DIVINE ESTATES: what changed
What changed
DIVINE ESTATES
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€4,670
2024 · -€7,752+€12,423
Equity
€122,275
2024 · €117,605+€4,670
Cash
€5,371
2024 · €6,952-€1,581
Balance sheet total
€950,820
2024 · €969,563-€18,743
Largest movements
Assets
- Tangible fixed assets -€25,461
down €25,461 (-2.6%), from €960,911 to €935,451
Equity and liabilities
- Debts after one year -€46,637
down €46,637 (-7.3%), from €637,362 to €590,725
- Other debts +€20,720
up €20,720 (+12.7%), from €163,069 to €183,789
Income statement
- Gross operating margin +€15,037
up €15,037 (+29.7%), from €50,581 to €65,618
- Other operating charges +€2,612
up €2,612 (+260%), from €1,004 to €3,615
- Financial charges -€1,155
down €1,155 (-7.4%), from €15,504 to €14,349
- Depreciation +€1,138
up €1,138 (+2.7%), from €41,846 to €42,984
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
-€7,752
Gross operating margin
+€15,037
Depreciation
-€1,138
Other operating charges
-€2,612
Financial income
-€20
Financial charges
+€1,155
Result 2025
€4,670
raises the resultlowers the result
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
+€61,592
Investment
-€17,524
Financing
-€45,650
Cash 2024
€6,952
From operations (derived)
+€61,592
Net result for the year
+€4,670
Depreciation
+€42,984
Receivables within one year
-€45
Deferred charges and accrued income
-€8,254
Trade debts
-€2,034
Other debts
+€20,720
Accrued charges and deferred income
+€3,550
Investment (derived)
-€17,524
Investment in fixed assets (net)
-€17,524
Financing
-€45,650
Debts after one year
-€46,637
Current portion of long-term debt
+€987
Cash 2025
€5,371
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €969,563 | €950,820 | -€18,743 | -1.9% |
| Fixed assets | 21/28 | €961,511 | €936,051 | -€25,461 | -2.6% |
| Tangible fixed assets | 22/27 | €960,911 | €935,451 | -€25,461 | -2.6% |
| Land and buildings | 22 | €960,911 | €935,451 | -€25,461 | -2.6% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €8,052 | €14,770 | +€6,717 | +83.4% |
| Amounts receivable within one year | 40/41 | - | €45 | +€45 | |
| Trade receivables | 40 | - | €45 | +€45 | |
| Cash at bank and in hand | 54/58 | €6,952 | €5,371 | -€1,581 | -22.7% |
| Deferred charges and accrued income | 490/1 | €1,100 | €9,354 | +€8,254 | +750% |
| Total equity and liabilities | 10/49 | €969,563 | €950,820 | -€18,743 | -1.9% |
| Equity | 10/15 | €117,605 | €122,275 | +€4,670 | +4.0% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,395 | -€77,725 | +€4,670 | +5.7% |
| Amounts payable | 17/49 | €851,959 | €828,545 | -€23,413 | -2.7% |
| Amounts payable after more than one year | 17 | €637,362 | €590,725 | -€46,637 | -7.3% |
| Financial debts | 170/4 | €637,362 | €590,725 | -€46,637 | -7.3% |
| Amounts payable within one year | 42/48 | €213,347 | €233,020 | +€19,673 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €45,650 | €46,637 | +€987 | +2.2% |
| Trade debts | 44 | €4,628 | €2,594 | -€2,034 | -43.9% |
| Suppliers | 440/4 | €4,628 | €2,594 | -€2,034 | -43.9% |
| Other amounts payable | 47/48 | €163,069 | €183,789 | +€20,720 | +12.7% |
| Accrued charges and deferred income | 492/3 | €1,250 | €4,800 | +€3,550 | +284% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,846 | €42,984 | +€1,138 | +2.7% |
| Other operating charges | 640/8 | €1,004 | €3,615 | +€2,612 | +260% |
| Gross operating margin | 9900 | €50,581 | €65,618 | +€15,037 | +29.7% |
| Operating profit (loss) | 9901 | €7,731 | €19,019 | +€11,288 | +146% |
| Financial income | 75/76B | €20 | €0 | -€20 | -100% |
| Recurring financial income | 75 | €20 | €0 | -€20 | -100% |
| Financial charges | 65/66B | €15,504 | €14,349 | -€1,155 | -7.4% |
| Recurring financial charges | 65 | €15,504 | €14,349 | -€1,155 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,752 | €4,670 | +€12,423 | |
| Profit (loss) for the period | 9904 | -€7,752 | €4,670 | +€12,423 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,752 | €4,670 | +€12,423 |
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 4 November 2026 via checked.be.