MUSICOM: 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.
MUSICOM
Largest movements
- Current investments +€1.4m
new in 2025: €1.4m
- Cash -€1.3m
down €1.3m (-89.4%), from €1.5m to €158,388
mainly Current investments (-€1.4m) and Contributions, distributions and other (-€105,790)
- Reserves +€81,910
up €81,910 (+6.7%), from €1.2m to €1.3m
- Tax, wage and social debts +€61,309
up €61,309 (+60.6%), from €101,177 to €162,486
- Trade debts -€26,650
down €26,650 (-96.7%), from €27,566 to €915
- Gross operating margin -€230,102
down €230,102 (-43.5%), from €529,206 to €299,104
- Taxes -€74,683
down €74,683 (-46.4%), from €160,896 to €86,213
- Financial charges -€12,003
down €12,003 (-73.0%), from €16,438 to €4,435
- Other operating charges +€8,536
up €8,536 (+882%), from €968 to €9,503
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 | €1,707,547 | €1,822,828 | +€115,281 | +6.8% |
| Fixed assets | 21/28 | €32,321 | €19,106 | -€13,215 | -40.9% |
| Tangible fixed assets | 22/27 | €32,321 | €19,106 | -€13,215 | -40.9% |
| Land and buildings | 22 | €9,116 | €7,929 | -€1,188 | -13.0% |
| Plant, machinery and equipment | 23 | €13,370 | €8,174 | -€5,196 | -38.9% |
| Furniture and vehicles | 24 | €9,835 | €3,004 | -€6,831 | -69.5% |
| Current assets | 29/58 | €1,675,226 | €1,803,722 | +€128,496 | +7.7% |
| Amounts receivable within one year | 40/41 | €178,229 | €192,583 | +€14,354 | +8.1% |
| Trade receivables | 40 | €137,598 | €158,361 | +€20,763 | +15.1% |
| Other amounts receivable | 41 | €40,630 | €34,222 | -€6,408 | -15.8% |
| Current investments | 50/53 | - | €1,449,402 | +€1.4m | |
| Cash at bank and in hand | 54/58 | €1,493,944 | €158,388 | -€1.3m | -89.4% |
| Deferred charges and accrued income | 490/1 | €3,053 | €3,349 | +€296 | +9.7% |
| Total equity and liabilities | 10/49 | €1,707,547 | €1,822,828 | +€115,281 | +6.8% |
| Equity | 10/15 | €1,356,401 | €1,438,368 | +€81,967 | +6.0% |
| Contributions | 10/11 | €128,458 | €128,458 | = | 0.0% |
| Reserves | 13 | €1,214,790 | €1,296,700 | +€81,910 | +6.7% |
| Non-distributable reserves | 130/1 | €1,214,790 | €1,296,700 | +€81,910 | +6.7% |
| Other | 1319 | €1,214,790 | €1,296,700 | +€81,910 | +6.7% |
| Profit (loss) carried forward | 14 | €13,152 | €13,209 | +€57 | +0.4% |
| Amounts payable | 17/49 | €351,146 | €384,461 | +€33,314 | +9.5% |
| Amounts payable within one year | 42/48 | €349,290 | €384,461 | +€35,171 | +10.1% |
| Financial debts | 43 | - | €1,744 | +€1,744 | |
| Credit institutions | 430/8 | - | €1,744 | +€1,744 | |
| Trade debts | 44 | €27,566 | €915 | -€26,650 | -96.7% |
| Suppliers | 440/4 | €27,566 | €915 | -€26,650 | -96.7% |
| Taxes, remuneration and social security | 45 | €101,177 | €162,486 | +€61,309 | +60.6% |
| Taxes | 450/3 | €101,177 | €162,486 | +€61,309 | +60.6% |
| Other amounts payable | 47/48 | €220,547 | €219,315 | -€1,232 | -0.6% |
| Accrued charges and deferred income | 492/3 | €1,856 | - | -€1,856 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,295 | €17,545 | +€1,249 | +7.7% |
| Other operating charges | 640/8 | €968 | €9,503 | +€8,536 | +882% |
| Gross operating margin | 9900 | €529,206 | €299,104 | -€230,102 | -43.5% |
| Operating profit (loss) | 9901 | €511,944 | €272,056 | -€239,887 | -46.9% |
| Financial income | 75/76B | €5,546 | €6,349 | +€802 | +14.5% |
| Recurring financial income | 75 | €5,546 | €6,349 | +€802 | +14.5% |
| Financial charges | 65/66B | €16,438 | €4,435 | -€12,003 | -73.0% |
| Recurring financial charges | 65 | €16,438 | €4,435 | -€12,003 | -73.0% |
| Profit (loss) for the period before taxes | 9903 | €501,052 | €273,970 | -€227,082 | -45.3% |
| Income taxes | 67/77 | €160,896 | €86,213 | -€74,683 | -46.4% |
| Profit (loss) for the period | 9904 | €340,156 | €187,757 | -€152,399 | -44.8% |
| Profit (loss) for the period to be appropriated | 9905 | €340,156 | €187,757 | -€152,399 | -44.8% |
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 26 October 2026 via checked.be.