RUSHING ELEPHANTS: 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.
RUSHING ELEPHANTS
Largest movements
- Tangible fixed assets -€12,637
down €12,637 (-44.0%), from €28,698 to €16,061
of which Furniture and vehicles: -€8,562
- Receivables within one year +€12,078
up €12,078 (+59.0%), from €20,473 to €32,551
of which Trade receivables: +€12,306
- Cash +€2,504
up €2,504 (+37.2%), from €6,737 to €9,241
mainly Depreciation (+€15,278) and Tax, wage and social debts (+€13,734)
- Tax, wage and social debts +€13,734
up €13,734 (+110%), from €12,448 to €26,182
of which Remuneration and social security: +€11,836
- Profit (loss) carried forward -€12,450
down €12,450 (-53.0%), from -€23,489 to -€35,939
- Debts after one year +€10,000
up €10,000 (+40.0%), from €25,000 to €35,000
- Trade debts -€8,207
down €8,207 (-92.1%), from €8,914 to €708
- Accrued charges and deferred income -€3,571
down €3,571 (-100%), from €3,571 to €0
- Gross operating margin +€14,249
up €14,249 (+36.4%), from €39,153 to €53,402
- Depreciation +€1,185
up €1,185 (+8.4%), from €14,093 to €15,278
- Staff costs +€950
up €950 (+2.0%), from €47,425 to €48,375
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 | €56,862 | €58,288 | +€1,425 | +2.5% |
| Fixed assets | 21/28 | €29,104 | €16,316 | -€12,788 | -43.9% |
| Intangible fixed assets | 21 | €256 | €105 | -€151 | -59.1% |
| Tangible fixed assets | 22/27 | €28,698 | €16,061 | -€12,637 | -44.0% |
| Plant, machinery and equipment | 23 | €12,827 | €8,753 | -€4,075 | -31.8% |
| Furniture and vehicles | 24 | €15,871 | €7,308 | -€8,562 | -54.0% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €27,759 | €41,972 | +€14,214 | +51.2% |
| Amounts receivable within one year | 40/41 | €20,473 | €32,551 | +€12,078 | +59.0% |
| Trade receivables | 40 | €19,883 | €32,188 | +€12,306 | +61.9% |
| Other amounts receivable | 41 | €590 | €363 | -€228 | -38.6% |
| Cash at bank and in hand | 54/58 | €6,737 | €9,241 | +€2,504 | +37.2% |
| Deferred charges and accrued income | 490/1 | €548 | €180 | -€368 | -67.2% |
| Total equity and liabilities | 10/49 | €56,862 | €58,288 | +€1,425 | +2.5% |
| Equity | 10/15 | -€942 | -€13,392 | -€12,450 | -1,322% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,947 | €3,947 | = | 0.0% |
| Distributable reserves | 133 | €3,947 | €3,947 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,489 | -€35,939 | -€12,450 | -53.0% |
| Amounts payable | 17/49 | €57,804 | €71,679 | +€13,875 | +24.0% |
| Amounts payable after more than one year | 17 | €25,000 | €35,000 | +€10,000 | +40.0% |
| Financial debts | 170/4 | €25,000 | €35,000 | +€10,000 | +40.0% |
| Amounts payable within one year | 42/48 | €29,233 | €36,679 | +€7,447 | +25.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | €93 | +€93 | |
| Credit institutions | 430/8 | €0 | €93 | +€93 | |
| Trade debts | 44 | €8,914 | €708 | -€8,207 | -92.1% |
| Suppliers | 440/4 | €8,914 | €708 | -€8,207 | -92.1% |
| Taxes, remuneration and social security | 45 | €12,448 | €26,182 | +€13,734 | +110% |
| Taxes | 450/3 | €5,156 | €7,054 | +€1,898 | +36.8% |
| Remuneration and social security | 454/9 | €7,292 | €19,128 | +€11,836 | +162% |
| Other amounts payable | 47/48 | €7,870 | €9,696 | +€1,826 | +23.2% |
| Accrued charges and deferred income | 492/3 | €3,571 | €0 | -€3,571 | -100% |
| Remuneration, social security and pensions | 62 | €47,425 | €48,375 | +€950 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,093 | €15,278 | +€1,185 | +8.4% |
| Other operating charges | 640/8 | €688 | €657 | -€30 | -4.4% |
| Non-recurring operating charges | 66A | €0 | €1,100 | +€1,100 | |
| Gross operating margin | 9900 | €39,153 | €53,402 | +€14,249 | +36.4% |
| Operating profit (loss) | 9901 | -€23,053 | -€12,008 | +€11,045 | +47.9% |
| Financial income | 75/76B | €1 | €3 | +€2 | +418% |
| Recurring financial income | 75 | €1 | €3 | +€2 | +418% |
| Financial charges | 65/66B | €332 | €304 | -€28 | -8.5% |
| Recurring financial charges | 65 | €332 | €304 | -€28 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | -€23,384 | -€12,309 | +€11,075 | +47.4% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€23,524 | -€12,450 | +€11,074 | +47.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,524 | -€12,450 | +€11,074 | +47.1% |
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 21 October 2026 via checked.be.