KENDREM: what changed
Two fiscal 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.
KENDREM
Largest movements
- Tangible fixed assets -€4,423
down €4,423 (-2.8%), from €155,461 to €151,039
- Profit (loss) carried forward -€9,273
down €9,273 (-2.4%), from -€378,992 to -€388,265
- Other debts +€4,400
up €4,400 (+3.0%), from €144,874 to €149,274
- Gross operating margin +€3,755
up €3,755 (+66.6%), from -€5,642 to -€1,887
- Depreciation +€475
up €475 (+7.9%), from €5,983 to €6,458
- Other operating charges +€83
up €83 (+13.0%), from €637 to €721
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €216,830 | €211,345 | -€5,485 | -2.5% |
| Fixed assets | 21/28 | €165,461 | €161,039 | -€4,423 | -2.7% |
| Tangible fixed assets | 22/27 | €155,461 | €151,039 | -€4,423 | -2.8% |
| Land and buildings | 22 | €155,461 | €151,039 | -€4,423 | -2.8% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €51,368 | €50,306 | -€1,062 | -2.1% |
| Amounts receivable within one year | 40/41 | €49,455 | €49,450 | -€5 | 0.0% |
| Other amounts receivable | 41 | €49,455 | €49,450 | -€5 | 0.0% |
| Cash at bank and in hand | 54/58 | €1,913 | €856 | -€1,057 | -55.2% |
| Total equity and liabilities | 10/49 | €216,830 | €211,345 | -€5,485 | -2.5% |
| Equity | 10/15 | -€254,992 | -€264,265 | -€9,273 | -3.6% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€378,992 | -€388,265 | -€9,273 | -2.4% |
| Amounts payable | 17/49 | €471,822 | €475,610 | +€3,789 | +0.8% |
| Amounts payable after more than one year | 17 | €326,429 | €325,229 | -€1,200 | -0.4% |
| Financial debts | 170/4 | €325,229 | €325,229 | = | 0.0% |
| Other amounts payable | 178/9 | €1,200 | €0 | -€1,200 | -100.0% |
| Amounts payable within one year | 42/48 | €145,393 | €150,382 | +€4,989 | +3.4% |
| Trade debts | 44 | €519 | €1,108 | +€589 | +113.4% |
| Suppliers | 440/4 | €519 | €1,108 | +€589 | +113.4% |
| Other amounts payable | 47/48 | €144,874 | €149,274 | +€4,400 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,983 | €6,458 | +€475 | +7.9% |
| Other operating charges | 640/8 | €637 | €721 | +€83 | +13.0% |
| Gross operating margin | 9900 | -€5,642 | -€1,887 | +€3,755 | +66.6% |
| Operating profit (loss) | 9901 | -€12,262 | -€9,065 | +€3,197 | +26.1% |
| Financial income | 75/76B | €17 | €5 | -€12 | -70.8% |
| Recurring financial income | 75 | €17 | €5 | -€12 | -70.8% |
| Financial charges | 65/66B | €158 | €211 | +€53 | +33.4% |
| Recurring financial charges | 65 | €158 | €211 | +€53 | +33.4% |
| Profit (loss) for the period before taxes | 9903 | -€12,404 | -€9,272 | +€3,132 | +25.3% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€12,404 | -€9,273 | +€3,131 | +25.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,404 | -€9,273 | +€3,131 | +25.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.