DEPONDT: 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.
DEPONDT
Largest movements
- Tangible fixed assets -€221,542
down €221,542 (-12.7%), from €1.7m to €1.5m
of which Plant, machinery and equipment: -€138,415
- Cash +€194,315
up €194,315 (+303%), from €64,092 to €258,407
mainly Depreciation (+€224,832) and Net result for the year (+€59,708)
- Receivables within one year -€22,867
down €22,867 (-9.0%), from €255,223 to €232,355
of which Other amounts receivable: -€16,735
- Debts after one year -€129,891
down €129,891 (-23.2%), from €559,334 to €429,443
- Reserves +€59,708
up €59,708 (+6.7%), from €890,504 to €950,212
of which Distributable reserves: +€59,708
- Gross operating margin -€17,032
down €17,032 (-2.6%), from €656,424 to €639,392
- Staff costs -€10,176
down €10,176 (-3.8%), from €270,594 to €260,418
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 | €2,126,195 | €2,072,087 | -€54,108 | -2.5% |
| Fixed assets | 21/28 | €1,745,558 | €1,524,016 | -€221,542 | -12.7% |
| Tangible fixed assets | 22/27 | €1,742,707 | €1,521,165 | -€221,542 | -12.7% |
| Land and buildings | 22 | €880,954 | €825,563 | -€55,392 | -6.3% |
| Plant, machinery and equipment | 23 | €771,475 | €633,060 | -€138,415 | -17.9% |
| Furniture and vehicles | 24 | €33,419 | €21,027 | -€12,392 | -37.1% |
| Leasing and similar rights | 25 | €56,859 | €41,516 | -€15,343 | -27.0% |
| Financial fixed assets | 28 | €2,851 | €2,851 | = | 0.0% |
| Current assets | 29/58 | €380,638 | €548,071 | +€167,434 | +44.0% |
| Amounts receivable within one year | 40/41 | €255,223 | €232,355 | -€22,867 | -9.0% |
| Trade receivables | 40 | €197,465 | €191,332 | -€6,133 | -3.1% |
| Other amounts receivable | 41 | €57,758 | €41,023 | -€16,735 | -29.0% |
| Cash at bank and in hand | 54/58 | €64,092 | €258,407 | +€194,315 | +303% |
| Deferred charges and accrued income | 490/1 | €61,323 | €57,309 | -€4,014 | -6.5% |
| Total equity and liabilities | 10/49 | €2,126,195 | €2,072,087 | -€54,108 | -2.5% |
| Equity | 10/15 | €915,293 | €975,001 | +€59,708 | +6.5% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €890,504 | €950,212 | +€59,708 | +6.7% |
| Tax-exempt reserves | 132 | €40,565 | €40,565 | = | 0.0% |
| Distributable reserves | 133 | €849,939 | €909,647 | +€59,708 | +7.0% |
| Amounts payable | 17/49 | €1,210,902 | €1,097,086 | -€113,816 | -9.4% |
| Amounts payable after more than one year | 17 | €559,334 | €429,443 | -€129,891 | -23.2% |
| Financial debts | 170/4 | €559,334 | €429,443 | -€129,891 | -23.2% |
| Amounts payable within one year | 42/48 | €648,881 | €664,449 | +€15,568 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €140,567 | €129,219 | -€11,348 | -8.1% |
| Financial debts | 43 | €373,947 | €373,947 | = | 0.0% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €373,947 | €373,947 | = | 0.0% |
| Trade debts | 44 | €47,557 | €58,848 | +€11,291 | +23.7% |
| Suppliers | 440/4 | €47,557 | €58,848 | +€11,291 | +23.7% |
| Taxes, remuneration and social security | 45 | €46,701 | €54,192 | +€7,491 | +16.0% |
| Taxes | 450/3 | €16,091 | €24,033 | +€7,942 | +49.4% |
| Remuneration and social security | 454/9 | €30,610 | €30,159 | -€451 | -1.5% |
| Other amounts payable | 47/48 | €40,110 | €48,244 | +€8,134 | +20.3% |
| Accrued charges and deferred income | 492/3 | €2,687 | €3,193 | +€507 | +18.9% |
| Non-recurring operating income | 76A | €1,065 | €20 | -€1,045 | -98.1% |
| Remuneration, social security and pensions | 62 | €270,594 | €260,418 | -€10,176 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €227,750 | €224,832 | -€2,918 | -1.3% |
| Other operating charges | 640/8 | €29,073 | €31,915 | +€2,841 | +9.8% |
| Gross operating margin | 9900 | €656,424 | €639,392 | -€17,032 | -2.6% |
| Operating profit (loss) | 9901 | €129,007 | €122,227 | -€6,780 | -5.3% |
| Financial income | 75/76B | €122 | €273 | +€151 | +124% |
| Recurring financial income | 75 | €122 | €273 | +€151 | +124% |
| Financial charges | 65/66B | €48,512 | €45,846 | -€2,666 | -5.5% |
| Recurring financial charges | 65 | €48,512 | €45,846 | -€2,666 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €80,616 | €76,653 | -€3,963 | -4.9% |
| Income taxes | 67/77 | €17,225 | €16,945 | -€280 | -1.6% |
| Profit (loss) for the period | 9904 | €63,391 | €59,708 | -€3,683 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €63,391 | €59,708 | -€3,683 | -5.8% |
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 16 October 2026 via checked.be.