Kenza Mode: 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.
Kenza Mode
Largest movements
- Stocks and contracts -€41,554
down €41,554 (-35.2%), from €117,892 to €76,339
- Cash +€29,693
up €29,693 (+12.2%), from €242,681 to €272,375
mainly Other debts (+€92,340) and Net result for the year (+€75,200)
- Receivables within one year -€12,486
down €12,486 (-43.6%), from €28,625 to €16,140
of which Trade receivables: -€11,201
- Tangible fixed assets -€9,113
down €9,113 (-2.5%), from €371,346 to €362,233
of which Other tangible fixed assets: -€12,070
- Other debts +€92,340
up €92,340 (+136%), from €67,774 to €160,115
- Debts after one year -€71,967
down €71,967 (-28.3%), from €254,488 to €182,521
of which Other amounts payable: -€50,000
- Reserves -€24,800
down €24,800 (-11.4%), from €218,050 to €193,251
- Trade debts -€22,903
down €22,903 (-60.4%), from €37,927 to €15,024
- Gross operating margin -€19,109
down €19,109 (-6.2%), from €309,462 to €290,354
- Financial charges +€7,712
up €7,712 (+31.4%), from €24,535 to €32,247
of which Non-recurring financial charges: +€10,072
- Financial income -€3,446
down €3,446 (-99.6%), from €3,460 to €14
of which Non-recurring financial income: -€3,065
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 | €766,616 | €733,404 | -€33,212 | -4.3% |
| Fixed assets | 21/28 | €371,660 | €362,450 | -€9,211 | -2.5% |
| Intangible fixed assets | 21 | €314 | €217 | -€98 | -31.1% |
| Tangible fixed assets | 22/27 | €371,346 | €362,233 | -€9,113 | -2.5% |
| Land and buildings | 22 | €227,041 | €221,222 | -€5,818 | -2.6% |
| Plant, machinery and equipment | 23 | €27,163 | €37,996 | +€10,833 | +39.9% |
| Furniture and vehicles | 24 | €10,655 | €8,598 | -€2,058 | -19.3% |
| Other tangible fixed assets | 26 | €106,488 | €94,418 | -€12,070 | -11.3% |
| Current assets | 29/58 | €394,956 | €370,954 | -€24,002 | -6.1% |
| Stocks and contracts in progress | 3 | €117,892 | €76,339 | -€41,554 | -35.2% |
| Stocks | 30/36 | €117,892 | €76,339 | -€41,554 | -35.2% |
| Amounts receivable within one year | 40/41 | €28,625 | €16,140 | -€12,486 | -43.6% |
| Trade receivables | 40 | €27,340 | €16,140 | -€11,201 | -41.0% |
| Other amounts receivable | 41 | €1,285 | - | -€1,285 | |
| Cash at bank and in hand | 54/58 | €242,681 | €272,375 | +€29,693 | +12.2% |
| Deferred charges and accrued income | 490/1 | €5,757 | €6,101 | +€344 | +6.0% |
| Total equity and liabilities | 10/49 | €766,616 | €733,404 | -€33,212 | -4.3% |
| Equity | 10/15 | €238,050 | €213,251 | -€24,800 | -10.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €218,050 | €193,251 | -€24,800 | -11.4% |
| Distributable reserves | 133 | €218,050 | €193,251 | -€24,800 | -11.4% |
| Amounts payable | 17/49 | €528,566 | €520,153 | -€8,413 | -1.6% |
| Amounts payable after more than one year | 17 | €254,488 | €182,521 | -€71,967 | -28.3% |
| Financial debts | 170/4 | €204,488 | €182,521 | -€21,967 | -10.7% |
| Other amounts payable | 178/9 | €50,000 | - | -€50,000 | |
| Amounts payable within one year | 42/48 | €272,530 | €336,084 | +€63,554 | +23.3% |
| Current portion of amounts payable after more than one year | 42 | €20,993 | €21,967 | +€974 | +4.6% |
| Trade debts | 44 | €37,927 | €15,024 | -€22,903 | -60.4% |
| Suppliers | 440/4 | €37,927 | €15,024 | -€22,903 | -60.4% |
| Taxes, remuneration and social security | 45 | €145,836 | €138,979 | -€6,857 | -4.7% |
| Taxes | 450/3 | €113,457 | €109,214 | -€4,244 | -3.7% |
| Remuneration and social security | 454/9 | €32,379 | €29,765 | -€2,614 | -8.1% |
| Other amounts payable | 47/48 | €67,774 | €160,115 | +€92,340 | +136% |
| Accrued charges and deferred income | 492/3 | €1,548 | €1,548 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €117,742 | €120,044 | +€2,302 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,652 | €27,318 | +€2,666 | +10.8% |
| Other operating charges | 640/8 | €5,528 | €4,625 | -€903 | -16.3% |
| Non-recurring operating charges | 66A | €1,253 | - | -€1,253 | |
| Gross operating margin | 9900 | €309,462 | €290,354 | -€19,109 | -6.2% |
| Operating profit (loss) | 9901 | €160,287 | €138,366 | -€21,921 | -13.7% |
| Financial income | 75/76B | €3,460 | €14 | -€3,446 | -99.6% |
| Recurring financial income | 75 | €395 | €14 | -€381 | -96.5% |
| Non-recurring financial income | 76B | €3,065 | - | -€3,065 | |
| Financial charges | 65/66B | €24,535 | €32,247 | +€7,712 | +31.4% |
| Recurring financial charges | 65 | €18,614 | €16,255 | -€2,359 | -12.7% |
| Non-recurring financial charges | 66B | €5,921 | €15,992 | +€10,072 | +170% |
| Profit (loss) for the period before taxes | 9903 | €139,212 | €106,133 | -€33,079 | -23.8% |
| Income taxes | 67/77 | €31,401 | €30,932 | -€469 | -1.5% |
| Profit (loss) for the period | 9904 | €107,810 | €75,200 | -€32,610 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €107,810 | €75,200 | -€32,610 | -30.2% |
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 13 October 2026 via checked.be.