Kendaroy: 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.
Kendaroy
Largest movements
- Receivables within one year +€32,464
up €32,464 (+4.7%), from €688,310 to €720,775
of which Other amounts receivable: +€31,860
- Cash -€22,138
down €22,138 (-71.2%), from €31,082 to €8,944
mainly Receivables within one year (-€32,464) and Tax, wage and social debts (-€2,611)
- Stocks and contracts -€12,985
down €12,985 (-5.1%), from €252,170 to €239,186
No liability line moved by more than 1% of the balance sheet total.
- Taxes -€1,908
down €1,908 (-46.0%), from €4,149 to €2,241
- Other operating charges -€551
down €551 (-34.2%), from €1,611 to €1,060
- Gross operating margin -€511
down €511 (-65.4%), from -€781 to -€1,292
- Financial income +€143
up €143 (+0.8%), from €17,240 to €17,383
- Financial charges +€81
up €81 (+41.2%), from €196 to €277
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 | €974,601 | €971,979 | -€2,622 | -0.3% |
| Fixed assets | 21/28 | €2,399 | €2,399 | = | 0.0% |
| Tangible fixed assets | 22/27 | €2,399 | €2,399 | = | 0.0% |
| Other tangible fixed assets | 26 | €2,399 | €2,399 | = | 0.0% |
| Current assets | 29/58 | €972,202 | €969,580 | -€2,622 | -0.3% |
| Stocks and contracts in progress | 3 | €252,170 | €239,186 | -€12,985 | -5.1% |
| Stocks | 30/36 | €252,170 | €239,186 | -€12,985 | -5.1% |
| Amounts receivable within one year | 40/41 | €688,310 | €720,775 | +€32,464 | +4.7% |
| Trade receivables | 40 | €5,690 | €6,293 | +€604 | +10.6% |
| Other amounts receivable | 41 | €682,621 | €714,481 | +€31,860 | +4.7% |
| Cash at bank and in hand | 54/58 | €31,082 | €8,944 | -€22,138 | -71.2% |
| Deferred charges and accrued income | 490/1 | €639 | €676 | +€37 | +5.8% |
| Total equity and liabilities | 10/49 | €974,601 | €971,979 | -€2,622 | -0.3% |
| Equity | 10/15 | €542,879 | €547,908 | +€5,029 | +0.9% |
| Contributions | 10/11 | €255,000 | €255,000 | = | 0.0% |
| Capital | 10 | €255,000 | €255,000 | = | 0.0% |
| Issued capital | 100 | €255,000 | €255,000 | = | 0.0% |
| Reserves | 13 | €287,879 | €292,908 | +€5,029 | +1.7% |
| Non-distributable reserves | 130/1 | €25,500 | €25,500 | = | 0.0% |
| Legal reserve | 130 | €25,500 | €25,500 | = | 0.0% |
| Distributable reserves | 133 | €262,379 | €267,408 | +€5,029 | +1.9% |
| Amounts payable | 17/49 | €431,721 | €424,071 | -€7,651 | -1.8% |
| Amounts payable within one year | 42/48 | €400,183 | €392,499 | -€7,684 | -1.9% |
| Trade debts | 44 | €3,120 | €623 | -€2,497 | -80.0% |
| Suppliers | 440/4 | €3,120 | €623 | -€2,497 | -80.0% |
| Taxes, remuneration and social security | 45 | €4,545 | €1,933 | -€2,611 | -57.5% |
| Taxes | 450/3 | €4,545 | €1,933 | -€2,611 | -57.5% |
| Other amounts payable | 47/48 | €392,519 | €389,943 | -€2,576 | -0.7% |
| Accrued charges and deferred income | 492/3 | €31,538 | €31,572 | +€34 | +0.1% |
| Other operating charges | 640/8 | €1,611 | €1,060 | -€551 | -34.2% |
| Non-recurring operating charges | 66A | - | €7,485 | +€7,485 | |
| Gross operating margin | 9900 | -€781 | -€1,292 | -€511 | -65.4% |
| Operating profit (loss) | 9901 | -€2,392 | -€9,836 | -€7,444 | -311% |
| Financial income | 75/76B | €17,240 | €17,383 | +€143 | +0.8% |
| Recurring financial income | 75 | €17,240 | €17,383 | +€143 | +0.8% |
| Financial charges | 65/66B | €196 | €277 | +€81 | +41.2% |
| Recurring financial charges | 65 | €196 | €277 | +€81 | +41.2% |
| Profit (loss) for the period before taxes | 9903 | €14,652 | €7,270 | -€7,382 | -50.4% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €4,149 | €2,241 | -€1,908 | -46.0% |
| Profit (loss) for the period | 9904 | €10,503 | €5,029 | -€5,474 | -52.1% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €10,503 | €5,029 | -€5,474 | -52.1% |
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 24 October 2026 via checked.be.