Divalco: 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.
Divalco
Largest movements
- Cash +€11,481
up €11,481 (+48.5%), from €23,664 to €35,145
mainly Net result for the year (+€11,504) and Receivables within one year (+€9,941)
- Receivables within one year -€9,941
down €9,941 (-44.9%), from €22,151 to €12,210
of which Trade receivables: -€10,705
- Tangible fixed assets -€1,527
down €1,527 (-2.0%), from €77,699 to €76,172
of which Plant, machinery and equipment: -€1,527
- Reserves +€11,250
up €11,250 (+26.6%), from €42,217 to €53,467
- Accrued charges and deferred income -€8,250
down €8,250 (-100.0%), from €8,250 to €0
- Other debts -€6,792
down €6,792 (-67.4%), from €10,072 to €3,281
- Tax, wage and social debts +€2,463
up €2,463 (+95.5%), from €2,579 to €5,042
- Gross operating margin +€15,152
up €15,152 (+96.2%), from €15,748 to €30,899
- Taxes +€3,734
up €3,734 (+423.7%), from €881 to €4,616
- Write-downs +€3,168
new in 2025: €3,168
- Depreciation -€1,856
down €1,856 (-54.9%), from €3,383 to €1,527
- Other operating charges +€409
up €409 (+4.2%), from €9,632 to €10,041
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 | €124,556 | €124,291 | -€266 | -0.2% |
| Fixed assets | 21/28 | €77,699 | €76,172 | -€1,527 | -2.0% |
| Tangible fixed assets | 22/27 | €77,699 | €76,172 | -€1,527 | -2.0% |
| Land and buildings | 22 | €74,368 | €74,368 | = | 0.0% |
| Plant, machinery and equipment | 23 | €3,331 | €1,804 | -€1,527 | -45.8% |
| Current assets | 29/58 | €46,857 | €48,118 | +€1,261 | +2.7% |
| Amounts receivable within one year | 40/41 | €22,151 | €12,210 | -€9,941 | -44.9% |
| Trade receivables | 40 | €22,151 | €11,446 | -€10,705 | -48.3% |
| Other amounts receivable | 41 | - | €764 | +€764 | |
| Cash at bank and in hand | 54/58 | €23,664 | €35,145 | +€11,481 | +48.5% |
| Deferred charges and accrued income | 490/1 | €1,042 | €764 | -€278 | -26.7% |
| Total equity and liabilities | 10/49 | €124,556 | €124,291 | -€266 | -0.2% |
| Equity | 10/15 | €102,374 | €113,877 | +€11,504 | +11.2% |
| Contributions | 10/11 | €43,930 | €43,930 | = | 0.0% |
| Reserves | 13 | €42,217 | €53,467 | +€11,250 | +26.6% |
| Distributable reserves | 133 | €42,217 | €53,467 | +€11,250 | +26.6% |
| Profit (loss) carried forward | 14 | €16,227 | €16,480 | +€254 | +1.6% |
| Amounts payable | 17/49 | €22,183 | €10,413 | -€11,769 | -53.1% |
| Amounts payable after more than one year | 17 | €150 | €150 | = | 0.0% |
| Other amounts payable | 178/9 | €150 | €150 | = | 0.0% |
| Amounts payable within one year | 42/48 | €13,782 | €10,263 | -€3,519 | -25.5% |
| Trade debts | 44 | €1,131 | €1,940 | +€810 | +71.6% |
| Suppliers | 440/4 | €1,131 | €1,940 | +€810 | +71.6% |
| Taxes, remuneration and social security | 45 | €2,579 | €5,042 | +€2,463 | +95.5% |
| Taxes | 450/3 | €2,579 | €5,042 | +€2,463 | +95.5% |
| Other amounts payable | 47/48 | €10,072 | €3,281 | -€6,792 | -67.4% |
| Accrued charges and deferred income | 492/3 | €8,250 | €0 | -€8,250 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,383 | €1,527 | -€1,856 | -54.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,168 | +€3,168 | |
| Other operating charges | 640/8 | €9,632 | €10,041 | +€409 | +4.2% |
| Gross operating margin | 9900 | €15,748 | €30,899 | +€15,152 | +96.2% |
| Operating profit (loss) | 9901 | €2,733 | €16,164 | +€13,431 | +491.5% |
| Financial income | 75/76B | €0 | €1 | +€1 | +5900.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +5900.0% |
| Financial charges | 65/66B | €432 | €45 | -€387 | -89.5% |
| Recurring financial charges | 65 | €432 | €45 | -€387 | -89.5% |
| Profit (loss) for the period before taxes | 9903 | €2,301 | €16,119 | +€13,819 | +600.6% |
| Income taxes | 67/77 | €881 | €4,616 | +€3,734 | +423.7% |
| Profit (loss) for the period | 9904 | €1,419 | €11,504 | +€10,084 | +710.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,419 | €11,504 | +€10,084 | +710.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.