KDelek: what changed
KDelek
Largest movements
- Receivables within one year +€19,850
up €19,850 (+59.8%), from €33,167 to €53,017
of which Trade receivables: +€15,097
- Stocks and contracts +€11,415
up €11,415 (+35.0%), from €32,613 to €44,028
- Cash -€3,719
down €3,719 (-45.9%), from €8,096 to €4,376
mainly Receivables within one year (-€19,850) and Stocks and contracts (-€11,415)
- Tangible fixed assets -€2,665
down €2,665 (-15.5%), from €17,167 to €14,502
of which Plant, machinery and equipment: -€1,643
- Deferred charges and accrued income -€1,629
down €1,629 (-47.1%), from €3,458 to €1,829
- Other debts +€9,841
up €9,841 (+271%), from €3,628 to €13,469
- Profit (loss) carried forward +€8,946
up €8,946 (+15.2%), from €58,757 to €67,703
- Trade debts +€3,673
up €3,673 (+25.8%), from €14,243 to €17,917
- Gross operating margin -€7,808
down €7,808 (-29.6%), from €26,393 to €18,585
- Depreciation -€4,623
down €4,623 (-53.6%), from €8,622 to €3,999
- Other operating charges -€842
down €842 (-39.5%), from €2,134 to €1,292
- Taxes -€661
down €661 (-16.6%), from €3,974 to €3,313
- Financial charges +€563
up €563 (+81.9%), from €687 to €1,249
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €94,500 | €117,752 | +€23,252 | +24.6% |
| Fixed assets | 21/28 | €17,167 | €14,502 | -€2,665 | -15.5% |
| Tangible fixed assets | 22/27 | €17,167 | €14,502 | -€2,665 | -15.5% |
| Plant, machinery and equipment | 23 | €10,916 | €9,273 | -€1,643 | -15.1% |
| Furniture and vehicles | 24 | €5,974 | €5,229 | -€745 | -12.5% |
| Leasing and similar rights | 25 | €277 | - | -€277 | |
| Current assets | 29/58 | €77,334 | €103,250 | +€25,917 | +33.5% |
| Stocks and contracts in progress | 3 | €32,613 | €44,028 | +€11,415 | +35.0% |
| Stocks | 30/36 | €32,613 | €44,028 | +€11,415 | +35.0% |
| Amounts receivable within one year | 40/41 | €33,167 | €53,017 | +€19,850 | +59.8% |
| Trade receivables | 40 | €27,337 | €42,434 | +€15,097 | +55.2% |
| Other amounts receivable | 41 | €5,830 | €10,583 | +€4,753 | +81.5% |
| Cash at bank and in hand | 54/58 | €8,096 | €4,376 | -€3,719 | -45.9% |
| Deferred charges and accrued income | 490/1 | €3,458 | €1,829 | -€1,629 | -47.1% |
| Total equity and liabilities | 10/49 | €94,500 | €117,752 | +€23,252 | +24.6% |
| Equity | 10/15 | €66,817 | €75,763 | +€8,946 | +13.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,757 | €67,703 | +€8,946 | +15.2% |
| Amounts payable | 17/49 | €27,684 | €41,989 | +€14,305 | +51.7% |
| Amounts payable within one year | 42/48 | €27,666 | €41,509 | +€13,843 | +50.0% |
| Current portion of amounts payable after more than one year | 42 | €7,547 | €7,540 | -€7 | -0.1% |
| Trade debts | 44 | €14,243 | €17,917 | +€3,673 | +25.8% |
| Suppliers | 440/4 | €14,243 | €17,917 | +€3,673 | +25.8% |
| Taxes, remuneration and social security | 45 | €2,247 | €2,584 | +€336 | +15.0% |
| Taxes | 450/3 | €2,247 | €2,584 | +€336 | +15.0% |
| Other amounts payable | 47/48 | €3,628 | €13,469 | +€9,841 | +271% |
| Accrued charges and deferred income | 492/3 | €18 | €480 | +€462 | +2,534% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,622 | €3,999 | -€4,623 | -53.6% |
| Other operating charges | 640/8 | €2,134 | €1,292 | -€842 | -39.5% |
| Gross operating margin | 9900 | €26,393 | €18,585 | -€7,808 | -29.6% |
| Operating profit (loss) | 9901 | €15,637 | €13,294 | -€2,343 | -15.0% |
| Financial income | 75/76B | €486 | €214 | -€272 | -55.9% |
| Recurring financial income | 75 | €486 | €214 | -€272 | -55.9% |
| Financial charges | 65/66B | €687 | €1,249 | +€563 | +81.9% |
| Recurring financial charges | 65 | €687 | €1,249 | +€563 | +81.9% |
| Profit (loss) for the period before taxes | 9903 | €15,437 | €12,259 | -€3,178 | -20.6% |
| Income taxes | 67/77 | €3,974 | €3,313 | -€661 | -16.6% |
| Profit (loss) for the period | 9904 | €11,463 | €8,946 | -€2,517 | -22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,463 | €8,946 | -€2,517 | -22.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.