Stone Forum: 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 Forum
Largest movements
- Receivables within one year +€124,919
up €124,919 (+247.3%), from €50,514 to €175,434
of which Other amounts receivable: +€114,339
- Tangible fixed assets +€60,839
up €60,839 (+1579.1%), from €3,853 to €64,692
of which Plant, machinery and equipment: +€61,979
- Cash -€42,431
down €42,431 (-32.7%), from €129,841 to €87,411
mainly Receivables within one year (-€124,919) and Investment in fixed assets (net) (-€82,552)
- Deferred charges and accrued income -€23,179
no longer reported in 2025 (was €23,179)
- Debts after one year +€87,905
new in 2025: €87,905
- Other debts +€68,000
new in 2025: €68,000
- Reserves -€50,321
down €50,321 (-25.6%), from €196,338 to €146,017
- Current portion of long-term debt +€8,601
new in 2025: €8,601
- Tax, wage and social debts +€5,964
up €5,964 (+74.1%), from €8,049 to €14,013
of which Taxes: +€5,246
- Depreciation +€19,437
up €19,437 (+854.2%), from €2,276 to €21,713
- Taxes -€10,615
down €10,615 (-60.6%), from €17,527 to €6,912
- Financial charges +€3,645
up €3,645 (+490.6%), from €743 to €4,388
- Gross operating margin -€2,678
down €2,678 (-4.0%), from €66,183 to €63,505
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €207,387 | €327,536 | +€120,149 | +57.9% |
| Fixed assets | 21/28 | €3,853 | €64,692 | +€60,839 | +1579.1% |
| Tangible fixed assets | 22/27 | €3,853 | €64,692 | +€60,839 | +1579.1% |
| Plant, machinery and equipment | 23 | €1,183 | €63,162 | +€61,979 | +5240.3% |
| Furniture and vehicles | 24 | €2,670 | €1,530 | -€1,140 | -42.7% |
| Current assets | 29/58 | €203,534 | €262,844 | +€59,310 | +29.1% |
| Amounts receivable within one year | 40/41 | €50,514 | €175,434 | +€124,919 | +247.3% |
| Trade receivables | 40 | €26,105 | €36,686 | +€10,581 | +40.5% |
| Other amounts receivable | 41 | €24,409 | €138,748 | +€114,339 | +468.4% |
| Cash at bank and in hand | 54/58 | €129,841 | €87,411 | -€42,431 | -32.7% |
| Deferred charges and accrued income | 490/1 | €23,179 | - | -€23,179 | |
| Total equity and liabilities | 10/49 | €207,387 | €327,536 | +€120,149 | +57.9% |
| Equity | 10/15 | €199,338 | €149,017 | -€50,321 | -25.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €196,338 | €146,017 | -€50,321 | -25.6% |
| Distributable reserves | 133 | €196,338 | €146,017 | -€50,321 | -25.6% |
| Amounts payable | 17/49 | €8,049 | €178,519 | +€170,470 | +2117.8% |
| Amounts payable after more than one year | 17 | - | €87,905 | +€87,905 | |
| Financial debts | 170/4 | - | €87,905 | +€87,905 | |
| Amounts payable within one year | 42/48 | €8,049 | €90,614 | +€82,565 | +1025.7% |
| Current portion of amounts payable after more than one year | 42 | - | €8,601 | +€8,601 | |
| Taxes, remuneration and social security | 45 | €8,049 | €14,013 | +€5,964 | +74.1% |
| Taxes | 450/3 | €5,523 | €10,769 | +€5,246 | +95.0% |
| Remuneration and social security | 454/9 | €2,527 | €3,245 | +€718 | +28.4% |
| Other amounts payable | 47/48 | - | €68,000 | +€68,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,276 | €21,713 | +€19,437 | +854.2% |
| Other operating charges | 640/8 | €1,082 | €814 | -€268 | -24.7% |
| Gross operating margin | 9900 | €66,183 | €63,505 | -€2,678 | -4.0% |
| Operating profit (loss) | 9901 | €62,826 | €40,978 | -€21,847 | -34.8% |
| Financial charges | 65/66B | €743 | €4,388 | +€3,645 | +490.6% |
| Recurring financial charges | 65 | €743 | €4,388 | +€3,645 | +490.6% |
| Profit (loss) for the period before taxes | 9903 | €62,083 | €36,590 | -€25,492 | -41.1% |
| Income taxes | 67/77 | €17,527 | €6,912 | -€10,615 | -60.6% |
| Profit (loss) for the period | 9904 | €44,556 | €29,679 | -€14,877 | -33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €44,556 | €29,679 | -€14,877 | -33.4% |
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 9 October 2026 via checked.be.