KENBAT: 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.
What changed
KENBAT
NACE 68.310, Real estate agency activities
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€707,151
2024 · -€637,532-€69,618
Equity
-€635,317
2024 · €71,834-€707,151
Cash
€138,949
2024 · €249,098-€110,149
Balance sheet total
€14.0m
2024 · €14.8m-€826,225
Largest movements
Assets
- Tangible fixed assets -€650,819
down €650,819 (-5.1%), from €12.8m to €12.2m
of which Land and buildings: -€483,854
Equity and liabilities
- Debts after one year -€4.6m
down €4.6m (-39.5%), from €11.7m to €7.1m
- Other debts +€4.6m
up €4.6m (+193.2%), from €2.4m to €6.9m
- Profit (loss) carried forward -€643,865
down €643,865 (-52.5%), from -€1.2m to -€1.9m
Income statement
- Gross operating margin -€35,632
down €35,632 (-4.9%), from €720,942 to €685,310
- Financial charges +€29,319
up €29,319 (+4.6%), from €637,189 to €666,507
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.
Result 2024
-€637,532
Gross operating margin
-€35,632
Depreciation
-€4,376
Other operating charges
-€1,504
Financial income
+€1,212
Financial charges
-€29,319
Result 2025
-€707,151
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.
From operations
+€4.5m
Investment
-€42,310
Financing
-€4.6m
Cash 2024
€249,098
From operations (derived)
+€4.5m
Net result for the year
-€707,151
Depreciation
+€693,129
Receivables within one year
+€65,262
Smaller working-capital items
+€644
Provisions
-€21,095
Trade debts
-€15,958
Other debts
+€4.6m
Accrued charges and deferred income
-€53,765
Investment (derived)
-€42,310
Investment in fixed assets (net)
-€42,310
Financing
-€4.6m
Debts after one year
-€4.6m
Current portion of long-term debt
+€31,947
Cash 2025
€138,949
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,825,710 | €13,999,486 | -€826,225 | -5.6% |
| Fixed assets | 21/28 | €12,818,563 | €12,167,744 | -€650,819 | -5.1% |
| Tangible fixed assets | 22/27 | €12,818,563 | €12,167,744 | -€650,819 | -5.1% |
| Land and buildings | 22 | €12,160,392 | €11,676,538 | -€483,854 | -4.0% |
| Plant, machinery and equipment | 23 | €119,810 | €125,154 | +€5,344 | +4.5% |
| Furniture and vehicles | 24 | €538,360 | €366,052 | -€172,309 | -32.0% |
| Current assets | 29/58 | €2,007,148 | €1,831,742 | -€175,406 | -8.7% |
| Stocks and contracts in progress | 3 | €1,538,870 | €1,538,870 | = | 0.0% |
| Stocks | 30/36 | €1,538,870 | €1,538,870 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €218,614 | €153,352 | -€65,262 | -29.9% |
| Trade receivables | 40 | €205,921 | €144,196 | -€61,725 | -30.0% |
| Other amounts receivable | 41 | €12,693 | €9,156 | -€3,537 | -27.9% |
| Cash at bank and in hand | 54/58 | €249,098 | €138,949 | -€110,149 | -44.2% |
| Deferred charges and accrued income | 490/1 | €566 | €571 | +€5 | +0.9% |
| Total equity and liabilities | 10/49 | €14,825,710 | €13,999,486 | -€826,225 | -5.6% |
| Equity | 10/15 | €71,834 | -€635,317 | -€707,151 | |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Reserves | 13 | €1,149,139 | €1,085,853 | -€63,286 | -5.5% |
| Non-distributable reserves | 130/1 | €14,874 | €14,874 | = | 0.0% |
| Legal reserve | 130 | €14,874 | €14,874 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,133,768 | €1,070,482 | -€63,286 | -5.6% |
| Distributable reserves | 133 | €498 | €498 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,226,041 | -€1,869,906 | -€643,865 | -52.5% |
| Provisions and deferred taxes | 16 | €377,923 | €356,827 | -€21,095 | -5.6% |
| Deferred taxes | 168 | €377,923 | €356,827 | -€21,095 | -5.6% |
| Amounts payable | 17/49 | €14,375,954 | €14,277,976 | -€97,979 | -0.7% |
| Amounts payable after more than one year | 17 | €11,731,320 | €7,095,249 | -€4.6m | -39.5% |
| Financial debts | 170/4 | €11,731,320 | €7,095,249 | -€4.6m | -39.5% |
| Amounts payable within one year | 42/48 | €2,581,379 | €7,173,237 | +€4.6m | +177.9% |
| Current portion of amounts payable after more than one year | 42 | €136,402 | €168,349 | +€31,947 | +23.4% |
| Trade debts | 44 | €75,966 | €60,008 | -€15,958 | -21.0% |
| Suppliers | 440/4 | €75,966 | €60,008 | -€15,958 | -21.0% |
| Taxes, remuneration and social security | 45 | €1,349 | €1,999 | +€650 | +48.1% |
| Taxes | 450/3 | €1,349 | €1,999 | +€650 | +48.1% |
| Other amounts payable | 47/48 | €2,367,661 | €6,942,880 | +€4.6m | +193.2% |
| Accrued charges and deferred income | 492/3 | €63,255 | €9,490 | -€53,765 | -85.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €688,753 | €693,129 | +€4,376 | +0.6% |
| Other operating charges | 640/8 | €53,629 | €55,132 | +€1,504 | +2.8% |
| Gross operating margin | 9900 | €720,942 | €685,310 | -€35,632 | -4.9% |
| Operating profit (loss) | 9901 | -€21,439 | -€62,951 | -€41,512 | -193.6% |
| Financial income | 75/76B | - | €1,212 | +€1,212 | |
| Recurring financial income | 75 | - | €1,212 | +€1,212 | |
| Financial charges | 65/66B | €637,189 | €666,507 | +€29,319 | +4.6% |
| Recurring financial charges | 65 | €637,189 | €666,507 | +€29,319 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | -€658,628 | -€728,246 | -€69,618 | -10.6% |
| Transfer from deferred taxes | 780 | €21,095 | €21,095 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€637,532 | -€707,151 | -€69,618 | -10.9% |
| Transfer from tax-exempt reserves | 789 | €63,286 | €63,286 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€574,247 | -€643,865 | -€69,618 | -12.1% |
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 12 October 2026 via checked.be.