RaCYNes: 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.
What changed
RaCYNes
NACE 94.999, Other membership organisations
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5,155
2024 · €6,066-€911
Equity
€659,552
2024 · €748,004-€88,452
Cash
€27,760
2024 · €26,565+€1,195
Balance sheet total
€1.3m
2024 · €1.3m-€10,187
Largest movements
Assets
- Receivables within one year -€113,203
down €113,203 (-18.0%), from €627,244 to €514,041
of which Trade receivables: -€65,777
- Financial fixed assets +€105,000
up €105,000 (+666.7%), from €15,750 to €120,750
Equity and liabilities
- Investment grants -€93,608
down €93,608 (-17.7%), from €529,092 to €435,484
- Tax, wage and social debts +€40,383
up €40,383 (+25.7%), from €157,111 to €197,494
of which Remuneration and social security: +€35,517
- Accrued charges and deferred income +€32,679
up €32,679 (+11.3%), from €290,015 to €322,695
- Debts after one year +€25,083
up €25,083 (+43.2%), from €58,024 to €83,107
- Trade debts -€19,785
down €19,785 (-57.6%), from €34,347 to €14,562
Income statement
- Purchases and services +€405,140
new in 2025: €405,140
- Turnover +€378,552
new in 2025: €378,552
- Gross operating margin +€118,750
up €118,750 (+7.0%), from €1.7m to €1.8m
- Staff costs +€79,759
up €79,759 (+5.1%), from €1.6m to €1.6m
- Other operating charges +€37,541
up €37,541 (+895.5%), from €4,192 to €41,733
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.
Result 2024
€6,066
Gross operating margin
+€118,750
Staff costs
-€79,759
Depreciation
-€1,994
Other operating charges
-€37,541
Financial income
-€4,578
Financial charges
+€4,211
Result 2025
€5,155
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.
From operations
+€291,467
Investment
-€236,652
Financing
-€53,620
Cash 2024
€26,565
From operations (derived)
+€291,467
Net result for the year
+€5,155
Depreciation
+€130,511
Stocks and contracts
-€1,118
Receivables within one year
+€113,203
Deferred charges and accrued income
+€5,438
Trade debts
-€19,785
Tax, wage and social debts
+€40,383
Other debts
-€15,000
Accrued charges and deferred income
+€32,679
Investment (derived)
-€236,652
Investment in fixed assets (net)
-€236,652
Financing
-€53,620
Debts after one year
+€25,083
Current portion of long-term debt
+€14,905
Contributions, distributions and other
-€93,608
Cash 2025
€27,760
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,319,198 | €1,309,011 | -€10,187 | -0.8% |
| Fixed assets | 21/28 | €655,969 | €762,111 | +€106,142 | +16.2% |
| Intangible fixed assets | 21 | €2,927 | €1,669 | -€1,258 | -43.0% |
| Tangible fixed assets | 22/27 | €637,292 | €639,692 | +€2,399 | +0.4% |
| Land and buildings | 22 | €378,013 | €473,083 | +€95,070 | +25.1% |
| Plant, machinery and equipment | 23 | €51,799 | €42,856 | -€8,943 | -17.3% |
| Furniture and vehicles | 24 | €53,165 | €12,557 | -€40,608 | -76.4% |
| Other tangible fixed assets | 26 | €154,315 | €111,196 | -€43,119 | -27.9% |
| Financial fixed assets | 28 | €15,750 | €120,750 | +€105,000 | +666.7% |
| Current assets | 29/58 | €663,229 | €546,900 | -€116,329 | -17.5% |
| Stocks and contracts in progress | 3 | €2,750 | €3,868 | +€1,118 | +40.7% |
| Stocks | 30/36 | €2,750 | €3,868 | +€1,118 | +40.7% |
| Amounts receivable within one year | 40/41 | €627,244 | €514,041 | -€113,203 | -18.0% |
| Trade receivables | 40 | €168,375 | €102,598 | -€65,777 | -39.1% |
| Other amounts receivable | 41 | €458,869 | €411,443 | -€47,426 | -10.3% |
| Cash at bank and in hand | 54/58 | €26,565 | €27,760 | +€1,195 | +4.5% |
| Deferred charges and accrued income | 490/1 | €6,670 | €1,231 | -€5,438 | -81.5% |
| Total equity and liabilities | 10/49 | €1,319,198 | €1,309,011 | -€10,187 | -0.8% |
| Equity | 10/15 | €748,004 | €659,552 | -€88,452 | -11.8% |
| Contributions | 10/11 | €56,708 | €56,708 | = | 0.0% |
| Capital | 10 | - | €56,708 | +€56,708 | |
| Reserves | 13 | €161,500 | €166,500 | +€5,000 | +3.1% |
| Distributable reserves | 133 | €161,500 | - | -€161,500 | |
| Profit (loss) carried forward | 14 | €704 | €860 | +€155 | +22.1% |
| Investment grants | 15 | €529,092 | €435,484 | -€93,608 | -17.7% |
| Amounts payable | 17/49 | €571,193 | €649,458 | +€78,265 | +13.7% |
| Amounts payable after more than one year | 17 | €58,024 | €83,107 | +€25,083 | +43.2% |
| Financial debts | 170/4 | €58,024 | €83,107 | +€25,083 | +43.2% |
| Amounts payable within one year | 42/48 | €223,154 | €243,657 | +€20,503 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €16,696 | €31,601 | +€14,905 | +89.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €34,347 | €14,562 | -€19,785 | -57.6% |
| Suppliers | 440/4 | €34,347 | €14,562 | -€19,785 | -57.6% |
| Taxes, remuneration and social security | 45 | €157,111 | €197,494 | +€40,383 | +25.7% |
| Taxes | 450/3 | €0 | €4,866 | +€4,866 | |
| Remuneration and social security | 454/9 | €157,111 | €192,628 | +€35,517 | +22.6% |
| Other amounts payable | 47/48 | €15,000 | - | -€15,000 | |
| Accrued charges and deferred income | 492/3 | €290,015 | €322,695 | +€32,679 | +11.3% |
| Turnover | 70 | - | €378,552 | +€378,552 | |
| Membership fees, donations, legacies and grants | 73 | - | €1,777,446 | +€1.8m | |
| Non-recurring operating income | 76A | - | €8,987 | +€8,987 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €405,140 | +€405,140 | |
| Remuneration, social security and pensions | 62 | €1,551,397 | €1,631,155 | +€79,759 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,517 | €130,511 | +€1,994 | +1.6% |
| Other operating charges | 640/8 | €4,192 | €41,733 | +€37,541 | +895.5% |
| Gross operating margin | 9900 | €1,693,706 | €1,812,456 | +€118,750 | +7.0% |
| Operating profit (loss) | 9901 | €9,601 | €9,057 | -€544 | -5.7% |
| Financial income | 75/76B | €4,578 | €0 | -€4,578 | -100.0% |
| Recurring financial income | 75 | €4,578 | €0 | -€4,578 | -100.0% |
| Financial charges | 65/66B | €8,112 | €3,902 | -€4,211 | -51.9% |
| Recurring financial charges | 65 | €8,112 | €3,902 | -€4,211 | -51.9% |
| Profit (loss) for the period before taxes | 9903 | €6,066 | €5,155 | -€911 | -15.0% |
| Profit (loss) for the period | 9904 | €6,066 | €5,155 | -€911 | -15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,066 | €5,155 | -€911 | -15.0% |
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 12 October 2026 via checked.be.