The Racket Scientist: 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.
The Racket Scientist
Largest movements
- Receivables within one year +€27,663
up €27,663 (+91.9%), from €30,090 to €57,753
of which Other amounts receivable: +€45,547
- Cash -€19,426
down €19,426 (-11.7%), from €165,617 to €146,190
mainly Receivables within one year (-€27,663) and Other debts (-€23,208)
- Tangible fixed assets -€4,924
down €4,924 (-26.1%), from €18,839 to €13,916
of which Plant, machinery and equipment: -€3,995
- Stocks and contracts -€3,495
down €3,495 (-50.0%), from €6,990 to €3,495
- Reserves +€24,487
up €24,487 (+20.5%), from €119,622 to €144,109
- Other debts -€23,208
down €23,208 (-28.4%), from €81,596 to €58,389
- Trade debts +€3,593
up €3,593 (+146%), from €2,459 to €6,052
- Tax, wage and social debts -€2,366
down €2,366 (-34.9%), from €6,780 to €4,414
- Gross operating margin -€16,514
down €16,514 (-27.4%), from €60,325 to €43,810
- Taxes -€2,416
down €2,416 (-16.0%), from €15,092 to €12,676
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 | €221,536 | €221,354 | -€183 | -0.1% |
| Fixed assets | 21/28 | €18,839 | €13,916 | -€4,924 | -26.1% |
| Tangible fixed assets | 22/27 | €18,839 | €13,916 | -€4,924 | -26.1% |
| Plant, machinery and equipment | 23 | €17,372 | €13,377 | -€3,995 | -23.0% |
| Furniture and vehicles | 24 | €1,468 | €539 | -€929 | -63.3% |
| Current assets | 29/58 | €202,697 | €207,438 | +€4,741 | +2.3% |
| Stocks and contracts in progress | 3 | €6,990 | €3,495 | -€3,495 | -50.0% |
| Stocks | 30/36 | €6,990 | €3,495 | -€3,495 | -50.0% |
| Amounts receivable within one year | 40/41 | €30,090 | €57,753 | +€27,663 | +91.9% |
| Trade receivables | 40 | €25,753 | €7,869 | -€17,885 | -69.4% |
| Other amounts receivable | 41 | €4,337 | €49,884 | +€45,547 | +1,050% |
| Cash at bank and in hand | 54/58 | €165,617 | €146,190 | -€19,426 | -11.7% |
| Total equity and liabilities | 10/49 | €221,536 | €221,354 | -€183 | -0.1% |
| Equity | 10/15 | €128,012 | €152,499 | +€24,487 | +19.1% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €119,622 | €144,109 | +€24,487 | +20.5% |
| Distributable reserves | 133 | €119,622 | €144,109 | +€24,487 | +20.5% |
| Profit (loss) carried forward | 14 | €330 | €330 | = | 0.0% |
| Amounts payable | 17/49 | €93,524 | €68,855 | -€24,669 | -26.4% |
| Amounts payable within one year | 42/48 | €92,373 | €68,855 | -€23,518 | -25.5% |
| Trade debts | 44 | €2,459 | €6,052 | +€3,593 | +146% |
| Suppliers | 440/4 | €2,459 | €6,052 | +€3,593 | +146% |
| Advances received on contracts in progress | 46 | €1,537 | €0 | -€1,537 | -100% |
| Taxes, remuneration and social security | 45 | €6,780 | €4,414 | -€2,366 | -34.9% |
| Taxes | 450/3 | €6,780 | €4,414 | -€2,366 | -34.9% |
| Other amounts payable | 47/48 | €81,596 | €58,389 | -€23,208 | -28.4% |
| Accrued charges and deferred income | 492/3 | €1,151 | €0 | -€1,151 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,219 | €4,924 | -€295 | -5.7% |
| Other operating charges | 640/8 | €568 | €700 | +€131 | +23.1% |
| Gross operating margin | 9900 | €60,325 | €43,810 | -€16,514 | -27.4% |
| Operating profit (loss) | 9901 | €54,537 | €38,187 | -€16,350 | -30.0% |
| Financial income | 75/76B | €60 | €6 | -€54 | -89.9% |
| Recurring financial income | 75 | €60 | €6 | -€54 | -89.9% |
| Financial charges | 65/66B | €1,340 | €1,030 | -€309 | -23.1% |
| Recurring financial charges | 65 | €1,340 | €1,030 | -€309 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €53,257 | €37,163 | -€16,094 | -30.2% |
| Income taxes | 67/77 | €15,092 | €12,676 | -€2,416 | -16.0% |
| Profit (loss) for the period | 9904 | €38,165 | €24,487 | -€13,679 | -35.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,165 | €24,487 | -€13,679 | -35.8% |
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 26 October 2026 via checked.be.