Delvest: 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.
Delvest
Largest movements
- Tangible fixed assets -€4,343
down €4,343 (-19.9%), from €21,848 to €17,505
of which Furniture and vehicles: -€6,636
- Cash -€706
down €706 (-14.1%), from €4,999 to €4,293
mainly Other debts (-€5,686) and Net result for the year (-€5,590)
- Deferred charges and accrued income -€589
down €589 (-100%), from €589 to €0
- Receivables within one year +€579
up €579 (+15.3%), from €3,797 to €4,376
of which Trade receivables: +€1,471
- Other debts -€5,686
down €5,686 (-8.8%), from €64,278 to €58,592
- Profit (loss) carried forward -€5,590
down €5,590 (-14.0%), from -€40,067 to -€45,657
- Tax, wage and social debts +€4,321
new in 2025: €4,321
of which Taxes: +€2,738
- Trade debts +€857
up €857 (+17.1%), from €5,007 to €5,864
- Accrued charges and deferred income +€739
new in 2025: €739
- Gross operating margin +€27,122
up €27,122, from -€23,299 to €3,823
- Other operating charges +€747
up €747 (+172%), from €433 to €1,180
- Depreciation +€627
up €627 (+8.3%), from €7,536 to €8,163
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 | €32,218 | €26,860 | -€5,358 | -16.6% |
| Formation expenses | 20 | €985 | €685 | -€300 | -30.4% |
| Fixed assets | 21/28 | €21,848 | €17,505 | -€4,343 | -19.9% |
| Tangible fixed assets | 22/27 | €21,848 | €17,505 | -€4,343 | -19.9% |
| Plant, machinery and equipment | 23 | €707 | €3,000 | +€2,293 | +324% |
| Furniture and vehicles | 24 | €21,141 | €14,505 | -€6,636 | -31.4% |
| Current assets | 29/58 | €9,385 | €8,669 | -€716 | -7.6% |
| Amounts receivable within one year | 40/41 | €3,797 | €4,376 | +€579 | +15.3% |
| Trade receivables | 40 | €2,905 | €4,376 | +€1,471 | +50.6% |
| Other amounts receivable | 41 | €892 | €0 | -€892 | -100% |
| Cash at bank and in hand | 54/58 | €4,999 | €4,293 | -€706 | -14.1% |
| Deferred charges and accrued income | 490/1 | €589 | €0 | -€589 | -100% |
| Total equity and liabilities | 10/49 | €32,218 | €26,860 | -€5,358 | -16.6% |
| Equity | 10/15 | -€37,067 | -€42,657 | -€5,590 | -15.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,067 | -€45,657 | -€5,590 | -14.0% |
| Amounts payable | 17/49 | €69,285 | €69,517 | +€232 | +0.3% |
| Amounts payable within one year | 42/48 | €69,285 | €68,777 | -€508 | -0.7% |
| Trade debts | 44 | €5,007 | €5,864 | +€857 | +17.1% |
| Suppliers | 440/4 | €5,007 | €5,864 | +€857 | +17.1% |
| Taxes, remuneration and social security | 45 | - | €4,321 | +€4,321 | |
| Taxes | 450/3 | - | €2,738 | +€2,738 | |
| Remuneration and social security | 454/9 | - | €1,584 | +€1,584 | |
| Other amounts payable | 47/48 | €64,278 | €58,592 | -€5,686 | -8.8% |
| Accrued charges and deferred income | 492/3 | - | €739 | +€739 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,536 | €8,163 | +€627 | +8.3% |
| Other operating charges | 640/8 | €433 | €1,180 | +€747 | +172% |
| Gross operating margin | 9900 | -€23,299 | €3,823 | +€27,122 | |
| Operating profit (loss) | 9901 | -€31,269 | -€5,520 | +€25,749 | +82.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €74 | €70 | -€3 | -4.2% |
| Recurring financial charges | 65 | €74 | €70 | -€3 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | -€31,342 | -€5,590 | +€25,752 | +82.2% |
| Profit (loss) for the period | 9904 | -€31,342 | -€5,590 | +€25,752 | +82.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,342 | -€5,590 | +€25,752 | +82.2% |
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 14 October 2026 via checked.be.