PJ 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.
PJ Racing
Largest movements
- Cash +€115,544
up €115,544 (+197%), from €58,535 to €174,079
mainly Net result for the year (+€106,727) and Depreciation (+€34,186)
- Receivables within one year +€27,680
up €27,680 (+54.9%), from €50,453 to €78,134
of which Trade receivables: +€24,182
- Tangible fixed assets -€25,757
down €25,757 (-19.3%), from €133,664 to €107,907
of which Furniture and vehicles: -€22,890
- Deferred charges and accrued income -€4,541
down €4,541 (-73.3%), from €6,196 to €1,655
- Reserves +€106,727
up €106,727 (+46.0%), from €231,885 to €338,612
- Tax, wage and social debts +€6,229
up €6,229 (+57.1%), from €10,906 to €17,135
of which Remuneration and social security: +€3,399
- Gross operating margin +€17,945
up €17,945 (+9.0%), from €199,250 to €217,195
- Staff costs +€17,037
up €17,037 (+114%), from €14,979 to €32,017
- Depreciation +€15,619
up €15,619 (+84.1%), from €18,568 to €34,186
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.
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 | €248,849 | €361,775 | +€112,927 | +45.4% |
| Fixed assets | 21/28 | €133,664 | €107,907 | -€25,757 | -19.3% |
| Tangible fixed assets | 22/27 | €133,664 | €107,907 | -€25,757 | -19.3% |
| Plant, machinery and equipment | 23 | €6,078 | €3,211 | -€2,867 | -47.2% |
| Furniture and vehicles | 24 | €127,586 | €104,696 | -€22,890 | -17.9% |
| Current assets | 29/58 | €115,185 | €253,868 | +€138,683 | +120% |
| Amounts receivable within one year | 40/41 | €50,453 | €78,134 | +€27,680 | +54.9% |
| Trade receivables | 40 | €8,045 | €32,226 | +€24,182 | +301% |
| Other amounts receivable | 41 | €42,409 | €45,907 | +€3,499 | +8.3% |
| Cash at bank and in hand | 54/58 | €58,535 | €174,079 | +€115,544 | +197% |
| Deferred charges and accrued income | 490/1 | €6,196 | €1,655 | -€4,541 | -73.3% |
| Total equity and liabilities | 10/49 | €248,849 | €361,775 | +€112,927 | +45.4% |
| Equity | 10/15 | €232,885 | €339,612 | +€106,727 | +45.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €231,885 | €338,612 | +€106,727 | +46.0% |
| Distributable reserves | 133 | €231,885 | €338,612 | +€106,727 | +46.0% |
| Amounts payable | 17/49 | €15,964 | €22,164 | +€6,199 | +38.8% |
| Amounts payable within one year | 42/48 | €14,489 | €20,983 | +€6,494 | +44.8% |
| Trade debts | 44 | €1,046 | €1,278 | +€232 | +22.1% |
| Suppliers | 440/4 | €1,046 | €1,278 | +€232 | +22.1% |
| Taxes, remuneration and social security | 45 | €10,906 | €17,135 | +€6,229 | +57.1% |
| Taxes | 450/3 | €8,120 | €10,950 | +€2,831 | +34.9% |
| Remuneration and social security | 454/9 | €2,787 | €6,185 | +€3,399 | +122% |
| Other amounts payable | 47/48 | €2,536 | €2,570 | +€34 | +1.3% |
| Accrued charges and deferred income | 492/3 | €1,475 | €1,180 | -€295 | -20.0% |
| Non-recurring operating income | 76A | €37,800 | €18,900 | -€18,900 | -50.0% |
| Remuneration, social security and pensions | 62 | €14,979 | €32,017 | +€17,037 | +114% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,568 | €34,186 | +€15,619 | +84.1% |
| Other operating charges | 640/8 | €104 | €495 | +€391 | +376% |
| Gross operating margin | 9900 | €199,250 | €217,195 | +€17,945 | +9.0% |
| Operating profit (loss) | 9901 | €165,600 | €150,497 | -€15,102 | -9.1% |
| Financial income | 75/76B | €4 | €8 | +€4 | +92.7% |
| Recurring financial income | 75 | €4 | €8 | +€4 | +92.7% |
| Financial charges | 65/66B | €979 | €453 | -€526 | -53.7% |
| Recurring financial charges | 65 | €979 | €453 | -€526 | -53.7% |
| Profit (loss) for the period before taxes | 9903 | €164,624 | €150,052 | -€14,572 | -8.9% |
| Income taxes | 67/77 | €45,495 | €43,325 | -€2,169 | -4.8% |
| Profit (loss) for the period | 9904 | €119,130 | €106,727 | -€12,403 | -10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €119,130 | €106,727 | -€12,403 | -10.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.