DIVACO: what changed
Two fiscal 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.
DIVACO
Largest movements
- Cash -€82,343
down €82,343 (-93.9%), from €87,708 to €5,364
mainly Stocks and contracts (-€50,367) and Receivables within one year (-€31,923)
- Stocks and contracts +€50,367
up €50,367 (+14.8%), from €340,416 to €390,783
- Receivables within one year +€31,923
up €31,923 (+17.8%), from €179,295 to €211,218
of which Trade receivables: +€56,053
- Deferred charges and accrued income +€7,868
up €7,868 (+111.5%), from €7,057 to €14,925
- Other debts -€31,508
down €31,508 (-31.8%), from €99,104 to €67,596
- Reserves +€26,700
up €26,700 (+5.8%), from €463,935 to €490,635
of which Distributable reserves: +€26,700
- Tax, wage and social debts +€14,314
up €14,314 (+189.0%), from €7,575 to €21,889
- Accrued charges and deferred income -€8,314
down €8,314 (-53.4%), from €15,568 to €7,254
- Gross operating margin +€91,966
up €91,966, from -€40,952 to €51,014
- Depreciation -€14,636
down €14,636 (-65.6%), from €22,295 to €7,658
- Other operating charges -€14,052
down €14,052 (-61.3%), from €22,919 to €8,867
- Financial charges -€3,964
down €3,964 (-42.4%), from €9,342 to €5,378
- Staff costs -€1,240
down €1,240 (-34.1%), from €3,643 to €2,403
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.
Cash bridge derived
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 | €676,946 | €684,102 | +€7,156 | +1.1% |
| Fixed assets | 21/28 | €62,470 | €61,812 | -€658 | -1.1% |
| Tangible fixed assets | 22/27 | €18,234 | €17,576 | -€658 | -3.6% |
| Plant, machinery and equipment | 23 | €1,878 | €1,278 | -€600 | -31.9% |
| Furniture and vehicles | 24 | €16,356 | €16,297 | -€58 | -0.4% |
| Financial fixed assets | 28 | €44,236 | €44,236 | = | 0.0% |
| Current assets | 29/58 | €614,476 | €622,290 | +€7,814 | +1.3% |
| Stocks and contracts in progress | 3 | €340,416 | €390,783 | +€50,367 | +14.8% |
| Stocks | 30/36 | €340,416 | €390,783 | +€50,367 | +14.8% |
| Amounts receivable within one year | 40/41 | €179,295 | €211,218 | +€31,923 | +17.8% |
| Trade receivables | 40 | €155,165 | €211,218 | +€56,053 | +36.1% |
| Other amounts receivable | 41 | €24,130 | - | -€24,130 | |
| Cash at bank and in hand | 54/58 | €87,708 | €5,364 | -€82,343 | -93.9% |
| Deferred charges and accrued income | 490/1 | €7,057 | €14,925 | +€7,868 | +111.5% |
| Total equity and liabilities | 10/49 | €676,946 | €684,102 | +€7,156 | +1.1% |
| Equity | 10/15 | €482,588 | €509,298 | +€26,710 | +5.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €463,935 | €490,635 | +€26,700 | +5.8% |
| Tax-exempt reserves | 132 | €4,375 | €4,375 | = | 0.0% |
| Distributable reserves | 133 | €459,560 | €486,260 | +€26,700 | +5.8% |
| Profit (loss) carried forward | 14 | €53 | €63 | +€10 | +18.8% |
| Amounts payable | 17/49 | €194,358 | €174,804 | -€19,554 | -10.1% |
| Amounts payable within one year | 42/48 | €178,789 | €167,550 | -€11,240 | -6.3% |
| Trade debts | 44 | €72,110 | €78,066 | +€5,955 | +8.3% |
| Suppliers | 440/4 | €72,110 | €78,066 | +€5,955 | +8.3% |
| Taxes, remuneration and social security | 45 | €7,575 | €21,889 | +€14,314 | +189.0% |
| Taxes | 450/3 | €7,575 | €21,889 | +€14,314 | +189.0% |
| Other amounts payable | 47/48 | €99,104 | €67,596 | -€31,508 | -31.8% |
| Accrued charges and deferred income | 492/3 | €15,568 | €7,254 | -€8,314 | -53.4% |
| Remuneration, social security and pensions | 62 | €3,643 | €2,403 | -€1,240 | -34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,295 | €7,658 | -€14,636 | -65.6% |
| Other operating charges | 640/8 | €22,919 | €8,867 | -€14,052 | -61.3% |
| Gross operating margin | 9900 | -€40,952 | €51,014 | +€91,966 | |
| Operating profit (loss) | 9901 | -€89,809 | €32,087 | +€121,896 | |
| Financial income | 75/76B | €365 | €721 | +€356 | +97.4% |
| Recurring financial income | 75 | €365 | €721 | +€356 | +97.4% |
| Financial charges | 65/66B | €9,342 | €5,378 | -€3,964 | -42.4% |
| Recurring financial charges | 65 | €9,342 | €5,378 | -€3,964 | -42.4% |
| Profit (loss) for the period before taxes | 9903 | -€98,786 | €27,430 | +€126,215 | |
| Income taxes | 67/77 | €870 | €720 | -€150 | -17.3% |
| Profit (loss) for the period | 9904 | -€99,656 | €26,710 | +€126,366 | |
| Profit (loss) for the period to be appropriated | 9905 | -€99,656 | €26,710 | +€126,366 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.