kenoconstruct: 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.
kenoconstruct
Largest movements
- Receivables within one year +€40,477
up €40,477 (+200.6%), from €20,177 to €60,654
of which Trade receivables: +€25,033
- Cash +€32,125
up €32,125 (+93.9%), from €34,230 to €66,355
mainly Debts after one year (+€24,142) and Trade debts (+€23,613)
- Tangible fixed assets -€10,342
down €10,342 (-15.8%), from €65,347 to €55,005
of which Leasing and similar rights: -€8,587
- Debts after one year +€24,142
up €24,142 (+81.9%), from €29,461 to €53,603
- Trade debts +€23,613
up €23,613 (+354.8%), from €6,655 to €30,268
- Current portion of long-term debt +€10,679
up €10,679 (+71.2%), from €14,998 to €25,677
- Reserves +€2,548
up €2,548 (+6.0%), from €42,587 to €45,135
- Staff costs +€75,978
up €75,978 (+1024.8%), from €7,414 to €83,392
- Gross operating margin +€64,277
up €64,277 (+123.4%), from €52,109 to €116,386
- Taxes -€2,930
down €2,930 (-67.8%), from €4,323 to €1,393
- Financial charges +€1,940
up €1,940 (+43.0%), from €4,513 to €6,453
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 | €122,112 | €184,282 | +€62,170 | +50.9% |
| Fixed assets | 21/28 | €65,347 | €55,005 | -€10,342 | -15.8% |
| Tangible fixed assets | 22/27 | €65,347 | €55,005 | -€10,342 | -15.8% |
| Plant, machinery and equipment | 23 | €14,056 | €14,283 | +€227 | +1.6% |
| Furniture and vehicles | 24 | €3,544 | €1,562 | -€1,982 | -55.9% |
| Leasing and similar rights | 25 | €47,747 | €39,160 | -€8,587 | -18.0% |
| Current assets | 29/58 | €56,765 | €129,277 | +€72,512 | +127.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €20,177 | €60,654 | +€40,477 | +200.6% |
| Trade receivables | 40 | €8,986 | €34,019 | +€25,033 | +278.6% |
| Other amounts receivable | 41 | €11,191 | €26,635 | +€15,444 | +138.0% |
| Cash at bank and in hand | 54/58 | €34,230 | €66,355 | +€32,125 | +93.9% |
| Deferred charges and accrued income | 490/1 | €2,358 | €2,268 | -€90 | -3.8% |
| Total equity and liabilities | 10/49 | €122,112 | €184,282 | +€62,170 | +50.9% |
| Equity | 10/15 | €43,587 | €46,135 | +€2,548 | +5.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €42,587 | €45,135 | +€2,548 | +6.0% |
| Distributable reserves | 133 | €42,587 | €45,135 | +€2,548 | +6.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €78,525 | €138,147 | +€59,622 | +75.9% |
| Amounts payable after more than one year | 17 | €29,461 | €53,603 | +€24,142 | +81.9% |
| Financial debts | 170/4 | €29,461 | €53,603 | +€24,142 | +81.9% |
| Amounts payable within one year | 42/48 | €49,064 | €84,544 | +€35,480 | +72.3% |
| Current portion of amounts payable after more than one year | 42 | €14,998 | €25,677 | +€10,679 | +71.2% |
| Trade debts | 44 | €6,655 | €30,268 | +€23,613 | +354.8% |
| Suppliers | 440/4 | €6,655 | €30,268 | +€23,613 | +354.8% |
| Taxes, remuneration and social security | 45 | €6,722 | €8,446 | +€1,724 | +25.6% |
| Taxes | 450/3 | €6,722 | €3,793 | -€2,929 | -43.6% |
| Remuneration and social security | 454/9 | €0 | €4,653 | +€4,653 | |
| Other amounts payable | 47/48 | €20,689 | €20,153 | -€536 | -2.6% |
| Remuneration, social security and pensions | 62 | €7,414 | €83,392 | +€75,978 | +1024.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,361 | €22,485 | +€1,124 | +5.3% |
| Other operating charges | 640/8 | €924 | €409 | -€515 | -55.7% |
| Gross operating margin | 9900 | €52,109 | €116,386 | +€64,277 | +123.4% |
| Operating profit (loss) | 9901 | €22,410 | €10,100 | -€12,310 | -54.9% |
| Financial income | 75/76B | €295 | €294 | -€1 | -0.3% |
| Recurring financial income | 75 | €295 | €294 | -€1 | -0.3% |
| Financial charges | 65/66B | €4,513 | €6,453 | +€1,940 | +43.0% |
| Recurring financial charges | 65 | €4,513 | €6,453 | +€1,940 | +43.0% |
| Profit (loss) for the period before taxes | 9903 | €18,192 | €3,941 | -€14,251 | -78.3% |
| Income taxes | 67/77 | €4,323 | €1,393 | -€2,930 | -67.8% |
| Profit (loss) for the period | 9904 | €13,869 | €2,548 | -€11,321 | -81.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,869 | €2,548 | -€11,321 | -81.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.