MUSE STUDIO: 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.
MUSE STUDIO
Largest movements
- Tangible fixed assets -€2,440
down €2,440 (-71.6%), from €3,408 to €968
- Cash +€550
up €550 (+58.5%), from €940 to €1,490
mainly Depreciation (+€2,440) and Net result for the year (+€417)
- Receivables within one year -€219
down €219 (-2.1%), from €10,274 to €10,055
- Tax, wage and social debts -€1,743
no longer reported in 2025 (was €1,743)
- Current portion of long-term debt -€686
down €686 (-34.3%), from €2,000 to €1,314
- Profit (loss) carried forward +€417
up €417 (+2.1%), from -€20,265 to -€19,848
- Other debts -€241
down €241 (-1.8%), from €13,460 to €13,219
- Gross operating margin +€1,760
up €1,760 (+154%), from €1,145 to €2,905
- Other operating charges -€384
no longer reported in 2025 (was €384)
- Financial charges -€118
down €118 (-71.1%), from €166 to €48
- Depreciation +€61
up €61 (+2.6%), from €2,379 to €2,440
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 | €17,400 | €15,291 | -€2,109 | -12.1% |
| Fixed assets | 21/28 | €6,186 | €3,746 | -€2,440 | -39.4% |
| Tangible fixed assets | 22/27 | €3,408 | €968 | -€2,440 | -71.6% |
| Furniture and vehicles | 24 | €3,408 | €968 | -€2,440 | -71.6% |
| Financial fixed assets | 28 | €2,778 | €2,778 | = | 0.0% |
| Current assets | 29/58 | €11,214 | €11,545 | +€331 | +3.0% |
| Amounts receivable within one year | 40/41 | €10,274 | €10,055 | -€219 | -2.1% |
| Trade receivables | 40 | €10,274 | €10,055 | -€219 | -2.1% |
| Cash at bank and in hand | 54/58 | €940 | €1,490 | +€550 | +58.5% |
| Total equity and liabilities | 10/49 | €17,400 | €15,291 | -€2,109 | -12.1% |
| Equity | 10/15 | €195 | €612 | +€417 | +214% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,265 | -€19,848 | +€417 | +2.1% |
| Amounts payable | 17/49 | €17,205 | €14,679 | -€2,526 | -14.7% |
| Amounts payable within one year | 42/48 | €17,205 | €14,679 | -€2,526 | -14.7% |
| Current portion of amounts payable after more than one year | 42 | €2,000 | €1,314 | -€686 | -34.3% |
| Trade debts | 44 | €2 | €146 | +€144 | +7,200% |
| Suppliers | 440/4 | €2 | €146 | +€144 | +7,200% |
| Taxes, remuneration and social security | 45 | €1,743 | - | -€1,743 | |
| Taxes | 450/3 | €1,743 | - | -€1,743 | |
| Other amounts payable | 47/48 | €13,460 | €13,219 | -€241 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,379 | €2,440 | +€61 | +2.6% |
| Other operating charges | 640/8 | €384 | - | -€384 | |
| Gross operating margin | 9900 | €1,145 | €2,905 | +€1,760 | +154% |
| Operating profit (loss) | 9901 | -€1,618 | €465 | +€2,083 | |
| Financial charges | 65/66B | €166 | €48 | -€118 | -71.1% |
| Recurring financial charges | 65 | €166 | €48 | -€118 | -71.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,784 | €417 | +€2,201 | |
| Profit (loss) for the period | 9904 | -€1,784 | €417 | +€2,201 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,784 | €417 | +€2,201 |
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 13 October 2026 via checked.be.