STONE & CONCEPTION
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-01-2026 PDF all 25 filings
Turnover
€50,348
EBIT margin
-92.6%
Net result
-€62,829▲ 24.4%
2024 · -€83,105
Working capital
-€229,928▼ 33.7%
2024 · -€171,990
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
€50,348
2025
20192025
Operating result
-€46,637
▲ 41.5%
2025
20192025
Net result
-€62,829
▲ 24.4%
2025
lowest quarter of the sector
20192025
EBIT margin
-92.6%
2025
20192025
Equity
-€210,396
▼ 42.6%
2025
lowest quarter of the sector
20192025
Total assets
€179,810
▼ 57.5%
2025
middle half of the sector
20192025
Debt
€390,206
▼ 31.6%
2025
20192025
Working capital
-€229,928
▼ 33.7%
2025
lowest quarter of the sector
20192025
Solvency
-117.0%
▼ 82.1pp
2025
lowest quarter of the sector
20192025
Current ratio
0.41
▼ 0.29
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
-34.9%
▼ 15.3pp
2025
lowest quarter of the sector
20192025
Staff (FTE)
2
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€50,348
Operating result€7,053--€7,784€17,017-€3,310-€37,270▼ 1,026%-€79,733▼ 114%-€46,637▲ 41.5%
Net result-€4,372--€18,913below the sector's middle half▼ 333%€5,462within the sector's middle half-€13,097below the sector's middle half-€43,831below the sector's middle half▼ 235%-€83,105below the sector's middle half▼ 89.6%-€62,829below the sector's middle half▲ 24.4%
EBIT margin-92.6%
Equity€5,917--€12,996below the sector's middle half-€7,534below the sector's middle half▲ 42.0%-€20,631below the sector's middle half▼ 174%-€64,462below the sector's middle half▼ 212%-€147,567below the sector's middle half▼ 129%-€210,396below the sector's middle half▼ 42.6%
Total assets€350,180-€256,087within the sector's middle half▼ 26.9%€266,306within the sector's middle half▲ 4.0%€227,486within the sector's middle half▼ 14.6%€395,155within the sector's middle half▲ 73.7%€423,270within the sector's middle half▲ 7.1%€179,810within the sector's middle half▼ 57.5%
Debt€344,263-€269,083▼ 21.8%€273,840▲ 1.8%€248,117▼ 9.4%€459,617▲ 85.2%€570,837▲ 24.2%€390,206▼ 31.6%
Working capital-€20,262--€25,199below the sector's middle half▼ 24.4%-€15,919below the sector's middle half▲ 36.8%-€40,615below the sector's middle half▼ 155%-€81,583below the sector's middle half▼ 101%-€171,990below the sector's middle half▼ 111%-€229,928below the sector's middle half▼ 33.7%
Solvency1.7%--5.1%below the sector's middle half▼ 6.8pp-2.8%below the sector's middle half▲ 2.2pp-9.1%below the sector's middle half▼ 6.2pp-16.3%below the sector's middle half▼ 7.2pp-34.9%below the sector's middle half▼ 18.6pp-117.0%below the sector's middle half▼ 82.1pp
Current ratio0.93-0.89below the sector's middle half▼ 0.040.94below the sector's middle half▲ 0.040.84below the sector's middle half▼ 0.100.82below the sector's middle half▼ 0.010.70below the sector's middle half▼ 0.120.41below the sector's middle half▼ 0.29
Return on assets (ROA)-1.2%--7.4%below the sector's middle half▼ 6.1pp2.1%within the sector's middle half▲ 9.4pp-5.8%below the sector's middle half▼ 7.8pp-11.1%below the sector's middle half▼ 5.3pp-19.6%below the sector's middle half▼ 8.5pp-34.9%below the sector's middle half▼ 15.3pp
Staff (FTE)5-4above the sector's middle half▼ 20.0%4=3▼ 25.0%2.8▼ 6.7%2
above
within
below
The sector band is the middle half of the companies in Manufacture of other non-metallic mineral products (NACE 23). 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 2025 is a loss of €46,637, smaller than the loss of €79,733 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €179,810
Fixed assets
€19,532 ▼ 20.7%
Current assets
€160,278 ▼ 59.8%
Equity and liabilities
Equity-€210,396
Debt€390,206
Equity is negative. Debt (€390,206) exceeds the balance-sheet total (€179,810).
Key figures and ratios
EBITDA
-€41,548
Cash flow
-€57,739
Quick ratio
0.10▼
2024 · 0.46
Interest coverage
-2.57
Debt ≤ 1 year
€390,206▼
2024 · €570,638
Customer credit
45 days
Staff costs
€38,561▲
2024 · €36,315
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 3 | 2 | 2 |
| full-time | 3 | 2 | 2 |
| in full-time equivalents | 3 | 2 | 2 |
| Average over the year, in full-time equivalents | 3 | 2.8 | 2 |
| On a permanent contract | 3 | 2 | 2 |
| Joined | - | 0 | - |
| Left | - | 1 | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Overdue debts
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Overdue tax debts | - | - | - | €30,353 |
| Overdue social security (RSZ) debts | - | - | - | €24,833 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €2,226 | - | €7,500 | - |
| Depreciation and write-downs of the year | €8,278 | €3,532 | - | €5,089 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | - | €50,348 | - |
| Remuneration, social security and pensions62 | - | - | - | €114,329 | €82,540 | €36,315 | €38,561 | ▲ 6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,389 | €22,175 | €22,096 | €8,278 | €3,532 | - | €5,089 | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €210 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €8,538 | €14,594 | €11,752 | €12,440 | ▲ 5.9% |
| Gross operating margin9900 | €188,123 | €113,769 | €174,240 | €128,045 | €63,395 | -€31,666 | €9,454 | - |
| Operating profit (loss)9901 | €7,053 | -€7,784 | €17,017 | -€3,310 | -€37,270 | -€79,733 | -€46,637 | ▲ 41.5% |
| Financial income75/76B | - | - | - | €6 | €1 | - | - | - |
| Recurring financial income75 | - | - | - | €6 | €1 | - | - | - |
| Financial charges65/66B | - | - | - | €9,793 | €6,561 | €3,372 | €16,192 | ▲ 380% |
| Recurring financial charges65 | €11,889 | €11,086 | €10,523 | €9,793 | €6,561 | €3,372 | €16,192 | ▲ 380% |
| Profit (loss) for the period before taxes9903 | -€4,836 | -€18,870 | €6,494 | -€13,097 | -€43,831 | -€83,105 | -€62,829 | ▲ 24.4% |
| Income taxes67/77 | -€464 | €43 | €1,032 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€4,372 | -€18,913 | €5,462 | -€13,097 | -€43,831 | -€83,105 | -€62,829 | ▲ 24.4% |
| Profit (loss) for the period to be appropriated9905 | -€4,372 | -€18,913 | €5,462 | -€13,097 | -€43,831 | -€83,105 | -€62,829 | ▲ 24.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €350,180 | €256,087 | €266,306 | €227,486 | €395,155 | €423,270 | €179,810 | ▼ 57.5% |
| Fixed assets21/28 | €65,542 | €43,367 | €22,025 | €20,653 | €17,122 | €24,622 | €19,532 | ▼ 20.7% |
| Tangible fixed assets22/27 | €65,245 | €43,070 | €21,728 | €20,356 | €16,824 | €24,325 | €19,235 | ▼ 20.9% |
| Land and buildings22 | - | - | - | €7,334 | €5,845 | €5,845 | €4,356 | ▼ 25.5% |
| Plant, machinery and equipment23 | - | - | - | €2,047 | €1,421 | €8,921 | €6,821 | ▼ 23.5% |
| Furniture and vehicles24 | - | - | - | €457 | €281 | €281 | €104 | ▼ 62.9% |
| Other tangible fixed assets26 | - | - | - | €10,519 | €9,278 | €9,278 | €7,954 | ▼ 14.3% |
| Financial fixed assets28 | €297 | €297 | €297 | €297 | €297 | €297 | €297 | = |
| Current assets29/58 | €284,638 | €212,720 | €244,280 | €206,833 | €378,033 | €398,648 | €160,278 | ▼ 59.8% |
| Stocks and contracts in progress3 | €146,828 | €139,265 | €134,913 | €137,731 | €137,731 | €137,731 | €122,231 | ▼ 11.3% |
| Stocks30/36 | - | - | - | €137,731 | €137,731 | €137,731 | €122,231 | ▼ 11.3% |
| Amounts receivable within one year40/41 | €107,671 | €57,044 | €87,842 | €57,842 | €186,517 | €205,754 | €34,328 | ▼ 83.3% |
| Trade receivables40 | - | - | - | €57,621 | €186,322 | €201,385 | €6,236 | ▼ 96.9% |
| Other amounts receivable41 | - | - | - | €221 | €195 | €4,369 | €28,092 | ▲ 543% |
| Current investments50/53 | €1 | €1 | €1 | €1 | €1 | €1 | - | - |
| Cash at bank and in hand54/58 | €26,738 | €15,410 | €18,336 | €9,129 | €52,333 | €53,711 | €3,719 | ▼ 93.1% |
| Deferred charges and accrued income490/1 | - | - | - | €2,130 | €1,452 | €1,451 | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €350,180 | €256,087 | €266,306 | €227,486 | €395,155 | €423,270 | €179,810 | ▼ 57.5% |
| Equity10/15 | €5,917 | -€12,996 | -€7,534 | -€20,631 | -€64,462 | -€147,567 | -€210,396 | ▼ 42.6% |
| Contributions10/11 | €18,550 | - | - | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Non-distributable reserves130/1 | - | - | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | - | - | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Profit (loss) carried forward14 | -€14,488 | -€33,401 | -€27,939 | -€41,036 | -€84,867 | -€167,972 | -€230,801 | ▼ 37.4% |
| Amounts payable17/49 | €344,263 | €269,083 | €273,840 | €248,117 | €459,617 | €570,837 | €390,206 | ▼ 31.6% |
| Amounts payable after more than one year17 | €39,363 | €31,164 | €13,641 | €669 | - | - | - | - |
| Financial debts170/4 | - | - | - | €669 | - | - | - | - |
| Amounts payable within one year42/48 | €304,900 | €237,919 | €260,199 | €247,448 | €459,617 | €570,638 | €390,206 | ▼ 31.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €12,972 | €5,836 | €5,836 | - | - |
| Financial debts43 | - | - | - | €125,000 | €176,137 | €176,137 | €165,213 | ▼ 6.2% |
| Credit institutions430/8 | - | - | - | €125,000 | €176,137 | €176,137 | €165,213 | ▼ 6.2% |
| Trade debts44 | €120,840 | €52,171 | €81,416 | €70,990 | €135,622 | €156,867 | €51,662 | ▼ 67.1% |
| Suppliers440/4 | - | - | - | €70,990 | €135,622 | €156,867 | €51,662 | ▼ 67.1% |
| Taxes, remuneration and social security45 | - | - | - | €6,133 | €42,266 | €87,199 | €60,624 | ▼ 30.5% |
| Taxes450/3 | - | - | - | €1,187 | €5,602 | €29,912 | €30,907 | ▲ 3.3% |
| Remuneration and social security454/9 | - | - | - | €4,946 | €36,664 | €57,287 | €29,717 | ▼ 48.1% |
| Other amounts payable47/48 | - | - | - | €32,353 | €99,756 | €144,599 | €112,708 | ▼ 22.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €199 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,372 | -€18,913 | €5,462 | -€13,097 | -€43,831 | -€83,105 | -€62,829 | ▲ 24.4% |
| + Depreciation and write-downs630 | €24,389 | €22,175 | €22,096 | €8,278 | €3,532 | - | €5,089 | - |
| Operating cash flow (approximation) | €20,017 | €3,262 | €27,557 | -€4,819 | -€40,299 | -€83,105 | -€57,739 | ▲ 30.5% |
| Investment in fixed assets (approximation) | - | €0 | -€754 | -€6,906 | €0 | -€7,500 | €0 | - |
| Change in cash | - | -€11,328 | €2,926 | -€9,207 | €43,204 | €1,378 | -€49,992 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,619 companies had the same profile as STONE & CONCEPTION has now. Two years later, 84.5% were still going and 4.5% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
84.5%
was still going
10.0%
stopped otherwise
4.5%
went bankrupt
Another 1.0% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of STONE & CONCEPTION itself: 1.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,619 companies, not a prediction for STONE & CONCEPTION. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 29-01-2026 | 2026-00020667 | |
| 30-06-2024 | micro format | 05-09-2025 | 2025-00488732 | |
| 30-06-2023 | micro format | 30-01-2024 | 2024-00023394 | |
| 30-06-2022 | micro format | 27-01-2023 | 2023-00009667 | |
| 30-06-2021 | micro format | 25-01-2022 | 2022-02000563 | |
| 30-06-2020 | micro format | 04-01-2021 | 2021-00400045 | |
| 30-06-2019 | micro format | 05-12-2019 | 2019-75400543 | |
| 30-06-2018 | micro format | 13-12-2018 | 2018-74500216 | |
| 30-06-2017 | full format | 21-12-2017 | 2017-73000200 | |
| 30-06-2016 | full format | 30-01-2017 | 2017-02900160 |