BEPA DEPAUW: 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.
BEPA DEPAUW
Largest movements
- Receivables within one year +€96,209
up €96,209 (+290%), from €33,130 to €129,338
of which Other amounts receivable: +€94,394
- Cash +€45,206
up €45,206 (+393%), from €11,504 to €56,710
mainly Net result for the year (+€137,663) and Depreciation (+€38,113)
- Tangible fixed assets +€11,184
up €11,184 (+6.1%), from €183,970 to €195,154
of which Furniture and vehicles: +€17,043
- Reserves +€117,896
up €117,896 (+53.7%), from €219,449 to €337,346
of which Distributable reserves: +€118,719
- Tax, wage and social debts +€15,369
up €15,369 (+1,076%), from €1,428 to €16,797
of which Taxes: +€14,369
- Debts after one year +€10,781
up €10,781 (+19.9%), from €54,120 to €64,901
- Current portion of long-term debt +€6,842
up €6,842 (+53.5%), from €12,797 to €19,638
- Financial income +€126,500
up €126,500 (+6,957%), from €1,818 to €128,318
- Depreciation +€11,939
up €11,939 (+45.6%), from €26,174 to €38,113
- Gross operating margin +€10,311
up €10,311 (+16.2%), from €63,826 to €74,137
- Taxes +€9,894
up €9,894 (+96.1%), from €10,297 to €20,191
- Financial charges +€906
up €906 (+25.7%), from €3,520 to €4,426
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 | €506,303 | €658,949 | +€152,645 | +30.1% |
| Fixed assets | 21/28 | €458,970 | €470,154 | +€11,184 | +2.4% |
| Tangible fixed assets | 22/27 | €183,970 | €195,154 | +€11,184 | +6.1% |
| Land and buildings | 22 | €82,476 | €79,975 | -€2,501 | -3.0% |
| Plant, machinery and equipment | 23 | €16,454 | €14,111 | -€2,343 | -14.2% |
| Furniture and vehicles | 24 | €80,709 | €97,752 | +€17,043 | +21.1% |
| Other tangible fixed assets | 26 | €4,330 | €3,315 | -€1,015 | -23.4% |
| Financial fixed assets | 28 | €275,000 | €275,000 | = | 0.0% |
| Current assets | 29/58 | €47,334 | €188,795 | +€141,461 | +299% |
| Amounts receivable within one year | 40/41 | €33,130 | €129,338 | +€96,209 | +290% |
| Trade receivables | 40 | - | €1,815 | +€1,815 | |
| Other amounts receivable | 41 | €33,130 | €127,523 | +€94,394 | +285% |
| Cash at bank and in hand | 54/58 | €11,504 | €56,710 | +€45,206 | +393% |
| Deferred charges and accrued income | 490/1 | €2,699 | €2,746 | +€47 | +1.7% |
| Total equity and liabilities | 10/49 | €506,303 | €658,949 | +€152,645 | +30.1% |
| Equity | 10/15 | €410,475 | €528,371 | +€117,896 | +28.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €219,449 | €337,346 | +€117,896 | +53.7% |
| Tax-exempt reserves | 132 | €3,482 | €2,659 | -€823 | -23.6% |
| Distributable reserves | 133 | €215,967 | €334,686 | +€118,719 | +55.0% |
| Profit (loss) carried forward | 14 | €172,425 | €172,425 | = | 0.0% |
| Provisions and deferred taxes | 16 | €806 | €601 | -€206 | -25.5% |
| Deferred taxes | 168 | €806 | €601 | -€206 | -25.5% |
| Amounts payable | 17/49 | €95,022 | €129,977 | +€34,955 | +36.8% |
| Amounts payable after more than one year | 17 | €54,120 | €64,901 | +€10,781 | +19.9% |
| Financial debts | 170/4 | €54,120 | €64,901 | +€10,781 | +19.9% |
| Amounts payable within one year | 42/48 | €40,902 | €65,076 | +€24,174 | +59.1% |
| Current portion of amounts payable after more than one year | 42 | €12,797 | €19,638 | +€6,842 | +53.5% |
| Trade debts | 44 | €7,299 | €10,801 | +€3,502 | +48.0% |
| Suppliers | 440/4 | €7,299 | €10,801 | +€3,502 | +48.0% |
| Taxes, remuneration and social security | 45 | €1,428 | €16,797 | +€15,369 | +1,076% |
| Taxes | 450/3 | €1,428 | €15,797 | +€14,369 | +1,006% |
| Remuneration and social security | 454/9 | €0 | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | €19,378 | €17,839 | -€1,539 | -7.9% |
| Non-recurring operating income | 76A | €0 | €1,500 | +€1,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,174 | €38,113 | +€11,939 | +45.6% |
| Other operating charges | 640/8 | €2,316 | €2,268 | -€48 | -2.1% |
| Gross operating margin | 9900 | €63,826 | €74,137 | +€10,311 | +16.2% |
| Operating profit (loss) | 9901 | €35,336 | €33,756 | -€1,580 | -4.5% |
| Financial income | 75/76B | €1,818 | €128,318 | +€126,500 | +6,957% |
| Recurring financial income | 75 | €1,818 | €128,318 | +€126,500 | +6,957% |
| Financial charges | 65/66B | €3,520 | €4,426 | +€906 | +25.7% |
| Recurring financial charges | 65 | €3,520 | €4,426 | +€906 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | €33,634 | €157,648 | +€124,014 | +369% |
| Transfer from deferred taxes | 780 | €206 | €206 | = | 0.0% |
| Income taxes | 67/77 | €10,297 | €20,191 | +€9,894 | +96.1% |
| Profit (loss) for the period | 9904 | €23,542 | €137,663 | +€114,121 | +485% |
| Transfer from tax-exempt reserves | 789 | €823 | €823 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,365 | €138,485 | +€114,121 | +468% |
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 29 October 2026 via checked.be.