Deleuze ended 2025 with a net profit of around nine million euros, which is 85 percent lower than in 2024. This decline is the result of negative business in the last quarter, the company adds data from the newly published financial report.
"In order to mitigate the negative effects of the Margin Restriction Regulation, in the fourth quarter of 2025, the company was forced to close 25 stores and take a number of other measures with the aim of adapting to the new circumstances," announced Deleza. "Despite this, the company recorded a negative business result in that quarter, as a direct impact of the regulation."
If Deleuze closed a double-digit number of shops under the explanation of the state regulation that was popularly called "Vučić's Margins", first published by "Vreme". In addition to Deleuze, other retail chains have closed stores, but some have argued that they did so as part of the normal procedure and pace of decision-making, and not solely because of government measures. The editors also published internal dismissal document which the executive board of Delez Srbija sent to employees, in which Vučić's margins are directly blamed for changes in business dynamics.
This company is requested arbitration before the International Court of Justice in Washington due to imposed margins in Serbia.
Miraculous fiasco
Price movements
Deleuze's net profit rate in 2025 was 0,6 percent, which is a decrease compared to the year before when it was 4,4 percent, it is also stated. The return of 0,6 percent, on approximately one billion euros of invested capital, is significantly less than the usual economic parameters for companies of this scale and capital intensity, they add.
Total revenues in the amount of around 1,4 billion euros have increased compared to 2024 by around seven million euros, which represents a nominal increase in sales of 0,5 percent. The purchase value of the sold goods increased by around 30 million euros, which indicates that the increase in the cost of goods significantly exceeded the increase in income from their sale, they add. the average annual inflation of regular retail prices in our system amounted to 0,3 percent, while the interannual inflation of food prices in Serbia, according to the data of the Republic Institute of Statistics, amounted to 2,7 percent.
"This means that our sales prices grew several times slower than the movement of food prices on the market," Deleuze said in a statement.
Real journalism costs money, and we will not be bought by tycoons and corporations. Support us with a one-time or monthly donation. The time for it is now!
