TRACK ENGINEERING: 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.
TRACK ENGINEERING
Largest movements
- Cash -€70,016
down €70,016 (-22.6%), from €309,679 to €239,662
mainly Other debts (-€154,686) and Tax, wage and social debts (-€13,838)
- Receivables within one year -€19,998
down €19,998 (-29.8%), from €67,019 to €47,021
of which Trade receivables: -€19,599
- Tangible fixed assets -€7,850
down €7,850 (-87.7%), from €8,945 to €1,096
- Other debts -€154,686
down €154,686 (-81.4%), from €190,026 to €35,340
- Reserves +€70,189
up €70,189 (+49.9%), from €140,692 to €210,881
- Tax, wage and social debts -€13,838
down €13,838 (-30.2%), from €45,755 to €31,918
of which Taxes: -€13,838
- Gross operating margin -€11,566
down €11,566 (-8.0%), from €145,407 to €133,842
- Depreciation -€5,883
down €5,883 (-42.8%), from €13,733 to €7,850
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 | €387,285 | €289,502 | -€97,783 | -25.2% |
| Fixed assets | 21/28 | €8,945 | €1,096 | -€7,850 | -87.7% |
| Tangible fixed assets | 22/27 | €8,945 | €1,096 | -€7,850 | -87.7% |
| Furniture and vehicles | 24 | €8,945 | €1,096 | -€7,850 | -87.7% |
| Current assets | 29/58 | €378,339 | €288,406 | -€89,933 | -23.8% |
| Amounts receivable within one year | 40/41 | €67,019 | €47,021 | -€19,998 | -29.8% |
| Trade receivables | 40 | €42,884 | €23,285 | -€19,599 | -45.7% |
| Other amounts receivable | 41 | €24,135 | €23,736 | -€399 | -1.7% |
| Cash at bank and in hand | 54/58 | €309,679 | €239,662 | -€70,016 | -22.6% |
| Deferred charges and accrued income | 490/1 | €1,642 | €1,722 | +€81 | +4.9% |
| Total equity and liabilities | 10/49 | €387,285 | €289,502 | -€97,783 | -25.2% |
| Equity | 10/15 | €146,897 | €217,086 | +€70,189 | +47.8% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €140,692 | €210,881 | +€70,189 | +49.9% |
| Distributable reserves | 133 | €140,692 | €210,881 | +€70,189 | +49.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €240,387 | €72,416 | -€167,972 | -69.9% |
| Amounts payable within one year | 42/48 | €238,887 | €70,416 | -€168,472 | -70.5% |
| Trade debts | 44 | €3,106 | €3,158 | +€52 | +1.7% |
| Suppliers | 440/4 | €3,106 | €3,158 | +€52 | +1.7% |
| Taxes, remuneration and social security | 45 | €45,755 | €31,918 | -€13,838 | -30.2% |
| Taxes | 450/3 | €45,755 | €31,918 | -€13,838 | -30.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €190,026 | €35,340 | -€154,686 | -81.4% |
| Accrued charges and deferred income | 492/3 | €1,500 | €2,000 | +€500 | +33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,733 | €7,850 | -€5,883 | -42.8% |
| Other operating charges | 640/8 | €604 | €581 | -€23 | -3.8% |
| Gross operating margin | 9900 | €145,407 | €133,842 | -€11,566 | -8.0% |
| Operating profit (loss) | 9901 | €131,070 | €125,411 | -€5,659 | -4.3% |
| Financial income | 75/76B | - | €22 | +€22 | |
| Recurring financial income | 75 | - | €22 | +€22 | |
| Financial charges | 65/66B | €394 | €590 | +€196 | +49.6% |
| Recurring financial charges | 65 | €394 | €590 | +€196 | +49.6% |
| Profit (loss) for the period before taxes | 9903 | €130,676 | €124,843 | -€5,833 | -4.5% |
| Income taxes | 67/77 | €43,396 | €43,171 | -€225 | -0.5% |
| Profit (loss) for the period | 9904 | €87,280 | €81,672 | -€5,608 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €87,280 | €81,672 | -€5,608 | -6.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.