Rama: what changed
Two fiscal 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 -€175,998
down €175,998 (-4.5%), from €4.0m to €3.8m
of which Land and buildings: -€166,313
- Cash +€151,264
up €151,264 (+133.9%), from €112,933 to €264,197
mainly Depreciation (+€177,372) and Net result for the year (+€92,259)
- Receivables within one year +€137,599
up €137,599 (+109.0%), from €126,273 to €263,872
of which Trade receivables: +€105,418
- Reserves +€92,259
up €92,259 (+75.9%), from €121,513 to €213,772
- Debts after one year -€82,035
down €82,035 (-2.3%), from €3.6m to €3.6m
of which Financial debts: -€82,035
- Trade debts +€79,289
up €79,289 (+406.1%), from €19,524 to €98,814
- Gross operating margin +€136,776
up €136,776 (+31.6%), from €432,690 to €569,466
- Taxes +€28,099
up €28,099 (+2692.2%), from €1,044 to €29,143
- Staff costs +€27,582
up €27,582 (+16.2%), from €170,313 to €197,895
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 | €4,191,394 | €4,307,195 | +€115,800 | +2.8% |
| Fixed assets | 21/28 | €3,950,080 | €3,774,082 | -€175,998 | -4.5% |
| Tangible fixed assets | 22/27 | €3,950,020 | €3,774,022 | -€175,998 | -4.5% |
| Land and buildings | 22 | €3,899,861 | €3,733,548 | -€166,313 | -4.3% |
| Plant, machinery and equipment | 23 | €39,926 | €34,723 | -€5,202 | -13.0% |
| Furniture and vehicles | 24 | €10,233 | €5,750 | -€4,483 | -43.8% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €241,314 | €533,112 | +€291,799 | +120.9% |
| Amounts receivable within one year | 40/41 | €126,273 | €263,872 | +€137,599 | +109.0% |
| Trade receivables | 40 | €18,277 | €123,695 | +€105,418 | +576.8% |
| Other amounts receivable | 41 | €107,996 | €140,177 | +€32,182 | +29.8% |
| Cash at bank and in hand | 54/58 | €112,933 | €264,197 | +€151,264 | +133.9% |
| Deferred charges and accrued income | 490/1 | €2,108 | €5,043 | +€2,935 | +139.3% |
| Total equity and liabilities | 10/49 | €4,191,394 | €4,307,195 | +€115,800 | +2.8% |
| Equity | 10/15 | €111,251 | €203,510 | +€92,259 | +82.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €121,513 | €213,772 | +€92,259 | +75.9% |
| Distributable reserves | 133 | €121,513 | €213,772 | +€92,259 | +75.9% |
| Profit (loss) carried forward | 14 | -€30,263 | -€30,263 | = | 0.0% |
| Amounts payable | 17/49 | €4,080,144 | €4,103,685 | +€23,542 | +0.6% |
| Amounts payable after more than one year | 17 | €3,635,755 | €3,553,720 | -€82,035 | -2.3% |
| Financial debts | 170/4 | €3,581,617 | €3,499,582 | -€82,035 | -2.3% |
| Other amounts payable | 178/9 | €54,138 | €54,138 | = | 0.0% |
| Amounts payable within one year | 42/48 | €424,074 | €527,163 | +€103,090 | +24.3% |
| Current portion of amounts payable after more than one year | 42 | €378,835 | €382,035 | +€3,200 | +0.8% |
| Trade debts | 44 | €19,524 | €98,814 | +€79,289 | +406.1% |
| Suppliers | 440/4 | €19,524 | €98,814 | +€79,289 | +406.1% |
| Taxes, remuneration and social security | 45 | €14,513 | €34,891 | +€20,378 | +140.4% |
| Taxes | 450/3 | €1,096 | €20,290 | +€19,194 | +1750.7% |
| Remuneration and social security | 454/9 | €13,417 | €14,601 | +€1,184 | +8.8% |
| Other amounts payable | 47/48 | €11,201 | €11,423 | +€222 | +2.0% |
| Accrued charges and deferred income | 492/3 | €20,315 | €22,802 | +€2,487 | +12.2% |
| Remuneration, social security and pensions | 62 | €170,313 | €197,895 | +€27,582 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €177,313 | €177,372 | +€60 | 0.0% |
| Other operating charges | 640/8 | €17,448 | €17,983 | +€535 | +3.1% |
| Gross operating margin | 9900 | €432,690 | €569,466 | +€136,776 | +31.6% |
| Operating profit (loss) | 9901 | €67,617 | €176,215 | +€108,599 | +160.6% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €56,136 | €54,815 | -€1,321 | -2.4% |
| Recurring financial charges | 65 | €56,136 | €54,815 | -€1,321 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €11,481 | €121,402 | +€109,921 | +957.4% |
| Income taxes | 67/77 | €1,044 | €29,143 | +€28,099 | +2692.2% |
| Profit (loss) for the period | 9904 | €10,437 | €92,259 | +€81,822 | +784.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,437 | €92,259 | +€81,822 | +784.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.