KES-Construct: 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.
KES-Construct
Largest movements
- Cash +€61,083
up €61,083 (+238.3%), from €25,634 to €86,716
mainly Depreciation (+€53,303) and Net result for the year (+€46,571)
- Tangible fixed assets -€58,219
down €58,219 (-3.7%), from €1.6m to €1.5m
of which Land and buildings: -€52,228
- Debts after one year -€33,051
down €33,051 (-6.3%), from €526,059 to €493,008
- Reserves +€32,227
up €32,227 (+5.1%), from €630,372 to €662,599
of which Tax-exempt reserves: +€32,227
- Other debts -€17,562
down €17,562 (-7.6%), from €229,618 to €212,056
- Gross operating margin +€112,743
up €112,743 (+560.2%), from €20,127 to €132,870
- Financial charges -€6,096
down €6,096 (-23.3%), from €26,155 to €20,059
- Financial income -€3,356
down €3,356 (-90.2%), from €3,723 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.
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 | €1,588,072 | €1,591,458 | +€3,386 | +0.2% |
| Fixed assets | 21/28 | €1,561,486 | €1,503,267 | -€58,219 | -3.7% |
| Tangible fixed assets | 22/27 | €1,561,486 | €1,503,267 | -€58,219 | -3.7% |
| Land and buildings | 22 | €1,546,033 | €1,493,806 | -€52,228 | -3.4% |
| Plant, machinery and equipment | 23 | €1,012 | €543 | -€469 | -46.4% |
| Furniture and vehicles | 24 | €11,548 | €6,554 | -€4,994 | -43.2% |
| Other tangible fixed assets | 26 | €2,892 | €2,364 | -€528 | -18.3% |
| Current assets | 29/58 | €26,586 | €88,191 | +€61,605 | +231.7% |
| Amounts receivable within one year | 40/41 | €112 | €110 | -€2 | -1.8% |
| Other amounts receivable | 41 | €112 | €110 | -€2 | -1.8% |
| Cash at bank and in hand | 54/58 | €25,634 | €86,716 | +€61,083 | +238.3% |
| Deferred charges and accrued income | 490/1 | €840 | €1,364 | +€524 | +62.4% |
| Total equity and liabilities | 10/49 | €1,588,072 | €1,591,458 | +€3,386 | +0.2% |
| Equity | 10/15 | €602,357 | €648,928 | +€46,571 | +7.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €630,372 | €662,599 | +€32,227 | +5.1% |
| Non-distributable reserves | 130/1 | €620 | €620 | = | 0.0% |
| Legal reserve | 130 | €620 | €620 | = | 0.0% |
| Tax-exempt reserves | 132 | €576,317 | €608,544 | +€32,227 | +5.6% |
| Distributable reserves | 133 | €53,435 | €53,435 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€90,014 | -€75,671 | +€14,343 | +15.9% |
| Provisions and deferred taxes | 16 | €192,106 | €202,848 | +€10,742 | +5.6% |
| Deferred taxes | 168 | €192,106 | €202,848 | +€10,742 | +5.6% |
| Amounts payable | 17/49 | €793,609 | €739,682 | -€53,927 | -6.8% |
| Amounts payable after more than one year | 17 | €526,059 | €493,008 | -€33,051 | -6.3% |
| Financial debts | 170/4 | €526,059 | €493,008 | -€33,051 | -6.3% |
| Amounts payable within one year | 42/48 | €267,550 | €246,674 | -€20,876 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €33,051 | €33,051 | = | 0.0% |
| Trade debts | 44 | €4,881 | €1,567 | -€3,314 | -67.9% |
| Suppliers | 440/4 | €4,881 | €1,567 | -€3,314 | -67.9% |
| Other amounts payable | 47/48 | €229,618 | €212,056 | -€17,562 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,816 | €53,303 | +€488 | +0.9% |
| Other operating charges | 640/8 | €2,596 | €2,561 | -€34 | -1.3% |
| Gross operating margin | 9900 | €20,127 | €132,870 | +€112,743 | +560.2% |
| Operating profit (loss) | 9901 | -€35,284 | €77,006 | +€112,290 | |
| Financial income | 75/76B | €3,723 | €366 | -€3,356 | -90.2% |
| Recurring financial income | 75 | €3,723 | €366 | -€3,356 | -90.2% |
| Financial charges | 65/66B | €26,155 | €20,059 | -€6,096 | -23.3% |
| Recurring financial charges | 65 | €26,155 | €20,059 | -€6,096 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | -€57,717 | €57,313 | +€115,030 | |
| Transfer from deferred taxes | 780 | €7,109 | €7,109 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €17,851 | +€17,851 | |
| Profit (loss) for the period | 9904 | -€50,608 | €46,571 | +€97,179 | |
| Transfer from tax-exempt reserves | 789 | €21,326 | €21,326 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €53,553 | +€53,553 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,282 | €14,343 | +€43,626 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.