DIVI PROJECTS: 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.
DIVI PROJECTS
Largest movements
- Cash +€354,540
up €354,540 (+2,895%), from €12,248 to €366,789
mainly Net result for the year (+€314,878) and Provisions (+€76,708)
- Tangible fixed assets -€79,216
down €79,216 (-36.1%), from €219,434 to €140,219
of which Land and buildings: -€72,538
- Receivables within one year +€38,715
up €38,715 (+434%), from €8,929 to €47,644
of which Trade receivables: +€34,571
- Receivables after one year -€21,200
down €21,200 (-97.7%), from €21,700 to €500
- Reserves +€265,340
up €265,340 (+177%), from €149,588 to €414,928
of which Tax-exempt reserves: +€306,833
- Provisions +€76,708
new in 2025: €76,708
- Debts after one year -€53,907
down €53,907 (-44.1%), from €122,122 to €68,215
- Current portion of long-term debt -€25,540
down €25,540 (-61.8%), from €41,340 to €15,801
- Advances received +€24,500
new in 2025: €24,500
- Gross operating margin +€372,005
up €372,005 (+734%), from €50,650 to €422,655
- Depreciation -€11,558
down €11,558 (-55.2%), from €20,929 to €9,372
- Other operating charges +€8,819
up €8,819 (+327%), from €2,701 to €11,520
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 | €412,312 | €711,444 | +€299,132 | +72.6% |
| Fixed assets | 21/28 | €369,434 | €295,219 | -€74,216 | -20.1% |
| Tangible fixed assets | 22/27 | €219,434 | €140,219 | -€79,216 | -36.1% |
| Land and buildings | 22 | €179,244 | €106,706 | -€72,538 | -40.5% |
| Furniture and vehicles | 24 | €40,190 | €33,513 | -€6,677 | -16.6% |
| Financial fixed assets | 28 | €150,000 | €155,000 | +€5,000 | +3.3% |
| Current assets | 29/58 | €42,877 | €416,225 | +€373,348 | +871% |
| Amounts receivable after more than one year | 29 | €21,700 | €500 | -€21,200 | -97.7% |
| Other amounts receivable | 291 | €21,700 | €500 | -€21,200 | -97.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €8,929 | €47,644 | +€38,715 | +434% |
| Trade receivables | 40 | €3,159 | €37,730 | +€34,571 | +1,094% |
| Other amounts receivable | 41 | €5,770 | €9,914 | +€4,145 | +71.8% |
| Cash at bank and in hand | 54/58 | €12,248 | €366,789 | +€354,540 | +2,895% |
| Deferred charges and accrued income | 490/1 | €0 | €1,292 | +€1,292 | |
| Total equity and liabilities | 10/49 | €412,312 | €711,444 | +€299,132 | +72.6% |
| Equity | 10/15 | €236,741 | €502,081 | +€265,340 | +112% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €149,588 | €414,928 | +€265,340 | +177% |
| Tax-exempt reserves | 132 | - | €306,833 | +€306,833 | |
| Distributable reserves | 133 | €149,588 | €108,096 | -€41,492 | -27.7% |
| Profit (loss) carried forward | 14 | €74,753 | €74,753 | = | 0.0% |
| Provisions and deferred taxes | 16 | - | €76,708 | +€76,708 | |
| Deferred taxes | 168 | - | €76,708 | +€76,708 | |
| Amounts payable | 17/49 | €175,570 | €132,654 | -€42,916 | -24.4% |
| Amounts payable after more than one year | 17 | €122,122 | €68,215 | -€53,907 | -44.1% |
| Financial debts | 170/4 | €122,122 | €68,215 | -€53,907 | -44.1% |
| Amounts payable within one year | 42/48 | €53,448 | €64,439 | +€10,990 | +20.6% |
| Current portion of amounts payable after more than one year | 42 | €41,340 | €15,801 | -€25,540 | -61.8% |
| Trade debts | 44 | €1,213 | €987 | -€226 | -18.6% |
| Suppliers | 440/4 | €1,213 | €987 | -€226 | -18.6% |
| Advances received on contracts in progress | 46 | - | €24,500 | +€24,500 | |
| Taxes, remuneration and social security | 45 | €9,491 | €12,360 | +€2,870 | +30.2% |
| Taxes | 450/3 | €9,491 | €12,360 | +€2,870 | +30.2% |
| Other amounts payable | 47/48 | €1,405 | €10,791 | +€9,386 | +668% |
| Non-recurring operating income | 76A | €0 | €389,811 | +€389,811 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,929 | €9,372 | -€11,558 | -55.2% |
| Other operating charges | 640/8 | €2,701 | €11,520 | +€8,819 | +327% |
| Gross operating margin | 9900 | €50,650 | €422,655 | +€372,005 | +734% |
| Operating profit (loss) | 9901 | €27,020 | €401,764 | +€374,744 | +1,387% |
| Financial income | 75/76B | €892 | €1,265 | +€372 | +41.7% |
| Recurring financial income | 75 | €892 | €1,265 | +€372 | +41.7% |
| Financial charges | 65/66B | €8,674 | €6,470 | -€2,204 | -25.4% |
| Recurring financial charges | 65 | €8,674 | €6,470 | -€2,204 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €19,238 | €396,559 | +€377,320 | +1,961% |
| Transfer from deferred taxes | 780 | - | €111 | +€111 | |
| Transfer to deferred taxes | 680 | - | €76,819 | +€76,819 | |
| Income taxes | 67/77 | €6,836 | €4,973 | -€1,863 | -27.3% |
| Profit (loss) for the period | 9904 | €12,403 | €314,878 | +€302,475 | +2,439% |
| Transfer from tax-exempt reserves | 789 | - | €443 | +€443 | |
| Transfer to tax-exempt reserves | 689 | - | €307,276 | +€307,276 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,403 | €8,045 | -€4,358 | -35.1% |
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 18 October 2026 via checked.be.