Dirk Kennis: 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.
Dirk Kennis
Largest movements
- Cash -€57,726
down €57,726 (-84.5%), from €68,331 to €10,606
mainly Contributions, distributions and other (-€309,000) and Current portion of long-term debt (-€20,000)
- Tangible fixed assets +€10,128
up €10,128 (+116%), from €8,719 to €18,847
of which Furniture and vehicles: +€10,704
- Receivables within one year -€7,302
down €7,302 (-19.9%), from €36,692 to €29,390
of which Trade receivables: -€15,000
- Reserves -€277,551
down €277,551 (-79.6%), from €348,640 to €71,089
- Other debts +€246,991
up €246,991 (+398%), from €62,009 to €309,000
- Current portion of long-term debt -€20,000
down €20,000 (-100%), from €20,000 to €0
- Trade debts -€4,737
down €4,737 (-82.2%), from €5,763 to €1,026
- Gross operating margin -€20,594
down €20,594 (-29.6%), from €69,556 to €48,962
- Taxes -€4,967
down €4,967 (-27.2%), from €18,291 to €13,324
- Depreciation +€908
up €908 (+48.8%), from €1,862 to €2,770
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 | €444,648 | €389,650 | -€54,997 | -12.4% |
| Fixed assets | 21/28 | €339,386 | €349,514 | +€10,128 | +3.0% |
| Tangible fixed assets | 22/27 | €8,719 | €18,847 | +€10,128 | +116% |
| Plant, machinery and equipment | 23 | €1,412 | €836 | -€576 | -40.8% |
| Furniture and vehicles | 24 | €7,307 | €18,011 | +€10,704 | +146% |
| Financial fixed assets | 28 | €330,666 | €330,666 | = | 0.0% |
| Current assets | 29/58 | €105,262 | €40,137 | -€65,125 | -61.9% |
| Amounts receivable within one year | 40/41 | €36,692 | €29,390 | -€7,302 | -19.9% |
| Trade receivables | 40 | €30,000 | €15,000 | -€15,000 | -50.0% |
| Other amounts receivable | 41 | €6,692 | €14,390 | +€7,698 | +115% |
| Cash at bank and in hand | 54/58 | €68,331 | €10,606 | -€57,726 | -84.5% |
| Deferred charges and accrued income | 490/1 | €239 | €141 | -€97 | -40.8% |
| Total equity and liabilities | 10/49 | €444,648 | €389,650 | -€54,997 | -12.4% |
| Equity | 10/15 | €356,080 | €78,529 | -€277,551 | -77.9% |
| Contributions | 10/11 | €7,440 | €7,440 | = | 0.0% |
| Reserves | 13 | €348,640 | €71,089 | -€277,551 | -79.6% |
| Distributable reserves | 133 | €348,640 | €71,089 | -€277,551 | -79.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €88,568 | €311,122 | +€222,554 | +251% |
| Amounts payable within one year | 42/48 | €88,568 | €311,122 | +€222,554 | +251% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €0 | -€20,000 | -100% |
| Trade debts | 44 | €5,763 | €1,026 | -€4,737 | -82.2% |
| Suppliers | 440/4 | €5,763 | €1,026 | -€4,737 | -82.2% |
| Taxes, remuneration and social security | 45 | €796 | €1,095 | +€300 | +37.7% |
| Taxes | 450/3 | €796 | €1,095 | +€300 | +37.7% |
| Other amounts payable | 47/48 | €62,009 | €309,000 | +€246,991 | +398% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,862 | €2,770 | +€908 | +48.8% |
| Other operating charges | 640/8 | €631 | €763 | +€131 | +20.8% |
| Gross operating margin | 9900 | €69,556 | €48,962 | -€20,594 | -29.6% |
| Operating profit (loss) | 9901 | €67,063 | €45,430 | -€21,633 | -32.3% |
| Financial income | 75/76B | €146 | €111 | -€34 | -23.6% |
| Recurring financial income | 75 | €146 | €111 | -€34 | -23.6% |
| Financial charges | 65/66B | €598 | €768 | +€170 | +28.4% |
| Recurring financial charges | 65 | €598 | €768 | +€170 | +28.4% |
| Profit (loss) for the period before taxes | 9903 | €66,610 | €44,773 | -€21,837 | -32.8% |
| Income taxes | 67/77 | €18,291 | €13,324 | -€4,967 | -27.2% |
| Profit (loss) for the period | 9904 | €48,319 | €31,449 | -€16,870 | -34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €48,319 | €31,449 | -€16,870 | -34.9% |
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 15 October 2026 via checked.be.