DELVER INFRA: 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 INFRA
Largest movements
- Tangible fixed assets -€8,448
down €8,448 (-20.3%), from €41,603 to €33,155
of which Furniture and vehicles: -€8,213
- Cash +€3,582
up €3,582 (+20.4%), from €17,574 to €21,157
mainly Depreciation (+€9,690) and Trade debts (+€1,491)
- Receivables within one year +€849
up €849 (+40.8%), from €2,081 to €2,930
of which Trade receivables: +€1,332
- Deferred charges and accrued income +€687
up €687 (+57.2%), from €1,200 to €1,887
- Other debts -€2,464
down €2,464 (-13.1%), from €18,855 to €16,391
- Tax, wage and social debts -€1,675
down €1,675 (-60.0%), from €2,790 to €1,115
- Trade debts +€1,491
up €1,491 (+39.2%), from €3,799 to €5,289
- Debts after one year -€1,240
down €1,240 (-7.6%), from €16,212 to €14,972
- Write-downs +€7,319
new in 2025: €7,319
- Depreciation +€3,432
up €3,432 (+54.8%), from €6,258 to €9,690
- Taxes -€2,188
down €2,188 (-78.4%), from €2,790 to €602
- Financial charges +€1,691
up €1,691 (+230%), from €736 to €2,427
- Gross operating margin +€931
up €931 (+4.5%), from €20,617 to €21,548
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 | €62,459 | €59,129 | -€3,330 | -5.3% |
| Fixed assets | 21/28 | €41,603 | €33,155 | -€8,448 | -20.3% |
| Tangible fixed assets | 22/27 | €41,603 | €33,155 | -€8,448 | -20.3% |
| Plant, machinery and equipment | 23 | €949 | €714 | -€235 | -24.8% |
| Furniture and vehicles | 24 | €40,654 | €32,441 | -€8,213 | -20.2% |
| Current assets | 29/58 | €20,856 | €25,974 | +€5,118 | +24.5% |
| Amounts receivable within one year | 40/41 | €2,081 | €2,930 | +€849 | +40.8% |
| Trade receivables | 40 | €1,598 | €2,930 | +€1,332 | +83.4% |
| Other amounts receivable | 41 | €483 | €0 | -€483 | -100% |
| Cash at bank and in hand | 54/58 | €17,574 | €21,157 | +€3,582 | +20.4% |
| Deferred charges and accrued income | 490/1 | €1,200 | €1,887 | +€687 | +57.2% |
| Total equity and liabilities | 10/49 | €62,459 | €59,129 | -€3,330 | -5.3% |
| Equity | 10/15 | €14,870 | €15,121 | +€251 | +1.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €9,870 | €10,121 | +€251 | +2.5% |
| Distributable reserves | 133 | €9,870 | €10,121 | +€251 | +2.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €47,588 | €44,008 | -€3,580 | -7.5% |
| Amounts payable after more than one year | 17 | €16,212 | €14,972 | -€1,240 | -7.6% |
| Financial debts | 170/4 | €16,212 | €14,972 | -€1,240 | -7.6% |
| Amounts payable within one year | 42/48 | €31,376 | €29,035 | -€2,340 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €5,932 | €6,240 | +€308 | +5.2% |
| Trade debts | 44 | €3,799 | €5,289 | +€1,491 | +39.2% |
| Suppliers | 440/4 | €3,799 | €5,289 | +€1,491 | +39.2% |
| Taxes, remuneration and social security | 45 | €2,790 | €1,115 | -€1,675 | -60.0% |
| Taxes | 450/3 | €2,790 | €1,115 | -€1,675 | -60.0% |
| Other amounts payable | 47/48 | €18,855 | €16,391 | -€2,464 | -13.1% |
| Non-recurring operating income | 76A | €211 | €0 | -€211 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,258 | €9,690 | +€3,432 | +54.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,319 | +€7,319 | |
| Other operating charges | 640/8 | €130 | €426 | +€296 | +227% |
| Gross operating margin | 9900 | €20,617 | €21,548 | +€931 | +4.5% |
| Operating profit (loss) | 9901 | €14,229 | €4,113 | -€10,116 | -71.1% |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.6% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.6% |
| Financial charges | 65/66B | €736 | €2,427 | +€1,691 | +230% |
| Recurring financial charges | 65 | €736 | €2,427 | +€1,691 | +230% |
| Profit (loss) for the period before taxes | 9903 | €13,493 | €1,686 | -€11,807 | -87.5% |
| Income taxes | 67/77 | €2,790 | €602 | -€2,188 | -78.4% |
| Profit (loss) for the period | 9904 | €10,703 | €1,084 | -€9,620 | -89.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,703 | €1,084 | -€9,620 | -89.9% |
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.