MUZIEKLO: what changed
MUZIEKLO
Largest movements
- Receivables within one year +€7,282
up €7,282 (+5.6%), from €129,677 to €136,960
of which Trade receivables: +€7,398
- Tangible fixed assets -€2,430
down €2,430 (-19.3%), from €12,618 to €10,188
of which Other tangible fixed assets: -€2,658
- Intangible fixed assets -€2,400
down €2,400 (-20.0%), from €11,993 to €9,593
- Reserves +€30,000
up €30,000 (+10,000%), from €300 to €30,300
of which Distributable reserves: +€30,000
- Debts after one year -€24,181
down €24,181 (-91.6%), from €26,390 to €2,209
of which Advances received on contracts in progress: -€20,995
- Trade debts -€14,672
down €14,672 (-49.8%), from €29,478 to €14,806
- Tax, wage and social debts +€11,269
up €11,269 (+57.8%), from €19,495 to €30,765
- Other debts -€3,710
down €3,710 (-22.3%), from €16,632 to €12,922
- Gross operating margin +€32,448
up €32,448 (+141%), from €22,957 to €55,405
- Taxes +€13,519
up €13,519 (+10,020%), from €135 to €13,654
- Financial charges -€920
down €920 (-64.2%), from €1,433 to €513
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €158,246 | €159,480 | +€1,233 | +0.8% |
| Fixed assets | 21/28 | €24,611 | €19,781 | -€4,830 | -19.6% |
| Intangible fixed assets | 21 | €11,993 | €9,593 | -€2,400 | -20.0% |
| Tangible fixed assets | 22/27 | €12,618 | €10,188 | -€2,430 | -19.3% |
| Land and buildings | 22 | €1,032 | €821 | -€210 | -20.4% |
| Plant, machinery and equipment | 23 | €259 | €1,154 | +€896 | +346% |
| Furniture and vehicles | 24 | €1,309 | €851 | -€457 | -34.9% |
| Other tangible fixed assets | 26 | €10,019 | €7,361 | -€2,658 | -26.5% |
| Current assets | 29/58 | €133,635 | €139,698 | +€6,063 | +4.5% |
| Amounts receivable within one year | 40/41 | €129,677 | €136,960 | +€7,282 | +5.6% |
| Trade receivables | 40 | €77,522 | €84,921 | +€7,398 | +9.5% |
| Other amounts receivable | 41 | €52,155 | €52,039 | -€116 | -0.2% |
| Cash at bank and in hand | 54/58 | €3,958 | €2,739 | -€1,219 | -30.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €158,246 | €159,480 | +€1,233 | +0.8% |
| Equity | 10/15 | €62,929 | €95,592 | +€32,663 | +51.9% |
| Contributions | 10/11 | €51,100 | €51,100 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €32,500 | €32,500 | = | 0.0% |
| Other | 1109/19 | €32,500 | €32,500 | = | 0.0% |
| Reserves | 13 | €300 | €30,300 | +€30,000 | +10,000% |
| Non-distributable reserves | 130/1 | €300 | €300 | = | 0.0% |
| Legal reserve | 130 | €300 | €300 | = | 0.0% |
| Distributable reserves | 133 | - | €30,000 | +€30,000 | |
| Profit (loss) carried forward | 14 | €11,529 | €14,192 | +€2,663 | +23.1% |
| Amounts payable | 17/49 | €95,317 | €63,888 | -€31,429 | -33.0% |
| Amounts payable after more than one year | 17 | €26,390 | €2,209 | -€24,181 | -91.6% |
| Financial debts | 170/4 | €5,395 | €2,209 | -€3,186 | -59.1% |
| Advances received on contracts in progress | 176 | €20,995 | €0 | -€20,995 | -100% |
| Amounts payable within one year | 42/48 | €68,927 | €61,679 | -€7,248 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €3,322 | €3,186 | -€135 | -4.1% |
| Trade debts | 44 | €29,478 | €14,806 | -€14,672 | -49.8% |
| Suppliers | 440/4 | €29,478 | €14,806 | -€14,672 | -49.8% |
| Taxes, remuneration and social security | 45 | €19,495 | €30,765 | +€11,269 | +57.8% |
| Taxes | 450/3 | €19,495 | €30,765 | +€11,269 | +57.8% |
| Other amounts payable | 47/48 | €16,632 | €12,922 | -€3,710 | -22.3% |
| Remuneration, social security and pensions | 62 | €0 | €28 | +€28 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,567 | €7,296 | -€271 | -3.6% |
| Other operating charges | 640/8 | €1,486 | €1,251 | -€236 | -15.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €22,957 | €55,405 | +€32,448 | +141% |
| Operating profit (loss) | 9901 | €13,903 | €46,830 | +€32,927 | +237% |
| Financial charges | 65/66B | €1,433 | €513 | -€920 | -64.2% |
| Recurring financial charges | 65 | €1,433 | €513 | -€920 | -64.2% |
| Profit (loss) for the period before taxes | 9903 | €12,471 | €46,317 | +€33,846 | +271% |
| Income taxes | 67/77 | €135 | €13,654 | +€13,519 | +10,020% |
| Profit (loss) for the period | 9904 | €12,336 | €32,663 | +€20,327 | +165% |
| Profit (loss) for the period to be appropriated | 9905 | €12,336 | €32,663 | +€20,327 | +165% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.