CARGO RACING: 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.
CARGO RACING
Largest movements
- Tangible fixed assets -€38,280
down €38,280 (-25.6%), from €149,318 to €111,038
of which Plant, machinery and equipment: -€22,499
- Deferred charges and accrued income +€6,861
up €6,861 (+513%), from €1,338 to €8,199
- Debts after one year -€24,081
down €24,081 (-85.4%), from €28,185 to €4,104
- Reserves -€7,838
down €7,838 (-3.0%), from €263,157 to €255,319
- Gross operating margin -€27,017
down €27,017 (-19.4%), from €139,536 to €112,519
- Staff costs +€7,539
up €7,539 (+12.4%), from €60,587 to €68,125
- Taxes -€7,514
down €7,514 (-96.4%), from €7,795 to €281
- Depreciation +€3,336
up €3,336 (+9.5%), from €34,944 to €38,280
- Financial charges +€1,424
up €1,424 (+15.4%), from €9,258 to €10,682
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €381,156 | €348,486 | -€32,670 | -8.6% |
| Fixed assets | 21/28 | €149,318 | €111,038 | -€38,280 | -25.6% |
| Tangible fixed assets | 22/27 | €149,318 | €111,038 | -€38,280 | -25.6% |
| Plant, machinery and equipment | 23 | €93,416 | €70,917 | -€22,499 | -24.1% |
| Furniture and vehicles | 24 | €4,731 | €2,360 | -€2,371 | -50.1% |
| Other tangible fixed assets | 26 | €51,172 | €37,762 | -€13,410 | -26.2% |
| Current assets | 29/58 | €231,838 | €237,448 | +€5,610 | +2.4% |
| Amounts receivable within one year | 40/41 | €7,659 | €8,642 | +€983 | +12.8% |
| Trade receivables | 40 | €680 | €3,194 | +€2,514 | +370% |
| Other amounts receivable | 41 | €6,979 | €5,448 | -€1,531 | -21.9% |
| Cash at bank and in hand | 54/58 | €222,842 | €220,607 | -€2,235 | -1.0% |
| Deferred charges and accrued income | 490/1 | €1,338 | €8,199 | +€6,861 | +513% |
| Total equity and liabilities | 10/49 | €381,156 | €348,486 | -€32,670 | -8.6% |
| Equity | 10/15 | €281,757 | €273,919 | -€7,838 | -2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €263,157 | €255,319 | -€7,838 | -3.0% |
| Distributable reserves | 133 | €263,157 | €255,319 | -€7,838 | -3.0% |
| Amounts payable | 17/49 | €99,399 | €74,568 | -€24,832 | -25.0% |
| Amounts payable after more than one year | 17 | €28,185 | €4,104 | -€24,081 | -85.4% |
| Financial debts | 170/4 | €28,185 | €4,104 | -€24,081 | -85.4% |
| Amounts payable within one year | 42/48 | €71,214 | €70,463 | -€751 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €23,173 | €24,081 | +€908 | +3.9% |
| Trade debts | 44 | €6,217 | €8,029 | +€1,812 | +29.1% |
| Suppliers | 440/4 | €6,217 | €8,029 | +€1,812 | +29.1% |
| Taxes, remuneration and social security | 45 | €10,531 | €7,048 | -€3,483 | -33.1% |
| Taxes | 450/3 | €8,189 | €5,588 | -€2,601 | -31.8% |
| Remuneration and social security | 454/9 | €2,342 | €1,460 | -€882 | -37.7% |
| Other amounts payable | 47/48 | €31,293 | €31,305 | +€12 | 0.0% |
| Non-recurring operating income | 76A | €24,851 | €0 | -€24,851 | -100% |
| Remuneration, social security and pensions | 62 | €60,587 | €68,125 | +€7,539 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,944 | €38,280 | +€3,336 | +9.5% |
| Other operating charges | 640/8 | €3,638 | €3,809 | +€171 | +4.7% |
| Gross operating margin | 9900 | €139,536 | €112,519 | -€27,017 | -19.4% |
| Operating profit (loss) | 9901 | €40,368 | €2,305 | -€38,063 | -94.3% |
| Financial income | 75/76B | €227 | €821 | +€593 | +261% |
| Recurring financial income | 75 | €227 | €821 | +€593 | +261% |
| Financial charges | 65/66B | €9,258 | €10,682 | +€1,424 | +15.4% |
| Recurring financial charges | 65 | €9,258 | €10,682 | +€1,424 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | €31,337 | -€7,557 | -€38,893 | |
| Income taxes | 67/77 | €7,795 | €281 | -€7,514 | -96.4% |
| Profit (loss) for the period | 9904 | €23,541 | -€7,838 | -€31,380 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,541 | -€7,838 | -€31,380 |
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 24 October 2026 via checked.be.