SOENEN KENNY: 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.
SOENEN KENNY
Largest movements
- Stocks and contracts +€35,385
new in 2025: €35,385
- Tangible fixed assets -€21,839
down €21,839 (-25.9%), from €84,471 to €62,632
of which Furniture and vehicles: -€17,149
- Cash -€10,496
down €10,496 (-21.9%), from €47,837 to €37,341
mainly Stocks and contracts (-€35,385) and Debts after one year (-€16,787)
- Receivables within one year -€5,534
down €5,534 (-60.8%), from €9,095 to €3,561
of which Other amounts receivable: -€4,585
- Debts after one year -€16,787
down €16,787 (-29.7%), from €56,553 to €39,767
- Reserves +€10,121
up €10,121 (+32.8%), from €30,835 to €40,956
- Trade debts +€9,155
up €9,155 (+161%), from €5,671 to €14,826
- Tax, wage and social debts -€5,704
down €5,704 (-47.2%), from €12,082 to €6,378
of which Taxes: -€8,004
- Accrued charges and deferred income +€2,880
new in 2025: €2,880
- Gross operating margin -€25,188
down €25,188 (-38.7%), from €65,004 to €39,816
- Taxes -€7,842
down €7,842 (-72.8%), from €10,769 to €2,928
- Depreciation +€2,576
up €2,576 (+12.3%), from €20,984 to €23,560
- Financial charges +€1,133
up €1,133 (+68.5%), from €1,656 to €2,789
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.
Derived cash bridge
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 | €141,403 | €138,919 | -€2,484 | -1.8% |
| Fixed assets | 21/28 | €84,471 | €62,632 | -€21,839 | -25.9% |
| Tangible fixed assets | 22/27 | €84,471 | €62,632 | -€21,839 | -25.9% |
| Plant, machinery and equipment | 23 | €15,190 | €10,500 | -€4,690 | -30.9% |
| Furniture and vehicles | 24 | €69,281 | €52,132 | -€17,149 | -24.8% |
| Current assets | 29/58 | €56,932 | €76,287 | +€19,355 | +34.0% |
| Stocks and contracts in progress | 3 | - | €35,385 | +€35,385 | |
| Contracts in progress | 37 | - | €35,385 | +€35,385 | |
| Amounts receivable within one year | 40/41 | €9,095 | €3,561 | -€5,534 | -60.8% |
| Trade receivables | 40 | €2,269 | €1,320 | -€949 | -41.8% |
| Other amounts receivable | 41 | €6,826 | €2,241 | -€4,585 | -67.2% |
| Cash at bank and in hand | 54/58 | €47,837 | €37,341 | -€10,496 | -21.9% |
| Total equity and liabilities | 10/49 | €141,403 | €138,919 | -€2,484 | -1.8% |
| Equity | 10/15 | €35,835 | €45,956 | +€10,121 | +28.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €30,835 | €40,956 | +€10,121 | +32.8% |
| Distributable reserves | 133 | €30,835 | €40,956 | +€10,121 | +32.8% |
| Amounts payable | 17/49 | €105,569 | €92,963 | -€12,605 | -11.9% |
| Amounts payable after more than one year | 17 | €56,553 | €39,767 | -€16,787 | -29.7% |
| Financial debts | 170/4 | €56,553 | €39,767 | -€16,787 | -29.7% |
| Amounts payable within one year | 42/48 | €49,015 | €50,317 | +€1,302 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €18,732 | €16,787 | -€1,945 | -10.4% |
| Trade debts | 44 | €5,671 | €14,826 | +€9,155 | +161% |
| Suppliers | 440/4 | €5,671 | €14,826 | +€9,155 | +161% |
| Taxes, remuneration and social security | 45 | €12,082 | €6,378 | -€5,704 | -47.2% |
| Taxes | 450/3 | €10,932 | €2,928 | -€8,004 | -73.2% |
| Remuneration and social security | 454/9 | €1,150 | €3,450 | +€2,300 | +200% |
| Other amounts payable | 47/48 | €12,531 | €12,327 | -€204 | -1.6% |
| Accrued charges and deferred income | 492/3 | - | €2,880 | +€2,880 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,984 | €23,560 | +€2,576 | +12.3% |
| Other operating charges | 640/8 | €1,087 | €513 | -€574 | -52.8% |
| Gross operating margin | 9900 | €65,004 | €39,816 | -€25,188 | -38.7% |
| Operating profit (loss) | 9901 | €42,933 | €15,743 | -€27,190 | -63.3% |
| Financial income | 75/76B | €327 | €95 | -€232 | -71.1% |
| Recurring financial income | 75 | €327 | €95 | -€232 | -71.1% |
| Financial charges | 65/66B | €1,656 | €2,789 | +€1,133 | +68.5% |
| Recurring financial charges | 65 | €1,656 | €2,789 | +€1,133 | +68.5% |
| Profit (loss) for the period before taxes | 9903 | €41,604 | €13,049 | -€28,556 | -68.6% |
| Income taxes | 67/77 | €10,769 | €2,928 | -€7,842 | -72.8% |
| Profit (loss) for the period | 9904 | €30,835 | €10,121 | -€20,714 | -67.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,835 | €10,121 | -€20,714 | -67.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.