KENENS PETER: 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.
KENENS PETER
Largest movements
- Tangible fixed assets +€32,951
up €32,951 (+716.8%), from €4,597 to €37,549
of which Other tangible fixed assets: +€29,404
- Cash -€26,131
down €26,131 (-20.0%), from €130,682 to €104,551
mainly Investment in fixed assets (net) (-€38,571) and Contributions, distributions and other (-€25,645)
- Receivables within one year -€6,666
down €6,666 (-18.2%), from €36,632 to €29,966
of which Trade receivables: -€6,000
- Trade debts -€2,143
down €2,143 (-39.1%), from €5,477 to €3,334
- Depreciation -€5,902
down €5,902 (-51.2%), from €11,521 to €5,620
- Financial income -€875
no longer reported in 2025 (was €875)
- Taxes +€864
up €864 (+9.5%), from €9,049 to €9,913
- Gross operating margin +€729
up €729 (+1.7%), from €41,946 to €42,675
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 | €173,522 | €172,842 | -€680 | -0.4% |
| Fixed assets | 21/28 | €4,597 | €37,549 | +€32,951 | +716.8% |
| Tangible fixed assets | 22/27 | €4,597 | €37,549 | +€32,951 | +716.8% |
| Plant, machinery and equipment | 23 | €239 | €6,494 | +€6,255 | +2618.3% |
| Furniture and vehicles | 24 | €4,358 | €1,651 | -€2,708 | -62.1% |
| Other tangible fixed assets | 26 | - | €29,404 | +€29,404 | |
| Current assets | 29/58 | €168,924 | €135,293 | -€33,631 | -19.9% |
| Amounts receivable within one year | 40/41 | €36,632 | €29,966 | -€6,666 | -18.2% |
| Trade receivables | 40 | €34,775 | €28,775 | -€6,000 | -17.3% |
| Other amounts receivable | 41 | €1,857 | €1,191 | -€666 | -35.9% |
| Cash at bank and in hand | 54/58 | €130,682 | €104,551 | -€26,131 | -20.0% |
| Deferred charges and accrued income | 490/1 | €1,610 | €776 | -€834 | -51.8% |
| Total equity and liabilities | 10/49 | €173,522 | €172,842 | -€680 | -0.4% |
| Equity | 10/15 | €161,836 | €162,651 | +€816 | +0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €143,236 | €144,051 | +€816 | +0.6% |
| Distributable reserves | 133 | €143,236 | €144,051 | +€816 | +0.6% |
| Amounts payable | 17/49 | €11,686 | €10,191 | -€1,495 | -12.8% |
| Amounts payable within one year | 42/48 | €11,640 | €10,138 | -€1,502 | -12.9% |
| Trade debts | 44 | €5,477 | €3,334 | -€2,143 | -39.1% |
| Suppliers | 440/4 | €5,477 | €3,334 | -€2,143 | -39.1% |
| Taxes, remuneration and social security | 45 | €5,908 | €6,804 | +€896 | +15.2% |
| Taxes | 450/3 | €2,187 | €3,061 | +€874 | +40.0% |
| Remuneration and social security | 454/9 | €3,721 | €3,743 | +€22 | +0.6% |
| Other amounts payable | 47/48 | €255 | - | -€255 | |
| Accrued charges and deferred income | 492/3 | €46 | €52 | +€7 | +14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,521 | €5,620 | -€5,902 | -51.2% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €41,946 | €42,675 | +€729 | +1.7% |
| Operating profit (loss) | 9901 | €29,975 | €36,593 | +€6,618 | +22.1% |
| Financial income | 75/76B | €875 | - | -€875 | |
| Recurring financial income | 75 | €875 | - | -€875 | |
| Financial charges | 65/66B | €243 | €220 | -€23 | -9.5% |
| Recurring financial charges | 65 | €243 | €220 | -€23 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €30,607 | €36,374 | +€5,766 | +18.8% |
| Income taxes | 67/77 | €9,049 | €9,913 | +€864 | +9.5% |
| Profit (loss) for the period | 9904 | €21,558 | €26,461 | +€4,903 | +22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,558 | €26,461 | +€4,903 | +22.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.