RAMDASH
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-03-2026 PDF all 10 filings
Turnover
≈ €170,000
Estimated: probably between €110,000 and €220,000
Total assets
€538,284▲ 4.3%
2024 · €516,316
Net result
€75,478▲ 34.1%
2024 · €56,276
Working capital
-€155,568▼ 12.9%
2024 · -€137,768
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€77,713
▼ 2.9%
2025
20192025
Net result
€75,478
▲ 34.1%
2025
highest quarter of the sector
20192025
Equity
€229,802
▲ 6.9%
2025
middle half of the sector
20192025
Total assets
€538,284
▲ 4.3%
2025
middle half of the sector
20192025
Debt
€308,483
▲ 2.4%
2025
20192025
Working capital
-€155,568
▼ 12.9%
2025
lowest quarter of the sector
20192025
Solvency
42.7%
▲ 1.1pp
2025
middle half of the sector
20192025
Current ratio
0.40
▲ 0.03
2025
middle half of the sector
20192025
Return on assets (ROA)
14.0%
▲ 3.1pp
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.1m-€0.1m▼ 4.3%€0.2m▲ 42.4%€0.1m▼ 32.2%€0.04m▼ 60.8%€0.08m▲ 84.2%€0.08m▼ 2.9%
Net result€0.07m-€0.07mabove the sector's middle half▲ 12.9%€0.1mabove the sector's middle half▲ 34.7%-€0.2mbelow the sector's middle half€0.04mabove the sector's middle half€0.06mabove the sector's middle half▲ 46.3%€0.08mabove the sector's middle half▲ 34.1%
Equity€0.3m-€0.3mwithin the sector's middle half▲ 14.6%€0.4mabove the sector's middle half▲ 32.2%€0.1mwithin the sector's middle half▼ 63.8%€0.2mwithin the sector's middle half▲ 5.8%€0.2mwithin the sector's middle half▲ 35.5%€0.2mwithin the sector's middle half▲ 6.9%
Total assets€1.0m-€0.8mwithin the sector's middle half▼ 18.9%€0.8mwithin the sector's middle half▼ 3.3%€0.5mwithin the sector's middle half▼ 35.5%€0.5mwithin the sector's middle half▼ 5.3%€0.5mwithin the sector's middle half▲ 7.2%€0.5mwithin the sector's middle half▲ 4.3%
Debt€0.7m-€0.5m▼ 31.4%€0.4m▼ 25.4%€0.4m▼ 4.1%€0.3m▼ 9.9%€0.3m▼ 6.7%€0.3m▲ 2.4%
Working capital-€0.2m--€0.2mbelow the sector's middle half▼ 13.1%-€0.2mbelow the sector's middle half▲ 7.3%-€0.1mbelow the sector's middle half▲ 9.2%-€0.2mbelow the sector's middle half▼ 13.6%-€0.1mbelow the sector's middle half▲ 16.9%-€0.2mbelow the sector's middle half▼ 12.9%
Solvency27.2%-38.5%within the sector's middle half▲ 11.2pp52.6%within the sector's middle half▲ 14.1pp29.5%within the sector's middle half▼ 23.1pp32.9%within the sector's middle half▲ 3.4pp41.6%within the sector's middle half▲ 8.7pp42.7%within the sector's middle half▲ 1.1pp
Current ratio0.59-0.20below the sector's middle half▼ 0.390.15below the sector's middle half▼ 0.050.30below the sector's middle half▲ 0.150.20below the sector's middle half▼ 0.100.37within the sector's middle half▲ 0.170.40within the sector's middle half▲ 0.03
Return on assets (ROA)6.6%-9.2%above the sector's middle half▲ 2.6pp12.8%above the sector's middle half▲ 3.6pp-48.5%below the sector's middle half▼ 61.3pp8.0%above the sector's middle half▲ 56.5pp10.9%above the sector's middle half▲ 2.9pp14.0%above the sector's middle half▲ 3.1pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 3% lower than in 2024.
Large changes and their cause
- 2022 Equity -64% on 2021. Merger absorbing GANESHA, Official Gazette 27-09-2022. Universality received from SPRINTOR, Official Gazette 27-09-2022.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €538,284
Fixed assets
€435,670 ▲ 0.1%
Current assets
€102,615 ▲ 26.4%
Equity and liabilities €538,284
Equity
€229,802 ▲ 6.9%
Debt
€308,483 ▲ 2.4%
Debt's share of the balance-sheet total falls from 58.4% to 57.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€78,186▼
2024 · €85,155
Cash flow
€75,951▲
2024 · €61,383
Debt to equity
1.34▼
2024 · 1.40
ROE
32.8%▲
2024 · 26.2%
Interest coverage
44.50▼
2024 · over 100
Debt ≤ 1 year
€258,183▲
2024 · €218,966
Debt > 1 year
€50,000▼
2024 · €81,801
Income taxes
€478▼
2024 · €24,706
Staff costs
€181
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €281,619 | - | - | €1,024 |
| Financial fixed assets | - | €250 | - | - | - |
| Depreciation and write-downs of the year | €10,606 | €16,554 | €5,472 | €5,107 | €473 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | - | - | €181 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,606 | €10,606 | €10,606 | €16,554 | €5,472 | €5,107 | €473 | ▼ 90.7% |
| Other operating charges640/8 | - | - | €619 | €15,427 | €1,451 | €1,749 | €1,355 | ▼ 22.5% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €2,000 | - |
| Gross operating margin9900 | €139,316 | €126,881 | €174,832 | €142,832 | €50,385 | €86,904 | €81,722 | ▼ 6.0% |
| Operating profit (loss)9901 | €120,021 | €114,920 | €163,606 | €110,852 | €43,462 | €80,048 | €77,713 | ▼ 2.9% |
| Financial income75/76B | - | - | - | - | €2 | €1,081 | - | - |
| Recurring financial income75 | €142 | - | - | - | €2 | €1,081 | - | - |
| Financial charges65/66B | - | - | €6,207 | €354,198 | €3,329 | €148 | €1,757 | ▲ 12× |
| Recurring financial charges65 | €14,369 | €11,300 | €6,207 | €354,198 | €3,329 | €148 | €1,757 | ▲ 12× |
| Profit (loss) for the period before taxes9903 | €105,794 | €103,619 | €157,399 | -€243,346 | €40,135 | €80,982 | €75,956 | ▼ 6.2% |
| Income taxes67/77 | €39,352 | €28,626 | €56,352 | €3,200 | €1,665 | €24,706 | €478 | ▼ 98.1% |
| Profit (loss) for the period9904 | €66,442 | €74,994 | €101,047 | -€246,546 | €38,469 | €56,276 | €75,478 | ▲ 34.1% |
| Profit (loss) for the period to be appropriated9905 | €66,442 | €74,994 | €101,047 | -€246,546 | €38,469 | €56,276 | €75,478 | ▲ 34.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.0m | €0.8m | €0.8m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 4.3% |
| Fixed assets21/28 | €0.8m | €0.8m | €0.8m | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 0.1% |
| Tangible fixed assets22/27 | €0.03m | €0.02m | €0.01m | €0.05m | €0.04m | €0.03m | €0.04m | ▲ 1.6% |
| Land and buildings22 | - | - | - | €0.04m | €0.04m | €0.03m | €0.03m | ▼ 0.1% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | €0.001m | €362 | €181 | ▼ 50.0% |
| Furniture and vehicles24 | - | - | €0.01m | €40 | - | - | €0.001m | - |
| Other tangible fixed assets26 | - | - | - | €424 | €170 | - | - | - |
| Financial fixed assets28 | €0.8m | €0.8m | €0.8m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Current assets29/58 | €0.2m | €0.04m | €0.03m | €0.06m | €0.04m | €0.08m | €0.1m | ▲ 26.4% |
| Amounts receivable within one year40/41 | €0.2m | €0.03m | €0.02m | €0.04m | €0.03m | €0.07m | - | - |
| Trade receivables40 | - | - | €0.01m | €0.04m | €0.002m | €0.002m | - | - |
| Other amounts receivable41 | - | - | €0.01m | €226 | €0.03m | €0.07m | - | - |
| Cash at bank and in hand54/58 | €0.003m | €0.009m | €0.004m | €0.02m | €0.005m | €0.01m | €0.1m | ▲ 801% |
| Deferred charges and accrued income490/1 | - | - | €0.001m | €0.002m | €0.003m | €0.002m | €0.002m | ▼ 3.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.0m | €0.8m | €0.8m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 4.3% |
| Equity10/15 | €0.3m | €0.3m | €0.4m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 6.9% |
| Contributions10/11 | €0.02m | €0.02m | €0.02m | €0.05m | €0.02m | €0.02m | €0.02m | ▲ 20.0% |
| Reserves13 | €0.07m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 1.8% |
| Non-distributable reserves130/1 | - | - | €0.002m | €0.004m | €0.004m | €0.004m | - | - |
| Reserves not available under the articles1311 | - | - | €0.002m | €0.004m | €0.004m | €0.004m | - | - |
| Distributable reserves133 | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | €0.2m | €0.2m | €0.2m | -€0.1m | -€0.07m | -€0.01m | - | - |
| Amounts payable17/49 | €0.7m | €0.5m | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | ▲ 2.4% |
| Amounts payable after more than one year17 | €0.4m | €0.3m | €0.2m | €0.1m | €0.1m | €0.08m | €0.05m | ▼ 38.9% |
| Financial debts170/4 | - | - | €0.2m | €0.1m | €0.1m | €0.08m | €0.05m | ▼ 38.9% |
| Amounts payable within one year42/48 | €0.4m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 17.9% |
| Current portion of amounts payable after more than one year42 | - | - | €0.1m | €0.04m | €0.04m | €0.03m | €0.03m | ▼ 6.8% |
| Trade debts44 | €0.2m | €0.08m | €0.06m | €0.06m | €0.03m | €40 | €0.001m | ▲ 32× |
| Suppliers440/4 | - | - | €0.06m | €0.06m | €0.03m | €40 | €0.001m | ▲ 32× |
| Taxes, remuneration and social security45 | - | - | €0.03m | €250 | - | €0.03m | €0.02m | ▼ 33.4% |
| Taxes450/3 | - | - | €0.03m | €250 | - | €0.03m | €0.02m | ▼ 33.4% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 30.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | - | €0.001m | €300 | ▼ 49.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €66,442 | €74,994 | €101,047 | -€246,546 | €38,469 | €56,276 | €75,478 | ▲ 34.1% |
| + Depreciation and write-downs630 | €10,606 | €10,606 | €10,606 | €16,554 | €5,472 | €5,107 | €473 | ▼ 90.7% |
| Operating cash flow (approximation) | €77,048 | €85,600 | €111,653 | -€229,993 | €43,941 | €61,383 | €75,951 | ▲ 23.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €298,381 | €0 | €0 | -€1,024 | - |
| Change in cash | - | €6,148 | -€5,035 | €14,530 | -€13,333 | €6,264 | €89,431 | ▲ 14× |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 30-03-2026 | 2026-00067368 | |
| 30-09-2024 | micro format | 18-04-2025 | 2025-00072142 | |
| 30-09-2023 | micro format | 22-04-2024 | 2024-00066882 | |
| 30-09-2022 | micro format | 16-05-2023 | 2023-00090704 | |
| 30-09-2021 | micro format | 17-05-2022 | 2022-20028746 | |
| 30-09-2020 | micro format | 14-05-2021 | 2021-14300145 | |
| 30-09-2019 | micro format | 02-04-2020 | 2020-08700571 | |
| 30-09-2018 | micro format | 17-05-2019 | 2019-13500068 | |
| 30-09-2017 | micro format | 16-05-2018 | 2018-12900593 | |
| 30-09-2016 | full format | 29-05-2017 | 2017-14200473 |