House Muse: 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.
House Muse
Largest movements
- Tangible fixed assets +€154,326
up €154,326 (+25.9%), from €595,920 to €750,246
- Stocks and contracts +€90,490
up €90,490 (+18.1%), from €498,655 to €589,145
- Cash -€27,339
down €27,339 (-100%), from €27,339 to €0
mainly Investment in fixed assets (net) (-€172,780) and Stocks and contracts (-€90,490)
- Other debts +€215,172
up €215,172 (+59.9%), from €359,145 to €574,318
- Debts after one year +€84,441
up €84,441 (+34.9%), from €241,883 to €326,324
- Profit (loss) carried forward -€57,689
down €57,689 (-67.0%), from -€86,051 to -€143,740
- Trade debts -€30,075
down €30,075 (-85.5%), from €35,195 to €5,120
- Financial charges +€17,386
up €17,386 (+77.2%), from €22,526 to €39,912
- Depreciation +€16,492
up €16,492 (+841%), from €1,962 to €18,454
- Gross operating margin +€10,488
up €10,488, from -€7,124 to €3,364
- Other operating charges +€2,087
up €2,087 (+279%), from €747 to €2,833
- Financial income +€147
new in 2025: €147
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 | €1,137,724 | €1,354,391 | +€216,667 | +19.0% |
| Fixed assets | 21/28 | €595,920 | €750,246 | +€154,326 | +25.9% |
| Tangible fixed assets | 22/27 | €595,920 | €750,246 | +€154,326 | +25.9% |
| Land and buildings | 22 | €595,920 | €750,246 | +€154,326 | +25.9% |
| Current assets | 29/58 | €541,804 | €604,145 | +€62,341 | +11.5% |
| Stocks and contracts in progress | 3 | €498,655 | €589,145 | +€90,490 | +18.1% |
| Stocks | 30/36 | €498,655 | €589,145 | +€90,490 | +18.1% |
| Amounts receivable within one year | 40/41 | €15,810 | €15,000 | -€810 | -5.1% |
| Trade receivables | 40 | €15,000 | €15,000 | = | 0.0% |
| Other amounts receivable | 41 | €810 | €0 | -€810 | -100% |
| Cash at bank and in hand | 54/58 | €27,339 | €0 | -€27,339 | -100% |
| Total equity and liabilities | 10/49 | €1,137,724 | €1,354,391 | +€216,667 | +19.0% |
| Equity | 10/15 | €97,549 | €39,860 | -€57,689 | -59.1% |
| Contributions | 10/11 | €183,600 | €183,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,051 | -€143,740 | -€57,689 | -67.0% |
| Amounts payable | 17/49 | €1,040,175 | €1,314,531 | +€274,356 | +26.4% |
| Amounts payable after more than one year | 17 | €241,883 | €326,324 | +€84,441 | +34.9% |
| Financial debts | 170/4 | €241,883 | €326,324 | +€84,441 | +34.9% |
| Amounts payable within one year | 42/48 | €798,292 | €988,207 | +€189,915 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €399,833 | €404,559 | +€4,726 | +1.2% |
| Financial debts | 43 | - | €4,211 | +€4,211 | |
| Credit institutions | 430/8 | - | €4,211 | +€4,211 | |
| Trade debts | 44 | €35,195 | €5,120 | -€30,075 | -85.5% |
| Suppliers | 440/4 | €35,195 | €5,120 | -€30,075 | -85.5% |
| Taxes, remuneration and social security | 45 | €4,119 | €0 | -€4,119 | -100% |
| Taxes | 450/3 | €4,119 | €0 | -€4,119 | -100% |
| Other amounts payable | 47/48 | €359,145 | €574,318 | +€215,172 | +59.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,962 | €18,454 | +€16,492 | +841% |
| Other operating charges | 640/8 | €747 | €2,833 | +€2,087 | +279% |
| Gross operating margin | 9900 | -€7,124 | €3,364 | +€10,488 | |
| Operating profit (loss) | 9901 | -€9,833 | -€17,923 | -€8,091 | -82.3% |
| Financial income | 75/76B | - | €147 | +€147 | |
| Recurring financial income | 75 | - | €147 | +€147 | |
| Financial charges | 65/66B | €22,526 | €39,912 | +€17,386 | +77.2% |
| Recurring financial charges | 65 | €22,526 | €39,912 | +€17,386 | +77.2% |
| Profit (loss) for the period before taxes | 9903 | -€32,359 | -€57,689 | -€25,330 | -78.3% |
| Profit (loss) for the period | 9904 | -€32,359 | -€57,689 | -€25,330 | -78.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,359 | -€57,689 | -€25,330 | -78.3% |
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 14 October 2026 via checked.be.