De Stenen: 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.
De Stenen
Largest movements
- Current investments -€55,889
down €55,889 (-84.7%), from €65,977 to €10,088
- Tangible fixed assets -€39,073
down €39,073 (-5.9%), from €665,747 to €626,673
- Receivables within one year -€18,729
down €18,729 (-96.2%), from €19,475 to €746
of which Trade receivables: -€16,000
- Cash -€9,037
down €9,037 (-39.8%), from €22,701 to €13,664
mainly Other debts (-€120,000) and Debts after one year (-€47,535)
- Other debts -€120,000
down €120,000 (-99.3%), from €120,845 to €845
- Debts after one year -€47,535
down €47,535 (-7.9%), from €599,809 to €552,274
- Reserves +€35,001
up €35,001 (+337.0%), from €10,385 to €45,386
- Gross operating margin +€5,068
up €5,068 (+5.7%), from €88,306 to €93,374
- Financial income +€2,314
up €2,314 (+195.5%), from €1,184 to €3,498
- Taxes +€2,027
up €2,027 (+21.0%), from €9,675 to €11,703
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 | €780,399 | €651,172 | -€129,227 | -16.6% |
| Fixed assets | 21/28 | €665,747 | €626,673 | -€39,073 | -5.9% |
| Tangible fixed assets | 22/27 | €665,747 | €626,673 | -€39,073 | -5.9% |
| Other tangible fixed assets | 26 | €665,747 | €626,673 | -€39,073 | -5.9% |
| Current assets | 29/58 | €114,653 | €24,499 | -€90,154 | -78.6% |
| Amounts receivable within one year | 40/41 | €19,475 | €746 | -€18,729 | -96.2% |
| Trade receivables | 40 | €16,000 | - | -€16,000 | |
| Other amounts receivable | 41 | €3,475 | €746 | -€2,729 | -78.5% |
| Current investments | 50/53 | €65,977 | €10,088 | -€55,889 | -84.7% |
| Cash at bank and in hand | 54/58 | €22,701 | €13,664 | -€9,037 | -39.8% |
| Deferred charges and accrued income | 490/1 | €6,500 | - | -€6,500 | |
| Total equity and liabilities | 10/49 | €780,399 | €651,172 | -€129,227 | -16.6% |
| Equity | 10/15 | €12,790 | €47,791 | +€35,001 | +273.7% |
| Contributions | 10/11 | €2,405 | €2,405 | = | 0.0% |
| Reserves | 13 | €10,385 | €45,386 | +€35,001 | +337.0% |
| Distributable reserves | 133 | €10,385 | €45,386 | +€35,001 | +337.0% |
| Amounts payable | 17/49 | €767,610 | €603,381 | -€164,229 | -21.4% |
| Amounts payable after more than one year | 17 | €599,809 | €552,274 | -€47,535 | -7.9% |
| Financial debts | 170/4 | €599,809 | €552,274 | -€47,535 | -7.9% |
| Amounts payable within one year | 42/48 | €167,800 | €51,106 | -€116,694 | -69.5% |
| Current portion of amounts payable after more than one year | 42 | €46,955 | €47,535 | +€579 | +1.2% |
| Trade debts | 44 | - | €1,147 | +€1,147 | |
| Suppliers | 440/4 | - | €1,147 | +€1,147 | |
| Taxes, remuneration and social security | 45 | - | €1,580 | +€1,580 | |
| Taxes | 450/3 | - | €1,580 | +€1,580 | |
| Other amounts payable | 47/48 | €120,845 | €845 | -€120,000 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,073 | €39,073 | = | 0.0% |
| Other operating charges | 640/8 | €2,942 | €3,033 | +€91 | +3.1% |
| Gross operating margin | 9900 | €88,306 | €93,374 | +€5,068 | +5.7% |
| Operating profit (loss) | 9901 | €46,290 | €51,267 | +€4,977 | +10.8% |
| Financial income | 75/76B | €1,184 | €3,498 | +€2,314 | +195.5% |
| Recurring financial income | 75 | €1,184 | €3,498 | +€2,314 | +195.5% |
| Financial charges | 65/66B | €8,401 | €8,061 | -€340 | -4.0% |
| Recurring financial charges | 65 | €8,401 | €8,061 | -€340 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €39,073 | €46,704 | +€7,631 | +19.5% |
| Income taxes | 67/77 | €9,675 | €11,703 | +€2,027 | +21.0% |
| Profit (loss) for the period | 9904 | €29,397 | €35,001 | +€5,604 | +19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €29,397 | €35,001 | +€5,604 | +19.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.