KENSULT: 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.
KENSULT
Largest movements
- Current investments +€29,702
new in 2025: €29,702
- Tangible fixed assets -€25,355
down €25,355 (-10.3%), from €247,366 to €222,010
of which Furniture and vehicles: -€12,867
- Receivables within one year +€17,234
up €17,234 (+44.3%), from €38,884 to €56,118
of which Trade receivables: +€21,763
- Deferred charges and accrued income +€14,364
up €14,364 (+88.4%), from €16,254 to €30,618
- Cash -€8,182
down €8,182 (-10.9%), from €75,402 to €67,220
mainly Debts after one year (-€43,779) and Current investments (-€29,702)
- Reserves +€46,521
up €46,521 (+58.6%), from €79,407 to €125,928
of which Distributable reserves: +€46,521
- Debts after one year -€43,779
down €43,779 (-20.8%), from €210,654 to €166,875
- Advances received +€38,980
up €38,980 (+6200.1%), from €629 to €39,609
- Trade debts -€9,318
down €9,318 (-56.3%), from €16,562 to €7,244
- Current portion of long-term debt -€7,405
down €7,405 (-15.7%), from €47,273 to €39,868
- Gross operating margin +€44,278
up €44,278 (+82.9%), from €53,407 to €97,685
- Depreciation +€10,874
up €10,874 (+75.1%), from €14,481 to €25,355
- Taxes +€10,519
up €10,519 (+97.4%), from €10,799 to €21,318
- Financial income +€1,248
up €1,248 (+604.7%), from €206 to €1,454
- Financial charges +€1,031
up €1,031 (+26.2%), from €3,940 to €4,971
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 | €400,096 | €426,652 | +€26,556 | +6.6% |
| Fixed assets | 21/28 | €247,366 | €222,010 | -€25,355 | -10.3% |
| Tangible fixed assets | 22/27 | €247,366 | €222,010 | -€25,355 | -10.3% |
| Land and buildings | 22 | €185,519 | €173,459 | -€12,061 | -6.5% |
| Plant, machinery and equipment | 23 | €1,765 | €1,337 | -€428 | -24.3% |
| Furniture and vehicles | 24 | €60,081 | €47,215 | -€12,867 | -21.4% |
| Current assets | 29/58 | €152,730 | €204,642 | +€51,912 | +34.0% |
| Amounts receivable after more than one year | 29 | €22,190 | €20,982 | -€1,207 | -5.4% |
| Other amounts receivable | 291 | €22,190 | €20,982 | -€1,207 | -5.4% |
| Amounts receivable within one year | 40/41 | €38,884 | €56,118 | +€17,234 | +44.3% |
| Trade receivables | 40 | €34,033 | €55,797 | +€21,763 | +63.9% |
| Other amounts receivable | 41 | €4,851 | €322 | -€4,529 | -93.4% |
| Current investments | 50/53 | - | €29,702 | +€29,702 | |
| Cash at bank and in hand | 54/58 | €75,402 | €67,220 | -€8,182 | -10.9% |
| Deferred charges and accrued income | 490/1 | €16,254 | €30,618 | +€14,364 | +88.4% |
| Total equity and liabilities | 10/49 | €400,096 | €426,652 | +€26,556 | +6.6% |
| Equity | 10/15 | €105,056 | €151,577 | +€46,521 | +44.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €79,407 | €125,928 | +€46,521 | +58.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Other | 1319 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €77,547 | €124,068 | +€46,521 | +60.0% |
| Profit (loss) carried forward | 14 | €19,449 | €19,449 | = | 0.0% |
| Amounts payable | 17/49 | €295,040 | €275,075 | -€19,965 | -6.8% |
| Amounts payable after more than one year | 17 | €210,654 | €166,875 | -€43,779 | -20.8% |
| Financial debts | 170/4 | €210,654 | €166,875 | -€43,779 | -20.8% |
| Amounts payable within one year | 42/48 | €84,386 | €108,200 | +€23,814 | +28.2% |
| Current portion of amounts payable after more than one year | 42 | €47,273 | €39,868 | -€7,405 | -15.7% |
| Financial debts | 43 | - | €4,403 | +€4,403 | |
| Credit institutions | 430/8 | - | €4,403 | +€4,403 | |
| Trade debts | 44 | €16,562 | €7,244 | -€9,318 | -56.3% |
| Suppliers | 440/4 | €16,562 | €7,244 | -€9,318 | -56.3% |
| Advances received on contracts in progress | 46 | €629 | €39,609 | +€38,980 | +6200.1% |
| Taxes, remuneration and social security | 45 | €15,977 | €17,076 | +€1,099 | +6.9% |
| Taxes | 450/3 | €15,977 | €17,076 | +€1,099 | +6.9% |
| Other amounts payable | 47/48 | €3,946 | €0 | -€3,946 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,481 | €25,355 | +€10,874 | +75.1% |
| Other operating charges | 640/8 | €1,088 | €1,603 | +€515 | +47.3% |
| Non-recurring operating charges | 66A | €0 | -€629 | -€629 | |
| Gross operating margin | 9900 | €53,407 | €97,685 | +€44,278 | +82.9% |
| Operating profit (loss) | 9901 | €37,837 | €71,355 | +€33,518 | +88.6% |
| Financial income | 75/76B | €206 | €1,454 | +€1,248 | +604.7% |
| Recurring financial income | 75 | €206 | €1,454 | +€1,248 | +604.7% |
| Financial charges | 65/66B | €3,940 | €4,971 | +€1,031 | +26.2% |
| Recurring financial charges | 65 | €3,940 | €4,971 | +€1,031 | +26.2% |
| Profit (loss) for the period before taxes | 9903 | €34,104 | €67,839 | +€33,735 | +98.9% |
| Income taxes | 67/77 | €10,799 | €21,318 | +€10,519 | +97.4% |
| Profit (loss) for the period | 9904 | €23,305 | €46,521 | +€23,216 | +99.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,305 | €46,521 | +€23,216 | +99.6% |
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 30 September 2026 via checked.be.