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
- Receivables within one year +€320,332
up €320,332 (+12.5%), from €2.6m to €2.9m
of which Other amounts receivable: +€325,441
- Cash -€56,947
down €56,947 (-14.0%), from €407,027 to €350,080
mainly Receivables within one year (-€320,332) and Tax, wage and social debts (-€222,288)
- Trade debts +€295,464
up €295,464 (+172%), from €171,610 to €467,073
- Tax, wage and social debts -€222,288
down €222,288 (-80.3%), from €276,980 to €54,692
of which Taxes: -€220,853
- Reserves +€134,968
up €134,968 (+4.7%), from €2.9m to €3.0m
of which Distributable reserves: +€134,968
- Other debts +€36,379
up €36,379 (+268,678%), from €14 to €36,393
- Gross operating margin -€506,429
down €506,429 (-23.6%), from €2.1m to €1.6m
- Staff costs +€68,293
up €68,293 (+10.8%), from €633,873 to €702,166
- Taxes -€37,528
down €37,528 (-16.8%), from €223,795 to €186,267
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 | €3,334,089 | €3,573,167 | +€239,078 | +7.2% |
| Fixed assets | 21/28 | €340,691 | €319,303 | -€21,388 | -6.3% |
| Tangible fixed assets | 22/27 | €191,113 | €169,725 | -€21,388 | -11.2% |
| Land and buildings | 22 | €28,445 | €24,213 | -€4,231 | -14.9% |
| Plant, machinery and equipment | 23 | €89,441 | €91,372 | +€1,931 | +2.2% |
| Furniture and vehicles | 24 | €73,228 | €54,140 | -€19,088 | -26.1% |
| Financial fixed assets | 28 | €149,578 | €149,578 | = | 0.0% |
| Current assets | 29/58 | €2,993,398 | €3,253,864 | +€260,466 | +8.7% |
| Stocks and contracts in progress | 3 | €917 | €1,465 | +€548 | +59.7% |
| Stocks | 30/36 | €917 | €1,465 | +€548 | +59.7% |
| Amounts receivable within one year | 40/41 | €2,571,512 | €2,891,844 | +€320,332 | +12.5% |
| Trade receivables | 40 | €14,134 | €9,026 | -€5,109 | -36.1% |
| Other amounts receivable | 41 | €2,557,378 | €2,882,819 | +€325,441 | +12.7% |
| Cash at bank and in hand | 54/58 | €407,027 | €350,080 | -€56,947 | -14.0% |
| Deferred charges and accrued income | 490/1 | €13,942 | €10,475 | -€3,466 | -24.9% |
| Total equity and liabilities | 10/49 | €3,334,089 | €3,573,167 | +€239,078 | +7.2% |
| Equity | 10/15 | €2,874,596 | €3,009,564 | +€134,968 | +4.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,856,004 | €2,990,972 | +€134,968 | +4.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €2,854,145 | €2,989,113 | +€134,968 | +4.7% |
| Amounts payable | 17/49 | €459,494 | €563,603 | +€104,109 | +22.7% |
| Amounts payable within one year | 42/48 | €448,604 | €558,158 | +€109,554 | +24.4% |
| Trade debts | 44 | €171,610 | €467,073 | +€295,464 | +172% |
| Suppliers | 440/4 | €171,610 | €467,073 | +€295,464 | +172% |
| Taxes, remuneration and social security | 45 | €276,980 | €54,692 | -€222,288 | -80.3% |
| Taxes | 450/3 | €221,874 | €1,021 | -€220,853 | -99.5% |
| Remuneration and social security | 454/9 | €55,106 | €53,671 | -€1,435 | -2.6% |
| Other amounts payable | 47/48 | €14 | €36,393 | +€36,379 | +268,678% |
| Accrued charges and deferred income | 492/3 | €10,890 | €5,445 | -€5,445 | -50.0% |
| Remuneration, social security and pensions | 62 | €633,873 | €702,166 | +€68,293 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,654 | €64,174 | -€2,480 | -3.7% |
| Other operating charges | 640/8 | €559,993 | €546,956 | -€13,037 | -2.3% |
| Non-recurring operating charges | 66A | €8,014 | €1,013 | -€7,001 | -87.4% |
| Gross operating margin | 9900 | €2,143,783 | €1,637,354 | -€506,429 | -23.6% |
| Operating profit (loss) | 9901 | €875,249 | €323,045 | -€552,204 | -63.1% |
| Financial income | 75/76B | €401 | €0 | -€401 | -100% |
| Recurring financial income | 75 | €401 | €0 | -€401 | -100% |
| Financial charges | 65/66B | €2,146 | €1,809 | -€337 | -15.7% |
| Recurring financial charges | 65 | €2,146 | €1,809 | -€337 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €873,504 | €321,235 | -€552,269 | -63.2% |
| Income taxes | 67/77 | €223,795 | €186,267 | -€37,528 | -16.8% |
| Profit (loss) for the period | 9904 | €649,709 | €134,968 | -€514,741 | -79.2% |
| Profit (loss) for the period to be appropriated | 9905 | €649,709 | €134,968 | -€514,741 | -79.2% |
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 13 October 2026 via checked.be.