DEPE BUILD: what changed
What changed
DEPE BUILD
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€49,986
2024 · €58,902-€8,917
Equity
€243,399
2024 · €321,083-€77,684
Cash
€175,985
2024 · €468,943-€292,959
Balance sheet total
€760,340
2024 · €1.1m-€319,922
Largest movements
Assets
- Receivables within one year -€320,581
down €320,581 (-74.4%), from €430,726 to €110,145
of which Trade receivables: -€351,510
- Cash -€292,959
down €292,959 (-62.5%), from €468,943 to €175,985
mainly Investment in fixed assets (net) (-€338,485) and Advances received (-€312,474)
- Tangible fixed assets +€284,825
up €284,825 (+174%), from €163,571 to €448,395
- Current investments +€16,937
new in 2025: €16,937
Equity and liabilities
- Advances received -€312,474
no longer reported in 2025 (was €312,474)
- Other debts +€85,236
up €85,236 (+40.5%), from €210,550 to €295,785
- Trade debts -€83,756
down €83,756 (-87.3%), from €95,968 to €12,211
- Reserves -€77,684
down €77,684 (-25.7%), from €302,483 to €224,799
of which Distributable reserves: -€77,684
- Debts after one year +€31,923
up €31,923 (+34.1%), from €93,513 to €125,435
Income statement
- Gross operating margin +€24,252
up €24,252 (+7.3%), from €331,331 to €355,583
- Staff costs +€21,362
up €21,362 (+12.3%), from €174,270 to €195,632
- Depreciation +€19,725
up €19,725 (+58.1%), from €33,935 to €53,660
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€58,902
Gross operating margin
+€24,252
Staff costs
-€21,362
Depreciation
-€19,725
Other operating charges
+€946
Financial income
+€3,328
Financial charges
+€2,305
Taxes
+€1,339
Result 2025
€49,986
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€141,684
Investment
-€355,421
Financing
-€79,222
Cash 2024
€468,943
From operations (derived)
+€141,684
Net result for the year
+€49,986
Depreciation
+€53,660
Stocks and contracts
+€8,981
Receivables within one year
+€320,581
Deferred charges and accrued income
-€837
Trade debts
-€83,756
Tax, wage and social debts
+€16,259
Advances received
-€312,474
Other debts
+€85,236
Accrued charges and deferred income
+€4,049
Investment (derived)
-€355,421
Investment in fixed assets (net)
-€338,485
Current investments
-€16,937
Financing
-€79,222
Debts after one year
+€31,923
Current portion of long-term debt
+€16,526
Contributions, distributions and other
-€127,670
Cash 2025
€175,985
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,080,262 | €760,340 | -€319,922 | -29.6% |
| Fixed assets | 21/28 | €163,571 | €448,395 | +€284,825 | +174% |
| Tangible fixed assets | 22/27 | €163,571 | €448,395 | +€284,825 | +174% |
| Land and buildings | 22 | €119,954 | €225,451 | +€105,497 | +87.9% |
| Plant, machinery and equipment | 23 | €6,853 | €3,412 | -€3,441 | -50.2% |
| Furniture and vehicles | 24 | €36,763 | €107,841 | +€71,078 | +193% |
| Assets under construction and advance payments | 27 | - | €111,691 | +€111,691 | |
| Current assets | 29/58 | €916,691 | €311,945 | -€604,746 | -66.0% |
| Stocks and contracts in progress | 3 | €10,488 | €1,507 | -€8,981 | -85.6% |
| Stocks | 30/36 | €10,488 | €1,507 | -€8,981 | -85.6% |
| Amounts receivable within one year | 40/41 | €430,726 | €110,145 | -€320,581 | -74.4% |
| Trade receivables | 40 | €414,040 | €62,530 | -€351,510 | -84.9% |
| Other amounts receivable | 41 | €16,686 | €47,615 | +€30,929 | +185% |
| Current investments | 50/53 | - | €16,937 | +€16,937 | |
| Cash at bank and in hand | 54/58 | €468,943 | €175,985 | -€292,959 | -62.5% |
| Deferred charges and accrued income | 490/1 | €6,534 | €7,372 | +€837 | +12.8% |
| Total equity and liabilities | 10/49 | €1,080,262 | €760,340 | -€319,922 | -29.6% |
| Equity | 10/15 | €321,083 | €243,399 | -€77,684 | -24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €302,483 | €224,799 | -€77,684 | -25.7% |
| 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 | €300,623 | €222,939 | -€77,684 | -25.8% |
| Amounts payable | 17/49 | €759,179 | €516,941 | -€242,238 | -31.9% |
| Amounts payable after more than one year | 17 | €93,513 | €125,435 | +€31,923 | +34.1% |
| Financial debts | 170/4 | €93,513 | €125,435 | +€31,923 | +34.1% |
| Amounts payable within one year | 42/48 | €656,433 | €378,223 | -€278,210 | -42.4% |
| Current portion of amounts payable after more than one year | 42 | €21,535 | €38,061 | +€16,526 | +76.7% |
| Trade debts | 44 | €95,968 | €12,211 | -€83,756 | -87.3% |
| Suppliers | 440/4 | €95,968 | €12,211 | -€83,756 | -87.3% |
| Advances received on contracts in progress | 46 | €312,474 | - | -€312,474 | |
| Taxes, remuneration and social security | 45 | €15,906 | €32,165 | +€16,259 | +102% |
| Taxes | 450/3 | €15,692 | €31,513 | +€15,821 | +101% |
| Remuneration and social security | 454/9 | €214 | €652 | +€438 | +205% |
| Other amounts payable | 47/48 | €210,550 | €295,785 | +€85,236 | +40.5% |
| Accrued charges and deferred income | 492/3 | €9,234 | €13,283 | +€4,049 | +43.9% |
| Remuneration, social security and pensions | 62 | €174,270 | €195,632 | +€21,362 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,935 | €53,660 | +€19,725 | +58.1% |
| Other operating charges | 640/8 | €3,391 | €2,445 | -€946 | -27.9% |
| Gross operating margin | 9900 | €331,331 | €355,583 | +€24,252 | +7.3% |
| Operating profit (loss) | 9901 | €119,734 | €103,845 | -€15,888 | -13.3% |
| Financial income | 75/76B | €1,860 | €5,188 | +€3,328 | +179% |
| Recurring financial income | 75 | €1,860 | €4,849 | +€2,989 | +161% |
| Non-recurring financial income | 76B | - | €339 | +€339 | |
| Financial charges | 65/66B | €37,808 | €35,503 | -€2,305 | -6.1% |
| Recurring financial charges | 65 | €37,808 | €35,347 | -€2,461 | -6.5% |
| Non-recurring financial charges | 66B | - | €156 | +€156 | |
| Profit (loss) for the period before taxes | 9903 | €83,787 | €73,531 | -€10,255 | -12.2% |
| Income taxes | 67/77 | €24,884 | €23,545 | -€1,339 | -5.4% |
| Profit (loss) for the period | 9904 | €58,902 | €49,986 | -€8,917 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €58,902 | €49,986 | -€8,917 | -15.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.