DELVIN: 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.
DELVIN
Largest movements
- Tangible fixed assets -€59,929
down €59,929 (-3.6%), from €1.6m to €1.6m
of which Land and buildings: -€58,255
- Debts after one year -€72,711
down €72,711 (-11.8%), from €615,253 to €542,542
- Reserves -€23,055
down €23,055 (-1.8%), from €1.3m to €1.3m
of which Distributable reserves: -€23,055
- Gross operating margin -€239,953
down €239,953 (-71.6%), from €334,928 to €94,975
- Taxes -€73,032
down €73,032 (-99.8%), from €73,194 to €162
- Depreciation -€9,223
down €9,223 (-11.6%), from €79,265 to €70,042
- Financial income -€7,757
down €7,757 (-100.0%), from €7,757 to €0
- Other operating charges +€3,828
up €3,828 (+19.3%), from €19,869 to €23,697
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 | €2,219,663 | €2,134,662 | -€85,001 | -3.8% |
| Fixed assets | 21/28 | €1,643,096 | €1,583,167 | -€59,929 | -3.6% |
| Tangible fixed assets | 22/27 | €1,643,096 | €1,583,167 | -€59,929 | -3.6% |
| Land and buildings | 22 | €1,636,508 | €1,578,253 | -€58,255 | -3.6% |
| Furniture and vehicles | 24 | €6,588 | €4,914 | -€1,675 | -25.4% |
| Current assets | 29/58 | €576,567 | €551,495 | -€25,072 | -4.3% |
| Amounts receivable within one year | 40/41 | €33,326 | €14,589 | -€18,737 | -56.2% |
| Trade receivables | 40 | €24,335 | €14,196 | -€10,138 | -41.7% |
| Other amounts receivable | 41 | €8,991 | €393 | -€8,599 | -95.6% |
| Cash at bank and in hand | 54/58 | €538,934 | €531,277 | -€7,656 | -1.4% |
| Deferred charges and accrued income | 490/1 | €4,307 | €5,629 | +€1,322 | +30.7% |
| Total equity and liabilities | 10/49 | €2,219,663 | €2,134,662 | -€85,001 | -3.8% |
| Equity | 10/15 | €1,304,173 | €1,281,118 | -€23,055 | -1.8% |
| Contributions | 10/11 | €29,153 | €29,153 | = | 0.0% |
| Reserves | 13 | €1,275,021 | €1,251,965 | -€23,055 | -1.8% |
| Tax-exempt reserves | 132 | €58,919 | €58,919 | = | 0.0% |
| Distributable reserves | 133 | €1,216,102 | €1,193,047 | -€23,055 | -1.9% |
| Investment grants | 15 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €915,490 | €853,544 | -€61,946 | -6.8% |
| Amounts payable after more than one year | 17 | €615,253 | €542,542 | -€72,711 | -11.8% |
| Financial debts | 170/4 | €615,253 | €542,542 | -€72,711 | -11.8% |
| Amounts payable within one year | 42/48 | €285,113 | €296,883 | +€11,770 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €73,615 | €75,893 | +€2,279 | +3.1% |
| Trade debts | 44 | €10,301 | €13,129 | +€2,828 | +27.5% |
| Suppliers | 440/4 | €10,301 | €13,129 | +€2,828 | +27.5% |
| Taxes, remuneration and social security | 45 | €57,173 | €57,219 | +€46 | +0.1% |
| Taxes | 450/3 | €54,173 | €55,219 | +€1,046 | +1.9% |
| Remuneration and social security | 454/9 | €3,000 | €2,000 | -€1,000 | -33.3% |
| Other amounts payable | 47/48 | €144,024 | €150,642 | +€6,618 | +4.6% |
| Accrued charges and deferred income | 492/3 | €15,124 | €14,119 | -€1,006 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,265 | €70,042 | -€9,223 | -11.6% |
| Other operating charges | 640/8 | €19,869 | €23,697 | +€3,828 | +19.3% |
| Gross operating margin | 9900 | €334,928 | €94,975 | -€239,953 | -71.6% |
| Operating profit (loss) | 9901 | €235,794 | €1,236 | -€234,558 | -99.5% |
| Financial income | 75/76B | €7,757 | €0 | -€7,757 | -100.0% |
| Recurring financial income | 75 | €7,757 | €0 | -€7,757 | -100.0% |
| Financial charges | 65/66B | €27,109 | €24,129 | -€2,979 | -11.0% |
| Recurring financial charges | 65 | €27,109 | €24,129 | -€2,979 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €216,443 | -€22,893 | -€239,336 | |
| Transfer from deferred taxes | 780 | €48 | €0 | -€48 | -100% |
| Income taxes | 67/77 | €73,194 | €162 | -€73,032 | -99.8% |
| Profit (loss) for the period | 9904 | €143,297 | -€23,055 | -€166,352 | |
| Profit (loss) for the period to be appropriated | 9905 | €143,297 | -€23,055 | -€166,352 |
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 13 October 2026 via checked.be.