Chasing Rabbits: 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.
Chasing Rabbits
Largest movements
- Cash -€48,110
down €48,110 (-69.9%), from €68,874 to €20,763
mainly Current investments (-€45,000) and Receivables within one year (-€5,477)
- Current investments +€45,000
new in 2025: €45,000
- Receivables within one year +€5,477
up €5,477 (+22.4%), from €24,459 to €29,936
of which Trade receivables: +€5,311
- Deferred charges and accrued income +€2,211
up €2,211 (+95.4%), from €2,318 to €4,529
- Reserves +€7,122
up €7,122 (+12.6%), from €56,678 to €63,800
- Tax, wage and social debts -€3,207
down €3,207 (-9.9%), from €32,239 to €29,032
of which Taxes: -€3,207
- Gross operating margin -€28,942
down €28,942 (-60.6%), from €47,739 to €18,797
- Taxes -€8,035
down €8,035 (-54.9%), from €14,627 to €6,592
- Financial charges +€3,257
up €3,257 (+2357.8%), from €138 to €3,395
- Other operating charges +€825
up €825 (+125.3%), from €658 to €1,483
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 | €97,509 | €101,571 | +€4,062 | +4.2% |
| Fixed assets | 21/28 | €1,858 | €1,343 | -€515 | -27.7% |
| Tangible fixed assets | 22/27 | €1,858 | €1,343 | -€515 | -27.7% |
| Plant, machinery and equipment | 23 | €643 | €466 | -€177 | -27.5% |
| Furniture and vehicles | 24 | €1,216 | €878 | -€338 | -27.8% |
| Current assets | 29/58 | €95,651 | €100,228 | +€4,577 | +4.8% |
| Amounts receivable within one year | 40/41 | €24,459 | €29,936 | +€5,477 | +22.4% |
| Trade receivables | 40 | €24,365 | €29,676 | +€5,311 | +21.8% |
| Other amounts receivable | 41 | €94 | €261 | +€167 | +177.4% |
| Current investments | 50/53 | - | €45,000 | +€45,000 | |
| Cash at bank and in hand | 54/58 | €68,874 | €20,763 | -€48,110 | -69.9% |
| Deferred charges and accrued income | 490/1 | €2,318 | €4,529 | +€2,211 | +95.4% |
| Total equity and liabilities | 10/49 | €97,509 | €101,571 | +€4,062 | +4.2% |
| Equity | 10/15 | €58,678 | €65,800 | +€7,122 | +12.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €56,678 | €63,800 | +€7,122 | +12.6% |
| Distributable reserves | 133 | €56,678 | €63,800 | +€7,122 | +12.6% |
| Amounts payable | 17/49 | €38,831 | €35,771 | -€3,060 | -7.9% |
| Amounts payable within one year | 42/48 | €38,831 | €35,771 | -€3,060 | -7.9% |
| Financial debts | 43 | €825 | €215 | -€610 | -74.0% |
| Credit institutions | 430/8 | €825 | €215 | -€610 | -74.0% |
| Trade debts | 44 | €5,742 | €6,524 | +€783 | +13.6% |
| Suppliers | 440/4 | €5,742 | €6,524 | +€783 | +13.6% |
| Taxes, remuneration and social security | 45 | €32,239 | €29,032 | -€3,207 | -9.9% |
| Taxes | 450/3 | €32,239 | €29,032 | -€3,207 | -9.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €25 | €0 | -€25 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €515 | €515 | -€0 | 0.0% |
| Other operating charges | 640/8 | €658 | €1,483 | +€825 | +125.3% |
| Gross operating margin | 9900 | €47,739 | €18,797 | -€28,942 | -60.6% |
| Operating profit (loss) | 9901 | €46,565 | €16,799 | -€29,766 | -63.9% |
| Financial income | 75/76B | €416 | €310 | -€106 | -25.5% |
| Recurring financial income | 75 | €416 | €310 | -€106 | -25.5% |
| Financial charges | 65/66B | €138 | €3,395 | +€3,257 | +2357.8% |
| Recurring financial charges | 65 | €138 | €3,395 | +€3,257 | +2357.8% |
| Profit (loss) for the period before taxes | 9903 | €46,843 | €13,714 | -€33,129 | -70.7% |
| Income taxes | 67/77 | €14,627 | €6,592 | -€8,035 | -54.9% |
| Profit (loss) for the period | 9904 | €32,216 | €7,122 | -€25,094 | -77.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,216 | €7,122 | -€25,094 | -77.9% |
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 8 October 2026 via checked.be.