LA RACINE: 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.
LA RACINE
Largest movements
- Cash +€169,798
up €169,798 (+1,110%), from €15,295 to €185,094
mainly Other debts (+€341,203) and Depreciation (+€52,559)
- Receivables within one year +€92,101
up €92,101 (+32.1%), from €286,899 to €379,000
of which Other amounts receivable: +€107,101
- Other debts +€341,203
new in 2025: €341,203
- Debts after one year -€48,115
down €48,115 (-27.9%), from €172,426 to €124,311
- Profit (loss) carried forward -€47,297
down €47,297 (-27.6%), from €171,628 to €124,332
- Tax, wage and social debts +€47,084
new in 2025: €47,084
of which Remuneration and social security: +€45,651
- Trade debts -€31,685
down €31,685 (-71.9%), from €44,088 to €12,403
- Staff costs +€40,034
up €40,034 (+2,096%), from €1,910 to €41,944
- Gross operating margin -€32,234
down €32,234 (-30.2%), from €106,909 to €74,676
- Other operating charges -€15,208
down €15,208 (-92.3%), from €16,480 to €1,271
- Taxes +€11,864
up €11,864 (+197%), from €6,020 to €17,884
- Financial charges +€7,892
up €7,892 (+1,867%), from €423 to €8,315
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 | €437,809 | €700,398 | +€262,589 | +60.0% |
| Fixed assets | 21/28 | €135,615 | €136,305 | +€690 | +0.5% |
| Tangible fixed assets | 22/27 | €135,615 | €136,305 | +€690 | +0.5% |
| Plant, machinery and equipment | 23 | €81,135 | €40,568 | -€40,568 | -50.0% |
| Furniture and vehicles | 24 | €46,979 | €88,237 | +€41,258 | +87.8% |
| Other tangible fixed assets | 26 | €7,501 | €7,501 | = | 0.0% |
| Current assets | 29/58 | €302,194 | €564,093 | +€261,899 | +86.7% |
| Amounts receivable within one year | 40/41 | €286,899 | €379,000 | +€92,101 | +32.1% |
| Trade receivables | 40 | €15,000 | - | -€15,000 | |
| Other amounts receivable | 41 | €271,899 | €379,000 | +€107,101 | +39.4% |
| Cash at bank and in hand | 54/58 | €15,295 | €185,094 | +€169,798 | +1,110% |
| Total equity and liabilities | 10/49 | €437,809 | €700,398 | +€262,589 | +60.0% |
| Equity | 10/15 | €181,628 | €134,332 | -€47,297 | -26.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Contributions outside capital | 11 | €10,000 | €10,000 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €171,628 | €124,332 | -€47,297 | -27.6% |
| Amounts payable | 17/49 | €256,181 | €566,066 | +€309,886 | +121% |
| Amounts payable after more than one year | 17 | €172,426 | €124,311 | -€48,115 | -27.9% |
| Financial debts | 170/4 | €172,426 | €124,311 | -€48,115 | -27.9% |
| Amounts payable within one year | 42/48 | €83,755 | €441,756 | +€358,001 | +427% |
| Current portion of amounts payable after more than one year | 42 | €39,667 | €41,066 | +€1,399 | +3.5% |
| Trade debts | 44 | €44,088 | €12,403 | -€31,685 | -71.9% |
| Suppliers | 440/4 | €44,088 | €12,403 | -€31,685 | -71.9% |
| Taxes, remuneration and social security | 45 | - | €47,084 | +€47,084 | |
| Taxes | 450/3 | - | €1,433 | +€1,433 | |
| Remuneration and social security | 454/9 | - | €45,651 | +€45,651 | |
| Other amounts payable | 47/48 | - | €341,203 | +€341,203 | |
| Remuneration, social security and pensions | 62 | €1,910 | €41,944 | +€40,034 | +2,096% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,619 | €52,559 | -€4,060 | -7.2% |
| Other operating charges | 640/8 | €16,480 | €1,271 | -€15,208 | -92.3% |
| Gross operating margin | 9900 | €106,909 | €74,676 | -€32,234 | -30.2% |
| Operating profit (loss) | 9901 | €31,901 | -€21,098 | -€52,999 | |
| Financial charges | 65/66B | €423 | €8,315 | +€7,892 | +1,867% |
| Recurring financial charges | 65 | €423 | €8,315 | +€7,892 | +1,867% |
| Profit (loss) for the period before taxes | 9903 | €31,478 | -€29,413 | -€60,891 | |
| Income taxes | 67/77 | €6,020 | €17,884 | +€11,864 | +197% |
| Profit (loss) for the period | 9904 | €25,458 | -€47,297 | -€72,755 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,458 | -€47,297 | -€72,755 |
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.