H.K.DELTA: 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.
H.K.DELTA
Largest movements
- Tangible fixed assets -€181,660
down €181,660 (-69.3%), from €262,300 to €80,640
of which Furniture and vehicles: -€160,134
- Financial fixed assets -€25,230
no longer reported in 2025 (was €25,230)
- Deferred charges and accrued income +€15,895
up €15,895 (+313%), from €5,085 to €20,980
- Receivables within one year -€13,921
down €13,921 (-70.3%), from €19,809 to €5,888
- Profit (loss) carried forward -€122,985
down €122,985 (-61.7%), from €199,329 to €76,344
- Other debts +€70,868
new in 2025: €70,868
- Tax, wage and social debts -€67,661
down €67,661 (-94.9%), from €71,293 to €3,632
of which Taxes: -€34,260
- Trade debts -€50,061
down €50,061 (-56.9%), from €88,046 to €37,986
- Debts after one year -€34,413
down €34,413 (-61.6%), from €55,869 to €21,456
- Gross operating margin -€331,637
down €331,637 (-64.4%), from €514,651 to €183,013
- Staff costs -€187,566
down €187,566 (-60.7%), from €309,083 to €121,518
- Depreciation -€72,614
down €72,614 (-61.5%), from €118,082 to €45,468
- Taxes -€30,839
no longer reported in 2025 (was €30,839)
- Financial charges -€10,270
down €10,270 (-37.2%), from €27,580 to €17,309
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 | €474,987 | €261,442 | -€213,545 | -45.0% |
| Fixed assets | 21/28 | €298,530 | €89,440 | -€209,090 | -70.0% |
| Intangible fixed assets | 21 | €11,000 | €8,800 | -€2,200 | -20.0% |
| Tangible fixed assets | 22/27 | €262,300 | €80,640 | -€181,660 | -69.3% |
| Plant, machinery and equipment | 23 | €8,583 | €4,299 | -€4,284 | -49.9% |
| Furniture and vehicles | 24 | €198,556 | €38,423 | -€160,134 | -80.6% |
| Leasing and similar rights | 25 | €32,263 | €16,263 | -€16,000 | -49.6% |
| Other tangible fixed assets | 26 | €22,898 | €21,655 | -€1,242 | -5.4% |
| Financial fixed assets | 28 | €25,230 | - | -€25,230 | |
| Current assets | 29/58 | €176,457 | €172,002 | -€4,455 | -2.5% |
| Stocks and contracts in progress | 3 | €143,740 | €141,394 | -€2,346 | -1.6% |
| Stocks | 30/36 | €143,740 | €141,394 | -€2,346 | -1.6% |
| Amounts receivable within one year | 40/41 | €19,809 | €5,888 | -€13,921 | -70.3% |
| Other amounts receivable | 41 | €19,809 | €5,888 | -€13,921 | -70.3% |
| Cash at bank and in hand | 54/58 | €7,822 | €3,739 | -€4,083 | -52.2% |
| Deferred charges and accrued income | 490/1 | €5,085 | €20,980 | +€15,895 | +313% |
| Total equity and liabilities | 10/49 | €474,987 | €261,442 | -€213,545 | -45.0% |
| Equity | 10/15 | €201,329 | €78,344 | -€122,985 | -61.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €199,329 | €76,344 | -€122,985 | -61.7% |
| Amounts payable | 17/49 | €273,658 | €183,098 | -€90,560 | -33.1% |
| Amounts payable after more than one year | 17 | €55,869 | €21,456 | -€34,413 | -61.6% |
| Financial debts | 170/4 | €55,869 | €21,456 | -€34,413 | -61.6% |
| Amounts payable within one year | 42/48 | €217,789 | €161,642 | -€56,147 | -25.8% |
| Current portion of amounts payable after more than one year | 42 | €45,950 | €39,156 | -€6,794 | -14.8% |
| Trade debts | 44 | €88,046 | €37,986 | -€50,061 | -56.9% |
| Suppliers | 440/4 | €88,046 | €37,986 | -€50,061 | -56.9% |
| Advances received on contracts in progress | 46 | €12,500 | €10,000 | -€2,500 | -20.0% |
| Taxes, remuneration and social security | 45 | €71,293 | €3,632 | -€67,661 | -94.9% |
| Taxes | 450/3 | €34,260 | - | -€34,260 | |
| Remuneration and social security | 454/9 | €37,033 | €3,632 | -€33,401 | -90.2% |
| Other amounts payable | 47/48 | - | €70,868 | +€70,868 | |
| Remuneration, social security and pensions | 62 | €309,083 | €121,518 | -€187,566 | -60.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,082 | €45,468 | -€72,614 | -61.5% |
| Other operating charges | 640/8 | €14,065 | €11,792 | -€2,273 | -16.2% |
| Non-recurring operating charges | 66A | €4,042 | €110,032 | +€105,990 | +2,622% |
| Gross operating margin | 9900 | €514,651 | €183,013 | -€331,637 | -64.4% |
| Operating profit (loss) | 9901 | €69,378 | -€105,797 | -€175,175 | |
| Financial income | 75/76B | €1 | €121 | +€121 | +15,270% |
| Recurring financial income | 75 | €1 | €121 | +€121 | +15,270% |
| Financial charges | 65/66B | €27,580 | €17,309 | -€10,270 | -37.2% |
| Recurring financial charges | 65 | €27,580 | €17,309 | -€10,270 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | €41,799 | -€122,985 | -€164,784 | |
| Income taxes | 67/77 | €30,839 | - | -€30,839 | |
| Profit (loss) for the period | 9904 | €10,960 | -€122,985 | -€133,945 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,960 | -€122,985 | -€133,945 |
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 24 October 2026 via checked.be.