R.A.M.: 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.
R.A.M.
Largest movements
- Financial fixed assets +€280,000
up €280,000 (+12,446%), from €2,250 to €282,250
- Receivables within one year -€181,637
down €181,637 (-28.6%), from €635,706 to €454,069
of which Trade receivables: -€169,570
- Other debts +€89,227
up €89,227 (+128%), from €69,683 to €158,910
- Short-term financial debts +€70,000
up €70,000 (+280%), from €25,000 to €95,000
- Tax, wage and social debts -€53,541
down €53,541 (-66.3%), from €80,705 to €27,164
of which Taxes: -€48,361
- Profit (loss) carried forward -€9,393
down €9,393, from €8,923 to -€471
- Write-downs +€66,070
new in 2025: €66,070
- Taxes -€19,086
down €19,086 (-99.2%), from €19,245 to €160
- Financial charges +€7,127
up €7,127 (+102%), from €6,983 to €14,109
- Gross operating margin -€1,662
down €1,662 (-2.3%), from €73,667 to €72,006
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 | €716,675 | €815,915 | +€99,240 | +13.8% |
| Fixed assets | 21/28 | €75,843 | €355,359 | +€279,516 | +369% |
| Tangible fixed assets | 22/27 | €73,593 | €73,109 | -€484 | -0.7% |
| Plant, machinery and equipment | 23 | €2,032 | €1,548 | -€484 | -23.8% |
| Other tangible fixed assets | 26 | €71,561 | €71,561 | = | 0.0% |
| Financial fixed assets | 28 | €2,250 | €282,250 | +€280,000 | +12,446% |
| Current assets | 29/58 | €640,832 | €460,556 | -€180,276 | -28.1% |
| Amounts receivable within one year | 40/41 | €635,706 | €454,069 | -€181,637 | -28.6% |
| Trade receivables | 40 | €596,291 | €426,722 | -€169,570 | -28.4% |
| Other amounts receivable | 41 | €39,415 | €27,347 | -€12,068 | -30.6% |
| Cash at bank and in hand | 54/58 | €2,377 | €3,597 | +€1,220 | +51.3% |
| Deferred charges and accrued income | 490/1 | €2,749 | €2,891 | +€141 | +5.1% |
| Total equity and liabilities | 10/49 | €716,675 | €815,915 | +€99,240 | +13.8% |
| Equity | 10/15 | €468,715 | €459,322 | -€9,393 | -2.0% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €446,793 | €446,793 | = | 0.0% |
| Distributable reserves | 133 | €446,793 | €446,793 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,923 | -€471 | -€9,393 | |
| Amounts payable | 17/49 | €247,959 | €356,593 | +€108,633 | +43.8% |
| Amounts payable within one year | 42/48 | €235,747 | €346,424 | +€110,677 | +46.9% |
| Financial debts | 43 | €25,000 | €95,000 | +€70,000 | +280% |
| Other loans | 439 | €25,000 | €95,000 | +€70,000 | +280% |
| Trade debts | 44 | €60,359 | €65,349 | +€4,991 | +8.3% |
| Suppliers | 440/4 | €60,359 | €65,349 | +€4,991 | +8.3% |
| Taxes, remuneration and social security | 45 | €80,705 | €27,164 | -€53,541 | -66.3% |
| Taxes | 450/3 | €52,459 | €4,098 | -€48,361 | -92.2% |
| Remuneration and social security | 454/9 | €28,246 | €23,067 | -€5,179 | -18.3% |
| Other amounts payable | 47/48 | €69,683 | €158,910 | +€89,227 | +128% |
| Accrued charges and deferred income | 492/3 | €12,213 | €10,169 | -€2,044 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €389 | €484 | +€95 | +24.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €66,070 | +€66,070 | |
| Other operating charges | 640/8 | €824 | €585 | -€239 | -29.0% |
| Gross operating margin | 9900 | €73,667 | €72,006 | -€1,662 | -2.3% |
| Operating profit (loss) | 9901 | €72,455 | €4,867 | -€67,588 | -93.3% |
| Financial income | 75/76B | €164 | €8 | -€156 | -94.8% |
| Recurring financial income | 75 | €164 | €8 | -€156 | -94.8% |
| Financial charges | 65/66B | €6,983 | €14,109 | +€7,127 | +102% |
| Recurring financial charges | 65 | €6,983 | €14,109 | +€7,127 | +102% |
| Profit (loss) for the period before taxes | 9903 | €65,636 | -€9,234 | -€74,870 | |
| Income taxes | 67/77 | €19,245 | €160 | -€19,086 | -99.2% |
| Profit (loss) for the period | 9904 | €46,391 | -€9,393 | -€55,784 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,391 | -€9,393 | -€55,784 |
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 18 October 2026 via checked.be.