GMD 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.
GMD MUSIC
Largest movements
- Cash -€137,617
down €137,617 (-39.3%), from €350,316 to €212,699
mainly Contributions, distributions and other (-€355,000) and Tax, wage and social debts (-€57,405)
- Tangible fixed assets -€4,720
down €4,720 (-35.2%), from €13,398 to €8,678
of which Furniture and vehicles: -€4,044
- Profit (loss) carried forward -€174,704
down €174,704 (-65.6%), from €266,464 to €91,760
- Other debts +€87,000
up €87,000 (+461%), from €18,866 to €105,866
- Tax, wage and social debts -€57,405
down €57,405 (-75.2%), from €76,383 to €18,978
- Gross operating margin -€4,170
down €4,170 (-1.7%), from €251,023 to €246,853
- Financial income -€2,742
no longer reported in 2025 (was €2,742)
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 | €363,714 | €222,951 | -€140,762 | -38.7% |
| Fixed assets | 21/28 | €13,398 | €8,678 | -€4,720 | -35.2% |
| Tangible fixed assets | 22/27 | €13,398 | €8,678 | -€4,720 | -35.2% |
| Plant, machinery and equipment | 23 | €2,740 | €2,063 | -€676 | -24.7% |
| Furniture and vehicles | 24 | €10,658 | €6,615 | -€4,044 | -37.9% |
| Current assets | 29/58 | €350,316 | €214,273 | -€136,043 | -38.8% |
| Cash at bank and in hand | 54/58 | €350,316 | €212,699 | -€137,617 | -39.3% |
| Deferred charges and accrued income | 490/1 | - | €1,574 | +€1,574 | |
| Total equity and liabilities | 10/49 | €363,714 | €222,951 | -€140,762 | -38.7% |
| Equity | 10/15 | €268,464 | €93,760 | -€174,704 | -65.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €266,464 | €91,760 | -€174,704 | -65.6% |
| Amounts payable | 17/49 | €95,250 | €129,192 | +€33,942 | +35.6% |
| Amounts payable within one year | 42/48 | €95,250 | €129,192 | +€33,942 | +35.6% |
| Financial debts | 43 | - | €1,322 | +€1,322 | |
| Credit institutions | 430/8 | - | €1,322 | +€1,322 | |
| Trade debts | 44 | €0 | €3,025 | +€3,025 | +3,360,822% |
| Suppliers | 440/4 | €0 | €3,025 | +€3,025 | +3,360,822% |
| Taxes, remuneration and social security | 45 | €76,383 | €18,978 | -€57,405 | -75.2% |
| Taxes | 450/3 | €76,383 | €18,978 | -€57,405 | -75.2% |
| Other amounts payable | 47/48 | €18,866 | €105,866 | +€87,000 | +461% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,733 | €6,165 | +€433 | +7.5% |
| Other operating charges | 640/8 | €2,147 | €1,744 | -€403 | -18.8% |
| Gross operating margin | 9900 | €251,023 | €246,853 | -€4,170 | -1.7% |
| Operating profit (loss) | 9901 | €243,144 | €238,944 | -€4,200 | -1.7% |
| Financial income | 75/76B | €2,742 | - | -€2,742 | |
| Recurring financial income | 75 | €2,742 | - | -€2,742 | |
| Financial charges | 65/66B | €2,054 | €2,878 | +€823 | +40.1% |
| Recurring financial charges | 65 | €2,054 | €2,878 | +€823 | +40.1% |
| Profit (loss) for the period before taxes | 9903 | €243,832 | €236,066 | -€7,766 | -3.2% |
| Income taxes | 67/77 | €56,824 | €55,770 | -€1,053 | -1.9% |
| Profit (loss) for the period | 9904 | €187,008 | €180,296 | -€6,712 | -3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €187,008 | €180,296 | -€6,712 | -3.6% |
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 23 October 2026 via checked.be.