TRACK42: what changed
Two fiscal 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.
TRACK42
Largest movements
- Cash +€55,026
up €55,026 (+152.7%), from €36,031 to €91,056
mainly Net result for the year (+€131,107) and Other debts (+€103,874)
- Receivables within one year -€16,332
down €16,332 (-7.4%), from €220,383 to €204,051
of which Trade receivables: -€11,334
- Tangible fixed assets +€13,418
up €13,418 (+2.0%), from €659,682 to €673,100
of which Land and buildings: +€9,640
- Other debts +€103,874
up €103,874 (+500.4%), from €20,759 to €124,633
- Debts after one year -€36,532
down €36,532 (-5.8%), from €630,473 to €593,941
- Trade debts -€19,271
down €19,271 (-41.8%), from €46,153 to €26,882
- Reserves +€12,125
up €12,125 (+10.2%), from €118,982 to €131,107
- Gross operating margin +€89,896
up €89,896 (+50.0%), from €179,635 to €269,531
- Depreciation -€64,898
down €64,898 (-70.6%), from €91,903 to €27,005
- Financial charges +€16,772
up €16,772 (+110.2%), from €15,215 to €31,987
- Taxes +€9,998
up €9,998 (+547.7%), from €1,826 to €11,824
- Other operating charges +€3,546
up €3,546 (+218.5%), from €1,623 to €5,168
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 | €923,122 | €980,151 | +€57,029 | +6.2% |
| Fixed assets | 21/28 | €660,932 | €673,100 | +€12,168 | +1.8% |
| Tangible fixed assets | 22/27 | €659,682 | €673,100 | +€13,418 | +2.0% |
| Land and buildings | 22 | €644,413 | €654,053 | +€9,640 | +1.5% |
| Plant, machinery and equipment | 23 | €3,288 | €4,332 | +€1,043 | +31.7% |
| Furniture and vehicles | 24 | €8,216 | €11,422 | +€3,206 | +39.0% |
| Other tangible fixed assets | 26 | €3,765 | €3,292 | -€473 | -12.6% |
| Financial fixed assets | 28 | €1,250 | €0 | -€1,250 | -100.0% |
| Current assets | 29/58 | €262,190 | €307,051 | +€44,862 | +17.1% |
| Stocks and contracts in progress | 3 | €1,600 | €7,500 | +€5,900 | +368.8% |
| Stocks | 30/36 | €1,600 | €7,500 | +€5,900 | +368.8% |
| Amounts receivable within one year | 40/41 | €220,383 | €204,051 | -€16,332 | -7.4% |
| Trade receivables | 40 | €212,209 | €200,875 | -€11,334 | -5.3% |
| Other amounts receivable | 41 | €8,174 | €3,176 | -€4,998 | -61.1% |
| Cash at bank and in hand | 54/58 | €36,031 | €91,056 | +€55,026 | +152.7% |
| Deferred charges and accrued income | 490/1 | €4,176 | €4,444 | +€268 | +6.4% |
| Total equity and liabilities | 10/49 | €923,122 | €980,151 | +€57,029 | +6.2% |
| Equity | 10/15 | €133,982 | €146,107 | +€12,125 | +9.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €118,982 | €131,107 | +€12,125 | +10.2% |
| Distributable reserves | 133 | €118,982 | €131,107 | +€12,125 | +10.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €789,140 | €834,044 | +€44,904 | +5.7% |
| Amounts payable after more than one year | 17 | €630,473 | €593,941 | -€36,532 | -5.8% |
| Financial debts | 170/4 | €630,473 | €593,941 | -€36,532 | -5.8% |
| Amounts payable within one year | 42/48 | €157,121 | €236,500 | +€79,380 | +50.5% |
| Current portion of amounts payable after more than one year | 42 | €36,522 | €36,532 | +€10 | 0.0% |
| Trade debts | 44 | €46,153 | €26,882 | -€19,271 | -41.8% |
| Suppliers | 440/4 | €46,153 | €26,882 | -€19,271 | -41.8% |
| Taxes, remuneration and social security | 45 | €53,687 | €48,453 | -€5,234 | -9.7% |
| Taxes | 450/3 | €41,859 | €36,981 | -€4,878 | -11.7% |
| Remuneration and social security | 454/9 | €11,828 | €11,472 | -€356 | -3.0% |
| Other amounts payable | 47/48 | €20,759 | €124,633 | +€103,874 | +500.4% |
| Accrued charges and deferred income | 492/3 | €1,546 | €3,603 | +€2,056 | +133.0% |
| Remuneration, social security and pensions | 62 | €64,066 | €62,567 | -€1,500 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,903 | €27,005 | -€64,898 | -70.6% |
| Other operating charges | 640/8 | €1,623 | €5,168 | +€3,546 | +218.5% |
| Non-recurring operating charges | 66A | €2,871 | €0 | -€2,871 | -100.0% |
| Gross operating margin | 9900 | €179,635 | €269,531 | +€89,896 | +50.0% |
| Operating profit (loss) | 9901 | €19,172 | €174,791 | +€155,619 | +811.7% |
| Financial income | 75/76B | €1 | €127 | +€126 | +16575.0% |
| Recurring financial income | 75 | €1 | €127 | +€126 | +16575.0% |
| Financial charges | 65/66B | €15,215 | €31,987 | +€16,772 | +110.2% |
| Recurring financial charges | 65 | €15,215 | €31,987 | +€16,772 | +110.2% |
| Profit (loss) for the period before taxes | 9903 | €3,957 | €142,931 | +€138,973 | +3511.8% |
| Income taxes | 67/77 | €1,826 | €11,824 | +€9,998 | +547.7% |
| Profit (loss) for the period | 9904 | €2,132 | €131,107 | +€128,975 | +6050.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,132 | €131,107 | +€128,975 | +6050.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.