RAMUS: 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.
RAMUS
Largest movements
- Tangible fixed assets +€55,074
up €55,074 (+91.9%), from €59,935 to €115,010
of which Furniture and vehicles: +€51,309
- Receivables within one year -€35,108
down €35,108 (-58.7%), from €59,828 to €24,720
of which Other amounts receivable: -€22,602
- Cash -€11,932
down €11,932 (-20.2%), from €59,046 to €47,114
mainly Investment in fixed assets (net) (-€86,717) and Net result for the year (-€52,213)
- Stocks and contracts +€5,119
up €5,119 (+17.8%), from €28,790 to €33,909
- Profit (loss) carried forward -€52,213
down €52,213 (-34.5%), from €151,441 to €99,228
- Debts after one year +€42,174
up €42,174 (+341%), from €12,368 to €54,542
- Tax, wage and social debts +€39,761
up €39,761 (+34.7%), from €114,434 to €154,195
of which Remuneration and social security: +€43,972
- Short-term financial debts -€37,629
down €37,629 (-68.4%), from €55,000 to €17,371
- Trade debts +€20,075
up €20,075 (+20.2%), from €99,318 to €119,394
- Staff costs -€29,103
down €29,103 (-5.1%), from €568,311 to €539,208
- Gross operating margin +€12,559
up €12,559 (+2.4%), from €524,829 to €537,388
- Depreciation +€11,828
up €11,828 (+59.9%), from €19,734 to €31,563
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 | €471,654 | €483,822 | +€12,169 | +2.6% |
| Fixed assets | 21/28 | €74,056 | €129,210 | +€55,154 | +74.5% |
| Tangible fixed assets | 22/27 | €59,935 | €115,010 | +€55,074 | +91.9% |
| Plant, machinery and equipment | 23 | €22,768 | €24,661 | +€1,893 | +8.3% |
| Furniture and vehicles | 24 | €24,627 | €75,937 | +€51,309 | +208% |
| Other tangible fixed assets | 26 | €12,540 | €14,412 | +€1,872 | +14.9% |
| Financial fixed assets | 28 | €14,121 | €14,201 | +€80 | +0.6% |
| Current assets | 29/58 | €397,598 | €354,612 | -€42,986 | -10.8% |
| Amounts receivable after more than one year | 29 | €238,059 | €235,059 | -€3,000 | -1.3% |
| Other amounts receivable | 291 | €238,059 | €235,059 | -€3,000 | -1.3% |
| Stocks and contracts in progress | 3 | €28,790 | €33,909 | +€5,119 | +17.8% |
| Stocks | 30/36 | €28,790 | €33,909 | +€5,119 | +17.8% |
| Amounts receivable within one year | 40/41 | €59,828 | €24,720 | -€35,108 | -58.7% |
| Trade receivables | 40 | €26,985 | €14,479 | -€12,506 | -46.3% |
| Other amounts receivable | 41 | €32,843 | €10,242 | -€22,602 | -68.8% |
| Cash at bank and in hand | 54/58 | €59,046 | €47,114 | -€11,932 | -20.2% |
| Deferred charges and accrued income | 490/1 | €11,875 | €13,809 | +€1,934 | +16.3% |
| Total equity and liabilities | 10/49 | €471,654 | €483,822 | +€12,169 | +2.6% |
| Equity | 10/15 | €188,571 | €136,358 | -€52,213 | -27.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €30,930 | €30,930 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,930 | €30,930 | = | 0.0% |
| Reserves not available under the articles | 1311 | €930 | €930 | = | 0.0% |
| Other | 1319 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €151,441 | €99,228 | -€52,213 | -34.5% |
| Amounts payable | 17/49 | €283,083 | €347,464 | +€64,382 | +22.7% |
| Amounts payable after more than one year | 17 | €12,368 | €54,542 | +€42,174 | +341% |
| Financial debts | 170/4 | €12,368 | €54,542 | +€42,174 | +341% |
| Amounts payable within one year | 42/48 | €270,699 | €292,907 | +€22,208 | +8.2% |
| Financial debts | 43 | €55,000 | €17,371 | -€37,629 | -68.4% |
| Credit institutions | 430/8 | €55,000 | €17,371 | -€37,629 | -68.4% |
| Trade debts | 44 | €99,318 | €119,394 | +€20,075 | +20.2% |
| Suppliers | 440/4 | €99,318 | €119,394 | +€20,075 | +20.2% |
| Advances received on contracts in progress | 46 | €1,947 | €1,947 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €114,434 | €154,195 | +€39,761 | +34.7% |
| Taxes | 450/3 | €38,443 | €34,232 | -€4,210 | -11.0% |
| Remuneration and social security | 454/9 | €75,991 | €119,963 | +€43,972 | +57.9% |
| Accrued charges and deferred income | 492/3 | €16 | €15 | -€0 | -1.0% |
| Non-recurring operating income | 76A | €6,536 | €51,816 | +€45,280 | +693% |
| Remuneration, social security and pensions | 62 | €568,311 | €539,208 | -€29,103 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,734 | €31,563 | +€11,828 | +59.9% |
| Other operating charges | 640/8 | €8,680 | €7,733 | -€947 | -10.9% |
| Non-recurring operating charges | 66A | €66,237 | €1,498 | -€64,740 | -97.7% |
| Gross operating margin | 9900 | €524,829 | €537,388 | +€12,559 | +2.4% |
| Operating profit (loss) | 9901 | -€138,134 | -€42,613 | +€95,521 | +69.2% |
| Financial income | 75/76B | €32 | - | -€32 | |
| Recurring financial income | 75 | €32 | - | -€32 | |
| Financial charges | 65/66B | €13,714 | €9,343 | -€4,371 | -31.9% |
| Recurring financial charges | 65 | €13,714 | €9,343 | -€4,371 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | -€151,816 | -€51,956 | +€99,860 | +65.8% |
| Income taxes | 67/77 | -€16 | €257 | +€274 | |
| Profit (loss) for the period | 9904 | -€151,799 | -€52,213 | +€99,586 | +65.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€151,799 | -€52,213 | +€99,586 | +65.6% |
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 30 October 2026 via checked.be.