MDA 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.
What changed
MDA STONE
NACE 23.700, Cutting, shaping and finishing of stone
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€75,561
2024 · €851-€76,412
Equity
€748,911
2024 · €828,920-€80,008
Cash
€15,387
2024 · €31,280-€15,893
Balance sheet total
€1.8m
2024 · €1.6m+€115,881
Largest movements
Assets
- Tangible fixed assets +€137,778
up €137,778 (+9.8%), from €1.4m to €1.5m
of which Leasing and similar rights: +€169,837
Equity and liabilities
- Other debts +€79,163
up €79,163 (+579.8%), from €13,654 to €92,818
- Profit (loss) carried forward -€75,561
down €75,561, from €1,329 to -€74,232
- Debts after one year +€62,562
up €62,562 (+15.4%), from €405,917 to €468,479
- Trade debts +€27,969
up €27,969 (+63.3%), from €44,198 to €72,166
Income statement
- Gross operating margin -€88,909
down €88,909 (-32.0%), from €278,249 to €189,341
- Depreciation -€11,475
down €11,475 (-11.2%), from €102,707 to €91,233
- Other operating charges -€6,363
down €6,363 (-42.8%), from €14,857 to €8,494
- Write-downs +€4,013
up €4,013 (+87.9%), from -€4,567 to -€555
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.
Result 2024
€851
Gross operating margin
-€88,909
Staff costs
-€2,308
Depreciation
+€11,475
Write-downs
-€4,013
Other operating charges
+€6,363
Financial income
+€2,655
Financial charges
-€1,676
Result 2025
-€75,561
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.
From operations
+€134,569
Investment
-€223,011
Financing
+€72,548
Cash 2024
€31,280
From operations (derived)
+€134,569
Net result for the year
-€75,561
Depreciation
+€91,233
Stocks and contracts
+€9,885
Receivables within one year
-€8,916
Deferred charges and accrued income
-€966
Trade debts
+€27,969
Tax, wage and social debts
+€15,210
Other debts
+€79,163
Accrued charges and deferred income
-€3,448
Investment (derived)
-€223,011
Investment in fixed assets (net)
-€223,011
Financing
+€72,548
Debts after one year
+€62,562
Current portion of long-term debt
+€14,434
Contributions, distributions and other
-€4,447
Cash 2025
€15,387
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,645,862 | €1,761,743 | +€115,881 | +7.0% |
| Fixed assets | 21/28 | €1,420,669 | €1,552,447 | +€131,778 | +9.3% |
| Intangible fixed assets | 21 | €8,762 | €2,762 | -€6,000 | -68.5% |
| Tangible fixed assets | 22/27 | €1,402,907 | €1,540,685 | +€137,778 | +9.8% |
| Land and buildings | 22 | €1,350,616 | €1,327,441 | -€23,175 | -1.7% |
| Plant, machinery and equipment | 23 | €35,977 | €26,546 | -€9,431 | -26.2% |
| Furniture and vehicles | 24 | €13,163 | €13,710 | +€547 | +4.2% |
| Leasing and similar rights | 25 | €3,151 | €172,988 | +€169,837 | +5390.3% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €225,193 | €209,297 | -€15,897 | -7.1% |
| Stocks and contracts in progress | 3 | €129,728 | €119,843 | -€9,885 | -7.6% |
| Stocks | 30/36 | €129,728 | €119,843 | -€9,885 | -7.6% |
| Amounts receivable within one year | 40/41 | €54,568 | €63,484 | +€8,916 | +16.3% |
| Trade receivables | 40 | €47,347 | €55,310 | +€7,963 | +16.8% |
| Other amounts receivable | 41 | €7,222 | €8,174 | +€952 | +13.2% |
| Cash at bank and in hand | 54/58 | €31,280 | €15,387 | -€15,893 | -50.8% |
| Deferred charges and accrued income | 490/1 | €9,617 | €10,582 | +€966 | +10.0% |
| Total equity and liabilities | 10/49 | €1,645,862 | €1,761,743 | +€115,881 | +7.0% |
| Equity | 10/15 | €828,920 | €748,911 | -€80,008 | -9.7% |
| Contributions | 10/11 | €130,144 | €130,144 | = | 0.0% |
| Capital | 10 | €130,144 | €130,144 | = | 0.0% |
| Issued capital | 100 | €130,144 | €130,144 | = | 0.0% |
| Revaluation surpluses | 12 | €580,000 | €580,000 | = | 0.0% |
| Reserves | 13 | €70,000 | €70,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,000 | €13,000 | = | 0.0% |
| Legal reserve | 130 | €13,000 | €13,000 | = | 0.0% |
| Distributable reserves | 133 | €57,000 | €57,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,329 | -€74,232 | -€75,561 | |
| Investment grants | 15 | €47,446 | €42,999 | -€4,447 | -9.4% |
| Amounts payable | 17/49 | €816,942 | €1,012,832 | +€195,890 | +24.0% |
| Amounts payable after more than one year | 17 | €405,917 | €468,479 | +€62,562 | +15.4% |
| Financial debts | 170/4 | €405,917 | €468,479 | +€62,562 | +15.4% |
| Amounts payable within one year | 42/48 | €402,209 | €538,984 | +€136,776 | +34.0% |
| Current portion of amounts payable after more than one year | 42 | €90,162 | €104,596 | +€14,434 | +16.0% |
| Financial debts | 43 | €225,000 | €225,000 | = | 0.0% |
| Credit institutions | 430/8 | €225,000 | €225,000 | = | 0.0% |
| Trade debts | 44 | €44,198 | €72,166 | +€27,969 | +63.3% |
| Suppliers | 440/4 | €44,198 | €72,166 | +€27,969 | +63.3% |
| Taxes, remuneration and social security | 45 | €29,195 | €44,405 | +€15,210 | +52.1% |
| Taxes | 450/3 | €26,036 | €24,985 | -€1,051 | -4.0% |
| Remuneration and social security | 454/9 | €3,160 | €19,420 | +€16,260 | +514.6% |
| Other amounts payable | 47/48 | €13,654 | €92,818 | +€79,163 | +579.8% |
| Accrued charges and deferred income | 492/3 | €8,816 | €5,369 | -€3,448 | -39.1% |
| Remuneration, social security and pensions | 62 | €134,479 | €136,787 | +€2,308 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,707 | €91,233 | -€11,475 | -11.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,567 | -€555 | +€4,013 | +87.9% |
| Other operating charges | 640/8 | €14,857 | €8,494 | -€6,363 | -42.8% |
| Gross operating margin | 9900 | €278,249 | €189,341 | -€88,909 | -32.0% |
| Operating profit (loss) | 9901 | €30,772 | -€46,619 | -€77,391 | |
| Financial income | 75/76B | €5,153 | €7,808 | +€2,655 | +51.5% |
| Recurring financial income | 75 | €5,153 | €7,808 | +€2,655 | +51.5% |
| Financial charges | 65/66B | €35,075 | €36,750 | +€1,676 | +4.8% |
| Recurring financial charges | 65 | €35,075 | €36,750 | +€1,676 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €851 | -€75,561 | -€76,412 | |
| Profit (loss) for the period | 9904 | €851 | -€75,561 | -€76,412 | |
| Profit (loss) for the period to be appropriated | 9905 | €851 | -€75,561 | -€76,412 |
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 4 October 2026 via checked.be.