MUSIC HOTEL: what changed
What changed
MUSIC HOTEL
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
-€28,281
2024 · -€1,050-€27,231
Equity
€90,142
2024 · €118,423-€28,281
Cash
€41
2024 · €17,048-€17,007
Balance sheet total
€2.6m
2024 · €2.7m-€121,473
Largest movements
Assets
- Current investments -€101,794
no longer reported in 2025 (was €101,794)
Equity and liabilities
- Debts after one year -€201,869
down €201,869 (-11.0%), from €1.8m to €1.6m
- Other debts +€114,900
up €114,900 (+23.6%), from €487,081 to €601,981
- Profit (loss) carried forward -€28,281
down €28,281 (-10.0%), from -€281,577 to -€309,858
Income statement
- Gross operating margin -€28,923
down €28,923 (-13.9%), from €207,652 to €178,729
- Financial charges -€6,330
down €6,330 (-11.1%), from €56,829 to €50,499
- Depreciation +€2,925
up €2,925 (+2.1%), from €139,740 to €142,664
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€1,050
Gross operating margin
-€28,923
Depreciation
-€2,925
Other operating charges
+€289
Financial income
-€2,002
Financial charges
+€6,330
Result 2025
-€28,281
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€220,138
Investment
-€50,033
Financing
-€187,112
Cash 2024
€17,048
From operations (derived)
+€220,138
Net result for the year
-€28,281
Depreciation
+€142,664
Receivables within one year
+€11,834
Trade debts
-€20,416
Tax, wage and social debts
-€564
Other debts
+€114,900
Investment (derived)
-€50,033
Investment in fixed assets (net)
-€151,826
Current investments
+€101,794
Financing
-€187,112
Debts after one year
-€201,869
Current portion of long-term debt
+€814
Short-term financial debts
+€13,942
Cash 2025
€41
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,690,323 | €2,568,850 | -€121,473 | -4.5% |
| Fixed assets | 21/28 | €2,555,207 | €2,564,369 | +€9,162 | +0.4% |
| Tangible fixed assets | 22/27 | €2,555,207 | €2,564,369 | +€9,162 | +0.4% |
| Land and buildings | 22 | €2,554,296 | €2,558,223 | +€3,928 | +0.2% |
| Plant, machinery and equipment | 23 | €912 | €6,146 | +€5,234 | +574% |
| Current assets | 29/58 | €135,116 | €4,481 | -€130,635 | -96.7% |
| Amounts receivable within one year | 40/41 | €16,274 | €4,441 | -€11,834 | -72.7% |
| Trade receivables | 40 | €16,260 | €4,439 | -€11,821 | -72.7% |
| Other amounts receivable | 41 | €14 | €2 | -€13 | -88.9% |
| Current investments | 50/53 | €101,794 | - | -€101,794 | |
| Cash at bank and in hand | 54/58 | €17,048 | €41 | -€17,007 | -99.8% |
| Total equity and liabilities | 10/49 | €2,690,323 | €2,568,850 | -€121,473 | -4.5% |
| Equity | 10/15 | €118,423 | €90,142 | -€28,281 | -23.9% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€281,577 | -€309,858 | -€28,281 | -10.0% |
| Amounts payable | 17/49 | €2,571,900 | €2,478,708 | -€93,192 | -3.6% |
| Amounts payable after more than one year | 17 | €1,829,504 | €1,627,636 | -€201,869 | -11.0% |
| Financial debts | 170/4 | €1,829,504 | €1,627,636 | -€201,869 | -11.0% |
| Amounts payable within one year | 42/48 | €742,396 | €851,072 | +€108,677 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €201,054 | €201,869 | +€814 | +0.4% |
| Financial debts | 43 | - | €13,942 | +€13,942 | |
| Credit institutions | 430/8 | - | €13,942 | +€13,942 | |
| Trade debts | 44 | €51,549 | €31,134 | -€20,416 | -39.6% |
| Suppliers | 440/4 | €51,549 | €31,134 | -€20,416 | -39.6% |
| Taxes, remuneration and social security | 45 | €2,710 | €2,147 | -€564 | -20.8% |
| Taxes | 450/3 | €2,710 | €2,147 | -€564 | -20.8% |
| Other amounts payable | 47/48 | €487,081 | €601,981 | +€114,900 | +23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,740 | €142,664 | +€2,925 | +2.1% |
| Other operating charges | 640/8 | €14,459 | €14,170 | -€289 | -2.0% |
| Gross operating margin | 9900 | €207,652 | €178,729 | -€28,923 | -13.9% |
| Operating profit (loss) | 9901 | €53,453 | €21,895 | -€31,559 | -59.0% |
| Financial income | 75/76B | €2,326 | €324 | -€2,002 | -86.1% |
| Recurring financial income | 75 | €2,326 | €324 | -€2,002 | -86.1% |
| Financial charges | 65/66B | €56,829 | €50,499 | -€6,330 | -11.1% |
| Recurring financial charges | 65 | €56,829 | €50,499 | -€6,330 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,050 | -€28,281 | -€27,231 | -2,593% |
| Profit (loss) for the period | 9904 | -€1,050 | -€28,281 | -€27,231 | -2,593% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,050 | -€28,281 | -€27,231 | -2,593% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.