KENMERCK: 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.
KENMERCK
Largest movements
- Cash +€4,107
up €4,107 (+46.8%), from €8,768 to €12,875
mainly Net result for the year (+€14,299) and Stocks and contracts (+€2,870)
- Stocks and contracts -€2,870
down €2,870 (-10.4%), from €27,568 to €24,698
- Tangible fixed assets -€1,105
down €1,105 (-100.0%), from €1,105 to €0
- Profit (loss) carried forward +€14,299
up €14,299 (+16.0%), from -€89,255 to -€74,956
- Other debts -€8,554
down €8,554 (-13.7%), from €62,531 to €53,977
- Trade debts -€7,155
down €7,155 (-55.5%), from €12,897 to €5,742
- Debts after one year -€3,195
down €3,195 (-17.9%), from €17,879 to €14,684
- Current portion of long-term debt +€2,297
up €2,297 (+41.4%), from €5,548 to €7,845
- Gross operating margin +€5,347
up €5,347 (+22.7%), from €23,527 to €28,874
- Financial charges -€4,522
down €4,522 (-43.0%), from €10,522 to €6,000
- Other operating charges +€1,696
up €1,696 (+24.7%), from €6,879 to €8,575
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 | €37,441 | €37,573 | +€132 | +0.4% |
| Fixed assets | 21/28 | €1,105 | €0 | -€1,105 | -100.0% |
| Tangible fixed assets | 22/27 | €1,105 | €0 | -€1,105 | -100.0% |
| Other tangible fixed assets | 26 | €1,105 | €0 | -€1,105 | -100.0% |
| Current assets | 29/58 | €36,336 | €37,573 | +€1,237 | +3.4% |
| Stocks and contracts in progress | 3 | €27,568 | €24,698 | -€2,870 | -10.4% |
| Stocks | 30/36 | €27,568 | €24,698 | -€2,870 | -10.4% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €8,768 | €12,875 | +€4,107 | +46.8% |
| Total equity and liabilities | 10/49 | €37,441 | €37,573 | +€132 | +0.4% |
| Equity | 10/15 | -€73,855 | -€59,556 | +€14,299 | +19.4% |
| Contributions | 10/11 | €15,400 | €15,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€89,255 | -€74,956 | +€14,299 | +16.0% |
| Amounts payable | 17/49 | €111,296 | €97,129 | -€14,167 | -12.7% |
| Amounts payable after more than one year | 17 | €17,879 | €14,684 | -€3,195 | -17.9% |
| Financial debts | 170/4 | €17,879 | €14,684 | -€3,195 | -17.9% |
| Amounts payable within one year | 42/48 | €93,417 | €82,445 | -€10,972 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €5,548 | €7,845 | +€2,297 | +41.4% |
| Financial debts | 43 | €3,279 | €4,875 | +€1,596 | +48.7% |
| Credit institutions | 430/8 | €3,279 | €4,875 | +€1,596 | +48.7% |
| Trade debts | 44 | €12,897 | €5,742 | -€7,155 | -55.5% |
| Suppliers | 440/4 | €12,897 | €5,742 | -€7,155 | -55.5% |
| Taxes, remuneration and social security | 45 | €9,162 | €10,006 | +€844 | +9.2% |
| Taxes | 450/3 | €6,712 | €5,748 | -€964 | -14.4% |
| Remuneration and social security | 454/9 | €2,450 | €4,258 | +€1,808 | +73.8% |
| Other amounts payable | 47/48 | €62,531 | €53,977 | -€8,554 | -13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €6,879 | €8,575 | +€1,696 | +24.7% |
| Gross operating margin | 9900 | €23,527 | €28,874 | +€5,347 | +22.7% |
| Operating profit (loss) | 9901 | €16,648 | €20,299 | +€3,651 | +21.9% |
| Financial charges | 65/66B | €10,522 | €6,000 | -€4,522 | -43.0% |
| Recurring financial charges | 65 | €10,522 | €6,000 | -€4,522 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €6,126 | €14,299 | +€8,173 | +133.4% |
| Profit (loss) for the period | 9904 | €6,126 | €14,299 | +€8,173 | +133.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,126 | €14,299 | +€8,173 | +133.4% |
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 11 October 2026 via checked.be.