DELVIGA: what changed
Two fiscal 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.
DELVIGA
Largest movements
- Stocks and contracts +€1.5m
up €1.5m, from €0 to €1.5m
- Cash -€310,636
down €310,636 (-97.0%), from €320,152 to €9,517
mainly Stocks and contracts (-€1.5m) and Trade debts (-€82,691)
- Debts after one year +€1.2m
up €1.2m (+917.4%), from €134,075 to €1.4m
of which Financial debts: +€1.2m
- Other debts +€125,050
up €125,050 (+297.7%), from €42,000 to €167,050
- Trade debts -€82,691
down €82,691 (-94.8%), from €87,241 to €4,550
- Tax, wage and social debts -€63,598
down €63,598 (-85.6%), from €74,272 to €10,674
- Reserves +€23,128
up €23,128 (+7.2%), from €321,168 to €344,296
of which Distributable reserves: +€23,128
- Gross operating margin -€412,025
down €412,025 (-85.5%), from €481,960 to €69,935
- Taxes -€105,598
down €105,598 (-90.8%), from €116,272 to €10,674
- Financial charges -€32,122
down €32,122 (-84.1%), from €38,189 to €6,067
- Depreciation +€10,502
up €10,502 (+98.1%), from €10,710 to €21,213
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 | €708,756 | €1,940,621 | +€1.2m | +173.8% |
| Fixed assets | 21/28 | €385,550 | €377,051 | -€8,499 | -2.2% |
| Tangible fixed assets | 22/27 | €385,550 | €377,051 | -€8,499 | -2.2% |
| Land and buildings | 22 | €333,844 | €325,589 | -€8,254 | -2.5% |
| Plant, machinery and equipment | 23 | - | €5,172 | +€5,172 | |
| Furniture and vehicles | 24 | €51,707 | €46,289 | -€5,417 | -10.5% |
| Current assets | 29/58 | €323,206 | €1,563,570 | +€1.2m | +383.8% |
| Stocks and contracts in progress | 3 | €0 | €1,546,875 | +€1.5m | |
| Stocks | 30/36 | €0 | €1,546,875 | +€1.5m | |
| Amounts receivable within one year | 40/41 | €290 | €2,975 | +€2,685 | +924.5% |
| Trade receivables | 40 | €0 | €2,285 | +€2,285 | |
| Other amounts receivable | 41 | €290 | €690 | +€400 | +137.6% |
| Cash at bank and in hand | 54/58 | €320,152 | €9,517 | -€310,636 | -97.0% |
| Deferred charges and accrued income | 490/1 | €2,763 | €4,203 | +€1,440 | +52.1% |
| Total equity and liabilities | 10/49 | €708,756 | €1,940,621 | +€1.2m | +173.8% |
| Equity | 10/15 | €371,168 | €394,296 | +€23,128 | +6.2% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €321,168 | €344,296 | +€23,128 | +7.2% |
| Tax-exempt reserves | 132 | €176,820 | €176,820 | = | 0.0% |
| Distributable reserves | 133 | €144,348 | €167,476 | +€23,128 | +16.0% |
| Amounts payable | 17/49 | €337,588 | €1,546,325 | +€1.2m | +358.1% |
| Amounts payable after more than one year | 17 | €134,075 | €1,364,051 | +€1.2m | +917.4% |
| Financial debts | 170/4 | €0 | €1,230,000 | +€1.2m | |
| Other amounts payable | 178/9 | €134,075 | €134,051 | -€24 | 0.0% |
| Amounts payable within one year | 42/48 | €203,513 | €182,274 | -€21,239 | -10.4% |
| Trade debts | 44 | €87,241 | €4,550 | -€82,691 | -94.8% |
| Suppliers | 440/4 | €87,241 | €4,550 | -€82,691 | -94.8% |
| Taxes, remuneration and social security | 45 | €74,272 | €10,674 | -€63,598 | -85.6% |
| Taxes | 450/3 | €74,272 | €10,674 | -€63,598 | -85.6% |
| Other amounts payable | 47/48 | €42,000 | €167,050 | +€125,050 | +297.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €274 | +€274 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,710 | €21,213 | +€10,502 | +98.1% |
| Other operating charges | 640/8 | €6,828 | €8,853 | +€2,026 | +29.7% |
| Gross operating margin | 9900 | €481,960 | €69,935 | -€412,025 | -85.5% |
| Operating profit (loss) | 9901 | €464,422 | €39,869 | -€424,553 | -91.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €38,189 | €6,067 | -€32,122 | -84.1% |
| Recurring financial charges | 65 | €38,189 | €6,067 | -€32,122 | -84.1% |
| Profit (loss) for the period before taxes | 9903 | €426,233 | €33,802 | -€392,431 | -92.1% |
| Income taxes | 67/77 | €116,272 | €10,674 | -€105,598 | -90.8% |
| Profit (loss) for the period | 9904 | €309,960 | €23,128 | -€286,833 | -92.5% |
| Transfer to tax-exempt reserves | 689 | €176,820 | €0 | -€176,820 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €133,140 | €23,128 | -€110,013 | -82.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.