Musicoding Services
ActiveSummary
Musicoding Services has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €32k and a net result of €25k. Equity is shrinking by ~8.7% per year across the filed fiscal years. Its solvency ranks better than 28% of 17090 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
78
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability99▲+23
Solvency56▲+9
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity short (current ratio 0.99 against 0.66 in 2024; short-term debt: 29.4% and cash: 14.1% of total assets), and 69.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Sector 62
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
30.6%
Return on assets
24%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €32k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-04-2026, 120 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
120 d early
2024
on the day
2023
31 d late
2022
14 d early
2021
16 d early
2020
37 d early
2019
22 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€32k▲ 46.2%
2024 · €22k
2018: €32k
2019: €62k
2020: €69k
2021: €25k
2022: €29k
2023: €16k
2024: €22k
2018 → 2025
Total assets
€104k▲ 5.2%
2024 · €99k
2018: €67k
2019: €99k
2020: €99k
2021: €44k
2022: €40k
2023: €52k
2024: €99k
2018 → 2025
Net result
€25k▲ 328%
2024 · €6k
2018: €19k
2019: €25k
2020: €6k
2021: €24k
2022: €28k
2023: €15k
2024: €6k
2018 → 2025
Working capital
€-314▲ 95.5%
2024 · €-7k
2018: €22k
2019: €55k
2020: €64k
2021: €21k
2022: €29k
2023: €15k
2024: €-7k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€25k-€29k▲ 14.4%€16k▼ 44.9%€22k▲ 36.6%€32k▲ 46.2%
Operating result€32k-€37k▲ 13.7%€20k▼ 46.5%€11k▼ 45.5%€37k▲ 244%
Net result€24k-€28k▲ 15.0%€15k▼ 46.5%€6k▼ 60.9%€25k▲ 328%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 244% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €104k
Fixed assets
€74k ▼ 13.5%
Current assets
€30k ▲ 123%
Equity and liabilities €104k
Equity
€32k ▲ 46.2%
Debt
€72k ▼ 6.3%
Debt's share of the balance-sheet total falls from 78.0% to 69.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€56k▲
2024 · €20k
Cash flow
€44k▲
2024 · €15k
Current ratio
0.99▲
2024 · 0.66
Debt to equity
2.27▼
2024 · 3.54
ROE
78.5%▲
2024 · 26.8%
ROA
24.0%▲
2024 · 5.9%
Interest coverage
11.16▲
2024 · 8.71
Debt ≤ 1 year
€31k▲
2024 · €21k
Debt > 1 year
€42k▼
2024 · €57k
Income taxes
€7k▲
2024 · €3k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€99k€104k▲
Fixed assets21/28€85k€74k▼
Tangible fixed assets22/27€85k€74k▼
Plant, machinery and equipment23€1k€979▼
Furniture and vehicles24€84k€67k▼
Other tangible fixed assets26-€6k
Current assets29/58€14k€30k▲
Amounts receivable within one year40/41€12k€16k▲
Trade receivables40€5k€12k▲
Other amounts receivable41€6k€4k▼
Cash at bank and in hand54/58€1k€15k▲
Deferred charges and accrued income490/1€381-
Equity and liabilities
Total equity and liabilities10/49€99k€104k▲
Equity10/15€22k€32k▲
Contributions10/11€1k€1k=
Profit (loss) carried forward14€21k€31k▲
Amounts payable17/49€77k€72k▼
Amounts payable after more than one year17€57k€42k▼
Financial debts170/4€57k€42k▼
Amounts payable within one year42/48€21k€31k▲
Current portion of amounts payable after more than one year42€14k€15k▲
Trade debts44€2k€1k▼
Suppliers440/4€2k€1k▼
Taxes, remuneration and social security45-€5k
Taxes450/3-€5k
Other amounts payable47/48€5k€9k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€19k▲
Other operating charges640/8€700€965▲
Gross operating margin9900€20k€57k▲
Operating profit (loss)9901€11k€37k▲
Financial charges65/66B€2k€5k▲
Recurring financial charges65€2k€5k▲
Profit (loss) for the period before taxes9903€8k€32k▲
Income taxes67/77€3k€7k▲
Profit (loss) for the period9904€6k€25k▲
Profit (loss) for the period to be appropriated9905€6k€25k▲
Appropriation of the result
Profit (loss) to be appropriated9906€21k€46k▲
Profit (loss) brought forward from the previous period14P€15k€21k▲
Profit to be distributed694/7-€15k
Return on contributions (dividend)694-€15k
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €6k ▼60.9%
Net result drops to €6k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €28k ▲15%
Net result €28k, the highest in the series.
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Bonheiden · 1 establishment unit since 2018
Ground area
2,057 m²
Building footprint
185 m²
Volume, LiDAR
824 m³
Parcel 12031B0780/00A000, Flanders · tallest building 6.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
MUSICODING SERVICES
since 20182.271.424.353
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12031B0780/00A000 | Flanders | 2,057 m² | 1 · 185 m² | 6.3 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 3,211 companies in sector 62900 we hold annual accounts for 1,742. 1,254 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-12-2017
Fiscal year end31-12
Abbreviation NL
MCS-BL
Activities, NACEBEL 2025
62900Other information technology and computer services
43211General electrical installation work
43212Electrical installation work in industrial facilities
46431Wholesale of electrical household appliances and audio-video equipment
47690Retail sale of other cultural and recreation goods
59201Sound recording
59209Motion picture, video and television programme production, sound recording and music publishing activities
62100Computer programming
62200Computer consultancy and computer facilities management
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:ben.leers@gmail.com
Phone:0485475102