DIVO: 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.
DIVO
Largest movements
- Current investments +€623,250
up €623,250 (+542.0%), from €115,000 to €738,250
- Tangible fixed assets -€257,240
no longer reported in 2025 (was €257,240)
of which Land and buildings: -€255,588
- Cash -€171,560
down €171,560 (-40.1%), from €428,164 to €256,603
mainly Current investments (-€623,250) and Debts after one year (-€175,298)
- Reserves +€431,549
up €431,549 (+78.4%), from €550,181 to €981,730
- Debts after one year -€175,298
no longer reported in 2025 (was €175,298)
- Tax, wage and social debts -€21,906
down €21,906 (-44.2%), from €49,510 to €27,604
- Current portion of long-term debt -€14,100
no longer reported in 2025 (was €14,100)
- Other debts -€13,984
down €13,984 (-74.4%), from €18,806 to €4,822
- Gross operating margin +€461,467
up €461,467 (+176.2%), from €261,958 to €723,425
- Taxes +€148,041
up €148,041 (+188.5%), from €78,524 to €226,565
- Depreciation -€10,587
down €10,587 (-86.5%), from €12,239 to €1,652
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 | €823,152 | €1,020,855 | +€197,703 | +24.0% |
| Fixed assets | 21/28 | €257,289 | €50 | -€257,240 | -100.0% |
| Tangible fixed assets | 22/27 | €257,240 | - | -€257,240 | |
| Land and buildings | 22 | €255,588 | - | -€255,588 | |
| Furniture and vehicles | 24 | €289 | - | -€289 | |
| Other tangible fixed assets | 26 | €1,363 | - | -€1,363 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €565,863 | €1,020,806 | +€454,943 | +80.4% |
| Amounts receivable within one year | 40/41 | €18,493 | €21,722 | +€3,229 | +17.5% |
| Trade receivables | 40 | €18,493 | €21,722 | +€3,229 | +17.5% |
| Current investments | 50/53 | €115,000 | €738,250 | +€623,250 | +542.0% |
| Cash at bank and in hand | 54/58 | €428,164 | €256,603 | -€171,560 | -40.1% |
| Deferred charges and accrued income | 490/1 | €4,206 | €4,231 | +€24 | +0.6% |
| Total equity and liabilities | 10/49 | €823,152 | €1,020,855 | +€197,703 | +24.0% |
| Equity | 10/15 | €552,041 | €983,590 | +€431,549 | +78.2% |
| Contributions | 10/11 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €550,181 | €981,730 | +€431,549 | +78.4% |
| Distributable reserves | 133 | €550,181 | €981,730 | +€431,549 | +78.4% |
| Amounts payable | 17/49 | €271,112 | €37,266 | -€233,846 | -86.3% |
| Amounts payable after more than one year | 17 | €175,298 | - | -€175,298 | |
| Financial debts | 170/4 | €175,298 | - | -€175,298 | |
| Amounts payable within one year | 42/48 | €94,368 | €36,429 | -€57,939 | -61.4% |
| Current portion of amounts payable after more than one year | 42 | €14,100 | - | -€14,100 | |
| Trade debts | 44 | €11,952 | €4,003 | -€7,949 | -66.5% |
| Suppliers | 440/4 | €11,952 | €4,003 | -€7,949 | -66.5% |
| Taxes, remuneration and social security | 45 | €49,510 | €27,604 | -€21,906 | -44.2% |
| Taxes | 450/3 | €49,510 | €27,604 | -€21,906 | -44.2% |
| Other amounts payable | 47/48 | €18,806 | €4,822 | -€13,984 | -74.4% |
| Accrued charges and deferred income | 492/3 | €1,446 | €836 | -€609 | -42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,239 | €1,652 | -€10,587 | -86.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,362 | -€308 | +€3,055 | +90.9% |
| Other operating charges | 640/8 | €1,308 | €3,528 | +€2,220 | +169.8% |
| Non-recurring operating charges | 66A | €500 | - | -€500 | |
| Gross operating margin | 9900 | €261,958 | €723,425 | +€461,467 | +176.2% |
| Operating profit (loss) | 9901 | €251,274 | €718,553 | +€467,279 | +186.0% |
| Financial income | 75/76B | €3,122 | €4,639 | +€1,517 | +48.6% |
| Recurring financial income | 75 | €3,122 | €4,639 | +€1,517 | +48.6% |
| Financial charges | 65/66B | €5,034 | €5,426 | +€392 | +7.8% |
| Recurring financial charges | 65 | €5,034 | €5,426 | +€392 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €249,362 | €717,766 | +€468,403 | +187.8% |
| Income taxes | 67/77 | €78,524 | €226,565 | +€148,041 | +188.5% |
| Profit (loss) for the period | 9904 | €170,838 | €491,201 | +€320,362 | +187.5% |
| Profit (loss) for the period to be appropriated | 9905 | €170,838 | €491,201 | +€320,362 | +187.5% |
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 3 October 2026 via checked.be.