RAMACO: 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.
What changed
RAMACO
NACE 43.320, Joinery installation
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€201,285
2024 · €153,983+€47,302
Equity
€4.1m
2024 · €3.9m+€201,285
Cash
€690,955
2024 · €408,091+€282,865
Balance sheet total
€4.9m
2024 · €4.9m-€20,787
Largest movements
Assets
- Stocks and contracts -€389,727
down €389,727 (-35.5%), from €1.1m to €708,243
- Cash +€282,865
up €282,865 (+69.3%), from €408,091 to €690,955
mainly Stocks and contracts (+€389,727) and Depreciation (+€212,780)
- Receivables within one year +€257,245
up €257,245 (+11.8%), from €2.2m to €2.4m
of which Trade receivables: +€220,896
- Tangible fixed assets -€181,938
down €181,938 (-15.7%), from €1.2m to €978,024
Equity and liabilities
- Profit (loss) carried forward +€201,285
up €201,285 (+25.8%), from €778,931 to €980,216
- Advances received -€192,290
down €192,290 (-40.0%), from €480,705 to €288,415
- Provisions -€52,993
down €52,993 (-94.5%), from €56,081 to €3,088
Income statement
- Turnover +€587,084
up €587,084 (+6.2%), from €9.5m to €10.1m
- Goods and materials +€323,436
up €323,436 (+7.2%), from €4.5m to €4.8m
of which Purchases: +€214,257
- Staff costs +€213,445
up €213,445 (+8.3%), from €2.6m to €2.8m
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.
Result 2024
€153,983
Turnover
+€587,084
Other operating income
+€65,379
Goods and materials
-€323,436
Services and other goods
+€8,368
Staff costs
-€213,445
Depreciation
+€33,787
Other operating charges
-€21,720
Other operating items
-€80,203
Financial income
-€8,624
Financial charges
+€17,301
Taxes
-€17,181
Deferred taxes and other
-€7
Result 2025
€201,285
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.
From operations
+€313,707
Investment
-€30,843
Financing
€0
Cash 2024
€408,091
From operations (derived)
+€313,707
Net result for the year
+€201,285
Depreciation
+€212,780
Stocks and contracts
+€389,727
Receivables within one year
-€257,245
Deferred charges and accrued income
-€10,768
Provisions
-€52,993
Trade debts
+€25,805
Tax, wage and social debts
-€3,134
Advances received
-€192,290
Accrued charges and deferred income
+€540
Investment (derived)
-€30,843
Investment in fixed assets (net)
-€30,843
Cash 2025
€690,955
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,874,541 | €4,853,754 | -€20,787 | -0.4% |
| Fixed assets | 21/28 | €1,160,028 | €978,090 | -€181,938 | -15.7% |
| Tangible fixed assets | 22/27 | €1,159,962 | €978,024 | -€181,938 | -15.7% |
| Land and buildings | 22 | €305,233 | €260,471 | -€44,763 | -14.7% |
| Plant, machinery and equipment | 23 | €658,711 | €570,860 | -€87,851 | -13.3% |
| Furniture and vehicles | 24 | €196,018 | €146,694 | -€49,324 | -25.2% |
| Financial fixed assets | 28 | €66 | €66 | = | 0.0% |
| Other financial fixed assets | 284/8 | €66 | €66 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €66 | €66 | = | 0.0% |
| Current assets | 29/58 | €3,714,513 | €3,875,663 | +€161,150 | +4.3% |
| Stocks and contracts in progress | 3 | €1,097,970 | €708,243 | -€389,727 | -35.5% |
| Stocks | 30/36 | €1,097,970 | €708,243 | -€389,727 | -35.5% |
| Raw materials and consumables | 30/31 | €765,897 | €638,372 | -€127,525 | -16.7% |
| Work in progress | 32 | €332,073 | €69,871 | -€262,202 | -79.0% |
| Amounts receivable within one year | 40/41 | €2,185,982 | €2,443,227 | +€257,245 | +11.8% |
| Trade receivables | 40 | €1,118,769 | €1,339,665 | +€220,896 | +19.7% |
| Other amounts receivable | 41 | €1,067,213 | €1,103,562 | +€36,349 | +3.4% |
| Cash at bank and in hand | 54/58 | €408,091 | €690,955 | +€282,865 | +69.3% |
| Deferred charges and accrued income | 490/1 | €22,470 | €33,239 | +€10,768 | +47.9% |
| Total equity and liabilities | 10/49 | €4,874,541 | €4,853,754 | -€20,787 | -0.4% |
| Equity | 10/15 | €3,942,016 | €4,143,301 | +€201,285 | +5.1% |
| Contributions | 10/11 | €545,366 | €545,366 | = | 0.0% |
| Capital | 10 | €545,366 | €545,366 | = | 0.0% |
| Issued capital | 100 | €545,366 | €545,366 | = | 0.0% |
| Reserves | 13 | €2,617,719 | €2,617,719 | = | 0.0% |
| Non-distributable reserves | 130/1 | €77,075 | €77,075 | = | 0.0% |
| Legal reserve | 130 | €54,537 | €54,537 | = | 0.0% |
| Other | 1319 | €22,539 | €22,539 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,327 | €20,327 | = | 0.0% |
| Distributable reserves | 133 | €2,520,316 | €2,520,316 | = | 0.0% |
| Profit (loss) carried forward | 14 | €778,931 | €980,216 | +€201,285 | +25.8% |
| Provisions and deferred taxes | 16 | €56,081 | €3,088 | -€52,993 | -94.5% |
| Provisions for liabilities and charges | 160/5 | €56,081 | €3,088 | -€52,993 | -94.5% |
| Other liabilities and charges | 164/5 | €56,081 | €3,088 | -€52,993 | -94.5% |
| Amounts payable | 17/49 | €876,444 | €707,365 | -€169,079 | -19.3% |
| Amounts payable within one year | 42/48 | €875,393 | €705,774 | -€169,619 | -19.4% |
| Trade debts | 44 | €307,400 | €333,205 | +€25,805 | +8.4% |
| Suppliers | 440/4 | €307,400 | €333,205 | +€25,805 | +8.4% |
| Advances received on contracts in progress | 46 | €480,705 | €288,415 | -€192,290 | -40.0% |
| Taxes, remuneration and social security | 45 | €87,288 | €84,153 | -€3,134 | -3.6% |
| Taxes | 450/3 | €2,658 | €11,533 | +€8,875 | +333.9% |
| Remuneration and social security | 454/9 | €84,629 | €72,620 | -€12,010 | -14.2% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €1,052 | €1,591 | +€540 | +51.3% |
| Operating income | 70/76A | €9,662,122 | €10,230,442 | +€568,320 | +5.9% |
| Turnover | 70 | €9,536,089 | €10,123,173 | +€587,084 | +6.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €39,352 | -€69,913 | -€109,265 | |
| Other operating income | 74 | €57,750 | €123,128 | +€65,379 | +113.2% |
| Non-recurring operating income | 76A | €28,931 | €54,053 | +€25,122 | +86.8% |
| Operating charges | 60/66A | €9,511,434 | €10,023,941 | +€512,506 | +5.4% |
| Goods for resale, raw materials and consumables | 60 | €4,505,980 | €4,829,416 | +€323,436 | +7.2% |
| Purchases | 600/8 | €4,487,634 | €4,701,891 | +€214,257 | +4.8% |
| Change in stocks: decrease (increase) | 609 | €18,346 | €127,525 | +€109,179 | +595.1% |
| Services and other goods | 61 | €2,132,056 | €2,123,688 | -€8,368 | -0.4% |
| Remuneration, social security and pensions | 62 | €2,564,969 | €2,778,414 | +€213,445 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €246,568 | €212,780 | -€33,787 | -13.7% |
| Other operating charges | 640/8 | €56,862 | €78,582 | +€21,720 | +38.2% |
| Non-recurring operating charges | 66A | €5,000 | €1,060 | -€3,940 | -78.8% |
| Operating profit (loss) | 9901 | €150,688 | €206,501 | +€55,814 | +37.0% |
| Financial income | 75/76B | €90,194 | €81,570 | -€8,624 | -9.6% |
| Recurring financial income | 75 | €90,194 | €81,570 | -€8,624 | -9.6% |
| Income from current assets | 751 | €12,432 | €10,059 | -€2,373 | -19.1% |
| Other financial income | 752/9 | €77,763 | €71,512 | -€6,251 | -8.0% |
| Financial charges | 65/66B | €23,896 | €6,596 | -€17,301 | -72.4% |
| Recurring financial charges | 65 | €23,896 | €6,596 | -€17,301 | -72.4% |
| Debt charges | 650 | €15,213 | €1,858 | -€13,355 | -87.8% |
| Other financial charges | 652/9 | €8,683 | €4,738 | -€3,946 | -45.4% |
| Profit (loss) for the period before taxes | 9903 | €216,985 | €281,476 | +€64,491 | +29.7% |
| Transfer from deferred taxes | 780 | €7 | - | -€7 | |
| Income taxes | 67/77 | €63,010 | €80,191 | +€17,181 | +27.3% |
| Taxes | 670/3 | €63,010 | €80,544 | +€17,534 | +27.8% |
| Tax adjustments and reversals of tax provisions | 77 | - | €353 | +€353 | |
| Profit (loss) for the period | 9904 | €153,983 | €201,285 | +€47,302 | +30.7% |
| Transfer from tax-exempt reserves | 789 | €22 | - | -€22 | |
| Profit (loss) for the period to be appropriated | 9905 | €154,005 | €201,285 | +€47,280 | +30.7% |
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.