HN STONE: 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.
HN STONE
Largest movements
- Tangible fixed assets +€24,275
up €24,275 (+40.3%), from €60,233 to €84,509
of which Plant, machinery and equipment: +€33,191
- Cash -€5,733
down €5,733 (-83.4%), from €6,875 to €1,142
mainly Investment in fixed assets (net) (-€45,167) and Net result for the year (-€10,375)
- Debts after one year +€20,308
up €20,308 (+58.0%), from €35,000 to €55,308
- Profit (loss) carried forward -€10,375
down €10,375 (-51.0%), from €20,352 to €9,976
- Trade debts +€9,738
up €9,738 (+63.7%), from €15,292 to €25,030
- Tax, wage and social debts -€5,193
down €5,193 (-93.0%), from €5,583 to €390
- Advances received +€3,180
new in 2025: €3,180
- Gross operating margin -€38,546
down €38,546 (-74.2%), from €51,946 to €13,401
- Depreciation +€19,553
up €19,553 (+1,460%), from €1,339 to €20,891
- Taxes -€4,871
down €4,871 (-91.3%), from €5,335 to €464
- Other operating charges +€1,583
new in 2025: €1,583
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 | €81,227 | €98,884 | +€17,657 | +21.7% |
| Fixed assets | 21/28 | €60,233 | €84,509 | +€24,275 | +40.3% |
| Tangible fixed assets | 22/27 | €60,233 | €84,509 | +€24,275 | +40.3% |
| Plant, machinery and equipment | 23 | €19,012 | €52,203 | +€33,191 | +175% |
| Furniture and vehicles | 24 | €41,221 | €32,306 | -€8,915 | -21.6% |
| Current assets | 29/58 | €20,993 | €14,375 | -€6,618 | -31.5% |
| Amounts receivable within one year | 40/41 | €14,118 | €13,233 | -€885 | -6.3% |
| Trade receivables | 40 | €8,699 | €7,122 | -€1,577 | -18.1% |
| Other amounts receivable | 41 | €5,419 | €6,111 | +€692 | +12.8% |
| Cash at bank and in hand | 54/58 | €6,875 | €1,142 | -€5,733 | -83.4% |
| Total equity and liabilities | 10/49 | €81,227 | €98,884 | +€17,657 | +21.7% |
| Equity | 10/15 | €25,352 | €14,976 | -€10,375 | -40.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,352 | €9,976 | -€10,375 | -51.0% |
| Amounts payable | 17/49 | €55,875 | €83,908 | +€28,033 | +50.2% |
| Amounts payable after more than one year | 17 | €35,000 | €55,308 | +€20,308 | +58.0% |
| Financial debts | 170/4 | €35,000 | €55,308 | +€20,308 | +58.0% |
| Amounts payable within one year | 42/48 | €20,875 | €28,600 | +€7,725 | +37.0% |
| Trade debts | 44 | €15,292 | €25,030 | +€9,738 | +63.7% |
| Suppliers | 440/4 | €15,292 | €25,030 | +€9,738 | +63.7% |
| Advances received on contracts in progress | 46 | - | €3,180 | +€3,180 | |
| Taxes, remuneration and social security | 45 | €5,583 | €390 | -€5,193 | -93.0% |
| Taxes | 450/3 | €5,583 | €390 | -€5,193 | -93.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,339 | €20,891 | +€19,553 | +1,460% |
| Other operating charges | 640/8 | - | €1,583 | +€1,583 | |
| Gross operating margin | 9900 | €51,946 | €13,401 | -€38,546 | -74.2% |
| Operating profit (loss) | 9901 | €50,608 | -€9,073 | -€59,681 | |
| Financial charges | 65/66B | €921 | €838 | -€83 | -9.0% |
| Recurring financial charges | 65 | €921 | €838 | -€83 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €49,687 | -€9,911 | -€59,598 | |
| Income taxes | 67/77 | €5,335 | €464 | -€4,871 | -91.3% |
| Profit (loss) for the period | 9904 | €44,352 | -€10,375 | -€54,727 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,352 | -€10,375 | -€54,727 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.