EURO-MUSIQUE: 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.
EURO-MUSIQUE
Largest movements
- Tangible fixed assets -€366,755
down €366,755 (-21.6%), from €1.7m to €1.3m
of which Plant, machinery and equipment: -€325,596
- Receivables within one year -€98,699
down €98,699 (-16.0%), from €618,718 to €520,019
of which Trade receivables: -€127,326
- Cash -€67,651
down €67,651 (-100.0%), from €67,651 to €0
mainly Trade debts (-€466,680) and Net result for the year (-€153,457)
- Trade debts -€466,680
down €466,680 (-61.5%), from €758,925 to €292,245
- Reserves -€150,000
down €150,000 (-23.6%), from €635,000 to €485,000
- Short-term financial debts +€89,635
up €89,635 (+1,379%), from €6,500 to €96,135
- Current portion of long-term debt +€33,635
up €33,635 (+12.9%), from €259,980 to €293,615
- Debts after one year -€27,199
down €27,199 (-4.1%), from €660,041 to €632,842
- Gross operating margin -€321,851
down €321,851 (-36.1%), from €892,232 to €570,382
- Depreciation +€98,000
up €98,000 (+24.5%), from €399,306 to €497,306
- Taxes -€56,066
down €56,066 (-99.4%), from €56,424 to €358
- Financial charges +€28,804
up €28,804 (+59.2%), from €48,635 to €77,439
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 | €2,397,337 | €1,887,743 | -€509,594 | -21.3% |
| Fixed assets | 21/28 | €1,702,776 | €1,336,021 | -€366,755 | -21.5% |
| Tangible fixed assets | 22/27 | €1,699,641 | €1,332,886 | -€366,755 | -21.6% |
| Plant, machinery and equipment | 23 | €1,597,216 | €1,271,620 | -€325,596 | -20.4% |
| Furniture and vehicles | 24 | €41,713 | €18,059 | -€23,655 | -56.7% |
| Leasing and similar rights | 25 | €53,744 | €33,151 | -€20,593 | -38.3% |
| Other tangible fixed assets | 26 | €6,968 | €10,056 | +€3,089 | +44.3% |
| Financial fixed assets | 28 | €3,135 | €3,135 | = | 0.0% |
| Current assets | 29/58 | €694,561 | €551,722 | -€142,839 | -20.6% |
| Amounts receivable within one year | 40/41 | €618,718 | €520,019 | -€98,699 | -16.0% |
| Trade receivables | 40 | €560,863 | €433,537 | -€127,326 | -22.7% |
| Other amounts receivable | 41 | €57,855 | €86,482 | +€28,627 | +49.5% |
| Cash at bank and in hand | 54/58 | €67,651 | €0 | -€67,651 | -100.0% |
| Deferred charges and accrued income | 490/1 | €8,192 | €31,703 | +€23,511 | +287% |
| Total equity and liabilities | 10/49 | €2,397,337 | €1,887,743 | -€509,594 | -21.3% |
| Equity | 10/15 | €671,519 | €518,063 | -€153,457 | -22.9% |
| Contributions | 10/11 | €27,268 | €27,268 | = | 0.0% |
| Reserves | 13 | €635,000 | €485,000 | -€150,000 | -23.6% |
| Distributable reserves | 133 | €635,000 | €485,000 | -€150,000 | -23.6% |
| Profit (loss) carried forward | 14 | €9,251 | €5,794 | -€3,457 | -37.4% |
| Amounts payable | 17/49 | €1,725,818 | €1,369,680 | -€356,137 | -20.6% |
| Amounts payable after more than one year | 17 | €660,041 | €632,842 | -€27,199 | -4.1% |
| Financial debts | 170/4 | €660,041 | €632,842 | -€27,199 | -4.1% |
| Amounts payable within one year | 42/48 | €1,065,776 | €736,641 | -€329,136 | -30.9% |
| Current portion of amounts payable after more than one year | 42 | €259,980 | €293,615 | +€33,635 | +12.9% |
| Financial debts | 43 | €6,500 | €96,135 | +€89,635 | +1,379% |
| Credit institutions | 430/8 | €6,500 | €96,135 | +€89,635 | +1,379% |
| Trade debts | 44 | €758,925 | €292,245 | -€466,680 | -61.5% |
| Suppliers | 440/4 | €758,925 | €292,245 | -€466,680 | -61.5% |
| Taxes, remuneration and social security | 45 | €25,984 | €49,283 | +€23,299 | +89.7% |
| Taxes | 450/3 | €17,368 | €28,781 | +€11,412 | +65.7% |
| Remuneration and social security | 454/9 | €8,616 | €20,502 | +€11,886 | +138% |
| Other amounts payable | 47/48 | €14,388 | €5,364 | -€9,024 | -62.7% |
| Accrued charges and deferred income | 492/3 | - | €197 | +€197 | |
| Non-recurring operating income | 76A | €3,159 | €65,739 | +€62,580 | +1,981% |
| Remuneration, social security and pensions | 62 | €126,741 | €127,116 | +€375 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €399,306 | €497,306 | +€98,000 | +24.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,762 | €0 | -€1,762 | -100% |
| Other operating charges | 640/8 | €14,523 | €10,299 | -€4,223 | -29.1% |
| Non-recurring operating charges | 66A | €174 | €11,331 | +€11,158 | +6,430% |
| Gross operating margin | 9900 | €892,232 | €570,382 | -€321,851 | -36.1% |
| Operating profit (loss) | 9901 | €349,727 | -€75,671 | -€425,398 | |
| Financial income | 75/76B | €588 | €10 | -€578 | -98.2% |
| Recurring financial income | 75 | €588 | €10 | -€578 | -98.2% |
| Financial charges | 65/66B | €48,635 | €77,439 | +€28,804 | +59.2% |
| Recurring financial charges | 65 | €48,635 | €77,439 | +€28,804 | +59.2% |
| Profit (loss) for the period before taxes | 9903 | €301,680 | -€153,099 | -€454,779 | |
| Income taxes | 67/77 | €56,424 | €358 | -€56,066 | -99.4% |
| Profit (loss) for the period | 9904 | €245,256 | -€153,457 | -€398,713 | |
| Profit (loss) for the period to be appropriated | 9905 | €245,256 | -€153,457 | -€398,713 |
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 26 October 2026 via checked.be.