MUSICMAKER: 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.
MUSICMAKER
Largest movements
- Receivables within one year -€7,020
down €7,020 (-36.2%), from €19,408 to €12,388
of which Other amounts receivable: -€4,741
- Current investments +€827
new in 2025: €827
- Tangible fixed assets -€720
down €720 (-25.5%), from €2,825 to €2,105
of which Land and buildings: -€493
- Profit (loss) carried forward -€7,628
down €7,628 (-11.3%), from -€67,515 to -€75,143
- Trade debts +€1,047
up €1,047 (+123.2%), from €850 to €1,897
- Current portion of long-term debt -€333
no longer reported in 2025 (was €333)
- Gross operating margin -€18,471
down €18,471, from €16,209 to -€2,262
- Financial charges +€2,813
up €2,813 (+450.3%), from €625 to €3,438
- Other operating charges +€422
up €422 (+52.8%), from €800 to €1,222
- Taxes -€282
no longer reported in 2025 (was €282)
- Depreciation -€204
down €204 (-22.0%), from €927 to €723
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,307 | €15,394 | -€6,914 | -31.0% |
| Fixed assets | 21/28 | €2,899 | €2,179 | -€720 | -24.8% |
| Tangible fixed assets | 22/27 | €2,825 | €2,105 | -€720 | -25.5% |
| Land and buildings | 22 | €2,219 | €1,726 | -€493 | -22.2% |
| Furniture and vehicles | 24 | €606 | €378 | -€227 | -37.5% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €19,408 | €13,215 | -€6,193 | -31.9% |
| Amounts receivable within one year | 40/41 | €19,408 | €12,388 | -€7,020 | -36.2% |
| Trade receivables | 40 | €2,968 | €689 | -€2,279 | -76.8% |
| Other amounts receivable | 41 | €16,440 | €11,699 | -€4,741 | -28.8% |
| Current investments | 50/53 | - | €827 | +€827 | |
| Total equity and liabilities | 10/49 | €22,307 | €15,394 | -€6,914 | -31.0% |
| Equity | 10/15 | €16,464 | €8,836 | -€7,628 | -46.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Uncalled capital | 101 | €12,392 | €12,392 | = | 0.0% |
| Reserves | 13 | €77,779 | €77,779 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,003 | €6,003 | = | 0.0% |
| Distributable reserves | 133 | €69,917 | €69,917 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,515 | -€75,143 | -€7,628 | -11.3% |
| Amounts payable | 17/49 | €5,843 | €6,557 | +€714 | +12.2% |
| Amounts payable within one year | 42/48 | €5,843 | €6,557 | +€714 | +12.2% |
| Current portion of amounts payable after more than one year | 42 | €333 | - | -€333 | |
| Financial debts | 43 | €4,660 | €4,660 | = | 0.0% |
| Credit institutions | 430/8 | €4,660 | €4,660 | = | 0.0% |
| Trade debts | 44 | €850 | €1,897 | +€1,047 | +123.2% |
| Suppliers | 440/4 | €850 | €1,897 | +€1,047 | +123.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €927 | €723 | -€204 | -22.0% |
| Other operating charges | 640/8 | €800 | €1,222 | +€422 | +52.8% |
| Non-recurring operating charges | 66A | €14,756 | - | -€14,756 | |
| Gross operating margin | 9900 | €16,209 | -€2,262 | -€18,471 | |
| Operating profit (loss) | 9901 | -€273 | -€4,208 | -€3,934 | -1439.1% |
| Financial income | 75/76B | €0 | €18 | +€17 | +15863.6% |
| Recurring financial income | 75 | €0 | €18 | +€17 | +15863.6% |
| Financial charges | 65/66B | €625 | €3,438 | +€2,813 | +450.3% |
| Recurring financial charges | 65 | €625 | €3,438 | +€2,813 | +450.3% |
| Profit (loss) for the period before taxes | 9903 | -€898 | -€7,628 | -€6,730 | -749.5% |
| Income taxes | 67/77 | €282 | - | -€282 | |
| Profit (loss) for the period | 9904 | -€1,180 | -€7,628 | -€6,448 | -546.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,180 | -€7,628 | -€6,448 | -546.6% |
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 4 October 2026 via checked.be.