diff --git a/RELEASE.md b/RELEASE.md
index ebcaf4b..fbbf3bf 100644
--- a/RELEASE.md
+++ b/RELEASE.md
@@ -13,6 +13,9 @@ This release of the XMC GNU make build recipe includes support for building XMC
     * ARM Compiler 6
 
 ### What Changed?
+#### v2.3.1
+* Fixed a postbuild dependency that could cause memcalc to fail.
+
 #### v2.3.0
 * Optimization for speed changed to optimization for size for the IAR toolchain.
 * The feature of setting the default location of the ARM and IAR toolchains has been deprecated.
diff --git a/make/recipe/recipe_common.mk b/make/recipe/recipe_common.mk
index f7af94c..1d8b0a0 100644
--- a/make/recipe/recipe_common.mk
+++ b/make/recipe/recipe_common.mk
@@ -341,7 +341,7 @@ endif
 _MTB_RECIPE__MEMCALC_CACHE=$(MTB_TOOLS__OUTPUT_CONFIG_DIR)/memcalc_cache.txt
 
 ifeq ($(LIBNAME),)
-$(_MTB_RECIPE__MEMCALC_CACHE): $(_MTB_RECIPE__TARG_FILE)
+$(_MTB_RECIPE__MEMCALC_CACHE): $(_MTB_RECIPE__TARG_FILE) | app
 	$(MTB__NOISE)echo Calculating memory consumption: $(DEVICE) $(TOOLCHAIN) $(MTB_TOOLCHAIN_OPTIMIZATION)
 	$(MTB__NOISE)echo
 	$(MTB__NOISE)$(_MTB_RECIPE__GEN_READELF)
diff --git a/version.xml b/version.xml
index cccb8a1..5e58c1c 100644
--- a/version.xml
+++ b/version.xml
@@ -1 +1 @@
-<version>2.3.0.6035</version>
+<version>2.3.1.6098</version>