KENSACO: 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.
KENSACO
Largest movements
- Receivables within one year -€441,983
down €441,983 (-62.0%), from €712,922 to €270,939
of which Trade receivables: -€587,922
- Tangible fixed assets +€345,224
up €345,224 (+18.2%), from €1.9m to €2.2m
of which Land and buildings: +€341,803
- Receivables after one year -€125,000
down €125,000 (-16.7%), from €750,000 to €625,000
- Cash -€70,354
down €70,354 (-55.8%), from €126,110 to €55,756
mainly Investment in fixed assets (net) (-€448,624) and Other debts (-€285,819)
- Other debts -€285,819
down €285,819 (-83.6%), from €341,819 to €56,000
- Debts after one year -€190,252
down €190,252 (-10.7%), from €1.8m to €1.6m
of which Financial debts: -€154,688
- Reserves +€95,072
up €95,072 (+9.1%), from €1.0m to €1.1m
of which Distributable reserves: +€100,000
- Financial income -€908,020
down €908,020 (-100.0%), from €908,020 to €0
of which Non-recurring financial income: -€907,158
- Taxes -€78,491
down €78,491 (-60.6%), from €129,491 to €51,000
- Financial charges -€39,810
down €39,810 (-33.0%), from €120,545 to €80,735
of which Non-recurring financial charges: -€34,981
- Depreciation +€17,754
up €17,754 (+20.7%), from €85,646 to €103,400
- Gross operating margin +€8,643
up €8,643 (+2.6%), from €334,016 to €342,659
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,542,133 | €4,246,697 | -€295,436 | -6.5% |
| Fixed assets | 21/28 | €2,949,778 | €3,295,001 | +€345,224 | +11.7% |
| Tangible fixed assets | 22/27 | €1,899,768 | €2,244,991 | +€345,224 | +18.2% |
| Land and buildings | 22 | €1,821,048 | €2,162,851 | +€341,803 | +18.8% |
| Plant, machinery and equipment | 23 | €11,922 | €10,050 | -€1,873 | -15.7% |
| Furniture and vehicles | 24 | €66,797 | €72,091 | +€5,294 | +7.9% |
| Financial fixed assets | 28 | €1,050,010 | €1,050,010 | = | 0.0% |
| Current assets | 29/58 | €1,592,355 | €951,696 | -€640,659 | -40.2% |
| Amounts receivable after more than one year | 29 | €750,000 | €625,000 | -€125,000 | -16.7% |
| Other amounts receivable | 291 | €750,000 | €625,000 | -€125,000 | -16.7% |
| Amounts receivable within one year | 40/41 | €712,922 | €270,939 | -€441,983 | -62.0% |
| Trade receivables | 40 | €587,922 | - | -€587,922 | |
| Other amounts receivable | 41 | €125,000 | €270,939 | +€145,939 | +117% |
| Cash at bank and in hand | 54/58 | €126,110 | €55,756 | -€70,354 | -55.8% |
| Deferred charges and accrued income | 490/1 | €3,323 | - | -€3,323 | |
| Total equity and liabilities | 10/49 | €4,542,133 | €4,246,697 | -€295,436 | -6.5% |
| Equity | 10/15 | €1,982,180 | €2,079,837 | +€97,658 | +4.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,048,821 | €1,143,893 | +€95,072 | +9.1% |
| Non-distributable reserves | 130/1 | €39,845 | €39,845 | = | 0.0% |
| Legal reserve | 130 | €39,845 | €39,845 | = | 0.0% |
| Tax-exempt reserves | 132 | €73,989 | €69,061 | -€4,928 | -6.7% |
| Distributable reserves | 133 | €934,987 | €1,034,987 | +€100,000 | +10.7% |
| Profit (loss) carried forward | 14 | €871,359 | €873,944 | +€2,585 | +0.3% |
| Provisions and deferred taxes | 16 | €38,078 | €35,542 | -€2,536 | -6.7% |
| Deferred taxes | 168 | €38,078 | €35,542 | -€2,536 | -6.7% |
| Amounts payable | 17/49 | €2,521,875 | €2,131,318 | -€390,557 | -15.5% |
| Amounts payable after more than one year | 17 | €1,783,553 | €1,593,301 | -€190,252 | -10.7% |
| Financial debts | 170/4 | €1,213,682 | €1,058,994 | -€154,688 | -12.7% |
| Other amounts payable | 178/9 | €569,870 | €534,307 | -€35,564 | -6.2% |
| Amounts payable within one year | 42/48 | €738,322 | €538,017 | -€200,305 | -27.1% |
| Current portion of amounts payable after more than one year | 42 | €261,594 | €279,949 | +€18,355 | +7.0% |
| Trade debts | 44 | €34,610 | €75,768 | +€41,158 | +119% |
| Suppliers | 440/4 | €34,610 | €75,768 | +€41,158 | +119% |
| Taxes, remuneration and social security | 45 | €100,300 | €126,300 | +€26,000 | +25.9% |
| Taxes | 450/3 | €100,300 | €126,300 | +€26,000 | +25.9% |
| Other amounts payable | 47/48 | €341,819 | €56,000 | -€285,819 | -83.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,646 | €103,400 | +€17,754 | +20.7% |
| Other operating charges | 640/8 | €13,196 | €12,402 | -€794 | -6.0% |
| Gross operating margin | 9900 | €334,016 | €342,659 | +€8,643 | +2.6% |
| Operating profit (loss) | 9901 | €235,173 | €226,857 | -€8,316 | -3.5% |
| Financial income | 75/76B | €908,020 | €0 | -€908,020 | -100.0% |
| Recurring financial income | 75 | €862 | €0 | -€862 | -100.0% |
| Non-recurring financial income | 76B | €907,158 | - | -€907,158 | |
| Financial charges | 65/66B | €120,545 | €80,735 | -€39,810 | -33.0% |
| Recurring financial charges | 65 | €85,564 | €80,735 | -€4,829 | -5.6% |
| Non-recurring financial charges | 66B | €34,981 | - | -€34,981 | |
| Profit (loss) for the period before taxes | 9903 | €1,022,648 | €146,122 | -€876,527 | -85.7% |
| Transfer from deferred taxes | 780 | €3,457 | €2,536 | -€921 | -26.6% |
| Income taxes | 67/77 | €129,491 | €51,000 | -€78,491 | -60.6% |
| Profit (loss) for the period | 9904 | €896,614 | €97,658 | -€798,956 | -89.1% |
| Transfer from tax-exempt reserves | 789 | €6,700 | €4,928 | -€1,772 | -26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €903,314 | €102,585 | -€800,729 | -88.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.