DEPAX: 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.
DEPAX
Largest movements
- Tangible fixed assets -€20,722
down €20,722 (-45.3%), from €45,762 to €25,041
of which Furniture and vehicles: -€20,584
- Cash +€9,080
up €9,080 (+56.9%), from €15,970 to €25,050
mainly Depreciation (+€18,199) and Deferred charges and accrued income (+€3,555)
- Deferred charges and accrued income -€3,555
no longer reported in 2025 (was €3,555)
- Receivables within one year +€2,813
up €2,813 (+45.6%), from €6,171 to €8,984
of which Other amounts receivable: +€2,500
- Profit (loss) carried forward -€10,906
down €10,906, from €2,823 to -€8,083
- Other debts -€808
down €808 (-1.3%), from €60,522 to €59,714
- Trade debts -€729
down €729 (-63.8%), from €1,143 to €414
- Gross operating margin -€8,417
down €8,417 (-47.9%), from €17,575 to €9,159
- Depreciation +€5,044
up €5,044 (+38.3%), from €13,156 to €18,199
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 | €71,459 | €59,075 | -€12,384 | -17.3% |
| Fixed assets | 21/28 | €45,762 | €25,041 | -€20,722 | -45.3% |
| Tangible fixed assets | 22/27 | €45,762 | €25,041 | -€20,722 | -45.3% |
| Plant, machinery and equipment | 23 | €1,318 | €1,180 | -€138 | -10.5% |
| Furniture and vehicles | 24 | €44,444 | €23,860 | -€20,584 | -46.3% |
| Current assets | 29/58 | €25,696 | €34,034 | +€8,338 | +32.4% |
| Amounts receivable within one year | 40/41 | €6,171 | €8,984 | +€2,813 | +45.6% |
| Trade receivables | 40 | €6,171 | €6,484 | +€313 | +5.1% |
| Other amounts receivable | 41 | - | €2,500 | +€2,500 | |
| Cash at bank and in hand | 54/58 | €15,970 | €25,050 | +€9,080 | +56.9% |
| Deferred charges and accrued income | 490/1 | €3,555 | - | -€3,555 | |
| Total equity and liabilities | 10/49 | €71,459 | €59,075 | -€12,384 | -17.3% |
| Equity | 10/15 | €5,823 | -€5,083 | -€10,906 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,823 | -€8,083 | -€10,906 | |
| Amounts payable | 17/49 | €65,636 | €64,157 | -€1,478 | -2.3% |
| Amounts payable within one year | 42/48 | €65,636 | €64,157 | -€1,478 | -2.3% |
| Trade debts | 44 | €1,143 | €414 | -€729 | -63.8% |
| Suppliers | 440/4 | €1,143 | €414 | -€729 | -63.8% |
| Taxes, remuneration and social security | 45 | €3,970 | €4,029 | +€59 | +1.5% |
| Taxes | 450/3 | €2,470 | €2,529 | +€59 | +2.4% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €60,522 | €59,714 | -€808 | -1.3% |
| Non-recurring operating income | 76A | - | €370 | +€370 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,156 | €18,199 | +€5,044 | +38.3% |
| Other operating charges | 640/8 | €183 | €356 | +€173 | +94.6% |
| Gross operating margin | 9900 | €17,575 | €9,159 | -€8,417 | -47.9% |
| Operating profit (loss) | 9901 | €4,236 | -€9,397 | -€13,633 | |
| Financial income | 75/76B | €4 | €0 | -€4 | -95.0% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -95.0% |
| Financial charges | 65/66B | €1,418 | €1,509 | +€91 | +6.4% |
| Recurring financial charges | 65 | €1,418 | €1,509 | +€91 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €2,823 | -€10,906 | -€13,728 | |
| Profit (loss) for the period | 9904 | €2,823 | -€10,906 | -€13,728 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,823 | -€10,906 | -€13,728 |
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 13 October 2026 via checked.be.