ETS DELNOOZ: 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.
ETS DELNOOZ
Largest movements
- Tangible fixed assets +€80,543
up €80,543 (+28.1%), from €286,553 to €367,096
of which Land and buildings: +€83,769
- Receivables within one year +€43,551
up €43,551 (+59.4%), from €73,294 to €116,845
of which Trade receivables: +€31,898
- Stocks and contracts +€6,287
up €6,287 (+13.8%), from €45,432 to €51,718
- Debts after one year +€68,565
up €68,565 (+29.8%), from €230,371 to €298,937
- Trade debts +€51,507
up €51,507 (+1,443%), from €3,570 to €55,076
- Other debts -€16,507
down €16,507 (-46.6%), from €35,414 to €18,907
- Reserves +€15,632
up €15,632 (+20.4%), from €76,653 to €92,285
of which Distributable reserves: +€15,632
- Current portion of long-term debt +€13,949
up €13,949 (+162%), from €8,631 to €22,581
- Taxes -€9,454
down €9,454 (-98.0%), from €9,645 to €192
- Depreciation +€5,732
up €5,732 (+28.3%), from €20,271 to €26,002
- Gross operating margin -€5,624
down €5,624 (-4.4%), from €128,273 to €122,650
- Staff costs +€5,151
up €5,151 (+8.4%), from €61,621 to €66,773
- Financial charges +€1,587
up €1,587 (+15.2%), from €10,464 to €12,051
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 | €431,135 | €558,680 | +€127,545 | +29.6% |
| Formation expenses | 20 | €671 | €254 | -€417 | -62.2% |
| Fixed assets | 21/28 | €286,578 | €367,121 | +€80,543 | +28.1% |
| Tangible fixed assets | 22/27 | €286,553 | €367,096 | +€80,543 | +28.1% |
| Land and buildings | 22 | €274,133 | €357,902 | +€83,769 | +30.6% |
| Plant, machinery and equipment | 23 | €1,882 | €2,862 | +€979 | +52.0% |
| Furniture and vehicles | 24 | €10,538 | €6,333 | -€4,205 | -39.9% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €143,886 | €191,305 | +€47,419 | +33.0% |
| Stocks and contracts in progress | 3 | €45,432 | €51,718 | +€6,287 | +13.8% |
| Stocks | 30/36 | €45,432 | €51,718 | +€6,287 | +13.8% |
| Amounts receivable within one year | 40/41 | €73,294 | €116,845 | +€43,551 | +59.4% |
| Trade receivables | 40 | €71,430 | €103,328 | +€31,898 | +44.7% |
| Other amounts receivable | 41 | €1,864 | €13,517 | +€11,653 | +625% |
| Cash at bank and in hand | 54/58 | €24,144 | €21,473 | -€2,671 | -11.1% |
| Deferred charges and accrued income | 490/1 | €1,017 | €1,269 | +€252 | +24.7% |
| Total equity and liabilities | 10/49 | €431,135 | €558,680 | +€127,545 | +29.6% |
| Equity | 10/15 | €135,183 | €150,815 | +€15,632 | +11.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €76,653 | €92,285 | +€15,632 | +20.4% |
| 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 | €74,793 | €90,425 | +€15,632 | +20.9% |
| Profit (loss) carried forward | 14 | €52,330 | €52,330 | = | 0.0% |
| Amounts payable | 17/49 | €295,952 | €407,865 | +€111,913 | +37.8% |
| Amounts payable after more than one year | 17 | €230,371 | €298,937 | +€68,565 | +29.8% |
| Financial debts | 170/4 | €230,371 | €298,937 | +€68,565 | +29.8% |
| Amounts payable within one year | 42/48 | €65,581 | €108,928 | +€43,347 | +66.1% |
| Current portion of amounts payable after more than one year | 42 | €8,631 | €22,581 | +€13,949 | +162% |
| Trade debts | 44 | €3,570 | €55,076 | +€51,507 | +1,443% |
| Suppliers | 440/4 | €3,570 | €55,076 | +€51,507 | +1,443% |
| Taxes, remuneration and social security | 45 | €17,966 | €12,364 | -€5,602 | -31.2% |
| Taxes | 450/3 | €11,969 | €2,390 | -€9,579 | -80.0% |
| Remuneration and social security | 454/9 | €5,997 | €9,974 | +€3,977 | +66.3% |
| Other amounts payable | 47/48 | €35,414 | €18,907 | -€16,507 | -46.6% |
| Remuneration, social security and pensions | 62 | €61,621 | €66,773 | +€5,151 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,271 | €26,002 | +€5,732 | +28.3% |
| Other operating charges | 640/8 | €2,763 | €2,000 | -€763 | -27.6% |
| Gross operating margin | 9900 | €128,273 | €122,650 | -€5,624 | -4.4% |
| Operating profit (loss) | 9901 | €43,618 | €27,874 | -€15,744 | -36.1% |
| Financial charges | 65/66B | €10,464 | €12,051 | +€1,587 | +15.2% |
| Recurring financial charges | 65 | €10,464 | €12,051 | +€1,587 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | €33,154 | €15,824 | -€17,331 | -52.3% |
| Income taxes | 67/77 | €9,645 | €192 | -€9,454 | -98.0% |
| Profit (loss) for the period | 9904 | €23,509 | €15,632 | -€7,877 | -33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €23,509 | €15,632 | -€7,877 | -33.5% |
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 29 October 2026 via checked.be.