GOTRACE: 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.
GOTRACE
Largest movements
- Cash +€19,432
up €19,432 (+14.5%), from €133,869 to €153,301
mainly Net result for the year (+€27,823) and Depreciation (+€18,567)
- Current investments +€15,389
new in 2025: €15,389
- Receivables within one year -€13,963
down €13,963 (-30.0%), from €46,508 to €32,545
of which Other amounts receivable: -€7,704
- Intangible fixed assets -€6,876
down €6,876 (-61.7%), from €11,146 to €4,270
- Tangible fixed assets -€6,715
down €6,715 (-18.1%), from €37,116 to €30,401
of which Furniture and vehicles: -€9,437
- Debts after one year -€6,878
down €6,878 (-43.4%), from €15,850 to €8,972
- Trade debts +€6,860
up €6,860 (+115.2%), from €5,953 to €12,813
- Other debts +€3,837
up €3,837 (+14.6%), from €26,261 to €30,098
- Investment grants -€3,000
down €3,000 (-66.7%), from €4,500 to €1,500
- Depreciation -€4,353
down €4,353 (-19.0%), from €22,920 to €18,567
- Taxes +€3,610
up €3,610 (+36.6%), from €9,863 to €13,473
- Gross operating margin +€1,883
up €1,883 (+3.4%), from €55,546 to €57,429
- Financial income +€1,085
up €1,085 (+33.1%), from €3,276 to €4,361
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 | €234,499 | €236,677 | +€2,178 | +0.9% |
| Fixed assets | 21/28 | €48,262 | €34,671 | -€13,591 | -28.2% |
| Intangible fixed assets | 21 | €11,146 | €4,270 | -€6,876 | -61.7% |
| Tangible fixed assets | 22/27 | €37,116 | €30,401 | -€6,715 | -18.1% |
| Plant, machinery and equipment | 23 | €581 | €382 | -€199 | -34.3% |
| Furniture and vehicles | 24 | €29,188 | €19,751 | -€9,437 | -32.3% |
| Other tangible fixed assets | 26 | €7,347 | €10,268 | +€2,921 | +39.8% |
| Current assets | 29/58 | €186,237 | €202,006 | +€15,769 | +8.5% |
| Amounts receivable within one year | 40/41 | €46,508 | €32,545 | -€13,963 | -30.0% |
| Trade receivables | 40 | €31,866 | €25,607 | -€6,259 | -19.6% |
| Other amounts receivable | 41 | €14,642 | €6,938 | -€7,704 | -52.6% |
| Current investments | 50/53 | - | €15,389 | +€15,389 | |
| Cash at bank and in hand | 54/58 | €133,869 | €153,301 | +€19,432 | +14.5% |
| Deferred charges and accrued income | 490/1 | €5,860 | €771 | -€5,089 | -86.8% |
| Total equity and liabilities | 10/49 | €234,499 | €236,677 | +€2,178 | +0.9% |
| Equity | 10/15 | €157,929 | €154,612 | -€3,317 | -2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €132,510 | €132,120 | -€390 | -0.3% |
| Distributable reserves | 133 | €132,510 | €132,120 | -€390 | -0.3% |
| Profit (loss) carried forward | 14 | €2,319 | €2,392 | +€73 | +3.1% |
| Investment grants | 15 | €4,500 | €1,500 | -€3,000 | -66.7% |
| Amounts payable | 17/49 | €76,570 | €82,065 | +€5,495 | +7.2% |
| Amounts payable after more than one year | 17 | €15,850 | €8,972 | -€6,878 | -43.4% |
| Financial debts | 170/4 | €15,850 | €8,972 | -€6,878 | -43.4% |
| Amounts payable within one year | 42/48 | €60,594 | €71,882 | +€11,288 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €7,941 | €7,497 | -€444 | -5.6% |
| Trade debts | 44 | €5,953 | €12,813 | +€6,860 | +115.2% |
| Suppliers | 440/4 | €5,953 | €12,813 | +€6,860 | +115.2% |
| Taxes, remuneration and social security | 45 | €20,439 | €21,474 | +€1,035 | +5.1% |
| Taxes | 450/3 | €19,239 | €19,374 | +€135 | +0.7% |
| Remuneration and social security | 454/9 | €1,200 | €2,100 | +€900 | +75.0% |
| Other amounts payable | 47/48 | €26,261 | €30,098 | +€3,837 | +14.6% |
| Accrued charges and deferred income | 492/3 | €126 | €1,211 | +€1,085 | +861.1% |
| Non-recurring operating income | 76A | €7 | - | -€7 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,920 | €18,567 | -€4,353 | -19.0% |
| Other operating charges | 640/8 | €857 | €1,120 | +€263 | +30.7% |
| Non-recurring operating charges | 66A | €1 | - | -€1 | |
| Gross operating margin | 9900 | €55,546 | €57,429 | +€1,883 | +3.4% |
| Operating profit (loss) | 9901 | €31,768 | €37,742 | +€5,974 | +18.8% |
| Financial income | 75/76B | €3,276 | €4,361 | +€1,085 | +33.1% |
| Recurring financial income | 75 | €3,276 | €4,361 | +€1,085 | +33.1% |
| Financial charges | 65/66B | €870 | €807 | -€63 | -7.2% |
| Recurring financial charges | 65 | €870 | €807 | -€63 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €34,174 | €41,296 | +€7,122 | +20.8% |
| Income taxes | 67/77 | €9,863 | €13,473 | +€3,610 | +36.6% |
| Profit (loss) for the period | 9904 | €24,311 | €27,823 | +€3,512 | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,311 | €27,823 | +€3,512 | +14.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.