DALEM: 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.
DALEM
Largest movements
- Current investments -€250,000
down €250,000 (-100%), from €250,000 to €0
- Cash +€141,531
up €141,531 (+141%), from €100,535 to €242,066
mainly Current investments (+€250,000) and Depreciation (+€31,861)
- Tangible fixed assets +€75,228
up €75,228 (+1.8%), from €4.2m to €4.3m
of which Land and buildings: +€72,624
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€14,233
down €14,233, from €9,477 to -€4,756
- Financial income -€7,098
down €7,098 (-60.3%), from €11,780 to €4,682
- Depreciation +€3,782
up €3,782 (+13.5%), from €28,079 to €31,861
- Other operating charges +€117
up €117 (+3.1%), from €3,717 to €3,834
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 | €4,536,142 | €4,500,743 | -€35,399 | -0.8% |
| Fixed assets | 21/28 | €4,178,742 | €4,253,970 | +€75,228 | +1.8% |
| Tangible fixed assets | 22/27 | €4,178,742 | €4,253,970 | +€75,228 | +1.8% |
| Land and buildings | 22 | €4,178,742 | €4,251,365 | +€72,624 | +1.7% |
| Plant, machinery and equipment | 23 | - | €1,999 | +€1,999 | |
| Furniture and vehicles | 24 | - | €606 | +€606 | |
| Current assets | 29/58 | €357,400 | €246,773 | -€110,627 | -31.0% |
| Amounts receivable within one year | 40/41 | €5,524 | €2,235 | -€3,289 | -59.5% |
| Trade receivables | 40 | - | €830 | +€830 | |
| Other amounts receivable | 41 | €5,524 | €1,405 | -€4,119 | -74.6% |
| Current investments | 50/53 | €250,000 | €0 | -€250,000 | -100% |
| Cash at bank and in hand | 54/58 | €100,535 | €242,066 | +€141,531 | +141% |
| Deferred charges and accrued income | 490/1 | €1,341 | €2,472 | +€1,131 | +84.4% |
| Total equity and liabilities | 10/49 | €4,536,142 | €4,500,743 | -€35,399 | -0.8% |
| Equity | 10/15 | €4,536,049 | €4,500,236 | -€35,813 | -0.8% |
| Contributions | 10/11 | €4,611,490 | €4,611,490 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,441 | -€111,254 | -€35,813 | -47.5% |
| Amounts payable | 17/49 | €93 | €507 | +€414 | +444% |
| Amounts payable within one year | 42/48 | €43 | €0 | -€43 | -100% |
| Trade debts | 44 | €43 | €0 | -€43 | -100% |
| Suppliers | 440/4 | €43 | €0 | -€43 | -100% |
| Accrued charges and deferred income | 492/3 | €50 | €507 | +€457 | +914% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,079 | €31,861 | +€3,782 | +13.5% |
| Other operating charges | 640/8 | €3,717 | €3,834 | +€117 | +3.1% |
| Gross operating margin | 9900 | €9,477 | -€4,756 | -€14,233 | |
| Operating profit (loss) | 9901 | -€22,319 | -€40,450 | -€18,131 | -81.2% |
| Financial income | 75/76B | €11,780 | €4,682 | -€7,098 | -60.3% |
| Recurring financial income | 75 | €11,780 | €4,682 | -€7,098 | -60.3% |
| Financial charges | 65/66B | €89 | €45 | -€44 | -49.9% |
| Recurring financial charges | 65 | €89 | €45 | -€44 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | -€10,628 | -€35,813 | -€25,184 | -237% |
| Profit (loss) for the period | 9904 | -€10,628 | -€35,813 | -€25,184 | -237% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,628 | -€35,813 | -€25,184 | -237% |
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.