KEREN PROPERTIES AND DEVELOPMENT: 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.
KEREN PROPERTIES AND DEVELOPMENT
Largest movements
- Tangible fixed assets -€1.4m
down €1.4m (-41.3%), from €3.3m to €1.9m
of which Land and buildings: -€1.4m
- Receivables within one year +€196,110
up €196,110 (+18.1%), from €1.1m to €1.3m
of which Other amounts receivable: +€189,255
- Debts after one year -€1.9m
down €1.9m (-100.0%), from €1.9m to €150
of which Financial debts: -€1.9m
- Current portion of long-term debt +€1.9m
new in 2024: €1.9m
- Revaluation surpluses -€1.3m
down €1.3m (-57.4%), from €2.3m to €996,547
- Profit (loss) carried forward -€190,237
down €190,237 (-11.0%), from -€1.7m to -€1.9m
- Other debts +€165,291
up €165,291 (+17.8%), from €929,168 to €1.1m
- Financial income +€197,689
up €197,689 (+18,547%), from €1,066 to €198,755
- Other operating charges +€128,949
up €128,949 (+510%), from €25,268 to €154,217
- Gross operating margin -€95,792
down €95,792 (-60.2%), from €159,153 to €63,361
- Financial charges +€37,509
up €37,509 (+28.0%), from €133,777 to €171,286
- Depreciation +€7,829
up €7,829 (+6.6%), from €119,019 to €126,848
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,463,921 | €3,297,995 | -€1.2m | -26.1% |
| Formation expenses | 20 | €63,089 | €42,060 | -€21,030 | -33.3% |
| Fixed assets | 21/28 | €3,299,673 | €1,938,134 | -€1.4m | -41.3% |
| Tangible fixed assets | 22/27 | €3,299,673 | €1,938,134 | -€1.4m | -41.3% |
| Land and buildings | 22 | €3,295,673 | €1,934,396 | -€1.4m | -41.3% |
| Plant, machinery and equipment | 23 | - | €954 | +€954 | |
| Furniture and vehicles | 24 | €4,000 | €2,784 | -€1,216 | -30.4% |
| Current assets | 29/58 | €1,101,159 | €1,317,802 | +€216,643 | +19.7% |
| Amounts receivable within one year | 40/41 | €1,084,179 | €1,280,289 | +€196,110 | +18.1% |
| Trade receivables | 40 | €247,601 | €254,456 | +€6,855 | +2.8% |
| Other amounts receivable | 41 | €836,578 | €1,025,833 | +€189,255 | +22.6% |
| Cash at bank and in hand | 54/58 | €2,612 | €8,145 | +€5,533 | +212% |
| Deferred charges and accrued income | 490/1 | €14,368 | €29,368 | +€15,000 | +104% |
| Total equity and liabilities | 10/49 | €4,463,921 | €3,297,995 | -€1.2m | -26.1% |
| Equity | 10/15 | €1,493,372 | €15,385 | -€1.5m | -99.0% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Revaluation surpluses | 12 | €2,336,777 | €996,547 | -€1.3m | -57.4% |
| Reserves | 13 | €754,631 | €807,110 | +€52,480 | +7.0% |
| Distributable reserves | 133 | €754,631 | €807,110 | +€52,480 | +7.0% |
| Profit (loss) carried forward | 14 | -€1,721,982 | -€1,912,219 | -€190,237 | -11.0% |
| Amounts payable | 17/49 | €2,970,550 | €3,282,610 | +€312,061 | +10.5% |
| Amounts payable after more than one year | 17 | €1,939,519 | €150 | -€1.9m | -100.0% |
| Financial debts | 170/4 | €1,939,369 | €0 | -€1.9m | -100% |
| Other amounts payable | 178/9 | €150 | €150 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,031,030 | €3,282,460 | +€2.3m | +218% |
| Current portion of amounts payable after more than one year | 42 | - | €1,939,369 | +€1.9m | |
| Trade debts | 44 | €26,139 | €172,909 | +€146,770 | +561% |
| Suppliers | 440/4 | €26,139 | €172,909 | +€146,770 | +561% |
| Taxes, remuneration and social security | 45 | €75,724 | €75,724 | = | 0.0% |
| Taxes | 450/3 | €75,724 | €75,724 | = | 0.0% |
| Other amounts payable | 47/48 | €929,168 | €1,094,459 | +€165,291 | +17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,019 | €126,848 | +€7,829 | +6.6% |
| Other operating charges | 640/8 | €25,268 | €154,217 | +€128,949 | +510% |
| Gross operating margin | 9900 | €159,153 | €63,361 | -€95,792 | -60.2% |
| Operating profit (loss) | 9901 | €14,865 | -€217,705 | -€232,570 | |
| Financial income | 75/76B | €1,066 | €198,755 | +€197,689 | +18,547% |
| Recurring financial income | 75 | €1,066 | €198,755 | +€197,689 | +18,547% |
| Financial charges | 65/66B | €133,777 | €171,286 | +€37,509 | +28.0% |
| Recurring financial charges | 65 | €133,777 | €171,286 | +€37,509 | +28.0% |
| Profit (loss) for the period before taxes | 9903 | -€117,846 | -€190,237 | -€72,390 | -61.4% |
| Profit (loss) for the period | 9904 | -€117,846 | -€190,237 | -€72,390 | -61.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€117,846 | -€190,237 | -€72,390 | -61.4% |
Source: filed annual accounts (NBB), financial years ended 31 August 2023 and 31 August 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.