VB RACING CENTER: 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.
VB RACING CENTER
Largest movements
- Tangible fixed assets -€4,574
down €4,574 (-26.4%), from €17,322 to €12,748
of which Leasing and similar rights: -€8,948
- Cash +€1,497
up €1,497 (+18.7%), from €7,994 to €9,491
mainly Depreciation (+€10,591) and Trade debts (+€4,644)
- Other debts -€5,985
down €5,985 (-4.9%), from €121,233 to €115,248
- Trade debts +€4,644
up €4,644 (+67.1%), from €6,921 to €11,564
- Debts after one year -€3,726
no longer reported in 2025 (was €3,726)
- Profit (loss) carried forward +€2,640
up €2,640 (+24.6%), from -€10,749 to -€8,109
- Current portion of long-term debt -€1,863
down €1,863 (-33.3%), from €5,589 to €3,726
- Gross operating margin +€1,935
up €1,935 (+16.2%), from €11,978 to €13,913
- Depreciation +€416
up €416 (+4.1%), from €10,175 to €10,591
- Financial charges -€326
down €326 (-67.5%), from €483 to €157
- Financial income -€275
down €275 (-81.6%), from €337 to €62
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 | €148,767 | €144,833 | -€3,934 | -2.6% |
| Fixed assets | 21/28 | €17,322 | €12,748 | -€4,574 | -26.4% |
| Tangible fixed assets | 22/27 | €17,322 | €12,748 | -€4,574 | -26.4% |
| Plant, machinery and equipment | 23 | €1,951 | €3,687 | +€1,736 | +89.0% |
| Furniture and vehicles | 24 | - | €2,638 | +€2,638 | |
| Leasing and similar rights | 25 | €15,371 | €6,423 | -€8,948 | -58.2% |
| Current assets | 29/58 | €131,445 | €132,085 | +€640 | +0.5% |
| Stocks and contracts in progress | 3 | €110,195 | €110,229 | +€34 | 0.0% |
| Stocks | 30/36 | €110,195 | €110,229 | +€34 | 0.0% |
| Amounts receivable within one year | 40/41 | €8,138 | €8,509 | +€371 | +4.6% |
| Trade receivables | 40 | €8,125 | €8,078 | -€47 | -0.6% |
| Other amounts receivable | 41 | €13 | €431 | +€418 | +3,185% |
| Cash at bank and in hand | 54/58 | €7,994 | €9,491 | +€1,497 | +18.7% |
| Deferred charges and accrued income | 490/1 | €5,118 | €3,856 | -€1,262 | -24.7% |
| Total equity and liabilities | 10/49 | €148,767 | €144,833 | -€3,934 | -2.6% |
| Equity | 10/15 | €9,703 | €12,343 | +€2,640 | +27.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,749 | -€8,109 | +€2,640 | +24.6% |
| Amounts payable | 17/49 | €139,065 | €132,490 | -€6,574 | -4.7% |
| Amounts payable after more than one year | 17 | €3,726 | - | -€3,726 | |
| Financial debts | 170/4 | €3,726 | - | -€3,726 | |
| Amounts payable within one year | 42/48 | €135,339 | €132,490 | -€2,848 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €5,589 | €3,726 | -€1,863 | -33.3% |
| Trade debts | 44 | €6,921 | €11,564 | +€4,644 | +67.1% |
| Suppliers | 440/4 | €6,921 | €11,564 | +€4,644 | +67.1% |
| Advances received on contracts in progress | 46 | €300 | €500 | +€200 | +66.7% |
| Taxes, remuneration and social security | 45 | €1,295 | €1,452 | +€157 | +12.1% |
| Taxes | 450/3 | €1,295 | €1,452 | +€157 | +12.1% |
| Other amounts payable | 47/48 | €121,233 | €115,248 | -€5,985 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,175 | €10,591 | +€416 | +4.1% |
| Other operating charges | 640/8 | €450 | €587 | +€137 | +30.5% |
| Gross operating margin | 9900 | €11,978 | €13,913 | +€1,935 | +16.2% |
| Operating profit (loss) | 9901 | €1,353 | €2,735 | +€1,382 | +102% |
| Financial income | 75/76B | €337 | €62 | -€275 | -81.6% |
| Recurring financial income | 75 | €337 | €62 | -€275 | -81.6% |
| Financial charges | 65/66B | €483 | €157 | -€326 | -67.5% |
| Recurring financial charges | 65 | €483 | €157 | -€326 | -67.5% |
| Profit (loss) for the period before taxes | 9903 | €1,208 | €2,640 | +€1,432 | +119% |
| Profit (loss) for the period | 9904 | €1,208 | €2,640 | +€1,432 | +119% |
| Profit (loss) for the period to be appropriated | 9905 | €1,208 | €2,640 | +€1,432 | +119% |
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 29 October 2026 via checked.be.