Musson: 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.
Musson
Largest movements
- Tangible fixed assets +€25,482
up €25,482 (+1,297%), from €1,965 to €27,448
- Cash +€24,117
up €24,117 (+144%), from €16,701 to €40,818
mainly Net result for the year (+€25,636) and Other debts (+€14,380)
- Receivables within one year -€10,604
down €10,604 (-74.5%), from €14,228 to €3,624
of which Trade receivables: -€5,463
- Reserves +€25,636
up €25,636 (+133%), from €19,264 to €44,899
- Other debts +€14,380
new in 2025: €14,380
- Trade debts -€5,948
down €5,948 (-94.8%), from €6,276 to €328
- Tax, wage and social debts +€3,863
up €3,863 (+79.6%), from €4,854 to €8,717
- Accrued charges and deferred income +€1,065
new in 2025: €1,065
- Gross operating margin +€11,741
up €11,741 (+43.5%), from €27,013 to €38,755
- Depreciation +€3,323
up €3,323 (+9,576%), from €35 to €3,358
- Financial charges +€1,240
up €1,240 (+58.0%), from €2,140 to €3,380
- Taxes +€1,015
up €1,015 (+20.9%), from €4,854 to €5,870
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 | €32,894 | €71,890 | +€38,996 | +119% |
| Fixed assets | 21/28 | €1,965 | €27,448 | +€25,482 | +1,297% |
| Tangible fixed assets | 22/27 | €1,965 | €27,448 | +€25,482 | +1,297% |
| Plant, machinery and equipment | 23 | €1,965 | €27,448 | +€25,482 | +1,297% |
| Current assets | 29/58 | €30,929 | €44,442 | +€13,513 | +43.7% |
| Amounts receivable within one year | 40/41 | €14,228 | €3,624 | -€10,604 | -74.5% |
| Trade receivables | 40 | €9,087 | €3,624 | -€5,463 | -60.1% |
| Other amounts receivable | 41 | €5,141 | €0 | -€5,141 | -100% |
| Cash at bank and in hand | 54/58 | €16,701 | €40,818 | +€24,117 | +144% |
| Total equity and liabilities | 10/49 | €32,894 | €71,890 | +€38,996 | +119% |
| Equity | 10/15 | €21,764 | €47,399 | +€25,636 | +118% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €19,264 | €44,899 | +€25,636 | +133% |
| Distributable reserves | 133 | €19,264 | €44,899 | +€25,636 | +133% |
| Amounts payable | 17/49 | €11,130 | €24,490 | +€13,360 | +120% |
| Amounts payable within one year | 42/48 | €11,130 | €23,425 | +€12,295 | +110% |
| Trade debts | 44 | €6,276 | €328 | -€5,948 | -94.8% |
| Suppliers | 440/4 | €6,276 | €328 | -€5,948 | -94.8% |
| Taxes, remuneration and social security | 45 | €4,854 | €8,717 | +€3,863 | +79.6% |
| Taxes | 450/3 | €4,854 | €8,717 | +€3,863 | +79.6% |
| Other amounts payable | 47/48 | - | €14,380 | +€14,380 | |
| Accrued charges and deferred income | 492/3 | - | €1,065 | +€1,065 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35 | €3,358 | +€3,323 | +9,576% |
| Other operating charges | 640/8 | €735 | €512 | -€223 | -30.3% |
| Gross operating margin | 9900 | €27,013 | €38,755 | +€11,741 | +43.5% |
| Operating profit (loss) | 9901 | €26,243 | €34,885 | +€8,641 | +32.9% |
| Financial income | 75/76B | €15 | €0 | -€14 | -97.5% |
| Recurring financial income | 75 | €15 | €0 | -€14 | -97.5% |
| Financial charges | 65/66B | €2,140 | €3,380 | +€1,240 | +58.0% |
| Recurring financial charges | 65 | €2,140 | €3,380 | +€1,240 | +58.0% |
| Profit (loss) for the period before taxes | 9903 | €24,118 | €31,505 | +€7,387 | +30.6% |
| Income taxes | 67/77 | €4,854 | €5,870 | +€1,015 | +20.9% |
| Profit (loss) for the period | 9904 | €19,264 | €25,636 | +€6,372 | +33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,264 | €25,636 | +€6,372 | +33.1% |
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 13 October 2026 via checked.be.