DELOH: 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.
DELOH
Largest movements
- Intangible fixed assets -€82,450
down €82,450 (-25.8%), from €319,152 to €236,702
- Tangible fixed assets -€18,520
down €18,520 (-27.8%), from €66,725 to €48,205
of which Plant, machinery and equipment: -€11,531
- Receivables within one year +€7,549
up €7,549 (+51.1%), from €14,765 to €22,314
of which Trade receivables: +€6,728
- Cash +€6,547
up €6,547 (+101%), from €6,502 to €13,049
mainly Depreciation (+€100,970) and Trade debts (+€13,435)
- Other debts -€70,762
down €70,762 (-72.8%), from €97,228 to €26,466
- Profit (loss) carried forward -€43,596
down €43,596 (-20.7%), from -€210,782 to -€254,377
- Trade debts +€13,435
up €13,435 (+50.0%), from €26,893 to €40,327
- Debts after one year +€8,055
up €8,055 (+2.3%), from €347,069 to €355,124
- Turnover +€96,975
up €96,975 (+11.0%), from €880,265 to €977,240
- Gross operating margin +€71,858
up €71,858 (+22.7%), from €316,380 to €388,239
- Purchases and services +€22,443
up €22,443 (+3.9%), from €571,184 to €593,627
- Staff costs -€13,835
down €13,835 (-4.1%), from €334,410 to €320,575
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 | €436,442 | €350,785 | -€85,657 | -19.6% |
| Fixed assets | 21/28 | €385,876 | €284,907 | -€100,970 | -26.2% |
| Intangible fixed assets | 21 | €319,152 | €236,702 | -€82,450 | -25.8% |
| Tangible fixed assets | 22/27 | €66,725 | €48,205 | -€18,520 | -27.8% |
| Plant, machinery and equipment | 23 | €52,811 | €41,280 | -€11,531 | -21.8% |
| Furniture and vehicles | 24 | €13,914 | €6,925 | -€6,989 | -50.2% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €50,565 | €65,878 | +€15,313 | +30.3% |
| Stocks and contracts in progress | 3 | €29,298 | €30,508 | +€1,210 | +4.1% |
| Stocks | 30/36 | €29,298 | €30,508 | +€1,210 | +4.1% |
| Amounts receivable within one year | 40/41 | €14,765 | €22,314 | +€7,549 | +51.1% |
| Trade receivables | 40 | €14,018 | €20,746 | +€6,728 | +48.0% |
| Other amounts receivable | 41 | €747 | €1,568 | +€821 | +110% |
| Cash at bank and in hand | 54/58 | €6,502 | €13,049 | +€6,547 | +101% |
| Deferred charges and accrued income | 490/1 | - | €6 | +€6 | |
| Total equity and liabilities | 10/49 | €436,442 | €350,785 | -€85,657 | -19.6% |
| Equity | 10/15 | -€99,426 | -€143,022 | -€43,596 | -43.8% |
| Contributions | 10/11 | €109,503 | €109,503 | = | 0.0% |
| Reserves | 13 | €1,853 | €1,853 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,853 | €1,853 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,853 | €1,853 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€210,782 | -€254,377 | -€43,596 | -20.7% |
| Amounts payable | 17/49 | €535,868 | €493,807 | -€42,061 | -7.8% |
| Amounts payable after more than one year | 17 | €347,069 | €355,124 | +€8,055 | +2.3% |
| Financial debts | 170/4 | €347,069 | €355,124 | +€8,055 | +2.3% |
| Amounts payable within one year | 42/48 | €188,799 | €138,683 | -€50,116 | -26.5% |
| Current portion of amounts payable after more than one year | 42 | €2,679 | €2,679 | = | 0.0% |
| Financial debts | 43 | - | €3,177 | +€3,177 | |
| Credit institutions | 430/8 | - | €3,177 | +€3,177 | |
| Trade debts | 44 | €26,893 | €40,327 | +€13,435 | +50.0% |
| Suppliers | 440/4 | €26,893 | €40,327 | +€13,435 | +50.0% |
| Taxes, remuneration and social security | 45 | €62,000 | €66,033 | +€4,034 | +6.5% |
| Taxes | 450/3 | €19,308 | €22,328 | +€3,020 | +15.6% |
| Remuneration and social security | 454/9 | €42,691 | €43,705 | +€1,014 | +2.4% |
| Other amounts payable | 47/48 | €97,228 | €26,466 | -€70,762 | -72.8% |
| Turnover | 70 | €880,265 | €977,240 | +€96,975 | +11.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €571,184 | €593,627 | +€22,443 | +3.9% |
| Remuneration, social security and pensions | 62 | €334,410 | €320,575 | -€13,835 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,624 | €100,970 | +€346 | +0.3% |
| Other operating charges | 640/8 | €2,950 | €1,932 | -€1,019 | -34.5% |
| Gross operating margin | 9900 | €316,380 | €388,239 | +€71,858 | +22.7% |
| Operating profit (loss) | 9901 | -€121,605 | -€35,238 | +€86,367 | +71.0% |
| Financial income | 75/76B | €19,457 | €16,183 | -€3,274 | -16.8% |
| Recurring financial income | 75 | €19,185 | €14 | -€19,171 | -99.9% |
| Non-recurring financial income | 76B | €272 | €16,168 | +€15,896 | +5,844% |
| Financial charges | 65/66B | €18,040 | €24,541 | +€6,500 | +36.0% |
| Recurring financial charges | 65 | €18,040 | €24,541 | +€6,500 | +36.0% |
| Profit (loss) for the period before taxes | 9903 | -€120,188 | -€43,596 | +€76,592 | +63.7% |
| Profit (loss) for the period | 9904 | -€120,188 | -€43,596 | +€76,592 | +63.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€120,188 | -€43,596 | +€76,592 | +63.7% |
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 29 October 2026 via checked.be.