DR DELAIVE JM: 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.
DR DELAIVE JM
Largest movements
- Cash +€45,789
up €45,789 (+53.2%), from €86,061 to €131,850
mainly Net result for the year (+€80,511) and Depreciation (+€3,436)
- Current investments +€6,180
up €6,180 (+86.9%), from €7,111 to €13,291
- Receivables within one year +€5,549
up €5,549 (+117%), from €4,737 to €10,286
of which Other amounts receivable: +€3,184
- Tangible fixed assets -€3,436
down €3,436 (-25.9%), from €13,242 to €9,806
of which Other tangible fixed assets: -€1,831
- Reserves +€60,612
up €60,612 (+106%), from €57,324 to €117,937
- Other debts -€8,700
down €8,700 (-31.5%), from €27,604 to €18,904
- Tax, wage and social debts +€3,057
up €3,057 (+22.7%), from €13,480 to €16,538
- Gross operating margin +€34,487
up €34,487 (+41.7%), from €82,693 to €117,179
- Taxes +€13,706
up €13,706 (+77.5%), from €17,687 to €31,393
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 | €118,595 | €173,247 | +€54,652 | +46.1% |
| Fixed assets | 21/28 | €13,242 | €9,806 | -€3,436 | -25.9% |
| Tangible fixed assets | 22/27 | €13,242 | €9,806 | -€3,436 | -25.9% |
| Plant, machinery and equipment | 23 | €8,124 | €7,066 | -€1,058 | -13.0% |
| Furniture and vehicles | 24 | €2,080 | €1,533 | -€547 | -26.3% |
| Other tangible fixed assets | 26 | €3,037 | €1,207 | -€1,831 | -60.3% |
| Current assets | 29/58 | €105,353 | €163,441 | +€58,088 | +55.1% |
| Amounts receivable within one year | 40/41 | €4,737 | €10,286 | +€5,549 | +117% |
| Trade receivables | 40 | - | €2,366 | +€2,366 | |
| Other amounts receivable | 41 | €4,737 | €7,920 | +€3,184 | +67.2% |
| Current investments | 50/53 | €7,111 | €13,291 | +€6,180 | +86.9% |
| Cash at bank and in hand | 54/58 | €86,061 | €131,850 | +€45,789 | +53.2% |
| Deferred charges and accrued income | 490/1 | €7,444 | €8,013 | +€570 | +7.7% |
| Total equity and liabilities | 10/49 | €118,595 | €173,247 | +€54,652 | +46.1% |
| Equity | 10/15 | €75,924 | €136,537 | +€60,612 | +79.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €57,324 | €117,937 | +€60,612 | +106% |
| Distributable reserves | 133 | €57,324 | €117,937 | +€60,612 | +106% |
| Amounts payable | 17/49 | €42,671 | €36,710 | -€5,961 | -14.0% |
| Amounts payable within one year | 42/48 | €42,671 | €36,710 | -€5,961 | -14.0% |
| Trade debts | 44 | €1,586 | €1,269 | -€318 | -20.0% |
| Suppliers | 440/4 | €1,586 | €1,269 | -€318 | -20.0% |
| Taxes, remuneration and social security | 45 | €13,480 | €16,538 | +€3,057 | +22.7% |
| Taxes | 450/3 | €13,480 | €16,538 | +€3,057 | +22.7% |
| Other amounts payable | 47/48 | €27,604 | €18,904 | -€8,700 | -31.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,532 | €3,436 | -€95 | -2.7% |
| Other operating charges | 640/8 | €491 | €460 | -€31 | -6.3% |
| Gross operating margin | 9900 | €82,693 | €117,179 | +€34,487 | +41.7% |
| Operating profit (loss) | 9901 | €78,670 | €113,283 | +€34,613 | +44.0% |
| Financial income | 75/76B | €21 | €263 | +€241 | +1,129% |
| Recurring financial income | 75 | €21 | €263 | +€241 | +1,129% |
| Financial charges | 65/66B | €1,606 | €1,642 | +€36 | +2.2% |
| Recurring financial charges | 65 | €1,606 | €1,642 | +€36 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €77,085 | €111,904 | +€34,819 | +45.2% |
| Income taxes | 67/77 | €17,687 | €31,393 | +€13,706 | +77.5% |
| Profit (loss) for the period | 9904 | €59,398 | €80,511 | +€21,113 | +35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €59,398 | €80,511 | +€21,113 | +35.5% |
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 27 October 2026 via checked.be.