DELVAL CORPORATE: 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.
DELVAL CORPORATE
Largest movements
- Receivables within one year +€133,372
up €133,372 (+82.5%), from €161,588 to €294,960
of which Trade receivables: +€91,984
- Deferred charges and accrued income -€80,705
down €80,705 (-99.1%), from €81,415 to €711
- Tangible fixed assets -€39,899
down €39,899 (-14.1%), from €283,756 to €243,857
- Cash +€35,357
up €35,357 (+322%), from €10,995 to €46,352
mainly Deferred charges and accrued income (+€80,705) and Net result for the year (+€62,506)
- Profit (loss) carried forward +€62,506
up €62,506 (+66.2%), from €94,354 to €156,860
- Debts after one year -€52,391
down €52,391 (-28.3%), from €184,874 to €132,484
- Other debts +€28,246
up €28,246 (+28.9%), from €97,655 to €125,901
- Trade debts -€21,145
down €21,145 (-30.0%), from €70,395 to €49,249
- Current portion of long-term debt +€15,775
up €15,775 (+49.1%), from €32,151 to €47,927
- Gross operating margin +€164,419
up €164,419 (+48.7%), from €337,868 to €502,287
- Staff costs +€106,499
up €106,499 (+39.9%), from €266,650 to €373,149
- Taxes +€13,599
up €13,599 (+168%), from €8,077 to €21,676
- Financial charges +€6,995
up €6,995 (+195%), from €3,587 to €10,581
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 | €559,181 | €605,306 | +€46,125 | +8.2% |
| Fixed assets | 21/28 | €289,654 | €247,755 | -€41,899 | -14.5% |
| Tangible fixed assets | 22/27 | €283,756 | €243,857 | -€39,899 | -14.1% |
| Plant, machinery and equipment | 23 | €122,100 | €104,071 | -€18,029 | -14.8% |
| Furniture and vehicles | 24 | €43,453 | €29,913 | -€13,541 | -31.2% |
| Other tangible fixed assets | 26 | €118,203 | €109,873 | -€8,329 | -7.0% |
| Financial fixed assets | 28 | €5,898 | €3,898 | -€2,000 | -33.9% |
| Current assets | 29/58 | €269,527 | €357,551 | +€88,024 | +32.7% |
| Stocks and contracts in progress | 3 | €15,528 | €15,528 | = | 0.0% |
| Stocks | 30/36 | €15,528 | €15,528 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €161,588 | €294,960 | +€133,372 | +82.5% |
| Trade receivables | 40 | €134,396 | €226,380 | +€91,984 | +68.4% |
| Other amounts receivable | 41 | €27,193 | €68,580 | +€41,387 | +152% |
| Cash at bank and in hand | 54/58 | €10,995 | €46,352 | +€35,357 | +322% |
| Deferred charges and accrued income | 490/1 | €81,415 | €711 | -€80,705 | -99.1% |
| Total equity and liabilities | 10/49 | €559,181 | €605,306 | +€46,125 | +8.2% |
| Equity | 10/15 | €144,354 | €206,860 | +€62,506 | +43.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,354 | €156,860 | +€62,506 | +66.2% |
| Amounts payable | 17/49 | €414,827 | €398,446 | -€16,381 | -3.9% |
| Amounts payable after more than one year | 17 | €184,874 | €132,484 | -€52,391 | -28.3% |
| Financial debts | 170/4 | €184,874 | €132,484 | -€52,391 | -28.3% |
| Amounts payable within one year | 42/48 | €229,953 | €258,735 | +€28,782 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €32,151 | €47,927 | +€15,775 | +49.1% |
| Trade debts | 44 | €70,395 | €49,249 | -€21,145 | -30.0% |
| Suppliers | 440/4 | €70,395 | €49,249 | -€21,145 | -30.0% |
| Taxes, remuneration and social security | 45 | €29,752 | €35,658 | +€5,906 | +19.9% |
| Taxes | 450/3 | €28,580 | €35,658 | +€7,078 | +24.8% |
| Remuneration and social security | 454/9 | €1,172 | - | -€1,172 | |
| Other amounts payable | 47/48 | €97,655 | €125,901 | +€28,246 | +28.9% |
| Accrued charges and deferred income | 492/3 | - | €7,228 | +€7,228 | |
| Remuneration, social security and pensions | 62 | €266,650 | €373,149 | +€106,499 | +39.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,257 | €31,218 | -€2,039 | -6.1% |
| Other operating charges | 640/8 | €2,326 | €3,167 | +€841 | +36.2% |
| Gross operating margin | 9900 | €337,868 | €502,287 | +€164,419 | +48.7% |
| Operating profit (loss) | 9901 | €35,635 | €94,754 | +€59,119 | +166% |
| Financial income | 75/76B | €1 | €10 | +€9 | +901% |
| Recurring financial income | 75 | €1 | €10 | +€9 | +901% |
| Financial charges | 65/66B | €3,587 | €10,581 | +€6,995 | +195% |
| Recurring financial charges | 65 | €3,587 | €10,581 | +€6,995 | +195% |
| Profit (loss) for the period before taxes | 9903 | €32,049 | €84,182 | +€52,133 | +163% |
| Income taxes | 67/77 | €8,077 | €21,676 | +€13,599 | +168% |
| Profit (loss) for the period | 9904 | €23,972 | €62,506 | +€38,534 | +161% |
| Profit (loss) for the period to be appropriated | 9905 | €23,972 | €62,506 | +€38,534 | +161% |
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 31 October 2026 via checked.be.