DEPRINCE: 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.
DEPRINCE
Largest movements
- Tangible fixed assets +€358,777
up €358,777 (+144.6%), from €248,194 to €606,970
of which Land and buildings: +€369,746
- Cash -€56,467
down €56,467 (-36.6%), from €154,180 to €97,713
mainly Investment in fixed assets (net) (-€379,820) and Trade debts (-€14,610)
- Debts after one year +€234,226
new in 2025: €234,226
- Reserves +€62,778
up €62,778 (+46.4%), from €135,285 to €198,063
of which Distributable reserves: +€62,887
- Trade debts -€14,610
down €14,610 (-54.3%), from €26,912 to €12,302
- Current portion of long-term debt +€9,555
new in 2025: €9,555
- Gross operating margin -€15,721
down €15,721 (-11.5%), from €136,850 to €121,129
- Depreciation +€10,419
up €10,419 (+98.1%), from €10,624 to €21,043
- Taxes -€8,743
down €8,743 (-24.9%), from €35,181 to €26,438
- Financial charges +€7,858
up €7,858 (+1959.5%), from €401 to €8,259
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 | €486,458 | €780,780 | +€294,322 | +60.5% |
| Fixed assets | 21/28 | €248,304 | €607,080 | +€358,777 | +144.5% |
| Tangible fixed assets | 22/27 | €248,194 | €606,970 | +€358,777 | +144.6% |
| Land and buildings | 22 | €200,000 | €569,746 | +€369,746 | +184.9% |
| Plant, machinery and equipment | 23 | €9,917 | €6,592 | -€3,325 | -33.5% |
| Furniture and vehicles | 24 | €38,277 | €30,632 | -€7,644 | -20.0% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €238,155 | €173,700 | -€64,455 | -27.1% |
| Amounts receivable within one year | 40/41 | €63,755 | €58,646 | -€5,109 | -8.0% |
| Trade receivables | 40 | €41,304 | €35,384 | -€5,920 | -14.3% |
| Other amounts receivable | 41 | €22,451 | €23,261 | +€811 | +3.6% |
| Cash at bank and in hand | 54/58 | €154,180 | €97,713 | -€56,467 | -36.6% |
| Deferred charges and accrued income | 490/1 | €20,220 | €17,341 | -€2,879 | -14.2% |
| Total equity and liabilities | 10/49 | €486,458 | €780,780 | +€294,322 | +60.5% |
| Equity | 10/15 | €366,272 | €429,050 | +€62,778 | +17.1% |
| Contributions | 10/11 | €230,987 | €230,987 | = | 0.0% |
| Reserves | 13 | €135,285 | €198,063 | +€62,778 | +46.4% |
| Tax-exempt reserves | 132 | €25,694 | €25,585 | -€109 | -0.4% |
| Distributable reserves | 133 | €109,591 | €172,478 | +€62,887 | +57.4% |
| Provisions and deferred taxes | 16 | €6,423 | €6,396 | -€27 | -0.4% |
| Deferred taxes | 168 | €6,423 | €6,396 | -€27 | -0.4% |
| Amounts payable | 17/49 | €113,763 | €345,334 | +€231,571 | +203.6% |
| Amounts payable after more than one year | 17 | - | €234,226 | +€234,226 | |
| Financial debts | 170/4 | - | €234,226 | +€234,226 | |
| Amounts payable within one year | 42/48 | €113,538 | €111,108 | -€2,429 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | - | €9,555 | +€9,555 | |
| Trade debts | 44 | €26,912 | €12,302 | -€14,610 | -54.3% |
| Suppliers | 440/4 | €26,912 | €12,302 | -€14,610 | -54.3% |
| Taxes, remuneration and social security | 45 | €18,175 | €20,801 | +€2,626 | +14.4% |
| Taxes | 450/3 | €18,175 | €20,801 | +€2,626 | +14.4% |
| Other amounts payable | 47/48 | €68,450 | €68,450 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €225 | €0 | -€225 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,624 | €21,043 | +€10,419 | +98.1% |
| Other operating charges | 640/8 | €3,640 | €2,793 | -€847 | -23.3% |
| Gross operating margin | 9900 | €136,850 | €121,129 | -€15,721 | -11.5% |
| Operating profit (loss) | 9901 | €122,585 | €97,293 | -€25,292 | -20.6% |
| Financial income | 75/76B | €75 | €155 | +€80 | +107.6% |
| Recurring financial income | 75 | €75 | €155 | +€80 | +107.6% |
| Financial charges | 65/66B | €401 | €8,259 | +€7,858 | +1959.5% |
| Recurring financial charges | 65 | €401 | €8,259 | +€7,858 | +1959.5% |
| Profit (loss) for the period before taxes | 9903 | €122,259 | €89,188 | -€33,070 | -27.0% |
| Transfer from deferred taxes | 780 | - | €27 | +€27 | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €35,181 | €26,438 | -€8,743 | -24.9% |
| Profit (loss) for the period | 9904 | €87,078 | €62,778 | -€24,300 | -27.9% |
| Transfer from tax-exempt reserves | 789 | - | €109 | +€109 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €87,078 | €62,887 | -€24,192 | -27.8% |
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 8 October 2026 via checked.be.