RAMOWAS: 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.
RAMOWAS
Largest movements
- Financial fixed assets +€1.2m
up €1.2m, from €0 to €1.2m
- Cash -€270,667
down €270,667 (-84.1%), from €321,842 to €51,175
mainly Investment in fixed assets (net) (-€1.3m) and Receivables within one year (-€34,676)
- Receivables within one year +€34,676
up €34,676 (+60.6%), from €57,218 to €91,894
of which Other amounts receivable: +€50,142
- Tangible fixed assets +€24,078
up €24,078 (+15.6%), from €154,613 to €178,691
of which Leasing and similar rights: +€41,039
- Debts after one year +€965,859
up €965,859, from €0 to €965,859
of which Other amounts payable: +€932,996
- Reserves +€42,694
up €42,694 (+26.0%), from €164,193 to €206,886
of which Distributable reserves: +€39,694
- Trade debts +€32,694
up €32,694 (+102%), from €32,168 to €64,862
- Tax, wage and social debts -€22,668
down €22,668 (-31.9%), from €70,970 to €48,302
of which Taxes: -€26,629
- Gross operating margin -€131,050
down €131,050 (-42.5%), from €308,018 to €176,969
- Taxes -€37,071
down €37,071 (-64.8%), from €57,243 to €20,172
- Other operating charges -€18,581
down €18,581 (-75.2%), from €24,716 to €6,136
- Staff costs +€7,784
up €7,784 (+10.9%), from €71,297 to €79,081
- Depreciation +€5,974
up €5,974 (+34.3%), from €17,404 to €23,378
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 | €544,381 | €1,579,945 | +€1.0m | +190% |
| Fixed assets | 21/28 | €154,613 | €1,426,691 | +€1.3m | +823% |
| Tangible fixed assets | 22/27 | €154,613 | €178,691 | +€24,078 | +15.6% |
| Land and buildings | 22 | €89,359 | €86,419 | -€2,940 | -3.3% |
| Plant, machinery and equipment | 23 | €65,228 | €49,283 | -€15,945 | -24.4% |
| Furniture and vehicles | 24 | €26 | €1,950 | +€1,924 | +7,502% |
| Leasing and similar rights | 25 | - | €41,039 | +€41,039 | |
| Financial fixed assets | 28 | €0 | €1,248,000 | +€1.2m | |
| Current assets | 29/58 | €389,768 | €153,254 | -€236,514 | -60.7% |
| Stocks and contracts in progress | 3 | €3,833 | €3,693 | -€140 | -3.7% |
| Stocks | 30/36 | €3,833 | €3,693 | -€140 | -3.7% |
| Amounts receivable within one year | 40/41 | €57,218 | €91,894 | +€34,676 | +60.6% |
| Trade receivables | 40 | €56,106 | €40,641 | -€15,466 | -27.6% |
| Other amounts receivable | 41 | €1,111 | €51,253 | +€50,142 | +4,511% |
| Cash at bank and in hand | 54/58 | €321,842 | €51,175 | -€270,667 | -84.1% |
| Deferred charges and accrued income | 490/1 | €6,876 | €6,492 | -€384 | -5.6% |
| Total equity and liabilities | 10/49 | €544,381 | €1,579,945 | +€1.0m | +190% |
| Equity | 10/15 | €434,193 | €476,886 | +€42,694 | +9.8% |
| Contributions | 10/11 | €270,000 | €270,000 | = | 0.0% |
| Capital | 10 | €270,000 | €270,000 | = | 0.0% |
| Issued capital | 100 | €270,000 | €270,000 | = | 0.0% |
| Reserves | 13 | €164,193 | €206,886 | +€42,694 | +26.0% |
| Non-distributable reserves | 130/1 | €9,800 | €12,800 | +€3,000 | +30.6% |
| Legal reserve | 130 | €9,800 | €12,800 | +€3,000 | +30.6% |
| Distributable reserves | 133 | €154,393 | €194,086 | +€39,694 | +25.7% |
| Amounts payable | 17/49 | €110,188 | €1,103,058 | +€992,870 | +901% |
| Amounts payable after more than one year | 17 | €0 | €965,859 | +€965,859 | |
| Financial debts | 170/4 | €0 | €32,864 | +€32,864 | |
| Other amounts payable | 178/9 | - | €932,996 | +€932,996 | |
| Amounts payable within one year | 42/48 | €103,138 | €121,450 | +€18,312 | +17.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | €8,286 | +€8,286 | |
| Trade debts | 44 | €32,168 | €64,862 | +€32,694 | +102% |
| Suppliers | 440/4 | €32,168 | €64,862 | +€32,694 | +102% |
| Taxes, remuneration and social security | 45 | €70,970 | €48,302 | -€22,668 | -31.9% |
| Taxes | 450/3 | €59,491 | €32,862 | -€26,629 | -44.8% |
| Remuneration and social security | 454/9 | €11,478 | €15,440 | +€3,961 | +34.5% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €7,050 | €15,749 | +€8,699 | +123% |
| Non-recurring operating income | 76A | €40,699 | €2,231 | -€38,467 | -94.5% |
| Remuneration, social security and pensions | 62 | €71,297 | €79,081 | +€7,784 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,404 | €23,378 | +€5,974 | +34.3% |
| Other operating charges | 640/8 | €24,716 | €6,136 | -€18,581 | -75.2% |
| Gross operating margin | 9900 | €308,018 | €176,969 | -€131,050 | -42.5% |
| Operating profit (loss) | 9901 | €194,601 | €68,374 | -€126,227 | -64.9% |
| Financial income | 75/76B | €72 | €17 | -€56 | -77.1% |
| Recurring financial income | 75 | €72 | €17 | -€56 | -77.1% |
| Financial charges | 65/66B | €147 | €5,525 | +€5,378 | +3,661% |
| Recurring financial charges | 65 | €147 | €5,525 | +€5,378 | +3,661% |
| Profit (loss) for the period before taxes | 9903 | €194,526 | €62,866 | -€131,660 | -67.7% |
| Income taxes | 67/77 | €57,243 | €20,172 | -€37,071 | -64.8% |
| Profit (loss) for the period | 9904 | €137,283 | €42,694 | -€94,589 | -68.9% |
| Profit (loss) for the period to be appropriated | 9905 | €137,283 | €42,694 | -€94,589 | -68.9% |
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.