STONE & PERSPECTIVES: 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 & PERSPECTIVES
Largest movements
- Cash +€393,785
up €393,785 (+1767.9%), from €22,274 to €416,060
mainly Trade debts (+€624,955) and Net result for the year (+€40,960)
- Stocks and contracts +€252,483
up €252,483 (+29.0%), from €870,387 to €1.1m
- Trade debts +€624,955
up €624,955 (+1193.3%), from €52,372 to €677,327
- Reserves +€40,960
up €40,960 (+6.4%), from €637,748 to €678,708
of which Distributable reserves: +€40,960
- Gross operating margin +€30,662
up €30,662 (+72.4%), from €42,357 to €73,019
- Taxes +€8,359
up €8,359 (+100.9%), from €8,282 to €16,641
- Financial charges -€2,386
down €2,386 (-79.0%), from €3,022 to €636
- Other operating charges -€904
down €904 (-11.4%), from €7,923 to €7,019
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 | €910,562 | €1,554,585 | +€644,022 | +70.7% |
| Fixed assets | 21/28 | €14,818 | €6,781 | -€8,036 | -54.2% |
| Tangible fixed assets | 22/27 | €14,818 | €6,781 | -€8,036 | -54.2% |
| Furniture and vehicles | 24 | €14,818 | €6,781 | -€8,036 | -54.2% |
| Current assets | 29/58 | €895,745 | €1,547,803 | +€652,059 | +72.8% |
| Stocks and contracts in progress | 3 | €870,387 | €1,122,870 | +€252,483 | +29.0% |
| Stocks | 30/36 | €870,387 | €1,122,870 | +€252,483 | +29.0% |
| Amounts receivable within one year | 40/41 | €654 | €6,327 | +€5,673 | +867.2% |
| Trade receivables | 40 | €654 | €3,694 | +€3,040 | +464.7% |
| Other amounts receivable | 41 | - | €2,633 | +€2,633 | |
| Cash at bank and in hand | 54/58 | €22,274 | €416,060 | +€393,785 | +1767.9% |
| Deferred charges and accrued income | 490/1 | €2,429 | €2,546 | +€117 | +4.8% |
| Total equity and liabilities | 10/49 | €910,562 | €1,554,585 | +€644,022 | +70.7% |
| Equity | 10/15 | €800,248 | €841,208 | +€40,960 | +5.1% |
| Contributions | 10/11 | €162,500 | €162,500 | = | 0.0% |
| Capital | 10 | €162,500 | €162,500 | = | 0.0% |
| Issued capital | 100 | €162,500 | €162,500 | = | 0.0% |
| Reserves | 13 | €637,748 | €678,708 | +€40,960 | +6.4% |
| Non-distributable reserves | 130/1 | €16,250 | €16,250 | = | 0.0% |
| Legal reserve | 130 | €16,250 | €16,250 | = | 0.0% |
| Distributable reserves | 133 | €621,498 | €662,458 | +€40,960 | +6.6% |
| Amounts payable | 17/49 | €110,314 | €713,377 | +€603,063 | +546.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €110,314 | €713,377 | +€603,063 | +546.7% |
| Current portion of amounts payable after more than one year | 42 | €8,428 | €0 | -€8,428 | -100.0% |
| Financial debts | 43 | €49 | €48 | -€1 | -1.2% |
| Credit institutions | 430/8 | €49 | €0 | -€49 | -100.0% |
| Other loans | 439 | - | €48 | +€48 | |
| Trade debts | 44 | €52,372 | €677,327 | +€624,955 | +1193.3% |
| Suppliers | 440/4 | €52,372 | €677,327 | +€624,955 | +1193.3% |
| Taxes, remuneration and social security | 45 | €45,608 | €32,336 | -€13,272 | -29.1% |
| Taxes | 450/3 | €45,608 | €32,336 | -€13,272 | -29.1% |
| Other amounts payable | 47/48 | €3,858 | €3,666 | -€192 | -5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,036 | €8,036 | -€0 | 0.0% |
| Other operating charges | 640/8 | €7,923 | €7,019 | -€904 | -11.4% |
| Gross operating margin | 9900 | €42,357 | €73,019 | +€30,662 | +72.4% |
| Operating profit (loss) | 9901 | €26,397 | €57,964 | +€31,567 | +119.6% |
| Financial income | 75/76B | €18 | €273 | +€254 | +1409.0% |
| Recurring financial income | 75 | €18 | €273 | +€254 | +1409.0% |
| Financial charges | 65/66B | €3,022 | €636 | -€2,386 | -79.0% |
| Recurring financial charges | 65 | €3,022 | €636 | -€2,386 | -79.0% |
| Profit (loss) for the period before taxes | 9903 | €23,394 | €57,601 | +€34,207 | +146.2% |
| Income taxes | 67/77 | €8,282 | €16,641 | +€8,359 | +100.9% |
| Profit (loss) for the period | 9904 | €15,112 | €40,960 | +€25,848 | +171.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,112 | €40,960 | +€25,848 | +171.0% |
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 9 October 2026 via checked.be.