SBS 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.
SBS STONE
Largest movements
- Tangible fixed assets -€245,689
down €245,689 (-97.0%), from €253,334 to €7,645
of which Land and buildings: -€247,081
- Stocks and contracts -€37,597
no longer reported in 2025 (was €37,597)
- Receivables within one year -€16,632
down €16,632 (-81.0%), from €20,523 to €3,891
of which Trade receivables: -€18,881
- Cash +€11,939
up €11,939 (+70.3%), from €16,982 to €28,921
mainly Investment in fixed assets (net) (+€242,594) and Net result for the year (+€51,918)
- Debts after one year -€187,620
no longer reported in 2025 (was €187,620)
- Short-term financial debts -€125,000
no longer reported in 2025 (was €125,000)
- Reserves +€39,429
up €39,429 (+38.2%), from €103,096 to €142,525
- Current portion of long-term debt -€21,410
no longer reported in 2025 (was €21,410)
- Profit (loss) carried forward +€12,489
no longer reported in 2025 (was -€12,489)
- Gross operating margin +€46,432
up €46,432 (+155%), from €29,973 to €76,404
- Taxes +€7,326
up €7,326 (+2,765%), from €265 to €7,591
- Depreciation -€4,831
down €4,831 (-47.3%), from €10,206 to €5,375
- Financial income -€1,084
down €1,084 (-18.1%), from €5,996 to €4,912
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 | €456,726 | €173,555 | -€283,171 | -62.0% |
| Fixed assets | 21/28 | €255,614 | €7,645 | -€247,969 | -97.0% |
| Tangible fixed assets | 22/27 | €253,334 | €7,645 | -€245,689 | -97.0% |
| Land and buildings | 22 | €248,754 | €1,673 | -€247,081 | -99.3% |
| Plant, machinery and equipment | 23 | €4,580 | €4,113 | -€468 | -10.2% |
| Furniture and vehicles | 24 | - | €1,860 | +€1,860 | |
| Financial fixed assets | 28 | €2,280 | - | -€2,280 | |
| Current assets | 29/58 | €201,112 | €165,910 | -€35,202 | -17.5% |
| Amounts receivable after more than one year | 29 | €123,637 | €126,875 | +€3,238 | +2.6% |
| Other amounts receivable | 291 | €123,637 | €126,875 | +€3,238 | +2.6% |
| Stocks and contracts in progress | 3 | €37,597 | - | -€37,597 | |
| Stocks | 30/36 | €37,597 | - | -€37,597 | |
| Amounts receivable within one year | 40/41 | €20,523 | €3,891 | -€16,632 | -81.0% |
| Trade receivables | 40 | €19,073 | €192 | -€18,881 | -99.0% |
| Other amounts receivable | 41 | €1,450 | €3,699 | +€2,249 | +155% |
| Cash at bank and in hand | 54/58 | €16,982 | €28,921 | +€11,939 | +70.3% |
| Deferred charges and accrued income | 490/1 | €2,373 | €6,223 | +€3,851 | +162% |
| Total equity and liabilities | 10/49 | €456,726 | €173,555 | -€283,171 | -62.0% |
| Equity | 10/15 | €103,007 | €154,925 | +€51,918 | +50.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €103,096 | €142,525 | +€39,429 | +38.2% |
| Distributable reserves | 133 | €103,096 | €142,525 | +€39,429 | +38.2% |
| Profit (loss) carried forward | 14 | -€12,489 | - | +€12,489 | |
| Amounts payable | 17/49 | €353,718 | €18,630 | -€335,088 | -94.7% |
| Amounts payable after more than one year | 17 | €187,620 | - | -€187,620 | |
| Financial debts | 170/4 | €187,620 | - | -€187,620 | |
| Amounts payable within one year | 42/48 | €166,098 | €18,630 | -€147,468 | -88.8% |
| Current portion of amounts payable after more than one year | 42 | €21,410 | - | -€21,410 | |
| Financial debts | 43 | €125,000 | - | -€125,000 | |
| Credit institutions | 430/8 | €125,000 | - | -€125,000 | |
| Trade debts | 44 | €16,734 | €10,774 | -€5,959 | -35.6% |
| Suppliers | 440/4 | €16,734 | €10,774 | -€5,959 | -35.6% |
| Taxes, remuneration and social security | 45 | €2,955 | €7,856 | +€4,901 | +166% |
| Taxes | 450/3 | €2,955 | €7,856 | +€4,901 | +166% |
| Non-recurring operating income | 76A | - | €140,906 | +€140,906 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,206 | €5,375 | -€4,831 | -47.3% |
| Other operating charges | 640/8 | €2,437 | €2,996 | +€559 | +22.9% |
| Gross operating margin | 9900 | €29,973 | €76,404 | +€46,432 | +155% |
| Operating profit (loss) | 9901 | €17,329 | €68,033 | +€50,704 | +293% |
| Financial income | 75/76B | €5,996 | €4,912 | -€1,084 | -18.1% |
| Recurring financial income | 75 | €5,996 | €4,912 | -€1,084 | -18.1% |
| Financial charges | 65/66B | €13,901 | €13,437 | -€464 | -3.3% |
| Recurring financial charges | 65 | €13,901 | €13,437 | -€464 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €9,424 | €59,508 | +€50,084 | +531% |
| Income taxes | 67/77 | €265 | €7,591 | +€7,326 | +2,765% |
| Profit (loss) for the period | 9904 | €9,159 | €51,918 | +€42,758 | +467% |
| Profit (loss) for the period to be appropriated | 9905 | €9,159 | €51,918 | +€42,758 | +467% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.