DEPREZ KAREN: 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 KAREN
Largest movements
- Tangible fixed assets +€205,449
up €205,449 (+682%), from €30,114 to €235,563
of which Land and buildings: +€204,046
- Current investments -€176,949
down €176,949 (-83.4%), from €212,096 to €35,147
- Deferred charges and accrued income -€12,420
down €12,420 (-73.8%), from €16,837 to €4,417
- Cash +€9,462
up €9,462 (+8.2%), from €115,009 to €124,472
mainly Current investments (+€176,949) and Net result for the year (+€58,977)
- Receivables within one year +€4,397
up €4,397 (+330%), from €1,332 to €5,728
of which Other amounts receivable: +€4,607
- Other debts +€18,200
up €18,200 (+100.0%), from €18,204 to €36,404
- Reserves +€11,727
up €11,727 (+3.6%), from €328,385 to €340,112
- Gross operating margin +€9,658
up €9,658 (+12.1%), from €79,783 to €89,440
- Taxes +€3,892
up €3,892 (+20.3%), from €19,165 to €23,057
- Depreciation -€3,831
down €3,831 (-37.3%), from €10,273 to €6,442
- Financial income +€1,778
up €1,778 (+186%), from €957 to €2,735
- Financial charges +€1,625
up €1,625 (+169%), from €962 to €2,587
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 | €375,388 | €405,327 | +€29,939 | +8.0% |
| Fixed assets | 21/28 | €30,114 | €235,563 | +€205,449 | +682% |
| Tangible fixed assets | 22/27 | €30,114 | €235,563 | +€205,449 | +682% |
| Land and buildings | 22 | €26,201 | €230,247 | +€204,046 | +779% |
| Plant, machinery and equipment | 23 | €2,492 | €2,056 | -€436 | -17.5% |
| Furniture and vehicles | 24 | €1,422 | €1,022 | -€400 | -28.1% |
| Other tangible fixed assets | 26 | - | €2,239 | +€2,239 | |
| Current assets | 29/58 | €345,274 | €169,764 | -€175,510 | -50.8% |
| Amounts receivable within one year | 40/41 | €1,332 | €5,728 | +€4,397 | +330% |
| Trade receivables | 40 | €210 | - | -€210 | |
| Other amounts receivable | 41 | €1,122 | €5,728 | +€4,607 | +411% |
| Current investments | 50/53 | €212,096 | €35,147 | -€176,949 | -83.4% |
| Cash at bank and in hand | 54/58 | €115,009 | €124,472 | +€9,462 | +8.2% |
| Deferred charges and accrued income | 490/1 | €16,837 | €4,417 | -€12,420 | -73.8% |
| Total equity and liabilities | 10/49 | €375,388 | €405,327 | +€29,939 | +8.0% |
| Equity | 10/15 | €346,985 | €358,712 | +€11,727 | +3.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €328,385 | €340,112 | +€11,727 | +3.6% |
| Distributable reserves | 133 | €328,385 | €340,112 | +€11,727 | +3.6% |
| Amounts payable | 17/49 | €28,403 | €46,615 | +€18,212 | +64.1% |
| Amounts payable within one year | 42/48 | €24,263 | €44,166 | +€19,904 | +82.0% |
| Financial debts | 43 | €30 | €333 | +€303 | +1,013% |
| Credit institutions | 430/8 | €30 | €333 | +€303 | +1,013% |
| Trade debts | 44 | €6,029 | €7,429 | +€1,400 | +23.2% |
| Suppliers | 440/4 | €6,029 | €7,429 | +€1,400 | +23.2% |
| Other amounts payable | 47/48 | €18,204 | €36,404 | +€18,200 | +100.0% |
| Accrued charges and deferred income | 492/3 | €4,140 | €2,448 | -€1,692 | -40.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,273 | €6,442 | -€3,831 | -37.3% |
| Other operating charges | 640/8 | €803 | €1,111 | +€308 | +38.3% |
| Gross operating margin | 9900 | €79,783 | €89,440 | +€9,658 | +12.1% |
| Operating profit (loss) | 9901 | €68,707 | €81,887 | +€13,181 | +19.2% |
| Financial income | 75/76B | €957 | €2,735 | +€1,778 | +186% |
| Recurring financial income | 75 | €957 | €2,735 | +€1,778 | +186% |
| Financial charges | 65/66B | €962 | €2,587 | +€1,625 | +169% |
| Recurring financial charges | 65 | €962 | €2,587 | +€1,625 | +169% |
| Profit (loss) for the period before taxes | 9903 | €68,701 | €82,035 | +€13,334 | +19.4% |
| Income taxes | 67/77 | €19,165 | €23,057 | +€3,892 | +20.3% |
| Profit (loss) for the period | 9904 | €49,536 | €58,977 | +€9,442 | +19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €49,536 | €58,977 | +€9,442 | +19.1% |
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 30 October 2026 via checked.be.