STONEHENGE VC: 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.
What changed
STONEHENGE VC
NACE 46.120, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€135,546
2024 · -€334,952+€470,499
Equity
€1.6m
2024 · €1.5m+€135,546
Cash
€26,992
2024 · €20,162+€6,830
Balance sheet total
€3.8m
2024 · €4.0m-€256,133
Largest movements
Assets
- Tangible fixed assets -€104,211
down €104,211 (-7.2%), from €1.4m to €1.3m
of which Furniture and vehicles: -€73,535
- Receivables within one year -€68,064
down €68,064 (-2.8%), from €2.4m to €2.4m
of which Trade receivables: -€152,508
- Deferred charges and accrued income -€45,930
down €45,930 (-89.3%), from €51,425 to €5,495
- Financial fixed assets -€44,758
down €44,758 (-63.7%), from €70,236 to €25,478
Equity and liabilities
- Trade debts -€260,495
down €260,495 (-18.4%), from €1.4m to €1.2m
- Reserves +€135,546
up €135,546 (+11.3%), from €1.2m to €1.3m
of which Distributable reserves: +€135,546
- Other debts -€125,945
down €125,945 (-63.6%), from €198,074 to €72,129
- Debts after one year -€67,442
down €67,442 (-7.8%), from €869,271 to €801,829
- Tax, wage and social debts +€61,620
new in 2025: €61,620
of which Taxes: +€57,887
Income statement
- Turnover -€752,444
down €752,444 (-72.1%), from €1.0m to €291,789
- Goods and materials -€600,497
down €600,497 (-90.1%), from €666,747 to €66,250
- Services and other goods -€402,452
down €402,452 (-66.5%), from €604,876 to €202,425
- Staff costs +€51,652
new in 2025: €51,652
- Other operating charges +€31,344
up €31,344 (+117%), from €26,813 to €58,157
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.
Result 2024
-€334,952
Turnover
-€752,444
Other operating income
+€18,826
Goods and materials
+€600,497
Services and other goods
+€402,452
Staff costs
-€51,652
Depreciation
+€26,501
Other operating charges
-€31,344
Other operating items
+€283,412
Financial income
-€12,350
Financial charges
-€13,400
Result 2025
€135,546
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€23,032
Investment
+€90,993
Financing
-€61,132
Cash 2024
€20,162
From operations (derived)
-€23,032
Net result for the year
+€135,546
Depreciation
+€57,975
Receivables within one year
+€68,064
Deferred charges and accrued income
+€45,930
Trade debts
-€260,495
Tax, wage and social debts
+€61,620
Other debts
-€125,945
Accrued charges and deferred income
-€5,728
Investment (derived)
+€90,993
Investment in fixed assets (net)
+€90,993
Financing
-€61,132
Debts after one year
-€67,442
Current portion of long-term debt
+€6,310
Cash 2025
€26,992
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,046,335 | €3,790,202 | -€256,133 | -6.3% |
| Fixed assets | 21/28 | €1,519,174 | €1,370,206 | -€148,968 | -9.8% |
| Tangible fixed assets | 22/27 | €1,448,938 | €1,344,728 | -€104,211 | -7.2% |
| Land and buildings | 22 | €1,317,627 | €1,286,951 | -€30,676 | -2.3% |
| Furniture and vehicles | 24 | €131,311 | €57,776 | -€73,535 | -56.0% |
| Financial fixed assets | 28 | €70,236 | €25,478 | -€44,758 | -63.7% |
| Other financial fixed assets | 284/8 | €70,236 | €25,478 | -€44,758 | -63.7% |
| Amounts receivable and cash guarantees | 285/8 | €70,236 | €25,478 | -€44,758 | -63.7% |
| Current assets | 29/58 | €2,527,161 | €2,419,996 | -€107,164 | -4.2% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,435,574 | €2,367,510 | -€68,064 | -2.8% |
| Trade receivables | 40 | €1,526,795 | €1,374,287 | -€152,508 | -10.0% |
| Other amounts receivable | 41 | €908,779 | €993,223 | +€84,444 | +9.3% |
| Cash at bank and in hand | 54/58 | €20,162 | €26,992 | +€6,830 | +33.9% |
| Deferred charges and accrued income | 490/1 | €51,425 | €5,495 | -€45,930 | -89.3% |
| Total equity and liabilities | 10/49 | €4,046,335 | €3,790,202 | -€256,133 | -6.3% |
| Equity | 10/15 | €1,488,380 | €1,623,927 | +€135,546 | +9.1% |
| Contributions | 10/11 | €293,880 | €293,880 | = | 0.0% |
| Reserves | 13 | €1,194,500 | €1,330,047 | +€135,546 | +11.3% |
| Non-distributable reserves | 130/1 | €29,388 | €29,388 | = | 0.0% |
| Reserves not available under the articles | 1311 | €29,388 | €29,388 | = | 0.0% |
| Tax-exempt reserves | 132 | €153,667 | €153,667 | = | 0.0% |
| Distributable reserves | 133 | €1,011,445 | €1,146,992 | +€135,546 | +13.4% |
| Amounts payable | 17/49 | €2,557,954 | €2,166,275 | -€391,679 | -15.3% |
| Amounts payable after more than one year | 17 | €869,271 | €801,829 | -€67,442 | -7.8% |
| Financial debts | 170/4 | €869,271 | €801,829 | -€67,442 | -7.8% |
| Credit institutions | 173 | €869,271 | €801,829 | -€67,442 | -7.8% |
| Amounts payable within one year | 42/48 | €1,674,519 | €1,356,010 | -€318,509 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €61,035 | €67,345 | +€6,310 | +10.3% |
| Trade debts | 44 | €1,415,410 | €1,154,915 | -€260,495 | -18.4% |
| Suppliers | 440/4 | €1,415,410 | €1,154,915 | -€260,495 | -18.4% |
| Taxes, remuneration and social security | 45 | - | €61,620 | +€61,620 | |
| Taxes | 450/3 | - | €57,887 | +€57,887 | |
| Remuneration and social security | 454/9 | - | €3,733 | +€3,733 | |
| Other amounts payable | 47/48 | €198,074 | €72,129 | -€125,945 | -63.6% |
| Accrued charges and deferred income | 492/3 | €14,164 | €8,436 | -€5,728 | -40.4% |
| Operating income | 70/76A | €1,044,233 | €594,028 | -€450,206 | -43.1% |
| Turnover | 70 | €1,044,233 | €291,789 | -€752,444 | -72.1% |
| Other operating income | 74 | - | €18,826 | +€18,826 | |
| Non-recurring operating income | 76A | - | €283,412 | +€283,412 | |
| Operating charges | 60/66A | €1,382,913 | €436,458 | -€946,454 | -68.4% |
| Goods for resale, raw materials and consumables | 60 | €666,747 | €66,250 | -€600,497 | -90.1% |
| Purchases | 600/8 | €666,747 | €66,250 | -€600,497 | -90.1% |
| Services and other goods | 61 | €604,876 | €202,425 | -€402,452 | -66.5% |
| Remuneration, social security and pensions | 62 | - | €51,652 | +€51,652 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,477 | €57,975 | -€26,501 | -31.4% |
| Other operating charges | 640/8 | €26,813 | €58,157 | +€31,344 | +117% |
| Operating profit (loss) | 9901 | -€338,679 | €157,569 | +€496,249 | |
| Financial income | 75/76B | €58,804 | €46,455 | -€12,350 | -21.0% |
| Recurring financial income | 75 | €58,804 | €46,455 | -€12,350 | -21.0% |
| Income from financial fixed assets | 750 | €3,917 | €2,552 | -€1,365 | -34.8% |
| Income from current assets | 751 | €16,598 | €28,042 | +€11,444 | +69.0% |
| Other financial income | 752/9 | €38,290 | €15,861 | -€22,429 | -58.6% |
| Financial charges | 65/66B | €55,077 | €68,478 | +€13,400 | +24.3% |
| Recurring financial charges | 65 | €55,077 | €68,478 | +€13,400 | +24.3% |
| Debt charges | 650 | €40,958 | €43,582 | +€2,624 | +6.4% |
| Other financial charges | 652/9 | €14,119 | €24,896 | +€10,777 | +76.3% |
| Profit (loss) for the period before taxes | 9903 | -€334,952 | €135,546 | +€470,499 | |
| Profit (loss) for the period | 9904 | -€334,952 | €135,546 | +€470,499 | |
| Profit (loss) for the period to be appropriated | 9905 | -€334,952 | €135,546 | +€470,499 |
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 18 October 2026 via checked.be.