RAMSES: 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.
RAMSES
Largest movements
- Cash +€545,432
up €545,432 (+291.1%), from €187,345 to €732,777
mainly Receivables within one year (+€337,922) and Net result for the year (+€304,588)
- Receivables within one year -€337,922
down €337,922 (-28.0%), from €1.2m to €869,349
of which Other amounts receivable: -€386,935
- Tangible fixed assets +€56,082
up €56,082 (+8.4%), from €665,924 to €722,006
of which Land and buildings: +€54,278
- Reserves +€183,588
up €183,588 (+14.8%), from €1.2m to €1.4m
of which Distributable reserves: +€190,102
- Other debts +€63,000
up €63,000 (+24.4%), from €258,000 to €321,000
- Tax, wage and social debts +€39,321
up €39,321 (+47.8%), from €82,347 to €121,668
- Gross operating margin +€149,168
up €149,168 (+50.0%), from €298,419 to €447,587
- Taxes +€38,657
up €38,657 (+62.0%), from €62,303 to €100,960
- Other operating charges -€17,833
down €17,833 (-74.4%), from €23,964 to €6,131
- Financial charges +€13,409
up €13,409 (+516.4%), from €2,597 to €16,006
- Financial income -€7,860
down €7,860 (-12.7%), from €61,797 to €53,936
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 | €2,061,239 | €2,324,132 | +€262,893 | +12.8% |
| Fixed assets | 21/28 | €665,924 | €722,006 | +€56,082 | +8.4% |
| Tangible fixed assets | 22/27 | €665,924 | €722,006 | +€56,082 | +8.4% |
| Land and buildings | 22 | €660,992 | €715,270 | +€54,278 | +8.2% |
| Furniture and vehicles | 24 | €4,932 | €6,736 | +€1,804 | +36.6% |
| Current assets | 29/58 | €1,395,316 | €1,602,126 | +€206,810 | +14.8% |
| Amounts receivable after more than one year | 29 | €699 | - | -€699 | |
| Trade receivables | 290 | €699 | - | -€699 | |
| Amounts receivable within one year | 40/41 | €1,207,271 | €869,349 | -€337,922 | -28.0% |
| Trade receivables | 40 | €42,514 | €91,527 | +€49,012 | +115.3% |
| Other amounts receivable | 41 | €1,164,757 | €777,822 | -€386,935 | -33.2% |
| Cash at bank and in hand | 54/58 | €187,345 | €732,777 | +€545,432 | +291.1% |
| Total equity and liabilities | 10/49 | €2,061,239 | €2,324,132 | +€262,893 | +12.8% |
| Equity | 10/15 | €1,367,538 | €1,551,126 | +€183,588 | +13.4% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Capital | 10 | €130,000 | €130,000 | = | 0.0% |
| Issued capital | 100 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €1,237,538 | €1,421,126 | +€183,588 | +14.8% |
| Non-distributable reserves | 130/1 | €6,350 | €6,350 | = | 0.0% |
| Legal reserve | 130 | €6,350 | €6,350 | = | 0.0% |
| Tax-exempt reserves | 132 | €175,414 | €168,901 | -€6,513 | -3.7% |
| Distributable reserves | 133 | €1,055,774 | €1,245,875 | +€190,102 | +18.0% |
| Provisions and deferred taxes | 16 | €75,253 | €72,486 | -€2,766 | -3.7% |
| Deferred taxes | 168 | €75,253 | €72,486 | -€2,766 | -3.7% |
| Amounts payable | 17/49 | €618,449 | €700,520 | +€82,071 | +13.3% |
| Amounts payable after more than one year | 17 | €278,102 | €257,604 | -€20,499 | -7.4% |
| Financial debts | 170/4 | €278,102 | €257,604 | -€20,499 | -7.4% |
| Amounts payable within one year | 42/48 | €340,347 | €442,916 | +€102,570 | +30.1% |
| Trade debts | 44 | - | €248 | +€248 | |
| Suppliers | 440/4 | - | €248 | +€248 | |
| Taxes, remuneration and social security | 45 | €82,347 | €121,668 | +€39,321 | +47.8% |
| Taxes | 450/3 | €82,347 | €121,668 | +€39,321 | +47.8% |
| Other amounts payable | 47/48 | €258,000 | €321,000 | +€63,000 | +24.4% |
| Remuneration, social security and pensions | 62 | €60,000 | €60,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,689 | €16,605 | +€916 | +5.8% |
| Other operating charges | 640/8 | €23,964 | €6,131 | -€17,833 | -74.4% |
| Gross operating margin | 9900 | €298,419 | €447,587 | +€149,168 | +50.0% |
| Operating profit (loss) | 9901 | €198,766 | €364,851 | +€166,085 | +83.6% |
| Financial income | 75/76B | €61,797 | €53,936 | -€7,860 | -12.7% |
| Recurring financial income | 75 | €61,797 | €53,936 | -€7,860 | -12.7% |
| Financial charges | 65/66B | €2,597 | €16,006 | +€13,409 | +516.4% |
| Recurring financial charges | 65 | €2,597 | €16,006 | +€13,409 | +516.4% |
| Profit (loss) for the period before taxes | 9903 | €257,966 | €402,782 | +€144,816 | +56.1% |
| Transfer from deferred taxes | 780 | €2,766 | €2,766 | = | 0.0% |
| Income taxes | 67/77 | €62,303 | €100,960 | +€38,657 | +62.0% |
| Profit (loss) for the period | 9904 | €198,429 | €304,588 | +€106,159 | +53.5% |
| Transfer from tax-exempt reserves | 789 | €6,513 | €6,513 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €204,943 | €311,102 | +€106,159 | +51.8% |
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 10 October 2026 via checked.be.