SCUDERIA: 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.
SCUDERIA
Largest movements
- Receivables within one year +€1.3m
up €1.3m (+10.8%), from €12.2m to €13.5m
- Cash -€716,189
down €716,189 (-83.6%), from €857,048 to €140,859
mainly Receivables within one year (-€1.3m) and Current investments (-€700,000)
- Current investments +€700,000
new in 2025: €700,000
- Reserves +€1.3m
up €1.3m (+2.5%), from €52.6m to €53.9m
of which Distributable reserves: +€1.3m
- Financial income +€163,864
up €163,864 (+14.1%), from €1.2m to €1.3m
- Taxes -€5,269
down €5,269 (-70.7%), from €7,451 to €2,182
- Gross operating margin -€208
down €208 (-245%), from -€85 to -€293
- Other operating charges +€33
up €33 (+2.8%), from €1,176 to €1,208
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 | €62,725,209 | €64,024,941 | +€1.3m | +2.1% |
| Fixed assets | 21/28 | €49,680,000 | €49,680,000 | = | 0.0% |
| Financial fixed assets | 28 | €49,680,000 | €49,680,000 | = | 0.0% |
| Current assets | 29/58 | €13,045,209 | €14,344,941 | +€1.3m | +10.0% |
| Amounts receivable within one year | 40/41 | €12,188,161 | €13,504,082 | +€1.3m | +10.8% |
| Other amounts receivable | 41 | €12,188,161 | €13,504,082 | +€1.3m | +10.8% |
| Current investments | 50/53 | - | €700,000 | +€700,000 | |
| Cash at bank and in hand | 54/58 | €857,048 | €140,859 | -€716,189 | -83.6% |
| Total equity and liabilities | 10/49 | €62,725,209 | €64,024,941 | +€1.3m | +2.1% |
| Equity | 10/15 | €52,575,634 | €53,900,366 | +€1.3m | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €52,557,034 | €53,881,766 | +€1.3m | +2.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €52,555,174 | €53,879,906 | +€1.3m | +2.5% |
| Amounts payable | 17/49 | €10,149,575 | €10,124,575 | -€25,000 | -0.2% |
| Amounts payable within one year | 42/48 | €10,149,575 | €10,124,575 | -€25,000 | -0.2% |
| Other amounts payable | 47/48 | €10,149,575 | €10,124,575 | -€25,000 | -0.2% |
| Other operating charges | 640/8 | €1,176 | €1,208 | +€33 | +2.8% |
| Gross operating margin | 9900 | -€85 | -€293 | -€208 | -245% |
| Operating profit (loss) | 9901 | -€1,261 | -€1,502 | -€241 | -19.1% |
| Financial income | 75/76B | €1,165,044 | €1,328,908 | +€163,864 | +14.1% |
| Recurring financial income | 75 | €1,165,044 | €1,328,908 | +€163,864 | +14.1% |
| Financial charges | 65/66B | €492 | €492 | +€0 | 0.0% |
| Recurring financial charges | 65 | €492 | €492 | +€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €1,163,292 | €1,326,914 | +€163,622 | +14.1% |
| Income taxes | 67/77 | €7,451 | €2,182 | -€5,269 | -70.7% |
| Profit (loss) for the period | 9904 | €1,155,841 | €1,324,732 | +€168,891 | +14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,155,841 | €1,324,732 | +€168,891 | +14.6% |
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 20 October 2026 via checked.be.