STONE HALL: what changed
Two fiscal 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 HALL
Largest movements
- Receivables within one year +€157,883
up €157,883 (+186.7%), from €84,585 to €242,468
of which Trade receivables: +€147,248
- Stocks and contracts +€12,673
up €12,673 (+13.3%), from €95,623 to €108,296
- Tangible fixed assets +€8,533
up €8,533 (+23.4%), from €36,475 to €45,007
of which Other tangible fixed assets: +€15,822
- Deferred charges and accrued income -€6,138
down €6,138 (-100.0%), from €6,138 to €0
- Reserves +€108,115
up €108,115 (+89.1%), from €121,396 to €229,511
- Trade debts +€44,981
up €44,981 (+78.8%), from €57,060 to €102,040
- Tax, wage and social debts +€21,123
up €21,123 (+99.8%), from €21,170 to €42,293
of which Taxes: +€15,305
- Gross operating margin +€73,191
up €73,191 (+35.1%), from €208,659 to €281,850
- Staff costs +€18,759
up €18,759 (+22.2%), from €84,553 to €103,312
- Taxes +€14,487
up €14,487 (+85.2%), from €17,013 to €31,501
- Other operating charges -€5,819
down €5,819 (-54.5%), from €10,679 to €4,860
- Depreciation +€3,811
up €3,811 (+14.8%), from €25,828 to €29,639
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 | €319,557 | €495,025 | +€175,468 | +54.9% |
| Fixed assets | 21/28 | €51,596 | €65,497 | +€13,901 | +26.9% |
| Intangible fixed assets | 21 | €14,271 | €18,785 | +€4,514 | +31.6% |
| Tangible fixed assets | 22/27 | €36,475 | €45,007 | +€8,533 | +23.4% |
| Plant, machinery and equipment | 23 | €4,354 | €15,832 | +€11,478 | +263.6% |
| Furniture and vehicles | 24 | €32,121 | €13,353 | -€18,768 | -58.4% |
| Other tangible fixed assets | 26 | - | €15,822 | +€15,822 | |
| Financial fixed assets | 28 | €850 | €1,705 | +€855 | +100.6% |
| Current assets | 29/58 | €267,961 | €429,527 | +€161,566 | +60.3% |
| Stocks and contracts in progress | 3 | €95,623 | €108,296 | +€12,673 | +13.3% |
| Stocks | 30/36 | €95,623 | €108,296 | +€12,673 | +13.3% |
| Amounts receivable within one year | 40/41 | €84,585 | €242,468 | +€157,883 | +186.7% |
| Trade receivables | 40 | €75,595 | €222,843 | +€147,248 | +194.8% |
| Other amounts receivable | 41 | €8,990 | €19,624 | +€10,635 | +118.3% |
| Cash at bank and in hand | 54/58 | €81,615 | €78,763 | -€2,852 | -3.5% |
| Deferred charges and accrued income | 490/1 | €6,138 | €0 | -€6,138 | -100.0% |
| Total equity and liabilities | 10/49 | €319,557 | €495,025 | +€175,468 | +54.9% |
| Equity | 10/15 | €136,396 | €244,511 | +€108,115 | +79.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €121,396 | €229,511 | +€108,115 | +89.1% |
| Distributable reserves | 133 | €121,396 | €229,511 | +€108,115 | +89.1% |
| Amounts payable | 17/49 | €183,161 | €250,514 | +€67,353 | +36.8% |
| Amounts payable after more than one year | 17 | €45,274 | €41,789 | -€3,485 | -7.7% |
| Financial debts | 170/4 | €45,274 | €41,789 | -€3,485 | -7.7% |
| Amounts payable within one year | 42/48 | €137,887 | €208,724 | +€70,837 | +51.4% |
| Current portion of amounts payable after more than one year | 42 | €24,743 | €25,322 | +€579 | +2.3% |
| Trade debts | 44 | €57,060 | €102,040 | +€44,981 | +78.8% |
| Suppliers | 440/4 | €57,060 | €102,040 | +€44,981 | +78.8% |
| Taxes, remuneration and social security | 45 | €21,170 | €42,293 | +€21,123 | +99.8% |
| Taxes | 450/3 | €10,730 | €26,035 | +€15,305 | +142.6% |
| Remuneration and social security | 454/9 | €10,440 | €16,258 | +€5,818 | +55.7% |
| Other amounts payable | 47/48 | €34,914 | €39,069 | +€4,155 | +11.9% |
| Non-recurring operating income | 76A | €955 | €0 | -€955 | -100.0% |
| Remuneration, social security and pensions | 62 | €84,553 | €103,312 | +€18,759 | +22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,828 | €29,639 | +€3,811 | +14.8% |
| Other operating charges | 640/8 | €10,679 | €4,860 | -€5,819 | -54.5% |
| Non-recurring operating charges | 66A | €70 | €27 | -€43 | -61.6% |
| Gross operating margin | 9900 | €208,659 | €281,850 | +€73,191 | +35.1% |
| Operating profit (loss) | 9901 | €87,529 | €144,012 | +€56,482 | +64.5% |
| Financial income | 75/76B | €1,953 | €1,420 | -€533 | -27.3% |
| Recurring financial income | 75 | €1,953 | €1,420 | -€533 | -27.3% |
| Financial charges | 65/66B | €7,939 | €5,816 | -€2,123 | -26.7% |
| Recurring financial charges | 65 | €7,939 | €5,816 | -€2,123 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | €81,544 | €139,615 | +€58,072 | +71.2% |
| Income taxes | 67/77 | €17,013 | €31,501 | +€14,487 | +85.2% |
| Profit (loss) for the period | 9904 | €64,530 | €108,115 | +€43,585 | +67.5% |
| Profit (loss) for the period to be appropriated | 9905 | €64,530 | €108,115 | +€43,585 | +67.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.