VS Racing: 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.
VS Racing
Largest movements
- Deferred charges and accrued income +€145,000
new in 2025: €145,000
- Cash +€45,792
up €45,792 (+161%), from €28,461 to €74,252
mainly Other debts (+€176,884) and Receivables within one year (+€10,000)
- Receivables within one year -€10,000
no longer reported in 2025 (was €10,000)
- Tangible fixed assets +€6,973
new in 2025: €6,973
- Other debts +€176,884
up €176,884 (+708%), from €25,000 to €201,884
- Tax, wage and social debts +€7,874
new in 2025: €7,874
- Gross operating margin +€9,991
up €9,991 (+1,924%), from €519 to €10,510
- Depreciation +€2,583
new in 2025: €2,583
- Financial charges +€2,053
up €2,053 (+3,882%), from €53 to €2,105
- Other operating charges -€344
down €344 (-40.2%), from €855 to €512
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 | €38,461 | €226,225 | +€187,764 | +488% |
| Fixed assets | 21/28 | - | €6,973 | +€6,973 | |
| Tangible fixed assets | 22/27 | - | €6,973 | +€6,973 | |
| Plant, machinery and equipment | 23 | - | €6,973 | +€6,973 | |
| Current assets | 29/58 | €38,461 | €219,252 | +€180,792 | +470% |
| Amounts receivable within one year | 40/41 | €10,000 | - | -€10,000 | |
| Trade receivables | 40 | €10,000 | - | -€10,000 | |
| Cash at bank and in hand | 54/58 | €28,461 | €74,252 | +€45,792 | +161% |
| Deferred charges and accrued income | 490/1 | - | €145,000 | +€145,000 | |
| Total equity and liabilities | 10/49 | €38,461 | €226,225 | +€187,764 | +488% |
| Equity | 10/15 | €3,461 | €4,842 | +€1,381 | +39.9% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,539 | -€70,158 | +€1,381 | +1.9% |
| Amounts payable | 17/49 | €35,000 | €221,383 | +€186,383 | +533% |
| Amounts payable within one year | 42/48 | €35,000 | €221,383 | +€186,383 | +533% |
| Trade debts | 44 | €10,000 | €11,625 | +€1,625 | +16.2% |
| Suppliers | 440/4 | €10,000 | €11,625 | +€1,625 | +16.2% |
| Taxes, remuneration and social security | 45 | - | €7,874 | +€7,874 | |
| Taxes | 450/3 | - | €7,874 | +€7,874 | |
| Other amounts payable | 47/48 | €25,000 | €201,884 | +€176,884 | +708% |
| Non-recurring operating income | 76A | €22,583 | - | -€22,583 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,583 | +€2,583 | |
| Other operating charges | 640/8 | €855 | €512 | -€344 | -40.2% |
| Non-recurring operating charges | 66A | - | €3,928 | +€3,928 | |
| Gross operating margin | 9900 | €519 | €10,510 | +€9,991 | +1,924% |
| Operating profit (loss) | 9901 | -€336 | €3,487 | +€3,823 | |
| Financial charges | 65/66B | €53 | €2,105 | +€2,053 | +3,882% |
| Recurring financial charges | 65 | €53 | €2,105 | +€2,053 | +3,882% |
| Profit (loss) for the period before taxes | 9903 | -€389 | €1,381 | +€1,770 | |
| Profit (loss) for the period | 9904 | -€389 | €1,381 | +€1,770 | |
| Profit (loss) for the period to be appropriated | 9905 | -€389 | €1,381 | +€1,770 |
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 17 October 2026 via checked.be.