KAENNO: 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.
KAENNO
Largest movements
- Tangible fixed assets +€530,574
up €530,574 (+247%), from €214,452 to €745,026
of which Other tangible fixed assets: +€496,983
- Cash -€97,156
down €97,156 (-29.2%), from €332,259 to €235,103
mainly Investment in fixed assets (net) (-€657,235) and Net result for the year (-€129,620)
- Receivables within one year +€16,580
up €16,580 (+4.2%), from €396,426 to €413,006
of which Other amounts receivable: +€18,098
- Debts after one year +€399,780
up €399,780 (+4,817%), from €8,299 to €408,079
- Trade debts +€131,803
up €131,803 (+21.7%), from €606,350 to €738,153
- Profit (loss) carried forward -€129,620
down €129,620 (-39.0%), from €332,783 to €203,162
- Current portion of long-term debt +€34,338
up €34,338 (+95.9%), from €35,789 to €70,128
- Gross operating margin -€173,115
down €173,115 (-35.5%), from €487,864 to €314,748
- Staff costs +€28,965
up €28,965 (+11.4%), from €253,369 to €282,334
- Financial charges +€16,511
up €16,511 (+86.3%), from €19,127 to €35,639
- Financial income +€16,333
up €16,333 (+1,100%), from €1,485 to €17,817
- Depreciation +€13,208
up €13,208 (+11.6%), from €113,453 to €126,661
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 | €1,173,291 | €1,611,347 | +€438,057 | +37.3% |
| Fixed assets | 21/28 | €214,452 | €745,026 | +€530,574 | +247% |
| Tangible fixed assets | 22/27 | €214,452 | €745,026 | +€530,574 | +247% |
| Plant, machinery and equipment | 23 | €25,398 | €60,377 | +€34,978 | +138% |
| Furniture and vehicles | 24 | €10,722 | €9,334 | -€1,388 | -12.9% |
| Other tangible fixed assets | 26 | €178,332 | €675,315 | +€496,983 | +279% |
| Current assets | 29/58 | €958,839 | €866,322 | -€92,517 | -9.6% |
| Stocks and contracts in progress | 3 | €210,243 | €200,581 | -€9,662 | -4.6% |
| Stocks | 30/36 | €210,243 | €200,581 | -€9,662 | -4.6% |
| Amounts receivable within one year | 40/41 | €396,426 | €413,006 | +€16,580 | +4.2% |
| Trade receivables | 40 | €23,431 | €21,914 | -€1,518 | -6.5% |
| Other amounts receivable | 41 | €372,995 | €391,093 | +€18,098 | +4.9% |
| Cash at bank and in hand | 54/58 | €332,259 | €235,103 | -€97,156 | -29.2% |
| Deferred charges and accrued income | 490/1 | €19,911 | €17,632 | -€2,279 | -11.4% |
| Total equity and liabilities | 10/49 | €1,173,291 | €1,611,347 | +€438,057 | +37.3% |
| Equity | 10/15 | €474,508 | €344,888 | -€129,620 | -27.3% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €11,725 | €11,725 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,725 | €0 | -€11,725 | -100% |
| Reserves not available under the articles | 1311 | €11,725 | €0 | -€11,725 | -100% |
| Distributable reserves | 133 | - | €11,725 | +€11,725 | |
| Profit (loss) carried forward | 14 | €332,783 | €203,162 | -€129,620 | -39.0% |
| Amounts payable | 17/49 | €698,783 | €1,266,460 | +€567,677 | +81.2% |
| Amounts payable after more than one year | 17 | €8,299 | €408,079 | +€399,780 | +4,817% |
| Financial debts | 170/4 | €8,299 | €408,079 | +€399,780 | +4,817% |
| Amounts payable within one year | 42/48 | €690,484 | €858,381 | +€167,897 | +24.3% |
| Current portion of amounts payable after more than one year | 42 | €35,789 | €70,128 | +€34,338 | +95.9% |
| Trade debts | 44 | €606,350 | €738,153 | +€131,803 | +21.7% |
| Suppliers | 440/4 | €606,350 | €738,153 | +€131,803 | +21.7% |
| Taxes, remuneration and social security | 45 | €45,835 | €50,100 | +€4,265 | +9.3% |
| Taxes | 450/3 | €2,340 | €0 | -€2,340 | -100% |
| Remuneration and social security | 454/9 | €43,495 | €50,100 | +€6,605 | +15.2% |
| Other amounts payable | 47/48 | €2,509 | €0 | -€2,509 | -100% |
| Non-recurring operating income | 76A | €12,210 | - | -€12,210 | |
| Remuneration, social security and pensions | 62 | €253,369 | €282,334 | +€28,965 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,453 | €126,661 | +€13,208 | +11.6% |
| Other operating charges | 640/8 | €12,036 | €14,343 | +€2,307 | +19.2% |
| Non-recurring operating charges | 66A | €8,354 | €1,158 | -€7,196 | -86.1% |
| Gross operating margin | 9900 | €487,864 | €314,748 | -€173,115 | -35.5% |
| Operating profit (loss) | 9901 | €100,651 | -€109,748 | -€210,399 | |
| Financial income | 75/76B | €1,485 | €17,817 | +€16,333 | +1,100% |
| Recurring financial income | 75 | €1,485 | €17,817 | +€16,333 | +1,100% |
| Financial charges | 65/66B | €19,127 | €35,639 | +€16,511 | +86.3% |
| Recurring financial charges | 65 | €19,127 | €35,639 | +€16,511 | +86.3% |
| Profit (loss) for the period before taxes | 9903 | €83,008 | -€127,569 | -€210,578 | |
| Income taxes | 67/77 | €2,340 | €2,051 | -€289 | -12.3% |
| Profit (loss) for the period | 9904 | €80,668 | -€129,620 | -€210,289 | |
| Profit (loss) for the period to be appropriated | 9905 | €80,668 | -€129,620 | -€210,289 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.