Techrace: 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.
Techrace
Largest movements
- Stocks and contracts -€17,333
down €17,333 (-11.2%), from €155,435 to €138,102
- Cash +€7,756
up €7,756 (+33.3%), from €23,289 to €31,044
mainly Net result for the year (+€26,930) and Stocks and contracts (+€17,333)
- Receivables within one year -€6,453
down €6,453 (-16.3%), from €39,470 to €33,017
- Tangible fixed assets -€2,531
down €2,531 (-70.4%), from €3,596 to €1,065
of which Furniture and vehicles: -€3,100
- Other debts -€46,213
down €46,213 (-60.7%), from €76,077 to €29,863
- Profit (loss) carried forward +€26,930
up €26,930 (+24.2%), from €111,184 to €138,114
- Tax, wage and social debts +€6,811
up €6,811 (+62.9%), from €10,835 to €17,645
- Trade debts -€5,428
down €5,428 (-49.5%), from €10,969 to €5,540
- Gross operating margin -€23,516
down €23,516 (-31.0%), from €75,780 to €52,264
- Staff costs -€15,096
no longer reported in 2025 (was €15,096)
- Write-downs +€4,694
up €4,694 (+81.2%), from €5,781 to €10,475
- Taxes -€2,516
down €2,516 (-19.7%), from €12,779 to €10,263
- Depreciation -€1,342
down €1,342 (-28.4%), from €4,723 to €3,381
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 | €223,998 | €205,522 | -€18,475 | -8.2% |
| Fixed assets | 21/28 | €4,421 | €1,890 | -€2,531 | -57.2% |
| Tangible fixed assets | 22/27 | €3,596 | €1,065 | -€2,531 | -70.4% |
| Plant, machinery and equipment | 23 | €411 | €980 | +€569 | +138.6% |
| Furniture and vehicles | 24 | €3,185 | €85 | -€3,100 | -97.3% |
| Financial fixed assets | 28 | €825 | €825 | = | 0.0% |
| Current assets | 29/58 | €219,576 | €203,632 | -€15,944 | -7.3% |
| Stocks and contracts in progress | 3 | €155,435 | €138,102 | -€17,333 | -11.2% |
| Stocks | 30/36 | €155,435 | €138,102 | -€17,333 | -11.2% |
| Amounts receivable within one year | 40/41 | €39,470 | €33,017 | -€6,453 | -16.3% |
| Trade receivables | 40 | €39,470 | €33,017 | -€6,453 | -16.3% |
| Cash at bank and in hand | 54/58 | €23,289 | €31,044 | +€7,756 | +33.3% |
| Deferred charges and accrued income | 490/1 | €1,383 | €1,469 | +€86 | +6.2% |
| Total equity and liabilities | 10/49 | €223,998 | €205,522 | -€18,475 | -8.2% |
| Equity | 10/15 | €125,544 | €152,474 | +€26,930 | +21.5% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,184 | €138,114 | +€26,930 | +24.2% |
| Amounts payable | 17/49 | €98,454 | €53,049 | -€45,405 | -46.1% |
| Amounts payable within one year | 42/48 | €98,454 | €53,049 | -€45,405 | -46.1% |
| Current portion of amounts payable after more than one year | 42 | €574 | - | -€574 | |
| Trade debts | 44 | €10,969 | €5,540 | -€5,428 | -49.5% |
| Suppliers | 440/4 | €10,969 | €5,540 | -€5,428 | -49.5% |
| Taxes, remuneration and social security | 45 | €10,835 | €17,645 | +€6,811 | +62.9% |
| Taxes | 450/3 | €10,835 | €17,645 | +€6,811 | +62.9% |
| Other amounts payable | 47/48 | €76,077 | €29,863 | -€46,213 | -60.7% |
| Remuneration, social security and pensions | 62 | €15,096 | - | -€15,096 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,723 | €3,381 | -€1,342 | -28.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,781 | €10,475 | +€4,694 | +81.2% |
| Other operating charges | 640/8 | €1,421 | €1,025 | -€396 | -27.8% |
| Gross operating margin | 9900 | €75,780 | €52,264 | -€23,516 | -31.0% |
| Operating profit (loss) | 9901 | €48,759 | €37,383 | -€11,376 | -23.3% |
| Financial income | 75/76B | €71 | €190 | +€119 | +169.1% |
| Recurring financial income | 75 | €71 | €190 | +€119 | +169.1% |
| Financial charges | 65/66B | €129 | €380 | +€251 | +195.4% |
| Recurring financial charges | 65 | €129 | €380 | +€251 | +195.4% |
| Profit (loss) for the period before taxes | 9903 | €48,701 | €37,193 | -€11,508 | -23.6% |
| Income taxes | 67/77 | €12,779 | €10,263 | -€2,516 | -19.7% |
| Profit (loss) for the period | 9904 | €35,921 | €26,930 | -€8,991 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,921 | €26,930 | -€8,991 | -25.0% |
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 10 October 2026 via checked.be.