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
- Receivables within one year +€49,162
up €49,162 (+29.6%), from €166,336 to €215,498
of which Other amounts receivable: +€34,151
- Cash +€32,954
up €32,954 (+716.9%), from €4,597 to €37,551
mainly Investment in fixed assets (net) (+€43,133) and Trade debts (+€32,848)
- Intangible fixed assets -€25,887
no longer reported in 2025 (was €25,887)
- Tangible fixed assets -€20,111
down €20,111 (-74.1%), from €27,142 to €7,031
of which Land and buildings: -€16,691
- Trade debts +€32,848
up €32,848 (+491.3%), from €6,686 to €39,534
- Reserves +€32,115
up €32,115 (+23.8%), from €135,176 to €167,291
- Debts after one year -€16,097
no longer reported in 2025 (was €16,097)
- Short-term financial debts -€8,001
no longer reported in 2025 (was €8,001)
- Gross operating margin +€49,696
up €49,696 (+26.1%), from €190,302 to €239,998
- Staff costs -€15,877
down €15,877 (-11.3%), from €140,676 to €124,799
- Depreciation -€5,948
down €5,948 (-67.5%), from €8,814 to €2,866
- Taxes +€5,689
up €5,689 (+97.5%), from €5,836 to €11,525
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 | €224,977 | €261,432 | +€36,455 | +16.2% |
| Fixed assets | 21/28 | €53,029 | €7,031 | -€45,999 | -86.7% |
| Intangible fixed assets | 21 | €25,887 | - | -€25,887 | |
| Tangible fixed assets | 22/27 | €27,142 | €7,031 | -€20,111 | -74.1% |
| Land and buildings | 22 | €16,691 | - | -€16,691 | |
| Plant, machinery and equipment | 23 | €10,451 | €7,031 | -€3,420 | -32.7% |
| Current assets | 29/58 | €171,947 | €254,401 | +€82,454 | +48.0% |
| Amounts receivable within one year | 40/41 | €166,336 | €215,498 | +€49,162 | +29.6% |
| Trade receivables | 40 | €22,661 | €37,672 | +€15,011 | +66.2% |
| Other amounts receivable | 41 | €143,675 | €177,826 | +€34,151 | +23.8% |
| Cash at bank and in hand | 54/58 | €4,597 | €37,551 | +€32,954 | +716.9% |
| Deferred charges and accrued income | 490/1 | €1,014 | €1,353 | +€338 | +33.3% |
| Total equity and liabilities | 10/49 | €224,977 | €261,432 | +€36,455 | +16.2% |
| Equity | 10/15 | €160,176 | €192,291 | +€32,115 | +20.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €135,176 | €167,291 | +€32,115 | +23.8% |
| Distributable reserves | 133 | €135,176 | €167,291 | +€32,115 | +23.8% |
| Amounts payable | 17/49 | €64,801 | €69,141 | +€4,341 | +6.7% |
| Amounts payable after more than one year | 17 | €16,097 | - | -€16,097 | |
| Financial debts | 170/4 | €16,097 | - | -€16,097 | |
| Amounts payable within one year | 42/48 | €48,704 | €69,141 | +€20,437 | +42.0% |
| Current portion of amounts payable after more than one year | 42 | €18,469 | €16,097 | -€2,372 | -12.8% |
| Financial debts | 43 | €8,001 | - | -€8,001 | |
| Credit institutions | 430/8 | €8,001 | - | -€8,001 | |
| Trade debts | 44 | €6,686 | €39,534 | +€32,848 | +491.3% |
| Suppliers | 440/4 | €6,686 | €39,534 | +€32,848 | +491.3% |
| Taxes, remuneration and social security | 45 | €15,548 | €13,511 | -€2,037 | -13.1% |
| Taxes | 450/3 | €2,944 | €9,442 | +€6,497 | +220.7% |
| Remuneration and social security | 454/9 | €12,603 | €4,069 | -€8,535 | -67.7% |
| Non-recurring operating income | 76A | - | €175 | +€175 | |
| Remuneration, social security and pensions | 62 | €140,676 | €124,799 | -€15,877 | -11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,814 | €2,866 | -€5,948 | -67.5% |
| Other operating charges | 640/8 | €5,098 | €6,106 | +€1,007 | +19.8% |
| Non-recurring operating charges | 66A | - | €67,578 | +€67,578 | |
| Gross operating margin | 9900 | €190,302 | €239,998 | +€49,696 | +26.1% |
| Operating profit (loss) | 9901 | €35,714 | €38,649 | +€2,935 | +8.2% |
| Financial income | 75/76B | €6,995 | €9,015 | +€2,019 | +28.9% |
| Recurring financial income | 75 | €6,995 | €9,015 | +€2,019 | +28.9% |
| Financial charges | 65/66B | €4,788 | €4,023 | -€765 | -16.0% |
| Recurring financial charges | 65 | €4,788 | €4,023 | -€765 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €37,921 | €43,640 | +€5,719 | +15.1% |
| Income taxes | 67/77 | €5,836 | €11,525 | +€5,689 | +97.5% |
| Profit (loss) for the period | 9904 | €32,085 | €32,115 | +€30 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €32,085 | €32,115 | +€30 | +0.1% |
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 1 October 2026 via checked.be.