DELVORA: 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.
DELVORA
Largest movements
- Receivables within one year +€67,622
up €67,622 (+157%), from €43,022 to €110,644
of which Trade receivables: +€42,286
- Tangible fixed assets -€33,167
down €33,167 (-8.9%), from €374,714 to €341,547
of which Other tangible fixed assets: -€33,343
- Stocks and contracts +€19,357
up €19,357 (+43.3%), from €44,753 to €64,110
- Cash +€12,901
up €12,901 (+25.2%), from €51,135 to €64,036
mainly Current portion of long-term debt (+€79,470) and Depreciation (+€63,666)
- Current portion of long-term debt +€79,470
up €79,470 (+148%), from €53,595 to €133,065
- Trade debts +€46,907
up €46,907 (+256%), from €18,340 to €65,247
- Debts after one year -€31,837
down €31,837 (-10.6%), from €299,371 to €267,534
- Profit (loss) carried forward -€14,716
down €14,716 (-19.0%), from €77,303 to €62,587
- Tax, wage and social debts -€12,285
down €12,285 (-38.2%), from €32,180 to €19,895
of which Taxes: -€9,092
- Gross operating margin +€126,428
up €126,428 (+61.8%), from €204,573 to €331,001
- Depreciation +€13,883
up €13,883 (+27.9%), from €49,783 to €63,666
- Staff costs +€10,673
up €10,673 (+4.3%), from €248,501 to €259,174
- Financial charges +€6,531
up €6,531 (+58.7%), from €11,130 to €17,661
- Other operating charges +€4,215
up €4,215 (+297%), from €1,420 to €5,635
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 | €520,789 | €588,328 | +€67,539 | +13.0% |
| Fixed assets | 21/28 | €376,090 | €343,239 | -€32,851 | -8.7% |
| Tangible fixed assets | 22/27 | €374,714 | €341,547 | -€33,167 | -8.9% |
| Plant, machinery and equipment | 23 | €49,301 | €30,324 | -€18,977 | -38.5% |
| Furniture and vehicles | 24 | €6,444 | €25,597 | +€19,153 | +297% |
| Other tangible fixed assets | 26 | €318,969 | €285,626 | -€33,343 | -10.5% |
| Financial fixed assets | 28 | €1,376 | €1,692 | +€316 | +23.0% |
| Current assets | 29/58 | €144,699 | €245,089 | +€100,390 | +69.4% |
| Stocks and contracts in progress | 3 | €44,753 | €64,110 | +€19,357 | +43.3% |
| Stocks | 30/36 | €44,753 | €64,110 | +€19,357 | +43.3% |
| Amounts receivable within one year | 40/41 | €43,022 | €110,644 | +€67,622 | +157% |
| Trade receivables | 40 | €39,972 | €82,258 | +€42,286 | +106% |
| Other amounts receivable | 41 | €3,050 | €28,386 | +€25,336 | +831% |
| Cash at bank and in hand | 54/58 | €51,135 | €64,036 | +€12,901 | +25.2% |
| Deferred charges and accrued income | 490/1 | €5,789 | €6,299 | +€510 | +8.8% |
| Total equity and liabilities | 10/49 | €520,789 | €588,328 | +€67,539 | +13.0% |
| Equity | 10/15 | €99,303 | €84,587 | -€14,716 | -14.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,303 | €62,587 | -€14,716 | -19.0% |
| Amounts payable | 17/49 | €421,486 | €503,741 | +€82,255 | +19.5% |
| Amounts payable after more than one year | 17 | €299,371 | €267,534 | -€31,837 | -10.6% |
| Financial debts | 170/4 | €299,371 | €267,534 | -€31,837 | -10.6% |
| Amounts payable within one year | 42/48 | €122,115 | €236,207 | +€114,092 | +93.4% |
| Current portion of amounts payable after more than one year | 42 | €53,595 | €133,065 | +€79,470 | +148% |
| Trade debts | 44 | €18,340 | €65,247 | +€46,907 | +256% |
| Suppliers | 440/4 | €18,340 | €65,247 | +€46,907 | +256% |
| Taxes, remuneration and social security | 45 | €32,180 | €19,895 | -€12,285 | -38.2% |
| Taxes | 450/3 | €12,725 | €3,633 | -€9,092 | -71.4% |
| Remuneration and social security | 454/9 | €19,455 | €16,262 | -€3,193 | -16.4% |
| Other amounts payable | 47/48 | €18,000 | €18,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €248,501 | €259,174 | +€10,673 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,783 | €63,666 | +€13,883 | +27.9% |
| Other operating charges | 640/8 | €1,420 | €5,635 | +€4,215 | +297% |
| Gross operating margin | 9900 | €204,573 | €331,001 | +€126,428 | +61.8% |
| Operating profit (loss) | 9901 | -€95,131 | €2,526 | +€97,657 | |
| Financial income | 75/76B | €579 | €460 | -€119 | -20.6% |
| Recurring financial income | 75 | €579 | €460 | -€119 | -20.6% |
| Financial charges | 65/66B | €11,130 | €17,661 | +€6,531 | +58.7% |
| Recurring financial charges | 65 | €11,130 | €17,661 | +€6,531 | +58.7% |
| Profit (loss) for the period before taxes | 9903 | -€105,682 | -€14,675 | +€91,007 | +86.1% |
| Income taxes | 67/77 | - | €41 | +€41 | |
| Profit (loss) for the period | 9904 | -€105,682 | -€14,716 | +€90,966 | +86.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€105,682 | -€14,716 | +€90,966 | +86.1% |
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 15 October 2026 via checked.be.