Deparco: 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.
Deparco
Largest movements
- Financial fixed assets +€8.5m
up €8.5m (+51.8%), from €16.4m to €24.8m
- Receivables after one year +€2.1m
up €2.1m (+105.7%), from €2.0m to €4.1m
- Receivables within one year -€1.5m
down €1.5m (-32.6%), from €4.6m to €3.1m
of which Other amounts receivable: -€1.5m
- Current investments -€1.2m
down €1.2m (-100.0%), from €1.2m to €0
- Cash -€434,196
down €434,196 (-87.9%), from €494,053 to €59,857
mainly Investment in fixed assets (net) (-€8.7m) and Other debts (-€3.1m)
- Revaluation surpluses +€7.4m
new in 2025: €7.4m
- Short-term financial debts +€3.8m
new in 2025: €3.8m
- Other debts -€3.1m
down €3.1m (-22.6%), from €13.8m to €10.7m
- Financial charges -€1.5m
down €1.5m (-63.1%), from €2.3m to €852,690
of which Non-recurring financial charges: -€1.5m
- Staff costs +€126,264
up €126,264 (+32.9%), from €384,247 to €510,511
- Other operating charges -€87,880
down €87,880 (-39.1%), from €224,950 to €137,071
- Gross operating margin -€81,841
down €81,841 (-41.5%), from €197,231 to €115,390
- Financial income +€69,419
up €69,419 (+6.6%), from €1.0m to €1.1m
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 | €26,477,508 | €34,364,641 | +€7.9m | +29.8% |
| Fixed assets | 21/28 | €17,373,345 | €26,072,650 | +€8.7m | +50.1% |
| Tangible fixed assets | 22/27 | €1,021,584 | €1,258,110 | +€236,527 | +23.2% |
| Land and buildings | 22 | €987,174 | €1,220,521 | +€233,346 | +23.6% |
| Plant, machinery and equipment | 23 | €15,389 | €18,880 | +€3,492 | +22.7% |
| Furniture and vehicles | 24 | €19,021 | €18,709 | -€312 | -1.6% |
| Financial fixed assets | 28 | €16,351,762 | €24,814,539 | +€8.5m | +51.8% |
| Current assets | 29/58 | €9,104,162 | €8,291,991 | -€812,171 | -8.9% |
| Amounts receivable after more than one year | 29 | €2,000,000 | €4,114,000 | +€2.1m | +105.7% |
| Other amounts receivable | 291 | €2,000,000 | €4,114,000 | +€2.1m | +105.7% |
| Amounts receivable within one year | 40/41 | €4,597,017 | €3,100,639 | -€1.5m | -32.6% |
| Trade receivables | 40 | €349,729 | €377,899 | +€28,170 | +8.1% |
| Other amounts receivable | 41 | €4,247,288 | €2,722,739 | -€1.5m | -35.9% |
| Current investments | 50/53 | €1,150,000 | €0 | -€1.2m | -100.0% |
| Cash at bank and in hand | 54/58 | €494,053 | €59,857 | -€434,196 | -87.9% |
| Deferred charges and accrued income | 490/1 | €863,093 | €1,017,496 | +€154,403 | +17.9% |
| Total equity and liabilities | 10/49 | €26,477,508 | €34,364,641 | +€7.9m | +29.8% |
| Equity | 10/15 | €11,782,021 | €18,892,538 | +€7.1m | +60.4% |
| Contributions | 10/11 | €250,125 | €250,125 | = | 0.0% |
| Capital | 10 | €250,125 | €250,125 | = | 0.0% |
| Issued capital | 100 | €250,125 | €250,125 | = | 0.0% |
| Revaluation surpluses | 12 | - | €7,424,591 | +€7.4m | |
| Reserves | 13 | €11,531,896 | €11,217,822 | -€314,074 | -2.7% |
| Non-distributable reserves | 130/1 | €25,012 | €25,012 | = | 0.0% |
| Legal reserve | 130 | €25,012 | €25,012 | = | 0.0% |
| Distributable reserves | 133 | €11,506,883 | €11,192,809 | -€314,074 | -2.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €14,695,487 | €15,472,103 | +€776,616 | +5.3% |
| Amounts payable within one year | 42/48 | €14,190,488 | €14,941,313 | +€750,825 | +5.3% |
| Financial debts | 43 | - | €3,802,025 | +€3.8m | |
| Credit institutions | 430/8 | - | €3,802,025 | +€3.8m | |
| Trade debts | 44 | €165,488 | €185,403 | +€19,914 | +12.0% |
| Suppliers | 440/4 | €165,488 | €185,403 | +€19,914 | +12.0% |
| Taxes, remuneration and social security | 45 | €251,605 | €288,442 | +€36,837 | +14.6% |
| Taxes | 450/3 | €214,195 | €223,335 | +€9,140 | +4.3% |
| Remuneration and social security | 454/9 | €37,410 | €65,108 | +€27,697 | +74.0% |
| Other amounts payable | 47/48 | €13,773,394 | €10,665,443 | -€3.1m | -22.6% |
| Accrued charges and deferred income | 492/3 | €504,999 | €530,790 | +€25,791 | +5.1% |
| Remuneration, social security and pensions | 62 | €384,247 | €510,511 | +€126,264 | +32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,709 | €37,673 | -€14,036 | -27.1% |
| Other operating charges | 640/8 | €224,950 | €137,071 | -€87,880 | -39.1% |
| Gross operating margin | 9900 | €197,231 | €115,390 | -€81,841 | -41.5% |
| Operating profit (loss) | 9901 | -€463,675 | -€569,864 | -€106,189 | -22.9% |
| Financial income | 75/76B | €1,044,289 | €1,113,708 | +€69,419 | +6.6% |
| Recurring financial income | 75 | €1,044,289 | €1,113,708 | +€69,419 | +6.6% |
| Financial charges | 65/66B | €2,310,093 | €852,690 | -€1.5m | -63.1% |
| Recurring financial charges | 65 | €730,097 | €795,647 | +€65,550 | +9.0% |
| Non-recurring financial charges | 66B | €1,579,995 | €57,043 | -€1.5m | -96.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,729,479 | -€308,847 | +€1.4m | +82.1% |
| Income taxes | 67/77 | €1,544 | €5,227 | +€3,684 | +238.6% |
| Profit (loss) for the period | 9904 | -€1,731,023 | -€314,074 | +€1.4m | +81.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,731,023 | -€314,074 | +€1.4m | +81.9% |
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 7 October 2026 via checked.be.