KENMIDES: 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.
KENMIDES
Largest movements
- Receivables within one year +€976,483
up €976,483 (+63565.6%), from €1,536 to €978,019
- Cash -€26,929
down €26,929 (-96.7%), from €27,861 to €932
mainly Receivables within one year (-€976,483) and Debts after one year (-€273,480)
- Short-term financial debts +€800,000
new in 2025: €800,000
- Reserves +€373,780
up €373,780 (+47.8%), from €781,893 to €1.2m
of which Tax-exempt reserves: +€366,033
- Debts after one year -€273,480
down €273,480 (-100.0%), from €273,480 to €0
- Provisions +€122,011
up €122,011, from €0 to €122,011
- Current portion of long-term debt -€70,443
down €70,443 (-100.0%), from €70,443 to €0
- Gross operating margin +€457,751
up €457,751 (+276.5%), from €165,559 to €623,310
- Taxes -€232,339
down €232,339 (-98.9%), from €234,921 to €2,582
- Depreciation -€45,682
down €45,682 (-32.3%), from €141,594 to €95,912
- Financial charges -€27,336
down €27,336 (-62.8%), from €43,499 to €16,163
- Other operating charges -€6,447
down €6,447 (-33.4%), from €19,310 to €12,862
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 | €1,460,130 | €2,426,336 | +€966,207 | +66.2% |
| Fixed assets | 21/28 | €1,429,199 | €1,446,928 | +€17,729 | +1.2% |
| Tangible fixed assets | 22/27 | €1,429,000 | €1,446,729 | +€17,729 | +1.2% |
| Land and buildings | 22 | €881,928 | €1,446,729 | +€564,801 | +64.0% |
| Plant, machinery and equipment | 23 | €546,918 | €0 | -€546,918 | -100.0% |
| Furniture and vehicles | 24 | €154 | €0 | -€154 | -100.0% |
| Financial fixed assets | 28 | €199 | €199 | = | 0.0% |
| Current assets | 29/58 | €30,930 | €979,408 | +€948,478 | +3066.5% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,536 | €978,019 | +€976,483 | +63565.6% |
| Other amounts receivable | 41 | €1,536 | €978,019 | +€976,483 | +63565.6% |
| Cash at bank and in hand | 54/58 | €27,861 | €932 | -€26,929 | -96.7% |
| Deferred charges and accrued income | 490/1 | €1,534 | €458 | -€1,076 | -70.2% |
| Total equity and liabilities | 10/49 | €1,460,130 | €2,426,336 | +€966,207 | +66.2% |
| Equity | 10/15 | €843,867 | €1,217,646 | +€373,780 | +44.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €781,893 | €1,155,673 | +€373,780 | +47.8% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | €366,033 | +€366,033 | |
| Distributable reserves | 133 | €775,696 | €783,442 | +€7,746 | +1.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €0 | €122,011 | +€122,011 | |
| Deferred taxes | 168 | €0 | €122,011 | +€122,011 | |
| Amounts payable | 17/49 | €616,263 | €1,086,679 | +€470,416 | +76.3% |
| Amounts payable after more than one year | 17 | €273,480 | €0 | -€273,480 | -100.0% |
| Financial debts | 170/4 | €273,480 | €0 | -€273,480 | -100.0% |
| Amounts payable within one year | 42/48 | €342,783 | €1,086,679 | +€743,896 | +217.0% |
| Current portion of amounts payable after more than one year | 42 | €70,443 | €0 | -€70,443 | -100.0% |
| Financial debts | 43 | - | €800,000 | +€800,000 | |
| Credit institutions | 430/8 | - | €800,000 | +€800,000 | |
| Trade debts | 44 | €34,157 | €82,449 | +€48,292 | +141.4% |
| Suppliers | 440/4 | €34,157 | €82,449 | +€48,292 | +141.4% |
| Taxes, remuneration and social security | 45 | €235,853 | €195,603 | -€40,250 | -17.1% |
| Taxes | 450/3 | €235,853 | €195,603 | -€40,250 | -17.1% |
| Other amounts payable | 47/48 | €2,331 | €8,627 | +€6,297 | +270.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €488,045 | +€488,045 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,594 | €95,912 | -€45,682 | -32.3% |
| Other operating charges | 640/8 | €19,310 | €12,862 | -€6,447 | -33.4% |
| Non-recurring operating charges | 66A | €5,454 | €0 | -€5,454 | -100.0% |
| Gross operating margin | 9900 | €165,559 | €623,310 | +€457,751 | +276.5% |
| Operating profit (loss) | 9901 | -€798 | €514,536 | +€515,334 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €43,499 | €16,163 | -€27,336 | -62.8% |
| Recurring financial charges | 65 | €43,499 | €16,163 | -€27,336 | -62.8% |
| Profit (loss) for the period before taxes | 9903 | -€44,297 | €498,373 | +€542,670 | |
| Transfer from deferred taxes | 780 | €189,269 | €0 | -€189,269 | -100.0% |
| Transfer to deferred taxes | 680 | - | €122,011 | +€122,011 | |
| Income taxes | 67/77 | €234,921 | €2,582 | -€232,339 | -98.9% |
| Profit (loss) for the period | 9904 | -€89,949 | €373,780 | +€463,729 | |
| Transfer from tax-exempt reserves | 789 | €757,078 | €0 | -€757,078 | -100.0% |
| Transfer to tax-exempt reserves | 689 | - | €366,033 | +€366,033 | |
| Profit (loss) for the period to be appropriated | 9905 | €667,129 | €7,746 | -€659,383 | -98.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.