RACINE: 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.
RACINE
Largest movements
- Receivables after one year -€42,000
down €42,000 (-18.2%), from €231,000 to €189,000
- Cash +€16,282
up €16,282 (+8.2%), from €198,294 to €214,575
mainly Receivables after one year (+€42,000) and Depreciation (+€8,492)
- Current investments +€13,449
up €13,449 (+4.5%), from €295,762 to €309,210
- Tax, wage and social debts -€10,618
down €10,618 (-100.0%), from €10,618 to €0
- Gross operating margin -€38,367
down €38,367, from €34,429 to -€3,938
- Financial income -€11,608
down €11,608 (-49.7%), from €23,367 to €11,758
- Taxes -€10,818
down €10,818 (-100.0%), from €10,818 to €0
- Financial charges -€1,409
down €1,409 (-57.0%), from €2,474 to €1,065
- Other operating charges +€1,116
up €1,116 (+27.2%), from €4,095 to €5,211
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 | €892,419 | €876,934 | -€15,484 | -1.7% |
| Fixed assets | 21/28 | €146,686 | €138,195 | -€8,492 | -5.8% |
| Tangible fixed assets | 22/27 | €136,487 | €127,995 | -€8,492 | -6.2% |
| Land and buildings | 22 | €132,523 | €124,453 | -€8,070 | -6.1% |
| Plant, machinery and equipment | 23 | €3,964 | €3,542 | -€421 | -10.6% |
| Financial fixed assets | 28 | €10,199 | €10,199 | = | 0.0% |
| Current assets | 29/58 | €745,732 | €738,740 | -€6,992 | -0.9% |
| Amounts receivable after more than one year | 29 | €231,000 | €189,000 | -€42,000 | -18.2% |
| Other amounts receivable | 291 | €231,000 | €189,000 | -€42,000 | -18.2% |
| Amounts receivable within one year | 40/41 | €6,023 | €10,869 | +€4,846 | +80.5% |
| Trade receivables | 40 | €4,540 | €290 | -€4,250 | -93.6% |
| Other amounts receivable | 41 | €1,483 | €10,579 | +€9,096 | +613.2% |
| Current investments | 50/53 | €295,762 | €309,210 | +€13,449 | +4.5% |
| Cash at bank and in hand | 54/58 | €198,294 | €214,575 | +€16,282 | +8.2% |
| Deferred charges and accrued income | 490/1 | €14,654 | €15,085 | +€431 | +2.9% |
| Total equity and liabilities | 10/49 | €892,419 | €876,934 | -€15,484 | -1.7% |
| Equity | 10/15 | €881,372 | €874,424 | -€6,948 | -0.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €422,035 | €415,087 | -€6,948 | -1.6% |
| Tax-exempt reserves | 132 | €28,014 | €28,014 | = | 0.0% |
| Distributable reserves | 133 | €394,021 | €387,073 | -€6,948 | -1.8% |
| Profit (loss) carried forward | 14 | €440,745 | €440,745 | = | 0.0% |
| Amounts payable | 17/49 | €11,046 | €2,510 | -€8,536 | -77.3% |
| Amounts payable within one year | 42/48 | €11,020 | €1,907 | -€9,113 | -82.7% |
| Trade debts | 44 | €402 | €1,907 | +€1,505 | +374.1% |
| Suppliers | 440/4 | €402 | €1,907 | +€1,505 | +374.1% |
| Taxes, remuneration and social security | 45 | €10,618 | €0 | -€10,618 | -100.0% |
| Taxes | 450/3 | €10,618 | €0 | -€10,618 | -100.0% |
| Accrued charges and deferred income | 492/3 | €26 | €603 | +€577 | +2222.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,924 | €8,492 | -€433 | -4.8% |
| Other operating charges | 640/8 | €4,095 | €5,211 | +€1,116 | +27.2% |
| Gross operating margin | 9900 | €34,429 | -€3,938 | -€38,367 | |
| Operating profit (loss) | 9901 | €21,409 | -€17,641 | -€39,050 | |
| Financial income | 75/76B | €23,367 | €11,758 | -€11,608 | -49.7% |
| Recurring financial income | 75 | €23,367 | €11,758 | -€11,608 | -49.7% |
| Financial charges | 65/66B | €2,474 | €1,065 | -€1,409 | -57.0% |
| Recurring financial charges | 65 | €2,474 | €1,065 | -€1,409 | -57.0% |
| Profit (loss) for the period before taxes | 9903 | €42,301 | -€6,948 | -€49,249 | |
| Income taxes | 67/77 | €10,818 | €0 | -€10,818 | -100.0% |
| Profit (loss) for the period | 9904 | €31,483 | -€6,948 | -€38,431 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,483 | -€6,948 | -€38,431 |
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 7 October 2026 via checked.be.