Boutique Estates: 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.
Boutique Estates
Largest movements
- Tangible fixed assets -€25,665
down €25,665 (-62.5%), from €41,068 to €15,403
of which Furniture and vehicles: -€23,269
- Receivables within one year -€17,009
down €17,009 (-80.1%), from €21,232 to €4,223
of which Trade receivables: -€17,966
- Deferred charges and accrued income -€4,870
no longer reported in 2025 (was €4,870)
- Cash +€2,003
up €2,003 (+4.7%), from €42,482 to €44,485
mainly Investment in fixed assets (net) (+€17,773) and Receivables within one year (+€17,009)
- Profit (loss) carried forward -€26,244
down €26,244 (-42.6%), from -€61,663 to -€87,907
- Accrued charges and deferred income -€20,338
no longer reported in 2025 (was €20,338)
- Trade debts +€11,694
up €11,694 (+39802.7%), from €29 to €11,723
- Tax, wage and social debts -€11,095
down €11,095 (-57.2%), from €19,397 to €8,302
of which Taxes: -€11,545
- Gross operating margin -€22,096
down €22,096 (-92.5%), from €23,880 to €1,784
- Depreciation -€6,170
down €6,170 (-43.9%), from €14,063 to €7,892
- Staff costs +€2,410
up €2,410 (+20.7%), from €11,643 to €14,053
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €109,652 | €64,111 | -€45,541 | -41.5% |
| Fixed assets | 21/28 | €41,068 | €15,403 | -€25,665 | -62.5% |
| Tangible fixed assets | 22/27 | €41,068 | €15,403 | -€25,665 | -62.5% |
| Plant, machinery and equipment | 23 | €13,009 | €10,613 | -€2,396 | -18.4% |
| Furniture and vehicles | 24 | €28,059 | €4,790 | -€23,269 | -82.9% |
| Current assets | 29/58 | €68,584 | €48,709 | -€19,876 | -29.0% |
| Amounts receivable within one year | 40/41 | €21,232 | €4,223 | -€17,009 | -80.1% |
| Trade receivables | 40 | €20,117 | €2,151 | -€17,966 | -89.3% |
| Other amounts receivable | 41 | €1,115 | €2,072 | +€957 | +85.8% |
| Cash at bank and in hand | 54/58 | €42,482 | €44,485 | +€2,003 | +4.7% |
| Deferred charges and accrued income | 490/1 | €4,870 | - | -€4,870 | |
| Total equity and liabilities | 10/49 | €109,652 | €64,111 | -€45,541 | -41.5% |
| Equity | 10/15 | -€22,775 | -€49,019 | -€26,244 | -115.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €28,888 | €28,888 | = | 0.0% |
| Distributable reserves | 133 | €28,888 | €28,888 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,663 | -€87,907 | -€26,244 | -42.6% |
| Amounts payable | 17/49 | €132,427 | €113,130 | -€19,296 | -14.6% |
| Amounts payable within one year | 42/48 | €112,089 | €113,130 | +€1,042 | +0.9% |
| Trade debts | 44 | €29 | €11,723 | +€11,694 | +39802.7% |
| Suppliers | 440/4 | €29 | €11,723 | +€11,694 | +39802.7% |
| Taxes, remuneration and social security | 45 | €19,397 | €8,302 | -€11,095 | -57.2% |
| Taxes | 450/3 | €13,718 | €2,174 | -€11,545 | -84.2% |
| Remuneration and social security | 454/9 | €5,678 | €6,128 | +€450 | +7.9% |
| Other amounts payable | 47/48 | €92,663 | €93,105 | +€442 | +0.5% |
| Accrued charges and deferred income | 492/3 | €20,338 | - | -€20,338 | |
| Remuneration, social security and pensions | 62 | €11,643 | €14,053 | +€2,410 | +20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,063 | €7,892 | -€6,170 | -43.9% |
| Other operating charges | 640/8 | €4,733 | €4,690 | -€43 | -0.9% |
| Gross operating margin | 9900 | €23,880 | €1,784 | -€22,096 | -92.5% |
| Operating profit (loss) | 9901 | -€6,558 | -€24,851 | -€18,293 | -279.0% |
| Financial income | 75/76B | €816 | €893 | +€77 | +9.4% |
| Recurring financial income | 75 | €816 | €893 | +€77 | +9.4% |
| Financial charges | 65/66B | €1,877 | €2,112 | +€235 | +12.5% |
| Recurring financial charges | 65 | €1,877 | €2,112 | +€235 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | -€7,619 | -€26,070 | -€18,451 | -242.2% |
| Income taxes | 67/77 | €319 | €174 | -€145 | -45.4% |
| Profit (loss) for the period | 9904 | -€7,938 | -€26,244 | -€18,306 | -230.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,938 | -€26,244 | -€18,306 | -230.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.