DELVAUX SERVICES: 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 SERVICES
Largest movements
- Cash +€30,495
up €30,495 (+43.6%), from €69,905 to €100,399
mainly Depreciation (+€70,315) and Receivables within one year (+€27,005)
- Receivables within one year -€27,005
down €27,005 (-30.8%), from €87,792 to €60,786
of which Trade receivables: -€31,448
- Tangible fixed assets -€21,048
down €21,048 (-10.9%), from €192,918 to €171,871
of which Plant, machinery and equipment: -€10,861
- Deferred charges and accrued income +€3,851
up €3,851 (+93.5%), from €4,117 to €7,967
- Investment grants -€10,000
down €10,000 (-22.7%), from €44,100 to €34,100
- Current portion of long-term debt +€8,439
up €8,439 (+18.0%), from €46,894 to €55,333
- Tax, wage and social debts -€8,204
down €8,204 (-40.2%), from €20,400 to €12,195
of which Taxes: -€11,797
- Debts after one year -€5,333
down €5,333 (-12.7%), from €42,000 to €36,667
- Other debts -€4,788
down €4,788 (-8.5%), from €56,332 to €51,543
- Gross operating margin -€22,065
down €22,065 (-21.2%), from €104,264 to €82,199
- Depreciation -€6,541
down €6,541 (-8.5%), from €76,857 to €70,315
- Taxes -€4,945
down €4,945 (-55.2%), from €8,955 to €4,010
- Financial income -€4,319
down €4,319 (-91.6%), from €4,715 to €396
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 | €361,232 | €347,524 | -€13,708 | -3.8% |
| Fixed assets | 21/28 | €199,418 | €178,371 | -€21,048 | -10.6% |
| Tangible fixed assets | 22/27 | €192,918 | €171,871 | -€21,048 | -10.9% |
| Land and buildings | 22 | €67,342 | €64,223 | -€3,119 | -4.6% |
| Plant, machinery and equipment | 23 | €113,072 | €102,211 | -€10,861 | -9.6% |
| Furniture and vehicles | 24 | €12,504 | €5,436 | -€7,068 | -56.5% |
| Financial fixed assets | 28 | €6,500 | €6,500 | = | 0.0% |
| Current assets | 29/58 | €161,813 | €169,153 | +€7,340 | +4.5% |
| Amounts receivable within one year | 40/41 | €87,792 | €60,786 | -€27,005 | -30.8% |
| Trade receivables | 40 | €83,894 | €52,446 | -€31,448 | -37.5% |
| Other amounts receivable | 41 | €3,897 | €8,340 | +€4,443 | +114% |
| Cash at bank and in hand | 54/58 | €69,905 | €100,399 | +€30,495 | +43.6% |
| Deferred charges and accrued income | 490/1 | €4,117 | €7,967 | +€3,851 | +93.5% |
| Total equity and liabilities | 10/49 | €361,232 | €347,524 | -€13,708 | -3.8% |
| Equity | 10/15 | €154,823 | €149,588 | -€5,235 | -3.4% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €3,075 | €3,075 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,175 | €1,175 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,648 | €93,413 | +€4,765 | +5.4% |
| Investment grants | 15 | €44,100 | €34,100 | -€10,000 | -22.7% |
| Amounts payable | 17/49 | €206,409 | €197,936 | -€8,473 | -4.1% |
| Amounts payable after more than one year | 17 | €42,000 | €36,667 | -€5,333 | -12.7% |
| Financial debts | 170/4 | €42,000 | €36,667 | -€5,333 | -12.7% |
| Amounts payable within one year | 42/48 | €164,409 | €161,269 | -€3,139 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €46,894 | €55,333 | +€8,439 | +18.0% |
| Trade debts | 44 | €40,783 | €42,197 | +€1,414 | +3.5% |
| Suppliers | 440/4 | €40,783 | €42,197 | +€1,414 | +3.5% |
| Taxes, remuneration and social security | 45 | €20,400 | €12,195 | -€8,204 | -40.2% |
| Taxes | 450/3 | €18,400 | €6,603 | -€11,797 | -64.1% |
| Remuneration and social security | 454/9 | €2,000 | €5,593 | +€3,593 | +180% |
| Other amounts payable | 47/48 | €56,332 | €51,543 | -€4,788 | -8.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,857 | €70,315 | -€6,541 | -8.5% |
| Other operating charges | 640/8 | €1,889 | €2,325 | +€436 | +23.1% |
| Gross operating margin | 9900 | €104,264 | €82,199 | -€22,065 | -21.2% |
| Operating profit (loss) | 9901 | €25,518 | €9,558 | -€15,960 | -62.5% |
| Financial income | 75/76B | €4,715 | €396 | -€4,319 | -91.6% |
| Recurring financial income | 75 | €4,715 | €396 | -€4,319 | -91.6% |
| Financial charges | 65/66B | €1,242 | €1,180 | -€62 | -5.0% |
| Recurring financial charges | 65 | €1,242 | €1,180 | -€62 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €28,992 | €8,775 | -€20,217 | -69.7% |
| Income taxes | 67/77 | €8,955 | €4,010 | -€4,945 | -55.2% |
| Profit (loss) for the period | 9904 | €20,037 | €4,765 | -€15,272 | -76.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,037 | €4,765 | -€15,272 | -76.2% |
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 29 October 2026 via checked.be.