RAMZ: 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.
RAMZ
Largest movements
- Cash -€29,303
down €29,303 (-16.2%), from €181,265 to €151,962
mainly Contributions, distributions and other (-€70,000) and Receivables within one year (-€28,300)
- Receivables within one year +€28,300
up €28,300, from €0 to €28,300
- Tangible fixed assets -€13,219
down €13,219 (-41.3%), from €32,034 to €18,814
- Short-term financial debts +€39,000
up €39,000 (+768.9%), from €5,072 to €44,072
- Trade debts -€21,818
down €21,818 (-53.7%), from €40,663 to €18,845
- Other debts -€18,861
down €18,861 (-18.1%), from €104,280 to €85,419
- Debts after one year -€13,740
down €13,740 (-79.9%), from €17,199 to €3,459
- Gross operating margin -€35,677
down €35,677 (-24.6%), from €144,981 to €109,303
- Taxes -€9,161
down €9,161 (-31.6%), from €29,003 to €19,842
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 | €214,944 | €200,897 | -€14,047 | -6.5% |
| Fixed assets | 21/28 | €32,984 | €19,764 | -€13,219 | -40.1% |
| Tangible fixed assets | 22/27 | €32,034 | €18,814 | -€13,219 | -41.3% |
| Furniture and vehicles | 24 | €32,034 | €18,814 | -€13,219 | -41.3% |
| Financial fixed assets | 28 | €950 | €950 | = | 0.0% |
| Current assets | 29/58 | €181,960 | €181,132 | -€828 | -0.5% |
| Amounts receivable within one year | 40/41 | €0 | €28,300 | +€28,300 | |
| Other amounts receivable | 41 | €0 | €28,300 | +€28,300 | |
| Cash at bank and in hand | 54/58 | €181,265 | €151,962 | -€29,303 | -16.2% |
| Deferred charges and accrued income | 490/1 | €695 | €870 | +€175 | +25.2% |
| Total equity and liabilities | 10/49 | €214,944 | €200,897 | -€14,047 | -6.5% |
| Equity | 10/15 | €27,642 | €28,905 | +€1,263 | +4.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,042 | €10,305 | +€1,263 | +14.0% |
| Distributable reserves | 133 | €9,042 | €10,305 | +€1,263 | +14.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €187,302 | €171,992 | -€15,310 | -8.2% |
| Amounts payable after more than one year | 17 | €17,199 | €3,459 | -€13,740 | -79.9% |
| Financial debts | 170/4 | €17,199 | €3,459 | -€13,740 | -79.9% |
| Amounts payable within one year | 42/48 | €170,103 | €168,533 | -€1,570 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €13,587 | €13,740 | +€152 | +1.1% |
| Financial debts | 43 | €5,072 | €44,072 | +€39,000 | +768.9% |
| Credit institutions | 430/8 | €5,072 | €44,072 | +€39,000 | +768.9% |
| Trade debts | 44 | €40,663 | €18,845 | -€21,818 | -53.7% |
| Suppliers | 440/4 | €40,663 | €18,845 | -€21,818 | -53.7% |
| Taxes, remuneration and social security | 45 | €6,500 | €6,457 | -€43 | -0.7% |
| Taxes | 450/3 | €4,000 | €3,957 | -€43 | -1.1% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €104,280 | €85,419 | -€18,861 | -18.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,336 | €16,202 | -€134 | -0.8% |
| Other operating charges | 640/8 | €1,398 | €1,271 | -€127 | -9.1% |
| Gross operating margin | 9900 | €144,981 | €109,303 | -€35,677 | -24.6% |
| Operating profit (loss) | 9901 | €127,247 | €91,831 | -€35,416 | -27.8% |
| Financial income | 75/76B | - | €617 | +€617 | |
| Recurring financial income | 75 | - | €617 | +€617 | |
| Financial charges | 65/66B | €2,086 | €1,343 | -€743 | -35.6% |
| Recurring financial charges | 65 | €2,086 | €1,343 | -€743 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | €125,160 | €91,105 | -€34,056 | -27.2% |
| Income taxes | 67/77 | €29,003 | €19,842 | -€9,161 | -31.6% |
| Profit (loss) for the period | 9904 | €96,157 | €71,263 | -€24,894 | -25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €96,157 | €71,263 | -€24,894 | -25.9% |
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 7 October 2026 via checked.be.