You get an exam mark and an assessment mark. Your exam mark is what you get - that can't change based on how others go. Your assessment mark is a mark that reflects your school performance but relative to how well your cohort performed in the exam.
A 25/50 raw in the exam would probably not change much since the majority of the state will get E3 or E4. You are effectively achieving the minimum requirement had this been a school test.
With your assessment mark, what happens is the assessment mark of the student who came first will be pinned with the highest exam mark of anyone, and the vice-versa with the lowest ranked student. Now, your school marks will have a certain range, so that range of marks are either squeezed or spread across the range of the highest and lowest exam marks. Then, your assessment mark will be appropriately placed within that range. If your school mark is closer to first, then your assessment mark will be closer to the highest exam mark. If your school mark is closer to last, then your assessment mark will be closer to the lowest exam mark.