MV DIVINA: 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.
MV DIVINA
Largest movements
- Cash -€119,145
down €119,145 (-43.9%), from €271,489 to €152,344
mainly Trade debts (-€160,887) and Tax, wage and social debts (-€80,976)
- Receivables within one year -€111,552
down €111,552 (-57.3%), from €194,644 to €83,091
of which Trade receivables: -€178,088
- Tangible fixed assets +€15,293
up €15,293 (+18.8%), from €81,183 to €96,476
of which Plant, machinery and equipment: +€17,436
- Trade debts -€160,887
down €160,887 (-83.1%), from €193,713 to €32,826
- Tax, wage and social debts -€80,976
down €80,976 (-54.2%), from €149,367 to €68,391
of which Taxes: -€48,804
- Short-term financial debts +€55,000
new in 2025: €55,000
- Debts after one year -€16,765
down €16,765 (-64.8%), from €25,892 to €9,127
- Current portion of long-term debt -€14,831
down €14,831 (-52.3%), from €28,357 to €13,525
- Staff costs +€133,870
up €133,870 (+29.6%), from €452,917 to €586,787
- Gross operating margin +€103,845
up €103,845 (+18.8%), from €553,475 to €657,320
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 | €548,225 | €337,728 | -€210,498 | -38.4% |
| Fixed assets | 21/28 | €81,273 | €96,566 | +€15,293 | +18.8% |
| Tangible fixed assets | 22/27 | €81,183 | €96,476 | +€15,293 | +18.8% |
| Plant, machinery and equipment | 23 | €13,383 | €30,819 | +€17,436 | +130% |
| Furniture and vehicles | 24 | €25,190 | €35,440 | +€10,250 | +40.7% |
| Leasing and similar rights | 25 | €36,581 | €25,058 | -€11,524 | -31.5% |
| Other tangible fixed assets | 26 | €6,029 | €5,160 | -€869 | -14.4% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €466,952 | €241,161 | -€225,791 | -48.4% |
| Stocks and contracts in progress | 3 | €819 | €1,000 | +€181 | +22.1% |
| Stocks | 30/36 | €819 | €1,000 | +€181 | +22.1% |
| Amounts receivable within one year | 40/41 | €194,644 | €83,091 | -€111,552 | -57.3% |
| Trade receivables | 40 | €179,624 | €1,536 | -€178,088 | -99.1% |
| Other amounts receivable | 41 | €15,020 | €81,555 | +€66,535 | +443% |
| Cash at bank and in hand | 54/58 | €271,489 | €152,344 | -€119,145 | -43.9% |
| Deferred charges and accrued income | 490/1 | - | €4,726 | +€4,726 | |
| Total equity and liabilities | 10/49 | €548,225 | €337,728 | -€210,498 | -38.4% |
| Equity | 10/15 | €150,896 | €158,858 | +€7,962 | +5.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €132,296 | €132,296 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €130,436 | €130,436 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €7,962 | +€7,962 | |
| Amounts payable | 17/49 | €397,330 | €178,870 | -€218,460 | -55.0% |
| Amounts payable after more than one year | 17 | €25,892 | €9,127 | -€16,765 | -64.8% |
| Financial debts | 170/4 | €25,892 | €9,127 | -€16,765 | -64.8% |
| Amounts payable within one year | 42/48 | €371,437 | €169,743 | -€201,695 | -54.3% |
| Current portion of amounts payable after more than one year | 42 | €28,357 | €13,525 | -€14,831 | -52.3% |
| Financial debts | 43 | - | €55,000 | +€55,000 | |
| Credit institutions | 430/8 | - | €55,000 | +€55,000 | |
| Trade debts | 44 | €193,713 | €32,826 | -€160,887 | -83.1% |
| Suppliers | 440/4 | €193,713 | €32,826 | -€160,887 | -83.1% |
| Taxes, remuneration and social security | 45 | €149,367 | €68,391 | -€80,976 | -54.2% |
| Taxes | 450/3 | €81,450 | €32,646 | -€48,804 | -59.9% |
| Remuneration and social security | 454/9 | €67,918 | €35,746 | -€32,172 | -47.4% |
| Remuneration, social security and pensions | 62 | €452,917 | €586,787 | +€133,870 | +29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,367 | €34,343 | -€4,024 | -10.5% |
| Other operating charges | 640/8 | €4,149 | €4,369 | +€220 | +5.3% |
| Gross operating margin | 9900 | €553,475 | €657,320 | +€103,845 | +18.8% |
| Operating profit (loss) | 9901 | €58,043 | €31,821 | -€26,222 | -45.2% |
| Financial income | 75/76B | €1,307 | €6,951 | +€5,643 | +432% |
| Recurring financial income | 75 | €1,307 | €6,951 | +€5,643 | +432% |
| Financial charges | 65/66B | €25,267 | €20,832 | -€4,435 | -17.6% |
| Recurring financial charges | 65 | €25,267 | €20,832 | -€4,435 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €34,083 | €17,940 | -€16,143 | -47.4% |
| Income taxes | 67/77 | €16,470 | €9,977 | -€6,493 | -39.4% |
| Profit (loss) for the period | 9904 | €17,613 | €7,962 | -€9,650 | -54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €17,613 | €7,962 | -€9,650 | -54.8% |
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 23 October 2026 via checked.be.