FOTO DELRO: 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.
FOTO DELRO
Largest movements
- Tangible fixed assets +€7,892
up €7,892 (+28.8%), from €27,367 to €35,259
of which Plant, machinery and equipment: +€7,905
- Stocks and contracts +€2,143
up €2,143 (+5.9%), from €36,517 to €38,659
- Reserves +€14,732
up €14,732 (+8.8%), from €167,103 to €181,835
- Contributions -€5,371
down €5,371 (-28.9%), from €18,592 to €13,221
- Gross operating margin +€28,201
up €28,201 (+43.8%), from €64,337 to €92,538
- Taxes +€6,819
up €6,819 (+44.8%), from €15,237 to €22,055
- Depreciation +€2,857
up €2,857 (+51.6%), from €5,533 to €8,390
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 | €202,211 | €212,912 | +€10,701 | +5.3% |
| Fixed assets | 21/28 | €27,367 | €35,259 | +€7,892 | +28.8% |
| Tangible fixed assets | 22/27 | €27,367 | €35,259 | +€7,892 | +28.8% |
| Plant, machinery and equipment | 23 | €27,353 | €35,259 | +€7,905 | +28.9% |
| Furniture and vehicles | 24 | €13 | €0 | -€13 | -100% |
| Current assets | 29/58 | €174,844 | €177,653 | +€2,809 | +1.6% |
| Stocks and contracts in progress | 3 | €36,517 | €38,659 | +€2,143 | +5.9% |
| Stocks | 30/36 | €36,517 | €38,659 | +€2,143 | +5.9% |
| Amounts receivable within one year | 40/41 | €2,584 | €2,171 | -€413 | -16.0% |
| Trade receivables | 40 | €1,821 | €2,132 | +€311 | +17.1% |
| Other amounts receivable | 41 | €763 | €39 | -€724 | -94.9% |
| Cash at bank and in hand | 54/58 | €133,976 | €134,102 | +€125 | +0.1% |
| Deferred charges and accrued income | 490/1 | €1,767 | €2,722 | +€954 | +54.0% |
| Total equity and liabilities | 10/49 | €202,211 | €212,912 | +€10,701 | +5.3% |
| Equity | 10/15 | €185,695 | €195,056 | +€9,361 | +5.0% |
| Contributions | 10/11 | €18,592 | €13,221 | -€5,371 | -28.9% |
| Reserves | 13 | €167,103 | €181,835 | +€14,732 | +8.8% |
| Distributable reserves | 133 | €167,103 | €181,835 | +€14,732 | +8.8% |
| Amounts payable | 17/49 | €16,516 | €17,856 | +€1,340 | +8.1% |
| Amounts payable within one year | 42/48 | €16,516 | €17,856 | +€1,340 | +8.1% |
| Trade debts | 44 | €3,453 | €2,672 | -€781 | -22.6% |
| Suppliers | 440/4 | €3,453 | €2,672 | -€781 | -22.6% |
| Taxes, remuneration and social security | 45 | €13,063 | €15,184 | +€2,120 | +16.2% |
| Taxes | 450/3 | €13,063 | €15,184 | +€2,120 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,533 | €8,390 | +€2,857 | +51.6% |
| Other operating charges | 640/8 | €1,128 | €654 | -€475 | -42.1% |
| Gross operating margin | 9900 | €64,337 | €92,538 | +€28,201 | +43.8% |
| Operating profit (loss) | 9901 | €57,676 | €83,494 | +€25,818 | +44.8% |
| Financial income | 75/76B | €348 | €103 | -€245 | -70.4% |
| Recurring financial income | 75 | €348 | €103 | -€245 | -70.4% |
| Financial charges | 65/66B | €2,136 | €2,181 | +€45 | +2.1% |
| Recurring financial charges | 65 | €2,136 | €2,181 | +€45 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €55,888 | €81,416 | +€25,528 | +45.7% |
| Income taxes | 67/77 | €15,237 | €22,055 | +€6,819 | +44.8% |
| Profit (loss) for the period | 9904 | €40,652 | €59,361 | +€18,709 | +46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,652 | €59,361 | +€18,709 | +46.0% |
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.