DIVINOR
ActiveSummary
DIVINOR has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €301k and a net result of €-74k. Equity remains stable across the filed fiscal years (±0.6% per year). Its solvency ranks better than 52% of 8048 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability49▼-23
Solvency71▲+11
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17k at 30 days acceptable
Liquidity short (current ratio 0.24 against 0.8 in 2024; short-term debt: 48% and cash: 3.8% of total assets), and 54.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
45.6%
Return on assets
-11.2%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 23-09-2025, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
38 d early
2024
6 d early
2023
14 d early
2022
26 d early
2021
10 d early
2020
3 d early
2019
10 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€301k▼ 19.7%
2024 · €375k
2019: €388k
2020: €452k▲ +16.4% vs 2019
2021: €496k▲ +9.7% vs 2020
2022: €554k▲ +11.8% vs 2021
2023: €645k▲ +16.5% vs 2022highest in 7 years
2024: €375k▼ -41.8% vs 2023
2025: €301k▼ -19.7% vs 2024lowest in 7 years
2019 → 2025
Total assets
€661k▼ 39.2%
2024 · €1.09M
2019: €1.21Mhighest in 7 years
2020: €1.18M▼ -2.4% vs 2019
2021: €1.13M▼ -4.2% vs 2020
2022: €1.09M▼ -3.6% vs 2021
2023: €1.08M▼ -0.5% vs 2022
2024: €1.09M▲ +0.2% vs 2023
2025: €661k▼ -39.2% vs 2024lowest in 7 years
2019 → 2025
Net result
€-74k
2024 · €130k
2019: €71k
2020: €64k▼ -9.7% vs 2019
2021: €44k▼ -31.6% vs 2020
2022: €58k▲ +33.6% vs 2021
2023: €91k▲ +56.4% vs 2022
2024: €130k▲ +42.7% vs 2023highest in 7 years
2025: €-74k▼ -157% vs 2024lowest in 7 years
2019 → 2025
Working capital
€-242k▼ 124%
2024 · €-108k
2019: €98k
2020: €115k▲ +17.5% vs 2019
2021: €120k▲ +4.1% vs 2020
2022: €108k▼ -9.3% vs 2021
2023: €151k▲ +39.0% vs 2022highest in 7 years
2024: €-108k▼ -172% vs 2023
2025: €-242k▼ -124% vs 2024lowest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€496k-€554k▲ 11.8%€645k▲ 16.5%€375k▼ 41.8%€301k▼ 19.7%
2021: €496k
2022: €554k▲ +11.8% vs 2021
2023: €645k▲ +16.5% vs 2022highest in 5 years
2024: €375k▼ -41.8% vs 2023
2025: €301k▼ -19.7% vs 2024lowest in 5 years
Operating result€83k-€104k▲ 24.7%€157k▲ 51.3%€63k▼ 60.2%€42k▼ 32.9%
2021: €83k
2022: €104k▲ +24.7% vs 2021
2023: €157k▲ +51.3% vs 2022highest in 5 years
2024: €63k▼ -60.2% vs 2023
2025: €42k▼ -32.9% vs 2024lowest in 5 years
Net result€44k-€58k▲ 33.6%€91k▲ 56.4%€130k▲ 42.7%€-74k
2021: €44k
2022: €58k▲ +33.6% vs 2021
2023: €91k▲ +56.4% vs 2022
2024: €130k▲ +42.7% vs 2023highest in 5 years
2025: €-74k▼ -157% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 33% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €661k
Fixed assets
€586k ▼ 10.3%
Current assets
€75k ▼ 82.6%
Equity and liabilities €661k
Equity
€301k ▼ 19.7%
Debt
€360k ▼ 49.4%
Debt's share of the balance-sheet total falls from 65.5% to 54.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€111k▼
2024 · €131k
Cash flow
€-5k▼
2024 · €199k
Current ratio
0.24▼
2024 · 0.80
Debt to equity
1.19▼
2024 · 1.89
ROE
-24.6%▼
2024 · 34.7%
ROA
-11.2%▼
2024 · 12.0%
Interest coverage
5.32▲
2024 · 4.56
Debt ≤ 1 year
€317k▼
2024 · €542k
Debt > 1 year
€42k▼
2024 · €169k
Income taxes
€96k▲
2024 · €23k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 55 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.09M€661k▼
Fixed assets21/28€653k€586k▼
Tangible fixed assets22/27€652k€585k▼
Plant, machinery and equipment23€10k€9k▼
Furniture and vehicles24€2k€2k▲
Leasing and similar rights25€619k€556k▼
Other tangible fixed assets26€21k€19k▼
Financial fixed assets28€310€310=
Current assets29/58€434k€75k▼
Amounts receivable within one year40/41€24k€36k▲
Trade receivables40€17k€24k▲
Other amounts receivable41€6k€11k▲
Current investments50/53€350k-
Cash at bank and in hand54/58€44k€25k▼
Deferred charges and accrued income490/1€16k€14k▼
Equity and liabilities
Total equity and liabilities10/49€1.09M€661k▼
Equity10/15€375k€301k▼
Contributions10/11€204k€204k=
Capital10€204k€204k=
Issued capital100€204k€204k=
Reserves13€171k€169k▼
Non-distributable reserves130/1€15k€15k=
Legal reserve130€15k€15k=
Distributable reserves133€156k€154k▼
Profit (loss) carried forward14-€-72k
Amounts payable17/49€711k€360k▼
Amounts payable after more than one year17€169k€42k▼
Financial debts170/4€169k€42k▼
Amounts payable within one year42/48€542k€317k▼
Current portion of amounts payable after more than one year42€124k€126k▲
Trade debts44€6k€3k▼
Suppliers440/4€6k€3k▼
Taxes, remuneration and social security45€17k€1k▼
Taxes450/3€17k€1k▼
Other amounts payable47/48€395k€187k▼
Accrued charges and deferred income492/3€352€247▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€68k€69k▲
Other operating charges640/8€4k€3k▼
Gross operating margin9900€135k€114k▼
Operating profit (loss)9901€63k€42k▼
Financial income75/76B€119k€604▼
Recurring financial income75€119k€604▼
Financial charges65/66B€29k€21k▼
Recurring financial charges65€29k€21k▼
Profit (loss) for the period before taxes9903€153k€22k▼
Income taxes67/77€23k€96k▲
Profit (loss) for the period9904€130k€-74k▼
Profit (loss) for the period to be appropriated9905€130k€-74k▼
Appropriation of the result
Profit (loss) to be appropriated9906€130k€-74k▼
Transfer from equity791/2€4k€2k▼
Transfer to equity691/2€130k-
To the legal reserve6920€7k-
To other reserves6921€123k-
Profit to be distributed694/7€4k-
Return on contributions (dividend)694€4k-
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €67k | €66k | €68k | €68k | €69k | ▲ 0.6% |
| Other operating charges640/8 | - | €2k | €3k | €4k | €3k | ▼ 28.1% |
| Gross operating margin9900 | €166k | €173k | €228k | €135k | €114k | ▼ 15.7% |
| Operating profit (loss)9901 | €83k | €104k | €157k | €63k | €42k | ▼ 32.9% |
| Financial income75/76B | - | €684 | €0 | €119k | €604 | ▼ 99.5% |
| Recurring financial income75 | €0 | €684 | €0 | €119k | €604 | ▼ 99.5% |
| Financial charges65/66B | - | €36k | €29k | €29k | €21k | ▼ 27.5% |
| Recurring financial charges65 | €39k | €36k | €29k | €29k | €21k | ▼ 27.5% |
| Profit (loss) for the period before taxes9903 | €45k | €69k | €128k | €153k | €22k | ▼ 85.8% |
| Income taxes67/77 | €1k | €11k | €37k | €23k | €96k | ▲ 318% |
| Profit (loss) for the period9904 | €44k | €58k | €91k | €130k | €-74k | ▼ 157% |
| Profit (loss) for the period to be appropriated9905 | €44k | €58k | €91k | €130k | €-74k | ▼ 157% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.13M | €1.09M | €1.08M | €1.09M | €661k | ▼ 39.2% |
| Fixed assets21/28 | €899k | €857k | €790k | €653k | €586k | ▼ 10.3% |
| Tangible fixed assets22/27 | €829k | €787k | €720k | €652k | €585k | ▼ 10.3% |
| Plant, machinery and equipment23 | - | €12k | €11k | €10k | €9k | ▼ 10.0% |
| Furniture and vehicles24 | - | €461 | €1k | €2k | €2k | ▲ 30.4% |
| Leasing and similar rights25 | - | €747k | €683k | €619k | €556k | ▼ 10.3% |
| Other tangible fixed assets26 | - | €27k | €24k | €21k | €19k | ▼ 13.0% |
| Financial fixed assets28 | €70k | €70k | €70k | €310 | €310 | = |
| Current assets29/58 | €231k | €233k | €294k | €434k | €75k | ▼ 82.6% |
| Amounts receivable within one year40/41 | €101k | €67k | €22k | €24k | €36k | ▲ 49.9% |
| Trade receivables40 | - | €48k | €17k | €17k | €24k | ▲ 39.9% |
| Other amounts receivable41 | - | €19k | €5k | €6k | €11k | ▲ 76.7% |
| Current investments50/53 | - | - | - | €350k | - | - |
| Cash at bank and in hand54/58 | €125k | €156k | €260k | €44k | €25k | ▼ 42.7% |
| Deferred charges and accrued income490/1 | - | €10k | €13k | €16k | €14k | ▼ 10.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.13M | €1.09M | €1.08M | €1.09M | €661k | ▼ 39.2% |
| Equity10/15 | €496k | €554k | €645k | €375k | €301k | ▼ 19.7% |
| Contributions10/11 | €600k | €600k | €600k | €204k | €204k | = |
| Capital10 | - | €600k | €600k | €204k | €204k | = |
| Issued capital100 | - | €600k | €600k | €204k | €204k | = |
| Reserves13 | €12k | €12k | €45k | €171k | €169k | ▼ 1.4% |
| Non-distributable reserves130/1 | - | €6k | €8k | €15k | €15k | = |
| Legal reserve130 | - | €6k | €8k | €15k | €15k | = |
| Distributable reserves133 | - | €6k | €37k | €156k | €154k | ▼ 1.5% |
| Profit (loss) carried forward14 | €-117k | €-58k | - | - | €-72k | - |
| Amounts payable17/49 | €634k | €536k | €439k | €711k | €360k | ▼ 49.4% |
| Amounts payable after more than one year17 | €522k | €411k | €293k | €169k | €42k | ▼ 74.9% |
| Financial debts170/4 | - | €411k | €293k | €169k | €42k | ▼ 74.9% |
| Amounts payable within one year42/48 | €111k | €124k | €143k | €542k | €317k | ▼ 41.5% |
| Current portion of amounts payable after more than one year42 | - | €111k | €117k | €124k | €126k | ▲ 1.8% |
| Trade debts44 | €1k | €13k | €4k | €6k | €3k | ▼ 52.9% |
| Suppliers440/4 | - | €13k | €4k | €6k | €3k | ▼ 52.9% |
| Taxes, remuneration and social security45 | - | €590 | €22k | €17k | €1k | ▼ 93.7% |
| Taxes450/3 | - | €590 | €22k | €17k | €1k | ▼ 93.7% |
| Other amounts payable47/48 | - | - | - | €395k | €187k | ▼ 52.8% |
| Accrued charges and deferred income492/3 | - | €815 | €3k | €352 | €247 | ▼ 29.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44k | €58k | €91k | €130k | €-74k | ▼ 157% |
| + Depreciation and write-downs630 | €67k | €66k | €68k | €68k | €69k | ▲ 0.6% |
| Operating cash flow (approximation) | €111k | €124k | €159k | €199k | €-5k | ▼ 103% |
| Investment in fixed assets (approximation) | - | €-24k | €-1k | €69k | €-2k | ▼ 103% |
| Change in cash | - | €32k | €103k | €-215k | €-19k | ▲ 91.2% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
23-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Weakest financial yearnet €-74k
Net result drops to €-74k, the lowest in the series.
2024
25-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Highest result since 2019net €130k ▲42.7%
Net result €130k, the highest in the series.
2023
17-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
05-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
31-03
Financial
Equity above €500kEq €554k ▲11.8%
4 profitable years in a row build equity to €554k.
2021
21-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
21-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
25-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
24-11
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
8 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2003
Ground area
1,092 m²
Building footprint
362 m²
Volume, LiDAR
4,159 m³
Parcel 11462A0358/00H000, Flanders · tallest building 14.2 m, ±4 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Boomsesteenweg 440, 2610 Antwerpen
since 20032.126.588.408
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11462A0358/00H000 | Flanders | 1,092 m² | 1 · 362 m² | 14.2 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 567 companies in sector 46480 we hold annual accounts for 353. 250 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded24-02-2003
Fiscal year end31-03
Activities, NACEBEL 2025
46480Wholesale trade
Scores and ratios are computed by Checked and are not a credit decision.