HAPPY ROYAL: 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.
HAPPY ROYAL
Largest movements
- Tangible fixed assets -€4,809
down €4,809 (-48.9%), from €9,826 to €5,017
- Receivables within one year -€1,076
down €1,076 (-94.3%), from €1,141 to €65
of which Other amounts receivable: -€626
- Profit (loss) carried forward -€5,895
down €5,895 (-39.9%), from -€14,767 to -€20,662
- Trade debts -€544
down €544 (-85.1%), from €639 to €95
- Other debts +€460
new in 2025: €460
- Purchases and services -€4,376
no longer reported in 2025 (was €4,376)
- Gross operating margin +€3,427
up €3,427 (+78.5%), from -€4,365 to -€938
- Write-downs -€3,238
no longer reported in 2025 (was €3,238)
- Depreciation +€503
up €503 (+11.7%), from €4,306 to €4,809
- Financial charges -€358
no longer reported in 2025 (was €358)
of which Financial charges: -€358
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,967 | €5,082 | -€5,885 | -53.7% |
| Fixed assets | 21/28 | €9,826 | €5,017 | -€4,809 | -48.9% |
| Tangible fixed assets | 22/27 | €9,826 | €5,017 | -€4,809 | -48.9% |
| Plant, machinery and equipment | 23 | €9,826 | €5,017 | -€4,809 | -48.9% |
| Current assets | 29/58 | €1,141 | €65 | -€1,076 | -94.3% |
| Amounts receivable within one year | 40/41 | €1,141 | €65 | -€1,076 | -94.3% |
| Trade receivables | 40 | €450 | - | -€450 | |
| Other amounts receivable | 41 | €691 | €65 | -€626 | -90.6% |
| Total equity and liabilities | 10/49 | €10,967 | €5,082 | -€5,885 | -53.7% |
| Equity | 10/15 | €10,233 | €4,338 | -€5,895 | -57.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,767 | -€20,662 | -€5,895 | -39.9% |
| Amounts payable | 17/49 | €734 | €744 | +€10 | +1.4% |
| Amounts payable within one year | 42/48 | €734 | €744 | +€10 | +1.4% |
| Trade debts | 44 | €639 | €95 | -€544 | -85.1% |
| Suppliers | 440/4 | €639 | €95 | -€544 | -85.1% |
| Taxes, remuneration and social security | 45 | €95 | €189 | +€94 | +98.9% |
| Taxes | 450/3 | €95 | €189 | +€94 | +98.9% |
| Other amounts payable | 47/48 | - | €460 | +€460 | |
| Non-recurring operating income | 76A | €11 | - | -€11 | |
| Goods, raw materials, services and sundry goods | 60/61 | €4,376 | - | -€4,376 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,306 | €4,809 | +€503 | +11.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,238 | - | -€3,238 | |
| Other operating charges | 640/8 | - | €148 | +€148 | |
| Gross operating margin | 9900 | -€4,365 | -€938 | +€3,427 | +78.5% |
| Operating profit (loss) | 9901 | -€11,909 | -€5,895 | +€6,014 | +50.5% |
| Financial charges | 65/66B | €358 | - | -€358 | |
| Recurring financial charges | 65 | €358 | - | -€358 | |
| Non-recurring financial charges | 66B | €358 | - | -€358 | |
| Profit (loss) for the period before taxes | 9903 | -€12,267 | -€5,895 | +€6,372 | +51.9% |
| Profit (loss) for the period | 9904 | -€12,267 | -€5,895 | +€6,372 | +51.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,267 | -€5,895 | +€6,372 | +51.9% |
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 31 October 2026 via checked.be.