KENSINGTON: 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.
KENSINGTON
Largest movements
- Cash +€93,817
up €93,817 (+2,861%), from €3,279 to €97,095
mainly Net result for the year (+€70,095) and Accrued charges and deferred income (+€55,000)
- Receivables within one year +€93,604
up €93,604 (+63.6%), from €147,076 to €240,680
of which Trade receivables: +€77,572
- Tangible fixed assets -€44,844
down €44,844 (-18.3%), from €244,482 to €199,638
of which Land and buildings: -€62,918
- Deferred charges and accrued income -€6,529
down €6,529 (-44.2%), from €14,776 to €8,246
- Reserves +€70,095
up €70,095 (+28.0%), from €250,423 to €320,517
of which Distributable reserves: +€92,507
- Debts after one year -€60,689
down €60,689 (-72.2%), from €84,115 to €23,426
- Accrued charges and deferred income +€55,000
new in 2025: €55,000
- Tax, wage and social debts +€45,594
up €45,594 (+444%), from €10,269 to €55,863
of which Taxes: +€45,714
- Trade debts +€28,148
up €28,148 (+139%), from €20,266 to €48,414
- Gross operating margin +€70,240
up €70,240 (+90.3%), from €77,773 to €148,012
- Taxes +€33,280
up €33,280 (+327%), from €10,186 to €43,466
- Depreciation -€20,535
down €20,535 (-41.7%), from €49,248 to €28,713
- Staff costs +€3,961
up €3,961 (+127%), from €3,121 to €7,082
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.
Derived cash bridge
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 | €414,321 | €548,612 | +€134,291 | +32.4% |
| Fixed assets | 21/28 | €246,491 | €199,890 | -€46,601 | -18.9% |
| Intangible fixed assets | 21 | €2,009 | €252 | -€1,757 | -87.4% |
| Tangible fixed assets | 22/27 | €244,482 | €199,638 | -€44,844 | -18.3% |
| Land and buildings | 22 | €235,020 | €172,102 | -€62,918 | -26.8% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €9,462 | €27,536 | +€18,074 | +191% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €167,831 | €348,722 | +€180,891 | +108% |
| Amounts receivable within one year | 40/41 | €147,076 | €240,680 | +€93,604 | +63.6% |
| Trade receivables | 40 | €46,851 | €124,423 | +€77,572 | +166% |
| Other amounts receivable | 41 | €100,225 | €116,257 | +€16,032 | +16.0% |
| Current investments | 50/53 | €2,700 | €2,700 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,279 | €97,095 | +€93,817 | +2,861% |
| Deferred charges and accrued income | 490/1 | €14,776 | €8,246 | -€6,529 | -44.2% |
| Total equity and liabilities | 10/49 | €414,321 | €548,612 | +€134,291 | +32.4% |
| Equity | 10/15 | €257,860 | €327,954 | +€70,095 | +27.2% |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Reserves | 13 | €250,423 | €320,517 | +€70,095 | +28.0% |
| Tax-exempt reserves | 132 | €58,052 | €35,640 | -€22,412 | -38.6% |
| Distributable reserves | 133 | €192,371 | €284,878 | +€92,507 | +48.1% |
| Provisions and deferred taxes | 16 | €19,351 | €9,775 | -€9,575 | -49.5% |
| Deferred taxes | 168 | €19,351 | €9,775 | -€9,575 | -49.5% |
| Amounts payable | 17/49 | €137,111 | €210,883 | +€73,771 | +53.8% |
| Amounts payable after more than one year | 17 | €84,115 | €23,426 | -€60,689 | -72.2% |
| Financial debts | 170/4 | €84,115 | €23,426 | -€60,689 | -72.2% |
| Amounts payable within one year | 42/48 | €52,996 | €132,457 | +€79,461 | +150% |
| Current portion of amounts payable after more than one year | 42 | €22,461 | €20,740 | -€1,721 | -7.7% |
| Financial debts | 43 | - | €3,373 | +€3,373 | |
| Credit institutions | 430/8 | - | €3,373 | +€3,373 | |
| Trade debts | 44 | €20,266 | €48,414 | +€28,148 | +139% |
| Suppliers | 440/4 | €20,266 | €48,414 | +€28,148 | +139% |
| Taxes, remuneration and social security | 45 | €10,269 | €55,863 | +€45,594 | +444% |
| Taxes | 450/3 | €10,149 | €55,863 | +€45,714 | +450% |
| Remuneration and social security | 454/9 | €120 | €0 | -€120 | -100% |
| Other amounts payable | 47/48 | - | €4,067 | +€4,067 | |
| Accrued charges and deferred income | 492/3 | - | €55,000 | +€55,000 | |
| Non-recurring operating income | 76A | - | €79,991 | +€79,991 | |
| Remuneration, social security and pensions | 62 | €3,121 | €7,082 | +€3,961 | +127% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,248 | €28,713 | -€20,535 | -41.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €3,159 | €3,713 | +€554 | +17.5% |
| Gross operating margin | 9900 | €77,773 | €148,012 | +€70,240 | +90.3% |
| Operating profit (loss) | 9901 | €22,245 | €108,504 | +€86,259 | +388% |
| Financial income | 75/76B | €5,249 | €5,240 | -€9 | -0.2% |
| Recurring financial income | 75 | €5,249 | €5,240 | -€9 | -0.2% |
| Financial charges | 65/66B | €8,906 | €9,759 | +€852 | +9.6% |
| Recurring financial charges | 65 | €8,906 | €9,759 | +€852 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €18,587 | €103,986 | +€85,398 | +459% |
| Transfer from deferred taxes | 780 | €3,133 | €9,575 | +€6,442 | +206% |
| Income taxes | 67/77 | €10,186 | €43,466 | +€33,280 | +327% |
| Profit (loss) for the period | 9904 | €11,534 | €70,095 | +€58,561 | +508% |
| Transfer from tax-exempt reserves | 789 | €9,398 | €22,412 | +€13,014 | +138% |
| Profit (loss) for the period to be appropriated | 9905 | €20,932 | €92,507 | +€71,575 | +342% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.