DELVERMA: 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.
DELVERMA
Largest movements
- Stocks and contracts +€36,042
up €36,042 (+4.2%), from €855,966 to €892,008
- Debts after one year +€351,707
up €351,707 (+71.9%), from €489,334 to €841,041
of which Financial debts: +€300,000
- Current portion of long-term debt -€300,000
down €300,000 (-100.0%), from €300,000 to €0
- Profit (loss) carried forward -€26,037
down €26,037 (-1183.1%), from -€2,201 to -€28,238
- Gross operating margin -€1,865
down €1,865 (-47.7%), from -€3,912 to -€5,777
- Financial charges +€1,812
up €1,812 (+12.3%), from €14,758 to €16,570
- Other operating charges +€1,807
up €1,807 (+96.0%), from €1,883 to €3,690
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.
Cash bridge derived
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 | €870,109 | €897,683 | +€27,574 | +3.2% |
| Fixed assets | 21/28 | €5,500 | €5,500 | = | 0.0% |
| Financial fixed assets | 28 | €5,500 | €5,500 | = | 0.0% |
| Current assets | 29/58 | €864,609 | €892,183 | +€27,574 | +3.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €855,966 | €892,008 | +€36,042 | +4.2% |
| Stocks | 30/36 | €855,966 | €892,008 | +€36,042 | +4.2% |
| Amounts receivable within one year | 40/41 | €599 | €99 | -€500 | -83.4% |
| Other amounts receivable | 41 | €599 | €99 | -€500 | -83.4% |
| Cash at bank and in hand | 54/58 | €7,998 | €29 | -€7,969 | -99.6% |
| Deferred charges and accrued income | 490/1 | €46 | €46 | +€1 | +1.5% |
| Total equity and liabilities | 10/49 | €870,109 | €897,683 | +€27,574 | +3.2% |
| Equity | 10/15 | €65,449 | €39,412 | -€26,037 | -39.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€2,201 | -€28,238 | -€26,037 | -1183.1% |
| Amounts payable | 17/49 | €804,660 | €858,271 | +€53,611 | +6.7% |
| Amounts payable after more than one year | 17 | €489,334 | €841,041 | +€351,707 | +71.9% |
| Financial debts | 170/4 | €0 | €300,000 | +€300,000 | |
| Other amounts payable | 178/9 | €489,334 | €541,041 | +€51,707 | +10.6% |
| Amounts payable within one year | 42/48 | €300,072 | €346 | -€299,726 | -99.9% |
| Current portion of amounts payable after more than one year | 42 | €300,000 | €0 | -€300,000 | -100.0% |
| Trade debts | 44 | €72 | €346 | +€274 | +380.0% |
| Suppliers | 440/4 | €72 | €346 | +€274 | +380.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €15,253 | €16,884 | +€1,631 | +10.7% |
| Other operating charges | 640/8 | €1,883 | €3,690 | +€1,807 | +96.0% |
| Gross operating margin | 9900 | -€3,912 | -€5,777 | -€1,865 | -47.7% |
| Operating profit (loss) | 9901 | -€5,795 | -€9,467 | -€3,672 | -63.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €14,758 | €16,570 | +€1,812 | +12.3% |
| Recurring financial charges | 65 | €14,758 | €16,570 | +€1,812 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | -€20,553 | -€26,037 | -€5,484 | -26.7% |
| Profit (loss) for the period | 9904 | -€20,553 | -€26,037 | -€5,484 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,553 | -€26,037 | -€5,484 | -26.7% |
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 12 October 2026 via checked.be.