DOLPHIA: 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.
DOLPHIA
Largest movements
- Cash -€222,950
down €222,950 (-44.3%), from €503,599 to €280,649
mainly Debts after one year (-€152,519) and Net result for the year (-€54,300)
- Debts after one year -€152,519
no longer reported in 2025 (was €152,519)
- Profit (loss) carried forward -€42,178
down €42,178 (-28.8%), from €146,247 to €104,069
- Current portion of long-term debt -€20,725
no longer reported in 2025 (was €20,725)
- Reserves -€12,122
down €12,122 (-2.5%), from €487,425 to €475,303
of which Tax-exempt reserves: -€12,122
- Financial income -€455,210
down €455,210 (-100.0%), from €455,400 to €190
of which Non-recurring financial income: -€455,400
- Taxes -€45,515
no longer reported in 2025 (was €45,515)
- Gross operating margin -€20,995
down €20,995, from €10,367 to -€10,628
- Depreciation -€8,493
down €8,493 (-17.1%), from €49,666 to €41,173
- Other operating charges +€1,451
up €1,451 (+76.4%), from €1,900 to €3,351
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 | €879,570 | €646,379 | -€233,191 | -26.5% |
| Fixed assets | 21/28 | €362,442 | €353,667 | -€8,775 | -2.4% |
| Tangible fixed assets | 22/27 | €355,565 | €346,790 | -€8,775 | -2.5% |
| Land and buildings | 22 | €326,214 | €312,138 | -€14,076 | -4.3% |
| Plant, machinery and equipment | 23 | €29,351 | €2,254 | -€27,097 | -92.3% |
| Furniture and vehicles | 24 | - | €32,398 | +€32,398 | |
| Financial fixed assets | 28 | €6,877 | €6,877 | = | 0.0% |
| Current assets | 29/58 | €517,128 | €292,712 | -€224,416 | -43.4% |
| Amounts receivable within one year | 40/41 | €13,529 | €12,063 | -€1,466 | -10.8% |
| Other amounts receivable | 41 | €13,529 | €12,063 | -€1,466 | -10.8% |
| Cash at bank and in hand | 54/58 | €503,599 | €280,649 | -€222,950 | -44.3% |
| Total equity and liabilities | 10/49 | €879,570 | €646,379 | -€233,191 | -26.5% |
| Equity | 10/15 | €655,672 | €601,372 | -€54,300 | -8.3% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €487,425 | €475,303 | -€12,122 | -2.5% |
| Non-distributable reserves | 130/1 | €2,200 | €2,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,200 | €2,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €105,225 | €93,103 | -€12,122 | -11.5% |
| Distributable reserves | 133 | €380,000 | €380,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €146,247 | €104,069 | -€42,178 | -28.8% |
| Provisions and deferred taxes | 16 | €50,066 | €44,458 | -€5,608 | -11.2% |
| Deferred taxes | 168 | €50,066 | €44,458 | -€5,608 | -11.2% |
| Amounts payable | 17/49 | €173,832 | €549 | -€173,283 | -99.7% |
| Amounts payable after more than one year | 17 | €152,519 | - | -€152,519 | |
| Financial debts | 170/4 | €152,519 | - | -€152,519 | |
| Amounts payable within one year | 42/48 | €21,313 | €549 | -€20,764 | -97.4% |
| Current portion of amounts payable after more than one year | 42 | €20,725 | - | -€20,725 | |
| Trade debts | 44 | €588 | €549 | -€39 | -6.6% |
| Suppliers | 440/4 | €588 | €549 | -€39 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,666 | €41,173 | -€8,493 | -17.1% |
| Other operating charges | 640/8 | €1,900 | €3,351 | +€1,451 | +76.4% |
| Gross operating margin | 9900 | €10,367 | -€10,628 | -€20,995 | |
| Operating profit (loss) | 9901 | -€41,199 | -€55,152 | -€13,953 | -33.9% |
| Financial income | 75/76B | €455,400 | €190 | -€455,210 | -100.0% |
| Recurring financial income | 75 | €455,400 | €190 | -€455,210 | -100.0% |
| Non-recurring financial income | 76B | €455,400 | - | -€455,400 | |
| Financial charges | 65/66B | €5,888 | €4,946 | -€942 | -16.0% |
| Recurring financial charges | 65 | €5,888 | €4,946 | -€942 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €408,313 | -€59,908 | -€468,221 | |
| Transfer from deferred taxes | 780 | €5,608 | €5,608 | = | 0.0% |
| Income taxes | 67/77 | €45,515 | - | -€45,515 | |
| Profit (loss) for the period | 9904 | €368,406 | -€54,300 | -€422,706 | |
| Transfer from tax-exempt reserves | 789 | €12,123 | €12,122 | -€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €380,529 | -€42,178 | -€422,707 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.