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.
Racing
Largest movements
- Receivables within one year +€23,074
up €23,074 (+966.1%), from €2,388 to €25,463
of which Trade receivables: +€14,131
- Tangible fixed assets -€7,983
down €7,983 (-3.0%), from €263,811 to €255,828
of which Land and buildings: -€4,309
- Profit (loss) carried forward +€29,414
up €29,414 (+17.1%), from €172,358 to €201,772
- Debts after one year -€24,241
down €24,241 (-18.8%), from €128,698 to €104,458
- Trade debts +€8,464
up €8,464 (+326.8%), from €2,590 to €11,054
- Gross operating margin -€41,798
down €41,798 (-41.2%), from €101,404 to €59,606
- Other operating charges -€11,968
down €11,968 (-87.0%), from €13,757 to €1,789
- Taxes -€8,447
down €8,447 (-45.6%), from €18,507 to €10,060
- Financial income +€4,234
up €4,234 (+428.5%), from €988 to €5,222
- Financial charges -€1,573
down €1,573 (-43.6%), from €3,610 to €2,037
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 | €485,047 | €498,548 | +€13,501 | +2.8% |
| Fixed assets | 21/28 | €263,811 | €255,828 | -€7,983 | -3.0% |
| Tangible fixed assets | 22/27 | €263,811 | €255,828 | -€7,983 | -3.0% |
| Land and buildings | 22 | €248,154 | €243,845 | -€4,309 | -1.7% |
| Plant, machinery and equipment | 23 | €11,655 | €8,846 | -€2,809 | -24.1% |
| Furniture and vehicles | 24 | €4,002 | €3,137 | -€865 | -21.6% |
| Current assets | 29/58 | €221,236 | €242,720 | +€21,484 | +9.7% |
| Amounts receivable within one year | 40/41 | €2,388 | €25,463 | +€23,074 | +966.1% |
| Trade receivables | 40 | €1,392 | €15,522 | +€14,131 | +1015.5% |
| Other amounts receivable | 41 | €997 | €9,940 | +€8,944 | +897.2% |
| Current investments | 50/53 | €175,000 | €178,000 | +€3,000 | +1.7% |
| Cash at bank and in hand | 54/58 | €42,978 | €38,356 | -€4,621 | -10.8% |
| Deferred charges and accrued income | 490/1 | €870 | €901 | +€31 | +3.6% |
| Total equity and liabilities | 10/49 | €485,047 | €498,548 | +€13,501 | +2.8% |
| Equity | 10/15 | €327,358 | €356,772 | +€29,414 | +9.0% |
| Contributions | 10/11 | €155,000 | €155,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €172,358 | €201,772 | +€29,414 | +17.1% |
| Amounts payable | 17/49 | €157,689 | €141,777 | -€15,913 | -10.1% |
| Amounts payable after more than one year | 17 | €128,698 | €104,458 | -€24,241 | -18.8% |
| Financial debts | 170/4 | €128,698 | €104,458 | -€24,241 | -18.8% |
| Amounts payable within one year | 42/48 | €28,991 | €37,319 | +€8,328 | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €23,949 | €24,241 | +€292 | +1.2% |
| Trade debts | 44 | €2,590 | €11,054 | +€8,464 | +326.8% |
| Suppliers | 440/4 | €2,590 | €11,054 | +€8,464 | +326.8% |
| Taxes, remuneration and social security | 45 | €2,452 | €2,025 | -€427 | -17.4% |
| Taxes | 450/3 | €2,452 | €2,025 | -€427 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,369 | €21,529 | +€160 | +0.7% |
| Other operating charges | 640/8 | €13,757 | €1,789 | -€11,968 | -87.0% |
| Gross operating margin | 9900 | €101,404 | €59,606 | -€41,798 | -41.2% |
| Operating profit (loss) | 9901 | €66,278 | €36,288 | -€29,990 | -45.2% |
| Financial income | 75/76B | €988 | €5,222 | +€4,234 | +428.5% |
| Recurring financial income | 75 | €988 | €5,222 | +€4,234 | +428.5% |
| Financial charges | 65/66B | €3,610 | €2,037 | -€1,573 | -43.6% |
| Recurring financial charges | 65 | €3,610 | €2,037 | -€1,573 | -43.6% |
| Profit (loss) for the period before taxes | 9903 | €63,656 | €39,474 | -€24,183 | -38.0% |
| Income taxes | 67/77 | €18,507 | €10,060 | -€8,447 | -45.6% |
| Profit (loss) for the period | 9904 | €45,149 | €29,414 | -€15,735 | -34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €45,149 | €29,414 | -€15,735 | -34.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.