Bubble Boutique: 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.
What changed
Bubble Boutique
NACE 46.900, Non-specialised wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€731,776
2024 · €55,484+€676,293
Equity
€14.8m
2024 · €14.1m+€731,776
Cash
€457,825
2024 · €646,714-€188,889
Balance sheet total
€14.9m
2024 · €17.5m-€2.6m
Largest movements
Assets
- Financial fixed assets -€3.8m
down €3.8m (-38.7%), from €9.7m to €5.9m
of which Affiliated companies: -€3.8m
- Current investments +€3.1m
up €3.1m (+311.5%), from €1.0m to €4.1m
- Receivables within one year -€1.6m
down €1.6m (-30.3%), from €5.4m to €3.8m
of which Other amounts receivable: -€1.5m
- Cash -€188,889
down €188,889 (-29.2%), from €646,714 to €457,825
mainly Other debts (-€3.3m) and Current investments (-€3.1m)
Equity and liabilities
- Other debts -€3.3m
down €3.3m (-100.0%), from €3.3m to €0
- Profit (loss) carried forward +€731,776
up €731,776 (+9.6%), from €7.7m to €8.4m
Income statement
- Financial charges -€3.0m
down €3.0m (-94.2%), from €3.2m to €185,741
of which Non-recurring financial charges: -€3.0m
- Financial income -€2.0m
down €2.0m (-60.3%), from €3.3m to €1.3m
- Turnover -€534,939
down €534,939 (-28.9%), from €1.9m to €1.3m
- Goods and materials -€439,894
down €439,894 (-39.8%), from €1.1m to €666,550
of which Purchases: -€369,583
- Staff costs +€46,039
up €46,039 (+22.9%), from €200,876 to €246,915
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.
Result 2024
€55,484
Turnover
-€534,939
Other operating income
-€64
Goods and materials
+€439,894
Services and other goods
-€5,690
Staff costs
-€46,039
Depreciation
+€5,541
Other operating charges
+€305
Other operating items
-€246,299
Financial income
-€2.0m
Financial charges
+€3.0m
Taxes
+€20,328
Result 2025
€731,776
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.
From operations
-€825,295
Investment
+€636,406
Financing
€0
Cash 2024
€646,714
From operations (derived)
-€825,295
Net result for the year
+€731,776
Depreciation
+€188,961
Receivables after one year
-€29,298
Stocks and contracts
-€16,115
Receivables within one year
+€1.6m
Smaller working-capital items
-€15,497
Trade debts
-€15,083
Other debts
-€3.3m
Investment (derived)
+€636,406
Investment in fixed assets (net)
+€3.8m
Current investments
-€3.1m
Cash 2025
€457,825
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,472,526 | €14,876,953 | -€2.6m | -14.9% |
| Fixed assets | 21/28 | €10,225,642 | €6,285,299 | -€3.9m | -38.5% |
| Intangible fixed assets | 21 | €175,806 | €52,186 | -€123,620 | -70.3% |
| Tangible fixed assets | 22/27 | €363,590 | €298,249 | -€65,341 | -18.0% |
| Plant, machinery and equipment | 23 | €322,141 | €263,205 | -€58,936 | -18.3% |
| Furniture and vehicles | 24 | €41,449 | €35,044 | -€6,405 | -15.5% |
| Financial fixed assets | 28 | €9,686,247 | €5,934,864 | -€3.8m | -38.7% |
| Affiliated companies | 280/1 | €9,596,247 | €5,844,864 | -€3.8m | -39.1% |
| Participating interests | 280 | €9,596,247 | €5,844,864 | -€3.8m | -39.1% |
| Companies linked by participating interests | 282/3 | €90,000 | €90,000 | = | 0.0% |
| Participating interests | 282 | €90,000 | €90,000 | = | 0.0% |
| Current assets | 29/58 | €7,246,884 | €8,591,654 | +€1.3m | +18.6% |
| Amounts receivable after more than one year | 29 | €124,702 | €154,000 | +€29,298 | +23.5% |
| Other amounts receivable | 291 | €124,702 | €154,000 | +€29,298 | +23.5% |
| Stocks and contracts in progress | 3 | €90,549 | €106,664 | +€16,115 | +17.8% |
| Stocks | 30/36 | €90,549 | €106,664 | +€16,115 | +17.8% |
| Goods purchased for resale | 34 | €90,549 | €106,664 | +€16,115 | +17.8% |
| Amounts receivable within one year | 40/41 | €5,382,085 | €3,751,924 | -€1.6m | -30.3% |
| Trade receivables | 40 | €94,922 | €3,198 | -€91,724 | -96.6% |
| Other amounts receivable | 41 | €5,287,163 | €3,748,726 | -€1.5m | -29.1% |
| Current investments | 50/53 | €1,000,000 | €4,114,977 | +€3.1m | +311.5% |
| Other investments | 51/53 | €1,000,000 | €4,114,977 | +€3.1m | +311.5% |
| Cash at bank and in hand | 54/58 | €646,714 | €457,825 | -€188,889 | -29.2% |
| Deferred charges and accrued income | 490/1 | €2,834 | €6,265 | +€3,431 | +121.0% |
| Total equity and liabilities | 10/49 | €17,472,526 | €14,876,953 | -€2.6m | -14.9% |
| Equity | 10/15 | €14,103,764 | €14,835,541 | +€731,776 | +5.2% |
| Contributions | 10/11 | €6,300,000 | €6,300,000 | = | 0.0% |
| Reserves | 13 | €150,000 | €150,000 | = | 0.0% |
| Distributable reserves | 133 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,653,764 | €8,385,541 | +€731,776 | +9.6% |
| Amounts payable | 17/49 | €3,368,762 | €41,412 | -€3.3m | -98.8% |
| Amounts payable within one year | 42/48 | €3,363,992 | €41,412 | -€3.3m | -98.8% |
| Trade debts | 44 | €18,071 | €2,987 | -€15,083 | -83.5% |
| Suppliers | 440/4 | €18,071 | €2,987 | -€15,083 | -83.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €45,721 | €38,425 | -€7,296 | -16.0% |
| Taxes | 450/3 | €11,954 | €7,766 | -€4,188 | -35.0% |
| Remuneration and social security | 454/9 | €33,767 | €30,659 | -€3,108 | -9.2% |
| Other amounts payable | 47/48 | €3,300,200 | €0 | -€3.3m | -100.0% |
| Accrued charges and deferred income | 492/3 | €4,770 | €0 | -€4,770 | -100.0% |
| Operating income | 70/76A | €1,852,653 | €2,348,929 | +€496,276 | +26.8% |
| Turnover | 70 | €1,850,045 | €1,315,106 | -€534,939 | -28.9% |
| Other operating income | 74 | €2,492 | €2,428 | -€64 | -2.6% |
| Non-recurring operating income | 76A | €116 | €1,031,396 | +€1.0m | +892265.2% |
| Operating charges | 60/66A | €1,818,090 | €2,701,659 | +€883,570 | +48.6% |
| Goods for resale, raw materials and consumables | 60 | €1,106,444 | €666,550 | -€439,894 | -39.8% |
| Purchases | 600/8 | €1,052,248 | €682,664 | -€369,583 | -35.1% |
| Change in stocks: decrease (increase) | 609 | €54,196 | -€16,115 | -€70,310 | |
| Services and other goods | 61 | €299,067 | €304,757 | +€5,690 | +1.9% |
| Remuneration, social security and pensions | 62 | €200,876 | €246,915 | +€46,039 | +22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €194,501 | €188,961 | -€5,541 | -2.8% |
| Other operating charges | 640/8 | €17,202 | €16,897 | -€305 | -1.8% |
| Non-recurring operating charges | 66A | €0 | €1,277,579 | +€1.3m | |
| Operating profit (loss) | 9901 | €34,563 | -€352,730 | -€387,293 | |
| Financial income | 75/76B | €3,302,141 | €1,312,428 | -€2.0m | -60.3% |
| Recurring financial income | 75 | €3,302,141 | €1,312,428 | -€2.0m | -60.3% |
| Income from financial fixed assets | 750 | €3,000,000 | €1,062,500 | -€1.9m | -64.6% |
| Income from current assets | 751 | €297,902 | €248,884 | -€49,019 | -16.5% |
| Other financial income | 752/9 | €4,238 | €1,044 | -€3,194 | -75.4% |
| Financial charges | 65/66B | €3,218,712 | €185,741 | -€3.0m | -94.2% |
| Recurring financial charges | 65 | €218,712 | €185,741 | -€32,971 | -15.1% |
| Debt charges | 650 | €217,863 | €183,880 | -€33,983 | -15.6% |
| Other financial charges | 652/9 | €849 | €1,862 | +€1,013 | +119.2% |
| Non-recurring financial charges | 66B | €3,000,000 | €0 | -€3.0m | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €117,992 | €773,956 | +€655,965 | +555.9% |
| Income taxes | 67/77 | €62,508 | €42,180 | -€20,328 | -32.5% |
| Taxes | 670/3 | €62,508 | €42,180 | -€20,328 | -32.5% |
| Profit (loss) for the period | 9904 | €55,484 | €731,776 | +€676,293 | +1218.9% |
| Profit (loss) for the period to be appropriated | 9905 | €55,484 | €731,776 | +€676,293 | +1218.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.