KENI: 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.
KENI
Largest movements
- Cash -€250,571
down €250,571 (-86.3%), from €290,439 to €39,868
mainly Current investments (-€190,000) and Net result for the year (-€53,586)
- Current investments +€190,000
up €190,000, from €0 to €190,000
- Tangible fixed assets -€6,596
down €6,596 (-4.8%), from €138,074 to €131,479
of which Land and buildings: -€3,437
- Profit (loss) carried forward -€53,586
down €53,586, from €1,320 to -€52,266
- Other debts -€13,531
down €13,531 (-61.1%), from €22,153 to €8,622
- Turnover -€114,000
no longer reported in 2026 (was €114,000)
- Purchases and services -€90,475
no longer reported in 2026 (was €90,475)
- Gross operating margin -€74,350
down €74,350, from €43,252 to -€31,098
- Depreciation -€16,377
down €16,377 (-46.4%), from €35,268 to €18,891
- Financial income -€11,918
down €11,918 (-98.4%), from €12,111 to €193
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €634,148 | €569,369 | -€64,779 | -10.2% |
| Fixed assets | 21/28 | €328,074 | €321,479 | -€6,596 | -2.0% |
| Tangible fixed assets | 22/27 | €138,074 | €131,479 | -€6,596 | -4.8% |
| Land and buildings | 22 | €132,334 | €128,897 | -€3,437 | -2.6% |
| Plant, machinery and equipment | 23 | €223 | €0 | -€223 | -100.0% |
| Furniture and vehicles | 24 | €5,517 | €2,582 | -€2,935 | -53.2% |
| Financial fixed assets | 28 | €190,000 | €190,000 | = | 0.0% |
| Current assets | 29/58 | €306,074 | €247,891 | -€58,183 | -19.0% |
| Amounts receivable within one year | 40/41 | €11,794 | €13,760 | +€1,965 | +16.7% |
| Trade receivables | 40 | €10,890 | €12,610 | +€1,720 | +15.8% |
| Other amounts receivable | 41 | €904 | €1,150 | +€246 | +27.2% |
| Current investments | 50/53 | €0 | €190,000 | +€190,000 | |
| Cash at bank and in hand | 54/58 | €290,439 | €39,868 | -€250,571 | -86.3% |
| Deferred charges and accrued income | 490/1 | €3,841 | €4,263 | +€422 | +11.0% |
| Total equity and liabilities | 10/49 | €634,148 | €569,369 | -€64,779 | -10.2% |
| Equity | 10/15 | €604,718 | €551,132 | -€53,586 | -8.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €584,798 | €584,798 | = | 0.0% |
| Distributable reserves | 133 | €584,798 | €584,798 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,320 | -€52,266 | -€53,586 | |
| Amounts payable | 17/49 | €29,430 | €18,238 | -€11,193 | -38.0% |
| Amounts payable within one year | 42/48 | €29,430 | €18,238 | -€11,193 | -38.0% |
| Trade debts | 44 | €1,724 | €1,666 | -€58 | -3.4% |
| Suppliers | 440/4 | €1,724 | €1,666 | -€58 | -3.4% |
| Taxes, remuneration and social security | 45 | €5,553 | €7,950 | +€2,397 | +43.2% |
| Taxes | 450/3 | €5,553 | €7,950 | +€2,397 | +43.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €22,153 | €8,622 | -€13,531 | -61.1% |
| Turnover | 70 | €114,000 | - | -€114,000 | |
| Non-recurring operating income | 76A | €1,632 | €1,779 | +€147 | +9.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €90,475 | - | -€90,475 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,268 | €18,891 | -€16,377 | -46.4% |
| Other operating charges | 640/8 | €1,556 | €2,329 | +€773 | +49.7% |
| Gross operating margin | 9900 | €43,252 | -€31,098 | -€74,350 | |
| Operating profit (loss) | 9901 | €6,427 | -€52,319 | -€58,746 | |
| Financial income | 75/76B | €12,111 | €193 | -€11,918 | -98.4% |
| Recurring financial income | 75 | €12,111 | €193 | -€11,918 | -98.4% |
| Financial charges | 65/66B | €1,404 | €1,286 | -€118 | -8.4% |
| Recurring financial charges | 65 | €1,404 | €1,286 | -€118 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €17,134 | -€53,413 | -€70,547 | |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €2,696 | €174 | -€2,522 | -93.6% |
| Profit (loss) for the period | 9904 | €14,439 | -€53,586 | -€68,025 | |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €14,439 | -€53,586 | -€68,025 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.