DEPO: 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.
DEPO
Largest movements
- Tangible fixed assets +€67,718
up €67,718 (+2.8%), from €2.4m to €2.5m
of which Land and buildings: +€85,703
- Cash +€29,694
up €29,694 (+180.5%), from €16,454 to €46,148
mainly Other debts (+€217,550) and Depreciation (+€148,983)
- Other debts +€217,550
up €217,550 (+34.0%), from €639,365 to €856,916
- Debts after one year -€109,570
down €109,570 (-8.8%), from €1.2m to €1.1m
of which Financial debts: -€109,570
- Gross operating margin +€36,648
up €36,648 (+23.5%), from €156,209 to €192,858
- Depreciation +€5,491
up €5,491 (+3.8%), from €143,492 to €148,983
- Other operating charges +€3,892
up €3,892 (+39.7%), from €9,815 to €13,706
- Financial charges -€2,888
down €2,888 (-8.0%), from €36,040 to €33,152
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 | €2,449,922 | €2,544,857 | +€94,936 | +3.9% |
| Fixed assets | 21/28 | €2,395,316 | €2,463,034 | +€67,718 | +2.8% |
| Tangible fixed assets | 22/27 | €2,395,316 | €2,463,034 | +€67,718 | +2.8% |
| Land and buildings | 22 | €2,153,687 | €2,239,390 | +€85,703 | +4.0% |
| Plant, machinery and equipment | 23 | €200,365 | €185,444 | -€14,921 | -7.4% |
| Furniture and vehicles | 24 | €41,264 | €38,200 | -€3,064 | -7.4% |
| Current assets | 29/58 | €54,605 | €81,823 | +€27,218 | +49.8% |
| Amounts receivable within one year | 40/41 | €34,962 | €32,589 | -€2,372 | -6.8% |
| Trade receivables | 40 | €30,712 | €18,910 | -€11,801 | -38.4% |
| Other amounts receivable | 41 | €4,250 | €13,679 | +€9,429 | +221.9% |
| Cash at bank and in hand | 54/58 | €16,454 | €46,148 | +€29,694 | +180.5% |
| Deferred charges and accrued income | 490/1 | €3,190 | €3,086 | -€104 | -3.3% |
| Total equity and liabilities | 10/49 | €2,449,922 | €2,544,857 | +€94,936 | +3.9% |
| Equity | 10/15 | €330,878 | €326,201 | -€4,677 | -1.4% |
| Contributions | 10/11 | €118,592 | €118,592 | = | 0.0% |
| Reserves | 13 | €212,286 | €207,609 | -€4,677 | -2.2% |
| Tax-exempt reserves | 132 | €188,669 | €153,043 | -€35,626 | -18.9% |
| Distributable reserves | 133 | €23,617 | €54,566 | +€30,949 | +131.0% |
| Provisions and deferred taxes | 16 | €69,234 | €54,722 | -€14,513 | -21.0% |
| Deferred taxes | 168 | €69,234 | €54,722 | -€14,513 | -21.0% |
| Amounts payable | 17/49 | €2,049,809 | €2,163,935 | +€114,126 | +5.6% |
| Amounts payable after more than one year | 17 | €1,240,628 | €1,131,059 | -€109,570 | -8.8% |
| Financial debts | 170/4 | €1,138,432 | €1,028,862 | -€109,570 | -9.6% |
| Other amounts payable | 178/9 | €102,196 | €102,196 | = | 0.0% |
| Amounts payable within one year | 42/48 | €806,098 | €1,030,024 | +€223,926 | +27.8% |
| Current portion of amounts payable after more than one year | 42 | €140,650 | €142,500 | +€1,850 | +1.3% |
| Trade debts | 44 | €8,574 | €3,379 | -€5,194 | -60.6% |
| Suppliers | 440/4 | €8,574 | €3,379 | -€5,194 | -60.6% |
| Taxes, remuneration and social security | 45 | €17,509 | €27,229 | +€9,720 | +55.5% |
| Taxes | 450/3 | €17,509 | €25,403 | +€7,894 | +45.1% |
| Remuneration and social security | 454/9 | - | €1,826 | +€1,826 | |
| Other amounts payable | 47/48 | €639,365 | €856,916 | +€217,550 | +34.0% |
| Accrued charges and deferred income | 492/3 | €3,083 | €2,852 | -€231 | -7.5% |
| Non-recurring operating income | 76A | €4,536 | - | -€4,536 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,492 | €148,983 | +€5,491 | +3.8% |
| Other operating charges | 640/8 | €9,815 | €13,706 | +€3,892 | +39.7% |
| Non-recurring operating charges | 66A | €518 | - | -€518 | |
| Gross operating margin | 9900 | €156,209 | €192,858 | +€36,648 | +23.5% |
| Operating profit (loss) | 9901 | €2,385 | €30,169 | +€27,784 | +1165.1% |
| Financial income | 75/76B | €160 | - | -€160 | |
| Recurring financial income | 75 | €160 | - | -€160 | |
| Financial charges | 65/66B | €36,040 | €33,152 | -€2,888 | -8.0% |
| Recurring financial charges | 65 | €36,040 | €33,152 | -€2,888 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | -€33,496 | -€2,984 | +€30,512 | +91.1% |
| Transfer from deferred taxes | 780 | €14,513 | €14,513 | = | 0.0% |
| Income taxes | 67/77 | €17,958 | €16,206 | -€1,752 | -9.8% |
| Profit (loss) for the period | 9904 | -€36,941 | -€4,677 | +€32,263 | +87.3% |
| Transfer from tax-exempt reserves | 789 | €35,626 | €35,626 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,314 | €30,949 | +€32,263 |
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 6 October 2026 via checked.be.