DEPKO: 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.
DEPKO
Largest movements
- Cash -€696,614
down €696,614 (-99.1%), from €702,853 to €6,239
mainly Investment in fixed assets (net) (-€691,152) and Current investments (-€309,730)
- Tangible fixed assets +€678,572
up €678,572 (+235.2%), from €288,531 to €967,103
of which Land and buildings: +€686,407
- Current investments +€309,730
new in 2025: €309,730
- Receivables within one year -€21,436
down €21,436 (-17.2%), from €124,387 to €102,951
- Debts after one year +€300,000
new in 2025: €300,000
- Tax, wage and social debts -€28,521
down €28,521 (-97.1%), from €29,360 to €839
- Other debts +€27,690
new in 2025: €27,690
- Reserves -€26,823
down €26,823 (-2.7%), from €1.0m to €979,636
of which Distributable reserves: -€26,823
- Financial charges -€29,258
down €29,258 (-79.9%), from €36,629 to €7,371
of which Non-recurring financial charges: -€36,568
- Gross operating margin +€17,722
up €17,722 (+49.3%), from -€35,943 to -€18,221
- Depreciation +€4,745
up €4,745 (+60.6%), from €7,835 to €12,580
- Financial income +€4,198
up €4,198 (+45.5%), from €9,227 to €13,425
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 | €1,116,116 | €1,388,073 | +€271,956 | +24.4% |
| Fixed assets | 21/28 | €288,581 | €967,153 | +€678,572 | +235.1% |
| Tangible fixed assets | 22/27 | €288,531 | €967,103 | +€678,572 | +235.2% |
| Land and buildings | 22 | - | €686,407 | +€686,407 | |
| Furniture and vehicles | 24 | €1,174 | €774 | -€400 | -34.1% |
| Other tangible fixed assets | 26 | €287,357 | €279,922 | -€7,435 | -2.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €827,536 | €420,920 | -€406,616 | -49.1% |
| Amounts receivable within one year | 40/41 | €124,387 | €102,951 | -€21,436 | -17.2% |
| Other amounts receivable | 41 | €124,387 | €102,951 | -€21,436 | -17.2% |
| Current investments | 50/53 | - | €309,730 | +€309,730 | |
| Cash at bank and in hand | 54/58 | €702,853 | €6,239 | -€696,614 | -99.1% |
| Deferred charges and accrued income | 490/1 | €296 | €2,000 | +€1,704 | +575.9% |
| Total equity and liabilities | 10/49 | €1,116,116 | €1,388,073 | +€271,956 | +24.4% |
| Equity | 10/15 | €1,080,827 | €1,054,004 | -€26,823 | -2.5% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €1,006,459 | €979,636 | -€26,823 | -2.7% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €87,804 | €87,804 | = | 0.0% |
| Distributable reserves | 133 | €911,218 | €884,395 | -€26,823 | -2.9% |
| Amounts payable | 17/49 | €35,290 | €334,068 | +€298,779 | +846.6% |
| Amounts payable after more than one year | 17 | - | €300,000 | +€300,000 | |
| Financial debts | 170/4 | - | €300,000 | +€300,000 | |
| Amounts payable within one year | 42/48 | €35,290 | €34,068 | -€1,221 | -3.5% |
| Trade debts | 44 | €5,929 | €5,539 | -€390 | -6.6% |
| Suppliers | 440/4 | €5,929 | €5,539 | -€390 | -6.6% |
| Taxes, remuneration and social security | 45 | €29,360 | €839 | -€28,521 | -97.1% |
| Taxes | 450/3 | €29,360 | €839 | -€28,521 | -97.1% |
| Other amounts payable | 47/48 | - | €27,690 | +€27,690 | |
| Non-recurring operating income | 76A | €22,000 | - | -€22,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,835 | €12,580 | +€4,745 | +60.6% |
| Other operating charges | 640/8 | €2,273 | €2,076 | -€197 | -8.7% |
| Gross operating margin | 9900 | -€35,943 | -€18,221 | +€17,722 | +49.3% |
| Operating profit (loss) | 9901 | -€46,051 | -€32,876 | +€13,175 | +28.6% |
| Financial income | 75/76B | €9,227 | €13,425 | +€4,198 | +45.5% |
| Recurring financial income | 75 | €9,227 | €13,425 | +€4,198 | +45.5% |
| Financial charges | 65/66B | €36,629 | €7,371 | -€29,258 | -79.9% |
| Recurring financial charges | 65 | €61 | €7,371 | +€7,310 | +11983.6% |
| Non-recurring financial charges | 66B | €36,568 | - | -€36,568 | |
| Profit (loss) for the period before taxes | 9903 | -€73,453 | -€26,823 | +€46,630 | +63.5% |
| Income taxes | 67/77 | €237 | - | -€237 | |
| Profit (loss) for the period | 9904 | -€73,690 | -€26,823 | +€46,867 | +63.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,690 | -€26,823 | +€46,867 | +63.6% |
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 3 October 2026 via checked.be.