MUSIC MAESTRO: what changed
MUSIC MAESTRO
Largest movements
- Tangible fixed assets -€8,515
down €8,515 (-14.1%), from €60,221 to €51,706
of which Land and buildings: -€8,308
- Cash +€2,745
up €2,745 (+4.9%), from €55,904 to €58,650
mainly Depreciation (+€8,515) and Trade debts (+€6,077)
- Trade debts +€6,077
up €6,077 (+169%), from €3,599 to €9,675
- Other debts -€3,621
down €3,621 (-39.0%), from €9,277 to €5,656
- Reserves -€3,404
down €3,404 (-1.9%), from €176,666 to €173,261
of which Distributable reserves: -€3,404
- Tax, wage and social debts -€3,035
down €3,035 (-48.0%), from €6,319 to €3,283
- Gross operating margin -€8,952
down €8,952 (-46.7%), from €19,180 to €10,228
- Financial income +€1,759
up €1,759 (+21.4%), from €8,229 to €9,988
- Financial charges +€1,285
up €1,285 (+16.6%), from €7,748 to €9,034
- Depreciation -€597
down €597 (-6.6%), from €9,112 to €8,515
- Write-downs +€400
up €400, from -€400 to €0
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €259,313 | €255,191 | -€4,122 | -1.6% |
| Fixed assets | 21/28 | €60,260 | €51,745 | -€8,515 | -14.1% |
| Tangible fixed assets | 22/27 | €60,221 | €51,706 | -€8,515 | -14.1% |
| Land and buildings | 22 | €60,015 | €51,706 | -€8,308 | -13.8% |
| Plant, machinery and equipment | 23 | €207 | €0 | -€207 | -100% |
| Financial fixed assets | 28 | €38 | €38 | = | 0.0% |
| Current assets | 29/58 | €199,054 | €203,446 | +€4,393 | +2.2% |
| Stocks and contracts in progress | 3 | €140,136 | €142,686 | +€2,549 | +1.8% |
| Stocks | 30/36 | €140,136 | €142,686 | +€2,549 | +1.8% |
| Amounts receivable within one year | 40/41 | €2,290 | €1,360 | -€930 | -40.6% |
| Trade receivables | 40 | €2,290 | €1,360 | -€930 | -40.6% |
| Cash at bank and in hand | 54/58 | €55,904 | €58,650 | +€2,745 | +4.9% |
| Deferred charges and accrued income | 490/1 | €723 | €751 | +€28 | +3.9% |
| Total equity and liabilities | 10/49 | €259,313 | €255,191 | -€4,122 | -1.6% |
| Equity | 10/15 | €238,666 | €235,261 | -€3,404 | -1.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €176,666 | €173,261 | -€3,404 | -1.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,000 | €14,000 | = | 0.0% |
| Distributable reserves | 133 | €156,466 | €153,061 | -€3,404 | -2.2% |
| Amounts payable | 17/49 | €20,647 | €19,929 | -€718 | -3.5% |
| Amounts payable within one year | 42/48 | €19,194 | €18,614 | -€580 | -3.0% |
| Trade debts | 44 | €3,599 | €9,675 | +€6,077 | +169% |
| Suppliers | 440/4 | €3,599 | €9,675 | +€6,077 | +169% |
| Taxes, remuneration and social security | 45 | €6,319 | €3,283 | -€3,035 | -48.0% |
| Taxes | 450/3 | €6,319 | €3,283 | -€3,035 | -48.0% |
| Other amounts payable | 47/48 | €9,277 | €5,656 | -€3,621 | -39.0% |
| Accrued charges and deferred income | 492/3 | €1,453 | €1,315 | -€138 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,112 | €8,515 | -€597 | -6.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€400 | €0 | +€400 | |
| Other operating charges | 640/8 | €5,576 | €5,811 | +€235 | +4.2% |
| Gross operating margin | 9900 | €19,180 | €10,228 | -€8,952 | -46.7% |
| Operating profit (loss) | 9901 | €4,892 | -€4,098 | -€8,990 | |
| Financial income | 75/76B | €8,229 | €9,988 | +€1,759 | +21.4% |
| Recurring financial income | 75 | €8,229 | €9,988 | +€1,759 | +21.4% |
| Financial charges | 65/66B | €7,748 | €9,034 | +€1,285 | +16.6% |
| Recurring financial charges | 65 | €7,748 | €9,034 | +€1,285 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | €5,373 | -€3,143 | -€8,517 | |
| Income taxes | 67/77 | €256 | €261 | +€5 | +2.1% |
| Profit (loss) for the period | 9904 | €5,118 | -€3,404 | -€8,522 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,118 | -€3,404 | -€8,522 |
Next steps
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.