RAMFRED CONSTRUCT: 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.
RAMFRED CONSTRUCT
Largest movements
- Receivables within one year -€64,321
down €64,321 (-44.7%), from €144,018 to €79,696
of which Trade receivables: -€65,841
- Cash +€6,536
up €6,536 (+565.0%), from €1,157 to €7,693
mainly Receivables within one year (+€64,321) and Accrued charges and deferred income (+€14,132)
- Deferred charges and accrued income +€1,596
up €1,596 (+31.6%), from €5,058 to €6,655
- Trade debts -€70,189
down €70,189 (-56.9%), from €123,259 to €53,071
- Accrued charges and deferred income +€14,132
new in 2025: €14,132
- Other debts -€7,291
down €7,291 (-54.2%), from €13,463 to €6,171
- Profit (loss) carried forward +€5,585
up €5,585 (+61.5%), from €9,082 to €14,667
- Tax, wage and social debts +€1,575
up €1,575 (+68.7%), from €2,292 to €3,867
- Other operating charges -€16,759
down €16,759 (-90.3%), from €18,552 to €1,793
- Gross operating margin -€8,391
down €8,391 (-35.1%), from €23,884 to €15,492
- Financial charges +€4,689
up €4,689 (+635.6%), from €738 to €5,427
- Taxes +€1,513
up €1,513 (+128.5%), from €1,177 to €2,690
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 | €150,596 | €94,407 | -€56,189 | -37.3% |
| Fixed assets | 21/28 | €363 | €363 | = | 0.0% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €150,233 | €94,044 | -€56,189 | -37.4% |
| Amounts receivable within one year | 40/41 | €144,018 | €79,696 | -€64,321 | -44.7% |
| Trade receivables | 40 | €139,273 | €73,433 | -€65,841 | -47.3% |
| Other amounts receivable | 41 | €4,744 | €6,264 | +€1,519 | +32.0% |
| Cash at bank and in hand | 54/58 | €1,157 | €7,693 | +€6,536 | +565.0% |
| Deferred charges and accrued income | 490/1 | €5,058 | €6,655 | +€1,596 | +31.6% |
| Total equity and liabilities | 10/49 | €150,596 | €94,407 | -€56,189 | -37.3% |
| Equity | 10/15 | €11,582 | €17,167 | +€5,585 | +48.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,082 | €14,667 | +€5,585 | +61.5% |
| Amounts payable | 17/49 | €139,014 | €77,240 | -€61,774 | -44.4% |
| Amounts payable within one year | 42/48 | €139,014 | €63,109 | -€75,905 | -54.6% |
| Trade debts | 44 | €123,259 | €53,071 | -€70,189 | -56.9% |
| Suppliers | 440/4 | €123,259 | €53,071 | -€70,189 | -56.9% |
| Taxes, remuneration and social security | 45 | €2,292 | €3,867 | +€1,575 | +68.7% |
| Taxes | 450/3 | €2,292 | €3,867 | +€1,575 | +68.7% |
| Other amounts payable | 47/48 | €13,463 | €6,171 | -€7,291 | -54.2% |
| Accrued charges and deferred income | 492/3 | - | €14,132 | +€14,132 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139 | - | -€139 | |
| Other operating charges | 640/8 | €18,552 | €1,793 | -€16,759 | -90.3% |
| Gross operating margin | 9900 | €23,884 | €15,492 | -€8,391 | -35.1% |
| Operating profit (loss) | 9901 | €5,192 | €13,700 | +€8,507 | +163.8% |
| Financial income | 75/76B | €1 | €2 | +€1 | +92.5% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +92.5% |
| Financial charges | 65/66B | €738 | €5,427 | +€4,689 | +635.6% |
| Recurring financial charges | 65 | €738 | €5,427 | +€4,689 | +635.6% |
| Profit (loss) for the period before taxes | 9903 | €4,456 | €8,275 | +€3,819 | +85.7% |
| Income taxes | 67/77 | €1,177 | €2,690 | +€1,513 | +128.5% |
| Profit (loss) for the period | 9904 | €3,279 | €5,585 | +€2,306 | +70.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,279 | €5,585 | +€2,306 | +70.3% |
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 12 October 2026 via checked.be.