CAPITALE MUSIC: 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.
What changed
CAPITALE MUSIC
NACE 90.202, Performing arts by artistic ensembles
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€408,391
2024 · €254,302-€662,694
Equity
€1.3m
2024 · €1.7m-€408,391
Cash
€75,050
2024 · €53,482+€21,567
Balance sheet total
€2.8m
2024 · €3.2m-€332,822
Largest movements
Assets
- Intangible fixed assets -€394,118
down €394,118 (-33.3%), from €1.2m to €788,236
- Receivables within one year +€221,475
up €221,475 (+13.1%), from €1.7m to €1.9m
of which Other amounts receivable: +€197,330
- Current investments -€175,000
no longer reported in 2025 (was €175,000)
Equity and liabilities
- Profit (loss) carried forward -€408,391
down €408,391 (-29.4%), from €1.4m to €979,537
- Trade debts +€77,725
up €77,725 (+20.4%), from €380,294 to €458,019
Income statement
- Gross operating margin -€923,852
down €923,852, from €906,595 to -€17,258
- Taxes -€239,596
down €239,596 (-95.8%), from €250,075 to €10,479
- Other operating charges -€14,375
down €14,375 (-65.1%), from €22,094 to €7,719
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
€254,302
Gross operating margin
-€923,852
Depreciation
+€891
Other operating charges
+€14,375
Financial income
+€5,299
Financial charges
+€997
Taxes
+€239,596
Result 2025
-€408,391
raises the resultlowers the result
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.
From operations
-€136,876
Investment
+€164,589
Financing
-€6,146
Cash 2024
€53,482
From operations (derived)
-€136,876
Net result for the year
-€408,391
Depreciation
+€409,453
Receivables within one year
-€221,475
Deferred charges and accrued income
+€1,822
Trade debts
+€77,725
Tax, wage and social debts
+€6,065
Other debts
-€2,075
Investment (derived)
+€164,589
Investment in fixed assets (net)
-€10,411
Current investments
+€175,000
Financing
-€6,146
Debts after one year
-€4,168
Current portion of long-term debt
-€1,978
Cash 2025
€75,050
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,165,023 | €2,832,201 | -€332,822 | -10.5% |
| Fixed assets | 21/28 | €1,238,143 | €839,101 | -€399,042 | -32.2% |
| Intangible fixed assets | 21 | €1,182,354 | €788,236 | -€394,118 | -33.3% |
| Tangible fixed assets | 22/27 | €55,605 | €50,682 | -€4,924 | -8.9% |
| Land and buildings | 22 | €20,082 | €20,082 | = | 0.0% |
| Plant, machinery and equipment | 23 | €168 | €7,084 | +€6,916 | +4,114% |
| Furniture and vehicles | 24 | €20,430 | €14,480 | -€5,950 | -29.1% |
| Other tangible fixed assets | 26 | €14,925 | €9,036 | -€5,890 | -39.5% |
| Financial fixed assets | 28 | €183 | €183 | = | 0.0% |
| Current assets | 29/58 | €1,926,880 | €1,993,100 | +€66,220 | +3.4% |
| Amounts receivable within one year | 40/41 | €1,695,218 | €1,916,693 | +€221,475 | +13.1% |
| Trade receivables | 40 | €984,376 | €1,008,522 | +€24,146 | +2.5% |
| Other amounts receivable | 41 | €710,842 | €908,172 | +€197,330 | +27.8% |
| Current investments | 50/53 | €175,000 | - | -€175,000 | |
| Cash at bank and in hand | 54/58 | €53,482 | €75,050 | +€21,567 | +40.3% |
| Deferred charges and accrued income | 490/1 | €3,179 | €1,357 | -€1,822 | -57.3% |
| Total equity and liabilities | 10/49 | €3,165,023 | €2,832,201 | -€332,822 | -10.5% |
| Equity | 10/15 | €1,710,431 | €1,302,039 | -€408,391 | -23.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €260,502 | €260,502 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €254,302 | €254,302 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,387,928 | €979,537 | -€408,391 | -29.4% |
| Amounts payable | 17/49 | €1,454,592 | €1,530,162 | +€75,570 | +5.2% |
| Amounts payable after more than one year | 17 | €7,758 | €3,591 | -€4,168 | -53.7% |
| Financial debts | 170/4 | €7,758 | €3,591 | -€4,168 | -53.7% |
| Amounts payable within one year | 42/48 | €638,603 | €718,340 | +€79,737 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €6,146 | €4,168 | -€1,978 | -32.2% |
| Trade debts | 44 | €380,294 | €458,019 | +€77,725 | +20.4% |
| Suppliers | 440/4 | €380,294 | €458,019 | +€77,725 | +20.4% |
| Taxes, remuneration and social security | 45 | €250,089 | €256,154 | +€6,065 | +2.4% |
| Taxes | 450/3 | €250,089 | €256,154 | +€6,065 | +2.4% |
| Other amounts payable | 47/48 | €2,075 | - | -€2,075 | |
| Accrued charges and deferred income | 492/3 | €808,231 | €808,231 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €410,343 | €409,453 | -€891 | -0.2% |
| Other operating charges | 640/8 | €22,094 | €7,719 | -€14,375 | -65.1% |
| Gross operating margin | 9900 | €906,595 | -€17,258 | -€923,852 | |
| Operating profit (loss) | 9901 | €474,157 | -€434,429 | -€908,586 | |
| Financial income | 75/76B | €33,212 | €38,511 | +€5,299 | +16.0% |
| Recurring financial income | 75 | €33,212 | €38,511 | +€5,299 | +16.0% |
| Financial charges | 65/66B | €2,992 | €1,995 | -€997 | -33.3% |
| Recurring financial charges | 65 | €2,992 | €1,995 | -€997 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €504,378 | -€397,912 | -€902,290 | |
| Income taxes | 67/77 | €250,075 | €10,479 | -€239,596 | -95.8% |
| Profit (loss) for the period | 9904 | €254,302 | -€408,391 | -€662,694 | |
| Profit (loss) for the period to be appropriated | 9905 | €254,302 | -€408,391 | -€662,694 |
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 30 October 2026 via checked.be.