MOTOR TREND: 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.
MOTOR TREND
Largest movements
- Tangible fixed assets +€674,774
up €674,774 (+158%), from €426,892 to €1.1m
of which Land and buildings: +€687,516
- Receivables within one year +€417,519
up €417,519 (+3,381%), from €12,351 to €429,870
of which Other amounts receivable: +€346,931
- Debts after one year +€970,622
up €970,622 (+162%), from €598,000 to €1.6m
of which Financial debts: +€970,622
- Trade debts +€68,071
up €68,071 (+151%), from €44,949 to €113,020
- Current portion of long-term debt +€51,170
new in 2025: €51,170
- Gross operating margin -€4,021
down €4,021 (-15.9%), from €25,281 to €21,260
- Depreciation +€3,817
up €3,817 (+25.1%), from €15,208 to €19,025
- Financial charges +€1,777
up €1,777 (+4,086%), from €44 to €1,821
- Other operating charges -€926
down €926 (-33.6%), from €2,759 to €1,832
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 | €497,125 | €1,591,934 | +€1.1m | +220% |
| Fixed assets | 21/28 | €428,242 | €1,112,219 | +€683,977 | +160% |
| Tangible fixed assets | 22/27 | €426,892 | €1,101,666 | +€674,774 | +158% |
| Land and buildings | 22 | €401,294 | €1,088,809 | +€687,516 | +171% |
| Plant, machinery and equipment | 23 | €2,135 | €1,189 | -€946 | -44.3% |
| Furniture and vehicles | 24 | €23,463 | €11,667 | -€11,796 | -50.3% |
| Financial fixed assets | 28 | €1,350 | €10,553 | +€9,203 | +682% |
| Current assets | 29/58 | €68,883 | €479,716 | +€410,832 | +596% |
| Stocks and contracts in progress | 3 | €37,477 | €38,857 | +€1,379 | +3.7% |
| Stocks | 30/36 | €37,477 | €38,857 | +€1,379 | +3.7% |
| Amounts receivable within one year | 40/41 | €12,351 | €429,870 | +€417,519 | +3,381% |
| Trade receivables | 40 | €9,218 | €79,807 | +€70,589 | +766% |
| Other amounts receivable | 41 | €3,132 | €350,063 | +€346,931 | +11,076% |
| Cash at bank and in hand | 54/58 | €18,163 | €10,074 | -€8,089 | -44.5% |
| Deferred charges and accrued income | 490/1 | €893 | €916 | +€23 | +2.6% |
| Total equity and liabilities | 10/49 | €497,125 | €1,591,934 | +€1.1m | +220% |
| Equity | 10/15 | -€147,820 | -€149,036 | -€1,216 | -0.8% |
| Contributions | 10/11 | €375,000 | €375,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€522,820 | -€524,036 | -€1,216 | -0.2% |
| Amounts payable | 17/49 | €644,945 | €1,740,970 | +€1.1m | +170% |
| Amounts payable after more than one year | 17 | €598,000 | €1,568,622 | +€970,622 | +162% |
| Financial debts | 170/4 | - | €970,622 | +€970,622 | |
| Other amounts payable | 178/9 | €598,000 | €598,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €46,695 | €172,349 | +€125,654 | +269% |
| Current portion of amounts payable after more than one year | 42 | - | €51,170 | +€51,170 | |
| Trade debts | 44 | €44,949 | €113,020 | +€68,071 | +151% |
| Suppliers | 440/4 | €44,949 | €113,020 | +€68,071 | +151% |
| Advances received on contracts in progress | 46 | €823 | - | -€823 | |
| Taxes, remuneration and social security | 45 | €500 | €7,486 | +€6,986 | +1,397% |
| Taxes | 450/3 | €500 | €7,486 | +€6,986 | +1,397% |
| Other amounts payable | 47/48 | €423 | €672 | +€249 | +58.9% |
| Accrued charges and deferred income | 492/3 | €250 | - | -€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,208 | €19,025 | +€3,817 | +25.1% |
| Other operating charges | 640/8 | €2,759 | €1,832 | -€926 | -33.6% |
| Gross operating margin | 9900 | €25,281 | €21,260 | -€4,021 | -15.9% |
| Operating profit (loss) | 9901 | €7,314 | €403 | -€6,911 | -94.5% |
| Financial income | 75/76B | €118 | €202 | +€84 | +71.1% |
| Recurring financial income | 75 | €118 | €202 | +€84 | +71.1% |
| Financial charges | 65/66B | €44 | €1,821 | +€1,777 | +4,086% |
| Recurring financial charges | 65 | €44 | €1,821 | +€1,777 | +4,086% |
| Profit (loss) for the period before taxes | 9903 | €7,389 | -€1,216 | -€8,605 | |
| Profit (loss) for the period | 9904 | €7,389 | -€1,216 | -€8,605 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,389 | -€1,216 | -€8,605 |
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 14 October 2026 via checked.be.