ROYALE 120
ROYALE 120 has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €31.16M and a net result of €1.58M. Equity remains stable across the filed fiscal years (±2.3% per year). Its solvency ranks better than 49% of 4440 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
| Equity | €31.16M |
| Net result | €1.58M |
| Better than sector | 49% |
| Active | 19 yrs |
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 37.4% | 38.4% | |
| Net result | €1.58M | €23k | |
| Equity | €31.16M | €918k | |
| Total assets | €83.33M | €3.36M |
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | full schema | full schema | full schema | full schema | full schema |
| Revenue | €3.73M | €3.64M | €3.51M | €847k | - |
| EBITDA | €3.57M | €3.51M | €3.33M | €693k | - |
| Net profit | €1.58M | €1.53M | €1.29M | €226k | €-35k |
| Cash flow | €3.11M | €3.13M | €3.07M | €672k | - |
| Staff costs | - | - | - | - | - |
| Income taxes | €527k | €500k | €426k | €25k | - |
| Dividends | €0 | €1.45M | €1.23M | €707k | - |
| Total assets | €83.33M | €87.83M | €57.95M | €74.70M | €1.00M |
| Equity | €31.16M | €29.59M | €31.51M | €45.05M | €976k |
| Debt | €52.16M | €58.25M | €26.44M | €29.66M | €29k |
| of which ≤ 1y | €131k | €1.49M | €1.27M | €972k | €29k |
| of which > 1y | €6k | - | - | - | - |
| Working capital | €58.68M | €60.48M | €29.22M | €44.54M | €150k |
| Employees (FTE) | - | - | - | - | - |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 449.90 | 41.54 | 24.01 | 46.83 | 6.22 |
| Quick ratio | 449.90 | 41.54 | 24.01 | 46.83 | 6.22 |
| Working capital ratio | 70.4% | 68.9% | 50.4% | 59.6% | 15.0% |
| Solvency | 37.4% | 33.7% | 54.4% | 60.3% | 97.1% |
| Debt / equity | 1.67 | 1.97 | 0.84 | 0.66 | 0.03 |
| Long-term debt ratio | 0.00 | - | - | - | - |
| Interest coverage | - | 17598.73 | 4257.84 | 689.57 | - |
| Gross margin | - | - | - | - | - |
| Net margin | 42.3% | 41.9% | 36.8% | 26.7% | - |
| ROA | 1.9% | 1.7% | 2.2% | 0.3% | -3.5% |
| ROE | 5.1% | 5.2% | 4.1% | 0.5% | -3.6% |
| EBITDA margin | 95.8% | 96.6% | 94.8% | 81.9% | - |
| Days sales outstanding | 359d | 364d | 380d | 1515d | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Full annual accounts (26 line items)
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €83.33M | €87.83M | €57.95M | €74.70M | €1.00M |
| Fixed assets | 21/28 | €24.52M | €25.86M | €27.47M | €29.19M | €825k |
| Tangible fixed assets | 22/27 | €24.52M | €25.86M | €27.47M | €29.19M | €825k |
| Financial fixed assets | 28 | €401 | €401 | €401 | €201 | €12 |
| Current assets | 29/58 | €58.81M | €61.98M | €30.49M | €45.51M | €179k |
| Stocks & contracts in progress | 3 | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year | 40/41 | €3.74M | €3.74M | €3.98M | €3.77M | €17k |
| Cash & bank | 54/58 | €6.63M | €5.10M | €4.98M | €16.55M | €161k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €83.33M | €87.83M | €57.95M | €74.70M | €1.00M |
| Equity | 10/15 | €31.16M | €29.59M | €31.51M | €45.05M | €976k |
| Contributions / capital | 10/11 | €29.00M | €29.00M | €31.00M | €44.60M | €1.10M |
| Reserves | 13 | €665k | €586k | €510k | €445k | €4k |
| Accumulated profits (losses) | 14 | €1.50M | - | - | €0 | €-129k |
| Amounts payable | 17/49 | €52.16M | €58.25M | €26.44M | €29.66M | €29k |
| Amounts payable after one year | 17 | €6k | - | - | - | - |
| Amounts payable within one year | 42/48 | €131k | €1.49M | €1.27M | €972k | €29k |
| Trade debts payable within one year | 44 | €57k | €38k | €36k | €112k | €25k |
| Income statement | ||||||
| Turnover | 70 | €3.73M | €3.64M | €3.51M | €847k | - |
| Gross operating margin | 9900 | - | - | - | - | €-35k |
| Operating result | 9901 | €2.04M | €1.91M | €1.56M | €248k | €-35k |
| Financial income | 75 | €60k | €120k | €163k | €4k | - |
| Financial charges | 65 | €691 | €989 | €782 | €1k | €396 |
| Result before taxes | 9903 | €2.11M | €2.03M | €1.72M | €251k | €-35k |
| Income taxes | 67/77 | €527k | €500k | €426k | €25k | - |
| Net result for the period | 9904 | €1.58M | €1.53M | €1.29M | €226k | €-35k |
| Result to be appropriated | 9905 | €1.58M | €1.53M | €1.29M | €226k | €-35k |
-
Axel CeustersDirectorState Gazette act 25121980 (26-09-2025)Current26-09-2025 → present
-
Laurence SimillonDirectorState Gazette act 24138129 (25-09-2024)Current08-08-2018 → present
2 events
- 25-09-2024 Appointed· Director
- 08-08-2018 Appointed· Director
-
Marc GärtnerDirectorState Gazette act 24138129 (25-09-2024)Current08-08-2018 → present
2 events
- 25-09-2024 Appointed· Director
- 08-08-2018 Appointed· Director
Historic, not recently confirmed (3)
-
Axel Hugo CeustersDirectorState Gazette act 19165328 (20-12-2019)Not recently confirmedlast confirmed in an act from 2019
-
Frédéric de SCHREVELDirectorState Gazette act 11028599 (22-02-2011)Not recently confirmedlast confirmed in an act from 2011
-
Marc CROHAINDirectorState Gazette act 11028599 (22-02-2011)Not recently confirmedlast confirmed in an act from 2011
Former directors (6)
-
Henning Schneekioth-PlögerGestion journalièreState Gazette act 20048829 (14-04-2020)Former- → 14-04-2020
-
Sabine SchmidtGestion journalièreState Gazette act 20048829 (14-04-2020)Former- → 14-04-2020
-
Philippe Albrecht Van den BroeckDirectorState Gazette act 18122973 (08-08-2018)Former08-08-2018 → 20-12-2019
2 events
- 20-12-2019 Resigned· Director
- 08-08-2018 Appointed· Director
-
Andreas Gerd KatzurDirectorState Gazette act 18122973 (08-08-2018)Former- → 08-08-2018
-
Juergen PehrischDirectorState Gazette act 18122973 (08-08-2018)Former- → 08-08-2018
| L&S Bedrijfsrevisoren BVCurrent Statutory auditor | 24-01-2020 → present |
Show 3 earlier auditors
| KPMG Bedrijfsrevisoren CVBA Statutory auditor | 07-08-2015 → 24-01-2020 |
| Marc Gärtner Statutory auditor succeeded by L&S Bedrijfsrevisoren BV in 2020 | 08-08-2018 → 24-01-2020 |
| Mazars Bedrijfsrevisoren Statutory auditor | - → 07-08-2015 |
| NACE primary | Buying and selling of own real estate(68110) |
| Legal form | Public limited company(014) |
| Incorporation | 15-06-2007 |
| Status | Active |
| Postal code | 1050 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0001/00L000 | Brussels | 1,625 m² | 1 · 1,286 m² | 33.9 m · 9 fl. |
26-08
State Gazette act
Capital & sharesGeneral meeting · Capital decrease · Capital5 facts ▸
- General meeting, 2026-08-20
- Capital decrease, €-9.000.000
- Capital, €20.000.000
- Statutes amendment
- Tax treatment, aangerekend overeenkomstig de bepalingen van de wet van 25 december 2017 inzake de hervorming van de vennootschapsbelastingen; eventueel te betalen roerend voor…
31-07
State Gazette act
Capital & sharesShare transfer1 fact ▸
- Share transfer, UIR VERWALTUNGSGESELLSCHAFT MBH → UNION INVESTMENT REAL ESTATE GMBH - Belgian Branch
Of the 27 Belgian State Gazette acts we know for this company, 2 have been read. The other 25 have not been read yet: what they contain is neither established nor disproved here.
26-08-2026 Act object · Notarial deed · General meeting · Capital decrease
- Act object: KAPITAAL, AANDELEN · ROYALE 120
- Publication: 2026-08-26 · ROYALE 120
- Filing: 2026-08-24 · ROYALE 120
- Notarial deed: 2026-08-20 · ROYALE 120
- General meeting: 2026-08-20 · ROYALE 120
- Capital decrease: after: 20000000, delta: -9000000, amount: 20000000.0, before: 29000000, method: terugbetaling aan de aandeelhouders, currency: EUR · ROYALE 120
- Capital: amount: 20000000, shares: 49728, currency: EUR · ROYALE 120
- Statute amendment: Wijziging van artikel 5 van de statuten · ROYALE 120
- Tax treatment: aangerekend overeenkomstig de bepalingen van de wet van 25 december 2017 inzake de hervorming van de vennootschapsbelastingen; eventueel te betalen roerend voorheffing of andere belastingen en taksen zullen afgetrokken worden op de aan de enige aandeelhouder te betalen bedragen · ROYALE 120
Technical details
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}31-07-2026 Act object · Share transfer · Filing representative
- Publication: 31/07/2026 · ROYALE 120
- Filing: 24/07/2026 · ROYALE 120
- Act object: Verklaring enige aandeelhouder · ROYALE 120
- Share transfer: date: 16/07/2026, description: alle aandelen van de Vennootschap · UIR VERWALTUNGSGESELLSCHAFT MBH
- Filing representative: scope: alle nodige formaliteiten door te voeren (met inbegrip van het ondertekenen van het formulier I en Il voor publicatie in het Belgisch Staatsblad) betreffende de neerlegging van deze verklaring bij de griffie van de Ondernemingsrechtbank · Clifford Chance LLP
Technical details
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}26-09-2025 2 directors appointed
- Axel Ceusters, Bestuurder
- L&S Bedrijfsrevisoren BV, Commissaris
Technical details
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}25-09-2024 2 directors appointed
- Marc Gärtner, Bestuurder
- Laurence Simillon, Bestuurder
Technical details
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}20-09-2024 Capital decrease of €2,000,000 to €29,000,000
- €31.000.000 → €29.000.000
- Inbreng in geld · Apport en numéraire
Technical details
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}13-11-2023 Registered office moved within Elsene
- Louizalaan 65, bus 11, 1050 Elsene → Silversquare te Louizalaan 54, 1050 Elsene
Technical details
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"date": "2023-10-26",
"unanimous": true
},
"subject_company": {
"kbo": "0890.094.665",
"name_full": "Royale 120",
"legal_form": "NV"
},
"publication_proxy": {
"kind": "person",
"org_kbo": "0784.605.779",
"org_name": "Eversheds Sutherland (Belgium) LLP",
"person_name": "Mieke Lecluyse",
"org_rep_person_name": "Mieke Lecluyse",
"person_role_at_subject": "legal assistant"
},
"co_filed_documents": [
"Formulier I",
"Formulier II",
"Uittreksel uit de notulen"
]
}28-07-2023 Articles of association amended
Technical details
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},
"legal_form_change": {
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}13-01-2023 Articles of association amended
Technical details
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},
"legal_form_change": {
"new": "Naamloze vennootschap",
"old": "Naamloze vennootschap",
"changed": false
}
}03-11-2022 Publication in the Belgian Official Gazette, Miscellaneous
Technical details
{
"stage": "proposal",
"notary": {
"name": "Michel Gernaij",
"firm_city": null,
"firm_name": null,
"office_city": "Brussel",
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},
"act_meta": {
"language": "nl",
"pub_date": "2022-11-03",
"filing_date": "2022-10-21",
"act_kind_objet": "Neerlegging fusievoorstel"
},
"decision": {
"body": "buitengewone_algemene_vergadering",
"act_date": "2022-10-13",
"unanimous": null
},
"conversion": null,
"detected_kind": "merger_absorption",
"report_waiver": {
"summary": "De aandeelhouders van de Overgenomen en Overnemende Vennootschap hebben afstand gedaan van het verplichte opstellen van het tussentijdse verslag, het bijzonder verslag van de raad van bestuur en het verslag over het fusievoorstel van de commissaris/bedrijfsrevisor.",
"articles": [
"12:25",
"12:26"
]
},
"restructuring": {
"parties": [
{
"kbo": "0890.094.665",
"name": "Royale 120 NV",
"role": "acquiring",
"address": "Louizalaan 65/11, 1050 Brussel",
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},
{
"kbo": "0835.951.938",
"name": "Royale 120 New Building NV",
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],
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"12:25",
"12:26"
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"balance_basis_date": "2022-09-30",
"exchange_ratio_text": "Ruilwaarde per aandeel van de Overgenomen Vennootschap / Ruilwaarde per aandeel van de Overnemende Vennootschap",
"new_shares_issued_n": null,
"real_estate_included": true,
"patrimony_description": "Alle activa en passiva van de Overgenomen Vennootschap worden overgenomen door de Overnemende Vennootschap, inclusief het onroerend goed gelegen te 1000 Brussel, Koningsstraat 120, met een erfpacht- en twee ondererfpachtrechten. De overdracht is gebaseerd op de balans per 30 september 2022.",
"equity_transferred_eur": 43500000.0,
"accounting_effective_date": "2022-10-01"
},
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"kbo": "0890.094.665",
"name_full": "ROYALE 120",
"legal_form": "NV"
},
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"org_kbo": null,
"org_name": "Clifford Chance LLP",
"person_name": "Val\u00E9rie Pauwels",
"org_rep_person_name": "Alexandre Ooms, In\u00E8s Mahaux, Val\u00E9rie Pauwels"
},
"summary_narrative": "De raad van bestuur van Royale 120 NV en Royale 120 New Building NV hebben een fusievoorstel goedgekeurd overeenkomstig artikel 12:2 juncto 12:24 van het Wetboek van Vennootschappen en Verenigingen. De fusie gaat via overname: Royale 120 NV (overnemende) neemt alle activa en passiva van Royale 120 New Building NV (overgenomen) over, inclusief een onroerend goed in Brussel met erfpacht- en ondererfpachtrechten. De overdracht is gebaseerd op de balans per 30 september 2022, met boekhoudkundige retroactiviteit vanaf 1 oktober 2022. De fusie zal beslist worden tijdens buitengewone algemene vergade",
"co_filed_documents": [
"Bijlage 1: Bodemattest van het Brussels Instituut voor Milieubeheer (BIM)"
],
"detected_real_type": "fusion_proposal",
"referenced_correction": null,
"should_reroute_to_category": null
}02-06-2022 L&S Bedrijfsrevisoren BV appointed as statutory auditor
- L&S Bedrijfsrevisoren BV, Commissaris
Technical details
{
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}13-11-2020 Articles of association amended
Technical details
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}14-04-2020 2 resigning
- Sabine Schmidt, Gestion journalière
- Henning Schneekioth-Plöger, Gestion journalière
Technical details
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}24-01-2020 1 director appointed, 1 resigning
- L&S Bedrijfsrevisoren BV, Commissaris
- KPMG Bedrijfsrevisoren CVBA, Commissaris
Technical details
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}20-12-2019 1 director appointed, 1 resigning
- Axel Hugo Ceusters, Bestuurder
- Philippe Albrecht Van den Broeck, Bestuurder
Technical details
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}
}11-10-2018 Capital increase of €100,000 to €900,000
- €800.000 → €900.000
Technical details
{
"events": [
{
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"delta_eur": 100000,
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}08-08-2018 5 directors appointed, 3 resigning
- Marc Gärtner, Bestuurder
- Marc Gärtner, Commissaris
- Laurence Simillon, Bestuurder
- Philippe Albrecht Van den Broeck, Bestuurder
- KPMG Bedrijfsrevisoren CVBA, Commissaris
- Juergen Pehrisch, Bestuurder
- Andreas Gerd Katzur, Bestuurder
- Lars Uwe Richter, Bestuurder
Technical details
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}27-11-2017 Registered office moved from Zaventem to Brussel
- Corporate Village, Building Elsinore, Da Vincilaan 9, 1935 Zaventem → Stephanie Square Centre, Louizalaan 65 bus 11, 1050 Brussel
Technical details
{
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}07-08-2015 1 director appointed, 1 resigning
- KPMG Bedrijfsrevisoren CVBA, Commissaris
- Mazars Bedrijfsrevisoren, Commissaris
Technical details
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}22-02-2011 2 directors appointed
- Marc CROHAIN, Bestuurder
- Frédéric de SCHREVEL, Bestuurder
Technical details
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}| Legal nameNL | ROYALE 120 |