BOUTIQUE 98: 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.
BOUTIQUE 98
Largest movements
- Tangible fixed assets +€20,594
up €20,594 (+153%), from €13,501 to €34,095
of which Plant, machinery and equipment: +€20,873
- Cash +€10,522
up €10,522 (+59.5%), from €17,684 to €28,206
mainly Debts after one year (+€18,164) and Trade debts (+€7,062)
- Receivables within one year +€2,132
up €2,132 (+35.7%), from €5,978 to €8,110
of which Trade receivables: +€1,091
- Profit (loss) carried forward +€18,875
up €18,875 (+178%), from €10,576 to €29,451
- Debts after one year +€18,164
new in 2025: €18,164
- Reserves -€13,667
no longer reported in 2025 (was €13,667)
- Trade debts +€7,062
up €7,062 (+281%), from €2,517 to €9,579
- Current portion of long-term debt +€4,877
new in 2025: €4,877
- Turnover -€79,628
no longer reported in 2025 (was €79,628)
- Purchases and services -€69,825
no longer reported in 2025 (was €69,825)
- Gross operating margin +€7,741
up €7,741 (+79.0%), from €9,804 to €17,544
- Financial charges +€2,936
up €2,936 (+111%), from €2,634 to €5,569
of which Non-recurring financial charges: +€4,184
- Taxes -€2,882
down €2,882 (-76.2%), from €3,782 to €900
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 | €37,476 | €70,569 | +€33,093 | +88.3% |
| Fixed assets | 21/28 | €13,815 | €34,095 | +€20,281 | +147% |
| Intangible fixed assets | 21 | €313 | - | -€313 | |
| Tangible fixed assets | 22/27 | €13,501 | €34,095 | +€20,594 | +153% |
| Land and buildings | 22 | €1,117 | €838 | -€279 | -25.0% |
| Plant, machinery and equipment | 23 | €12,384 | €33,257 | +€20,873 | +169% |
| Current assets | 29/58 | €23,662 | €36,474 | +€12,812 | +54.1% |
| Amounts receivable within one year | 40/41 | €5,978 | €8,110 | +€2,132 | +35.7% |
| Trade receivables | 40 | €3,429 | €4,521 | +€1,091 | +31.8% |
| Other amounts receivable | 41 | €2,549 | €3,589 | +€1,040 | +40.8% |
| Cash at bank and in hand | 54/58 | €17,684 | €28,206 | +€10,522 | +59.5% |
| Deferred charges and accrued income | 490/1 | - | €158 | +€158 | |
| Total equity and liabilities | 10/49 | €37,476 | €70,569 | +€33,093 | +88.3% |
| Equity | 10/15 | €30,447 | €35,655 | +€5,209 | +17.1% |
| Contributions | 10/11 | €6,204 | €6,204 | = | 0.0% |
| Capital | 10 | €6,204 | - | -€6,204 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,396 | - | -€12,396 | |
| Reserves | 13 | €13,667 | - | -€13,667 | |
| Tax-exempt reserves | 132 | €13,667 | - | -€13,667 | |
| Profit (loss) carried forward | 14 | €10,576 | €29,451 | +€18,875 | +178% |
| Amounts payable | 17/49 | €7,030 | €34,914 | +€27,884 | +397% |
| Amounts payable after more than one year | 17 | - | €18,164 | +€18,164 | |
| Financial debts | 170/4 | - | €18,164 | +€18,164 | |
| Amounts payable within one year | 42/48 | €7,030 | €16,750 | +€9,720 | +138% |
| Current portion of amounts payable after more than one year | 42 | - | €4,877 | +€4,877 | |
| Trade debts | 44 | €2,517 | €9,579 | +€7,062 | +281% |
| Suppliers | 440/4 | €2,517 | €9,579 | +€7,062 | +281% |
| Taxes, remuneration and social security | 45 | €4,513 | €2,294 | -€2,219 | -49.2% |
| Taxes | 450/3 | €4,513 | €2,294 | -€2,219 | -49.2% |
| Turnover | 70 | €79,628 | - | -€79,628 | |
| Goods, raw materials, services and sundry goods | 60/61 | €69,825 | - | -€69,825 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,689 | €5,519 | +€1,831 | +49.6% |
| Other operating charges | 640/8 | €417 | €526 | +€108 | +26.0% |
| Gross operating margin | 9900 | €9,804 | €17,544 | +€7,741 | +79.0% |
| Operating profit (loss) | 9901 | €5,697 | €11,499 | +€5,801 | +102% |
| Financial income | 75/76B | - | €179 | +€179 | |
| Recurring financial income | 75 | - | €179 | +€179 | |
| Financial charges | 65/66B | €2,634 | €5,569 | +€2,936 | +111% |
| Recurring financial charges | 65 | €2,634 | €1,385 | -€1,248 | -47.4% |
| Non-recurring financial charges | 66B | - | €4,184 | +€4,184 | |
| Profit (loss) for the period before taxes | 9903 | €3,064 | €6,109 | +€3,045 | +99.4% |
| Income taxes | 67/77 | €3,782 | €900 | -€2,882 | -76.2% |
| Profit (loss) for the period | 9904 | -€718 | €5,209 | +€5,927 | |
| Transfer from tax-exempt reserves | 789 | - | €13,667 | +€13,667 | |
| Profit (loss) for the period to be appropriated | 9905 | -€718 | €18,875 | +€19,593 |
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 15 October 2026 via checked.be.