Foreword

Foreword
The cover of this annual report features a work of art by Joana Schneider that can be admired at our recently renovated DELA Maaslanden crematorium in Nieuwkuijk. The work is made of recycled rope from the fishing industry, a material with a long history that, through bundling, knotting, and coiling, is given new form and relevance.
That idea resonates with DELA. For nearly 90 years now, we have been building on a solid basis: our cooperative heart. For nearly 90 years now, we have continued to change and adapt in the knowledge that we play an important role in society by making a thoughtful, dignified, and colourful funeral possible for everyone. Because we want to stand strong as a modern cooperative that is relevant to its members in 90 years from now as well. Funerals will be different, depending on what people want at that time. Just like the recycled rope that retains its essence but in a new form, we continue to reshape the future on the basis of our trusted values.
Review
The past five years were devoted to strengthening and developing our cooperative. We expanded our services and consolidated our position through the integration of Yarden and the addition of several local funeral companies. We continued to grow internationally as well, which increased our scale of operations and enabled us to reach more people.
This course was maintained in 2025. We closed another strong financial year and passed the one million mark for the number of people we insure in Belgium. In total, we now insure 5.6 million people and provide more than 54,000 funerals and 52,000 cremations a year. Member and customer satisfaction remains high, and our reputation strong, which underlines the trust in our organisation.
Challenges of today and tomorrow
The market is changing at a rapid pace. In all the countries where we operate, we see changing customer needs and societal trends that place demands on our products and services: more personalisation, greater transparency, and affordability. These changes have an impact on our costs, our scale, and our employees.
Employee satisfaction remained the same in the past year after a previous decline. We can still compete with the top of the labour market, and we continue to invest in a healthy, safe, inclusive, and pleasant working environment where colleagues feel seen, heard, and supported. Only then can they remain relevant to members, policyholders, bereaved families, guests, fellow funeral directors, and our partners/suppliers.
Continuous development
We continue to develop our products and services to meet people's needs. Our funeral services offer increasing room for personal touches and ultimate hospitality, ample catering options, and a wider range of ways for people to be together.
We are also taking definite steps towards sustainability, such as via green locations, electric cremators, more conscious use of resources, and choices that contribute to responsible business operations and good employment practices.
We are aware the people see funeral insurance as more than just a product. It is a promise to their loved ones that everything is all set for the future. That is why we continue to improve our insurance solutions with accessible products that are tailored to different stages of life and changing circumstances – with affordability remaining a key driver.
New strategic course
In 2025, we rounded off an important phase: the development of our new strategic course. We remain focused on funeral insurance and funeral services as our core business, but our new mission of 'Well-being around a final farewell' broadens our approach. We ask ourselves: what can we do to improve people's well-being before, during, and after a funeral? That goes beyond providing a dignified final farewell. It means everything that people need in the period before, during, and after someone dies – out of humaneness, understanding, and solidarity.
We as a cooperative do that because we know we all stand stronger when we stand together. Since our very beginning, solidarity and mutual commitment have always been at the heart of how we work. The new strategic course strengthens that foundation while giving us room to expand our activities in ways that improve people's well-being in the period before, during, and after someone dies. That calls for collaboration and trust between colleagues as well as with our members, customers, partners, and fellow funeral directors.
Just like the work of art on the cover, we continue to adapt to a changing world by building on a strong core. We as a cooperative have long-term obligations, and we want people to be able to count on us in 90 years from now as well. That calls for developing and moving in the same direction together – so that we at DELA stay relevant to everyone who trusts in us.
Eindhoven, 22 April 2026
Also on behalf of the Executive Board
Sandra Schellekens, CEO
Godelieve van Velsen, CFRO
This is an English translation of the original Dutch text. In case of any conflict between this translation and the original text, the latter will prevail.
Key figures

Key figures
Financial
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | |||||
| x €1,000 | |||||
| Revenue from insurance business | 774,505 | 743,941 | 712,701 | 669,011 | 592,472 |
| Revenue from funeral business | 428,366 | 417,536 | 383,684 | 365,121 | 317,723 |
| Other revenue | 16,546 | 714 | 757 | 39 | 3,236 |
| Gross revenue | 1,219,416 | 1,162,191 | 1,097,142 | 1,034,171 | 913,431 |
| Distribution of investment income | |||||
| x €1,000 | |||||
| Net investment result | 516,404 | 554,500 | 336,648 | -841,467 | 646,420 |
| Less: for future insurance claims* | -220,581 | -204,959 | -189,851 | -178,841 | -160,094 |
| Remaining for financial position** | 295,823 | 349,541 | 146,797 | -1,020,308 | 486,326 |
| Profit share | |||||
| x €1,000 | |||||
| Profit share | 264,798 | 281,247 | 249,224 | 43,654 | 5,940 |
| Balance sheet | |||||
| x €1 million | |||||
| Total assets** | 10,791 | 10,274 | 9,453 | 9,005 | 9,680 |
| Value of investments | 10,236 | 9,698 | 8,842 | 8,470 | 9,080 |
| Technical provision** | 9,154 | 8,590 | 8,021 | 7,532 | 7,172 |
| Equity** | 1,230 | 1,146 | 1,009 | 1,061 | 1,782 |
| ... as percentage of technical provision | 13% | 13% | 13% | 14% | 25% |
| Insured capital | |||||
| x €1 million | |||||
| Insured capital | 83,510 | 79,773 | 78,605 | 72,970 | 68,678 |
| Coverage ratio | |||||
| Average coverage ratio*** | 198% | 217% | 251% | 195% | 129% |
| Solvency | |||||
| Solvency II ratio | 213% | 200% | 208% | 226% | 236% |
Non financial
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Reputation | |||||
| StakeholderWatch pulse | |||||
| Netherlands | 74 | 74 | 72 | 66 | 63 |
| Belgium | 71 | 67 | 63 | - | - |
| Group | 73 | 71 | 68 | 66 | 63 |
| Members | |||||
| Number | 3,984,063 | 3,955,481 | 3,311,447 | 3,223,641 | 3,179,843 |
| Customer satisfaction | |||||
| NPS | |||||
| Insurance | 55 | 54 | 53 | 53 | 53 |
| Funeral services | 77 | 77 | 76 | 76 | 77 |
| Group | 64 | 64 | 62 | 63 | 64 |
| Funerals | |||||
| Number | |||||
| Netherlands | 41,723 | 43,155 | 41,028 | 39,800 | 36,168 |
| Belgium | 12,776 | 12,993 | 12,679 | 12,764 | 11,995 |
| Total | 54,499 | 56,148 | 53,707 | 52,564 | 48,163 |
| Cremations | |||||
| Number at own crematoriums | |||||
| Netherlands | 44,927 | 44,827 | 43,083 | 42,955 | 32,747 |
| Belgium | 7,094 | 7,140 | 7,194 | 7,301 | 7,661 |
| Total | 52,021 | 51,967 | 50,277 | 50,256 | 40,408 |
| Insured persons | |||||
| Number at year-end | |||||
| Netherlands | 4,261,896 | 4,277,150 | 4,296,572 | 4,295,361 | 4,287,483 |
| Belgium | 1,003,296 | 977,541 | 947,996 | 928,029 | 908,822 |
| Germany | 341,202 | 321,551 | 294,373 | 266,072 | 103,786 |
| Total | 5,606,394 | 5,576,242 | 5,538,941 | 5,489,462 | 5,300,091 |
| Employee satisfaction | |||||
| eNPS | |||||
| Netherlands | 29 | 27 | 36 | 44 | 51 |
| Belgium | 39 | 54 | 53 | 53 | 54 |
| Germany | 10 | 10 | 8 | - | - |
| Group | 30 | 30 | 38 | 45 | 52 |
| Employees | |||||
| FTEs, year-end | |||||
| Netherlands | 1,935 | 1,806 | 1,746 | 1,606 | 1,735 |
| Belgium | 456 | 438 | 434 | 430 | 416 |
| Germany | 55 | 54 | 45 | 38 | 28 |
| Total | 2,445 | 2,298 | 2,225 | 2,074 | 2,179 |
| Carbon emissions* | |||||
| x 1 metric tonne | |||||
| Scope 1 | 8,726 | 9,828 | 10,495 | - | 13,544 |
| Scope 2 | 412 | 370 | 711 | - | 2,263 |
| Total Scope 1 and 2 | 9,139 | 10,198 | 11,206 | - | 15,807 |