Kenon: 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.
Kenon
Largest movements
- Receivables within one year +€4,458
up €4,458 (+530.6%), from €840 to €5,298
of which Trade receivables: +€4,392
- Cash +€3,593
up €3,593 (+532.5%), from €675 to €4,267
mainly Tax, wage and social debts (+€3,088) and Net result for the year (+€2,892)
- Tax, wage and social debts +€3,088
new in 2025: €3,088
- Profit (loss) carried forward +€2,892
up €2,892 (+34.1%), from -€8,485 to -€5,593
- Trade debts +€2,071
new in 2025: €2,071
- Gross operating margin +€12,029
up €12,029, from -€7,930 to €4,099
- Other operating charges +€450
up €450 (+81.0%), from €555 to €1,005
- Financial charges +€222
new in 2025: €222
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 | €1,515 | €9,565 | +€8,050 | +531.4% |
| Current assets | 29/58 | €1,515 | €9,565 | +€8,050 | +531.4% |
| Amounts receivable within one year | 40/41 | €840 | €5,298 | +€4,458 | +530.6% |
| Trade receivables | 40 | €236 | €4,628 | +€4,392 | +1861.5% |
| Other amounts receivable | 41 | €604 | €669 | +€65 | +10.8% |
| Cash at bank and in hand | 54/58 | €675 | €4,267 | +€3,593 | +532.5% |
| Total equity and liabilities | 10/49 | €1,515 | €9,565 | +€8,050 | +531.4% |
| Equity | 10/15 | €1,515 | €4,407 | +€2,892 | +190.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Outside capital | 11 | €10,000 | - | -€10,000 | |
| Other | 1109/19 | €10,000 | - | -€10,000 | |
| Profit (loss) carried forward | 14 | -€8,485 | -€5,593 | +€2,892 | +34.1% |
| Amounts payable | 17/49 | - | €5,159 | +€5,159 | |
| Amounts payable within one year | 42/48 | - | €5,159 | +€5,159 | |
| Trade debts | 44 | - | €2,071 | +€2,071 | |
| Suppliers | 440/4 | - | €2,071 | +€2,071 | |
| Taxes, remuneration and social security | 45 | - | €3,088 | +€3,088 | |
| Taxes | 450/3 | - | €3,088 | +€3,088 | |
| Other operating charges | 640/8 | €555 | €1,005 | +€450 | +81.0% |
| Gross operating margin | 9900 | -€7,930 | €4,099 | +€12,029 | |
| Operating profit (loss) | 9901 | -€8,485 | €3,093 | +€11,578 | |
| Financial income | 75/76B | - | €20 | +€20 | |
| Recurring financial income | 75 | - | €20 | +€20 | |
| Financial charges | 65/66B | - | €222 | +€222 | |
| Recurring financial charges | 65 | - | €222 | +€222 | |
| Profit (loss) for the period before taxes | 9903 | -€8,485 | €2,892 | +€11,377 | |
| Profit (loss) for the period | 9904 | -€8,485 | €2,892 | +€11,377 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,485 | €2,892 | +€11,377 |
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 8 October 2026 via checked.be.