KEN-TAX: 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.
KEN-TAX
Largest movements
- Tangible fixed assets +€10,789
up €10,789 (+20.2%), from €53,417 to €64,206
of which Furniture and vehicles: +€13,856
- Receivables within one year -€9,353
down €9,353 (-21.4%), from €43,711 to €34,357
of which Trade receivables: -€4,692
- Cash +€7,104
up €7,104 (+6.8%), from €104,379 to €111,483
mainly Net result for the year (+€22,617) and Depreciation (+€22,139)
- Reserves +€22,617
up €22,617 (+21.4%), from €105,909 to €128,526
- Other debts -€10,671
down €10,671 (-23.8%), from €44,822 to €34,151
- Trade debts -€6,433
down €6,433 (-42.3%), from €15,194 to €8,761
- Debts after one year +€5,465
up €5,465 (+246%), from €2,226 to €7,691
- Gross operating margin +€32,431
up €32,431 (+44.3%), from €73,272 to €105,704
- Staff costs +€7,604
up €7,604 (+21.3%), from €35,732 to €43,336
- Taxes +€6,721
up €6,721 (+135%), from €4,992 to €11,713
- Depreciation +€4,808
up €4,808 (+27.7%), from €17,331 to €22,139
- Other operating charges -€1,876
down €1,876 (-37.6%), from €4,987 to €3,111
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 | €205,960 | €215,411 | +€9,452 | +4.6% |
| Fixed assets | 21/28 | €54,978 | €65,767 | +€10,789 | +19.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €53,417 | €64,206 | +€10,789 | +20.2% |
| Plant, machinery and equipment | 23 | €2,991 | €1,905 | -€1,086 | -36.3% |
| Furniture and vehicles | 24 | €33,361 | €47,217 | +€13,856 | +41.5% |
| Other tangible fixed assets | 26 | €17,065 | €15,084 | -€1,981 | -11.6% |
| Financial fixed assets | 28 | €1,561 | €1,561 | = | 0.0% |
| Current assets | 29/58 | €150,982 | €149,644 | -€1,337 | -0.9% |
| Amounts receivable within one year | 40/41 | €43,711 | €34,357 | -€9,353 | -21.4% |
| Trade receivables | 40 | €35,891 | €31,198 | -€4,692 | -13.1% |
| Other amounts receivable | 41 | €7,820 | €3,159 | -€4,661 | -59.6% |
| Cash at bank and in hand | 54/58 | €104,379 | €111,483 | +€7,104 | +6.8% |
| Deferred charges and accrued income | 490/1 | €2,892 | €3,803 | +€912 | +31.5% |
| Total equity and liabilities | 10/49 | €205,960 | €215,411 | +€9,452 | +4.6% |
| Equity | 10/15 | €124,509 | €147,126 | +€22,617 | +18.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €105,909 | €128,526 | +€22,617 | +21.4% |
| Distributable reserves | 133 | €105,909 | €128,526 | +€22,617 | +21.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €81,450 | €68,285 | -€13,165 | -16.2% |
| Amounts payable after more than one year | 17 | €2,226 | €7,691 | +€5,465 | +246% |
| Financial debts | 170/4 | €2,226 | €7,691 | +€5,465 | +246% |
| Amounts payable within one year | 42/48 | €78,095 | €58,289 | -€19,806 | -25.4% |
| Current portion of amounts payable after more than one year | 42 | €8,637 | €7,140 | -€1,497 | -17.3% |
| Trade debts | 44 | €15,194 | €8,761 | -€6,433 | -42.3% |
| Suppliers | 440/4 | €15,194 | €8,761 | -€6,433 | -42.3% |
| Taxes, remuneration and social security | 45 | €9,442 | €8,238 | -€1,204 | -12.7% |
| Taxes | 450/3 | €2,196 | €2,262 | +€66 | +3.0% |
| Remuneration and social security | 454/9 | €7,246 | €5,976 | -€1,269 | -17.5% |
| Other amounts payable | 47/48 | €44,822 | €34,151 | -€10,671 | -23.8% |
| Accrued charges and deferred income | 492/3 | €1,129 | €2,304 | +€1,175 | +104% |
| Remuneration, social security and pensions | 62 | €35,732 | €43,336 | +€7,604 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,331 | €22,139 | +€4,808 | +27.7% |
| Other operating charges | 640/8 | €4,987 | €3,111 | -€1,876 | -37.6% |
| Gross operating margin | 9900 | €73,272 | €105,704 | +€32,431 | +44.3% |
| Operating profit (loss) | 9901 | €15,222 | €37,118 | +€21,895 | +144% |
| Financial income | 75/76B | €15 | €743 | +€727 | +4,725% |
| Recurring financial income | 75 | €15 | €743 | +€727 | +4,725% |
| Financial charges | 65/66B | €2,128 | €3,530 | +€1,402 | +65.9% |
| Recurring financial charges | 65 | €2,128 | €3,530 | +€1,402 | +65.9% |
| Profit (loss) for the period before taxes | 9903 | €13,110 | €34,330 | +€21,220 | +162% |
| Income taxes | 67/77 | €4,992 | €11,713 | +€6,721 | +135% |
| Profit (loss) for the period | 9904 | €8,118 | €22,617 | +€14,499 | +179% |
| Profit (loss) for the period to be appropriated | 9905 | €8,118 | €22,617 | +€14,499 | +179% |
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 1 November 2026 via checked.be.