Divo Projects: 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 Projects
Largest movements
- Receivables within one year +€28,206
up €28,206 (+530.1%), from €5,321 to €33,527
of which Other amounts receivable: +€25,810
- Tangible fixed assets -€6,463
down €6,463 (-7.5%), from €86,542 to €80,079
of which Other tangible fixed assets: -€7,361
- Other debts +€38,451
up €38,451 (+2395.1%), from €1,605 to €40,057
- Reserves -€12,942
down €12,942 (-27.6%), from €46,939 to €33,997
- Debts after one year -€5,548
down €5,548 (-21.3%), from €25,992 to €20,443
- Tax, wage and social debts +€2,869
up €2,869 (+35.8%), from €8,008 to €10,876
- Accrued charges and deferred income -€2,740
no longer reported in 2025 (was €2,740)
- Gross operating margin +€35,243
up €35,243 (+126.5%), from €27,853 to €63,095
- Other operating charges +€5,992
up €5,992 (+836.3%), from €717 to €6,708
- Taxes +€2,780
up €2,780 (+74.4%), from €3,737 to €6,516
- Financial charges +€2,459
up €2,459 (+25.8%), from €9,514 to €11,973
- Depreciation -€1,916
down €1,916 (-27.7%), from €6,908 to €4,992
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 | €95,441 | €117,448 | +€22,007 | +23.1% |
| Fixed assets | 21/28 | €86,542 | €80,079 | -€6,463 | -7.5% |
| Tangible fixed assets | 22/27 | €86,542 | €80,079 | -€6,463 | -7.5% |
| Land and buildings | 22 | €67,004 | €65,674 | -€1,330 | -2.0% |
| Plant, machinery and equipment | 23 | €391 | - | -€391 | |
| Furniture and vehicles | 24 | €11,786 | €14,405 | +€2,619 | +22.2% |
| Other tangible fixed assets | 26 | €7,361 | - | -€7,361 | |
| Current assets | 29/58 | €8,899 | €37,369 | +€28,470 | +319.9% |
| Amounts receivable within one year | 40/41 | €5,321 | €33,527 | +€28,206 | +530.1% |
| Trade receivables | 40 | €5,321 | €7,716 | +€2,395 | +45.0% |
| Other amounts receivable | 41 | - | €25,810 | +€25,810 | |
| Cash at bank and in hand | 54/58 | €2,101 | €2,026 | -€75 | -3.6% |
| Deferred charges and accrued income | 490/1 | €1,477 | €1,817 | +€340 | +23.0% |
| Total equity and liabilities | 10/49 | €95,441 | €117,448 | +€22,007 | +23.1% |
| Equity | 10/15 | €47,539 | €34,597 | -€12,942 | -27.2% |
| Contributions | 10/11 | €600 | €600 | = | 0.0% |
| Reserves | 13 | €46,939 | €33,997 | -€12,942 | -27.6% |
| Distributable reserves | 133 | €46,939 | €33,997 | -€12,942 | -27.6% |
| Amounts payable | 17/49 | €47,902 | €82,852 | +€34,949 | +73.0% |
| Amounts payable after more than one year | 17 | €25,992 | €20,443 | -€5,548 | -21.3% |
| Financial debts | 170/4 | €25,992 | €20,443 | -€5,548 | -21.3% |
| Amounts payable within one year | 42/48 | €19,170 | €62,408 | +€43,238 | +225.5% |
| Current portion of amounts payable after more than one year | 42 | €4,008 | €5,548 | +€1,540 | +38.4% |
| Trade debts | 44 | €5,549 | €5,927 | +€378 | +6.8% |
| Suppliers | 440/4 | €5,549 | €5,927 | +€378 | +6.8% |
| Taxes, remuneration and social security | 45 | €8,008 | €10,876 | +€2,869 | +35.8% |
| Taxes | 450/3 | €8,008 | €10,876 | +€2,869 | +35.8% |
| Other amounts payable | 47/48 | €1,605 | €40,057 | +€38,451 | +2395.1% |
| Accrued charges and deferred income | 492/3 | €2,740 | - | -€2,740 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,908 | €4,992 | -€1,916 | -27.7% |
| Other operating charges | 640/8 | €717 | €6,708 | +€5,992 | +836.3% |
| Non-recurring operating charges | 66A | - | €6,471 | +€6,471 | |
| Gross operating margin | 9900 | €27,853 | €63,095 | +€35,243 | +126.5% |
| Operating profit (loss) | 9901 | €20,228 | €44,924 | +€24,696 | +122.1% |
| Financial income | 75/76B | €103 | €680 | +€578 | +563.6% |
| Recurring financial income | 75 | €103 | €680 | +€578 | +563.6% |
| Financial charges | 65/66B | €9,514 | €11,973 | +€2,459 | +25.8% |
| Recurring financial charges | 65 | €9,514 | €11,973 | +€2,459 | +25.8% |
| Profit (loss) for the period before taxes | 9903 | €10,816 | €33,631 | +€22,815 | +210.9% |
| Income taxes | 67/77 | €3,737 | €6,516 | +€2,780 | +74.4% |
| Profit (loss) for the period | 9904 | €7,079 | €27,115 | +€20,035 | +283.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,079 | €27,115 | +€20,035 | +283.0% |
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 5 October 2026 via checked.be.