KENA GROUP: 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.
KENA GROUP
Largest movements
- Receivables within one year -€24,472
down €24,472 (-16.1%), from €151,616 to €127,144
of which Trade receivables: -€39,917
- Tangible fixed assets +€10,951
up €10,951 (+13.4%), from €81,771 to €92,722
of which Furniture and vehicles: +€13,320
- Current portion of long-term debt -€31,811
down €31,811 (-100%), from €31,811 to €0
- Short-term financial debts +€17,215
up €17,215 (+708%), from €2,433 to €19,648
- Tax, wage and social debts +€14,730
up €14,730 (+84.6%), from €17,416 to €32,146
of which Remuneration and social security: +€11,311
- Reserves -€9,099
down €9,099 (-16.7%), from €54,586 to €45,487
of which Distributable reserves: -€9,099
- Advances received -€4,547
down €4,547 (-100%), from €4,547 to €0
- Write-downs +€126,704
new in 2025: €126,704
- Gross operating margin +€60,520
up €60,520 (+30.1%), from €200,820 to €261,341
- Staff costs -€56,142
down €56,142 (-41.9%), from €133,915 to €77,772
- Depreciation +€8,859
up €8,859 (+58.4%), from €15,169 to €24,029
- Taxes -€4,888
down €4,888 (-37.9%), from €12,889 to €8,001
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 | €236,318 | €222,797 | -€13,521 | -5.7% |
| Fixed assets | 21/28 | €84,702 | €95,653 | +€10,951 | +12.9% |
| Tangible fixed assets | 22/27 | €81,771 | €92,722 | +€10,951 | +13.4% |
| Land and buildings | 22 | €31,946 | €29,184 | -€2,762 | -8.6% |
| Plant, machinery and equipment | 23 | €17,791 | €18,183 | +€393 | +2.2% |
| Furniture and vehicles | 24 | €32,035 | €45,355 | +€13,320 | +41.6% |
| Financial fixed assets | 28 | €2,931 | €2,931 | = | 0.0% |
| Current assets | 29/58 | €151,616 | €127,144 | -€24,472 | -16.1% |
| Amounts receivable within one year | 40/41 | €151,616 | €127,144 | -€24,472 | -16.1% |
| Trade receivables | 40 | €102,845 | €62,928 | -€39,917 | -38.8% |
| Other amounts receivable | 41 | €48,771 | €64,216 | +€15,445 | +31.7% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €236,318 | €222,797 | -€13,521 | -5.7% |
| Equity | 10/15 | €104,224 | €95,124 | -€9,099 | -8.7% |
| Contributions | 10/11 | €24,800 | €24,800 | = | 0.0% |
| Reserves | 13 | €54,586 | €45,487 | -€9,099 | -16.7% |
| Non-distributable reserves | 130/1 | €3,720 | €3,720 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,720 | €3,720 | = | 0.0% |
| Distributable reserves | 133 | €50,866 | €41,767 | -€9,099 | -17.9% |
| Profit (loss) carried forward | 14 | €24,837 | €24,837 | = | 0.0% |
| Amounts payable | 17/49 | €132,095 | €127,673 | -€4,422 | -3.3% |
| Amounts payable within one year | 42/48 | €132,095 | €127,673 | -€4,422 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €31,811 | €0 | -€31,811 | -100% |
| Financial debts | 43 | €2,433 | €19,648 | +€17,215 | +708% |
| Credit institutions | 430/8 | €2,433 | €19,648 | +€17,215 | +708% |
| Trade debts | 44 | €75,887 | €75,878 | -€9 | 0.0% |
| Suppliers | 440/4 | €75,887 | €75,878 | -€9 | 0.0% |
| Advances received on contracts in progress | 46 | €4,547 | €0 | -€4,547 | -100% |
| Taxes, remuneration and social security | 45 | €17,416 | €32,146 | +€14,730 | +84.6% |
| Taxes | 450/3 | €4,670 | €8,088 | +€3,419 | +73.2% |
| Remuneration and social security | 454/9 | €12,746 | €24,057 | +€11,311 | +88.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €133,915 | €77,772 | -€56,142 | -41.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,169 | €24,029 | +€8,859 | +58.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €126,704 | +€126,704 | |
| Other operating charges | 640/8 | €13,496 | €18,118 | +€4,621 | +34.2% |
| Gross operating margin | 9900 | €200,820 | €261,341 | +€60,520 | +30.1% |
| Operating profit (loss) | 9901 | €38,240 | €14,718 | -€23,522 | -61.5% |
| Financial income | 75/76B | €574 | €2,581 | +€2,007 | +350% |
| Recurring financial income | 75 | €574 | €2,581 | +€2,007 | +350% |
| Financial charges | 65/66B | €3,334 | €3,398 | +€63 | +1.9% |
| Recurring financial charges | 65 | €3,334 | €3,398 | +€63 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €35,480 | €13,901 | -€21,578 | -60.8% |
| Income taxes | 67/77 | €12,889 | €8,001 | -€4,888 | -37.9% |
| Profit (loss) for the period | 9904 | €22,590 | €5,901 | -€16,690 | -73.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,590 | €5,901 | -€16,690 | -73.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.