DELVAUX HOLDING: 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.
DELVAUX HOLDING
Largest movements
- Receivables within one year +€11,584
up €11,584 (+2,244%), from €516 to €12,100
of which Trade receivables: +€12,100
- Profit (loss) carried forward +€76,387
up €76,387 (+82.6%), from €92,441 to €168,828
- Debts after one year -€57,391
down €57,391 (-6.6%), from €875,454 to €818,062
of which Financial debts: -€57,391
- Other debts -€12,551
down €12,551 (-42.6%), from €29,488 to €16,937
- Gross operating margin -€6,580
down €6,580 (-4.8%), from €137,937 to €131,357
- Financial charges -€2,359
down €2,359 (-6.3%), from €37,185 to €34,826
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 | €1,082,380 | €1,098,050 | +€15,670 | +1.4% |
| Fixed assets | 21/28 | €1,029,602 | €1,029,602 | = | 0.0% |
| Financial fixed assets | 28 | €1,029,602 | €1,029,602 | = | 0.0% |
| Current assets | 29/58 | €52,779 | €68,448 | +€15,670 | +29.7% |
| Amounts receivable within one year | 40/41 | €516 | €12,100 | +€11,584 | +2,244% |
| Trade receivables | 40 | - | €12,100 | +€12,100 | |
| Other amounts receivable | 41 | €516 | - | -€516 | |
| Cash at bank and in hand | 54/58 | €51,942 | €56,312 | +€4,370 | +8.4% |
| Deferred charges and accrued income | 490/1 | €321 | €36 | -€284 | -88.7% |
| Total equity and liabilities | 10/49 | €1,082,380 | €1,098,050 | +€15,670 | +1.4% |
| Equity | 10/15 | €102,441 | €178,828 | +€76,387 | +74.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,441 | €168,828 | +€76,387 | +82.6% |
| Amounts payable | 17/49 | €979,940 | €919,222 | -€60,718 | -6.2% |
| Amounts payable after more than one year | 17 | €875,454 | €818,062 | -€57,391 | -6.6% |
| Financial debts | 170/4 | €675,454 | €618,062 | -€57,391 | -8.5% |
| Other amounts payable | 178/9 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €97,790 | €94,694 | -€3,096 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €54,936 | €57,391 | +€2,455 | +4.5% |
| Trade debts | 44 | €6,471 | €7,360 | +€889 | +13.7% |
| Suppliers | 440/4 | €6,471 | €7,360 | +€889 | +13.7% |
| Taxes, remuneration and social security | 45 | €6,895 | €13,005 | +€6,110 | +88.6% |
| Taxes | 450/3 | €6,295 | €12,705 | +€6,410 | +102% |
| Remuneration and social security | 454/9 | €600 | €300 | -€300 | -50.0% |
| Other amounts payable | 47/48 | €29,488 | €16,937 | -€12,551 | -42.6% |
| Accrued charges and deferred income | 492/3 | €6,696 | €6,465 | -€231 | -3.4% |
| Gross operating margin | 9900 | €137,937 | €131,357 | -€6,580 | -4.8% |
| Operating profit (loss) | 9901 | €137,937 | €131,357 | -€6,580 | -4.8% |
| Financial income | 75/76B | €321 | €2 | -€318 | -99.2% |
| Recurring financial income | 75 | €321 | €2 | -€318 | -99.2% |
| Financial charges | 65/66B | €37,185 | €34,826 | -€2,359 | -6.3% |
| Recurring financial charges | 65 | €37,185 | €34,826 | -€2,359 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €101,072 | €96,533 | -€4,539 | -4.5% |
| Income taxes | 67/77 | €20,661 | €20,146 | -€516 | -2.5% |
| Profit (loss) for the period | 9904 | €80,411 | €76,387 | -€4,023 | -5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €80,411 | €76,387 | -€4,023 | -5.0% |
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 24 October 2026 via checked.be.