DELVAC: 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.
DELVAC
Largest movements
- Receivables within one year +€57,320
up €57,320 (+215%), from €26,715 to €84,035
of which Trade receivables: +€56,863
- Tangible fixed assets +€24,043
up €24,043 (+27.4%), from €87,798 to €111,841
of which Leasing and similar rights: +€66,071
- Cash +€3,966
up €3,966 (+19.1%), from €20,805 to €24,771
mainly Depreciation (+€48,197) and Debts after one year (+€41,657)
- Debts after one year +€41,657
up €41,657 (+57.2%), from €72,873 to €114,530
- Tax, wage and social debts +€19,106
up €19,106 (+154%), from €12,402 to €31,508
of which Remuneration and social security: +€15,068
- Reserves +€10,000
up €10,000 (+60.2%), from €16,607 to €26,607
- Current portion of long-term debt +€8,683
up €8,683 (+73.1%), from €11,879 to €20,562
- Profit (loss) carried forward +€8,053
up €8,053 (+72.6%), from €11,093 to €19,146
- Gross operating margin +€26,087
up €26,087 (+38.6%), from €67,548 to €93,635
- Taxes +€12,057
up €12,057 (+211%), from €5,702 to €17,759
- Financial charges -€2,346
down €2,346 (-26.7%), from €8,776 to €6,430
- Depreciation +€1,055
up €1,055 (+2.2%), from €47,142 to €48,197
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 | €135,454 | €220,784 | +€85,330 | +63.0% |
| Fixed assets | 21/28 | €87,798 | €111,841 | +€24,043 | +27.4% |
| Tangible fixed assets | 22/27 | €87,798 | €111,841 | +€24,043 | +27.4% |
| Plant, machinery and equipment | 23 | €786 | - | -€786 | |
| Furniture and vehicles | 24 | €78,268 | €37,026 | -€41,242 | -52.7% |
| Leasing and similar rights | 25 | €8,744 | €74,815 | +€66,071 | +756% |
| Current assets | 29/58 | €47,657 | €108,943 | +€61,286 | +129% |
| Amounts receivable within one year | 40/41 | €26,715 | €84,035 | +€57,320 | +215% |
| Trade receivables | 40 | €22,316 | €79,179 | +€56,863 | +255% |
| Other amounts receivable | 41 | €4,399 | €4,856 | +€457 | +10.4% |
| Cash at bank and in hand | 54/58 | €20,805 | €24,771 | +€3,966 | +19.1% |
| Deferred charges and accrued income | 490/1 | €137 | €137 | -€0 | 0.0% |
| Total equity and liabilities | 10/49 | €135,454 | €220,784 | +€85,330 | +63.0% |
| Equity | 10/15 | €32,700 | €50,753 | +€18,053 | +55.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €16,607 | €26,607 | +€10,000 | +60.2% |
| Distributable reserves | 133 | €16,607 | €26,607 | +€10,000 | +60.2% |
| Profit (loss) carried forward | 14 | €11,093 | €19,146 | +€8,053 | +72.6% |
| Amounts payable | 17/49 | €102,754 | €170,031 | +€67,277 | +65.5% |
| Amounts payable after more than one year | 17 | €72,873 | €114,530 | +€41,657 | +57.2% |
| Financial debts | 170/4 | €72,873 | €114,530 | +€41,657 | +57.2% |
| Amounts payable within one year | 42/48 | €29,880 | €55,501 | +€25,621 | +85.7% |
| Current portion of amounts payable after more than one year | 42 | €11,879 | €20,562 | +€8,683 | +73.1% |
| Trade debts | 44 | €5,599 | €3,431 | -€2,168 | -38.7% |
| Suppliers | 440/4 | €5,599 | €3,431 | -€2,168 | -38.7% |
| Taxes, remuneration and social security | 45 | €12,402 | €31,508 | +€19,106 | +154% |
| Taxes | 450/3 | €5,702 | €9,740 | +€4,038 | +70.8% |
| Remuneration and social security | 454/9 | €6,700 | €21,768 | +€15,068 | +225% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,142 | €48,197 | +€1,055 | +2.2% |
| Other operating charges | 640/8 | €3,274 | €3,197 | -€77 | -2.4% |
| Gross operating margin | 9900 | €67,548 | €93,635 | +€26,087 | +38.6% |
| Operating profit (loss) | 9901 | €17,131 | €42,241 | +€25,110 | +147% |
| Financial income | 75/76B | €0 | €1 | +€1 | +4,900% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +4,900% |
| Financial charges | 65/66B | €8,776 | €6,430 | -€2,346 | -26.7% |
| Recurring financial charges | 65 | €8,776 | €6,430 | -€2,346 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | €8,355 | €35,812 | +€27,457 | +329% |
| Income taxes | 67/77 | €5,702 | €17,759 | +€12,057 | +211% |
| Profit (loss) for the period | 9904 | €2,653 | €18,053 | +€15,400 | +580% |
| Profit (loss) for the period to be appropriated | 9905 | €2,653 | €18,053 | +€15,400 | +580% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.