Ramudden Global: what changed
Two fiscal 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.
What changed
Ramudden Global
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€8.7m
2024 · -€8.9m+€188,305
Equity
€49.8m
2024 · €58.6m-€8.7m
Cash
€1.3m
2024 · €1.3m-€7,432
Balance sheet total
€152.3m
2024 · €164.1m-€11.8m
Largest movements
Assets
- Intangible fixed assets -€5.9m
down €5.9m (-11.1%), from €53.1m to €47.2m
- Financial fixed assets -€5.8m
down €5.8m (-5.3%), from €108.7m to €102.9m
Equity and liabilities
- Profit (loss) carried forward -€8.7m
down €8.7m (-50.3%), from -€17.4m to -€26.1m
- Debts after one year -€2.0m
down €2.0m (-1.9%), from €103.9m to €101.9m
of which Other amounts payable: -€2.0m
Income statement
- Financial charges -€1.5m
down €1.5m (-19.0%), from €8.1m to €6.6m
- Financial income -€1.2m
down €1.2m (-24.3%), from €4.9m to €3.7m
- Staff costs +€141,829
up €141,829 (+16.9%), from €838,522 to €980,351
- Taxes +€91,545
up €91,545 (+97.0%), from -€94,414 to -€2,869
- Services and other goods -€85,822
down €85,822 (-3.5%), from €2.5m to €2.4m
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.
Result 2024
-€8.9m
Turnover
+€5,605
Other operating income
-€316
Services and other goods
+€85,822
Staff costs
-€141,829
Depreciation
-€23,756
Other operating charges
+€1,270
Financial income
-€1.2m
Financial charges
+€1.5m
Taxes
-€91,545
Result 2025
-€8.7m
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.
From operations
-€3.7m
Investment
+€5.7m
Financing
-€2.0m
Cash 2024
€1.3m
From operations (derived)
-€3.7m
Net result for the year
-€8.7m
Depreciation
+€5.9m
Receivables within one year
+€258,929
Deferred charges and accrued income
-€53,855
Trade debts
-€214,537
Tax, wage and social debts
-€241,521
Other debts
-€680,996
Investment (derived)
+€5.7m
Investment in fixed assets (net)
+€5.7m
Financing
-€2.0m
Debts after one year
-€2.0m
Short-term financial debts
+€21,418
Cash 2025
€1.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €164,090,050 | €152,251,805 | -€11.8m | -7.2% |
| Fixed assets | 21/28 | €161,806,608 | €150,180,868 | -€11.6m | -7.2% |
| Intangible fixed assets | 21 | €53,055,907 | €47,172,433 | -€5.9m | -11.1% |
| Tangible fixed assets | 22/27 | €35,382 | €92,454 | +€57,073 | +161.3% |
| Plant, machinery and equipment | 23 | €31,959 | €90,394 | +€58,435 | +182.8% |
| Furniture and vehicles | 24 | €3,423 | €2,061 | -€1,362 | -39.8% |
| Financial fixed assets | 28 | €108,715,319 | €102,915,981 | -€5.8m | -5.3% |
| Affiliated companies | 280/1 | €108,715,319 | €102,915,981 | -€5.8m | -5.3% |
| Participating interests | 280 | €45,068,001 | €45,068,001 | = | 0.0% |
| Amounts receivable | 281 | €63,647,318 | €57,847,980 | -€5.8m | -9.1% |
| Current assets | 29/58 | €2,283,442 | €2,070,936 | -€212,506 | -9.3% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €963,036 | €704,108 | -€258,929 | -26.9% |
| Trade receivables | 40 | €963,036 | €654,134 | -€308,903 | -32.1% |
| Other amounts receivable | 41 | - | €49,974 | +€49,974 | |
| Cash at bank and in hand | 54/58 | €1,284,466 | €1,277,034 | -€7,432 | -0.6% |
| Deferred charges and accrued income | 490/1 | €35,940 | €89,794 | +€53,855 | +149.8% |
| Total equity and liabilities | 10/49 | €164,090,050 | €152,251,805 | -€11.8m | -7.2% |
| Equity | 10/15 | €58,565,312 | €49,842,704 | -€8.7m | -14.9% |
| Contributions | 10/11 | €75,922,785 | €75,922,785 | = | 0.0% |
| Capital | 10 | €75,922,785 | €75,922,785 | = | 0.0% |
| Issued capital | 100 | €75,922,785 | €75,922,785 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,357,474 | -€26,080,082 | -€8.7m | -50.3% |
| Amounts payable | 17/49 | €105,524,738 | €102,409,101 | -€3.1m | -3.0% |
| Amounts payable after more than one year | 17 | €103,850,000 | €101,850,000 | -€2.0m | -1.9% |
| Financial debts | 170/4 | €0 | - | = | |
| Other loans | 174 | €0 | - | = | |
| Other amounts payable | 178/9 | €103,850,000 | €101,850,000 | -€2.0m | -1.9% |
| Amounts payable within one year | 42/48 | €1,674,738 | €559,101 | -€1.1m | -66.6% |
| Financial debts | 43 | €36,823 | €58,240 | +€21,418 | +58.2% |
| Credit institutions | 430/8 | €36,823 | €58,240 | +€21,418 | +58.2% |
| Trade debts | 44 | €518,607 | €304,069 | -€214,537 | -41.4% |
| Suppliers | 440/4 | €518,607 | €304,069 | -€214,537 | -41.4% |
| Taxes, remuneration and social security | 45 | €438,313 | €196,792 | -€241,521 | -55.1% |
| Taxes | 450/3 | €336,016 | €39,692 | -€296,324 | -88.2% |
| Remuneration and social security | 454/9 | €102,296 | €157,099 | +€54,803 | +53.6% |
| Other amounts payable | 47/48 | €680,996 | €0 | -€680,996 | -100.0% |
| Operating income | 70/76A | €3,431,303 | €3,436,592 | +€5,289 | +0.2% |
| Turnover | 70 | €3,425,962 | €3,431,567 | +€5,605 | +0.2% |
| Other operating income | 74 | €5,340 | €5,024 | -€316 | -5.9% |
| Operating charges | 60/66A | €9,231,383 | €9,309,875 | +€78,492 | +0.9% |
| Services and other goods | 61 | €2,475,066 | €2,389,244 | -€85,822 | -3.5% |
| Remuneration, social security and pensions | 62 | €838,522 | €980,351 | +€141,829 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,908,755 | €5,932,511 | +€23,756 | +0.4% |
| Other operating charges | 640/8 | €9,040 | €7,770 | -€1,270 | -14.1% |
| Operating profit (loss) | 9901 | -€5,800,080 | -€5,873,283 | -€73,203 | -1.3% |
| Financial income | 75/76B | €4,887,609 | €3,701,518 | -€1.2m | -24.3% |
| Recurring financial income | 75 | €4,887,609 | €3,701,518 | -€1.2m | -24.3% |
| Income from current assets | 751 | €4,886,602 | €3,700,661 | -€1.2m | -24.3% |
| Other financial income | 752/9 | €1,008 | €857 | -€151 | -14.9% |
| Financial charges | 65/66B | €8,092,856 | €6,553,712 | -€1.5m | -19.0% |
| Recurring financial charges | 65 | €8,092,856 | €6,553,712 | -€1.5m | -19.0% |
| Debt charges | 650 | €8,091,676 | €6,553,232 | -€1.5m | -19.0% |
| Other financial charges | 652/9 | €1,180 | €481 | -€699 | -59.2% |
| Profit (loss) for the period before taxes | 9903 | -€9,005,327 | -€8,725,477 | +€279,850 | +3.1% |
| Income taxes | 67/77 | -€94,414 | -€2,869 | +€91,545 | +97.0% |
| Taxes | 670/3 | €30,545 | €1,751 | -€28,793 | -94.3% |
| Tax adjustments and reversals of tax provisions | 77 | €124,959 | €4,621 | -€120,338 | -96.3% |
| Profit (loss) for the period | 9904 | -€8,910,913 | -€8,722,608 | +€188,305 | +2.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,910,913 | -€8,722,608 | +€188,305 | +2.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.