DELVINVEST: 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.
DELVINVEST
Largest movements
- Financial fixed assets +€1.5m
up €1.5m (+58.3%), from €2.5m to €4.0m
- Tangible fixed assets +€100,468
new in 2025: €100,468
- Cash +€44,339
up €44,339 (+50.2%), from €88,395 to €132,734
mainly Debts after one year (+€1.5m) and Net result for the year (+€150,249)
- Debts after one year +€1.5m
up €1.5m (+213%), from €705,526 to €2.2m
- Reserves +€150,249
up €150,249 (+10.7%), from €1.4m to €1.6m
of which Distributable reserves: +€150,249
- Gross operating margin +€67,098
up €67,098 (+37.3%), from €179,845 to €246,943
- Depreciation +€15,506
new in 2025: €15,506
- Taxes +€14,465
up €14,465 (+39.4%), from €36,706 to €51,171
- Financial charges -€5,248
down €5,248 (-15.4%), from €34,159 to €28,911
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 | €2,628,684 | €4,282,881 | +€1.7m | +62.9% |
| Fixed assets | 21/28 | €2,526,996 | €4,100,495 | +€1.6m | +62.3% |
| Tangible fixed assets | 22/27 | - | €100,468 | +€100,468 | |
| Furniture and vehicles | 24 | - | €100,468 | +€100,468 | |
| Financial fixed assets | 28 | €2,526,996 | €4,000,027 | +€1.5m | +58.3% |
| Current assets | 29/58 | €101,689 | €182,386 | +€80,697 | +79.4% |
| Amounts receivable within one year | 40/41 | €13,294 | €48,829 | +€35,535 | +267% |
| Other amounts receivable | 41 | €13,294 | €48,829 | +€35,535 | +267% |
| Cash at bank and in hand | 54/58 | €88,395 | €132,734 | +€44,339 | +50.2% |
| Deferred charges and accrued income | 490/1 | - | €823 | +€823 | |
| Total equity and liabilities | 10/49 | €2,628,684 | €4,282,881 | +€1.7m | +62.9% |
| Equity | 10/15 | €1,472,223 | €1,622,472 | +€150,249 | +10.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,410,223 | €1,560,472 | +€150,249 | +10.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,404,023 | €1,554,272 | +€150,249 | +10.7% |
| Amounts payable | 17/49 | €1,156,462 | €2,660,409 | +€1.5m | +130% |
| Amounts payable after more than one year | 17 | €705,526 | €2,205,526 | +€1.5m | +213% |
| Other amounts payable | 178/9 | €705,526 | €2,205,526 | +€1.5m | +213% |
| Amounts payable within one year | 42/48 | €417,464 | €426,661 | +€9,198 | +2.2% |
| Trade debts | 44 | €763 | €7,979 | +€7,216 | +946% |
| Suppliers | 440/4 | €763 | €7,979 | +€7,216 | +946% |
| Taxes, remuneration and social security | 45 | €13,097 | €12,435 | -€662 | -5.1% |
| Taxes | 450/3 | €13,097 | €12,435 | -€662 | -5.1% |
| Other amounts payable | 47/48 | €403,604 | €406,247 | +€2,643 | +0.7% |
| Accrued charges and deferred income | 492/3 | €33,472 | €28,221 | -€5,251 | -15.7% |
| Non-recurring operating income | 76A | - | €73,818 | +€73,818 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €15,506 | +€15,506 | |
| Other operating charges | 640/8 | €960 | €1,130 | +€170 | +17.7% |
| Gross operating margin | 9900 | €179,845 | €246,943 | +€67,098 | +37.3% |
| Operating profit (loss) | 9901 | €178,884 | €230,307 | +€51,423 | +28.7% |
| Financial income | 75/76B | - | €24 | +€24 | |
| Recurring financial income | 75 | - | €24 | +€24 | |
| Financial charges | 65/66B | €34,159 | €28,911 | -€5,248 | -15.4% |
| Recurring financial charges | 65 | €34,159 | €28,911 | -€5,248 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €144,726 | €201,420 | +€56,695 | +39.2% |
| Income taxes | 67/77 | €36,706 | €51,171 | +€14,465 | +39.4% |
| Profit (loss) for the period | 9904 | €108,019 | €150,249 | +€42,230 | +39.1% |
| Profit (loss) for the period to be appropriated | 9905 | €108,019 | €150,249 | +€42,230 | +39.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.