RAMABEL: 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.
RAMABEL
Largest movements
- Receivables within one year +€57,010
up €57,010 (+68.7%), from €83,032 to €140,042
of which Trade receivables: +€59,554
- Cash +€12,721
up €12,721 (+7.6%), from €167,054 to €179,775
- Stocks and contracts +€8,420
up €8,420 (+14.0%), from €60,253 to €68,673
- Other debts +€34,258
up €34,258 (+9.2%), from €371,119 to €405,377
- Trade debts +€27,760
up €27,760 (+263.4%), from €10,539 to €38,299
- Profit (loss) carried forward +€22,894
up €22,894 (+12.2%), from -€187,653 to -€164,759
- Gross operating margin +€51,510
up €51,510 (+245.5%), from €20,986 to €72,496
- Other operating charges -€1,103
down €1,103 (-16.4%), from €6,740 to €5,637
- Staff costs +€1,017
up €1,017 (+4.5%), from €22,801 to €23,818
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €334,767 | €416,000 | +€81,233 | +24.3% |
| Fixed assets | 21/28 | €22,428 | €22,029 | -€399 | -1.8% |
| Tangible fixed assets | 22/27 | €22,303 | €21,904 | -€399 | -1.8% |
| Land and buildings | 22 | €21,125 | €21,125 | +€0 | 0.0% |
| Furniture and vehicles | 24 | €1,178 | €779 | -€399 | -33.9% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €312,340 | €393,971 | +€81,631 | +26.1% |
| Stocks and contracts in progress | 3 | €60,253 | €68,673 | +€8,420 | +14.0% |
| Stocks | 30/36 | €60,253 | €68,673 | +€8,420 | +14.0% |
| Amounts receivable within one year | 40/41 | €83,032 | €140,042 | +€57,010 | +68.7% |
| Trade receivables | 40 | €19,026 | €78,580 | +€59,554 | +313.0% |
| Other amounts receivable | 41 | €64,005 | €61,462 | -€2,543 | -4.0% |
| Cash at bank and in hand | 54/58 | €167,054 | €179,775 | +€12,721 | +7.6% |
| Deferred charges and accrued income | 490/1 | €2,001 | €5,481 | +€3,480 | +173.9% |
| Total equity and liabilities | 10/49 | €334,767 | €416,000 | +€81,233 | +24.3% |
| Equity | 10/15 | -€51,311 | -€28,417 | +€22,894 | +44.6% |
| Contributions | 10/11 | €123,947 | €123,947 | -€0 | 0.0% |
| Capital | 10 | €123,947 | - | -€123,947 | |
| Issued capital | 100 | €123,947 | - | -€123,947 | |
| Reserves | 13 | €12,395 | €12,395 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | +€0 | 0.0% |
| Legal reserve | 130 | €12,395 | - | -€12,395 | |
| Reserves not available under the articles | 1311 | - | €12,395 | +€12,395 | |
| Profit (loss) carried forward | 14 | -€187,653 | -€164,759 | +€22,894 | +12.2% |
| Amounts payable | 17/49 | €386,078 | €444,417 | +€58,339 | +15.1% |
| Amounts payable within one year | 42/48 | €386,078 | €444,417 | +€58,339 | +15.1% |
| Trade debts | 44 | €10,539 | €38,299 | +€27,760 | +263.4% |
| Suppliers | 440/4 | €10,539 | €38,299 | +€27,760 | +263.4% |
| Taxes, remuneration and social security | 45 | €4,420 | €741 | -€3,679 | -83.2% |
| Taxes | 450/3 | - | €741 | +€741 | |
| Remuneration and social security | 454/9 | €4,420 | - | -€4,420 | |
| Other amounts payable | 47/48 | €371,119 | €405,377 | +€34,258 | +9.2% |
| Remuneration, social security and pensions | 62 | €22,801 | €23,818 | +€1,017 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20 | €399 | +€379 | +1927.4% |
| Other operating charges | 640/8 | €6,740 | €5,637 | -€1,103 | -16.4% |
| Gross operating margin | 9900 | €20,986 | €72,496 | +€51,510 | +245.5% |
| Operating profit (loss) | 9901 | -€8,575 | €42,642 | +€51,217 | |
| Financial income | 75/76B | €81 | - | -€81 | |
| Recurring financial income | 75 | €81 | - | -€81 | |
| Financial charges | 65/66B | €78 | €236 | +€158 | +202.1% |
| Recurring financial charges | 65 | €78 | €236 | +€158 | +202.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,572 | €42,406 | +€50,978 | |
| Transfer from deferred taxes | 780 | €63,469 | - | -€63,469 | |
| Profit (loss) for the period | 9904 | €54,897 | €42,406 | -€12,491 | -22.8% |
| Transfer from tax-exempt reserves | 789 | €190,406 | - | -€190,406 | |
| Profit (loss) for the period to be appropriated | 9905 | €245,304 | €42,406 | -€202,898 | -82.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.