KENNECTING: what changed
KENNECTING
Largest movements
- Receivables within one year +€81,526
up €81,526 (+229%), from €35,539 to €117,065
- Cash -€71,309
down €71,309 (-82.2%), from €86,767 to €15,459
mainly Receivables within one year (-€81,526) and Accrued charges and deferred income (-€11,207)
- Tangible fixed assets +€6,690
up €6,690 (+715%), from €936 to €7,626
of which Plant, machinery and equipment: +€4,079
- Profit (loss) carried forward +€24,870
up €24,870 (+32.4%), from €76,836 to €101,706
- Accrued charges and deferred income -€11,207
no longer reported in 2025 (was €11,207)
- Tax, wage and social debts +€2,112
up €2,112 (+7.5%), from €28,173 to €30,285
- Gross operating margin -€59,437
down €59,437 (-64.2%), from €92,611 to €33,175
- Taxes -€15,356
down €15,356 (-66.0%), from €23,250 to €7,894
- Financial income +€4,134
new in 2025: €4,134
- Depreciation +€1,012
up €1,012 (+85.9%), from €1,178 to €2,190
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €124,080 | €140,149 | +€16,069 | +13.0% |
| Formation expenses | 20 | €838 | - | -€838 | |
| Fixed assets | 21/28 | €936 | €7,626 | +€6,690 | +715% |
| Tangible fixed assets | 22/27 | €936 | €7,626 | +€6,690 | +715% |
| Land and buildings | 22 | - | €1,878 | +€1,878 | |
| Plant, machinery and equipment | 23 | €936 | €5,015 | +€4,079 | +436% |
| Furniture and vehicles | 24 | - | €733 | +€733 | |
| Current assets | 29/58 | €122,306 | €132,524 | +€10,218 | +8.4% |
| Amounts receivable within one year | 40/41 | €35,539 | €117,065 | +€81,526 | +229% |
| Other amounts receivable | 41 | €35,539 | €117,065 | +€81,526 | +229% |
| Cash at bank and in hand | 54/58 | €86,767 | €15,459 | -€71,309 | -82.2% |
| Total equity and liabilities | 10/49 | €124,080 | €140,149 | +€16,069 | +13.0% |
| Equity | 10/15 | €79,836 | €104,706 | +€24,870 | +31.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,836 | €101,706 | +€24,870 | +32.4% |
| Amounts payable | 17/49 | €44,245 | €35,444 | -€8,801 | -19.9% |
| Amounts payable within one year | 42/48 | €33,038 | €35,444 | +€2,406 | +7.3% |
| Trade debts | 44 | €4,865 | €5,159 | +€294 | +6.0% |
| Suppliers | 440/4 | €4,865 | €5,159 | +€294 | +6.0% |
| Taxes, remuneration and social security | 45 | €28,173 | €30,285 | +€2,112 | +7.5% |
| Taxes | 450/3 | €28,173 | €30,285 | +€2,112 | +7.5% |
| Accrued charges and deferred income | 492/3 | €11,207 | - | -€11,207 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,178 | €2,190 | +€1,012 | +85.9% |
| Other operating charges | 640/8 | €183 | - | -€183 | |
| Gross operating margin | 9900 | €92,611 | €33,175 | -€59,437 | -64.2% |
| Operating profit (loss) | 9901 | €91,250 | €30,984 | -€60,266 | -66.0% |
| Financial income | 75/76B | - | €4,134 | +€4,134 | |
| Recurring financial income | 75 | - | €4,134 | +€4,134 | |
| Financial charges | 65/66B | €1,743 | €2,355 | +€611 | +35.1% |
| Recurring financial charges | 65 | €1,743 | €2,355 | +€611 | +35.1% |
| Profit (loss) for the period before taxes | 9903 | €89,507 | €32,764 | -€56,743 | -63.4% |
| Income taxes | 67/77 | €23,250 | €7,894 | -€15,356 | -66.0% |
| Profit (loss) for the period | 9904 | €66,257 | €24,870 | -€41,387 | -62.5% |
| Profit (loss) for the period to be appropriated | 9905 | €66,257 | €24,870 | -€41,387 | -62.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.