CASA REALE: 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.
CASA REALE
Largest movements
- Current investments -€150,000
down €150,000 (-47.5%), from €315,500 to €165,500
- Cash -€39,898
down €39,898 (-22.2%), from €179,750 to €139,852
mainly Contributions, distributions and other (-€294,118) and Tax, wage and social debts (-€25,364)
- Receivables within one year -€38,029
down €38,029 (-95.1%), from €39,976 to €1,947
of which Other amounts receivable: -€35,996
- Reserves -€189,801
down €189,801 (-39.1%), from €485,846 to €296,046
- Tax, wage and social debts -€25,364
down €25,364 (-39.9%), from €63,642 to €38,278
of which Taxes: -€24,917
- Trade debts -€11,244
down €11,244 (-98.9%), from €11,368 to €124
- Other debts -€7,478
down €7,478 (-98.7%), from €7,579 to €101
- Staff costs +€64,632
up €64,632 (+40.8%), from €158,229 to €222,860
- Gross operating margin +€28,010
up €28,010 (+8.1%), from €344,642 to €372,652
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 | €574,832 | €340,821 | -€234,011 | -40.7% |
| Fixed assets | 21/28 | €35,658 | €30,610 | -€5,048 | -14.2% |
| Tangible fixed assets | 22/27 | €24,558 | €19,510 | -€5,048 | -20.6% |
| Plant, machinery and equipment | 23 | €12,963 | €9,930 | -€3,033 | -23.4% |
| Furniture and vehicles | 24 | €4,706 | €3,675 | -€1,031 | -21.9% |
| Other tangible fixed assets | 26 | €6,889 | €5,905 | -€984 | -14.3% |
| Financial fixed assets | 28 | €11,100 | €11,100 | = | 0.0% |
| Current assets | 29/58 | €539,174 | €310,211 | -€228,963 | -42.5% |
| Stocks and contracts in progress | 3 | €909 | €909 | = | 0.0% |
| Stocks | 30/36 | €909 | €909 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €39,976 | €1,947 | -€38,029 | -95.1% |
| Trade receivables | 40 | €2,849 | €816 | -€2,033 | -71.4% |
| Other amounts receivable | 41 | €37,127 | €1,131 | -€35,996 | -97.0% |
| Current investments | 50/53 | €315,500 | €165,500 | -€150,000 | -47.5% |
| Cash at bank and in hand | 54/58 | €179,750 | €139,852 | -€39,898 | -22.2% |
| Deferred charges and accrued income | 490/1 | €3,040 | €2,004 | -€1,036 | -34.1% |
| Total equity and liabilities | 10/49 | €574,832 | €340,821 | -€234,011 | -40.7% |
| Equity | 10/15 | €490,846 | €301,046 | -€189,801 | -38.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €485,846 | €296,046 | -€189,801 | -39.1% |
| Distributable reserves | 133 | €485,846 | €296,046 | -€189,801 | -39.1% |
| Amounts payable | 17/49 | €83,986 | €39,776 | -€44,210 | -52.6% |
| Amounts payable within one year | 42/48 | €82,589 | €38,504 | -€44,086 | -53.4% |
| Trade debts | 44 | €11,368 | €124 | -€11,244 | -98.9% |
| Suppliers | 440/4 | €11,368 | €124 | -€11,244 | -98.9% |
| Taxes, remuneration and social security | 45 | €63,642 | €38,278 | -€25,364 | -39.9% |
| Taxes | 450/3 | €50,844 | €25,927 | -€24,917 | -49.0% |
| Remuneration and social security | 454/9 | €12,798 | €12,351 | -€447 | -3.5% |
| Other amounts payable | 47/48 | €7,579 | €101 | -€7,478 | -98.7% |
| Accrued charges and deferred income | 492/3 | €1,396 | €1,272 | -€125 | -8.9% |
| Remuneration, social security and pensions | 62 | €158,229 | €222,860 | +€64,632 | +40.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,978 | €8,167 | +€1,190 | +17.1% |
| Other operating charges | 640/8 | €2,316 | €2,125 | -€191 | -8.2% |
| Gross operating margin | 9900 | €344,642 | €372,652 | +€28,010 | +8.1% |
| Operating profit (loss) | 9901 | €177,120 | €139,499 | -€37,621 | -21.2% |
| Financial income | 75/76B | €10,077 | €9,350 | -€727 | -7.2% |
| Recurring financial income | 75 | €10,077 | €9,350 | -€727 | -7.2% |
| Financial charges | 65/66B | €6,189 | €8,407 | +€2,218 | +35.8% |
| Recurring financial charges | 65 | €6,189 | €8,407 | +€2,218 | +35.8% |
| Profit (loss) for the period before taxes | 9903 | €181,008 | €140,442 | -€40,565 | -22.4% |
| Income taxes | 67/77 | €39,205 | €36,126 | -€3,079 | -7.9% |
| Profit (loss) for the period | 9904 | €141,803 | €104,317 | -€37,486 | -26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €141,803 | €104,317 | -€37,486 | -26.4% |
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 24 October 2026 via checked.be.