DEPREZ: 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.
DEPREZ
Largest movements
- Tangible fixed assets +€240,495
up €240,495 (+42.2%), from €569,592 to €810,088
of which Other tangible fixed assets: +€307,649
- Financial fixed assets -€142,425
down €142,425 (-99.0%), from €143,795 to €1,370
- Stocks and contracts +€67,383
up €67,383 (+36.2%), from €186,057 to €253,440
- Receivables within one year +€26,842
up €26,842 (+8.8%), from €305,395 to €332,237
of which Other amounts receivable: +€73,586
- Intangible fixed assets +€18,542
new in 2025: €18,542
- Debts after one year +€145,235
up €145,235 (+29.9%), from €485,996 to €631,230
of which Financial debts: +€95,235
- Tax, wage and social debts +€68,103
up €68,103 (+137.9%), from €49,369 to €117,473
of which Remuneration and social security: +€51,495
- Trade debts +€46,711
up €46,711 (+21.0%), from €222,758 to €269,469
- Current portion of long-term debt -€30,056
down €30,056 (-30.0%), from €100,079 to €70,023
- Reserves -€27,858
down €27,858 (-12.2%), from €227,577 to €199,719
of which Distributable reserves: -€27,858
- Gross operating margin +€246,685
up €246,685 (+76.6%), from €321,987 to €568,672
- Staff costs +€167,740
up €167,740 (+61.0%), from €274,981 to €442,721
- Depreciation +€14,335
up €14,335 (+21.2%), from €67,643 to €81,978
- Other operating charges +€13,796
up €13,796 (+107.8%), from €12,797 to €26,593
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 | €1,424,837 | €1,654,510 | +€229,673 | +16.1% |
| Fixed assets | 21/28 | €713,387 | €830,000 | +€116,613 | +16.3% |
| Intangible fixed assets | 21 | - | €18,542 | +€18,542 | |
| Tangible fixed assets | 22/27 | €569,592 | €810,088 | +€240,495 | +42.2% |
| Land and buildings | 22 | €63,612 | €62,767 | -€846 | -1.3% |
| Plant, machinery and equipment | 23 | €505,622 | €439,672 | -€65,950 | -13.0% |
| Furniture and vehicles | 24 | €358 | €0 | -€358 | -100.0% |
| Other tangible fixed assets | 26 | - | €307,649 | +€307,649 | |
| Financial fixed assets | 28 | €143,795 | €1,370 | -€142,425 | -99.0% |
| Current assets | 29/58 | €711,450 | €824,510 | +€113,061 | +15.9% |
| Stocks and contracts in progress | 3 | €186,057 | €253,440 | +€67,383 | +36.2% |
| Stocks | 30/36 | €186,057 | €253,440 | +€67,383 | +36.2% |
| Amounts receivable within one year | 40/41 | €305,395 | €332,237 | +€26,842 | +8.8% |
| Trade receivables | 40 | €281,641 | €234,896 | -€46,745 | -16.6% |
| Other amounts receivable | 41 | €23,755 | €97,341 | +€73,586 | +309.8% |
| Cash at bank and in hand | 54/58 | €161,887 | €175,959 | +€14,072 | +8.7% |
| Deferred charges and accrued income | 490/1 | €58,111 | €62,875 | +€4,764 | +8.2% |
| Total equity and liabilities | 10/49 | €1,424,837 | €1,654,510 | +€229,673 | +16.1% |
| Equity | 10/15 | €289,577 | €261,719 | -€27,858 | -9.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €227,577 | €199,719 | -€27,858 | -12.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €221,377 | €193,519 | -€27,858 | -12.6% |
| Amounts payable | 17/49 | €1,135,261 | €1,392,792 | +€257,531 | +22.7% |
| Amounts payable after more than one year | 17 | €485,996 | €631,230 | +€145,235 | +29.9% |
| Financial debts | 170/4 | €435,996 | €531,230 | +€95,235 | +21.8% |
| Other amounts payable | 178/9 | €50,000 | €100,000 | +€50,000 | +100.0% |
| Amounts payable within one year | 42/48 | €647,165 | €752,054 | +€104,890 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €100,079 | €70,023 | -€30,056 | -30.0% |
| Financial debts | 43 | €85,323 | €82,926 | -€2,397 | -2.8% |
| Credit institutions | 430/8 | €85,323 | €82,926 | -€2,397 | -2.8% |
| Trade debts | 44 | €222,758 | €269,469 | +€46,711 | +21.0% |
| Suppliers | 440/4 | €222,758 | €269,469 | +€46,711 | +21.0% |
| Taxes, remuneration and social security | 45 | €49,369 | €117,473 | +€68,103 | +137.9% |
| Taxes | 450/3 | €9,623 | €26,231 | +€16,608 | +172.6% |
| Remuneration and social security | 454/9 | €39,747 | €91,242 | +€51,495 | +129.6% |
| Other amounts payable | 47/48 | €189,635 | €212,164 | +€22,529 | +11.9% |
| Accrued charges and deferred income | 492/3 | €2,100 | €9,507 | +€7,407 | +352.6% |
| Non-recurring operating income | 76A | €0 | €4,615 | +€4,615 | |
| Remuneration, social security and pensions | 62 | €274,981 | €442,721 | +€167,740 | +61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,643 | €81,978 | +€14,335 | +21.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,651 | €0 | -€3,651 | -100.0% |
| Other operating charges | 640/8 | €12,797 | €26,593 | +€13,796 | +107.8% |
| Non-recurring operating charges | 66A | €183 | €17,400 | +€17,217 | +9420.0% |
| Gross operating margin | 9900 | €321,987 | €568,672 | +€246,685 | +76.6% |
| Operating profit (loss) | 9901 | -€37,268 | -€20 | +€37,248 | +99.9% |
| Financial income | 75/76B | €8,373 | €3,013 | -€5,361 | -64.0% |
| Recurring financial income | 75 | €8,373 | €3,013 | -€5,361 | -64.0% |
| Financial charges | 65/66B | €25,814 | €30,376 | +€4,562 | +17.7% |
| Recurring financial charges | 65 | €25,814 | €30,376 | +€4,562 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | -€54,709 | -€27,384 | +€27,325 | +49.9% |
| Income taxes | 67/77 | €500 | €475 | -€25 | -5.1% |
| Profit (loss) for the period | 9904 | -€55,209 | -€27,858 | +€27,351 | +49.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,209 | -€27,858 | +€27,351 | +49.5% |
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 9 October 2026 via checked.be.