ALLAN RAMIAH: 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.
ALLAN RAMIAH
Largest movements
- Receivables within one year +€134,075
up €134,075 (+187.4%), from €71,528 to €205,603
of which Trade receivables: +€124,736
- Tangible fixed assets -€14,642
down €14,642 (-32.3%), from €45,363 to €30,721
of which Furniture and vehicles: -€12,886
- Deferred charges and accrued income -€5,144
down €5,144 (-51.7%), from €9,942 to €4,798
- Other debts +€127,307
up €127,307 (+84.2%), from €151,157 to €278,463
- Debts after one year -€48,125
down €48,125 (-42.7%), from €112,626 to €64,501
- Tax, wage and social debts +€44,915
up €44,915 (+138.4%), from €32,464 to €77,379
- Trade debts -€9,206
down €9,206 (-53.5%), from €17,210 to €8,005
- Gross operating margin +€169,568
up €169,568 (+79.9%), from €212,209 to €381,777
- Taxes +€42,798
up €42,798 (+92.0%), from €46,509 to €89,307
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.
Cash bridge derived
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 | €383,131 | €496,699 | +€113,568 | +29.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €45,363 | €30,721 | -€14,642 | -32.3% |
| Tangible fixed assets | 22/27 | €45,363 | €30,721 | -€14,642 | -32.3% |
| Furniture and vehicles | 24 | €33,094 | €20,208 | -€12,886 | -38.9% |
| Other tangible fixed assets | 26 | €12,269 | €10,513 | -€1,755 | -14.3% |
| Current assets | 29/58 | €337,768 | €465,978 | +€128,210 | +38.0% |
| Amounts receivable after more than one year | 29 | €190,000 | €190,000 | = | 0.0% |
| Other amounts receivable | 291 | €190,000 | €190,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €71,528 | €205,603 | +€134,075 | +187.4% |
| Trade receivables | 40 | €62,606 | €187,342 | +€124,736 | +199.2% |
| Other amounts receivable | 41 | €8,923 | €18,261 | +€9,338 | +104.7% |
| Cash at bank and in hand | 54/58 | €66,298 | €65,577 | -€721 | -1.1% |
| Deferred charges and accrued income | 490/1 | €9,942 | €4,798 | -€5,144 | -51.7% |
| Total equity and liabilities | 10/49 | €383,131 | €496,699 | +€113,568 | +29.6% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €364,531 | €478,099 | +€113,568 | +31.2% |
| Amounts payable after more than one year | 17 | €112,626 | €64,501 | -€48,125 | -42.7% |
| Financial debts | 170/4 | €112,626 | €64,501 | -€48,125 | -42.7% |
| Amounts payable within one year | 42/48 | €251,905 | €413,598 | +€161,693 | +64.2% |
| Current portion of amounts payable after more than one year | 42 | €49,941 | €48,125 | -€1,816 | -3.6% |
| Financial debts | 43 | €1,133 | €1,625 | +€493 | +43.5% |
| Credit institutions | 430/8 | €1,133 | €1,625 | +€493 | +43.5% |
| Trade debts | 44 | €17,210 | €8,005 | -€9,206 | -53.5% |
| Suppliers | 440/4 | €17,210 | €8,005 | -€9,206 | -53.5% |
| Taxes, remuneration and social security | 45 | €32,464 | €77,379 | +€44,915 | +138.4% |
| Taxes | 450/3 | €32,464 | €77,379 | +€44,915 | +138.4% |
| Other amounts payable | 47/48 | €151,157 | €278,463 | +€127,307 | +84.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,164 | €14,642 | +€477 | +3.4% |
| Other operating charges | 640/8 | €507 | €522 | +€15 | +3.0% |
| Non-recurring operating charges | 66A | €255 | €606 | +€351 | +137.4% |
| Gross operating margin | 9900 | €212,209 | €381,777 | +€169,568 | +79.9% |
| Operating profit (loss) | 9901 | €197,282 | €366,008 | +€168,725 | +85.5% |
| Financial income | 75/76B | €6,736 | €7,043 | +€306 | +4.5% |
| Recurring financial income | 75 | €6,736 | €7,043 | +€306 | +4.5% |
| Financial charges | 65/66B | €6,353 | €5,280 | -€1,073 | -16.9% |
| Recurring financial charges | 65 | €6,353 | €5,280 | -€1,073 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €197,666 | €367,770 | +€170,104 | +86.1% |
| Income taxes | 67/77 | €46,509 | €89,307 | +€42,798 | +92.0% |
| Profit (loss) for the period | 9904 | €151,157 | €278,463 | +€127,307 | +84.2% |
| Profit (loss) for the period to be appropriated | 9905 | €151,157 | €278,463 | +€127,307 | +84.2% |
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 11 October 2026 via checked.be.