DR. L. DELSUPEHE: 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. L. DELSUPEHE
Largest movements
- Cash -€63,760
down €63,760 (-17.6%), from €362,661 to €298,901
mainly Contributions, distributions and other (-€122,768) and Debts after one year (-€92,536)
- Current investments +€50,780
up €50,780 (+5.9%), from €864,680 to €915,460
- Reserves +€173,569
up €173,569 (+10.7%), from €1.6m to €1.8m
of which Distributable reserves: +€173,569
- Debts after one year -€92,536
down €92,536 (-16.3%), from €567,883 to €475,347
- Trade debts -€41,470
down €41,470 (-89.8%), from €46,165 to €4,695
- Depreciation +€45,929
up €45,929 (+265%), from €17,337 to €63,266
- Gross operating margin -€24,646
down €24,646 (-5.1%), from €487,192 to €462,546
- Financial income +€8,758
up €8,758 (+14.1%), from €62,322 to €71,080
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 | €2,640,745 | €2,641,670 | +€925 | 0.0% |
| Fixed assets | 21/28 | €1,214,255 | €1,220,128 | +€5,873 | +0.5% |
| Tangible fixed assets | 22/27 | €1,214,255 | €1,220,128 | +€5,873 | +0.5% |
| Land and buildings | 22 | €1,136,169 | €1,152,012 | +€15,844 | +1.4% |
| Plant, machinery and equipment | 23 | €9,060 | €9,248 | +€188 | +2.1% |
| Furniture and vehicles | 24 | €42,776 | €32,618 | -€10,158 | -23.7% |
| Other tangible fixed assets | 26 | €26,250 | €26,250 | = | 0.0% |
| Current assets | 29/58 | €1,426,490 | €1,421,542 | -€4,948 | -0.3% |
| Amounts receivable within one year | 40/41 | €150,362 | €138,206 | -€12,157 | -8.1% |
| Trade receivables | 40 | €150,310 | €120,995 | -€29,316 | -19.5% |
| Other amounts receivable | 41 | €52 | €17,211 | +€17,159 | +32,998% |
| Current investments | 50/53 | €864,680 | €915,460 | +€50,780 | +5.9% |
| Cash at bank and in hand | 54/58 | €362,661 | €298,901 | -€63,760 | -17.6% |
| Deferred charges and accrued income | 490/1 | €48,786 | €68,975 | +€20,189 | +41.4% |
| Total equity and liabilities | 10/49 | €2,640,745 | €2,641,670 | +€925 | 0.0% |
| Equity | 10/15 | €1,736,437 | €1,910,006 | +€173,569 | +10.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,621,375 | €1,794,943 | +€173,569 | +10.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,619,515 | €1,793,083 | +€173,569 | +10.7% |
| Profit (loss) carried forward | 14 | €102,662 | €102,662 | = | 0.0% |
| Amounts payable | 17/49 | €904,308 | €731,665 | -€172,643 | -19.1% |
| Amounts payable after more than one year | 17 | €567,883 | €475,347 | -€92,536 | -16.3% |
| Financial debts | 170/4 | €567,883 | €475,347 | -€92,536 | -16.3% |
| Amounts payable within one year | 42/48 | €248,924 | €177,692 | -€71,232 | -28.6% |
| Financial debts | 43 | €91,885 | €92,536 | +€651 | +0.7% |
| Credit institutions | 430/8 | €91,885 | €92,536 | +€651 | +0.7% |
| Trade debts | 44 | €46,165 | €4,695 | -€41,470 | -89.8% |
| Suppliers | 440/4 | €46,165 | €4,695 | -€41,470 | -89.8% |
| Taxes, remuneration and social security | 45 | €101,203 | €80,461 | -€20,742 | -20.5% |
| Taxes | 450/3 | €101,203 | €80,461 | -€20,742 | -20.5% |
| Other amounts payable | 47/48 | €9,672 | - | -€9,672 | |
| Accrued charges and deferred income | 492/3 | €87,501 | €78,625 | -€8,875 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,337 | €63,266 | +€45,929 | +265% |
| Other operating charges | 640/8 | €2,943 | €5,087 | +€2,144 | +72.8% |
| Gross operating margin | 9900 | €487,192 | €462,546 | -€24,646 | -5.1% |
| Operating profit (loss) | 9901 | €466,912 | €394,193 | -€72,719 | -15.6% |
| Financial income | 75/76B | €62,322 | €71,080 | +€8,758 | +14.1% |
| Recurring financial income | 75 | €62,322 | €71,080 | +€8,758 | +14.1% |
| Financial charges | 65/66B | €10,720 | €10,230 | -€489 | -4.6% |
| Recurring financial charges | 65 | €10,720 | €10,230 | -€489 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €518,514 | €455,042 | -€63,472 | -12.2% |
| Income taxes | 67/77 | €160,559 | €158,706 | -€1,853 | -1.2% |
| Profit (loss) for the period | 9904 | €357,954 | €296,336 | -€61,618 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €357,954 | €296,336 | -€61,618 | -17.2% |
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.