AC RAMA: 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.
AC RAMA
Largest movements
- Receivables within one year +€158,977
up €158,977 (+128%), from €123,794 to €282,771
of which Trade receivables: +€175,326
- Current investments -€100,643
down €100,643 (-99.5%), from €101,173 to €530
- Cash -€92,131
down €92,131 (-49.5%), from €186,099 to €93,967
mainly Receivables within one year (-€158,977) and Other debts (-€80,000)
- Deferred charges and accrued income -€6,675
down €6,675 (-87.5%), from €7,632 to €956
- Other debts -€80,000
down €80,000 (-53.3%), from €150,000 to €70,000
- Profit (loss) carried forward +€30,804
up €30,804 (+147%), from €20,930 to €51,734
- Trade debts +€9,725
up €9,725 (+11.0%), from €88,586 to €98,311
- Gross operating margin +€36,458
up €36,458 (+33.2%), from €109,804 to €146,262
- Staff costs +€28,538
up €28,538 (+37.3%), from €76,504 to €105,041
- Taxes +€1,871
up €1,871 (+21.3%), from €8,788 to €10,658
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 | €424,962 | €386,283 | -€38,679 | -9.1% |
| Fixed assets | 21/28 | €1,159 | €2,899 | +€1,740 | +150% |
| Tangible fixed assets | 22/27 | €0 | €225 | +€225 | |
| Plant, machinery and equipment | 23 | €0 | €225 | +€225 | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €1,159 | €2,674 | +€1,515 | +131% |
| Current assets | 29/58 | €423,804 | €383,385 | -€40,419 | -9.5% |
| Stocks and contracts in progress | 3 | €5,107 | €5,160 | +€53 | +1.0% |
| Stocks | 30/36 | €5,107 | €5,160 | +€53 | +1.0% |
| Amounts receivable within one year | 40/41 | €123,794 | €282,771 | +€158,977 | +128% |
| Trade receivables | 40 | €106,826 | €282,152 | +€175,326 | +164% |
| Other amounts receivable | 41 | €16,968 | €619 | -€16,349 | -96.4% |
| Current investments | 50/53 | €101,173 | €530 | -€100,643 | -99.5% |
| Cash at bank and in hand | 54/58 | €186,099 | €93,967 | -€92,131 | -49.5% |
| Deferred charges and accrued income | 490/1 | €7,632 | €956 | -€6,675 | -87.5% |
| Total equity and liabilities | 10/49 | €424,962 | €386,283 | -€38,679 | -9.1% |
| Equity | 10/15 | €179,943 | €210,747 | +€30,804 | +17.1% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €138,562 | €138,562 | = | 0.0% |
| Tax-exempt reserves | 132 | €362 | €362 | = | 0.0% |
| Distributable reserves | 133 | €138,200 | €138,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,930 | €51,734 | +€30,804 | +147% |
| Amounts payable | 17/49 | €245,020 | €175,536 | -€69,484 | -28.4% |
| Amounts payable within one year | 42/48 | €245,020 | €175,536 | -€69,484 | -28.4% |
| Trade debts | 44 | €88,586 | €98,311 | +€9,725 | +11.0% |
| Suppliers | 440/4 | €88,586 | €98,311 | +€9,725 | +11.0% |
| Taxes, remuneration and social security | 45 | €6,434 | €7,225 | +€791 | +12.3% |
| Taxes | 450/3 | €296 | €595 | +€299 | +101% |
| Remuneration and social security | 454/9 | €6,137 | €6,630 | +€492 | +8.0% |
| Other amounts payable | 47/48 | €150,000 | €70,000 | -€80,000 | -53.3% |
| Remuneration, social security and pensions | 62 | €76,504 | €105,041 | +€28,538 | +37.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €37 | +€37 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €109,804 | €146,262 | +€36,458 | +33.2% |
| Operating profit (loss) | 9901 | €32,914 | €40,784 | +€7,871 | +23.9% |
| Financial income | 75/76B | €1,768 | €1,477 | -€291 | -16.5% |
| Recurring financial income | 75 | €1,768 | €1,477 | -€291 | -16.5% |
| Financial charges | 65/66B | €608 | €798 | +€191 | +31.4% |
| Recurring financial charges | 65 | €608 | €798 | +€191 | +31.4% |
| Profit (loss) for the period before taxes | 9903 | €34,074 | €41,463 | +€7,389 | +21.7% |
| Income taxes | 67/77 | €8,788 | €10,658 | +€1,871 | +21.3% |
| Profit (loss) for the period | 9904 | €25,286 | €30,804 | +€5,518 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,286 | €30,804 | +€5,518 | +21.8% |
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 30 October 2026 via checked.be.