BOUTIQUE.BRANDS: 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.BRANDS
Largest movements
- Receivables within one year +€1.1m
up €1.1m (+832%), from €131,253 to €1.2m
of which Trade receivables: +€748,828
- Stocks and contracts -€697,201
down €697,201 (-100%), from €697,201 to €0
- Cash +€34,616
up €34,616 (+25.2%), from €137,619 to €172,236
mainly Other debts (+€1.2m) and Stocks and contracts (+€697,201)
- Other debts +€1.2m
new in 2025: €1.2m
- Reserves -€833,713
down €833,713 (-99.8%), from €835,573 to €1,860
of which Distributable reserves: -€833,713
- Trade debts +€56,348
up €56,348 (+151%), from €37,225 to €93,573
- Tax, wage and social debts -€30,290
down €30,290 (-51.0%), from €59,446 to €29,156
of which Taxes: -€22,415
- Gross operating margin -€182,483
down €182,483 (-32.4%), from €563,288 to €380,805
- Staff costs -€64,227
down €64,227 (-18.3%), from €350,311 to €286,084
- Taxes -€25,966
down €25,966 (-55.4%), from €46,865 to €20,899
- Financial charges -€17,308
down €17,308 (-61.8%), from €28,012 to €10,704
- Other operating charges +€10,422
up €10,422 (+67.1%), from €15,527 to €25,949
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 | €975,843 | €1,398,851 | +€423,008 | +43.3% |
| Fixed assets | 21/28 | €4,380 | €750 | -€3,631 | -82.9% |
| Intangible fixed assets | 21 | €1,429 | €207 | -€1,222 | -85.5% |
| Tangible fixed assets | 22/27 | €2,951 | €542 | -€2,408 | -81.6% |
| Plant, machinery and equipment | 23 | €2,344 | €542 | -€1,801 | -76.9% |
| Furniture and vehicles | 24 | €607 | €0 | -€607 | -100% |
| Current assets | 29/58 | €971,462 | €1,398,102 | +€426,639 | +43.9% |
| Stocks and contracts in progress | 3 | €697,201 | €0 | -€697,201 | -100% |
| Stocks | 30/36 | €697,201 | €0 | -€697,201 | -100% |
| Amounts receivable within one year | 40/41 | €131,253 | €1,222,666 | +€1.1m | +832% |
| Trade receivables | 40 | €98,118 | €846,946 | +€748,828 | +763% |
| Other amounts receivable | 41 | €33,135 | €375,720 | +€342,585 | +1,034% |
| Cash at bank and in hand | 54/58 | €137,619 | €172,236 | +€34,616 | +25.2% |
| Deferred charges and accrued income | 490/1 | €5,389 | €3,200 | -€2,189 | -40.6% |
| Total equity and liabilities | 10/49 | €975,843 | €1,398,851 | +€423,008 | +43.3% |
| Equity | 10/15 | €854,173 | €20,460 | -€833,713 | -97.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €835,573 | €1,860 | -€833,713 | -99.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €833,713 | €0 | -€833,713 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €121,670 | €1,378,391 | +€1.3m | +1,033% |
| Amounts payable within one year | 42/48 | €121,670 | €1,378,391 | +€1.3m | +1,033% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €25,524 | +€524 | +2.1% |
| Trade debts | 44 | €37,225 | €93,573 | +€56,348 | +151% |
| Suppliers | 440/4 | €37,225 | €93,573 | +€56,348 | +151% |
| Taxes, remuneration and social security | 45 | €59,446 | €29,156 | -€30,290 | -51.0% |
| Taxes | 450/3 | €22,415 | €0 | -€22,415 | -100% |
| Remuneration and social security | 454/9 | €37,030 | €29,156 | -€7,875 | -21.3% |
| Other amounts payable | 47/48 | - | €1,230,139 | +€1.2m | |
| Remuneration, social security and pensions | 62 | €350,311 | €286,084 | -€64,227 | -18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,737 | €3,631 | -€5,107 | -58.4% |
| Other operating charges | 640/8 | €15,527 | €25,949 | +€10,422 | +67.1% |
| Gross operating margin | 9900 | €563,288 | €380,805 | -€182,483 | -32.4% |
| Operating profit (loss) | 9901 | €188,712 | €65,141 | -€123,571 | -65.5% |
| Financial income | 75/76B | €1,681 | €9,163 | +€7,482 | +445% |
| Recurring financial income | 75 | €1,681 | €9,163 | +€7,482 | +445% |
| Financial charges | 65/66B | €28,012 | €10,704 | -€17,308 | -61.8% |
| Recurring financial charges | 65 | €28,012 | €10,704 | -€17,308 | -61.8% |
| Profit (loss) for the period before taxes | 9903 | €162,382 | €63,601 | -€98,781 | -60.8% |
| Income taxes | 67/77 | €46,865 | €20,899 | -€25,966 | -55.4% |
| Profit (loss) for the period | 9904 | €115,517 | €42,702 | -€72,815 | -63.0% |
| Profit (loss) for the period to be appropriated | 9905 | €115,517 | €42,702 | -€72,815 | -63.0% |
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 28 October 2026 via checked.be.