SHAH RAMLI: 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.
SHAH RAMLI
Largest movements
- Receivables within one year +€88,739
up €88,739 (+457%), from €19,427 to €108,166
of which Trade receivables: +€69,666
- Tangible fixed assets +€75,310
up €75,310 (+144%), from €52,275 to €127,585
of which Land and buildings: +€88,597
- Deferred charges and accrued income -€22,506
no longer reported in 2025 (was €22,506)
- Cash -€17,353
down €17,353 (-15.0%), from €115,825 to €98,472
mainly Investment in fixed assets (net) (-€90,810) and Receivables within one year (-€88,739)
- Trade debts +€124,919
up €124,919 (+4,358%), from €2,867 to €127,786
- Profit (loss) carried forward +€19,927
up €19,927, from -€14,539 to €5,388
- Other debts -€14,476
down €14,476 (-37.9%), from €38,154 to €23,678
- Debts after one year -€10,231
no longer reported in 2025 (was €10,231)
- Tax, wage and social debts +€3,946
up €3,946 (+93.7%), from €4,211 to €8,157
- Gross operating margin +€48,330
up €48,330, from -€3,570 to €44,760
- Depreciation +€8,612
up €8,612 (+125%), from €6,888 to €15,500
- Taxes +€4,546
up €4,546 (+3,041%), from €149 to €4,695
- Financial charges +€2,164
up €2,164 (+602%), from €360 to €2,523
- Other operating charges -€1,393
down €1,393 (-39.0%), from €3,572 to €2,179
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 | €210,033 | €334,223 | +€124,190 | +59.1% |
| Fixed assets | 21/28 | €52,275 | €127,585 | +€75,310 | +144% |
| Tangible fixed assets | 22/27 | €52,275 | €127,585 | +€75,310 | +144% |
| Land and buildings | 22 | - | €88,597 | +€88,597 | |
| Furniture and vehicles | 24 | €52,275 | €38,987 | -€13,287 | -25.4% |
| Current assets | 29/58 | €157,758 | €206,638 | +€48,880 | +31.0% |
| Amounts receivable within one year | 40/41 | €19,427 | €108,166 | +€88,739 | +457% |
| Trade receivables | 40 | €18,000 | €87,666 | +€69,666 | +387% |
| Other amounts receivable | 41 | €1,427 | €20,500 | +€19,073 | +1,337% |
| Cash at bank and in hand | 54/58 | €115,825 | €98,472 | -€17,353 | -15.0% |
| Deferred charges and accrued income | 490/1 | €22,506 | - | -€22,506 | |
| Total equity and liabilities | 10/49 | €210,033 | €334,223 | +€124,190 | +59.1% |
| Equity | 10/15 | €28,836 | €48,763 | +€19,927 | +69.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €37,175 | €37,175 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €35,315 | €35,315 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,539 | €5,388 | +€19,927 | |
| Amounts payable | 17/49 | €181,197 | €285,460 | +€104,263 | +57.5% |
| Amounts payable after more than one year | 17 | €10,231 | - | -€10,231 | |
| Financial debts | 170/4 | €10,231 | - | -€10,231 | |
| Amounts payable within one year | 42/48 | €170,966 | €285,460 | +€114,494 | +67.0% |
| Current portion of amounts payable after more than one year | 42 | €9,769 | €10,231 | +€462 | +4.7% |
| Financial debts | 43 | €2,265 | €1,908 | -€357 | -15.8% |
| Credit institutions | 430/8 | €2,265 | - | -€2,265 | |
| Other loans | 439 | - | €1,908 | +€1,908 | |
| Trade debts | 44 | €2,867 | €127,786 | +€124,919 | +4,358% |
| Suppliers | 440/4 | €2,867 | €127,786 | +€124,919 | +4,358% |
| Advances received on contracts in progress | 46 | €113,700 | €113,700 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,211 | €8,157 | +€3,946 | +93.7% |
| Taxes | 450/3 | €4,211 | €8,157 | +€3,946 | +93.7% |
| Other amounts payable | 47/48 | €38,154 | €23,678 | -€14,476 | -37.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,888 | €15,500 | +€8,612 | +125% |
| Other operating charges | 640/8 | €3,572 | €2,179 | -€1,393 | -39.0% |
| Gross operating margin | 9900 | -€3,570 | €44,760 | +€48,330 | |
| Operating profit (loss) | 9901 | -€14,030 | €27,081 | +€41,110 | |
| Financial income | 75/76B | - | €65 | +€65 | |
| Recurring financial income | 75 | - | €65 | +€65 | |
| Financial charges | 65/66B | €360 | €2,523 | +€2,164 | +602% |
| Recurring financial charges | 65 | €360 | €2,523 | +€2,164 | +602% |
| Profit (loss) for the period before taxes | 9903 | -€14,389 | €24,622 | +€39,012 | |
| Income taxes | 67/77 | €149 | €4,695 | +€4,546 | +3,041% |
| Profit (loss) for the period | 9904 | -€14,539 | €19,927 | +€34,466 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,539 | €19,927 | +€34,466 |
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.