DELY WAFELS: 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.
What changed
DELY WAFELS
NACE 46.170, Agents in the wholesale of food, beverages and tobacco
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €972,175+€181,841
Equity
€3.2m
2024 · €2.1m+€1.1m
Cash
€560,651
2024 · €836,844-€276,193
Balance sheet total
€19.2m
2024 · €19.4m-€188,586
Largest movements
Assets
- Current investments +€551,570
new in 2025: €551,570
- Receivables within one year -€469,574
down €469,574 (-16.3%), from €2.9m to €2.4m
of which Trade receivables: -€496,075
- Cash -€276,193
down €276,193 (-33.0%), from €836,844 to €560,651
mainly Investment in fixed assets (net) (-€1.7m) and Short-term financial debts (-€933,979)
Equity and liabilities
- Profit (loss) carried forward +€1.3m
up €1.3m (+38.1%), from -€3.4m to -€2.1m
- Short-term financial debts -€933,979
down €933,979 (-59.1%), from €1.6m to €646,748
of which Credit institutions: -€698,715
- Debts after one year -€388,977
down €388,977 (-3.9%), from €10.0m to €9.6m
- Trade debts +€349,907
up €349,907 (+12.1%), from €2.9m to €3.2m
Income statement
- Turnover +€2.6m
up €2.6m (+14.9%), from €17.2m to €19.7m
- Goods and materials +€700,558
up €700,558 (+11.9%), from €5.9m to €6.6m
of which Change in stocks: decrease (increase): +€471,047
- Services and other goods +€602,298
up €602,298 (+9.8%), from €6.2m to €6.8m
- Staff costs +€408,760
up €408,760 (+13.9%), from €2.9m to €3.4m
- Financial income -€283,089
down €283,089 (-77.5%), from €365,359 to €82,269
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.
Result 2024
€972,175
Turnover
+€2.6m
Other operating income
+€79,922
Goods and materials
-€700,558
Services and other goods
-€602,298
Staff costs
-€408,760
Depreciation
+€75,138
Write-downs
-€30,777
Other operating charges
-€93,963
Other operating items
-€341,370
Financial income
-€283,089
Financial charges
-€77,490
Taxes
-€79
Result 2025
€1.2m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3.5m
Investment
-€2.2m
Financing
-€1.5m
Cash 2024
€836,844
From operations (derived)
+€3.5m
Net result for the year
+€1.2m
Depreciation
+€1.5m
Receivables after one year
+€114,140
Stocks and contracts
+€83,939
Receivables within one year
+€469,574
Deferred charges and accrued income
-€20,161
Provisions
-€48,354
Trade debts
+€349,907
Tax, wage and social debts
-€85,084
Accrued charges and deferred income
-€17,543
Investment (derived)
-€2.2m
Investment in fixed assets (net)
-€1.7m
Current investments
-€551,570
Financing
-€1.5m
Debts after one year
-€388,977
Current portion of long-term debt
-€151,009
Short-term financial debts
-€933,979
Contributions, distributions and other
-€67,564
Cash 2025
€560,651
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,407,993 | €19,219,406 | -€188,586 | -1.0% |
| Fixed assets | 21/28 | €12,661,701 | €12,845,228 | +€183,528 | +1.4% |
| Intangible fixed assets | 21 | €29,416 | €24,987 | -€4,429 | -15.1% |
| Tangible fixed assets | 22/27 | €12,608,522 | €12,802,242 | +€193,720 | +1.5% |
| Land and buildings | 22 | €8,113,311 | €8,577,693 | +€464,383 | +5.7% |
| Plant, machinery and equipment | 23 | €3,663,571 | €3,225,536 | -€438,035 | -12.0% |
| Furniture and vehicles | 24 | €39,209 | €77,445 | +€38,237 | +97.5% |
| Leasing and similar rights | 25 | €792,431 | €555,016 | -€237,415 | -30.0% |
| Assets under construction and advance payments | 27 | - | €366,551 | +€366,551 | |
| Financial fixed assets | 28 | €23,764 | €18,000 | -€5,764 | -24.3% |
| Affiliated companies | 280/1 | €5,764 | €0 | -€5,764 | -100% |
| Participating interests | 280 | €5,764 | €0 | -€5,764 | -100% |
| Other financial fixed assets | 284/8 | €18,000 | €18,000 | = | 0.0% |
| Shares | 284 | €18,000 | €18,000 | = | 0.0% |
| Current assets | 29/58 | €6,746,292 | €6,374,178 | -€372,114 | -5.5% |
| Amounts receivable after more than one year | 29 | €188,324 | €74,185 | -€114,140 | -60.6% |
| Other amounts receivable | 291 | €188,324 | €74,185 | -€114,140 | -60.6% |
| Stocks and contracts in progress | 3 | €2,566,001 | €2,482,062 | -€83,939 | -3.3% |
| Stocks | 30/36 | €2,566,001 | €2,482,062 | -€83,939 | -3.3% |
| Raw materials and consumables | 30/31 | €1,037,867 | €893,282 | -€144,585 | -13.9% |
| Finished goods | 33 | €1,528,134 | €1,588,779 | +€60,646 | +4.0% |
| Amounts receivable within one year | 40/41 | €2,872,273 | €2,402,699 | -€469,574 | -16.3% |
| Trade receivables | 40 | €2,310,046 | €1,813,971 | -€496,075 | -21.5% |
| Other amounts receivable | 41 | €562,227 | €588,728 | +€26,501 | +4.7% |
| Current investments | 50/53 | - | €551,570 | +€551,570 | |
| Other investments | 51/53 | - | €551,570 | +€551,570 | |
| Cash at bank and in hand | 54/58 | €836,844 | €560,651 | -€276,193 | -33.0% |
| Deferred charges and accrued income | 490/1 | €282,850 | €303,011 | +€20,161 | +7.1% |
| Total equity and liabilities | 10/49 | €19,407,993 | €19,219,406 | -€188,586 | -1.0% |
| Equity | 10/15 | €2,066,384 | €3,152,836 | +€1.1m | +52.6% |
| Contributions | 10/11 | €942,000 | €942,000 | = | 0.0% |
| Reserves | 13 | €2,486,861 | €2,341,800 | -€145,061 | -5.8% |
| Non-distributable reserves | 130/1 | €14,200 | €14,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,200 | €14,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,210,993 | €2,065,932 | -€145,061 | -6.6% |
| Distributable reserves | 133 | €261,668 | €261,668 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,409,351 | -€2,110,274 | +€1.3m | +38.1% |
| Investment grants | 15 | €2,046,874 | €1,979,310 | -€67,564 | -3.3% |
| Provisions and deferred taxes | 16 | €717,246 | €668,893 | -€48,354 | -6.7% |
| Deferred taxes | 168 | €717,246 | €668,893 | -€48,354 | -6.7% |
| Amounts payable | 17/49 | €16,624,363 | €15,397,677 | -€1.2m | -7.4% |
| Amounts payable after more than one year | 17 | €9,988,370 | €9,599,393 | -€388,977 | -3.9% |
| Financial debts | 170/4 | €9,988,370 | €9,599,393 | -€388,977 | -3.9% |
| Subordinated loans | 170 | €1,262,804 | €1,064,074 | -€198,731 | -15.7% |
| Leasing and similar obligations | 172 | €196,423 | €0 | -€196,423 | -100% |
| Credit institutions | 173 | €6,965,640 | €6,876,764 | -€88,875 | -1.3% |
| Other loans | 174 | €1,563,503 | €1,658,555 | +€95,052 | +6.1% |
| Amounts payable within one year | 42/48 | €6,594,042 | €5,773,877 | -€820,165 | -12.4% |
| Current portion of amounts payable after more than one year | 42 | €1,574,035 | €1,423,026 | -€151,009 | -9.6% |
| Financial debts | 43 | €1,580,727 | €646,748 | -€933,979 | -59.1% |
| Credit institutions | 430/8 | €1,178,698 | €479,983 | -€698,715 | -59.3% |
| Other loans | 439 | €402,029 | €166,765 | -€235,264 | -58.5% |
| Trade debts | 44 | €2,895,550 | €3,245,456 | +€349,907 | +12.1% |
| Suppliers | 440/4 | €2,895,550 | €3,245,456 | +€349,907 | +12.1% |
| Taxes, remuneration and social security | 45 | €543,730 | €458,647 | -€85,084 | -15.6% |
| Taxes | 450/3 | €71,703 | €64,588 | -€7,115 | -9.9% |
| Remuneration and social security | 454/9 | €472,027 | €394,058 | -€77,969 | -16.5% |
| Accrued charges and deferred income | 492/3 | €41,951 | €24,407 | -€17,543 | -41.8% |
| Operating income | 70/76A | €17,701,455 | €20,005,173 | +€2.3m | +13.0% |
| Turnover | 70 | €17,163,203 | €19,728,369 | +€2.6m | +14.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €401,122 | €60,646 | -€340,476 | -84.9% |
| Other operating income | 74 | €131,552 | €211,473 | +€79,922 | +60.8% |
| Non-recurring operating income | 76A | €5,579 | €4,685 | -€895 | -16.0% |
| Operating charges | 60/66A | €16,686,512 | €18,447,730 | +€1.8m | +10.6% |
| Goods for resale, raw materials and consumables | 60 | €5,890,672 | €6,591,231 | +€700,558 | +11.9% |
| Purchases | 600/8 | €6,237,590 | €6,467,101 | +€229,511 | +3.7% |
| Change in stocks: decrease (increase) | 609 | -€346,918 | €124,129 | +€471,047 | |
| Services and other goods | 61 | €6,159,230 | €6,761,529 | +€602,298 | +9.8% |
| Remuneration, social security and pensions | 62 | €2,947,066 | €3,355,826 | +€408,760 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,561,614 | €1,486,476 | -€75,138 | -4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €238 | €31,014 | +€30,777 | +12,943% |
| Other operating charges | 640/8 | €127,692 | €221,654 | +€93,963 | +73.6% |
| Operating profit (loss) | 9901 | €1,014,943 | €1,557,443 | +€542,500 | +53.5% |
| Financial income | 75/76B | €365,359 | €82,269 | -€283,089 | -77.5% |
| Recurring financial income | 75 | €365,359 | €82,269 | -€283,089 | -77.5% |
| Income from financial fixed assets | 750 | €11,078 | - | -€11,078 | |
| Income from current assets | 751 | - | €5,744 | +€5,744 | |
| Other financial income | 752/9 | €354,281 | €76,525 | -€277,756 | -78.4% |
| Financial charges | 65/66B | €456,300 | €533,790 | +€77,490 | +17.0% |
| Recurring financial charges | 65 | €456,300 | €528,026 | +€71,727 | +15.7% |
| Debt charges | 650 | €354,961 | €385,063 | +€30,102 | +8.5% |
| Other financial charges | 652/9 | €101,339 | €142,963 | +€41,625 | +41.1% |
| Non-recurring financial charges | 66B | - | €5,764 | +€5,764 | |
| Profit (loss) for the period before taxes | 9903 | €924,002 | €1,105,922 | +€181,920 | +19.7% |
| Transfer from deferred taxes | 780 | €48,354 | €48,354 | = | 0.0% |
| Income taxes | 67/77 | €181 | €260 | +€79 | +43.4% |
| Taxes | 670/3 | €181 | €260 | +€79 | +43.4% |
| Profit (loss) for the period | 9904 | €972,175 | €1,154,016 | +€181,841 | +18.7% |
| Transfer from tax-exempt reserves | 789 | €145,061 | €145,061 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,117,236 | €1,299,077 | +€181,841 | +16.3% |
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 31 October 2026 via checked.be.