SG 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.
SG RACING
Largest movements
- Receivables within one year +€57,784
up €57,784 (+59.7%), from €96,801 to €154,585
of which Trade receivables: +€55,266
- Stocks and contracts -€30,750
down €30,750 (-25.0%), from €122,834 to €92,084
- Tangible fixed assets -€18,672
down €18,672 (-17.1%), from €109,108 to €90,436
of which Plant, machinery and equipment: -€14,911
- Cash +€7,829
up €7,829 (+11.7%), from €66,841 to €74,670
mainly Other debts (+€58,611) and Trade debts (+€42,010)
- Other debts +€58,611
up €58,611 (+1624.6%), from €3,608 to €62,218
- Profit (loss) carried forward -€45,025
down €45,025 (-29.1%), from €154,716 to €109,691
- Trade debts +€42,010
up €42,010 (+80.3%), from €52,313 to €94,323
- Tax, wage and social debts -€28,652
down €28,652 (-79.4%), from €36,065 to €7,413
of which Remuneration and social security: -€24,618
- Debts after one year -€8,717
down €8,717 (-37.3%), from €23,358 to €14,641
- Gross operating margin -€24,903
down €24,903 (-17.2%), from €145,135 to €120,232
- Staff costs -€15,422
down €15,422 (-10.1%), from €152,740 to €137,317
- Other operating charges +€1,798
up €1,798 (+47.2%), from €3,813 to €5,612
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €395,630 | €411,821 | +€16,191 | +4.1% |
| Fixed assets | 21/28 | €109,154 | €90,482 | -€18,672 | -17.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €109,108 | €90,436 | -€18,672 | -17.1% |
| Land and buildings | 22 | €22,127 | €20,978 | -€1,149 | -5.2% |
| Plant, machinery and equipment | 23 | €84,369 | €69,459 | -€14,911 | -17.7% |
| Furniture and vehicles | 24 | €2,612 | - | -€2,612 | |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €286,476 | €321,339 | +€34,863 | +12.2% |
| Stocks and contracts in progress | 3 | €122,834 | €92,084 | -€30,750 | -25.0% |
| Stocks | 30/36 | €122,834 | €92,084 | -€30,750 | -25.0% |
| Amounts receivable within one year | 40/41 | €96,801 | €154,585 | +€57,784 | +59.7% |
| Trade receivables | 40 | €93,413 | €148,679 | +€55,266 | +59.2% |
| Other amounts receivable | 41 | €3,388 | €5,906 | +€2,518 | +74.3% |
| Cash at bank and in hand | 54/58 | €66,841 | €74,670 | +€7,829 | +11.7% |
| Total equity and liabilities | 10/49 | €395,630 | €411,821 | +€16,191 | +4.1% |
| Equity | 10/15 | €206,493 | €161,468 | -€45,025 | -21.8% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €20,790 | €20,790 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,790 | €20,790 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20,790 | €20,790 | = | 0.0% |
| Profit (loss) carried forward | 14 | €154,716 | €109,691 | -€45,025 | -29.1% |
| Amounts payable | 17/49 | €189,137 | €250,353 | +€61,216 | +32.4% |
| Amounts payable after more than one year | 17 | €23,358 | €14,641 | -€8,717 | -37.3% |
| Financial debts | 170/4 | €23,358 | €14,641 | -€8,717 | -37.3% |
| Amounts payable within one year | 42/48 | €165,780 | €235,712 | +€69,933 | +42.2% |
| Current portion of amounts payable after more than one year | 42 | €10,747 | €8,711 | -€2,036 | -18.9% |
| Financial debts | 43 | €48 | €48 | = | 0.0% |
| Credit institutions | 430/8 | €48 | €48 | = | 0.0% |
| Trade debts | 44 | €52,313 | €94,323 | +€42,010 | +80.3% |
| Suppliers | 440/4 | €52,313 | €94,323 | +€42,010 | +80.3% |
| Advances received on contracts in progress | 46 | €63,000 | €63,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €36,065 | €7,413 | -€28,652 | -79.4% |
| Taxes | 450/3 | €11,446 | €7,413 | -€4,034 | -35.2% |
| Remuneration and social security | 454/9 | €24,618 | - | -€24,618 | |
| Other amounts payable | 47/48 | €3,608 | €62,218 | +€58,611 | +1624.6% |
| Non-recurring operating income | 76A | - | €482 | +€482 | |
| Remuneration, social security and pensions | 62 | €152,740 | €137,317 | -€15,422 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,130 | €19,154 | +€25 | +0.1% |
| Other operating charges | 640/8 | €3,813 | €5,612 | +€1,798 | +47.2% |
| Gross operating margin | 9900 | €145,135 | €120,232 | -€24,903 | -17.2% |
| Operating profit (loss) | 9901 | -€30,548 | -€41,852 | -€11,304 | -37.0% |
| Financial income | 75/76B | €0 | €160 | +€160 | |
| Recurring financial income | 75 | €0 | €160 | +€160 | |
| Financial charges | 65/66B | €2,965 | €3,299 | +€334 | +11.3% |
| Recurring financial charges | 65 | €2,965 | €3,299 | +€334 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | -€33,513 | -€44,991 | -€11,478 | -34.2% |
| Income taxes | 67/77 | - | €34 | +€34 | |
| Profit (loss) for the period | 9904 | -€33,513 | -€45,025 | -€11,512 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,513 | -€45,025 | -€11,512 | -34.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.