GTS-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.
GTS-RACING
Largest movements
- Tangible fixed assets -€1,633
down €1,633 (-53.1%), from €3,077 to €1,444
of which Furniture and vehicles: -€1,333
- Receivables within one year +€448
up €448 (+16.2%), from €2,762 to €3,210
- Cash -€344
down €344 (-2.6%), from €13,100 to €12,755
mainly Trade debts (-€1,893) and Receivables within one year (-€448)
- Trade debts -€1,893
down €1,893 (-81.0%), from €2,337 to €445
- Profit (loss) carried forward +€210
up €210 (+10.4%), from -€2,027 to -€1,816
- Gross operating margin -€1,263
down €1,263 (-28.7%), from €4,405 to €3,142
- Taxes -€70
down €70 (-13.5%), from €516 to €446
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 | €18,939 | €17,409 | -€1,530 | -8.1% |
| Fixed assets | 21/28 | €3,077 | €1,444 | -€1,633 | -53.1% |
| Tangible fixed assets | 22/27 | €3,077 | €1,444 | -€1,633 | -53.1% |
| Plant, machinery and equipment | 23 | €632 | €333 | -€300 | -47.4% |
| Furniture and vehicles | 24 | €2,444 | €1,111 | -€1,333 | -54.5% |
| Current assets | 29/58 | €15,862 | €15,965 | +€103 | +0.7% |
| Amounts receivable within one year | 40/41 | €2,762 | €3,210 | +€448 | +16.2% |
| Other amounts receivable | 41 | €2,762 | €3,210 | +€448 | +16.2% |
| Cash at bank and in hand | 54/58 | €13,100 | €12,755 | -€344 | -2.6% |
| Total equity and liabilities | 10/49 | €18,939 | €17,409 | -€1,530 | -8.1% |
| Equity | 10/15 | €16,601 | €16,812 | +€210 | +1.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €15,628 | €15,628 | = | 0.0% |
| Distributable reserves | 133 | €15,628 | €15,628 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,027 | -€1,816 | +€210 | +10.4% |
| Amounts payable | 17/49 | €2,337 | €597 | -€1,740 | -74.5% |
| Amounts payable within one year | 42/48 | €2,337 | €597 | -€1,740 | -74.5% |
| Trade debts | 44 | €2,337 | €445 | -€1,893 | -81.0% |
| Suppliers | 440/4 | €2,337 | €445 | -€1,893 | -81.0% |
| Taxes, remuneration and social security | 45 | - | €152 | +€152 | |
| Taxes | 450/3 | - | €152 | +€152 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,633 | €1,633 | = | 0.0% |
| Other operating charges | 640/8 | €799 | €794 | -€5 | -0.6% |
| Gross operating margin | 9900 | €4,405 | €3,142 | -€1,263 | -28.7% |
| Operating profit (loss) | 9901 | €1,973 | €715 | -€1,258 | -63.8% |
| Financial charges | 65/66B | €62 | €58 | -€4 | -5.7% |
| Recurring financial charges | 65 | €62 | €58 | -€4 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €1,911 | €657 | -€1,255 | -65.6% |
| Income taxes | 67/77 | €516 | €446 | -€70 | -13.5% |
| Profit (loss) for the period | 9904 | €1,395 | €210 | -€1,185 | -84.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,395 | €210 | -€1,185 | -84.9% |
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 23 October 2026 via checked.be.