MusiCoLe: 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.
MusiCoLe
Largest movements
- Cash -€18,611
down €18,611 (-60.6%), from €30,725 to €12,114
mainly Other debts (-€29,191) and Investment in fixed assets (net) (-€22,274)
- Tangible fixed assets +€6,570
up €6,570 (+6.2%), from €105,182 to €111,751
of which Plant, machinery and equipment: +€18,924
- Other debts -€29,191
down €29,191 (-49.5%), from €59,004 to €29,814
- Reserves +€23,459
up €23,459 (+49.1%), from €47,760 to €71,219
- Debts after one year -€8,079
down €8,079 (-34.8%), from €23,193 to €15,115
- Trade debts +€5,686
up €5,686 (+233%), from €2,436 to €8,123
- Tax, wage and social debts -€4,344
down €4,344 (-39.8%), from €10,907 to €6,563
- Taxes -€1,449
down €1,449 (-18.1%), from €8,012 to €6,563
- Gross operating margin -€690
down €690 (-1.4%), from €48,360 to €47,670
- Depreciation +€498
up €498 (+3.3%), from €15,207 to €15,705
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 | €151,098 | €139,012 | -€12,086 | -8.0% |
| Fixed assets | 21/28 | €105,182 | €111,751 | +€6,570 | +6.2% |
| Tangible fixed assets | 22/27 | €105,182 | €111,751 | +€6,570 | +6.2% |
| Land and buildings | 22 | €64,655 | €60,337 | -€4,318 | -6.7% |
| Plant, machinery and equipment | 23 | €10,859 | €29,783 | +€18,924 | +174% |
| Furniture and vehicles | 24 | €29,668 | €21,632 | -€8,036 | -27.1% |
| Current assets | 29/58 | €45,916 | €27,260 | -€18,656 | -40.6% |
| Amounts receivable within one year | 40/41 | €15,191 | €14,643 | -€548 | -3.6% |
| Trade receivables | 40 | €10,641 | €10,378 | -€263 | -2.5% |
| Other amounts receivable | 41 | €4,550 | €4,265 | -€285 | -6.3% |
| Cash at bank and in hand | 54/58 | €30,725 | €12,114 | -€18,611 | -60.6% |
| Deferred charges and accrued income | 490/1 | - | €504 | +€504 | |
| Total equity and liabilities | 10/49 | €151,098 | €139,012 | -€12,086 | -8.0% |
| Equity | 10/15 | €47,860 | €71,319 | +€23,459 | +49.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €47,760 | €71,219 | +€23,459 | +49.1% |
| Distributable reserves | 133 | €47,760 | €71,219 | +€23,459 | +49.1% |
| Amounts payable | 17/49 | €103,238 | €67,693 | -€35,545 | -34.4% |
| Amounts payable after more than one year | 17 | €23,193 | €15,115 | -€8,079 | -34.8% |
| Financial debts | 170/4 | €23,193 | €15,115 | -€8,079 | -34.8% |
| Amounts payable within one year | 42/48 | €80,044 | €52,578 | -€27,466 | -34.3% |
| Current portion of amounts payable after more than one year | 42 | €7,696 | €8,079 | +€382 | +5.0% |
| Trade debts | 44 | €2,436 | €8,123 | +€5,686 | +233% |
| Suppliers | 440/4 | €2,436 | €8,123 | +€5,686 | +233% |
| Taxes, remuneration and social security | 45 | €10,907 | €6,563 | -€4,344 | -39.8% |
| Taxes | 450/3 | €10,907 | €6,563 | -€4,344 | -39.8% |
| Other amounts payable | 47/48 | €59,004 | €29,814 | -€29,191 | -49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,207 | €15,705 | +€498 | +3.3% |
| Other operating charges | 640/8 | €1,190 | €918 | -€273 | -22.9% |
| Gross operating margin | 9900 | €48,360 | €47,670 | -€690 | -1.4% |
| Operating profit (loss) | 9901 | €31,963 | €31,047 | -€916 | -2.9% |
| Financial income | 75/76B | €10 | €462 | +€451 | +4,302% |
| Recurring financial income | 75 | €10 | €462 | +€451 | +4,302% |
| Financial charges | 65/66B | €1,784 | €1,487 | -€297 | -16.6% |
| Recurring financial charges | 65 | €1,784 | €1,487 | -€297 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €30,190 | €30,022 | -€168 | -0.6% |
| Income taxes | 67/77 | €8,012 | €6,563 | -€1,449 | -18.1% |
| Profit (loss) for the period | 9904 | €22,178 | €23,459 | +€1,281 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,178 | €23,459 | +€1,281 | +5.8% |
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 28 October 2026 via checked.be.