ARBO STONE
ActiveFinancials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 January 2026 The financial year closed on 30 June 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 4 November 2026.
Annual accounts 2024 filed on 03-02-2025 PDF all 11 filings
Turnover
≈ €330,000
Estimated: probably between €240,000 and €510,000
Total assets
€196,748▼ 33.5%
2023 · €295,665
Net result
€83,305▲ 43.8%
2023 · €57,922
Working capital
€106,763▼ 54.4%
2023 · €234,154
Multi-year overview
2019 to 2024, 6 financial yearsOperating result
€95,652
▲ 52.9%
2024
20192024
Net result
€83,305
▲ 43.8%
2024
highest quarter of the sector
20192024
Equity
€125,049
▲ 36.3%
2024
highest quarter of the sector
20192024
Total assets
€196,748
▼ 33.5%
2024
middle half of the sector
20192024
Debt
€71,699
▼ 64.8%
2024
20192024
Working capital
€106,763
▼ 54.4%
2024
highest quarter of the sector
20192024
Solvency
63.6%
▲ 32.5pp
2024
middle half of the sector
20192024
Current ratio
2.81
▼ 3.00
2024
middle half of the sector
20192024
Return on assets (ROA)
42.3%
▲ 22.8pp
2024
highest quarter of the sector
20192024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202021202220232024
Operating result€55,129-€21,630▼ 60.8%€18,208▼ 15.8%€30,804▲ 69.2%€62,560▲ 103%€95,652▲ 52.9%
Net result€49,824-€19,545within the sector's middle half▼ 60.8%€16,249within the sector's middle half▼ 16.9%€28,256above the sector's middle half▲ 73.9%€57,922above the sector's middle half▲ 105%€83,305above the sector's middle half▲ 43.8%
Equity€75,772-€79,317within the sector's middle half▲ 4.7%€79,566within the sector's middle half▲ 0.3%€83,822within the sector's middle half▲ 5.3%€91,744within the sector's middle half▲ 9.5%€125,049above the sector's middle half▲ 36.3%
Total assets€119,842-€285,751within the sector's middle half▲ 138%€269,598within the sector's middle half▼ 5.7%€261,386within the sector's middle half▼ 3.0%€295,665above the sector's middle half▲ 13.1%€196,748within the sector's middle half▼ 33.5%
Debt€44,070-€206,434▲ 368%€190,032▼ 7.9%€177,564▼ 6.6%€203,922▲ 14.8%€71,699▼ 64.8%
Working capital€66,812-€250,057above the sector's middle half▲ 274%€248,130above the sector's middle half▼ 0.8%€232,747above the sector's middle half▼ 6.2%€234,154above the sector's middle half▲ 0.6%€106,763above the sector's middle half▼ 54.4%
Solvency63.2%-27.8%within the sector's middle half▼ 35.5pp29.5%within the sector's middle half▲ 1.8pp32.1%within the sector's middle half▲ 2.6pp31.0%within the sector's middle half▼ 1.0pp63.6%within the sector's middle half▲ 32.5pp
Current ratio3.14-11.40above the sector's middle half▲ 8.2615.17above the sector's middle half▲ 3.7818.07above the sector's middle half▲ 2.905.81above the sector's middle half▼ 12.262.81within the sector's middle half▼ 3.00
Return on assets (ROA)41.6%-6.8%within the sector's middle half▼ 34.7pp6.0%within the sector's middle half▼ 0.8pp10.8%within the sector's middle half▲ 4.8pp19.6%above the sector's middle half▲ 8.8pp42.3%above the sector's middle half▲ 22.8pp
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2024 is 53% higher than in 2023 and the highest since 2020. It is the third rise in a row, after the fall in 2021.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €196,748
Fixed assets
€31,095 ▲ 143%
Current assets
€165,652 ▼ 41.4%
Equity and liabilities €196,748
Equity
€125,049 ▲ 36.3%
Debt
€71,699 ▼ 64.8%
Debt's share of the balance-sheet total falls from 69.0% to 36.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€99,368▲
2023 · €64,754
Cash flow
€87,021▲
2023 · €60,116
Debt to equity
0.57▼
2023 · 2.22
ROE
66.6%▲
2023 · 63.1%
Interest coverage
24.59▲
2023 · 23.95
Debt ≤ 1 year
€58,889▲
2023 · €48,700
Debt > 1 year
€12,810▼
2023 · €155,222
Income taxes
€9,007▲
2023 · €3,533
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 |
|---|---|---|---|
| Tangible fixed assets | €12,033 | - | €22,001 |
| Depreciation and write-downs of the year | €991 | €2,194 | €3,716 |
Source: notes to the 2022 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,155 | €10,123 | €7,679 | €991 | €2,194 | €3,716 | ▲ 69.4% |
| Other operating charges640/8 | - | - | - | €1,021 | €1,072 | €1,396 | ▲ 30.1% |
| Gross operating margin9900 | €73,389 | €32,932 | €26,439 | €32,816 | €65,826 | €100,764 | ▲ 53.1% |
| Operating profit (loss)9901 | €55,129 | €21,630 | €18,208 | €30,804 | €62,560 | €95,652 | ▲ 52.9% |
| Financial income75/76B | - | - | - | €1,251 | €1,598 | €701 | ▼ 56.2% |
| Recurring financial income75 | €229 | €1,285 | €957 | €1,251 | €1,598 | €701 | ▼ 56.2% |
| Financial charges65/66B | - | - | - | €2,592 | €2,703 | €4,041 | ▲ 49.5% |
| Recurring financial charges65 | €104 | €2,152 | €2,763 | €2,592 | €2,703 | €4,041 | ▲ 49.5% |
| Profit (loss) for the period before taxes9903 | €55,254 | €20,763 | €16,401 | €29,464 | €61,455 | €92,312 | ▲ 50.2% |
| Income taxes67/77 | €5,430 | €1,218 | €152 | €1,208 | €3,533 | €9,007 | ▲ 155% |
| Profit (loss) for the period9904 | €49,824 | €19,545 | €16,249 | €28,256 | €57,922 | €83,305 | ▲ 43.8% |
| Profit (loss) for the period to be appropriated9905 | €49,824 | €19,545 | €16,249 | €28,256 | €57,922 | €83,305 | ▲ 43.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €119,842 | €285,751 | €269,598 | €261,386 | €295,665 | €196,748 | ▼ 33.5% |
| Fixed assets21/28 | €21,763 | €11,641 | €3,962 | €15,005 | €12,811 | €31,095 | ▲ 143% |
| Tangible fixed assets22/27 | €21,763 | €11,641 | €3,962 | €15,005 | €12,811 | €31,095 | ▲ 143% |
| Furniture and vehicles24 | - | - | - | - | - | €20,478 | - |
| Other tangible fixed assets26 | - | - | - | €15,005 | €12,811 | €10,617 | ▼ 17.1% |
| Current assets29/58 | €98,079 | €274,111 | €265,636 | €246,381 | €282,854 | €165,652 | ▼ 41.4% |
| Stocks and contracts in progress3 | - | €148,373 | €164,658 | €193,375 | €211,719 | - | - |
| Stocks30/36 | - | - | - | €193,375 | €211,719 | - | - |
| Amounts receivable within one year40/41 | €25,795 | €48,169 | €22,736 | €10,901 | €34,297 | €17,798 | ▼ 48.1% |
| Trade receivables40 | - | - | - | €8,334 | €34,297 | €14,756 | ▼ 57.0% |
| Other amounts receivable41 | - | - | - | €2,566 | - | €3,042 | - |
| Cash at bank and in hand54/58 | €72,284 | €77,569 | €78,243 | €42,105 | €36,838 | €147,854 | ▲ 301% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €119,842 | €285,751 | €269,598 | €261,386 | €295,665 | €196,748 | ▼ 33.5% |
| Equity10/15 | €75,772 | €79,317 | €79,566 | €83,822 | €91,744 | €125,049 | ▲ 36.3% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Capital10 | - | - | - | €20,000 | €20,000 | €20,000 | = |
| Issued capital100 | - | - | - | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €55,772 | €59,317 | €59,566 | €63,822 | €71,744 | €105,049 | ▲ 46.4% |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | €2,000 | = |
| Legal reserve130 | - | - | - | €2,000 | €2,000 | €2,000 | = |
| Distributable reserves133 | - | - | - | €61,822 | €69,744 | €103,049 | ▲ 47.8% |
| Amounts payable17/49 | €44,070 | €206,434 | €190,032 | €177,564 | €203,922 | €71,699 | ▼ 64.8% |
| Amounts payable after more than one year17 | €12,804 | €182,380 | €172,526 | €163,930 | €155,222 | €12,810 | ▼ 91.7% |
| Financial debts170/4 | - | - | - | €163,930 | €155,222 | €12,810 | ▼ 91.7% |
| Amounts payable within one year42/48 | €31,267 | €24,054 | €17,506 | €13,634 | €48,700 | €58,889 | ▲ 20.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €8,596 | €8,709 | €3,165 | ▼ 63.7% |
| Trade debts44 | €2,222 | €2,570 | €2,504 | €1,112 | €7,914 | €1,879 | ▼ 76.3% |
| Suppliers440/4 | - | - | - | €1,112 | €7,914 | €1,879 | ▼ 76.3% |
| Taxes, remuneration and social security45 | - | - | - | €2,060 | €4,211 | - | - |
| Taxes450/3 | - | - | - | €2,060 | €4,211 | - | - |
| Other amounts payable47/48 | - | - | - | €1,866 | €27,866 | €53,845 | ▲ 93.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €49,824 | €19,545 | €16,249 | €28,256 | €57,922 | €83,305 | ▲ 43.8% |
| + Depreciation and write-downs630 | €17,155 | €10,123 | €7,679 | €991 | €2,194 | €3,716 | ▲ 69.4% |
| Operating cash flow (approximation) | €66,979 | €29,668 | €23,928 | €29,246 | €60,116 | €87,021 | ▲ 44.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€12,033 | €0 | -€22,001 | - |
| Change in cash | - | €5,285 | €674 | -€36,137 | -€5,267 | €111,016 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2024 | micro format | 03-02-2025 | 2025-00028585 | |
| 30-06-2023 | micro format | 30-01-2024 | 2024-00024587 | |
| 30-06-2022 | micro format | 01-03-2023 | 2023-00033544 | |
| 30-06-2021 | micro format | 27-01-2022 | 2022-02800171 | |
| 30-06-2020 | micro format | 27-01-2021 | 2021-02200152 | |
| 30-06-2019 | micro format | 09-04-2020 | 2020-08900364 | |
| 30-06-2018 | micro format | 03-01-2019 | 2019-00300275 | |
| 30-06-2017 | micro format | 12-12-2017 | 2017-72000236 | |
| 30-06-2016 | abbreviated format | 05-01-2017 | 2017-00700093 | |
| 30-06-2015 | abbreviated format | 22-12-2015 | 2015-70000553 |