KENIDI: 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.
KENIDI
Largest movements
- Stocks and contracts -€134,313
down €134,313 (-19.4%), from €691,677 to €557,364
- Cash -€97,511
down €97,511 (-38.5%), from €253,216 to €155,705
mainly Short-term financial debts (-€150,000) and Receivables within one year (-€85,518)
- Receivables within one year +€85,518
up €85,518 (+156.0%), from €54,814 to €140,332
of which Trade receivables: +€81,890
- Financial fixed assets -€31,134
down €31,134 (-100.0%), from €31,134 to €0
- Tangible fixed assets -€19,373
down €19,373 (-43.3%), from €44,727 to €25,354
of which Furniture and vehicles: -€18,701
- Short-term financial debts -€150,000
down €150,000 (-30.0%), from €500,000 to €350,000
- Reserves -€43,462
down €43,462 (-13.1%), from €330,796 to €287,334
of which Distributable reserves: -€43,462
- Tax, wage and social debts +€35,330
up €35,330 (+79.5%), from €44,447 to €79,777
- Debts after one year -€30,621
down €30,621 (-38.7%), from €79,217 to €48,596
- Gross operating margin +€71,565
up €71,565, from -€9,968 to €61,598
- Financial charges -€15,173
down €15,173 (-35.1%), from €43,197 to €28,025
- Other operating charges +€1,257
up €1,257 (+10.2%), from €12,299 to €13,555
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 | €1,084,933 | €887,145 | -€197,788 | -18.2% |
| Fixed assets | 21/28 | €75,861 | €25,354 | -€50,508 | -66.6% |
| Tangible fixed assets | 22/27 | €44,727 | €25,354 | -€19,373 | -43.3% |
| Land and buildings | 22 | €2,066 | €940 | -€1,125 | -54.5% |
| Plant, machinery and equipment | 23 | €443 | €896 | +€453 | +102.2% |
| Furniture and vehicles | 24 | €42,218 | €23,517 | -€18,701 | -44.3% |
| Financial fixed assets | 28 | €31,134 | €0 | -€31,134 | -100.0% |
| Current assets | 29/58 | €1,009,072 | €861,791 | -€147,281 | -14.6% |
| Stocks and contracts in progress | 3 | €691,677 | €557,364 | -€134,313 | -19.4% |
| Stocks | 30/36 | €691,677 | €557,364 | -€134,313 | -19.4% |
| Amounts receivable within one year | 40/41 | €54,814 | €140,332 | +€85,518 | +156.0% |
| Trade receivables | 40 | €54,033 | €135,923 | +€81,890 | +151.6% |
| Other amounts receivable | 41 | €781 | €4,408 | +€3,627 | +464.5% |
| Cash at bank and in hand | 54/58 | €253,216 | €155,705 | -€97,511 | -38.5% |
| Deferred charges and accrued income | 490/1 | €9,364 | €8,390 | -€974 | -10.4% |
| Total equity and liabilities | 10/49 | €1,084,933 | €887,145 | -€197,788 | -18.2% |
| Equity | 10/15 | €392,296 | €348,834 | -€43,462 | -11.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €330,796 | €287,334 | -€43,462 | -13.1% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,215 | €1,215 | = | 0.0% |
| Distributable reserves | 133 | €323,431 | €279,969 | -€43,462 | -13.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €692,637 | €538,311 | -€154,327 | -22.3% |
| Amounts payable after more than one year | 17 | €79,217 | €48,596 | -€30,621 | -38.7% |
| Financial debts | 170/4 | €79,217 | €48,596 | -€30,621 | -38.7% |
| Amounts payable within one year | 42/48 | €613,420 | €489,714 | -€123,706 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €29,273 | €30,621 | +€1,348 | +4.6% |
| Financial debts | 43 | €500,000 | €350,000 | -€150,000 | -30.0% |
| Credit institutions | 430/8 | €500,000 | €350,000 | -€150,000 | -30.0% |
| Trade debts | 44 | €13,650 | €3,266 | -€10,384 | -76.1% |
| Suppliers | 440/4 | €13,650 | €3,266 | -€10,384 | -76.1% |
| Taxes, remuneration and social security | 45 | €44,447 | €79,777 | +€35,330 | +79.5% |
| Taxes | 450/3 | €44,447 | €79,777 | +€35,330 | +79.5% |
| Other amounts payable | 47/48 | €26,050 | €26,050 | = | 0.0% |
| Non-recurring operating income | 76A | €20,543 | €382 | -€20,161 | -98.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,945 | €15,911 | -€34 | -0.2% |
| Other operating charges | 640/8 | €12,299 | €13,555 | +€1,257 | +10.2% |
| Gross operating margin | 9900 | -€9,968 | €61,598 | +€71,565 | |
| Operating profit (loss) | 9901 | -€38,212 | €32,131 | +€70,343 | |
| Financial income | 75/76B | €65 | €8 | -€57 | -88.1% |
| Recurring financial income | 75 | €65 | €8 | -€57 | -88.1% |
| Financial charges | 65/66B | €43,197 | €28,025 | -€15,173 | -35.1% |
| Recurring financial charges | 65 | €43,197 | €28,025 | -€15,173 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | -€81,344 | €4,115 | +€85,458 | |
| Income taxes | 67/77 | €256 | €594 | +€338 | +132.0% |
| Profit (loss) for the period | 9904 | -€81,600 | €3,521 | +€85,120 | |
| Profit (loss) for the period to be appropriated | 9905 | -€81,600 | €3,521 | +€85,120 |
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 3 October 2026 via checked.be.