RAMON CARL: what changed
RAMON CARL
Largest movements
- Stocks and contracts +€34,863
up €34,863 (+842%), from €4,142 to €39,005
- Receivables within one year -€25,233
down €25,233 (-52.6%), from €47,981 to €22,749
of which Trade receivables: -€26,315
- Cash +€17,460
up €17,460 (+31.1%), from €56,170 to €73,630
mainly Receivables within one year (+€25,233) and Depreciation (+€9,267)
- Tangible fixed assets -€9,267
down €9,267 (-2.7%), from €337,111 to €327,844
of which Land and buildings: -€6,073
- Deferred charges and accrued income -€5,625
down €5,625 (-92.1%), from €6,107 to €482
- Reserves +€8,144
up €8,144 (+3.5%), from €231,923 to €240,068
- Other debts +€8,007
up €8,007 (+4.2%), from €190,876 to €198,884
- Gross operating margin -€15,683
down €15,683 (-32.7%), from €47,978 to €32,295
- Other operating charges -€6,367
down €6,367 (-75.0%), from €8,484 to €2,117
- Taxes -€2,936
down €2,936 (-46.3%), from €6,337 to €3,401
- Depreciation +€1,491
up €1,491 (+19.2%), from €7,776 to €9,267
- Financial charges +€895
up €895 (+10.1%), from €8,876 to €9,771
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €451,510 | €464,211 | +€12,700 | +2.8% |
| Fixed assets | 21/28 | €337,111 | €328,344 | -€8,767 | -2.6% |
| Tangible fixed assets | 22/27 | €337,111 | €327,844 | -€9,267 | -2.7% |
| Land and buildings | 22 | €323,746 | €317,673 | -€6,073 | -1.9% |
| Plant, machinery and equipment | 23 | €13,365 | €10,171 | -€3,194 | -23.9% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €114,400 | €135,866 | +€21,467 | +18.8% |
| Stocks and contracts in progress | 3 | €4,142 | €39,005 | +€34,863 | +842% |
| Stocks | 30/36 | €4,142 | €39,005 | +€34,863 | +842% |
| Amounts receivable within one year | 40/41 | €47,981 | €22,749 | -€25,233 | -52.6% |
| Trade receivables | 40 | €44,434 | €18,119 | -€26,315 | -59.2% |
| Other amounts receivable | 41 | €3,548 | €4,630 | +€1,082 | +30.5% |
| Cash at bank and in hand | 54/58 | €56,170 | €73,630 | +€17,460 | +31.1% |
| Deferred charges and accrued income | 490/1 | €6,107 | €482 | -€5,625 | -92.1% |
| Total equity and liabilities | 10/49 | €451,510 | €464,211 | +€12,700 | +2.8% |
| Equity | 10/15 | €238,123 | €246,268 | +€8,144 | +3.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €231,923 | €240,068 | +€8,144 | +3.5% |
| Distributable reserves | 133 | €231,923 | €240,068 | +€8,144 | +3.5% |
| Amounts payable | 17/49 | €213,387 | €217,943 | +€4,556 | +2.1% |
| Amounts payable within one year | 42/48 | €207,240 | €210,959 | +€3,719 | +1.8% |
| Trade debts | 44 | €10,565 | €7,497 | -€3,069 | -29.0% |
| Suppliers | 440/4 | €10,565 | €7,497 | -€3,069 | -29.0% |
| Taxes, remuneration and social security | 45 | €5,798 | €4,579 | -€1,219 | -21.0% |
| Taxes | 450/3 | €5,798 | €4,579 | -€1,219 | -21.0% |
| Other amounts payable | 47/48 | €190,876 | €198,884 | +€8,007 | +4.2% |
| Accrued charges and deferred income | 492/3 | €6,147 | €6,984 | +€836 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,776 | €9,267 | +€1,491 | +19.2% |
| Other operating charges | 640/8 | €8,484 | €2,117 | -€6,367 | -75.0% |
| Gross operating margin | 9900 | €47,978 | €32,295 | -€15,683 | -32.7% |
| Operating profit (loss) | 9901 | €31,718 | €20,912 | -€10,806 | -34.1% |
| Financial income | 75/76B | €134 | €405 | +€271 | +203% |
| Recurring financial income | 75 | €134 | €405 | +€271 | +203% |
| Financial charges | 65/66B | €8,876 | €9,771 | +€895 | +10.1% |
| Recurring financial charges | 65 | €8,876 | €9,771 | +€895 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €22,975 | €11,546 | -€11,430 | -49.7% |
| Income taxes | 67/77 | €6,337 | €3,401 | -€2,936 | -46.3% |
| Profit (loss) for the period | 9904 | €16,638 | €8,144 | -€8,494 | -51.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,638 | €8,144 | -€8,494 | -51.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.