COMPETITION MOTORS: 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.
COMPETITION MOTORS
Largest movements
- Receivables within one year -€78,284
down €78,284 (-71.4%), from €109,616 to €31,332
of which Trade receivables: -€73,749
- Stocks and contracts -€37,412
down €37,412 (-19.9%), from €188,028 to €150,617
- Cash +€19,158
up €19,158 (+1,174%), from €1,632 to €20,790
mainly Receivables within one year (+€78,284) and Stocks and contracts (+€37,412)
- Profit (loss) carried forward -€42,759
new in 2025: -€42,759
- Trade debts -€39,050
down €39,050 (-84.9%), from €46,000 to €6,950
- Tax, wage and social debts -€31,734
down €31,734 (-92.8%), from €34,213 to €2,479
- Other debts +€22,057
up €22,057 (+16.7%), from €132,365 to €154,422
- Accrued charges and deferred income -€3,070
no longer reported in 2025 (was €3,070)
- Gross operating margin -€113,957
down €113,957, from €78,049 to -€35,908
- Depreciation -€2,186
down €2,186 (-76.3%), from €2,864 to €678
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 | €299,276 | €204,720 | -€94,557 | -31.6% |
| Fixed assets | 21/28 | - | €1,981 | +€1,981 | |
| Tangible fixed assets | 22/27 | - | €1,981 | +€1,981 | |
| Plant, machinery and equipment | 23 | - | €1,981 | +€1,981 | |
| Current assets | 29/58 | €299,276 | €202,739 | -€96,538 | -32.3% |
| Stocks and contracts in progress | 3 | €188,028 | €150,617 | -€37,412 | -19.9% |
| Stocks | 30/36 | €188,028 | €150,617 | -€37,412 | -19.9% |
| Amounts receivable within one year | 40/41 | €109,616 | €31,332 | -€78,284 | -71.4% |
| Trade receivables | 40 | €104,737 | €30,988 | -€73,749 | -70.4% |
| Other amounts receivable | 41 | €4,879 | €344 | -€4,535 | -93.0% |
| Cash at bank and in hand | 54/58 | €1,632 | €20,790 | +€19,158 | +1,174% |
| Total equity and liabilities | 10/49 | €299,276 | €204,720 | -€94,557 | -31.6% |
| Equity | 10/15 | €83,628 | €40,869 | -€42,759 | -51.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Capital | 10 | €15,000 | €15,000 | = | 0.0% |
| Issued capital | 100 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €68,628 | €68,628 | = | 0.0% |
| Distributable reserves | 133 | €68,628 | €68,628 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€42,759 | -€42,759 | |
| Amounts payable | 17/49 | €215,648 | €163,851 | -€51,797 | -24.0% |
| Amounts payable within one year | 42/48 | €212,578 | €163,851 | -€48,727 | -22.9% |
| Trade debts | 44 | €46,000 | €6,950 | -€39,050 | -84.9% |
| Suppliers | 440/4 | €46,000 | €6,950 | -€39,050 | -84.9% |
| Taxes, remuneration and social security | 45 | €34,213 | €2,479 | -€31,734 | -92.8% |
| Taxes | 450/3 | €34,213 | €2,479 | -€31,734 | -92.8% |
| Other amounts payable | 47/48 | €132,365 | €154,422 | +€22,057 | +16.7% |
| Accrued charges and deferred income | 492/3 | €3,070 | - | -€3,070 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,864 | €678 | -€2,186 | -76.3% |
| Other operating charges | 640/8 | €4,890 | €5,013 | +€123 | +2.5% |
| Gross operating margin | 9900 | €78,049 | -€35,908 | -€113,957 | |
| Operating profit (loss) | 9901 | €70,295 | -€41,599 | -€111,894 | |
| Financial income | 75/76B | €57 | €179 | +€122 | +213% |
| Recurring financial income | 75 | €57 | €179 | +€122 | +213% |
| Financial charges | 65/66B | €1,724 | €1,340 | -€385 | -22.3% |
| Recurring financial charges | 65 | €1,724 | €1,340 | -€385 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €68,628 | -€42,759 | -€111,388 | |
| Profit (loss) for the period | 9904 | €68,628 | -€42,759 | -€111,388 | |
| Profit (loss) for the period to be appropriated | 9905 | €68,628 | -€42,759 | -€111,388 |
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 28 October 2026 via checked.be.