DANIEL KENES: 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.
DANIEL KENES
Largest movements
- Receivables within one year +€14,627
up €14,627 (+135.4%), from €10,800 to €25,427
of which Trade receivables: +€12,977
- Tangible fixed assets -€5,439
down €5,439 (-46.7%), from €11,640 to €6,201
of which Furniture and vehicles: -€5,839
- Current investments -€5,352
down €5,352 (-8.9%), from €60,000 to €54,648
- Intangible fixed assets +€2,193
up €2,193 (+158.2%), from €1,387 to €3,580
- Trade debts +€19,867
up €19,867 (+1278.0%), from €1,555 to €21,422
- Profit (loss) carried forward -€17,948
down €17,948 (-34.6%), from €51,872 to €33,924
- Other debts +€5,587
up €5,587 (+268.3%), from €2,082 to €7,669
- Tax, wage and social debts -€1,151
down €1,151 (-45.5%), from €2,528 to €1,377
- Gross operating margin -€20,696
down €20,696, from €7,816 to -€12,879
- Taxes -€3,416
down €3,416 (-89.8%), from €3,804 to €389
- Depreciation +€1,009
up €1,009 (+35.5%), from €2,842 to €3,852
- Financial income -€441
down €441 (-32.3%), from €1,368 to €927
- Financial charges +€415
up €415 (+169.9%), from €244 to €658
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 | €93,096 | €99,451 | +€6,356 | +6.8% |
| Fixed assets | 21/28 | €19,151 | €15,906 | -€3,246 | -16.9% |
| Intangible fixed assets | 21 | €1,387 | €3,580 | +€2,193 | +158.2% |
| Tangible fixed assets | 22/27 | €11,640 | €6,201 | -€5,439 | -46.7% |
| Furniture and vehicles | 24 | €6,175 | €335 | -€5,839 | -94.6% |
| Other tangible fixed assets | 26 | €5,465 | €5,866 | +€401 | +7.3% |
| Financial fixed assets | 28 | €6,125 | €6,125 | = | 0.0% |
| Current assets | 29/58 | €73,944 | €83,546 | +€9,601 | +13.0% |
| Amounts receivable within one year | 40/41 | €10,800 | €25,427 | +€14,627 | +135.4% |
| Trade receivables | 40 | €10,800 | €23,777 | +€12,977 | +120.2% |
| Other amounts receivable | 41 | - | €1,650 | +€1,650 | |
| Current investments | 50/53 | €60,000 | €54,648 | -€5,352 | -8.9% |
| Cash at bank and in hand | 54/58 | €1,158 | €2,137 | +€979 | +84.5% |
| Deferred charges and accrued income | 490/1 | €1,986 | €1,333 | -€653 | -32.9% |
| Total equity and liabilities | 10/49 | €93,096 | €99,451 | +€6,356 | +6.8% |
| Equity | 10/15 | €86,932 | €68,984 | -€17,948 | -20.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €28,860 | €28,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €27,000 | €27,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,872 | €33,924 | -€17,948 | -34.6% |
| Amounts payable | 17/49 | €6,164 | €30,467 | +€24,303 | +394.3% |
| Amounts payable within one year | 42/48 | €6,164 | €30,467 | +€24,303 | +394.3% |
| Trade debts | 44 | €1,555 | €21,422 | +€19,867 | +1278.0% |
| Suppliers | 440/4 | €1,555 | €21,422 | +€19,867 | +1278.0% |
| Taxes, remuneration and social security | 45 | €2,528 | €1,377 | -€1,151 | -45.5% |
| Taxes | 450/3 | €2,528 | €1,377 | -€1,151 | -45.5% |
| Other amounts payable | 47/48 | €2,082 | €7,669 | +€5,587 | +268.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,842 | €3,852 | +€1,009 | +35.5% |
| Other operating charges | 640/8 | €763 | €1,096 | +€333 | +43.6% |
| Gross operating margin | 9900 | €7,816 | -€12,879 | -€20,696 | |
| Operating profit (loss) | 9901 | €4,211 | -€17,827 | -€22,038 | |
| Financial income | 75/76B | €1,368 | €927 | -€441 | -32.3% |
| Recurring financial income | 75 | €1,368 | €927 | -€441 | -32.3% |
| Financial charges | 65/66B | €244 | €658 | +€415 | +169.9% |
| Recurring financial charges | 65 | €244 | €658 | +€415 | +169.9% |
| Profit (loss) for the period before taxes | 9903 | €5,335 | -€17,559 | -€22,894 | |
| Income taxes | 67/77 | €3,804 | €389 | -€3,416 | -89.8% |
| Profit (loss) for the period | 9904 | €1,530 | -€17,948 | -€19,478 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,530 | -€17,948 | -€19,478 |
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.