HAUTE COUTURE: 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.
HAUTE COUTURE
Largest movements
- Tangible fixed assets +€251,374
up €251,374 (+85.1%), from €295,359 to €546,733
of which Land and buildings: +€249,662
- Receivables within one year -€35,053
down €35,053 (-65.9%), from €53,193 to €18,140
of which Other amounts receivable: -€28,885
- Deferred charges and accrued income -€17,851
down €17,851 (-93.6%), from €19,073 to €1,222
- Cash -€17,174
down €17,174 (-77.6%), from €22,143 to €4,968
mainly Investment in fixed assets (net) (-€297,255) and Tax, wage and social debts (-€9,393)
- Debts after one year +€169,843
up €169,843 (+75.4%), from €225,184 to €395,027
- Reserves +€22,334
up €22,334 (+26.4%), from €84,542 to €106,876
- Tax, wage and social debts -€9,393
down €9,393 (-58.2%), from €16,148 to €6,755
of which Taxes: -€9,393
- Trade debts -€6,641
down €6,641 (-82.8%), from €8,023 to €1,382
- Gross operating margin +€53,374
up €53,374 (+113%), from €47,194 to €100,568
- Depreciation +€33,725
up €33,725 (+283%), from €11,896 to €45,621
- Taxes +€5,090
up €5,090 (+67.2%), from €7,576 to €12,666
- Other operating charges +€4,235
up €4,235 (+74.9%), from €5,651 to €9,885
- Financial charges +€1,973
up €1,973 (+39.4%), from €5,004 to €6,977
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 | €389,943 | €571,498 | +€181,556 | +46.6% |
| Fixed assets | 21/28 | €295,359 | €546,993 | +€251,634 | +85.2% |
| Tangible fixed assets | 22/27 | €295,359 | €546,733 | +€251,374 | +85.1% |
| Land and buildings | 22 | €284,351 | €534,013 | +€249,662 | +87.8% |
| Plant, machinery and equipment | 23 | €4,046 | €4,256 | +€211 | +5.2% |
| Furniture and vehicles | 24 | €6,963 | €8,464 | +€1,501 | +21.6% |
| Financial fixed assets | 28 | - | €260 | +€260 | |
| Current assets | 29/58 | €94,583 | €24,505 | -€70,078 | -74.1% |
| Stocks and contracts in progress | 3 | €175 | €175 | = | 0.0% |
| Stocks | 30/36 | €175 | €175 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €53,193 | €18,140 | -€35,053 | -65.9% |
| Trade receivables | 40 | €19,474 | €13,306 | -€6,168 | -31.7% |
| Other amounts receivable | 41 | €33,718 | €4,834 | -€28,885 | -85.7% |
| Cash at bank and in hand | 54/58 | €22,143 | €4,968 | -€17,174 | -77.6% |
| Deferred charges and accrued income | 490/1 | €19,073 | €1,222 | -€17,851 | -93.6% |
| Total equity and liabilities | 10/49 | €389,943 | €571,498 | +€181,556 | +46.6% |
| Equity | 10/15 | €90,916 | €113,254 | +€22,338 | +24.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €84,542 | €106,876 | +€22,334 | +26.4% |
| Distributable reserves | 133 | €84,542 | €106,876 | +€22,334 | +26.4% |
| Profit (loss) carried forward | 14 | €174 | €178 | +€4 | +2.5% |
| Amounts payable | 17/49 | €299,027 | €458,244 | +€159,217 | +53.2% |
| Amounts payable after more than one year | 17 | €225,184 | €395,027 | +€169,843 | +75.4% |
| Financial debts | 170/4 | €225,184 | €395,027 | +€169,843 | +75.4% |
| Amounts payable within one year | 42/48 | €73,843 | €63,218 | -€10,625 | -14.4% |
| Current portion of amounts payable after more than one year | 42 | €31,275 | €33,601 | +€2,326 | +7.4% |
| Trade debts | 44 | €8,023 | €1,382 | -€6,641 | -82.8% |
| Suppliers | 440/4 | €8,023 | €1,382 | -€6,641 | -82.8% |
| Taxes, remuneration and social security | 45 | €16,148 | €6,755 | -€9,393 | -58.2% |
| Taxes | 450/3 | €15,968 | €6,575 | -€9,393 | -58.8% |
| Remuneration and social security | 454/9 | €181 | €181 | = | 0.0% |
| Other amounts payable | 47/48 | €18,398 | €21,480 | +€3,082 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,896 | €45,621 | +€33,725 | +283% |
| Other operating charges | 640/8 | €5,651 | €9,885 | +€4,235 | +74.9% |
| Non-recurring operating charges | 66A | - | €1,420 | +€1,420 | |
| Gross operating margin | 9900 | €47,194 | €100,568 | +€53,374 | +113% |
| Operating profit (loss) | 9901 | €29,647 | €43,641 | +€13,995 | +47.2% |
| Financial income | 75/76B | €436 | €6 | -€430 | -98.6% |
| Recurring financial income | 75 | €436 | €6 | -€430 | -98.6% |
| Financial charges | 65/66B | €5,004 | €6,977 | +€1,973 | +39.4% |
| Recurring financial charges | 65 | €5,004 | €6,977 | +€1,973 | +39.4% |
| Profit (loss) for the period before taxes | 9903 | €25,078 | €36,671 | +€11,592 | +46.2% |
| Income taxes | 67/77 | €7,576 | €12,666 | +€5,090 | +67.2% |
| Profit (loss) for the period | 9904 | €17,502 | €24,004 | +€6,502 | +37.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,502 | €24,004 | +€6,502 | +37.2% |
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 21 October 2026 via checked.be.