MUSITS: 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.
MUSITS
Largest movements
- Cash +€14,476
up €14,476 (+30.2%), from €47,998 to €62,474
mainly Depreciation (+€36,829) and Net result for the year (+€31,091)
- Tangible fixed assets +€13,796
up €13,796 (+3.4%), from €404,915 to €418,710
of which Land and buildings: +€19,932
- Trade debts -€23,737
down €23,737 (-91.4%), from €25,968 to €2,231
- Debts after one year +€14,438
up €14,438 (+11.6%), from €124,655 to €139,093
- Other debts +€13,765
up €13,765 (+110%), from €12,561 to €26,325
- Tax, wage and social debts +€9,605
up €9,605 (+86.3%), from €11,135 to €20,740
of which Taxes: +€8,098
- Reserves +€7,177
up €7,177 (+2.5%), from €284,674 to €291,851
- Gross operating margin +€8,898
up €8,898 (+11.9%), from €74,699 to €83,597
- Depreciation +€4,332
up €4,332 (+13.3%), from €32,497 to €36,829
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 | €484,457 | €515,482 | +€31,026 | +6.4% |
| Fixed assets | 21/28 | €404,915 | €418,710 | +€13,796 | +3.4% |
| Tangible fixed assets | 22/27 | €404,915 | €418,710 | +€13,796 | +3.4% |
| Land and buildings | 22 | €363,211 | €383,143 | +€19,932 | +5.5% |
| Plant, machinery and equipment | 23 | €7,698 | €10,512 | +€2,814 | +36.6% |
| Furniture and vehicles | 24 | €34,006 | €25,055 | -€8,951 | -26.3% |
| Current assets | 29/58 | €79,542 | €96,772 | +€17,230 | +21.7% |
| Stocks and contracts in progress | 3 | €126 | €404 | +€278 | +221% |
| Stocks | 30/36 | €126 | €404 | +€278 | +221% |
| Amounts receivable within one year | 40/41 | €19,314 | €21,307 | +€1,993 | +10.3% |
| Trade receivables | 40 | €19,314 | €21,307 | +€1,993 | +10.3% |
| Cash at bank and in hand | 54/58 | €47,998 | €62,474 | +€14,476 | +30.2% |
| Deferred charges and accrued income | 490/1 | €12,104 | €12,587 | +€483 | +4.0% |
| Total equity and liabilities | 10/49 | €484,457 | €515,482 | +€31,026 | +6.4% |
| Equity | 10/15 | €290,874 | €298,051 | +€7,177 | +2.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €284,674 | €291,851 | +€7,177 | +2.5% |
| Distributable reserves | 133 | €284,674 | €291,851 | +€7,177 | +2.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €193,583 | €217,431 | +€23,848 | +12.3% |
| Amounts payable after more than one year | 17 | €124,655 | €139,093 | +€14,438 | +11.6% |
| Financial debts | 170/4 | €124,655 | €139,093 | +€14,438 | +11.6% |
| Amounts payable within one year | 42/48 | €66,232 | €72,002 | +€5,770 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €16,567 | €22,705 | +€6,138 | +37.0% |
| Trade debts | 44 | €25,968 | €2,231 | -€23,737 | -91.4% |
| Suppliers | 440/4 | €25,968 | €2,231 | -€23,737 | -91.4% |
| Taxes, remuneration and social security | 45 | €11,135 | €20,740 | +€9,605 | +86.3% |
| Taxes | 450/3 | €8,102 | €16,201 | +€8,098 | +100.0% |
| Remuneration and social security | 454/9 | €3,033 | €4,539 | +€1,506 | +49.7% |
| Other amounts payable | 47/48 | €12,561 | €26,325 | +€13,765 | +110% |
| Accrued charges and deferred income | 492/3 | €2,696 | €6,337 | +€3,641 | +135% |
| Non-recurring operating income | 76A | €0 | €2,066 | +€2,066 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,497 | €36,829 | +€4,332 | +13.3% |
| Other operating charges | 640/8 | €1,590 | €1,976 | +€386 | +24.3% |
| Gross operating margin | 9900 | €74,699 | €83,597 | +€8,898 | +11.9% |
| Operating profit (loss) | 9901 | €40,612 | €44,792 | +€4,180 | +10.3% |
| Financial income | 75/76B | €56 | €111 | +€55 | +99.4% |
| Recurring financial income | 75 | €56 | €111 | +€55 | +99.4% |
| Financial charges | 65/66B | €3,043 | €3,470 | +€427 | +14.0% |
| Recurring financial charges | 65 | €3,043 | €3,470 | +€427 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | €37,625 | €41,433 | +€3,808 | +10.1% |
| Income taxes | 67/77 | €10,828 | €10,342 | -€486 | -4.5% |
| Profit (loss) for the period | 9904 | €26,797 | €31,091 | +€4,295 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,797 | €31,091 | +€4,295 | +16.0% |
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 19 October 2026 via checked.be.