White Hare: 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.
White Hare
Largest movements
- Tangible fixed assets -€7,142
down €7,142 (-44.8%), from €15,939 to €8,797
of which Furniture and vehicles: -€6,965
- Cash -€3,085
down €3,085 (-12.5%), from €24,652 to €21,567
mainly Contributions, distributions and other (-€25,709) and Other debts (-€11,988)
- Deferred charges and accrued income -€2,947
down €2,947 (-60.5%), from €4,874 to €1,927
- Receivables within one year -€1,753
down €1,753 (-4.7%), from €37,020 to €35,266
of which Trade receivables: -€1,228
- Other debts -€11,988
down €11,988 (-31.0%), from €38,636 to €26,648
- Tax, wage and social debts -€2,917
down €2,917 (-31.2%), from €9,345 to €6,429
- Gross operating margin -€19,023
down €19,023 (-28.5%), from €66,699 to €47,676
- Depreciation -€3,757
down €3,757 (-22.4%), from €16,768 to €13,011
- Taxes -€3,053
down €3,053 (-29.5%), from €10,350 to €7,298
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 | €82,485 | €67,558 | -€14,927 | -18.1% |
| Fixed assets | 21/28 | €15,939 | €8,797 | -€7,142 | -44.8% |
| Tangible fixed assets | 22/27 | €15,939 | €8,797 | -€7,142 | -44.8% |
| Plant, machinery and equipment | 23 | €728 | €551 | -€177 | -24.3% |
| Furniture and vehicles | 24 | €15,211 | €8,246 | -€6,965 | -45.8% |
| Current assets | 29/58 | €66,546 | €58,761 | -€7,785 | -11.7% |
| Amounts receivable within one year | 40/41 | €37,020 | €35,266 | -€1,753 | -4.7% |
| Trade receivables | 40 | €33,792 | €32,564 | -€1,228 | -3.6% |
| Other amounts receivable | 41 | €3,228 | €2,702 | -€525 | -16.3% |
| Cash at bank and in hand | 54/58 | €24,652 | €21,567 | -€3,085 | -12.5% |
| Deferred charges and accrued income | 490/1 | €4,874 | €1,927 | -€2,947 | -60.5% |
| Total equity and liabilities | 10/49 | €82,485 | €67,558 | -€14,927 | -18.1% |
| Equity | 10/15 | €32,577 | €32,577 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,977 | €13,977 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,977 | €13,977 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €49,909 | €34,981 | -€14,927 | -29.9% |
| Amounts payable within one year | 42/48 | €49,909 | €34,981 | -€14,927 | -29.9% |
| Financial debts | 43 | €33 | €132 | +€99 | +300% |
| Credit institutions | 430/8 | €33 | €132 | +€99 | +300% |
| Trade debts | 44 | €1,894 | €1,773 | -€122 | -6.4% |
| Suppliers | 440/4 | €1,894 | €1,773 | -€122 | -6.4% |
| Taxes, remuneration and social security | 45 | €9,345 | €6,429 | -€2,917 | -31.2% |
| Taxes | 450/3 | €9,345 | €6,429 | -€2,917 | -31.2% |
| Other amounts payable | 47/48 | €38,636 | €26,648 | -€11,988 | -31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,768 | €13,011 | -€3,757 | -22.4% |
| Other operating charges | 640/8 | €813 | €465 | -€348 | -42.8% |
| Non-recurring operating charges | 66A | - | €1,111 | +€1,111 | |
| Gross operating margin | 9900 | €66,699 | €47,676 | -€19,023 | -28.5% |
| Operating profit (loss) | 9901 | €49,118 | €33,089 | -€16,029 | -32.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €132 | €83 | -€50 | -37.7% |
| Recurring financial charges | 65 | €132 | €83 | -€50 | -37.7% |
| Profit (loss) for the period before taxes | 9903 | €48,986 | €33,007 | -€15,979 | -32.6% |
| Income taxes | 67/77 | €10,350 | €7,298 | -€3,053 | -29.5% |
| Profit (loss) for the period | 9904 | €38,636 | €25,709 | -€12,926 | -33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,636 | €25,709 | -€12,926 | -33.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.