KENNEDY HUNTER: 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.
KENNEDY HUNTER
Largest movements
- Receivables within one year -€963,852
down €963,852 (-41.7%), from €2.3m to €1.3m
of which Other amounts receivable: -€735,049
- Deferred charges and accrued income -€469,247
down €469,247 (-39.0%), from €1.2m to €734,881
- Cash -€138,732
down €138,732 (-15.3%), from €904,189 to €765,457
mainly Net result for the year (-€1.3m) and Trade debts (-€963,853)
- Financial fixed assets -€60,000
down €60,000 (-68.1%), from €88,114 to €28,114
- Profit (loss) carried forward -€1.3m
down €1.3m, from €52,728 to -€1.3m
- Trade debts -€963,853
down €963,853 (-27.4%), from €3.5m to €2.6m
- Provisions +€954,050
new in 2022: €954,050
- Other debts -€200,706
down €200,706 (-58.2%), from €345,000 to €144,294
- Tax, wage and social debts -€80,339
down €80,339 (-44.3%), from €181,185 to €100,846
of which Taxes: -€51,912
- Staff costs +€883,074
up €883,074 (+71.7%), from €1.2m to €2.1m
- Gross operating margin -€648,160
down €648,160 (-43.9%), from €1.5m to €826,950
- Financial income +€17,126
up €17,126 (+240%), from €7,131 to €24,257
From the 2021 result to the 2022 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.
Derived cash bridge
Derived from the 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,537,305 | €2,873,944 | -€1.7m | -36.7% |
| Fixed assets | 21/28 | €118,365 | €28,114 | -€90,251 | -76.2% |
| Tangible fixed assets | 22/27 | €30,251 | - | -€30,251 | |
| Furniture and vehicles | 24 | €27,049 | - | -€27,049 | |
| Other tangible fixed assets | 26 | €3,202 | - | -€3,202 | |
| Financial fixed assets | 28 | €88,114 | €28,114 | -€60,000 | -68.1% |
| Current assets | 29/58 | €4,418,940 | €2,845,830 | -€1.6m | -35.6% |
| Amounts receivable within one year | 40/41 | €2,309,343 | €1,345,491 | -€963,852 | -41.7% |
| Trade receivables | 40 | €1,563,800 | €1,334,997 | -€228,803 | -14.6% |
| Other amounts receivable | 41 | €745,543 | €10,494 | -€735,049 | -98.6% |
| Current investments | 50/53 | €1,278 | - | -€1,278 | |
| Cash at bank and in hand | 54/58 | €904,189 | €765,457 | -€138,732 | -15.3% |
| Deferred charges and accrued income | 490/1 | €1,204,129 | €734,881 | -€469,247 | -39.0% |
| Total equity and liabilities | 10/49 | €4,537,305 | €2,873,944 | -€1.7m | -36.7% |
| Equity | 10/15 | €330,291 | -€986,770 | -€1.3m | |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €27,563 | €27,563 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €2,563 | €2,563 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,728 | -€1,264,333 | -€1.3m | |
| Provisions and deferred taxes | 16 | - | €954,050 | +€954,050 | |
| Provisions for liabilities and charges | 160/5 | - | €954,050 | +€954,050 | |
| Pensions and similar obligations | 160 | - | €954,050 | +€954,050 | |
| Amounts payable | 17/49 | €4,207,014 | €2,906,664 | -€1.3m | -30.9% |
| Amounts payable within one year | 42/48 | €4,043,067 | €2,798,169 | -€1.2m | -30.8% |
| Trade debts | 44 | €3,516,882 | €2,553,029 | -€963,853 | -27.4% |
| Suppliers | 440/4 | €3,516,882 | €2,553,029 | -€963,853 | -27.4% |
| Taxes, remuneration and social security | 45 | €181,185 | €100,846 | -€80,339 | -44.3% |
| Taxes | 450/3 | €52,488 | €576 | -€51,912 | -98.9% |
| Remuneration and social security | 454/9 | €128,697 | €100,270 | -€28,427 | -22.1% |
| Other amounts payable | 47/48 | €345,000 | €144,294 | -€200,706 | -58.2% |
| Accrued charges and deferred income | 492/3 | €163,947 | €108,495 | -€55,452 | -33.8% |
| Non-recurring operating income | 76A | €687,779 | €153,288 | -€534,492 | -77.7% |
| Remuneration, social security and pensions | 62 | €1,231,670 | €2,114,745 | +€883,074 | +71.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,097 | €30,251 | +€11,154 | +58.4% |
| Other operating charges | 640/8 | €8,666 | €6,768 | -€1,898 | -21.9% |
| Non-recurring operating charges | 66A | €24,219 | - | -€24,219 | |
| Gross operating margin | 9900 | €1,475,110 | €826,950 | -€648,160 | -43.9% |
| Operating profit (loss) | 9901 | €191,457 | -€1,324,814 | -€1.5m | |
| Financial income | 75/76B | €7,131 | €24,257 | +€17,126 | +240% |
| Recurring financial income | 75 | €7,131 | €24,257 | +€17,126 | +240% |
| Financial charges | 65/66B | €1,711 | €15,534 | +€13,823 | +808% |
| Recurring financial charges | 65 | €1,711 | €15,534 | +€13,823 | +808% |
| Profit (loss) for the period before taxes | 9903 | €196,877 | -€1,316,091 | -€1.5m | |
| Income taxes | 67/77 | €12,904 | €970 | -€11,934 | -92.5% |
| Profit (loss) for the period | 9904 | €183,973 | -€1,317,061 | -€1.5m | |
| Profit (loss) for the period to be appropriated | 9905 | €183,973 | -€1,317,061 | -€1.5m |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.