DELVINO: 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.
DELVINO
Largest movements
- Tangible fixed assets -€14,492
down €14,492 (-3.1%), from €464,957 to €450,464
- Stocks and contracts -€13,696
down €13,696 (-33.3%), from €41,146 to €27,450
- Cash -€9,224
down €9,224 (-80.3%), from €11,483 to €2,259
mainly Debts after one year (-€31,961) and Net result for the year (-€11,272)
- Debts after one year -€31,961
down €31,961 (-10.4%), from €308,507 to €276,547
of which Financial debts: -€31,961
- Profit (loss) carried forward -€11,272
down €11,272 (-20.3%), from -€55,506 to -€66,777
- Trade debts +€9,200
up €9,200 (+17.2%), from €53,393 to €62,593
- Other debts +€5,885
up €5,885 (+7.5%), from €78,753 to €84,638
- Financial charges -€3,250
down €3,250 (-16.2%), from €20,101 to €16,851
- Gross operating margin -€909
down €909 (-3.3%), from €27,139 to €26,230
- Financial income +€328
up €328 (+33,421%), from €1 to €329
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 | €528,211 | €494,802 | -€33,408 | -6.3% |
| Fixed assets | 21/28 | €464,957 | €450,464 | -€14,492 | -3.1% |
| Tangible fixed assets | 22/27 | €464,957 | €450,464 | -€14,492 | -3.1% |
| Land and buildings | 22 | €464,957 | €450,464 | -€14,492 | -3.1% |
| Current assets | 29/58 | €63,254 | €44,338 | -€18,916 | -29.9% |
| Stocks and contracts in progress | 3 | €41,146 | €27,450 | -€13,696 | -33.3% |
| Stocks | 30/36 | €41,146 | €27,450 | -€13,696 | -33.3% |
| Amounts receivable within one year | 40/41 | €10,625 | €14,589 | +€3,964 | +37.3% |
| Trade receivables | 40 | €10,625 | €14,589 | +€3,964 | +37.3% |
| Cash at bank and in hand | 54/58 | €11,483 | €2,259 | -€9,224 | -80.3% |
| Deferred charges and accrued income | 490/1 | - | €40 | +€40 | |
| Total equity and liabilities | 10/49 | €528,211 | €494,802 | -€33,408 | -6.3% |
| Equity | 10/15 | €4,494 | -€6,777 | -€11,272 | |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,506 | -€66,777 | -€11,272 | -20.3% |
| Amounts payable | 17/49 | €523,716 | €501,580 | -€22,137 | -4.2% |
| Amounts payable after more than one year | 17 | €308,507 | €276,547 | -€31,961 | -10.4% |
| Financial debts | 170/4 | €288,507 | €256,547 | -€31,961 | -11.1% |
| Other amounts payable | 178/9 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €215,209 | €225,033 | +€9,824 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €30,665 | €31,961 | +€1,296 | +4.2% |
| Financial debts | 43 | €50,000 | €45,000 | -€5,000 | -10.0% |
| Credit institutions | 430/8 | €50,000 | €45,000 | -€5,000 | -10.0% |
| Trade debts | 44 | €53,393 | €62,593 | +€9,200 | +17.2% |
| Suppliers | 440/4 | €53,393 | €62,593 | +€9,200 | +17.2% |
| Taxes, remuneration and social security | 45 | €2,399 | €841 | -€1,557 | -64.9% |
| Taxes | 450/3 | €2,399 | €841 | -€1,557 | -64.9% |
| Other amounts payable | 47/48 | €78,753 | €84,638 | +€5,885 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,492 | €14,492 | = | 0.0% |
| Other operating charges | 640/8 | €6,383 | €6,487 | +€104 | +1.6% |
| Gross operating margin | 9900 | €27,139 | €26,230 | -€909 | -3.3% |
| Operating profit (loss) | 9901 | €6,265 | €5,251 | -€1,013 | -16.2% |
| Financial income | 75/76B | €1 | €329 | +€328 | +33,421% |
| Recurring financial income | 75 | €1 | €329 | +€328 | +33,421% |
| Financial charges | 65/66B | €20,101 | €16,851 | -€3,250 | -16.2% |
| Recurring financial charges | 65 | €20,101 | €16,851 | -€3,250 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | -€13,836 | -€11,272 | +€2,564 | +18.5% |
| Profit (loss) for the period | 9904 | -€13,836 | -€11,272 | +€2,564 | +18.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,836 | -€11,272 | +€2,564 | +18.5% |
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 27 October 2026 via checked.be.