HOLDING DELSAUX: 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.
HOLDING DELSAUX
Largest movements
- Current investments -€1.3m
down €1.3m (-35.6%), from €3.8m to €2.4m
- Cash +€1.2m
up €1.2m (+408%), from €297,860 to €1.5m
mainly Current investments (+€1.3m) and Net result for the year (+€1.1m)
- Receivables within one year +€1.0m
up €1.0m (+2,114%), from €48,400 to €1.1m
of which Other amounts receivable: +€999,000
- Profit (loss) carried forward +€1.1m
up €1.1m (+45.4%), from €2.4m to €3.5m
- Reserves -€80,000
down €80,000 (-5.9%), from €1.4m to €1.3m
of which Distributable reserves: -€80,000
- Financial charges +€93,307
up €93,307, from -€19,925 to €73,382
- Financial income +€87,189
up €87,189 (+8.6%), from €1.0m to €1.1m
- Taxes -€25,092
down €25,092 (-43.8%), from €57,302 to €32,210
- Gross operating margin +€12,653
up €12,653 (+13.2%), from €95,760 to €108,412
- Other operating charges -€1,205
down €1,205 (-55.5%), from €2,173 to €968
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 | €6,191,251 | €7,106,804 | +€915,554 | +14.8% |
| Fixed assets | 21/28 | €2,077,920 | €2,077,920 | = | 0.0% |
| Financial fixed assets | 28 | €2,077,920 | €2,077,920 | = | 0.0% |
| Current assets | 29/58 | €4,113,331 | €5,028,884 | +€915,554 | +22.3% |
| Amounts receivable within one year | 40/41 | €48,400 | €1,071,600 | +€1.0m | +2,114% |
| Trade receivables | 40 | €48,400 | €72,600 | +€24,200 | +50.0% |
| Other amounts receivable | 41 | €0 | €999,000 | +€999,000 | |
| Current investments | 50/53 | €3,758,295 | €2,419,780 | -€1.3m | -35.6% |
| Cash at bank and in hand | 54/58 | €297,860 | €1,513,790 | +€1.2m | +408% |
| Deferred charges and accrued income | 490/1 | €8,776 | €23,714 | +€14,938 | +170% |
| Total equity and liabilities | 10/49 | €6,191,251 | €7,106,804 | +€915,554 | +14.8% |
| Equity | 10/15 | €5,090,884 | €6,115,502 | +€1.0m | +20.1% |
| Contributions | 10/11 | €1,298,400 | €1,298,400 | = | 0.0% |
| Reserves | 13 | €1,359,840 | €1,279,840 | -€80,000 | -5.9% |
| Non-distributable reserves | 130/1 | €129,840 | €129,840 | = | 0.0% |
| Reserves not available under the articles | 1311 | €129,840 | €129,840 | = | 0.0% |
| Distributable reserves | 133 | €1,230,000 | €1,150,000 | -€80,000 | -6.5% |
| Profit (loss) carried forward | 14 | €2,432,644 | €3,537,262 | +€1.1m | +45.4% |
| Amounts payable | 17/49 | €1,100,367 | €991,302 | -€109,065 | -9.9% |
| Amounts payable within one year | 42/48 | €1,100,367 | €991,302 | -€109,065 | -9.9% |
| Trade debts | 44 | €2,913 | €0 | -€2,913 | -100% |
| Suppliers | 440/4 | €2,913 | €0 | -€2,913 | -100% |
| Taxes, remuneration and social security | 45 | €63,077 | €14,401 | -€48,676 | -77.2% |
| Taxes | 450/3 | €58,332 | €9,656 | -€48,676 | -83.4% |
| Remuneration and social security | 454/9 | €4,746 | €4,746 | = | 0.0% |
| Other amounts payable | 47/48 | €1,034,377 | €976,901 | -€57,477 | -5.6% |
| Other operating charges | 640/8 | €2,173 | €968 | -€1,205 | -55.5% |
| Gross operating margin | 9900 | €95,760 | €108,412 | +€12,653 | +13.2% |
| Operating profit (loss) | 9901 | €93,587 | €107,445 | +€13,858 | +14.8% |
| Financial income | 75/76B | €1,015,577 | €1,102,766 | +€87,189 | +8.6% |
| Recurring financial income | 75 | €1,015,577 | €1,102,766 | +€87,189 | +8.6% |
| Financial charges | 65/66B | -€19,925 | €73,382 | +€93,307 | |
| Recurring financial charges | 65 | -€19,925 | €73,382 | +€93,307 | |
| Profit (loss) for the period before taxes | 9903 | €1,129,089 | €1,136,829 | +€7,740 | +0.7% |
| Income taxes | 67/77 | €57,302 | €32,210 | -€25,092 | -43.8% |
| Profit (loss) for the period | 9904 | €1,071,787 | €1,104,619 | +€32,832 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,071,787 | €1,104,619 | +€32,832 | +3.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.