STONE & FIRE: 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.
STONE & FIRE
Largest movements
- Stocks and contracts -€226,350
down €226,350 (-97.1%), from €233,139 to €6,789
- Tangible fixed assets -€37,514
down €37,514 (-35.3%), from €106,155 to €68,641
of which Land and buildings: -€22,479
- Cash -€36,353
down €36,353 (-27.1%), from €134,065 to €97,712
mainly Debts after one year (-€196,152) and Accrued charges and deferred income (-€103,439)
- Receivables within one year -€13,687
down €13,687 (-13.6%), from €100,602 to €86,915
of which Trade receivables: -€18,400
- Intangible fixed assets -€12,270
down €12,270 (-100%), from €12,270 to €0
- Debts after one year -€196,152
down €196,152 (-97.0%), from €202,125 to €5,973
- Accrued charges and deferred income -€103,439
down €103,439 (-100%), from €103,439 to €0
- Trade debts -€37,845
down €37,845 (-35.9%), from €105,375 to €67,530
- Other debts +€29,085
up €29,085 (+171%), from €17,048 to €46,133
- Tax, wage and social debts -€28,126
down €28,126 (-82.4%), from €34,149 to €6,023
of which Remuneration and social security: -€25,805
- Staff costs -€109,166
down €109,166 (-44.0%), from €248,101 to €138,935
- Write-downs +€11,394
up €11,394 (+630%), from €1,808 to €13,201
- Gross operating margin -€6,566
down €6,566 (-2.5%), from €261,161 to €254,595
- Depreciation +€3,965
up €3,965 (+14.5%), from €27,429 to €31,394
- Financial charges +€3,695
up €3,695 (+95.3%), from €3,878 to €7,573
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 | €592,429 | €264,182 | -€328,247 | -55.4% |
| Fixed assets | 21/28 | €118,425 | €68,641 | -€49,784 | -42.0% |
| Intangible fixed assets | 21 | €12,270 | €0 | -€12,270 | -100% |
| Tangible fixed assets | 22/27 | €106,155 | €68,641 | -€37,514 | -35.3% |
| Land and buildings | 22 | €90,956 | €68,477 | -€22,479 | -24.7% |
| Plant, machinery and equipment | 23 | €3,638 | €0 | -€3,638 | -100% |
| Furniture and vehicles | 24 | €8,711 | €164 | -€8,547 | -98.1% |
| Other tangible fixed assets | 26 | €2,850 | €0 | -€2,850 | -100% |
| Current assets | 29/58 | €474,004 | €195,542 | -€278,462 | -58.7% |
| Stocks and contracts in progress | 3 | €233,139 | €6,789 | -€226,350 | -97.1% |
| Stocks | 30/36 | €233,139 | €6,789 | -€226,350 | -97.1% |
| Amounts receivable within one year | 40/41 | €100,602 | €86,915 | -€13,687 | -13.6% |
| Trade receivables | 40 | €74,115 | €55,715 | -€18,400 | -24.8% |
| Other amounts receivable | 41 | €26,487 | €31,201 | +€4,714 | +17.8% |
| Cash at bank and in hand | 54/58 | €134,065 | €97,712 | -€36,353 | -27.1% |
| Deferred charges and accrued income | 490/1 | €6,198 | €4,126 | -€2,072 | -33.4% |
| Total equity and liabilities | 10/49 | €592,429 | €264,182 | -€328,247 | -55.4% |
| Equity | 10/15 | €120,250 | €128,371 | +€8,122 | +6.8% |
| Contributions | 10/11 | €56,200 | €56,200 | = | 0.0% |
| Reserves | 13 | €64,050 | €72,171 | +€8,122 | +12.7% |
| Distributable reserves | 133 | €64,050 | €72,171 | +€8,122 | +12.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €472,179 | €135,811 | -€336,368 | -71.2% |
| Amounts payable after more than one year | 17 | €202,125 | €5,973 | -€196,152 | -97.0% |
| Financial debts | 170/4 | €202,125 | €5,973 | -€196,152 | -97.0% |
| Amounts payable within one year | 42/48 | €166,615 | €129,838 | -€36,777 | -22.1% |
| Current portion of amounts payable after more than one year | 42 | €10,044 | €10,152 | +€108 | +1.1% |
| Trade debts | 44 | €105,375 | €67,530 | -€37,845 | -35.9% |
| Suppliers | 440/4 | €105,375 | €67,530 | -€37,845 | -35.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €34,149 | €6,023 | -€28,126 | -82.4% |
| Taxes | 450/3 | €8,343 | €6,023 | -€2,320 | -27.8% |
| Remuneration and social security | 454/9 | €25,805 | €0 | -€25,805 | -100% |
| Other amounts payable | 47/48 | €17,048 | €46,133 | +€29,085 | +171% |
| Accrued charges and deferred income | 492/3 | €103,439 | €0 | -€103,439 | -100% |
| Non-recurring operating income | 76A | - | €124,047 | +€124,047 | |
| Remuneration, social security and pensions | 62 | €248,101 | €138,935 | -€109,166 | -44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,429 | €31,394 | +€3,965 | +14.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,808 | €13,201 | +€11,394 | +630% |
| Other operating charges | 640/8 | €7,595 | €7,305 | -€290 | -3.8% |
| Non-recurring operating charges | 66A | €823 | €3,104 | +€2,281 | +277% |
| Gross operating margin | 9900 | €261,161 | €254,595 | -€6,566 | -2.5% |
| Operating profit (loss) | 9901 | -€24,595 | €60,656 | +€85,251 | |
| Financial income | 75/76B | €456 | €38 | -€417 | -91.6% |
| Recurring financial income | 75 | €456 | €38 | -€417 | -91.6% |
| Financial charges | 65/66B | €3,878 | €7,573 | +€3,695 | +95.3% |
| Recurring financial charges | 65 | €3,878 | €7,573 | +€3,695 | +95.3% |
| Profit (loss) for the period before taxes | 9903 | -€28,018 | €53,122 | +€81,139 | |
| Income taxes | 67/77 | €360 | €0 | -€360 | -100% |
| Profit (loss) for the period | 9904 | -€28,377 | €53,122 | +€81,499 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,377 | €53,122 | +€81,499 |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.