MASTER KENAN: 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.
MASTER KENAN
Largest movements
- Current assets -€9,333
down €9,333 (-32.2%), from €28,949 to €19,616
of which Receivables within one year: -€20,278
- Intangible fixed assets -€3,000
down €3,000 (-33.3%), from €9,000 to €6,000
- Tangible fixed assets -€959
down €959 (-13.5%), from €7,124 to €6,165
- Profit (loss) carried forward -€24,539
down €24,539, from €3,599 to -€20,940
- Debts after one year +€16,956
new in 2019: €16,956
- Debts within one year -€5,710
down €5,710 (-26.6%), from €21,476 to €15,766
- Gross operating margin +€26,251
up €26,251, from -€3,412 to €22,840
From the 2018 result to the 2019 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2018 | 2019 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €47,076 | €33,783 | -€13,293 | -28.2% |
| Fixed assets | 21/28 | €18,127 | €14,167 | -€3,959 | -21.8% |
| Intangible fixed assets | 21 | €9,000 | €6,000 | -€3,000 | -33.3% |
| Tangible fixed assets | 22/27 | €7,124 | €6,165 | -€959 | -13.5% |
| Financial fixed assets | 28 | €2,002 | €2,002 | = | 0.0% |
| Current assets | 29/58 | €28,949 | €19,616 | -€9,333 | -32.2% |
| Stocks and contracts in progress | 3 | €2,775 | €1,702 | -€1,073 | -38.6% |
| Amounts receivable within one year | 40/41 | €26,137 | €5,859 | -€20,278 | -77.6% |
| Cash at bank and in hand | 54/58 | €37 | €11,664 | +€11,627 | +31,743% |
| Total equity and liabilities | 10/49 | €47,076 | €33,783 | -€13,293 | -28.2% |
| Equity | 10/15 | €25,599 | €1,060 | -€24,539 | -95.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,599 | -€20,940 | -€24,539 | |
| Amounts payable | 17/49 | €21,476 | €32,723 | +€11,246 | +52.4% |
| Amounts payable after more than one year | 17 | - | €16,956 | +€16,956 | |
| Amounts payable within one year | 42/48 | €21,476 | €15,766 | -€5,710 | -26.6% |
| Trade debts | 44 | €2,246 | €2,330 | +€84 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,959 | €3,959 | = | 0.0% |
| Gross operating margin | 9900 | -€3,412 | €22,840 | +€26,251 | |
| Operating profit (loss) | 9901 | -€13,032 | -€23,450 | -€10,418 | -79.9% |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Recurring financial charges | 65 | €122 | €1,089 | +€967 | +795% |
| Profit (loss) for the period before taxes | 9903 | -€13,153 | -€24,539 | -€11,386 | -86.6% |
| Profit (loss) for the period | 9904 | -€13,153 | -€24,539 | -€11,386 | -86.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,153 | -€24,539 | -€11,386 | -86.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2018 and 31 December 2019. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.