Racing Projects: 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 Projects
Largest movements
- Tangible fixed assets -€18,694
down €18,694 (-59.1%), from €31,650 to €12,955
of which Furniture and vehicles: -€16,169
- Intangible fixed assets -€6,000
no longer reported in 2025 (was €6,000)
- Cash -€2,009
down €2,009 (-35.9%), from €5,590 to €3,581
mainly Net result for the year (-€30,325) and Trade debts (-€164)
- Profit (loss) carried forward -€30,325
down €30,325 (-29.0%), from -€104,699 to -€135,024
- Other debts +€3,761
up €3,761 (+26.4%), from €14,235 to €17,996
- Depreciation -€10,328
down €10,328 (-29.5%), from €35,022 to €24,694
- Gross operating margin -€7,408
down €7,408, from €3,586 to -€3,822
- Financial charges -€309
down €309 (-79.3%), from €390 to €81
- Other operating charges +€47
up €47 (+2.7%), from €1,732 to €1,779
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 | €44,816 | €18,081 | -€26,735 | -59.7% |
| Fixed assets | 21/28 | €37,670 | €12,975 | -€24,694 | -65.6% |
| Intangible fixed assets | 21 | €6,000 | - | -€6,000 | |
| Tangible fixed assets | 22/27 | €31,650 | €12,955 | -€18,694 | -59.1% |
| Plant, machinery and equipment | 23 | €7,991 | €5,465 | -€2,525 | -31.6% |
| Furniture and vehicles | 24 | €23,659 | €7,490 | -€16,169 | -68.3% |
| Financial fixed assets | 28 | €20 | €20 | = | 0.0% |
| Current assets | 29/58 | €7,147 | €5,105 | -€2,041 | -28.6% |
| Amounts receivable within one year | 40/41 | €1,234 | €1,191 | -€43 | -3.5% |
| Trade receivables | 40 | €695 | €605 | -€90 | -13.0% |
| Other amounts receivable | 41 | €539 | €586 | +€47 | +8.7% |
| Cash at bank and in hand | 54/58 | €5,590 | €3,581 | -€2,009 | -35.9% |
| Deferred charges and accrued income | 490/1 | €323 | €334 | +€11 | +3.5% |
| Total equity and liabilities | 10/49 | €44,816 | €18,081 | -€26,735 | -59.7% |
| Equity | 10/15 | -€100,153 | -€130,478 | -€30,325 | -30.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €1,546 | €1,546 | = | 0.0% |
| Distributable reserves | 133 | €1,546 | €1,546 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€104,699 | -€135,024 | -€30,325 | -29.0% |
| Amounts payable | 17/49 | €144,969 | €148,559 | +€3,590 | +2.5% |
| Amounts payable after more than one year | 17 | €114,500 | €114,500 | = | 0.0% |
| Financial debts | 170/4 | €114,500 | €114,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €28,964 | €32,559 | +€3,595 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €14,500 | €14,500 | = | 0.0% |
| Trade debts | 44 | €227 | €63 | -€164 | -72.3% |
| Suppliers | 440/4 | €227 | €63 | -€164 | -72.3% |
| Taxes, remuneration and social security | 45 | €2 | - | -€2 | |
| Taxes | 450/3 | €2 | - | -€2 | |
| Other amounts payable | 47/48 | €14,235 | €17,996 | +€3,761 | +26.4% |
| Accrued charges and deferred income | 492/3 | €1,505 | €1,500 | -€5 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,022 | €24,694 | -€10,328 | -29.5% |
| Other operating charges | 640/8 | €1,732 | €1,779 | +€47 | +2.7% |
| Gross operating margin | 9900 | €3,586 | -€3,822 | -€7,408 | |
| Operating profit (loss) | 9901 | -€33,168 | -€30,295 | +€2,873 | +8.7% |
| Financial income | 75/76B | €60 | €47 | -€14 | -22.9% |
| Recurring financial income | 75 | €60 | €47 | -€14 | -22.9% |
| Financial charges | 65/66B | €390 | €81 | -€309 | -79.3% |
| Recurring financial charges | 65 | €390 | €81 | -€309 | -79.3% |
| Profit (loss) for the period before taxes | 9903 | -€33,498 | -€30,329 | +€3,169 | +9.5% |
| Income taxes | 67/77 | €13 | -€4 | -€17 | |
| Profit (loss) for the period | 9904 | -€33,511 | -€30,325 | +€3,186 | +9.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,511 | -€30,325 | +€3,186 | +9.5% |
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 10 October 2026 via checked.be.