DELWAT: 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.
DELWAT
Largest movements
- Receivables within one year -€166,352
down €166,352 (-45.6%), from €364,821 to €198,468
of which Other amounts receivable: -€255,503
- Reserves -€172,627
down €172,627 (-12.6%), from €1.4m to €1.2m
of which Distributable reserves: -€172,627
- Other debts +€40,198
up €40,198 (+477.1%), from €8,426 to €48,624
- Tax, wage and social debts -€28,815
down €28,815 (-64.3%), from €44,820 to €16,005
of which Taxes: -€24,761
- Financial income -€35,431
down €35,431 (-28.9%), from €122,559 to €87,127
- Gross operating margin -€11,134
down €11,134 (-5.3%), from €210,335 to €199,201
- Taxes -€10,881
down €10,881 (-17.7%), from €61,651 to €50,770
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 | €1,607,812 | €1,448,783 | -€159,029 | -9.9% |
| Fixed assets | 21/28 | €1,157,541 | €1,166,150 | +€8,610 | +0.7% |
| Tangible fixed assets | 22/27 | €490,524 | €499,134 | +€8,610 | +1.8% |
| Land and buildings | 22 | €489,782 | €499,013 | +€9,231 | +1.9% |
| Furniture and vehicles | 24 | €743 | €121 | -€621 | -83.7% |
| Financial fixed assets | 28 | €667,016 | €667,016 | = | 0.0% |
| Current assets | 29/58 | €450,271 | €282,633 | -€167,639 | -37.2% |
| Amounts receivable within one year | 40/41 | €364,821 | €198,468 | -€166,352 | -45.6% |
| Trade receivables | 40 | €15,160 | €104,311 | +€89,151 | +588.1% |
| Other amounts receivable | 41 | €349,661 | €94,158 | -€255,503 | -73.1% |
| Cash at bank and in hand | 54/58 | €85,451 | €84,164 | -€1,286 | -1.5% |
| Total equity and liabilities | 10/49 | €1,607,812 | €1,448,783 | -€159,029 | -9.9% |
| Equity | 10/15 | €1,554,566 | €1,381,939 | -€172,627 | -11.1% |
| Contributions | 10/11 | €93,583 | €93,583 | = | 0.0% |
| Capital | 10 | €93,583 | €93,583 | = | 0.0% |
| Issued capital | 100 | €93,583 | €93,583 | = | 0.0% |
| Reserves | 13 | €1,365,817 | €1,193,190 | -€172,627 | -12.6% |
| Non-distributable reserves | 130/1 | €9,358 | €9,358 | = | 0.0% |
| Legal reserve | 130 | €9,358 | €9,358 | = | 0.0% |
| Distributable reserves | 133 | €1,356,458 | €1,183,832 | -€172,627 | -12.7% |
| Profit (loss) carried forward | 14 | €95,166 | €95,166 | = | 0.0% |
| Amounts payable | 17/49 | €53,246 | €66,844 | +€13,598 | +25.5% |
| Amounts payable within one year | 42/48 | €53,246 | €66,844 | +€13,598 | +25.5% |
| Trade debts | 44 | - | €2,215 | +€2,215 | |
| Suppliers | 440/4 | - | €2,215 | +€2,215 | |
| Taxes, remuneration and social security | 45 | €44,820 | €16,005 | -€28,815 | -64.3% |
| Taxes | 450/3 | €40,759 | €15,998 | -€24,761 | -60.7% |
| Remuneration and social security | 454/9 | €4,061 | €7 | -€4,054 | -99.8% |
| Other amounts payable | 47/48 | €8,426 | €48,624 | +€40,198 | +477.1% |
| Remuneration, social security and pensions | 62 | - | €1,111 | +€1,111 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,388 | €35,799 | +€411 | +1.2% |
| Other operating charges | 640/8 | €19,208 | €19,980 | +€772 | +4.0% |
| Gross operating margin | 9900 | €210,335 | €199,201 | -€11,134 | -5.3% |
| Operating profit (loss) | 9901 | €155,739 | €142,311 | -€13,428 | -8.6% |
| Financial income | 75/76B | €122,559 | €87,127 | -€35,431 | -28.9% |
| Recurring financial income | 75 | €122,559 | €87,127 | -€35,431 | -28.9% |
| Financial charges | 65/66B | €374 | €295 | -€78 | -21.0% |
| Recurring financial charges | 65 | €374 | €295 | -€78 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €277,924 | €229,143 | -€48,781 | -17.6% |
| Income taxes | 67/77 | €61,651 | €50,770 | -€10,881 | -17.7% |
| Profit (loss) for the period | 9904 | €216,273 | €178,373 | -€37,900 | -17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €216,273 | €178,373 | -€37,900 | -17.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.