KENDOE CONSULTING: 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.
KENDOE CONSULTING
Largest movements
- Current investments +€46,500
up €46,500 (+20.1%), from €231,249 to €277,749
- Receivables within one year +€43,243
up €43,243 (+130%), from €33,262 to €76,505
of which Other amounts receivable: +€48,162
- Cash -€30,496
down €30,496 (-17.4%), from €175,228 to €144,732
mainly Other debts (-€76,377) and Current investments (-€46,500)
- Reserves +€122,104
up €122,104 (+24.5%), from €497,535 to €619,638
of which Distributable reserves: +€122,104
- Other debts -€76,377
no longer reported in 2025 (was €76,377)
- Tax, wage and social debts +€11,507
up €11,507 (+58.7%), from €19,618 to €31,125
- Trade debts +€7,646
up €7,646 (+202%), from €3,782 to €11,428
- Gross operating margin -€9,806
down €9,806 (-4.5%), from €215,641 to €205,835
- Financial income +€8,339
up €8,339 (+143%), from €5,816 to €14,155
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 | €611,208 | €674,592 | +€63,383 | +10.4% |
| Fixed assets | 21/28 | €21,383 | €25,516 | +€4,133 | +19.3% |
| Tangible fixed assets | 22/27 | €21,383 | €25,516 | +€4,133 | +19.3% |
| Plant, machinery and equipment | 23 | €1,500 | €473 | -€1,028 | -68.5% |
| Furniture and vehicles | 24 | €3,234 | €11,049 | +€7,815 | +242% |
| Other tangible fixed assets | 26 | €16,649 | €13,995 | -€2,654 | -15.9% |
| Current assets | 29/58 | €589,825 | €649,075 | +€59,250 | +10.0% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 291 | €150,000 | €150,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €33,262 | €76,505 | +€43,243 | +130% |
| Trade receivables | 40 | €33,014 | €28,095 | -€4,919 | -14.9% |
| Other amounts receivable | 41 | €248 | €48,410 | +€48,162 | +19,455% |
| Current investments | 50/53 | €231,249 | €277,749 | +€46,500 | +20.1% |
| Cash at bank and in hand | 54/58 | €175,228 | €144,732 | -€30,496 | -17.4% |
| Deferred charges and accrued income | 490/1 | €87 | €90 | +€3 | +3.3% |
| Total equity and liabilities | 10/49 | €611,208 | €674,592 | +€63,383 | +10.4% |
| Equity | 10/15 | €509,935 | €632,038 | +€122,104 | +23.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €497,535 | €619,638 | +€122,104 | +24.5% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €158 | €158 | = | 0.0% |
| Distributable reserves | 133 | €495,522 | €617,626 | +€122,104 | +24.6% |
| Amounts payable | 17/49 | €101,274 | €42,553 | -€58,720 | -58.0% |
| Amounts payable within one year | 42/48 | €99,777 | €42,553 | -€57,223 | -57.4% |
| Trade debts | 44 | €3,782 | €11,428 | +€7,646 | +202% |
| Suppliers | 440/4 | €3,782 | €11,428 | +€7,646 | +202% |
| Taxes, remuneration and social security | 45 | €19,618 | €31,125 | +€11,507 | +58.7% |
| Taxes | 450/3 | €19,618 | €31,125 | +€11,507 | +58.7% |
| Other amounts payable | 47/48 | €76,377 | - | -€76,377 | |
| Accrued charges and deferred income | 492/3 | €1,497 | - | -€1,497 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,817 | €4,787 | -€30 | -0.6% |
| Other operating charges | 640/8 | €893 | €724 | -€170 | -19.0% |
| Gross operating margin | 9900 | €215,641 | €205,835 | -€9,806 | -4.5% |
| Operating profit (loss) | 9901 | €209,931 | €200,324 | -€9,607 | -4.6% |
| Financial income | 75/76B | €5,816 | €14,155 | +€8,339 | +143% |
| Recurring financial income | 75 | €5,816 | €14,155 | +€8,339 | +143% |
| Financial charges | 65/66B | €636 | €359 | -€277 | -43.6% |
| Recurring financial charges | 65 | €636 | €359 | -€277 | -43.6% |
| Profit (loss) for the period before taxes | 9903 | €215,111 | €214,120 | -€991 | -0.5% |
| Income taxes | 67/77 | €65,997 | €65,279 | -€718 | -1.1% |
| Profit (loss) for the period | 9904 | €149,114 | €148,842 | -€273 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €149,114 | €148,842 | -€273 | -0.2% |
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 31 October 2026 via checked.be.