SPEED 8 CLASSICS: 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.
SPEED 8 CLASSICS
Largest movements
- Receivables within one year -€63,274
down €63,274 (-65.2%), from €97,036 to €33,762
of which Trade receivables: -€72,916
- Tangible fixed assets -€52,754
down €52,754 (-4.4%), from €1.2m to €1.2m
- Short-term financial debts -€240,000
down €240,000 (-96.0%), from €250,000 to €10,000
- Trade debts +€134,649
up €134,649 (+83.4%), from €161,540 to €296,189
- Debts after one year -€31,857
down €31,857 (-2.4%), from €1.3m to €1.3m
of which Other amounts payable: -€222,125
- Gross operating margin -€80,997
down €80,997 (-40.6%), from €199,420 to €118,422
- Financial charges -€69,522
down €69,522 (-69.1%), from €100,572 to €31,050
- Other operating charges -€6,915
down €6,915 (-56.2%), from €12,309 to €5,394
- Taxes -€3,823
down €3,823 (-34.9%), from €10,941 to €7,118
- Depreciation +€3,573
up €3,573 (+6.9%), from €52,079 to €55,652
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 | €2,158,335 | €2,045,262 | -€113,072 | -5.2% |
| Fixed assets | 21/28 | €1,203,999 | €1,151,245 | -€52,754 | -4.4% |
| Tangible fixed assets | 22/27 | €1,203,999 | €1,151,245 | -€52,754 | -4.4% |
| Land and buildings | 22 | €1,003,370 | €979,206 | -€24,164 | -2.4% |
| Plant, machinery and equipment | 23 | €117,882 | €100,518 | -€17,364 | -14.7% |
| Furniture and vehicles | 24 | €82,090 | €71,520 | -€10,570 | -12.9% |
| Other tangible fixed assets | 26 | €656 | €0 | -€656 | -100.0% |
| Current assets | 29/58 | €954,336 | €894,018 | -€60,319 | -6.3% |
| Stocks and contracts in progress | 3 | €822,074 | €826,636 | +€4,562 | +0.6% |
| Stocks | 30/36 | €822,074 | €771,636 | -€50,438 | -6.1% |
| Contracts in progress | 37 | - | €55,000 | +€55,000 | |
| Amounts receivable within one year | 40/41 | €97,036 | €33,762 | -€63,274 | -65.2% |
| Trade receivables | 40 | €82,978 | €10,062 | -€72,916 | -87.9% |
| Other amounts receivable | 41 | €14,059 | €23,701 | +€9,642 | +68.6% |
| Cash at bank and in hand | 54/58 | €33,490 | €30,841 | -€2,649 | -7.9% |
| Deferred charges and accrued income | 490/1 | €1,736 | €2,779 | +€1,043 | +60.1% |
| Total equity and liabilities | 10/49 | €2,158,335 | €2,045,262 | -€113,072 | -5.2% |
| Equity | 10/15 | €346,801 | €363,104 | +€16,303 | +4.7% |
| Contributions | 10/11 | €6,800 | €6,800 | = | 0.0% |
| Reserves | 13 | €340,001 | €356,304 | +€16,303 | +4.8% |
| Distributable reserves | 133 | €340,001 | €356,304 | +€16,303 | +4.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,811,534 | €1,682,158 | -€129,376 | -7.1% |
| Amounts payable after more than one year | 17 | €1,309,663 | €1,277,806 | -€31,857 | -2.4% |
| Financial debts | 170/4 | €418,284 | €608,551 | +€190,268 | +45.5% |
| Other amounts payable | 178/9 | €891,379 | €669,255 | -€222,125 | -24.9% |
| Amounts payable within one year | 42/48 | €501,871 | €404,352 | -€97,519 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €76,863 | €75,870 | -€992 | -1.3% |
| Financial debts | 43 | €250,000 | €10,000 | -€240,000 | -96.0% |
| Credit institutions | 430/8 | €250,000 | €10,000 | -€240,000 | -96.0% |
| Trade debts | 44 | €161,540 | €296,189 | +€134,649 | +83.4% |
| Suppliers | 440/4 | €161,540 | €296,189 | +€134,649 | +83.4% |
| Advances received on contracts in progress | 46 | €0 | €20,000 | +€20,000 | |
| Taxes, remuneration and social security | 45 | €9,409 | €709 | -€8,700 | -92.5% |
| Taxes | 450/3 | €9,409 | €709 | -€8,700 | -92.5% |
| Other amounts payable | 47/48 | €4,060 | €1,584 | -€2,476 | -61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,079 | €55,652 | +€3,573 | +6.9% |
| Other operating charges | 640/8 | €12,309 | €5,394 | -€6,915 | -56.2% |
| Non-recurring operating charges | 66A | - | €3,792 | +€3,792 | |
| Gross operating margin | 9900 | €199,420 | €118,422 | -€80,997 | -40.6% |
| Operating profit (loss) | 9901 | €135,031 | €53,584 | -€81,448 | -60.3% |
| Financial income | 75/76B | €318 | €888 | +€570 | +179.3% |
| Recurring financial income | 75 | €318 | €888 | +€570 | +179.3% |
| Financial charges | 65/66B | €100,572 | €31,050 | -€69,522 | -69.1% |
| Recurring financial charges | 65 | €100,572 | €31,050 | -€69,522 | -69.1% |
| Profit (loss) for the period before taxes | 9903 | €34,777 | €23,422 | -€11,356 | -32.7% |
| Income taxes | 67/77 | €10,941 | €7,118 | -€3,823 | -34.9% |
| Profit (loss) for the period | 9904 | €23,836 | €16,303 | -€7,533 | -31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,836 | €16,303 | -€7,533 | -31.6% |
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 11 October 2026 via checked.be.