THE DIVIN: 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.
THE DIVIN
Largest movements
- Cash +€91,694
up €91,694 (+691%), from €13,278 to €104,972
mainly Trade debts (+€90,181) and Net result for the year (+€28,498)
- Receivables within one year +€48,377
up €48,377 (+243%), from €19,910 to €68,286
of which Trade receivables: +€46,789
- Stocks and contracts -€5,224
down €5,224 (-10.5%), from €49,973 to €44,749
- Intangible fixed assets -€3,525
down €3,525 (-30.5%), from €11,548 to €8,024
- Trade debts +€90,181
up €90,181 (+218%), from €41,349 to €131,529
- Profit (loss) carried forward +€28,498
up €28,498 (+65.9%), from -€43,241 to -€14,743
- Tax, wage and social debts +€14,361
up €14,361 (+46.7%), from €30,741 to €45,102
of which Remuneration and social security: +€23,207
- Advances received -€3,173
down €3,173 (-100%), from €3,173 to €0
- Gross operating margin +€53,326
up €53,326 (+29.5%), from €181,051 to €234,377
- Staff costs +€44,155
up €44,155 (+31.1%), from €142,143 to €186,298
- Financial charges +€3,432
up €3,432 (+45.2%), from €7,590 to €11,022
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 | €101,243 | €231,765 | +€130,522 | +129% |
| Fixed assets | 21/28 | €13,686 | €9,275 | -€4,411 | -32.2% |
| Intangible fixed assets | 21 | €11,548 | €8,024 | -€3,525 | -30.5% |
| Tangible fixed assets | 22/27 | €1,430 | €544 | -€886 | -62.0% |
| Land and buildings | 22 | €0 | €0 | = | 0.0% |
| Plant, machinery and equipment | 23 | €878 | €278 | -€599 | -68.3% |
| Furniture and vehicles | 24 | €552 | €266 | -€287 | -51.9% |
| Financial fixed assets | 28 | €708 | €708 | = | 0.0% |
| Current assets | 29/58 | €87,557 | €222,490 | +€134,933 | +154% |
| Stocks and contracts in progress | 3 | €49,973 | €44,749 | -€5,224 | -10.5% |
| Stocks | 30/36 | €49,973 | €44,749 | -€5,224 | -10.5% |
| Amounts receivable within one year | 40/41 | €19,910 | €68,286 | +€48,377 | +243% |
| Trade receivables | 40 | €19,910 | €66,699 | +€46,789 | +235% |
| Other amounts receivable | 41 | - | €1,588 | +€1,588 | |
| Cash at bank and in hand | 54/58 | €13,278 | €104,972 | +€91,694 | +691% |
| Deferred charges and accrued income | 490/1 | €4,397 | €4,483 | +€87 | +2.0% |
| Total equity and liabilities | 10/49 | €101,243 | €231,765 | +€130,522 | +129% |
| Equity | 10/15 | €3,832 | €32,330 | +€28,498 | +744% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €28,473 | €28,473 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €26,613 | €26,613 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,241 | -€14,743 | +€28,498 | +65.9% |
| Amounts payable | 17/49 | €97,411 | €199,435 | +€102,024 | +105% |
| Amounts payable within one year | 42/48 | €97,411 | €199,435 | +€102,024 | +105% |
| Current portion of amounts payable after more than one year | 42 | €19,500 | €21,212 | +€1,712 | +8.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €41,349 | €131,529 | +€90,181 | +218% |
| Suppliers | 440/4 | €41,349 | €131,529 | +€90,181 | +218% |
| Advances received on contracts in progress | 46 | €3,173 | €0 | -€3,173 | -100% |
| Taxes, remuneration and social security | 45 | €30,741 | €45,102 | +€14,361 | +46.7% |
| Taxes | 450/3 | €14,117 | €5,271 | -€8,846 | -62.7% |
| Remuneration and social security | 454/9 | €16,625 | €39,831 | +€23,207 | +140% |
| Other amounts payable | 47/48 | €2,649 | €1,591 | -€1,058 | -39.9% |
| Remuneration, social security and pensions | 62 | €142,143 | €186,298 | +€44,155 | +31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,854 | €4,411 | -€1,443 | -24.6% |
| Other operating charges | 640/8 | €2,838 | €4,294 | +€1,456 | +51.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €181,051 | €234,377 | +€53,326 | +29.5% |
| Operating profit (loss) | 9901 | €30,217 | €39,375 | +€9,158 | +30.3% |
| Financial income | 75/76B | €20 | €319 | +€300 | +1,527% |
| Recurring financial income | 75 | €20 | €319 | +€300 | +1,527% |
| Financial charges | 65/66B | €7,590 | €11,022 | +€3,432 | +45.2% |
| Recurring financial charges | 65 | €7,590 | €11,022 | +€3,432 | +45.2% |
| Profit (loss) for the period before taxes | 9903 | €22,647 | €28,673 | +€6,025 | +26.6% |
| Income taxes | 67/77 | €1,430 | €175 | -€1,255 | -87.8% |
| Profit (loss) for the period | 9904 | €21,217 | €28,498 | +€7,281 | +34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,217 | €28,498 | +€7,281 | +34.3% |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.