RABBIT: 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.
What changed
RABBIT
NACE 10.391, Manufacture of food products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1.4m
2024 · -€1.7m+€318,259
Equity
-€3.7m
2024 · -€3.2m-€421,153
Cash
€92,690
2024 · €207,503-€114,813
Balance sheet total
€4.2m
2024 · €3.8m+€375,392
Largest movements
Assets
- Receivables within one year +€382,190
up €382,190 (+34.7%), from €1.1m to €1.5m
of which Trade receivables: +€406,245
- Stocks and contracts +€313,306
up €313,306 (+42.0%), from €745,917 to €1.1m
- Tangible fixed assets -€205,237
down €205,237 (-17.1%), from €1.2m to €994,711
of which Plant, machinery and equipment: -€174,394
- Cash -€114,813
down €114,813 (-55.3%), from €207,503 to €92,690
mainly Net result for the year (-€1.4m) and Tax, wage and social debts (-€1.0m)
Equity and liabilities
- Profit (loss) carried forward -€1.4m
down €1.4m (-38.8%), from -€3.7m to -€5.1m
- Trade debts +€1.2m
up €1.2m (+60.8%), from €2.0m to €3.2m
- Tax, wage and social debts -€1.0m
down €1.0m (-66.9%), from €1.5m to €510,182
of which Taxes: -€574,837
- Contributions +€1.0m
up €1.0m (+1626.0%), from €61,500 to €1.1m
- Short-term financial debts +€584,228
up €584,228 (+890.5%), from €65,608 to €649,836
Income statement
- Goods and materials +€638,494
up €638,494 (+7.3%), from €8.8m to €9.4m
of which Purchases: +€993,780
- Services and other goods -€445,729
down €445,729 (-9.9%), from €4.5m to €4.1m
- Other operating charges -€161,655
down €161,655 (-66.5%), from €243,018 to €81,362
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.
Result 2024
-€1.7m
Turnover
+€142,891
Other operating income
-€17,697
Goods and materials
-€638,494
Services and other goods
+€445,729
Staff costs
+€104,586
Depreciation
+€35,536
Write-downs
+€17,127
Other operating charges
+€161,655
Other operating items
-€4,593
Financial income
-€5,214
Financial charges
+€76,392
Taxes
+€340
Result 2025
-€1.4m
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.
From operations
-€1.8m
Investment
-€312,835
Financing
+€2.0m
Cash 2024
€207,503
From operations (derived)
-€1.8m
Net result for the year
-€1.4m
Depreciation
+€508,057
Stocks and contracts
-€313,306
Receivables within one year
-€382,190
Deferred charges and accrued income
+€10,067
Trade debts
+€1.2m
Tax, wage and social debts
-€1.0m
Other debts
+€11,078
Accrued charges and deferred income
-€360,577
Investment (derived)
-€312,835
Investment in fixed assets (net)
-€312,835
Financing
+€2.0m
Debts after one year
+€375,000
Short-term financial debts
+€584,228
Contributions, distributions and other
+€993,971
Cash 2025
€92,690
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,816,379 | €4,191,771 | +€375,392 | +9.8% |
| Fixed assets | 21/28 | €1,506,999 | €1,311,776 | -€195,222 | -13.0% |
| Intangible fixed assets | 21 | €245,791 | €255,806 | +€10,014 | +4.1% |
| Tangible fixed assets | 22/27 | €1,199,947 | €994,711 | -€205,237 | -17.1% |
| Land and buildings | 22 | €3,855 | €2,827 | -€1,028 | -26.7% |
| Plant, machinery and equipment | 23 | €830,874 | €656,480 | -€174,394 | -21.0% |
| Furniture and vehicles | 24 | €20,742 | €33,558 | +€12,816 | +61.8% |
| Other tangible fixed assets | 26 | €344,477 | €301,846 | -€42,631 | -12.4% |
| Financial fixed assets | 28 | €61,260 | €61,260 | = | 0.0% |
| Other financial fixed assets | 284/8 | €61,260 | €61,260 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €61,260 | €61,260 | = | 0.0% |
| Current assets | 29/58 | €2,309,380 | €2,879,995 | +€570,615 | +24.7% |
| Stocks and contracts in progress | 3 | €745,917 | €1,059,223 | +€313,306 | +42.0% |
| Stocks | 30/36 | €745,917 | €1,059,223 | +€313,306 | +42.0% |
| Raw materials and consumables | 30/31 | €719,206 | €1,017,667 | +€298,461 | +41.5% |
| Finished goods | 33 | €26,711 | €41,556 | +€14,845 | +55.6% |
| Amounts receivable within one year | 40/41 | €1,100,104 | €1,482,293 | +€382,190 | +34.7% |
| Trade receivables | 40 | €973,478 | €1,379,723 | +€406,245 | +41.7% |
| Other amounts receivable | 41 | €126,625 | €102,570 | -€24,055 | -19.0% |
| Cash at bank and in hand | 54/58 | €207,503 | €92,690 | -€114,813 | -55.3% |
| Deferred charges and accrued income | 490/1 | €255,855 | €245,789 | -€10,067 | -3.9% |
| Total equity and liabilities | 10/49 | €3,816,379 | €4,191,771 | +€375,392 | +9.8% |
| Equity | 10/15 | -€3,245,927 | -€3,667,080 | -€421,153 | -13.0% |
| Contributions | 10/11 | €61,500 | €1,061,500 | +€1.0m | +1626.0% |
| Capital | 10 | €61,500 | €1,061,500 | +€1.0m | +1626.0% |
| Issued capital | 100 | €61,500 | €1,061,500 | +€1.0m | +1626.0% |
| Reserves | 13 | €306,686 | €306,686 | = | 0.0% |
| Non-distributable reserves | 130/1 | €52,691 | €52,691 | = | 0.0% |
| Legal reserve | 130 | €52,691 | €52,691 | = | 0.0% |
| Distributable reserves | 133 | €253,995 | €253,995 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,650,288 | -€5,065,413 | -€1.4m | -38.8% |
| Investment grants | 15 | €36,175 | €30,146 | -€6,029 | -16.7% |
| Amounts payable | 17/49 | €7,062,306 | €7,858,852 | +€796,546 | +11.3% |
| Amounts payable after more than one year | 17 | €2,725,000 | €3,100,000 | +€375,000 | +13.8% |
| Financial debts | 170/4 | €2,650,000 | €3,100,000 | +€450,000 | +17.0% |
| Subordinated loans | 170 | €2,650,000 | €1,800,000 | -€850,000 | -32.1% |
| Other loans | 174 | - | €1,300,000 | +€1.3m | |
| Trade debts | 175 | €75,000 | - | -€75,000 | |
| Suppliers | 1750 | €75,000 | - | -€75,000 | |
| Amounts payable within one year | 42/48 | €3,631,316 | €4,413,439 | +€782,123 | +21.5% |
| Financial debts | 43 | €65,608 | €649,836 | +€584,228 | +890.5% |
| Credit institutions | 430/8 | €65,608 | €649,836 | +€584,228 | +890.5% |
| Trade debts | 44 | €2,005,486 | €3,225,462 | +€1.2m | +60.8% |
| Suppliers | 440/4 | €2,005,486 | €3,225,462 | +€1.2m | +60.8% |
| Taxes, remuneration and social security | 45 | €1,543,341 | €510,182 | -€1.0m | -66.9% |
| Taxes | 450/3 | €602,362 | €27,525 | -€574,837 | -95.4% |
| Remuneration and social security | 454/9 | €940,979 | €482,657 | -€458,322 | -48.7% |
| Other amounts payable | 47/48 | €16,882 | €27,959 | +€11,078 | +65.6% |
| Accrued charges and deferred income | 492/3 | €705,990 | €345,412 | -€360,577 | -51.1% |
| Operating income | 70/76A | €15,917,277 | €16,037,878 | +€120,601 | +0.8% |
| Turnover | 70 | €15,720,381 | €15,863,272 | +€142,891 | +0.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €13,814 | €14,845 | +€1,031 | +7.5% |
| Other operating income | 74 | €177,458 | €159,761 | -€17,697 | -10.0% |
| Non-recurring operating income | 76A | €5,624 | - | -€5,624 | |
| Operating charges | 60/66A | €17,554,990 | €17,428,850 | -€126,140 | -0.7% |
| Goods for resale, raw materials and consumables | 60 | €8,779,336 | €9,417,830 | +€638,494 | +7.3% |
| Purchases | 600/8 | €8,705,384 | €9,699,164 | +€993,780 | +11.4% |
| Change in stocks: decrease (increase) | 609 | €73,952 | -€281,334 | -€355,286 | |
| Services and other goods | 61 | €4,507,443 | €4,061,713 | -€445,729 | -9.9% |
| Remuneration, social security and pensions | 62 | €3,481,600 | €3,377,014 | -€104,586 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €543,594 | €508,057 | -€35,536 | -6.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€17,127 | -€17,127 | |
| Other operating charges | 640/8 | €243,018 | €81,362 | -€161,655 | -66.5% |
| Operating profit (loss) | 9901 | -€1,637,713 | -€1,390,972 | +€246,740 | +15.1% |
| Financial income | 75/76B | €11,243 | €6,029 | -€5,214 | -46.4% |
| Recurring financial income | 75 | €11,243 | €6,029 | -€5,214 | -46.4% |
| Other financial income | 752/9 | €11,243 | €6,029 | -€5,214 | -46.4% |
| Financial charges | 65/66B | €105,219 | €28,827 | -€76,392 | -72.6% |
| Recurring financial charges | 65 | €105,219 | €28,827 | -€76,392 | -72.6% |
| Debt charges | 650 | €26,850 | €6,607 | -€20,243 | -75.4% |
| Other financial charges | 652/9 | €78,369 | €22,220 | -€56,149 | -71.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,731,689 | -€1,413,770 | +€317,919 | +18.4% |
| Income taxes | 67/77 | €1,694 | €1,354 | -€340 | -20.1% |
| Taxes | 670/3 | €1,694 | €1,354 | -€340 | -20.1% |
| Profit (loss) for the period | 9904 | -€1,733,383 | -€1,415,124 | +€318,259 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,733,383 | -€1,415,124 | +€318,259 | +18.4% |
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 2 October 2026 via checked.be.