KENNY&MASON: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
KENNY&MASON
Largest movements
- Cash +€212,165
up €212,165 (+777%), from €27,323 to €239,488
mainly Receivables within one year (+€159,452) and Net result for the year (+€41,567)
- Receivables within one year -€159,452
down €159,452 (-30.4%), from €523,839 to €364,387
of which Other amounts receivable: -€91,130
- Tangible fixed assets +€46,406
up €46,406 (+250%), from €18,551 to €64,957
of which Plant, machinery and equipment: +€48,637
- Stocks and contracts -€12,492
down €12,492 (-72.2%), from €17,303 to €4,811
- Reserves +€41,567
up €41,567 (+115%), from €36,224 to €77,791
- Debts after one year +€39,583
up €39,583 (+81.5%), from €48,582 to €88,164
- Tax, wage and social debts +€14,884
up €14,884 (+69.2%), from €21,513 to €36,397
of which Remuneration and social security: +€12,597
- Trade debts -€12,735
down €12,735 (-3.3%), from €381,680 to €368,945
- Other debts -€7,144
down €7,144 (-15.8%), from €45,144 to €37,999
- Staff costs +€49,636
up €49,636 (+46.3%), from €107,271 to €156,907
- Gross operating margin +€10,960
up €10,960 (+5.3%), from €205,543 to €216,503
- Financial income +€4,489
up €4,489 (+80.7%), from €5,562 to €10,051
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 | €593,288 | €676,898 | +€83,610 | +14.1% |
| Fixed assets | 21/28 | €18,551 | €64,957 | +€46,406 | +250% |
| Tangible fixed assets | 22/27 | €18,551 | €64,957 | +€46,406 | +250% |
| Plant, machinery and equipment | 23 | €444 | €49,081 | +€48,637 | +10,949% |
| Furniture and vehicles | 24 | €3,673 | €2,982 | -€692 | -18.8% |
| Other tangible fixed assets | 26 | €14,433 | €5,424 | -€9,010 | -62.4% |
| Assets under construction and advance payments | 27 | - | €7,470 | +€7,470 | |
| Current assets | 29/58 | €574,737 | €611,941 | +€37,204 | +6.5% |
| Stocks and contracts in progress | 3 | €17,303 | €4,811 | -€12,492 | -72.2% |
| Stocks | 30/36 | €17,303 | €4,811 | -€12,492 | -72.2% |
| Amounts receivable within one year | 40/41 | €523,839 | €364,387 | -€159,452 | -30.4% |
| Trade receivables | 40 | €328,202 | €259,880 | -€68,322 | -20.8% |
| Other amounts receivable | 41 | €195,637 | €104,507 | -€91,130 | -46.6% |
| Cash at bank and in hand | 54/58 | €27,323 | €239,488 | +€212,165 | +777% |
| Deferred charges and accrued income | 490/1 | €6,273 | €3,255 | -€3,018 | -48.1% |
| Total equity and liabilities | 10/49 | €593,288 | €676,898 | +€83,610 | +14.1% |
| Equity | 10/15 | €90,758 | €132,325 | +€41,567 | +45.8% |
| Contributions | 10/11 | €54,534 | €54,534 | = | 0.0% |
| Reserves | 13 | €36,224 | €77,791 | +€41,567 | +115% |
| Distributable reserves | 133 | €36,224 | €77,791 | +€41,567 | +115% |
| Amounts payable | 17/49 | €502,530 | €544,573 | +€42,043 | +8.4% |
| Amounts payable after more than one year | 17 | €48,582 | €88,164 | +€39,583 | +81.5% |
| Financial debts | 170/4 | €48,582 | €88,164 | +€39,583 | +81.5% |
| Amounts payable within one year | 42/48 | €453,833 | €455,915 | +€2,082 | +0.5% |
| Current portion of amounts payable after more than one year | 42 | €5,496 | €12,574 | +€7,078 | +129% |
| Trade debts | 44 | €381,680 | €368,945 | -€12,735 | -3.3% |
| Suppliers | 440/4 | €381,680 | €368,945 | -€12,735 | -3.3% |
| Taxes, remuneration and social security | 45 | €21,513 | €36,397 | +€14,884 | +69.2% |
| Taxes | 450/3 | €13,434 | €15,721 | +€2,287 | +17.0% |
| Remuneration and social security | 454/9 | €8,079 | €20,676 | +€12,597 | +156% |
| Other amounts payable | 47/48 | €45,144 | €37,999 | -€7,144 | -15.8% |
| Accrued charges and deferred income | 492/3 | €115 | €493 | +€378 | +328% |
| Non-recurring operating income | 76A | - | €3,268 | +€3,268 | |
| Remuneration, social security and pensions | 62 | €107,271 | €156,907 | +€49,636 | +46.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,099 | €12,035 | +€937 | +8.4% |
| Other operating charges | 640/8 | €654 | €690 | +€36 | +5.6% |
| Gross operating margin | 9900 | €205,543 | €216,503 | +€10,960 | +5.3% |
| Operating profit (loss) | 9901 | €86,520 | €46,871 | -€39,648 | -45.8% |
| Financial income | 75/76B | €5,562 | €10,051 | +€4,489 | +80.7% |
| Recurring financial income | 75 | €5,562 | €10,051 | +€4,489 | +80.7% |
| Financial charges | 65/66B | €2,481 | €2,999 | +€518 | +20.9% |
| Recurring financial charges | 65 | €2,481 | €2,999 | +€518 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | €89,600 | €53,923 | -€35,677 | -39.8% |
| Income taxes | 67/77 | €11,371 | €12,356 | +€985 | +8.7% |
| Profit (loss) for the period | 9904 | €78,229 | €41,567 | -€36,663 | -46.9% |
| Profit (loss) for the period to be appropriated | 9905 | €78,229 | €41,567 | -€36,663 | -46.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.