KENZALI: 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.
KENZALI
Largest movements
- Cash +€16,303
up €16,303 (+245%), from €6,645 to €22,949
mainly Trade debts (+€11,532) and Net result for the year (+€4,710)
- Stocks and contracts +€4,701
up €4,701 (+387%), from €1,215 to €5,916
- Tangible fixed assets -€2,050
down €2,050 (-54.5%), from €3,760 to €1,710
of which Plant, machinery and equipment: -€1,500
- Receivables within one year +€1,186
up €1,186 (+34.5%), from €3,439 to €4,624
of which Other amounts receivable: +€1,186
- Trade debts +€11,532
up €11,532 (+2,284%), from €505 to €12,037
- Profit (loss) carried forward +€4,710
up €4,710 (+213%), from €2,214 to €6,923
- Tax, wage and social debts +€1,986
up €1,986 (+123%), from €1,620 to €3,606
- Other debts +€1,913
up €1,913 (+266%), from €720 to €2,633
- Gross operating margin +€2,673
up €2,673 (+63.2%), from €4,230 to €6,903
- Other operating charges -€475
no longer reported in 2025 (was €475)
- Depreciation -€300
down €300 (-12.8%), from €2,350 to €2,050
- Taxes -€276
no longer reported in 2025 (was €276)
- Financial charges +€225
up €225 (+160%), from €140 to €366
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 | €15,059 | €35,199 | +€20,140 | +134% |
| Fixed assets | 21/28 | €3,760 | €1,710 | -€2,050 | -54.5% |
| Tangible fixed assets | 22/27 | €3,760 | €1,710 | -€2,050 | -54.5% |
| Plant, machinery and equipment | 23 | €2,660 | €1,160 | -€1,500 | -56.4% |
| Furniture and vehicles | 24 | €1,100 | €550 | -€550 | -50.0% |
| Current assets | 29/58 | €11,299 | €33,489 | +€22,190 | +196% |
| Stocks and contracts in progress | 3 | €1,215 | €5,916 | +€4,701 | +387% |
| Stocks | 30/36 | €1,215 | €5,916 | +€4,701 | +387% |
| Amounts receivable within one year | 40/41 | €3,439 | €4,624 | +€1,186 | +34.5% |
| Trade receivables | 40 | €3,439 | €3,439 | = | 0.0% |
| Other amounts receivable | 41 | - | €1,186 | +€1,186 | |
| Cash at bank and in hand | 54/58 | €6,645 | €22,949 | +€16,303 | +245% |
| Total equity and liabilities | 10/49 | €15,059 | €35,199 | +€20,140 | +134% |
| Equity | 10/15 | €12,214 | €16,923 | +€4,710 | +38.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,214 | €6,923 | +€4,710 | +213% |
| Amounts payable | 17/49 | €2,845 | €18,276 | +€15,431 | +542% |
| Amounts payable within one year | 42/48 | €2,845 | €18,276 | +€15,431 | +542% |
| Trade debts | 44 | €505 | €12,037 | +€11,532 | +2,284% |
| Suppliers | 440/4 | €505 | €12,037 | +€11,532 | +2,284% |
| Taxes, remuneration and social security | 45 | €1,620 | €3,606 | +€1,986 | +123% |
| Taxes | 450/3 | €1,620 | €3,606 | +€1,986 | +123% |
| Other amounts payable | 47/48 | €720 | €2,633 | +€1,913 | +266% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,350 | €2,050 | -€300 | -12.8% |
| Other operating charges | 640/8 | €475 | - | -€475 | |
| Gross operating margin | 9900 | €4,230 | €6,903 | +€2,673 | +63.2% |
| Operating profit (loss) | 9901 | €1,404 | €4,853 | +€3,449 | +246% |
| Financial income | 75/76B | €77 | €222 | +€145 | +188% |
| Recurring financial income | 75 | €77 | €25 | -€52 | -67.2% |
| Non-recurring financial income | 76B | - | €197 | +€197 | |
| Financial charges | 65/66B | €140 | €366 | +€225 | +160% |
| Recurring financial charges | 65 | €140 | €366 | +€225 | +160% |
| Profit (loss) for the period before taxes | 9903 | €1,341 | €4,710 | +€3,368 | +251% |
| Income taxes | 67/77 | €276 | - | -€276 | |
| Profit (loss) for the period | 9904 | €1,065 | €4,710 | +€3,645 | +342% |
| Profit (loss) for the period to be appropriated | 9905 | €1,065 | €4,710 | +€3,645 | +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 14 October 2026 via checked.be.