KWEN: 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.
KWEN
Largest movements
- Receivables within one year +€65,102
up €65,102 (+30.4%), from €213,828 to €278,930
of which Trade receivables: +€64,185
- Cash +€35,583
up €35,583 (+65.3%), from €54,489 to €90,072
mainly Net result for the year (+€100,048) and Other debts (+€19,241)
- Tangible fixed assets +€14,340
up €14,340 (+549.3%), from €2,610 to €16,950
of which Furniture and vehicles: +€16,003
- Reserves +€100,048
up €100,048 (+40.3%), from €248,312 to €348,361
of which Distributable reserves: +€100,048
- Other debts +€19,241
up €19,241 (+18.3%), from €104,940 to €124,181
- Gross operating margin +€141,058
up €141,058, from -€25,687 to €115,370
- Other operating charges +€4,123
up €4,123 (+44.5%), from €9,258 to €13,381
- Depreciation -€1,963
down €1,963 (-36.9%), from €5,324 to €3,360
- Financial income +€1,903
up €1,903 (+1494.5%), from €127 to €2,031
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 | €388,470 | €507,429 | +€118,959 | +30.6% |
| Fixed assets | 21/28 | €2,885 | €17,225 | +€14,340 | +497.0% |
| Tangible fixed assets | 22/27 | €2,610 | €16,950 | +€14,340 | +549.3% |
| Plant, machinery and equipment | 23 | €2,610 | €947 | -€1,663 | -63.7% |
| Furniture and vehicles | 24 | - | €16,003 | +€16,003 | |
| Financial fixed assets | 28 | €275 | €275 | = | 0.0% |
| Current assets | 29/58 | €385,585 | €490,204 | +€104,620 | +27.1% |
| Amounts receivable after more than one year | 29 | €90,000 | €90,000 | = | 0.0% |
| Other amounts receivable | 291 | €90,000 | €90,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €25,000 | €25,000 | = | 0.0% |
| Stocks | 30/36 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €213,828 | €278,930 | +€65,102 | +30.4% |
| Trade receivables | 40 | €211,273 | €275,458 | +€64,185 | +30.4% |
| Other amounts receivable | 41 | €2,555 | €3,472 | +€917 | +35.9% |
| Cash at bank and in hand | 54/58 | €54,489 | €90,072 | +€35,583 | +65.3% |
| Deferred charges and accrued income | 490/1 | €2,268 | €6,202 | +€3,935 | +173.5% |
| Total equity and liabilities | 10/49 | €388,470 | €507,429 | +€118,959 | +30.6% |
| Equity | 10/15 | €266,912 | €366,961 | +€100,048 | +37.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €248,312 | €348,361 | +€100,048 | +40.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €246,452 | €346,501 | +€100,048 | +40.6% |
| Amounts payable | 17/49 | €121,558 | €140,469 | +€18,911 | +15.6% |
| Amounts payable within one year | 42/48 | €121,558 | €140,469 | +€18,911 | +15.6% |
| Trade debts | 44 | €14,119 | €13,774 | -€344 | -2.4% |
| Suppliers | 440/4 | €14,119 | €13,774 | -€344 | -2.4% |
| Taxes, remuneration and social security | 45 | €2,500 | €2,514 | +€14 | +0.6% |
| Remuneration and social security | 454/9 | €2,500 | €2,514 | +€14 | +0.6% |
| Other amounts payable | 47/48 | €104,940 | €124,181 | +€19,241 | +18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,324 | €3,360 | -€1,963 | -36.9% |
| Other operating charges | 640/8 | €9,258 | €13,381 | +€4,123 | +44.5% |
| Gross operating margin | 9900 | -€25,687 | €115,370 | +€141,058 | |
| Operating profit (loss) | 9901 | -€40,269 | €98,629 | +€138,898 | |
| Financial income | 75/76B | €127 | €2,031 | +€1,903 | +1494.5% |
| Recurring financial income | 75 | €127 | €2,031 | +€1,903 | +1494.5% |
| Financial charges | 65/66B | €579 | €611 | +€32 | +5.5% |
| Recurring financial charges | 65 | €579 | €611 | +€32 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | -€40,721 | €100,048 | +€140,769 | |
| Income taxes | 67/77 | €1 | €0 | -€1 | -100.0% |
| Profit (loss) for the period | 9904 | -€40,722 | €100,048 | +€140,771 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,722 | €100,048 | +€140,771 |
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 6 October 2026 via checked.be.