ETS RAMAUT: 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.
ETS RAMAUT
Largest movements
- Receivables within one year -€674,233
down €674,233 (-86.9%), from €775,875 to €101,642
of which Other amounts receivable: -€678,841
- Cash +€532,575
up €532,575 (+287.9%), from €185,000 to €717,575
mainly Receivables within one year (+€674,233) and Net result for the year (+€263,426)
- Profit (loss) carried forward -€236,574
down €236,574 (-47.7%), from €495,697 to €259,123
- Other debts +€100,000
up €100,000 (+25.0%), from €400,000 to €500,000
- Financial income -€638,819
down €638,819 (-99.8%), from €639,931 to €1,112
- Gross operating margin +€270,343
up €270,343 (+248.5%), from €108,808 to €379,151
- Taxes +€74,871
up €74,871 (+362.3%), from €20,666 to €95,537
- Depreciation +€6,867
up €6,867 (+56.2%), from €12,209 to €19,076
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 | €2,286,337 | €2,144,695 | -€141,642 | -6.2% |
| Fixed assets | 21/28 | €1,321,840 | €1,321,802 | -€38 | 0.0% |
| Tangible fixed assets | 22/27 | €53,531 | €53,856 | +€325 | +0.6% |
| Furniture and vehicles | 24 | €53,531 | €53,856 | +€325 | +0.6% |
| Financial fixed assets | 28 | €1,268,309 | €1,267,946 | -€363 | 0.0% |
| Current assets | 29/58 | €964,497 | €822,893 | -€141,604 | -14.7% |
| Amounts receivable within one year | 40/41 | €775,875 | €101,642 | -€674,233 | -86.9% |
| Trade receivables | 40 | €46,263 | €50,872 | +€4,608 | +10.0% |
| Other amounts receivable | 41 | €729,612 | €50,770 | -€678,841 | -93.0% |
| Cash at bank and in hand | 54/58 | €185,000 | €717,575 | +€532,575 | +287.9% |
| Deferred charges and accrued income | 490/1 | €3,622 | €3,676 | +€54 | +1.5% |
| Total equity and liabilities | 10/49 | €2,286,337 | €2,144,695 | -€141,642 | -6.2% |
| Equity | 10/15 | €1,828,597 | €1,592,023 | -€236,574 | -12.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €976,440 | €976,440 | = | 0.0% |
| Reserves | 13 | €294,460 | €294,460 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,680 | €33,680 | = | 0.0% |
| Distributable reserves | 133 | €254,580 | €254,580 | = | 0.0% |
| Profit (loss) carried forward | 14 | €495,697 | €259,123 | -€236,574 | -47.7% |
| Amounts payable | 17/49 | €457,741 | €552,672 | +€94,932 | +20.7% |
| Amounts payable after more than one year | 17 | €52,649 | €52,649 | = | 0.0% |
| Other amounts payable | 178/9 | €52,649 | €52,649 | = | 0.0% |
| Amounts payable within one year | 42/48 | €405,091 | €500,023 | +€94,932 | +23.4% |
| Trade debts | 44 | €5,091 | - | -€5,091 | |
| Suppliers | 440/4 | €5,091 | - | -€5,091 | |
| Taxes, remuneration and social security | 45 | - | €23 | +€23 | |
| Taxes | 450/3 | - | €23 | +€23 | |
| Other amounts payable | 47/48 | €400,000 | €500,000 | +€100,000 | +25.0% |
| Non-recurring operating income | 76A | - | €201 | +€201 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,209 | €19,076 | +€6,867 | +56.2% |
| Other operating charges | 640/8 | €3,500 | €1,057 | -€2,444 | -69.8% |
| Gross operating margin | 9900 | €108,808 | €379,151 | +€270,343 | +248.5% |
| Operating profit (loss) | 9901 | €93,098 | €359,018 | +€265,920 | +285.6% |
| Financial income | 75/76B | €639,931 | €1,112 | -€638,819 | -99.8% |
| Recurring financial income | 75 | €639,931 | €1,112 | -€638,819 | -99.8% |
| Financial charges | 65/66B | €1,517 | €1,167 | -€351 | -23.1% |
| Recurring financial charges | 65 | €1,517 | €1,167 | -€351 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €731,512 | €358,963 | -€372,549 | -50.9% |
| Income taxes | 67/77 | €20,666 | €95,537 | +€74,871 | +362.3% |
| Profit (loss) for the period | 9904 | €710,846 | €263,426 | -€447,420 | -62.9% |
| Transfer from tax-exempt reserves | 789 | €33,680 | - | -€33,680 | |
| Transfer to tax-exempt reserves | 689 | €33,680 | - | -€33,680 | |
| Profit (loss) for the period to be appropriated | 9905 | €710,846 | €263,426 | -€447,420 | -62.9% |
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 10 October 2026 via checked.be.