RAMON SANDY: 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.
RAMON SANDY
Largest movements
- Stocks and contracts +€73,501
up €73,501 (+28.2%), from €260,811 to €334,313
- Receivables within one year -€32,908
down €32,908 (-16.0%), from €205,988 to €173,081
of which Other amounts receivable: -€89,481
- Cash +€19,642
up €19,642 (+184%), from €10,699 to €30,341
mainly Other debts (+€131,546) and Receivables within one year (+€32,908)
- Other debts +€131,546
up €131,546 (+46.5%), from €282,648 to €414,194
- Profit (loss) carried forward -€93,813
down €93,813, from €978 to -€92,835
- Trade debts +€23,016
up €23,016 (+35.5%), from €64,905 to €87,921
- Advances received +€5,715
new in 2025: €5,715
- Gross operating margin -€105,598
down €105,598, from €22,439 to -€83,159
- Other operating charges +€5,220
up €5,220 (+242%), from €2,157 to €7,377
- Taxes -€2,751
down €2,751 (-100%), from €2,751 to €0
- Depreciation -€1,208
down €1,208 (-36.9%), from €3,276 to €2,068
- Financial income +€939
up €939 (+1,682%), from €56 to €994
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 | €484,965 | €547,317 | +€62,352 | +12.9% |
| Fixed assets | 21/28 | €4,564 | €8,517 | +€3,953 | +86.6% |
| Tangible fixed assets | 22/27 | €2,851 | €6,804 | +€3,953 | +139% |
| Plant, machinery and equipment | 23 | €276 | €5,106 | +€4,831 | +1,751% |
| Furniture and vehicles | 24 | €2,575 | €1,697 | -€877 | -34.1% |
| Financial fixed assets | 28 | €1,713 | €1,713 | = | 0.0% |
| Current assets | 29/58 | €480,401 | €538,800 | +€58,399 | +12.2% |
| Stocks and contracts in progress | 3 | €260,811 | €334,313 | +€73,501 | +28.2% |
| Stocks | 30/36 | €260,811 | €334,313 | +€73,501 | +28.2% |
| Amounts receivable within one year | 40/41 | €205,988 | €173,081 | -€32,908 | -16.0% |
| Trade receivables | 40 | €39,897 | €96,471 | +€56,574 | +142% |
| Other amounts receivable | 41 | €166,091 | €76,610 | -€89,481 | -53.9% |
| Cash at bank and in hand | 54/58 | €10,699 | €30,341 | +€19,642 | +184% |
| Deferred charges and accrued income | 490/1 | €2,902 | €1,065 | -€1,837 | -63.3% |
| Total equity and liabilities | 10/49 | €484,965 | €547,317 | +€62,352 | +12.9% |
| Equity | 10/15 | €118,276 | €24,463 | -€93,813 | -79.3% |
| Contributions | 10/11 | €14,734 | €14,734 | = | 0.0% |
| Reserves | 13 | €102,564 | €102,564 | = | 0.0% |
| Tax-exempt reserves | 132 | €564 | €564 | = | 0.0% |
| Distributable reserves | 133 | €102,000 | €102,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €978 | -€92,835 | -€93,813 | |
| Amounts payable | 17/49 | €366,688 | €522,854 | +€156,165 | +42.6% |
| Amounts payable within one year | 42/48 | €363,747 | €522,854 | +€159,106 | +43.7% |
| Trade debts | 44 | €64,905 | €87,921 | +€23,016 | +35.5% |
| Suppliers | 440/4 | €64,905 | €87,921 | +€23,016 | +35.5% |
| Advances received on contracts in progress | 46 | - | €5,715 | +€5,715 | |
| Taxes, remuneration and social security | 45 | €16,195 | €15,024 | -€1,171 | -7.2% |
| Taxes | 450/3 | €16,195 | €5,024 | -€11,171 | -69.0% |
| Remuneration and social security | 454/9 | - | €10,000 | +€10,000 | |
| Other amounts payable | 47/48 | €282,648 | €414,194 | +€131,546 | +46.5% |
| Accrued charges and deferred income | 492/3 | €2,941 | €0 | -€2,941 | -100% |
| Non-recurring operating income | 76A | €36 | €0 | -€36 | -100% |
| Remuneration, social security and pensions | 62 | €861 | €0 | -€861 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,276 | €2,068 | -€1,208 | -36.9% |
| Other operating charges | 640/8 | €2,157 | €7,377 | +€5,220 | +242% |
| Gross operating margin | 9900 | €22,439 | -€83,159 | -€105,598 | |
| Operating profit (loss) | 9901 | €16,145 | -€92,604 | -€108,749 | |
| Financial income | 75/76B | €56 | €994 | +€939 | +1,682% |
| Recurring financial income | 75 | €56 | €994 | +€939 | +1,682% |
| Financial charges | 65/66B | €1,981 | €2,204 | +€223 | +11.3% |
| Recurring financial charges | 65 | €1,981 | €2,204 | +€223 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €14,220 | -€93,813 | -€108,033 | |
| Income taxes | 67/77 | €2,751 | €0 | -€2,751 | -100% |
| Profit (loss) for the period | 9904 | €11,469 | -€93,813 | -€105,282 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,469 | -€93,813 | -€105,282 |
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 22 October 2026 via checked.be.