SHINING STONES: 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.
SHINING STONES
Largest movements
- Formation expenses +€75,000
new in 2025: €75,000
- Stocks and contracts +€70,461
up €70,461 (+407%), from €17,326 to €87,787
- Cash -€64,233
down €64,233 (-85.7%), from €74,986 to €10,753
mainly Investment in fixed assets (net) (-€103,410) and Stocks and contracts (-€70,461)
- Tangible fixed assets +€10,897
new in 2025: €10,897
- Receivables within one year -€2,150
down €2,150 (-89.2%), from €2,410 to €260
of which Trade receivables: -€2,410
- Debts after one year +€68,414
new in 2025: €68,414
- Tax, wage and social debts +€13,976
up €13,976 (+429%), from €3,260 to €17,236
of which Remuneration and social security: +€8,860
- Trade debts +€8,597
up €8,597 (+52.7%), from €16,303 to €24,900
- Profit (loss) carried forward +€3,884
up €3,884 (+24.2%), from €16,069 to €19,953
- Other debts -€3,646
down €3,646 (-16.1%), from €22,600 to €18,954
- Purchases and services -€175,550
down €175,550 (-29.6%), from €592,422 to €416,872
- Turnover -€133,161
down €133,161 (-20.8%), from €639,899 to €506,738
- Gross operating margin +€43,805
up €43,805 (+92.3%), from €47,477 to €91,282
- Staff costs +€18,300
up €18,300 (+45.5%), from €40,201 to €58,501
- Depreciation +€17,513
new in 2025: €17,513
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 | €94,722 | €184,697 | +€89,975 | +95.0% |
| Formation expenses | 20 | - | €75,000 | +€75,000 | |
| Fixed assets | 21/28 | - | €10,897 | +€10,897 | |
| Tangible fixed assets | 22/27 | - | €10,897 | +€10,897 | |
| Land and buildings | 22 | - | €10,897 | +€10,897 | |
| Current assets | 29/58 | €94,722 | €98,800 | +€4,078 | +4.3% |
| Stocks and contracts in progress | 3 | €17,326 | €87,787 | +€70,461 | +407% |
| Stocks | 30/36 | €17,326 | €87,787 | +€70,461 | +407% |
| Amounts receivable within one year | 40/41 | €2,410 | €260 | -€2,150 | -89.2% |
| Trade receivables | 40 | €2,410 | - | -€2,410 | |
| Other amounts receivable | 41 | - | €260 | +€260 | |
| Cash at bank and in hand | 54/58 | €74,986 | €10,753 | -€64,233 | -85.7% |
| Total equity and liabilities | 10/49 | €94,722 | €184,697 | +€89,975 | +95.0% |
| Equity | 10/15 | €51,309 | €55,193 | +€3,884 | +7.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €29,040 | €29,040 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,040 | €2,040 | = | 0.0% |
| Legal reserve | 130 | €2,040 | - | -€2,040 | |
| Reserves not available under the articles | 1311 | - | €2,040 | +€2,040 | |
| Tax-exempt reserves | 132 | €27,000 | €27,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,069 | €19,953 | +€3,884 | +24.2% |
| Amounts payable | 17/49 | €43,413 | €129,504 | +€86,091 | +198% |
| Amounts payable after more than one year | 17 | - | €68,414 | +€68,414 | |
| Financial debts | 170/4 | - | €68,414 | +€68,414 | |
| Amounts payable within one year | 42/48 | €43,413 | €61,090 | +€17,677 | +40.7% |
| Financial debts | 43 | €1,250 | - | -€1,250 | |
| Credit institutions | 430/8 | €1,250 | - | -€1,250 | |
| Trade debts | 44 | €16,303 | €24,900 | +€8,597 | +52.7% |
| Suppliers | 440/4 | €16,303 | €24,900 | +€8,597 | +52.7% |
| Taxes, remuneration and social security | 45 | €3,260 | €17,236 | +€13,976 | +429% |
| Taxes | 450/3 | €3,190 | €8,306 | +€5,116 | +160% |
| Remuneration and social security | 454/9 | €70 | €8,930 | +€8,860 | +12,657% |
| Other amounts payable | 47/48 | €22,600 | €18,954 | -€3,646 | -16.1% |
| Turnover | 70 | €639,899 | €506,738 | -€133,161 | -20.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €592,422 | €416,872 | -€175,550 | -29.6% |
| Remuneration, social security and pensions | 62 | €40,201 | €58,501 | +€18,300 | +45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €17,513 | +€17,513 | |
| Other operating charges | 640/8 | €3,223 | €4,834 | +€1,611 | +50.0% |
| Gross operating margin | 9900 | €47,477 | €91,282 | +€43,805 | +92.3% |
| Operating profit (loss) | 9901 | €4,053 | €10,434 | +€6,381 | +157% |
| Financial charges | 65/66B | €6 | €5,254 | +€5,248 | +87,467% |
| Recurring financial charges | 65 | €6 | €5,254 | +€5,248 | +87,467% |
| Profit (loss) for the period before taxes | 9903 | €4,047 | €5,180 | +€1,133 | +28.0% |
| Income taxes | 67/77 | - | €1,295 | +€1,295 | |
| Profit (loss) for the period | 9904 | €4,047 | €3,885 | -€162 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,047 | €3,885 | -€162 | -4.0% |
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 28 October 2026 via checked.be.