JEF STONE: 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.
JEF STONE
Largest movements
- Receivables within one year -€114,841
down €114,841 (-50.3%), from €228,480 to €113,639
of which Trade receivables: -€136,611
- Cash +€99,325
up €99,325 (+31.6%), from €314,250 to €413,575
mainly Other debts (+€891,867) and Net result for the year (+€229,727)
- Receivables after one year -€45,000
down €45,000 (-2.9%), from €1.6m to €1.5m
- Other debts +€891,867
up €891,867 (+490.3%), from €181,895 to €1.1m
- Reserves -€883,711
down €883,711 (-41.3%), from €2.1m to €1.3m
of which Distributable reserves: -€883,711
- Tax, wage and social debts -€34,268
down €34,268 (-32.4%), from €105,905 to €71,637
- Gross operating margin -€19,112
down €19,112 (-5.7%), from €333,048 to €313,937
- Taxes -€8,131
down €8,131 (-7.0%), from €116,361 to €108,230
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 | €2,472,476 | €2,423,397 | -€49,079 | -2.0% |
| Fixed assets | 21/28 | €8,957 | €29,313 | +€20,357 | +227.3% |
| Tangible fixed assets | 22/27 | €8,207 | €28,563 | +€20,357 | +248.1% |
| Land and buildings | 22 | €5,404 | €6,078 | +€675 | +12.5% |
| Plant, machinery and equipment | 23 | €0 | €2,154 | +€2,154 | |
| Furniture and vehicles | 24 | €2,803 | €20,331 | +€17,528 | +625.4% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €2,463,519 | €2,394,084 | -€69,435 | -2.8% |
| Amounts receivable after more than one year | 29 | €1,575,000 | €1,530,000 | -€45,000 | -2.9% |
| Trade receivables | 290 | €1,575,000 | €1,530,000 | -€45,000 | -2.9% |
| Stocks and contracts in progress | 3 | €344,151 | €335,582 | -€8,569 | -2.5% |
| Stocks | 30/36 | €344,151 | €335,582 | -€8,569 | -2.5% |
| Amounts receivable within one year | 40/41 | €228,480 | €113,639 | -€114,841 | -50.3% |
| Trade receivables | 40 | €194,841 | €58,230 | -€136,611 | -70.1% |
| Other amounts receivable | 41 | €33,639 | €55,409 | +€21,770 | +64.7% |
| Cash at bank and in hand | 54/58 | €314,250 | €413,575 | +€99,325 | +31.6% |
| Deferred charges and accrued income | 490/1 | €1,638 | €1,288 | -€350 | -21.4% |
| Total equity and liabilities | 10/49 | €2,472,476 | €2,423,397 | -€49,079 | -2.0% |
| Equity | 10/15 | €2,159,196 | €1,275,485 | -€883,711 | -40.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,140,596 | €1,256,885 | -€883,711 | -41.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €451 | €451 | = | 0.0% |
| Distributable reserves | 133 | €2,140,145 | €1,256,434 | -€883,711 | -41.3% |
| Amounts payable | 17/49 | €313,280 | €1,147,912 | +€834,632 | +266.4% |
| Amounts payable within one year | 42/48 | €313,280 | €1,147,912 | +€834,632 | +266.4% |
| Trade debts | 44 | €25,480 | €2,513 | -€22,967 | -90.1% |
| Suppliers | 440/4 | €25,480 | €2,513 | -€22,967 | -90.1% |
| Taxes, remuneration and social security | 45 | €105,905 | €71,637 | -€34,268 | -32.4% |
| Taxes | 450/3 | €105,905 | €71,637 | -€34,268 | -32.4% |
| Other amounts payable | 47/48 | €181,895 | €1,073,762 | +€891,867 | +490.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,682 | €6,081 | +€2,399 | +65.2% |
| Other operating charges | 640/8 | €1,513 | €3,540 | +€2,027 | +134.0% |
| Gross operating margin | 9900 | €333,048 | €313,937 | -€19,112 | -5.7% |
| Operating profit (loss) | 9901 | €327,854 | €304,316 | -€23,538 | -7.2% |
| Financial income | 75/76B | €35,970 | €34,041 | -€1,929 | -5.4% |
| Recurring financial income | 75 | €35,970 | €34,041 | -€1,929 | -5.4% |
| Financial charges | 65/66B | €0 | €400 | +€400 | |
| Recurring financial charges | 65 | €0 | €400 | +€400 | |
| Profit (loss) for the period before taxes | 9903 | €363,824 | €337,957 | -€25,867 | -7.1% |
| Income taxes | 67/77 | €116,361 | €108,230 | -€8,131 | -7.0% |
| Profit (loss) for the period | 9904 | €247,463 | €229,727 | -€17,736 | -7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €247,463 | €229,727 | -€17,736 | -7.2% |
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 8 October 2026 via checked.be.