STONES: 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.
STONES
Largest movements
- Receivables within one year +€109,402
up €109,402 (+67.7%), from €161,632 to €271,034
of which Other amounts receivable: +€120,625
- Tangible fixed assets -€16,209
down €16,209 (-9.9%), from €164,182 to €147,973
of which Land and buildings: -€9,474
- Cash -€9,152
down €9,152 (-16.1%), from €56,908 to €47,755
mainly Receivables within one year (-€109,402) and Contributions, distributions and other (-€20,000)
- Accrued charges and deferred income +€83,030
new in 2025: €83,030
- Debts after one year -€19,395
down €19,395 (-20.7%), from €93,898 to €74,503
- Reserves +€10,097
up €10,097 (+18.2%), from €55,384 to €65,480
of which Distributable reserves: +€10,097
- Trade debts +€4,680
up €4,680 (+2.5%), from €187,264 to €191,944
- Gross operating margin +€10,968
up €10,968 (+27.2%), from €40,392 to €51,361
- Financial income +€4,405
up €4,405 (+67.8%), from €6,495 to €10,899
- Taxes +€1,590
up €1,590 (+38.2%), from €4,160 to €5,750
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 | €382,722 | €466,763 | +€84,041 | +22.0% |
| Fixed assets | 21/28 | €164,182 | €147,973 | -€16,209 | -9.9% |
| Tangible fixed assets | 22/27 | €164,182 | €147,973 | -€16,209 | -9.9% |
| Land and buildings | 22 | €149,639 | €140,165 | -€9,474 | -6.3% |
| Plant, machinery and equipment | 23 | €1,822 | €1,193 | -€628 | -34.5% |
| Furniture and vehicles | 24 | €12,721 | €6,615 | -€6,106 | -48.0% |
| Current assets | 29/58 | €218,540 | €318,790 | +€100,250 | +45.9% |
| Amounts receivable within one year | 40/41 | €161,632 | €271,034 | +€109,402 | +67.7% |
| Trade receivables | 40 | €14,152 | €2,929 | -€11,223 | -79.3% |
| Other amounts receivable | 41 | €147,480 | €268,105 | +€120,625 | +81.8% |
| Cash at bank and in hand | 54/58 | €56,908 | €47,755 | -€9,152 | -16.1% |
| Total equity and liabilities | 10/49 | €382,722 | €466,763 | +€84,041 | +22.0% |
| Equity | 10/15 | €77,884 | €87,980 | +€10,097 | +13.0% |
| Contributions | 10/11 | €22,500 | €22,500 | = | 0.0% |
| Reserves | 13 | €55,384 | €65,480 | +€10,097 | +18.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €53,384 | €63,480 | +€10,097 | +18.9% |
| Amounts payable | 17/49 | €304,839 | €378,783 | +€73,944 | +24.3% |
| Amounts payable after more than one year | 17 | €93,898 | €74,503 | -€19,395 | -20.7% |
| Financial debts | 170/4 | €93,898 | €74,503 | -€19,395 | -20.7% |
| Amounts payable within one year | 42/48 | €210,941 | €221,250 | +€10,309 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €16,724 | €19,395 | +€2,672 | +16.0% |
| Trade debts | 44 | €187,264 | €191,944 | +€4,680 | +2.5% |
| Suppliers | 440/4 | €187,264 | €191,944 | +€4,680 | +2.5% |
| Taxes, remuneration and social security | 45 | €6,953 | €9,910 | +€2,957 | +42.5% |
| Taxes | 450/3 | €6,953 | €9,910 | +€2,957 | +42.5% |
| Accrued charges and deferred income | 492/3 | - | €83,030 | +€83,030 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,858 | €16,209 | +€351 | +2.2% |
| Other operating charges | 640/8 | €2,637 | €2,927 | +€290 | +11.0% |
| Gross operating margin | 9900 | €40,392 | €51,361 | +€10,968 | +27.2% |
| Operating profit (loss) | 9901 | €21,897 | €32,224 | +€10,327 | +47.2% |
| Financial income | 75/76B | €6,495 | €10,899 | +€4,405 | +67.8% |
| Recurring financial income | 75 | €6,495 | €10,899 | +€4,405 | +67.8% |
| Financial charges | 65/66B | €7,755 | €7,277 | -€479 | -6.2% |
| Recurring financial charges | 65 | €7,755 | €7,277 | -€479 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €20,636 | €35,847 | +€15,211 | +73.7% |
| Income taxes | 67/77 | €4,160 | €5,750 | +€1,590 | +38.2% |
| Profit (loss) for the period | 9904 | €16,477 | €30,097 | +€13,620 | +82.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,477 | €30,097 | +€13,620 | +82.7% |
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.