in 2025 (was -€2,200)
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 | €403,069 | €433,345 | +€30,275 | +7.5% |
| Fixed assets | 21/28 | €301,826 | €273,656 | -€28,170 | -9.3% |
| Tangible fixed assets | 22/27 | €301,423 | €273,203 | -€28,220 | -9.4% |
| Land and buildings | 22 | €244,980 | €230,720 | -€14,260 | -5.8% |
| Plant, machinery and equipment | 23 | €8,050 | €3,871 | -€4,179 | -51.9% |
| Furniture and vehicles | 24 | €7,268 | €6,139 | -€1,129 | -15.5% |
| Leasing and similar rights | 25 | €41,125 | €32,473 | -€8,652 | -21.0% |
| Financial fixed assets | 28 | €403 | €453 | +€50 | +12.4% |
| Current assets | 29/58 | €101,243 | €159,689 | +€58,446 | +57.7% |
| Stocks and contracts in progress | 3 | €9,076 | €10,900 | +€1,824 | +20.1% |
| Stocks | 30/36 | €9,076 | €10,900 | +€1,824 | +20.1% |
| Amounts receivable within one year | 40/41 | €89,094 | €148,789 | +€59,694 | +67.0% |
| Trade receivables | 40 | €75,570 | €72,942 | -€2,628 | -3.5% |
| Other amounts receivable | 41 | €13,524 | €75,847 | +€62,323 | +461% |
| Cash at bank and in hand | 54/58 | €1,873 | - | -€1,873 | |
| Deferred charges and accrued income | 490/1 | €1,200 | - | -€1,200 | |
| Total equity and liabilities | 10/49 | €403,069 | €433,345 | +€30,275 | +7.5% |
| Equity | 10/15 | €39,062 | €68,335 | +€29,273 | +74.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €31,860 | €61,133 | +€29,273 | +91.9% |
| Distributable reserves | 133 | €31,860 | €61,133 | +€29,273 | +91.9% |
| Profit (loss) carried forward | 14 | €1,002 | €1,002 | = | 0.0% |
| Amounts payable | 17/49 | €364,007 | €365,009 | +€1,002 | +0.3% |
| Amounts payable after more than one year | 17 | €181,852 | €188,260 | +€6,408 | +3.5% |
| Financial debts | 170/4 | €181,852 | €188,260 | +€6,408 | +3.5% |
| Amounts payable within one year | 42/48 | €157,847 | €156,887 | -€960 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €40,606 | €23,815 | -€16,791 | -41.4% |
| Financial debts | 43 | - | €5,714 | +€5,714 | |
| Credit institutions | 430/8 | - | €5,714 | +€5,714 | |
| Trade debts | 44 | €106,770 | €127,358 | +€20,588 | +19.3% |
| Suppliers | 440/4 | €106,770 | €127,358 | +€20,588 | +19.3% |
| Taxes, remuneration and social security | 45 | €10,471 | - | -€10,471 | |
| Taxes | 450/3 | €4,881 | - | -€4,881 | |
| Remuneration and social security | 454/9 | €5,590 | - | -€5,590 | |
| Accrued charges and deferred income | 492/3 | €24,308 | €19,862 | -€4,446 | -18.3% |
| Remuneration, social security and pensions | 62 | €87,708 | €84,570 | -€3,138 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,717 | €29,459 | -€2,258 | -7.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,200 | - | +€2,200 | |
| Other operating charges | 640/8 | €3,578 | €4,169 | +€591 | +16.5% |
| Gross operating margin | 9900 | €114,530 | €163,918 | +€49,388 | +43.1% |
| Operating profit (loss) | 9901 | -€6,273 | €45,720 | +€51,993 | |
| Financial income | 75/76B | €359 | €1,366 | +€1,007 | +281% |
| Recurring financial income | 75 | €359 | €1,366 | +€1,007 | +281% |
| Financial charges | 65/66B | €7,987 | €9,017 | +€1,030 | +12.9% |
| Recurring financial charges | 65 | €7,987 | €9,017 | +€1,030 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,901 | €38,070 | +€51,971 | |
| Income taxes | 67/77 | €309 | €8,797 | +€8,488 | +2,750% |
| Profit (loss) for the period | 9904 | -€14,209 | €29,273 | +€43,482 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,209 | €29,273 | +€43,482 |
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 19 October 2026 via checked.be.