BELGIUM DIVING: 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.
BELGIUM DIVING
Largest movements
- Intangible fixed assets -€55,000
down €55,000 (-50.0%), from €110,000 to €55,000
- Cash -€39,531
down €39,531 (-52.2%), from €75,737 to €36,206
mainly Net result for the year (-€102,856) and Current investments (-€35,000)
- Current investments +€35,000
new in 2025: €35,000
- Tangible fixed assets -€18,427
down €18,427 (-35.5%), from €51,900 to €33,473
of which Furniture and vehicles: -€11,700
- Reserves -€96,500
down €96,500 (-73.4%), from €131,500 to €35,000
of which Distributable reserves: -€131,500
- Trade debts +€32,125
up €32,125 (+162%), from €19,851 to €51,976
- Debts after one year -€20,004
down €20,004 (-57.2%), from €34,987 to €14,983
- Other debts +€17,500
new in 2025: €17,500
- Profit (loss) carried forward -€6,356
down €6,356, from €262 to -€6,094
- Gross operating margin -€168,758
down €168,758 (-30.6%), from €552,306 to €383,548
- Taxes -€20,398
down €20,398 (-100%), from €20,398 to €0
- Staff costs -€16,454
down €16,454 (-3.9%), from €424,822 to €408,368
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 | €367,510 | €290,255 | -€77,255 | -21.0% |
| Fixed assets | 21/28 | €162,020 | €88,593 | -€73,427 | -45.3% |
| Intangible fixed assets | 21 | €110,000 | €55,000 | -€55,000 | -50.0% |
| Tangible fixed assets | 22/27 | €51,900 | €33,473 | -€18,427 | -35.5% |
| Plant, machinery and equipment | 23 | €7,094 | €367 | -€6,727 | -94.8% |
| Furniture and vehicles | 24 | €44,806 | €33,106 | -€11,700 | -26.1% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €205,489 | €201,662 | -€3,827 | -1.9% |
| Amounts receivable within one year | 40/41 | €119,824 | €121,946 | +€2,121 | +1.8% |
| Trade receivables | 40 | €113,482 | €117,352 | +€3,870 | +3.4% |
| Other amounts receivable | 41 | €6,342 | €4,593 | -€1,749 | -27.6% |
| Current investments | 50/53 | - | €35,000 | +€35,000 | |
| Cash at bank and in hand | 54/58 | €75,737 | €36,206 | -€39,531 | -52.2% |
| Deferred charges and accrued income | 490/1 | €9,928 | €8,510 | -€1,418 | -14.3% |
| Total equity and liabilities | 10/49 | €367,510 | €290,255 | -€77,255 | -21.0% |
| Equity | 10/15 | €231,762 | €128,906 | -€102,856 | -44.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €131,500 | €35,000 | -€96,500 | -73.4% |
| Non-distributable reserves | 130/1 | - | €35,000 | +€35,000 | |
| Own shares acquired | 1312 | - | €35,000 | +€35,000 | |
| Distributable reserves | 133 | €131,500 | €0 | -€131,500 | -100% |
| Profit (loss) carried forward | 14 | €262 | -€6,094 | -€6,356 | |
| Amounts payable | 17/49 | €135,747 | €161,349 | +€25,602 | +18.9% |
| Amounts payable after more than one year | 17 | €34,987 | €14,983 | -€20,004 | -57.2% |
| Other amounts payable | 178/9 | €34,987 | €14,983 | -€20,004 | -57.2% |
| Amounts payable within one year | 42/48 | €100,760 | €146,366 | +€45,606 | +45.3% |
| Current portion of amounts payable after more than one year | 42 | €20,004 | €20,004 | = | 0.0% |
| Trade debts | 44 | €19,851 | €51,976 | +€32,125 | +162% |
| Suppliers | 440/4 | €19,851 | €51,976 | +€32,125 | +162% |
| Taxes, remuneration and social security | 45 | €60,906 | €56,886 | -€4,020 | -6.6% |
| Taxes | 450/3 | €27,725 | €19,694 | -€8,030 | -29.0% |
| Remuneration and social security | 454/9 | €33,181 | €37,191 | +€4,010 | +12.1% |
| Other amounts payable | 47/48 | - | €17,500 | +€17,500 | |
| Remuneration, social security and pensions | 62 | €424,822 | €408,368 | -€16,454 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,538 | €73,427 | +€3,890 | +5.6% |
| Other operating charges | 640/8 | €2,437 | €2,284 | -€154 | -6.3% |
| Gross operating margin | 9900 | €552,306 | €383,548 | -€168,758 | -30.6% |
| Operating profit (loss) | 9901 | €55,509 | -€100,531 | -€156,040 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €2,842 | €2,325 | -€517 | -18.2% |
| Recurring financial charges | 65 | €2,842 | €2,325 | -€517 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €52,668 | -€102,856 | -€155,524 | |
| Income taxes | 67/77 | €20,398 | €0 | -€20,398 | -100% |
| Profit (loss) for the period | 9904 | €32,270 | -€102,856 | -€135,126 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,270 | -€102,856 | -€135,126 |
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 16 October 2026 via checked.be.