MS RACING: 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.
MS RACING
Largest movements
- Cash +€8,291
up €8,291 (+40.6%), from €20,404 to €28,695
mainly Debts after one year (+€7,613) and Depreciation (+€1,186)
- Tangible fixed assets -€1,186
down €1,186 (-2.5%), from €46,831 to €45,645
- Debts after one year +€7,613
up €7,613 (+6.9%), from €109,762 to €117,376
- Gross operating margin -€6,443
down €6,443 (-67.5%), from €9,544 to €3,101
- Depreciation -€284
down €284 (-19.3%), from €1,470 to €1,186
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 | €68,170 | €75,282 | +€7,112 | +10.4% |
| Fixed assets | 21/28 | €46,831 | €45,645 | -€1,186 | -2.5% |
| Tangible fixed assets | 22/27 | €46,831 | €45,645 | -€1,186 | -2.5% |
| Land and buildings | 22 | €46,831 | €45,645 | -€1,186 | -2.5% |
| Current assets | 29/58 | €21,338 | €29,637 | +€8,298 | +38.9% |
| Cash at bank and in hand | 54/58 | €20,404 | €28,695 | +€8,291 | +40.6% |
| Deferred charges and accrued income | 490/1 | €934 | €941 | +€7 | +0.8% |
| Total equity and liabilities | 10/49 | €68,170 | €75,282 | +€7,112 | +10.4% |
| Equity | 10/15 | -€41,593 | -€42,094 | -€501 | -1.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,185 | -€60,686 | -€501 | -0.8% |
| Amounts payable | 17/49 | €109,762 | €117,376 | +€7,613 | +6.9% |
| Amounts payable after more than one year | 17 | €109,762 | €117,376 | +€7,613 | +6.9% |
| Financial debts | 170/4 | €109,762 | €117,376 | +€7,613 | +6.9% |
| Amounts payable within one year | 42/48 | €0 | - | = | |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,470 | €1,186 | -€284 | -19.3% |
| Other operating charges | 640/8 | €2,253 | €2,323 | +€71 | +3.1% |
| Gross operating margin | 9900 | €9,544 | €3,101 | -€6,443 | -67.5% |
| Operating profit (loss) | 9901 | €5,821 | -€409 | -€6,231 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €96 | €92 | -€4 | -3.7% |
| Recurring financial charges | 65 | €96 | €92 | -€4 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €5,726 | -€501 | -€6,227 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €5,726 | -€501 | -€6,227 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,726 | -€501 | -€6,227 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.