RAMO: 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.
RAMO
Largest movements
- Receivables within one year -€28,414
down €28,414 (-22.0%), from €128,898 to €100,485
of which Trade receivables: -€28,147
- Tangible fixed assets +€9,793
up €9,793 (+71.4%), from €13,717 to €23,510
of which Furniture and vehicles: +€11,123
- Deferred charges and accrued income +€2,473
new in 2025: €2,473
- Cash +€1,884
up €1,884 (+15.4%), from €12,251 to €14,135
mainly Receivables within one year (+€28,414) and Depreciation (+€11,721)
- Trade debts -€9,573
down €9,573 (-19.0%), from €50,288 to €40,715
- Tax, wage and social debts -€6,921
down €6,921 (-66.5%), from €10,414 to €3,493
of which Taxes: -€6,921
- Gross operating margin -€9,125
down €9,125 (-33.6%), from €27,123 to €17,998
- Staff costs -€6,436
no longer reported in 2025 (was €6,436)
- Depreciation +€2,588
up €2,588 (+28.3%), from €9,133 to €11,721
- Other operating charges -€570
down €570 (-23.5%), from €2,430 to €1,860
- Taxes -€443
down €443 (-13.0%), from €3,420 to €2,977
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.
Derived cash bridge
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 | €154,865 | €140,602 | -€14,263 | -9.2% |
| Fixed assets | 21/28 | €13,717 | €23,510 | +€9,793 | +71.4% |
| Tangible fixed assets | 22/27 | €13,717 | €23,510 | +€9,793 | +71.4% |
| Plant, machinery and equipment | 23 | €2,363 | €1,033 | -€1,330 | -56.3% |
| Furniture and vehicles | 24 | €11,353 | €22,477 | +€11,123 | +98.0% |
| Current assets | 29/58 | €141,149 | €117,093 | -€24,056 | -17.0% |
| Amounts receivable within one year | 40/41 | €128,898 | €100,485 | -€28,414 | -22.0% |
| Trade receivables | 40 | €127,423 | €99,276 | -€28,147 | -22.1% |
| Other amounts receivable | 41 | €1,475 | €1,208 | -€267 | -18.1% |
| Cash at bank and in hand | 54/58 | €12,251 | €14,135 | +€1,884 | +15.4% |
| Deferred charges and accrued income | 490/1 | - | €2,473 | +€2,473 | |
| Total equity and liabilities | 10/49 | €154,865 | €140,602 | -€14,263 | -9.2% |
| Equity | 10/15 | €91,998 | €92,797 | +€799 | +0.9% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Capital | 10 | €7,000 | €7,000 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €11,600 | €11,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,138 | €83,937 | +€799 | +1.0% |
| Amounts payable | 17/49 | €62,868 | €47,805 | -€15,062 | -24.0% |
| Amounts payable within one year | 42/48 | €62,868 | €47,805 | -€15,062 | -24.0% |
| Trade debts | 44 | €50,288 | €40,715 | -€9,573 | -19.0% |
| Suppliers | 440/4 | €50,288 | €40,715 | -€9,573 | -19.0% |
| Taxes, remuneration and social security | 45 | €10,414 | €3,493 | -€6,921 | -66.5% |
| Taxes | 450/3 | €9,876 | €2,955 | -€6,921 | -70.1% |
| Remuneration and social security | 454/9 | €538 | €538 | = | 0.0% |
| Other amounts payable | 47/48 | €2,166 | €3,598 | +€1,432 | +66.1% |
| Remuneration, social security and pensions | 62 | €6,436 | - | -€6,436 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,133 | €11,721 | +€2,588 | +28.3% |
| Other operating charges | 640/8 | €2,430 | €1,860 | -€570 | -23.5% |
| Gross operating margin | 9900 | €27,123 | €17,998 | -€9,125 | -33.6% |
| Operating profit (loss) | 9901 | €9,124 | €4,417 | -€4,707 | -51.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €232 | €642 | +€410 | +177% |
| Recurring financial charges | 65 | €232 | €642 | +€410 | +177% |
| Profit (loss) for the period before taxes | 9903 | €8,892 | €3,776 | -€5,115 | -57.5% |
| Income taxes | 67/77 | €3,420 | €2,977 | -€443 | -13.0% |
| Profit (loss) for the period | 9904 | €5,472 | €799 | -€4,672 | -85.4% |
| Profit (loss) for the period to be appropriated | 9905 | €5,472 | €799 | -€4,672 | -85.4% |
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 15 October 2026 via checked.be.