LA MUSE: what changed
Two fiscal 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.
LA MUSE
Largest movements
- Cash +€10,060
up €10,060 (+29.9%), from €33,594 to €43,654
mainly Net result for the year (+€27,178) and Depreciation (+€2,699)
- Deferred charges and accrued income +€8,174
up €8,174 (+104.8%), from €7,799 to €15,974
- Stocks and contracts +€2,580
new in 2025: €2,580
- Tangible fixed assets -€2,126
down €2,126 (-76.5%), from €2,781 to €655
of which Furniture and vehicles: -€2,516
- Receivables within one year -€966
down €966 (-13.8%), from €6,990 to €6,024
of which Other amounts receivable: -€1,179
- Profit (loss) carried forward +€26,345
up €26,345 (+57.5%), from -€45,827 to -€19,482
- Trade debts -€10,500
down €10,500 (-100.0%), from €10,500 to €0
- Tax, wage and social debts +€1,294
up €1,294 (+11.7%), from €11,031 to €12,324
of which Taxes: +€1,294
- Gross operating margin +€26,661
up €26,661 (+571.3%), from €4,667 to €31,328
- Depreciation -€3,105
down €3,105 (-53.5%), from €5,805 to €2,699
- Taxes +€438
up €438 (+216.0%), from €203 to €641
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.
Cash bridge derived
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 | €51,164 | €68,886 | +€17,721 | +34.6% |
| Fixed assets | 21/28 | €2,781 | €655 | -€2,126 | -76.5% |
| Tangible fixed assets | 22/27 | €2,781 | €655 | -€2,126 | -76.5% |
| Plant, machinery and equipment | 23 | €0 | €390 | +€390 | |
| Furniture and vehicles | 24 | €2,781 | €265 | -€2,516 | -90.5% |
| Current assets | 29/58 | €48,384 | €68,231 | +€19,847 | +41.0% |
| Stocks and contracts in progress | 3 | - | €2,580 | +€2,580 | |
| Stocks | 30/36 | - | €2,580 | +€2,580 | |
| Amounts receivable within one year | 40/41 | €6,990 | €6,024 | -€966 | -13.8% |
| Trade receivables | 40 | €2,727 | €2,939 | +€212 | +7.8% |
| Other amounts receivable | 41 | €4,264 | €3,085 | -€1,179 | -27.6% |
| Cash at bank and in hand | 54/58 | €33,594 | €43,654 | +€10,060 | +29.9% |
| Deferred charges and accrued income | 490/1 | €7,799 | €15,974 | +€8,174 | +104.8% |
| Total equity and liabilities | 10/49 | €51,164 | €68,886 | +€17,721 | +34.6% |
| Equity | 10/15 | €29,633 | €55,978 | +€26,345 | +88.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €56,860 | €56,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €55,000 | €55,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,827 | -€19,482 | +€26,345 | +57.5% |
| Amounts payable | 17/49 | €21,531 | €12,908 | -€8,624 | -40.1% |
| Amounts payable within one year | 42/48 | €21,531 | €12,908 | -€8,624 | -40.1% |
| Trade debts | 44 | €10,500 | €0 | -€10,500 | -100.0% |
| Suppliers | 440/4 | €10,500 | €0 | -€10,500 | -100.0% |
| Taxes, remuneration and social security | 45 | €11,031 | €12,324 | +€1,294 | +11.7% |
| Taxes | 450/3 | €8,531 | €9,824 | +€1,294 | +15.2% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | - | €583 | +€583 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,805 | €2,699 | -€3,105 | -53.5% |
| Other operating charges | 640/8 | €664 | €912 | +€248 | +37.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €4,667 | €31,328 | +€26,661 | +571.3% |
| Operating profit (loss) | 9901 | -€1,802 | €27,717 | +€29,519 | |
| Financial income | 75/76B | €280 | €232 | -€48 | -17.2% |
| Recurring financial income | 75 | €280 | €232 | -€48 | -17.2% |
| Financial charges | 65/66B | €340 | €130 | -€211 | -61.9% |
| Recurring financial charges | 65 | €340 | €130 | -€211 | -61.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,862 | €27,819 | +€29,681 | |
| Income taxes | 67/77 | €203 | €641 | +€438 | +216.0% |
| Profit (loss) for the period | 9904 | -€2,065 | €27,178 | +€29,243 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,065 | €27,178 | +€29,243 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.