delver.be: 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.
delver.be
Largest movements
- Tangible fixed assets +€230,697
up €230,697 (+147%), from €156,737 to €387,434
of which Land and buildings: +€233,165
- Financial fixed assets -€206,017
down €206,017 (-100%), from €206,017 to €0
- Stocks and contracts +€188,848
new in 2025: €188,848
- Receivables within one year -€24,846
down €24,846 (-92.7%), from €26,806 to €1,960
of which Other amounts receivable: -€14,279
- Cash -€7,791
down €7,791 (-97.1%), from €8,020 to €229
mainly Stocks and contracts (-€188,848) and Investment in fixed assets (net) (-€68,424)
- Trade debts +€129,126
up €129,126, from €0 to €129,126
- Other debts +€118,022
up €118,022 (+26.7%), from €441,918 to €559,940
- Profit (loss) carried forward -€56,695
down €56,695 (-65.4%), from -€86,686 to -€143,381
- Financial income +€21,469
up €21,469 (+107,346,650%), from €0 to €21,469
- Depreciation -€18,227
down €18,227 (-29.4%), from €61,970 to €43,743
- Gross operating margin -€17,864
down €17,864 (-139%), from -€12,854 to -€30,718
- Financial charges -€1,232
down €1,232 (-44.3%), from €2,781 to €1,548
- Other operating charges +€1,115
up €1,115 (+101%), from €1,101 to €2,216
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 | €399,190 | €582,681 | +€183,490 | +46.0% |
| Fixed assets | 21/28 | €362,754 | €387,434 | +€24,680 | +6.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €156,737 | €387,434 | +€230,697 | +147% |
| Land and buildings | 22 | - | €233,165 | +€233,165 | |
| Plant, machinery and equipment | 23 | €4,313 | €3,505 | -€809 | -18.7% |
| Furniture and vehicles | 24 | €149,600 | €140,646 | -€8,954 | -6.0% |
| Other tangible fixed assets | 26 | €2,823 | €10,118 | +€7,294 | +258% |
| Financial fixed assets | 28 | €206,017 | €0 | -€206,017 | -100% |
| Current assets | 29/58 | €36,437 | €195,247 | +€158,810 | +436% |
| Stocks and contracts in progress | 3 | - | €188,848 | +€188,848 | |
| Stocks | 30/36 | - | €188,848 | +€188,848 | |
| Amounts receivable within one year | 40/41 | €26,806 | €1,960 | -€24,846 | -92.7% |
| Trade receivables | 40 | €12,527 | €1,960 | -€10,567 | -84.4% |
| Other amounts receivable | 41 | €14,279 | €0 | -€14,279 | -100% |
| Cash at bank and in hand | 54/58 | €8,020 | €229 | -€7,791 | -97.1% |
| Deferred charges and accrued income | 490/1 | €1,611 | €4,210 | +€2,599 | +161% |
| Total equity and liabilities | 10/49 | €399,190 | €582,681 | +€183,490 | +46.0% |
| Equity | 10/15 | -€54,457 | -€111,153 | -€56,695 | -104% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,629 | €13,629 | = | 0.0% |
| Distributable reserves | 133 | €13,629 | €13,629 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,686 | -€143,381 | -€56,695 | -65.4% |
| Amounts payable | 17/49 | €453,647 | €693,833 | +€240,186 | +52.9% |
| Amounts payable within one year | 42/48 | €451,063 | €692,516 | +€241,454 | +53.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €728 | €292 | -€436 | -59.9% |
| Credit institutions | 430/8 | €728 | €292 | -€436 | -59.9% |
| Trade debts | 44 | €0 | €129,126 | +€129,126 | |
| Suppliers | 440/4 | €0 | €129,126 | +€129,126 | |
| Taxes, remuneration and social security | 45 | €8,417 | €3,158 | -€5,259 | -62.5% |
| Taxes | 450/3 | €8,417 | €3,158 | -€5,259 | -62.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €441,918 | €559,940 | +€118,022 | +26.7% |
| Accrued charges and deferred income | 492/3 | €2,585 | €1,317 | -€1,268 | -49.1% |
| Non-recurring operating income | 76A | - | €23,829 | +€23,829 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,970 | €43,743 | -€18,227 | -29.4% |
| Other operating charges | 640/8 | €1,101 | €2,216 | +€1,115 | +101% |
| Non-recurring operating charges | 66A | €7,651 | €0 | -€7,651 | -100% |
| Gross operating margin | 9900 | -€12,854 | -€30,718 | -€17,864 | -139% |
| Operating profit (loss) | 9901 | -€83,576 | -€76,677 | +€6,899 | +8.3% |
| Financial income | 75/76B | €0 | €21,469 | +€21,469 | +107,346,650% |
| Recurring financial income | 75 | €0 | €21,469 | +€21,469 | +107,346,650% |
| Financial charges | 65/66B | €2,781 | €1,548 | -€1,232 | -44.3% |
| Recurring financial charges | 65 | €2,781 | €1,548 | -€1,232 | -44.3% |
| Profit (loss) for the period before taxes | 9903 | -€86,357 | -€56,756 | +€29,601 | +34.3% |
| Income taxes | 67/77 | €329 | -€61 | -€390 | |
| Profit (loss) for the period | 9904 | -€86,686 | -€56,695 | +€29,990 | +34.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€86,686 | -€56,695 | +€29,990 | +34.6% |
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 15 October 2026 via checked.be.