Kenis: 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.
What changed
Kenis
NACE 46.610, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€219,264
2024 · €64,476+€154,788
Equity
€2.4m
2024 · €2.2m+€219,264
Cash
€106,258
2024 · €77,316+€28,942
Balance sheet total
€14.2m
2024 · €11.6m+€2.6m
Largest movements
Assets
- Receivables within one year +€2.8m
up €2.8m (+104%), from €2.6m to €5.4m
of which Trade receivables: +€2.8m
Equity and liabilities
- Advances received +€1.3m
up €1.3m (+196%), from €677,031 to €2.0m
- Trade debts +€933,840
up €933,840 (+24.3%), from €3.9m to €4.8m
- Tax, wage and social debts +€587,399
up €587,399 (+79.9%), from €735,522 to €1.3m
of which Taxes: +€576,347
- Debts after one year -€329,505
down €329,505 (-13.9%), from €2.4m to €2.0m
- Reserves +€219,264
up €219,264 (+10.2%), from €2.2m to €2.4m
of which Distributable reserves: +€219,264
Income statement
- Goods and materials -€225,932
down €225,932 (-2.2%), from €10.4m to €10.1m
of which Purchases: -€1.3m
- Staff costs +€130,368
up €130,368 (+14.3%), from €914,508 to €1.0m
- Turnover +€130,102
up €130,102 (+1.0%), from €12.5m to €12.6m
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.
Result 2024
€64,476
Turnover
+€130,102
Other operating income
+€36,032
Goods and materials
+€225,932
Services and other goods
+€12,294
Staff costs
-€130,368
Depreciation
-€101,810
Write-downs
+€11,271
Other operating charges
+€5,832
Other operating items
+€43,080
Financial income
-€1,569
Financial charges
-€9,715
Taxes
-€66,294
Result 2025
€219,264
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€701,408
Investment
-€246,357
Financing
-€426,109
Cash 2024
€77,316
From operations (derived)
+€701,408
Net result for the year
+€219,264
Depreciation
+€370,872
Receivables after one year
-€51,521
Stocks and contracts
+€80,343
Receivables within one year
-€2.8m
Deferred charges and accrued income
-€837
Trade debts
+€933,840
Tax, wage and social debts
+€587,399
Advances received
+€1.3m
Accrued charges and deferred income
-€7,111
Investment (derived)
-€246,357
Investment in fixed assets (net)
-€246,357
Financing
-€426,109
Debts after one year
-€329,505
Current portion of long-term debt
-€35,220
Short-term financial debts
-€61,385
Cash 2025
€106,258
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,587,002 | €14,219,153 | +€2.6m | +22.7% |
| Fixed assets | 21/28 | €2,487,814 | €2,363,299 | -€124,515 | -5.0% |
| Intangible fixed assets | 21 | €146 | €0 | -€146 | -100% |
| Tangible fixed assets | 22/27 | €2,460,233 | €2,335,864 | -€124,369 | -5.1% |
| Land and buildings | 22 | €1,638,735 | €1,525,115 | -€113,619 | -6.9% |
| Plant, machinery and equipment | 23 | €188,980 | €350,080 | +€161,101 | +85.2% |
| Furniture and vehicles | 24 | €73,053 | €52,028 | -€21,025 | -28.8% |
| Leasing and similar rights | 25 | €559,466 | €408,640 | -€150,825 | -27.0% |
| Financial fixed assets | 28 | €27,435 | €27,435 | = | 0.0% |
| Other financial fixed assets | 284/8 | €27,435 | €27,435 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €27,435 | €27,435 | = | 0.0% |
| Current assets | 29/58 | €9,099,188 | €11,855,854 | +€2.8m | +30.3% |
| Amounts receivable after more than one year | 29 | €848,146 | €899,667 | +€51,521 | +6.1% |
| Other amounts receivable | 291 | €848,146 | €899,667 | +€51,521 | +6.1% |
| Stocks and contracts in progress | 3 | €5,508,742 | €5,428,399 | -€80,343 | -1.5% |
| Stocks | 30/36 | €5,508,742 | €5,428,399 | -€80,343 | -1.5% |
| Goods purchased for resale | 34 | €5,508,742 | €5,428,399 | -€80,343 | -1.5% |
| Amounts receivable within one year | 40/41 | €2,644,033 | €5,399,743 | +€2.8m | +104% |
| Trade receivables | 40 | €2,555,927 | €5,394,789 | +€2.8m | +111% |
| Other amounts receivable | 41 | €88,107 | €4,954 | -€83,153 | -94.4% |
| Cash at bank and in hand | 54/58 | €77,316 | €106,258 | +€28,942 | +37.4% |
| Deferred charges and accrued income | 490/1 | €20,951 | €21,788 | +€837 | +4.0% |
| Total equity and liabilities | 10/49 | €11,587,002 | €14,219,153 | +€2.6m | +22.7% |
| Equity | 10/15 | €2,217,760 | €2,437,023 | +€219,264 | +9.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,155,760 | €2,375,023 | +€219,264 | +10.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €2,149,560 | €2,368,823 | +€219,264 | +10.2% |
| Amounts payable | 17/49 | €9,369,242 | €11,782,130 | +€2.4m | +25.8% |
| Amounts payable after more than one year | 17 | €2,366,847 | €2,037,342 | -€329,505 | -13.9% |
| Financial debts | 170/4 | €2,366,847 | €2,037,342 | -€329,505 | -13.9% |
| Leasing and similar obligations | 172 | €415,389 | €351,133 | -€64,256 | -15.5% |
| Credit institutions | 173 | €1,298,307 | €1,042,483 | -€255,824 | -19.7% |
| Other loans | 174 | €653,150 | €643,726 | -€9,424 | -1.4% |
| Amounts payable within one year | 42/48 | €6,949,276 | €9,698,779 | +€2.7m | +39.6% |
| Current portion of amounts payable after more than one year | 42 | €346,382 | €311,163 | -€35,220 | -10.2% |
| Financial debts | 43 | €1,339,825 | €1,278,440 | -€61,385 | -4.6% |
| Credit institutions | 430/8 | €1,339,825 | €1,278,440 | -€61,385 | -4.6% |
| Trade debts | 44 | €3,850,516 | €4,784,356 | +€933,840 | +24.3% |
| Suppliers | 440/4 | €3,850,516 | €4,784,356 | +€933,840 | +24.3% |
| Advances received on contracts in progress | 46 | €677,031 | €2,001,900 | +€1.3m | +196% |
| Taxes, remuneration and social security | 45 | €735,522 | €1,322,921 | +€587,399 | +79.9% |
| Taxes | 450/3 | €563,682 | €1,140,029 | +€576,347 | +102% |
| Remuneration and social security | 454/9 | €171,840 | €182,892 | +€11,052 | +6.4% |
| Accrued charges and deferred income | 492/3 | €53,120 | €46,008 | -€7,111 | -13.4% |
| Operating income | 70/76A | €12,613,841 | €12,823,056 | +€209,215 | +1.7% |
| Turnover | 70 | €12,507,617 | €12,637,720 | +€130,102 | +1.0% |
| Other operating income | 74 | €93,230 | €129,262 | +€36,032 | +38.6% |
| Non-recurring operating income | 76A | €12,994 | €56,074 | +€43,080 | +332% |
| Operating charges | 60/66A | €12,333,735 | €12,310,584 | -€23,151 | -0.2% |
| Goods for resale, raw materials and consumables | 60 | €10,370,198 | €10,144,265 | -€225,932 | -2.2% |
| Purchases | 600/8 | €11,405,018 | €10,081,803 | -€1.3m | -11.6% |
| Change in stocks: decrease (increase) | 609 | -€1,034,820 | €62,462 | +€1.1m | |
| Services and other goods | 61 | €710,061 | €697,767 | -€12,294 | -1.7% |
| Remuneration, social security and pensions | 62 | €914,508 | €1,044,877 | +€130,368 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €269,063 | €370,872 | +€101,810 | +37.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,902 | €6,631 | -€11,271 | -63.0% |
| Other operating charges | 640/8 | €52,004 | €46,172 | -€5,832 | -11.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €280,106 | €512,472 | +€232,366 | +83.0% |
| Financial income | 75/76B | €24,216 | €22,647 | -€1,569 | -6.5% |
| Recurring financial income | 75 | €24,216 | €22,647 | -€1,569 | -6.5% |
| Income from current assets | 751 | €20,951 | €21,509 | +€558 | +2.7% |
| Other financial income | 752/9 | €3,266 | €1,138 | -€2,128 | -65.2% |
| Financial charges | 65/66B | €203,992 | €213,707 | +€9,715 | +4.8% |
| Recurring financial charges | 65 | €203,992 | €213,707 | +€9,715 | +4.8% |
| Debt charges | 650 | €193,535 | €189,411 | -€4,124 | -2.1% |
| Other financial charges | 652/9 | €10,456 | €24,296 | +€13,840 | +132% |
| Profit (loss) for the period before taxes | 9903 | €100,330 | €321,412 | +€221,081 | +220% |
| Income taxes | 67/77 | €35,854 | €102,148 | +€66,294 | +185% |
| Taxes | 670/3 | €35,854 | €102,148 | +€66,294 | +185% |
| Profit (loss) for the period | 9904 | €64,476 | €219,264 | +€154,788 | +240% |
| Profit (loss) for the period to be appropriated | 9905 | €64,476 | €219,264 | +€154,788 | +240% |
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 19 October 2026 via checked.be.