DIVAGO: what changed
What changed
DIVAGO
NACE 42.219, Civil engineering
filed annual accounts (NBB)
Net result for the year
-€36,289
2024 · -€6,003-€30,285
Equity
€96,261
2024 · €132,550-€36,289
Cash
€4,721
2024 · €9,290-€4,569
Balance sheet total
€498,888
2024 · €635,484-€136,596
Largest movements
Assets
- Tangible fixed assets -€243,101
down €243,101 (-48.8%), from €497,812 to €254,711
of which Land and buildings: -€138,842
- Receivables within one year +€130,179
up €130,179 (+262%), from €49,712 to €179,891
of which Other amounts receivable: +€124,015
- Deferred charges and accrued income -€9,813
down €9,813 (-46.3%), from €21,187 to €11,373
- Stocks and contracts -€8,813
down €8,813 (-15.9%), from €55,370 to €46,557
of which Stocks: -€20,813
Equity and liabilities
- Debts after one year -€127,980
down €127,980 (-51.9%), from €246,384 to €118,404
- Trade debts +€58,041
up €58,041 (+154%), from €37,630 to €95,670
- Current portion of long-term debt -€50,043
down €50,043 (-35.9%), from €139,461 to €89,418
- Profit (loss) carried forward -€36,289
down €36,289 (-604%), from -€6,003 to -€42,292
- Tax, wage and social debts +€24,822
up €24,822 (+1,003%), from €2,474 to €27,296
of which Taxes: +€17,472
Income statement
- Staff costs +€35,258
up €35,258 (+27.5%), from €128,026 to €163,284
- Gross operating margin +€9,658
up €9,658 (+3.5%), from €272,145 to €281,803
- Financial charges +€4,776
up €4,776 (+39.0%), from €12,231 to €17,007
- Depreciation +€4,749
up €4,749 (+3.7%), from €127,011 to €131,760
- Other operating charges +€3,817
up €3,817 (+172%), from €2,225 to €6,042
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€6,003
Gross operating margin
+€9,658
Staff costs
-€35,258
Depreciation
-€4,749
Other operating charges
-€3,817
Other operating items
+€8,655
Financial income
+€1
Financial charges
-€4,776
Result 2025
-€36,289
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€48,134
Investment
+€111,820
Financing
-€164,523
Cash 2024
€9,290
From operations (derived)
+€48,134
Net result for the year
-€36,289
Depreciation
+€131,760
Stocks and contracts
+€8,813
Receivables within one year
-€130,179
Deferred charges and accrued income
+€9,813
Trade debts
+€58,041
Tax, wage and social debts
+€24,822
Other debts
-€24,152
Accrued charges and deferred income
+€5,505
Investment (derived)
+€111,820
Investment in fixed assets (net)
+€111,820
Financing
-€164,523
Debts after one year
-€127,980
Current portion of long-term debt
-€50,043
Short-term financial debts
+€13,500
Cash 2025
€4,721
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €635,484 | €498,888 | -€136,596 | -21.5% |
| Fixed assets | 21/28 | €499,925 | €256,346 | -€243,580 | -48.7% |
| Intangible fixed assets | 21 | €478 | €0 | -€478 | -100% |
| Tangible fixed assets | 22/27 | €497,812 | €254,711 | -€243,101 | -48.8% |
| Land and buildings | 22 | €138,842 | €0 | -€138,842 | -100% |
| Plant, machinery and equipment | 23 | €40,464 | €25,244 | -€15,220 | -37.6% |
| Furniture and vehicles | 24 | €131,885 | €113,541 | -€18,343 | -13.9% |
| Leasing and similar rights | 25 | €186,622 | €114,397 | -€72,224 | -38.7% |
| Other tangible fixed assets | 26 | - | €1,528 | +€1,528 | |
| Financial fixed assets | 28 | €1,635 | €1,635 | = | 0.0% |
| Current assets | 29/58 | €135,559 | €242,543 | +€106,984 | +78.9% |
| Stocks and contracts in progress | 3 | €55,370 | €46,557 | -€8,813 | -15.9% |
| Stocks | 30/36 | €52,370 | €31,557 | -€20,813 | -39.7% |
| Contracts in progress | 37 | €3,000 | €15,000 | +€12,000 | +400% |
| Amounts receivable within one year | 40/41 | €49,712 | €179,891 | +€130,179 | +262% |
| Trade receivables | 40 | €26,232 | €32,396 | +€6,164 | +23.5% |
| Other amounts receivable | 41 | €23,480 | €147,495 | +€124,015 | +528% |
| Cash at bank and in hand | 54/58 | €9,290 | €4,721 | -€4,569 | -49.2% |
| Deferred charges and accrued income | 490/1 | €21,187 | €11,373 | -€9,813 | -46.3% |
| Total equity and liabilities | 10/49 | €635,484 | €498,888 | -€136,596 | -21.5% |
| Equity | 10/15 | €132,550 | €96,261 | -€36,289 | -27.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €119,953 | €119,953 | = | 0.0% |
| Distributable reserves | 133 | €119,953 | €119,953 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,003 | -€42,292 | -€36,289 | -604% |
| Amounts payable | 17/49 | €502,934 | €402,627 | -€100,307 | -19.9% |
| Amounts payable after more than one year | 17 | €246,384 | €118,404 | -€127,980 | -51.9% |
| Financial debts | 170/4 | €246,384 | €118,404 | -€127,980 | -51.9% |
| Amounts payable within one year | 42/48 | €256,550 | €278,718 | +€22,168 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €139,461 | €89,418 | -€50,043 | -35.9% |
| Financial debts | 43 | €36,500 | €50,000 | +€13,500 | +37.0% |
| Credit institutions | 430/8 | €36,500 | €50,000 | +€13,500 | +37.0% |
| Trade debts | 44 | €37,630 | €95,670 | +€58,041 | +154% |
| Suppliers | 440/4 | €37,630 | €95,670 | +€58,041 | +154% |
| Taxes, remuneration and social security | 45 | €2,474 | €27,296 | +€24,822 | +1,003% |
| Taxes | 450/3 | €284 | €17,756 | +€17,472 | +6,152% |
| Remuneration and social security | 454/9 | €2,190 | €9,540 | +€7,350 | +336% |
| Other amounts payable | 47/48 | €40,485 | €16,333 | -€24,152 | -59.7% |
| Accrued charges and deferred income | 492/3 | €0 | €5,505 | +€5,505 | |
| Non-recurring operating income | 76A | €0 | €217,643 | +€217,643 | |
| Remuneration, social security and pensions | 62 | €128,026 | €163,284 | +€35,258 | +27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,011 | €131,760 | +€4,749 | +3.7% |
| Other operating charges | 640/8 | €2,225 | €6,042 | +€3,817 | +172% |
| Non-recurring operating charges | 66A | €8,655 | €0 | -€8,655 | -100% |
| Gross operating margin | 9900 | €272,145 | €281,803 | +€9,658 | +3.5% |
| Operating profit (loss) | 9901 | €6,228 | -€19,283 | -€25,511 | |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €12,231 | €17,007 | +€4,776 | +39.0% |
| Recurring financial charges | 65 | €12,231 | €17,007 | +€4,776 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,003 | -€36,289 | -€30,285 | -504% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€6,003 | -€36,289 | -€30,285 | -504% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,003 | -€36,289 | -€30,285 | -504% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.