Sea Stone: what changed
Sea Stone
Largest movements
- Stocks and contracts +€621,036
up €621,036 (+13.1%), from €4.7m to €5.4m
- Current investments -€400,000
down €400,000 (-50.0%), from €800,000 to €400,000
- Cash -€337,932
down €337,932 (-86.5%), from €390,747 to €52,816
mainly Contributions, distributions and other (-€1.7m) and Stocks and contracts (-€621,036)
- Reserves -€1.8m
down €1.8m (-98.2%), from €1.9m to €32,701
- Other debts +€1.4m
up €1.4m (+210%), from €667,429 to €2.1m
- Debts after one year +€270,297
up €270,297 (+7.8%), from €3.5m to €3.7m
- Gross operating margin -€256,302
down €256,302 (-95.6%), from €267,986 to €11,684
- Financial charges -€34,172
down €34,172 (-17.5%), from €195,096 to €160,924
- Depreciation -€25,002
down €25,002 (-61.9%), from €40,396 to €15,394
- Taxes -€9,361
down €9,361 (-100%), from €9,361 to €0
- Financial income -€4,864
down €4,864 (-95.4%), from €5,100 to €236
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,286,229 | €6,141,895 | -€144,333 | -2.3% |
| Fixed assets | 21/28 | €281,159 | €265,765 | -€15,394 | -5.5% |
| Tangible fixed assets | 22/27 | €281,159 | €265,765 | -€15,394 | -5.5% |
| Land and buildings | 22 | €278,508 | €264,063 | -€14,445 | -5.2% |
| Furniture and vehicles | 24 | €2,651 | €1,702 | -€949 | -35.8% |
| Current assets | 29/58 | €6,005,069 | €5,876,130 | -€128,939 | -2.1% |
| Stocks and contracts in progress | 3 | €4,744,236 | €5,365,272 | +€621,036 | +13.1% |
| Stocks | 30/36 | €4,744,236 | €5,365,272 | +€621,036 | +13.1% |
| Amounts receivable within one year | 40/41 | €69,691 | €58,043 | -€11,648 | -16.7% |
| Other amounts receivable | 41 | €69,691 | €58,043 | -€11,648 | -16.7% |
| Current investments | 50/53 | €800,000 | €400,000 | -€400,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €390,747 | €52,816 | -€337,932 | -86.5% |
| Deferred charges and accrued income | 490/1 | €395 | €0 | -€395 | -100% |
| Total equity and liabilities | 10/49 | €6,286,229 | €6,141,895 | -€144,333 | -2.3% |
| Equity | 10/15 | €2,150,755 | €332,701 | -€1.8m | -84.5% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €1,850,755 | €32,701 | -€1.8m | -98.2% |
| Distributable reserves | 133 | €1,850,755 | €32,701 | -€1.8m | -98.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €4,135,473 | €5,809,194 | +€1.7m | +40.5% |
| Amounts payable after more than one year | 17 | €3,456,942 | €3,727,239 | +€270,297 | +7.8% |
| Financial debts | 170/4 | €3,456,942 | €3,727,239 | +€270,297 | +7.8% |
| Amounts payable within one year | 42/48 | €678,532 | €2,081,955 | +€1.4m | +207% |
| Current portion of amounts payable after more than one year | 42 | €8,853 | €9,183 | +€330 | +3.7% |
| Trade debts | 44 | €1,971 | €2,872 | +€901 | +45.7% |
| Suppliers | 440/4 | €1,971 | €2,872 | +€901 | +45.7% |
| Taxes, remuneration and social security | 45 | €278 | €0 | -€278 | -100% |
| Taxes | 450/3 | €278 | €0 | -€278 | -100% |
| Other amounts payable | 47/48 | €667,429 | €2,069,900 | +€1.4m | +210% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,396 | €15,394 | -€25,002 | -61.9% |
| Other operating charges | 640/8 | €1,094 | €3,656 | +€2,562 | +234% |
| Gross operating margin | 9900 | €267,986 | €11,684 | -€256,302 | -95.6% |
| Operating profit (loss) | 9901 | €226,496 | -€7,366 | -€233,863 | |
| Financial income | 75/76B | €5,100 | €236 | -€4,864 | -95.4% |
| Recurring financial income | 75 | €5,100 | €236 | -€4,864 | -95.4% |
| Financial charges | 65/66B | €195,096 | €160,924 | -€34,172 | -17.5% |
| Recurring financial charges | 65 | €195,096 | €160,924 | -€34,172 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €36,501 | -€168,054 | -€204,555 | |
| Income taxes | 67/77 | €9,361 | €0 | -€9,361 | -100% |
| Profit (loss) for the period | 9904 | €27,140 | -€168,054 | -€195,194 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,140 | -€168,054 | -€195,194 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.