TM RACING BELGIUM: what changed
TM RACING BELGIUM
Largest movements
- Stocks and contracts +€123,812
up €123,812 (+27.5%), from €450,653 to €574,465
- Tangible fixed assets -€56,739
down €56,739 (-52.1%), from €108,973 to €52,234
of which Furniture and vehicles: -€50,413
- Receivables within one year +€18,662
up €18,662 (+292%), from €6,389 to €25,052
of which Trade receivables: +€17,283
- Cash +€7,999
up €7,999 (+122%), from €6,548 to €14,547
mainly Trade debts (+€72,002) and Depreciation (+€31,207)
- Trade debts +€72,002
up €72,002 (+92.2%), from €78,083 to €150,086
- Current portion of long-term debt +€24,960
up €24,960 (+10.9%), from €228,890 to €253,850
- Debts after one year -€15,850
down €15,850 (-88.2%), from €17,971 to €2,122
- Tax, wage and social debts +€12,357
up €12,357 (+59.4%), from €20,807 to €33,164
of which Taxes: +€12,089
- Staff costs -€24,686
down €24,686 (-66.8%), from €36,956 to €12,270
- Depreciation -€3,201
down €3,201 (-9.3%), from €34,408 to €31,207
- Financial charges +€2,620
up €2,620 (+32.5%), from €8,068 to €10,688
of which Financial charges: +€2,157
- Gross operating margin +€1,585
up €1,585 (+2.8%), from €55,862 to €57,447
- Other operating charges +€727
up €727 (+105%), from €694 to €1,421
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €577,426 | €672,775 | +€95,348 | +16.5% |
| Fixed assets | 21/28 | €109,173 | €52,434 | -€56,739 | -52.0% |
| Tangible fixed assets | 22/27 | €108,973 | €52,234 | -€56,739 | -52.1% |
| Plant, machinery and equipment | 23 | €10,084 | €5,324 | -€4,761 | -47.2% |
| Furniture and vehicles | 24 | €91,634 | €41,221 | -€50,413 | -55.0% |
| Other tangible fixed assets | 26 | €7,255 | €5,690 | -€1,565 | -21.6% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €468,253 | €620,340 | +€152,087 | +32.5% |
| Stocks and contracts in progress | 3 | €450,653 | €574,465 | +€123,812 | +27.5% |
| Stocks | 30/36 | €450,653 | €574,465 | +€123,812 | +27.5% |
| Amounts receivable within one year | 40/41 | €6,389 | €25,052 | +€18,662 | +292% |
| Trade receivables | 40 | €6,389 | €23,672 | +€17,283 | +271% |
| Other amounts receivable | 41 | - | €1,379 | +€1,379 | |
| Cash at bank and in hand | 54/58 | €6,548 | €14,547 | +€7,999 | +122% |
| Deferred charges and accrued income | 490/1 | €4,663 | €6,277 | +€1,613 | +34.6% |
| Total equity and liabilities | 10/49 | €577,426 | €672,775 | +€95,348 | +16.5% |
| Equity | 10/15 | €115,609 | €117,738 | +€2,129 | +1.8% |
| Contributions | 10/11 | €105,002 | €105,002 | = | 0.0% |
| Capital | 10 | €105,002 | €105,002 | = | 0.0% |
| Issued capital | 100 | €105,002 | €105,002 | = | 0.0% |
| Reserves | 13 | €34,672 | €34,672 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,200 | €7,200 | = | 0.0% |
| Legal reserve | 130 | €7,200 | €7,200 | = | 0.0% |
| Distributable reserves | 133 | €27,472 | €27,472 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,065 | -€21,936 | +€2,129 | +8.8% |
| Amounts payable | 17/49 | €461,817 | €555,037 | +€93,220 | +20.2% |
| Amounts payable after more than one year | 17 | €17,971 | €2,122 | -€15,850 | -88.2% |
| Financial debts | 170/4 | €17,971 | €2,122 | -€15,850 | -88.2% |
| Amounts payable within one year | 42/48 | €443,846 | €552,916 | +€109,070 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €228,890 | €253,850 | +€24,960 | +10.9% |
| Trade debts | 44 | €78,083 | €150,086 | +€72,002 | +92.2% |
| Suppliers | 440/4 | €78,083 | €150,086 | +€72,002 | +92.2% |
| Taxes, remuneration and social security | 45 | €20,807 | €33,164 | +€12,357 | +59.4% |
| Taxes | 450/3 | €18,308 | €30,397 | +€12,089 | +66.0% |
| Remuneration and social security | 454/9 | €2,499 | €2,767 | +€267 | +10.7% |
| Other amounts payable | 47/48 | €116,066 | €115,816 | -€249 | -0.2% |
| Remuneration, social security and pensions | 62 | €36,956 | €12,270 | -€24,686 | -66.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,408 | €31,207 | -€3,201 | -9.3% |
| Other operating charges | 640/8 | €694 | €1,421 | +€727 | +105% |
| Gross operating margin | 9900 | €55,862 | €57,447 | +€1,585 | +2.8% |
| Operating profit (loss) | 9901 | -€16,196 | €12,549 | +€28,745 | |
| Financial income | 75/76B | €199 | €267 | +€68 | +34.4% |
| Recurring financial income | 75 | €199 | €267 | +€68 | +34.4% |
| Financial charges | 65/66B | €8,068 | €10,688 | +€2,620 | +32.5% |
| Recurring financial charges | 65 | €8,068 | €10,225 | +€2,157 | +26.7% |
| Non-recurring financial charges | 66B | - | €463 | +€463 | |
| Profit (loss) for the period before taxes | 9903 | -€24,065 | €2,129 | +€26,194 | |
| Profit (loss) for the period | 9904 | -€24,065 | €2,129 | +€26,194 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,065 | €2,129 | +€26,194 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.