diff --git a/devtools/maven/src/main/java/io/quarkus/maven/TrackConfigChangesMojo.java b/devtools/maven/src/main/java/io/quarkus/maven/TrackConfigChangesMojo.java
index 13f43790799818..12fd8560ccf921 100644
--- a/devtools/maven/src/main/java/io/quarkus/maven/TrackConfigChangesMojo.java
+++ b/devtools/maven/src/main/java/io/quarkus/maven/TrackConfigChangesMojo.java
@@ -1,12 +1,20 @@
 package io.quarkus.maven;
 
 import java.io.BufferedReader;
+import java.io.BufferedWriter;
 import java.io.File;
+import java.io.FileWriter;
 import java.io.IOException;
 import java.lang.reflect.Method;
+import java.nio.file.DirectoryStream;
 import java.nio.file.Files;
 import java.nio.file.Path;
+import java.util.ArrayList;
+import java.util.Collections;
+import java.util.List;
 import java.util.Properties;
+import java.util.zip.Adler32;
+import java.util.zip.Checksum;
 
 import org.apache.maven.plugin.MojoExecutionException;
 import org.apache.maven.plugin.MojoFailureException;
@@ -18,6 +26,7 @@
 import io.quarkus.bootstrap.app.CuratedApplication;
 import io.quarkus.bootstrap.classloading.QuarkusClassLoader;
 import io.quarkus.bootstrap.model.ApplicationModel;
+import io.quarkus.maven.dependency.DependencyFlags;
 import io.quarkus.runtime.LaunchMode;
 
 /**
@@ -58,6 +67,18 @@ public class TrackConfigChangesMojo extends QuarkusBootstrapMojo {
     @Parameter(defaultValue = "false", property = "quarkus.track-config-changes.dump-current-when-recorded-unavailable")
     boolean dumpCurrentWhenRecordedUnavailable;
 
+    /**
+     * Whether to dump Quarkus application dependencies along with their checksums
+     */
+    @Parameter(defaultValue = "true", property = "quarkus.track-config-changes.dump-dependencies")
+    boolean dumpDependencies;
+
+    /**
+     * Dependency dump file
+     */
+    @Parameter(property = "quarkus.track-config-changes.dependenciesFile", defaultValue = "quarkus-app-deps.txt")
+    String dependenciesFile;
+
     @Override
     protected boolean beforeExecute() throws MojoExecutionException, MojoFailureException {
         if (skip) {
@@ -103,13 +124,14 @@ protected void doExecute() throws MojoExecutionException, MojoFailureException {
         }
 
         final Properties compareProps = new Properties();
-        if (Files.exists(compareFile)) {
+        boolean prevConfigExists = Files.exists(compareFile);
+        if (prevConfigExists) {
             try (BufferedReader reader = Files.newBufferedReader(compareFile)) {
                 compareProps.load(reader);
             } catch (IOException e) {
                 throw new RuntimeException("Failed to read " + compareFile, e);
             }
-        } else if (!dumpCurrentWhenRecordedUnavailable) {
+        } else if (!dumpCurrentWhenRecordedUnavailable && !dumpDependencies) {
             getLog().info(compareFile + " not found");
             return;
         }
@@ -117,19 +139,38 @@ protected void doExecute() throws MojoExecutionException, MojoFailureException {
         CuratedApplication curatedApplication = null;
         QuarkusClassLoader deploymentClassLoader = null;
         final ClassLoader originalCl = Thread.currentThread().getContextClassLoader();
-        Properties actualProps;
         final boolean clearPackageTypeSystemProperty = setPackageTypeSystemPropertyIfNativeProfileEnabled();
         try {
             curatedApplication = bootstrapApplication(launchMode);
-            deploymentClassLoader = curatedApplication.createDeploymentClassLoader();
-            Thread.currentThread().setContextClassLoader(deploymentClassLoader);
-
-            final Class<?> codeGenerator = deploymentClassLoader.loadClass("io.quarkus.deployment.CodeGenerator");
-            final Method dumpConfig = codeGenerator.getMethod("dumpCurrentConfigValues", ApplicationModel.class, String.class,
-                    Properties.class, QuarkusClassLoader.class, Properties.class, Path.class);
-            dumpConfig.invoke(null, curatedApplication.getApplicationModel(),
-                    launchMode.name(), getBuildSystemProperties(true),
-                    deploymentClassLoader, compareProps, targetFile);
+            if (prevConfigExists || dumpCurrentWhenRecordedUnavailable) {
+                deploymentClassLoader = curatedApplication.createDeploymentClassLoader();
+                Thread.currentThread().setContextClassLoader(deploymentClassLoader);
+
+                final Class<?> codeGenerator = deploymentClassLoader.loadClass("io.quarkus.deployment.CodeGenerator");
+                final Method dumpConfig = codeGenerator.getMethod("dumpCurrentConfigValues", ApplicationModel.class,
+                        String.class,
+                        Properties.class, QuarkusClassLoader.class, Properties.class, Path.class);
+                dumpConfig.invoke(null, curatedApplication.getApplicationModel(),
+                        launchMode.name(), getBuildSystemProperties(true),
+                        deploymentClassLoader, compareProps, targetFile);
+            }
+
+            if (dumpDependencies) {
+                var dependenciesFile = new File(outputDirectory, this.dependenciesFile);
+                dependenciesFile.getParentFile().mkdirs();
+                final List<String> deps = new ArrayList<>();
+                for (var d : curatedApplication.getApplicationModel().getDependencies(DependencyFlags.DEPLOYMENT_CP)) {
+                    var adler32 = new Adler32();
+                    updateChecksum(adler32, d.getResolvedPaths());
+                    deps.add(d.toGACTVString() + " " + adler32.getValue());
+                }
+                try (BufferedWriter writer = new BufferedWriter(new FileWriter(dependenciesFile))) {
+                    for (var s : deps) {
+                        writer.write(s);
+                        writer.newLine();
+                    }
+                }
+            }
         } catch (Exception any) {
             throw new MojoExecutionException("Failed to bootstrap Quarkus application", any);
         } finally {
@@ -142,4 +183,34 @@ protected void doExecute() throws MojoExecutionException, MojoFailureException {
             }
         }
     }
+
+    private static void updateChecksum(Checksum checksum, Iterable<Path> pc) throws IOException {
+        for (var path : sort(pc)) {
+            if (Files.isDirectory(path)) {
+                try (DirectoryStream<Path> stream = Files.newDirectoryStream(path)) {
+                    updateChecksum(checksum, stream);
+                }
+            } else {
+                checksum.update(Files.readAllBytes(path));
+            }
+        }
+    }
+
+    private static Iterable<Path> sort(Iterable<Path> original) {
+        var i = original.iterator();
+        if (!i.hasNext()) {
+            return List.of();
+        }
+        var o = i.next();
+        if (!i.hasNext()) {
+            return List.of(o);
+        }
+        final List<Path> sorted = new ArrayList<>();
+        sorted.add(o);
+        while (i.hasNext()) {
+            sorted.add(i.next());
+        }
+        Collections.sort(sorted);
+        return sorted;
+    }
 }