KENZE: 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.
KENZE
Largest movements
- Cash +€544,112
up €544,112 (+208.6%), from €260,899 to €805,011
mainly Trade debts (+€251,068) and Net result for the year (+€146,450)
- Receivables within one year -€127,551
down €127,551 (-15.3%), from €835,666 to €708,115
of which Trade receivables: -€127,549
- Tangible fixed assets -€41,948
down €41,948 (-42.8%), from €98,014 to €56,067
- Trade debts +€251,068
up €251,068 (+62.6%), from €400,998 to €652,065
- Reserves +€146,450
up €146,450 (+24.6%), from €596,446 to €742,896
of which Distributable reserves: +€146,450
- Tax, wage and social debts -€47,551
down €47,551 (-21.8%), from €218,344 to €170,792
of which Remuneration and social security: -€24,455
- Accrued charges and deferred income +€43,580
up €43,580 (+168.0%), from €25,934 to €69,514
- Gross operating margin -€176,076
down €176,076 (-10.2%), from €1.7m to €1.6m
- Staff costs -€142,176
down €142,176 (-10.1%), from €1.4m to €1.3m
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,329,145 | €1,708,084 | +€378,939 | +28.5% |
| Fixed assets | 21/28 | €98,014 | €56,067 | -€41,948 | -42.8% |
| Tangible fixed assets | 22/27 | €98,014 | €56,067 | -€41,948 | -42.8% |
| Plant, machinery and equipment | 23 | €37,022 | €24,657 | -€12,365 | -33.4% |
| Furniture and vehicles | 24 | €16,031 | €175 | -€15,856 | -98.9% |
| Other tangible fixed assets | 26 | €44,962 | €31,235 | -€13,727 | -30.5% |
| Current assets | 29/58 | €1,231,130 | €1,652,017 | +€420,886 | +34.2% |
| Amounts receivable after more than one year | 29 | €127,850 | €132,850 | +€5,000 | +3.9% |
| Other amounts receivable | 291 | €127,850 | €132,850 | +€5,000 | +3.9% |
| Amounts receivable within one year | 40/41 | €835,666 | €708,115 | -€127,551 | -15.3% |
| Trade receivables | 40 | €835,656 | €708,106 | -€127,549 | -15.3% |
| Other amounts receivable | 41 | €10 | €9 | -€1 | -11.8% |
| Cash at bank and in hand | 54/58 | €260,899 | €805,011 | +€544,112 | +208.6% |
| Deferred charges and accrued income | 490/1 | €6,716 | €6,040 | -€675 | -10.1% |
| Total equity and liabilities | 10/49 | €1,329,145 | €1,708,084 | +€378,939 | +28.5% |
| Equity | 10/15 | €669,261 | €815,711 | +€146,450 | +21.9% |
| Contributions | 10/11 | €72,815 | €72,815 | = | 0.0% |
| Reserves | 13 | €596,446 | €742,896 | +€146,450 | +24.6% |
| Tax-exempt reserves | 132 | €1,008 | €1,008 | = | 0.0% |
| Distributable reserves | 133 | €595,438 | €741,888 | +€146,450 | +24.6% |
| Amounts payable | 17/49 | €659,883 | €892,372 | +€232,489 | +35.2% |
| Amounts payable within one year | 42/48 | €633,949 | €822,858 | +€188,909 | +29.8% |
| Trade debts | 44 | €400,998 | €652,065 | +€251,068 | +62.6% |
| Suppliers | 440/4 | €400,998 | €652,065 | +€251,068 | +62.6% |
| Taxes, remuneration and social security | 45 | €218,344 | €170,792 | -€47,551 | -21.8% |
| Taxes | 450/3 | €89,080 | €65,984 | -€23,097 | -25.9% |
| Remuneration and social security | 454/9 | €129,263 | €104,809 | -€24,455 | -18.9% |
| Other amounts payable | 47/48 | €14,608 | €0 | -€14,608 | -100.0% |
| Accrued charges and deferred income | 492/3 | €25,934 | €69,514 | +€43,580 | +168.0% |
| Non-recurring operating income | 76A | €12,446 | €134,956 | +€122,510 | +984.3% |
| Remuneration, social security and pensions | 62 | €1,405,897 | €1,263,721 | -€142,176 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,532 | €34,597 | -€14,935 | -30.2% |
| Other operating charges | 640/8 | €2,237 | €1,407 | -€830 | -37.1% |
| Non-recurring operating charges | 66A | €2,939 | €0 | -€2,939 | -100.0% |
| Gross operating margin | 9900 | €1,734,734 | €1,558,658 | -€176,076 | -10.2% |
| Operating profit (loss) | 9901 | €274,130 | €258,933 | -€15,196 | -5.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €31,215 | €32,816 | +€1,601 | +5.1% |
| Recurring financial charges | 65 | €31,215 | €32,816 | +€1,601 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €242,915 | €226,117 | -€16,798 | -6.9% |
| Income taxes | 67/77 | €93,395 | €79,667 | -€13,728 | -14.7% |
| Profit (loss) for the period | 9904 | €149,520 | €146,450 | -€3,070 | -2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €149,520 | €146,450 | -€3,070 | -2.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.