Kennes Constructief: 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.
Kennes Constructief
Largest movements
- Receivables within one year -€216,734
down €216,734 (-48.9%), from €442,865 to €226,131
of which Trade receivables: -€220,255
- Stocks and contracts -€56,583
down €56,583 (-100.0%), from €56,583 to €0
- Receivables after one year -€45,000
down €45,000 (-100.0%), from €45,000 to €0
- Tangible fixed assets -€33,293
down €33,293 (-17.1%), from €194,872 to €161,579
of which Leasing and similar rights: -€17,800
- Deferred charges and accrued income +€29,556
up €29,556 (+56.7%), from €52,173 to €81,729
- Other debts +€209,801
new in 2025: €209,801
- Profit (loss) carried forward -€191,437
down €191,437, from €151,748 to -€39,688
- Trade debts -€139,850
down €139,850 (-57.2%), from €244,280 to €104,430
- Debts after one year -€124,508
down €124,508 (-51.3%), from €242,815 to €118,307
- Reserves -€67,059
down €67,059 (-66.6%), from €100,750 to €33,691
of which Distributable reserves: -€65,199
- Gross operating margin -€226,632
down €226,632, from €85,310 to -€141,322
- Depreciation -€17,839
down €17,839 (-34.2%), from €52,196 to €34,358
- Other operating charges -€8,640
down €8,640 (-86.6%), from €9,974 to €1,334
- Taxes -€2,428
down €2,428 (-100.0%), from €2,429 to €0
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 | €801,490 | €490,240 | -€311,249 | -38.8% |
| Fixed assets | 21/28 | €204,397 | €171,104 | -€33,293 | -16.3% |
| Tangible fixed assets | 22/27 | €194,872 | €161,579 | -€33,293 | -17.1% |
| Land and buildings | 22 | €130,111 | €122,029 | -€8,082 | -6.2% |
| Plant, machinery and equipment | 23 | €15,665 | €10,671 | -€4,993 | -31.9% |
| Furniture and vehicles | 24 | €5,840 | €3,422 | -€2,418 | -41.4% |
| Leasing and similar rights | 25 | €43,257 | €25,457 | -€17,800 | -41.1% |
| Financial fixed assets | 28 | €9,525 | €9,525 | = | 0.0% |
| Current assets | 29/58 | €597,093 | €319,137 | -€277,956 | -46.6% |
| Amounts receivable after more than one year | 29 | €45,000 | €0 | -€45,000 | -100.0% |
| Other amounts receivable | 291 | €45,000 | €0 | -€45,000 | -100.0% |
| Stocks and contracts in progress | 3 | €56,583 | €0 | -€56,583 | -100.0% |
| Contracts in progress | 37 | €56,583 | €0 | -€56,583 | -100.0% |
| Amounts receivable within one year | 40/41 | €442,865 | €226,131 | -€216,734 | -48.9% |
| Trade receivables | 40 | €432,055 | €211,799 | -€220,255 | -51.0% |
| Other amounts receivable | 41 | €10,811 | €14,332 | +€3,521 | +32.6% |
| Cash at bank and in hand | 54/58 | €472 | €11,276 | +€10,805 | +2289.9% |
| Deferred charges and accrued income | 490/1 | €52,173 | €81,729 | +€29,556 | +56.7% |
| Total equity and liabilities | 10/49 | €801,490 | €490,240 | -€311,249 | -38.8% |
| Equity | 10/15 | €271,098 | €12,603 | -€258,496 | -95.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €100,750 | €33,691 | -€67,059 | -66.6% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €98,890 | €33,691 | -€65,199 | -65.9% |
| Profit (loss) carried forward | 14 | €151,748 | -€39,688 | -€191,437 | |
| Amounts payable | 17/49 | €530,391 | €477,638 | -€52,754 | -9.9% |
| Amounts payable after more than one year | 17 | €242,815 | €118,307 | -€124,508 | -51.3% |
| Financial debts | 170/4 | €242,815 | €118,307 | -€124,508 | -51.3% |
| Amounts payable within one year | 42/48 | €287,483 | €346,759 | +€59,275 | +20.6% |
| Current portion of amounts payable after more than one year | 42 | €28,488 | €26,183 | -€2,305 | -8.1% |
| Trade debts | 44 | €244,280 | €104,430 | -€139,850 | -57.2% |
| Suppliers | 440/4 | €244,280 | €104,430 | -€139,850 | -57.2% |
| Taxes, remuneration and social security | 45 | €14,716 | €6,344 | -€8,371 | -56.9% |
| Taxes | 450/3 | €11,836 | €5,965 | -€5,871 | -49.6% |
| Remuneration and social security | 454/9 | €2,879 | €379 | -€2,500 | -86.8% |
| Other amounts payable | 47/48 | - | €209,801 | +€209,801 | |
| Accrued charges and deferred income | 492/3 | €94 | €12,572 | +€12,479 | +13332.0% |
| Remuneration, social security and pensions | 62 | €4,026 | €4,310 | +€284 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,196 | €34,358 | -€17,839 | -34.2% |
| Other operating charges | 640/8 | €9,974 | €1,334 | -€8,640 | -86.6% |
| Gross operating margin | 9900 | €85,310 | -€141,322 | -€226,632 | |
| Operating profit (loss) | 9901 | €19,114 | -€181,323 | -€200,438 | |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €9,217 | €10,115 | +€897 | +9.7% |
| Recurring financial charges | 65 | €9,217 | €10,115 | +€897 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €9,897 | -€191,436 | -€201,334 | |
| Income taxes | 67/77 | €2,429 | €0 | -€2,428 | -100.0% |
| Profit (loss) for the period | 9904 | €7,468 | -€191,437 | -€198,905 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,468 | -€191,437 | -€198,905 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.