Dinavier: 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.
What changed
Dinavier
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€724,821
2024 · €85,367+€639,454
Equity
€1.8m
2024 · €1.1m+€724,821
Cash
€239,122
2024 · €12,264+€226,858
Balance sheet total
€6.8m
2024 · €7.0m-€191,508
Largest movements
Assets
- Tangible fixed assets -€406,825
down €406,825 (-5.9%), from €6.9m to €6.5m
- Cash +€226,858
up €226,858 (+1,850%), from €12,264 to €239,122
mainly Net result for the year (+€724,821) and Depreciation (+€250,162)
Equity and liabilities
- Reserves +€724,821
up €724,821 (+70.2%), from €1.0m to €1.8m
of which Tax-exempt reserves: +€490,375
- Debts after one year -€669,478
down €669,478 (-13.6%), from €4.9m to €4.2m
- Other debts -€422,941
down €422,941 (-90.4%), from €467,709 to €44,768
- Provisions +€163,458
up €163,458 (+345%), from €47,330 to €210,788
of which Deferred taxes: +€210,788
Income statement
- Gross operating margin +€845,796
up €845,796 (+138%), from €613,837 to €1.5m
- Taxes +€49,828
up €49,828 (+163%), from €30,584 to €80,413
- Depreciation -€35,312
down €35,312 (-12.4%), from €285,473 to €250,162
- Financial charges +€19,088
up €19,088 (+11.8%), from €162,101 to €181,189
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.
Result 2024
€85,367
Gross operating margin
+€845,796
Depreciation
+€35,312
Other operating charges
-€7,899
Financial income
+€749
Financial charges
-€19,088
Taxes
-€49,828
Deferred taxes and other
-€165,587
Result 2025
€724,821
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€735,595
Investment
+€156,663
Financing
-€665,400
Cash 2024
€12,264
From operations (derived)
+€735,595
Net result for the year
+€724,821
Depreciation
+€250,162
Receivables within one year
+€13,049
Smaller working-capital items
-€2,543
Provisions
+€163,458
Tax, wage and social debts
+€17,480
Advances received
-€33,659
Other debts
-€422,941
Accrued charges and deferred income
+€25,769
Investment (derived)
+€156,663
Investment in fixed assets (net)
+€156,663
Financing
-€665,400
Debts after one year
-€669,478
Current portion of long-term debt
+€4,144
Short-term financial debts
-€66
Cash 2025
€239,122
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,954,189 | €6,762,681 | -€191,508 | -2.8% |
| Fixed assets | 21/28 | €6,900,195 | €6,493,370 | -€406,825 | -5.9% |
| Tangible fixed assets | 22/27 | €6,899,775 | €6,492,950 | -€406,825 | -5.9% |
| Land and buildings | 22 | €6,899,775 | €6,492,950 | -€406,825 | -5.9% |
| Financial fixed assets | 28 | €420 | €420 | = | 0.0% |
| Current assets | 29/58 | €53,994 | €269,311 | +€215,317 | +399% |
| Amounts receivable within one year | 40/41 | €29,139 | €16,090 | -€13,049 | -44.8% |
| Trade receivables | 40 | - | €6,674 | +€6,674 | |
| Other amounts receivable | 41 | €29,139 | €9,416 | -€19,723 | -67.7% |
| Cash at bank and in hand | 54/58 | €12,264 | €239,122 | +€226,858 | +1,850% |
| Deferred charges and accrued income | 490/1 | €12,592 | €14,100 | +€1,508 | +12.0% |
| Total equity and liabilities | 10/49 | €6,954,189 | €6,762,681 | -€191,508 | -2.8% |
| Equity | 10/15 | €1,094,453 | €1,819,274 | +€724,821 | +66.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,032,453 | €1,757,274 | +€724,821 | +70.2% |
| Non-distributable reserves | 130/1 | €6,202 | €6,202 | = | 0.0% |
| Legal reserve | 130 | €6,202 | €6,202 | = | 0.0% |
| Tax-exempt reserves | 132 | €141,990 | €632,365 | +€490,375 | +345% |
| Distributable reserves | 133 | €884,261 | €1,118,707 | +€234,446 | +26.5% |
| Provisions and deferred taxes | 16 | €47,330 | €210,788 | +€163,458 | +345% |
| Provisions for liabilities and charges | 160/5 | €47,330 | - | -€47,330 | |
| Taxes | 161 | €47,330 | - | -€47,330 | |
| Deferred taxes | 168 | - | €210,788 | +€210,788 | |
| Amounts payable | 17/49 | €5,812,406 | €4,732,619 | -€1.1m | -18.6% |
| Amounts payable after more than one year | 17 | €4,909,190 | €4,239,712 | -€669,478 | -13.6% |
| Financial debts | 170/4 | €4,909,190 | €4,239,712 | -€669,478 | -13.6% |
| Amounts payable within one year | 42/48 | €884,261 | €448,183 | -€436,078 | -49.3% |
| Current portion of amounts payable after more than one year | 42 | €330,742 | €334,886 | +€4,144 | +1.3% |
| Financial debts | 43 | €13,523 | €13,457 | -€66 | -0.5% |
| Credit institutions | 430/8 | €13,523 | €13,457 | -€66 | -0.5% |
| Trade debts | 44 | €8,725 | €7,690 | -€1,036 | -11.9% |
| Suppliers | 440/4 | €8,725 | €7,690 | -€1,036 | -11.9% |
| Advances received on contracts in progress | 46 | €33,659 | - | -€33,659 | |
| Taxes, remuneration and social security | 45 | €29,902 | €47,381 | +€17,480 | +58.5% |
| Taxes | 450/3 | €29,902 | €47,381 | +€17,480 | +58.5% |
| Other amounts payable | 47/48 | €467,709 | €44,768 | -€422,941 | -90.4% |
| Accrued charges and deferred income | 492/3 | €18,955 | €44,724 | +€25,769 | +136% |
| Non-recurring operating income | 76A | - | €722,137 | +€722,137 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €285,473 | €250,162 | -€35,312 | -12.4% |
| Other operating charges | 640/8 | €52,439 | €60,339 | +€7,899 | +15.1% |
| Gross operating margin | 9900 | €613,837 | €1,459,633 | +€845,796 | +138% |
| Operating profit (loss) | 9901 | €275,924 | €1,149,133 | +€873,209 | +316% |
| Financial income | 75/76B | - | €749 | +€749 | |
| Recurring financial income | 75 | - | €749 | +€749 | |
| Financial charges | 65/66B | €162,101 | €181,189 | +€19,088 | +11.8% |
| Recurring financial charges | 65 | €162,101 | €181,189 | +€19,088 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €113,823 | €968,692 | +€854,869 | +751% |
| Transfer from deferred taxes | 780 | €2,129 | €16,475 | +€14,346 | +674% |
| Transfer to deferred taxes | 680 | - | €179,933 | +€179,933 | |
| Income taxes | 67/77 | €30,584 | €80,413 | +€49,828 | +163% |
| Profit (loss) for the period | 9904 | €85,367 | €724,821 | +€639,454 | +749% |
| Transfer from tax-exempt reserves | 789 | €6,385 | €49,424 | +€43,038 | +674% |
| Transfer to tax-exempt reserves | 689 | - | €539,799 | +€539,799 | |
| Profit (loss) for the period to be appropriated | 9905 | €91,753 | €234,446 | +€142,693 | +156% |
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 25 October 2026 via checked.be.