RATM: 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.
RATM
Largest movements
- Tangible fixed assets +€19,380
up €19,380 (+59.4%), from €32,607 to €51,987
of which Other tangible fixed assets: +€24,097
- Cash +€12,018
up €12,018 (+14.0%), from €85,916 to €97,934
mainly Net result for the year (+€27,745) and Depreciation (+€8,040)
- Receivables within one year -€2,951
down €2,951 (-43.2%), from €6,833 to €3,882
- Profit (loss) carried forward +€27,745
up €27,745, from €0 to €27,745
- Taxes +€11,534
up €11,534, from -€1,529 to €10,005
- Gross operating margin -€6,734
down €6,734 (-12.3%), from €54,649 to €47,915
- Depreciation +€1,977
up €1,977 (+32.6%), from €6,063 to €8,040
- Financial charges -€1,101
down €1,101 (-44.9%), from €2,453 to €1,352
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 | €141,836 | €168,960 | +€27,125 | +19.1% |
| Fixed assets | 21/28 | €47,042 | €66,422 | +€19,380 | +41.2% |
| Tangible fixed assets | 22/27 | €32,607 | €51,987 | +€19,380 | +59.4% |
| Plant, machinery and equipment | 23 | €2,677 | €2,081 | -€596 | -22.3% |
| Furniture and vehicles | 24 | €15,650 | €11,528 | -€4,122 | -26.3% |
| Other tangible fixed assets | 26 | €14,281 | €38,378 | +€24,097 | +168.7% |
| Financial fixed assets | 28 | €14,435 | €14,435 | = | 0.0% |
| Current assets | 29/58 | €94,793 | €102,539 | +€7,745 | +8.2% |
| Amounts receivable within one year | 40/41 | €6,833 | €3,882 | -€2,951 | -43.2% |
| Other amounts receivable | 41 | €6,833 | €3,882 | -€2,951 | -43.2% |
| Cash at bank and in hand | 54/58 | €85,916 | €97,934 | +€12,018 | +14.0% |
| Deferred charges and accrued income | 490/1 | €2,044 | €722 | -€1,322 | -64.7% |
| Total equity and liabilities | 10/49 | €141,836 | €168,960 | +€27,125 | +19.1% |
| Equity | 10/15 | €136,288 | €164,033 | +€27,745 | +20.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €134,288 | €134,288 | = | 0.0% |
| Distributable reserves | 133 | €134,288 | €134,288 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €27,745 | +€27,745 | |
| Amounts payable | 17/49 | €5,547 | €4,927 | -€620 | -11.2% |
| Amounts payable within one year | 42/48 | €5,547 | €4,927 | -€620 | -11.2% |
| Financial debts | 43 | €1,312 | €988 | -€324 | -24.7% |
| Credit institutions | 430/8 | €1,312 | €988 | -€324 | -24.7% |
| Trade debts | 44 | €4,011 | €3,704 | -€307 | -7.7% |
| Suppliers | 440/4 | €4,011 | €3,704 | -€307 | -7.7% |
| Taxes, remuneration and social security | 45 | €0 | €189 | +€189 | |
| Taxes | 450/3 | €0 | €189 | +€189 | |
| Other amounts payable | 47/48 | €224 | €46 | -€178 | -79.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,063 | €8,040 | +€1,977 | +32.6% |
| Other operating charges | 640/8 | €791 | €773 | -€18 | -2.2% |
| Gross operating margin | 9900 | €54,649 | €47,915 | -€6,734 | -12.3% |
| Operating profit (loss) | 9901 | €47,796 | €39,102 | -€8,694 | -18.2% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €2,453 | €1,352 | -€1,101 | -44.9% |
| Recurring financial charges | 65 | €2,453 | €1,352 | -€1,101 | -44.9% |
| Profit (loss) for the period before taxes | 9903 | €45,343 | €37,750 | -€7,593 | -16.7% |
| Income taxes | 67/77 | -€1,529 | €10,005 | +€11,534 | |
| Profit (loss) for the period | 9904 | €46,873 | €27,745 | -€19,128 | -40.8% |
| Profit (loss) for the period to be appropriated | 9905 | €46,873 | €27,745 | -€19,128 | -40.8% |
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 3 October 2026 via checked.be.