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.
Rama
Largest movements
- Tangible fixed assets +€1.7m
up €1.7m (+27.4%), from €6.1m to €7.7m
of which Land and buildings: +€1.7m
- Current investments -€789,632
no longer reported in 2025 (was €789,632)
- Receivables within one year +€755,318
up €755,318 (+9309.0%), from €8,114 to €763,432
of which Other amounts receivable: +€699,644
- Cash -€203,401
down €203,401 (-54.3%), from €374,589 to €171,188
mainly Investment in fixed assets (net) (-€1.9m) and Receivables within one year (-€755,318)
- Debts after one year +€1.2m
up €1.2m (+57.5%), from €2.0m to €3.2m
of which Financial debts: +€1.2m
- Other debts +€699,748
up €699,748 (+19389.5%), from €3,609 to €703,357
- Profit (loss) carried forward -€424,712
down €424,712 (-15.9%), from €2.7m to €2.3m
- Tax, wage and social debts -€88,122
down €88,122 (-61.4%), from €143,426 to €55,304
- Taxes -€278,201
down €278,201 (-72.9%), from €381,558 to €103,358
- Financial income +€110,922
up €110,922 (+4368.6%), from €2,539 to €113,461
- Gross operating margin +€59,555
up €59,555 (+10.4%), from €571,190 to €630,745
- Depreciation +€43,074
up €43,074 (+23.1%), from €186,164 to €229,238
- Financial charges +€39,494
up €39,494 (+68.1%), from €57,991 to €97,486
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 | €7,248,873 | €8,678,685 | +€1.4m | +19.7% |
| Fixed assets | 21/28 | €6,069,649 | €7,734,290 | +€1.7m | +27.4% |
| Tangible fixed assets | 22/27 | €6,069,649 | €7,734,290 | +€1.7m | +27.4% |
| Land and buildings | 22 | €6,026,906 | €7,699,685 | +€1.7m | +27.8% |
| Plant, machinery and equipment | 23 | €16,502 | €12,450 | -€4,052 | -24.6% |
| Furniture and vehicles | 24 | €26,242 | €22,155 | -€4,087 | -15.6% |
| Current assets | 29/58 | €1,179,223 | €944,395 | -€234,828 | -19.9% |
| Amounts receivable within one year | 40/41 | €8,114 | €763,432 | +€755,318 | +9309.0% |
| Trade receivables | 40 | €2,817 | €58,491 | +€55,674 | +1976.6% |
| Other amounts receivable | 41 | €5,297 | €704,941 | +€699,644 | +13208.1% |
| Current investments | 50/53 | €789,632 | - | -€789,632 | |
| Cash at bank and in hand | 54/58 | €374,589 | €171,188 | -€203,401 | -54.3% |
| Deferred charges and accrued income | 490/1 | €6,889 | €9,775 | +€2,886 | +41.9% |
| Total equity and liabilities | 10/49 | €7,248,873 | €8,678,685 | +€1.4m | +19.7% |
| Equity | 10/15 | €4,206,703 | €3,755,382 | -€451,321 | -10.7% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €929,060 | €902,451 | -€26,609 | -2.9% |
| Non-distributable reserves | 130/1 | €60,000 | €60,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €60,000 | €60,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €612,939 | €586,330 | -€26,609 | -4.3% |
| Distributable reserves | 133 | €256,121 | €256,121 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,677,642 | €2,252,931 | -€424,712 | -15.9% |
| Provisions and deferred taxes | 16 | €122,411 | €117,381 | -€5,031 | -4.1% |
| Deferred taxes | 168 | €122,411 | €117,381 | -€5,031 | -4.1% |
| Amounts payable | 17/49 | €2,919,759 | €4,805,923 | +€1.9m | +64.6% |
| Amounts payable after more than one year | 17 | €2,015,418 | €3,174,771 | +€1.2m | +57.5% |
| Financial debts | 170/4 | €2,013,187 | €3,172,540 | +€1.2m | +57.6% |
| Other amounts payable | 178/9 | €2,231 | €2,231 | = | 0.0% |
| Amounts payable within one year | 42/48 | €904,340 | €1,631,152 | +€726,812 | +80.4% |
| Current portion of amounts payable after more than one year | 42 | €469,964 | €552,093 | +€82,129 | +17.5% |
| Financial debts | 43 | €176,429 | €137,774 | -€38,656 | -21.9% |
| Credit institutions | 430/8 | €176,429 | €137,774 | -€38,656 | -21.9% |
| Trade debts | 44 | €33,968 | €72,510 | +€38,542 | +113.5% |
| Suppliers | 440/4 | €33,968 | €72,510 | +€38,542 | +113.5% |
| Advances received on contracts in progress | 46 | €76,945 | €110,114 | +€33,170 | +43.1% |
| Taxes, remuneration and social security | 45 | €143,426 | €55,304 | -€88,122 | -61.4% |
| Taxes | 450/3 | €143,426 | €55,304 | -€88,122 | -61.4% |
| Other amounts payable | 47/48 | €3,609 | €703,357 | +€699,748 | +19389.5% |
| Non-recurring operating income | 76A | - | €12,619 | +€12,619 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,164 | €229,238 | +€43,074 | +23.1% |
| Other operating charges | 640/8 | €71,872 | €70,476 | -€1,395 | -1.9% |
| Gross operating margin | 9900 | €571,190 | €630,745 | +€59,555 | +10.4% |
| Operating profit (loss) | 9901 | €313,155 | €331,031 | +€17,876 | +5.7% |
| Financial income | 75/76B | €2,539 | €113,461 | +€110,922 | +4368.6% |
| Recurring financial income | 75 | €2,539 | €113,461 | +€110,922 | +4368.6% |
| Financial charges | 65/66B | €57,991 | €97,486 | +€39,494 | +68.1% |
| Recurring financial charges | 65 | €57,991 | €97,486 | +€39,494 | +68.1% |
| Profit (loss) for the period before taxes | 9903 | €257,702 | €347,006 | +€89,304 | +34.7% |
| Transfer from deferred taxes | 780 | €304,089 | €5,031 | -€299,059 | -98.3% |
| Income taxes | 67/77 | €381,558 | €103,358 | -€278,201 | -72.9% |
| Profit (loss) for the period | 9904 | €180,233 | €248,679 | +€68,446 | +38.0% |
| Transfer from tax-exempt reserves | 789 | €923,786 | €26,609 | -€897,177 | -97.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,104,019 | €275,288 | -€828,731 | -75.1% |
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.