RACING HENK: 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.
RACING HENK
Largest movements
- Tangible fixed assets +€81,202
up €81,202 (+13.1%), from €620,403 to €701,606
of which Land and buildings: +€78,299
- Cash -€34,701
down €34,701 (-96.1%), from €36,110 to €1,409
mainly Investment in fixed assets (net) (-€110,220) and Debts after one year (-€20,618)
- Receivables within one year -€10,466
down €10,466 (-22.6%), from €46,261 to €35,795
of which Trade receivables: -€6,512
- Reserves +€21,582
up €21,582 (+6.7%), from €321,220 to €342,802
- Debts after one year -€20,618
down €20,618 (-8.9%), from €232,418 to €211,800
- Trade debts +€18,256
up €18,256 (+140%), from €13,062 to €31,319
- Tax, wage and social debts +€13,091
up €13,091 (+277%), from €4,719 to €17,810
- Other operating charges +€22,215
up €22,215 (+412%), from €5,387 to €27,603
- Gross operating margin +€10,706
up €10,706 (+12.8%), from €83,630 to €94,337
- Taxes +€6,499
up €6,499 (+138%), from €4,719 to €11,218
- Depreciation +€3,073
up €3,073 (+11.8%), from €25,945 to €29,018
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 | €703,082 | €738,983 | +€35,902 | +5.1% |
| Fixed assets | 21/28 | €620,403 | €701,606 | +€81,202 | +13.1% |
| Tangible fixed assets | 22/27 | €620,403 | €701,606 | +€81,202 | +13.1% |
| Land and buildings | 22 | €598,075 | €676,374 | +€78,299 | +13.1% |
| Plant, machinery and equipment | 23 | €5,179 | €4,373 | -€806 | -15.6% |
| Furniture and vehicles | 24 | €17,149 | €20,858 | +€3,709 | +21.6% |
| Current assets | 29/58 | €82,678 | €37,378 | -€45,301 | -54.8% |
| Amounts receivable within one year | 40/41 | €46,261 | €35,795 | -€10,466 | -22.6% |
| Trade receivables | 40 | €38,618 | €32,107 | -€6,512 | -16.9% |
| Other amounts receivable | 41 | €7,643 | €3,688 | -€3,955 | -51.7% |
| Cash at bank and in hand | 54/58 | €36,110 | €1,409 | -€34,701 | -96.1% |
| Deferred charges and accrued income | 490/1 | €307 | €174 | -€133 | -43.3% |
| Total equity and liabilities | 10/49 | €703,082 | €738,983 | +€35,902 | +5.1% |
| Equity | 10/15 | €339,056 | €361,402 | +€22,345 | +6.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €321,220 | €342,802 | +€21,582 | +6.7% |
| Distributable reserves | 133 | €321,220 | €342,802 | +€21,582 | +6.7% |
| Profit (loss) carried forward | 14 | -€764 | - | +€764 | |
| Amounts payable | 17/49 | €364,025 | €377,582 | +€13,556 | +3.7% |
| Amounts payable after more than one year | 17 | €232,418 | €211,800 | -€20,618 | -8.9% |
| Financial debts | 170/4 | €232,418 | €211,800 | -€20,618 | -8.9% |
| Amounts payable within one year | 42/48 | €131,607 | €165,782 | +€34,174 | +26.0% |
| Current portion of amounts payable after more than one year | 42 | €20,318 | €20,618 | +€299 | +1.5% |
| Financial debts | 43 | - | €2,130 | +€2,130 | |
| Credit institutions | 430/8 | - | €2,130 | +€2,130 | |
| Trade debts | 44 | €13,062 | €31,319 | +€18,256 | +140% |
| Suppliers | 440/4 | €13,062 | €31,319 | +€18,256 | +140% |
| Taxes, remuneration and social security | 45 | €4,719 | €17,810 | +€13,091 | +277% |
| Taxes | 450/3 | €4,719 | €17,810 | +€13,091 | +277% |
| Other amounts payable | 47/48 | €93,508 | €93,906 | +€398 | +0.4% |
| Non-recurring operating income | 76A | €1,198 | €0 | -€1,198 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,945 | €29,018 | +€3,073 | +11.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,387 | €27,603 | +€22,215 | +412% |
| Gross operating margin | 9900 | €83,630 | €94,337 | +€10,706 | +12.8% |
| Operating profit (loss) | 9901 | €52,298 | €37,716 | -€14,582 | -27.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €4,300 | €4,917 | +€617 | +14.3% |
| Recurring financial charges | 65 | €4,300 | €4,917 | +€617 | +14.3% |
| Profit (loss) for the period before taxes | 9903 | €47,998 | €32,799 | -€15,199 | -31.7% |
| Income taxes | 67/77 | €4,719 | €11,218 | +€6,499 | +138% |
| Profit (loss) for the period | 9904 | €43,279 | €21,582 | -€21,698 | -50.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,279 | €21,582 | -€21,698 | -50.1% |
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 21 October 2026 via checked.be.