IMMO ROYENNE: what changed
Two fiscal 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.
What changed
IMMO ROYENNE
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.4m
2024 · €1.2m+€2.2m
Equity
€6.1m
2024 · €2.7m+€3.4m
Cash
€267,415
2024 · €511,922-€244,507
Balance sheet total
€15.9m
2024 · €13.1m+€2.8m
Largest movements
Assets
- Tangible fixed assets +€1.4m
up €1.4m (+33.8%), from €4.1m to €5.4m
of which Land and buildings: +€1.5m
- Deferred charges and accrued income +€1.0m
new in 2025: €1.0m
- Current investments +€600,337
up €600,337 (+66.7%), from €900,000 to €1.5m
- Cash -€244,507
down €244,507 (-47.8%), from €511,922 to €267,415
mainly Investment in fixed assets (net) (-€1.7m) and Deferred charges and accrued income (-€1.0m)
Equity and liabilities
- Reserves +€3.4m
up €3.4m (+155.5%), from €2.2m to €5.6m
of which Distributable reserves: +€3.4m
- Debts after one year -€423,328
down €423,328 (-14.3%), from €3.0m to €2.5m
- Other debts -€200,000
down €200,000 (-3.0%), from €6.8m to €6.6m
Income statement
- Financial income +€2.2m
up €2.2m (+213.2%), from €1.0m to €3.2m
- Turnover -€820,289
no longer reported in 2025 (was €820,289)
- Gross operating margin +€730,293
new in 2025: €730,293
- Services and other goods -€89,166
no longer reported in 2025 (was €89,166)
- Other operating charges +€10,720
up €10,720 (+14.1%), from €76,087 to €86,807
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.
Result 2024
€1.2m
Turnover
-€820,289
Services and other goods
+€89,166
Depreciation
-€1,095
Other operating charges
-€10,720
Other operating items
+€730,293
Financial income
+€2.2m
Financial charges
+€5,488
Taxes
+€5,937
Result 2025
€3.4m
Cash bridge derived
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.
From operations
+€2.4m
Investment
-€2.3m
Financing
-€423,328
Cash 2024
€511,922
From operations (derived)
+€2.4m
Net result for the year
+€3.4m
Depreciation
+€284,262
Smaller working-capital items
+€17,530
Deferred charges and accrued income
-€1.0m
Provisions
-€9,111
Other debts
-€200,000
Investment (derived)
-€2.3m
Investment in fixed assets (net)
-€1.7m
Current investments
-€600,337
Financing
-€423,328
Debts after one year
-€423,328
Cash 2025
€267,415
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,114,835 | €15,881,427 | +€2.8m | +21.1% |
| Fixed assets | 21/28 | €11,567,314 | €12,941,659 | +€1.4m | +11.9% |
| Tangible fixed assets | 22/27 | €4,067,314 | €5,441,659 | +€1.4m | +33.8% |
| Land and buildings | 22 | €3,297,085 | €4,757,811 | +€1.5m | +44.3% |
| Plant, machinery and equipment | 23 | €770,229 | €673,248 | -€96,981 | -12.6% |
| Assets under construction and advance payments | 27 | - | €10,600 | +€10,600 | |
| Financial fixed assets | 28 | €7,500,000 | €7,500,000 | = | 0.0% |
| Affiliated companies | 280/1 | €7,500,000 | - | -€7.5m | |
| Participating interests | 280 | €7,500,000 | - | -€7.5m | |
| Current assets | 29/58 | €1,547,521 | €2,939,767 | +€1.4m | +90.0% |
| Amounts receivable within one year | 40/41 | €135,599 | €130,398 | -€5,201 | -3.8% |
| Trade receivables | 40 | - | €67,923 | +€67,923 | |
| Other amounts receivable | 41 | €135,599 | €62,475 | -€73,125 | -53.9% |
| Current investments | 50/53 | €900,000 | €1,500,337 | +€600,337 | +66.7% |
| Other investments | 51/53 | €900,000 | - | -€900,000 | |
| Cash at bank and in hand | 54/58 | €511,922 | €267,415 | -€244,507 | -47.8% |
| Deferred charges and accrued income | 490/1 | - | €1,041,618 | +€1.0m | |
| Total equity and liabilities | 10/49 | €13,114,835 | €15,881,427 | +€2.8m | +21.1% |
| Equity | 10/15 | €2,740,057 | €6,126,759 | +€3.4m | +123.6% |
| Contributions | 10/11 | €240,200 | €240,200 | = | 0.0% |
| Reserves | 13 | €2,177,850 | €5,564,552 | +€3.4m | +155.5% |
| Tax-exempt reserves | 132 | €453,258 | €425,926 | -€27,332 | -6.0% |
| Distributable reserves | 133 | €1,724,592 | €5,138,626 | +€3.4m | +198.0% |
| Investment grants | 15 | €322,007 | €322,007 | = | 0.0% |
| Provisions and deferred taxes | 16 | €151,086 | €141,975 | -€9,111 | -6.0% |
| Deferred taxes | 168 | €151,086 | €141,975 | -€9,111 | -6.0% |
| Amounts payable | 17/49 | €10,223,692 | €9,612,693 | -€610,999 | -6.0% |
| Amounts payable after more than one year | 17 | €2,960,578 | €2,537,250 | -€423,328 | -14.3% |
| Financial debts | 170/4 | €2,960,578 | €2,537,250 | -€423,328 | -14.3% |
| Credit institutions | 173 | €2,960,578 | - | -€3.0m | |
| Amounts payable within one year | 42/48 | €7,263,114 | €7,075,443 | -€187,671 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €436,522 | €436,522 | = | 0.0% |
| Trade debts | 44 | €10,582 | €17,693 | +€7,111 | +67.2% |
| Suppliers | 440/4 | €10,582 | €17,693 | +€7,111 | +67.2% |
| Advances received on contracts in progress | 46 | €65 | - | -€65 | |
| Taxes, remuneration and social security | 45 | €64,028 | €69,311 | +€5,283 | +8.3% |
| Taxes | 450/3 | €64,028 | €69,311 | +€5,283 | +8.3% |
| Other amounts payable | 47/48 | €6,751,917 | €6,551,917 | -€200,000 | -3.0% |
| Operating income | 70/76A | €820,289 | - | -€820,289 | |
| Turnover | 70 | €820,289 | - | -€820,289 | |
| Operating charges | 60/66A | €448,420 | - | -€448,420 | |
| Services and other goods | 61 | €89,166 | - | -€89,166 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €283,167 | €284,262 | +€1,095 | +0.4% |
| Other operating charges | 640/8 | €76,087 | €86,807 | +€10,720 | +14.1% |
| Gross operating margin | 9900 | - | €730,293 | +€730,293 | |
| Operating profit (loss) | 9901 | €371,869 | €359,224 | -€12,645 | -3.4% |
| Financial income | 75/76B | €1,010,333 | €3,164,427 | +€2.2m | +213.2% |
| Recurring financial income | 75 | €1,010,333 | €3,164,427 | +€2.2m | +213.2% |
| Income from financial fixed assets | 750 | €982,556 | - | -€982,556 | |
| Other financial income | 752/9 | €27,777 | - | -€27,777 | |
| Financial charges | 65/66B | €61,120 | €55,632 | -€5,488 | -9.0% |
| Recurring financial charges | 65 | €61,120 | €55,632 | -€5,488 | -9.0% |
| Debt charges | 650 | €60,280 | - | -€60,280 | |
| Other financial charges | 652/9 | €840 | - | -€840 | |
| Profit (loss) for the period before taxes | 9903 | €1,321,083 | €3,468,019 | +€2.1m | +162.5% |
| Transfer from deferred taxes | 780 | €9,111 | €9,111 | = | 0.0% |
| Income taxes | 67/77 | €96,364 | €90,427 | -€5,937 | -6.2% |
| Taxes | 670/3 | €96,454 | - | -€96,454 | |
| Tax adjustments and reversals of tax provisions | 77 | €89 | - | -€89 | |
| Profit (loss) for the period | 9904 | €1,233,829 | €3,386,702 | +€2.2m | +174.5% |
| Transfer from tax-exempt reserves | 789 | €27,332 | €27,332 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,261,161 | €3,414,034 | +€2.2m | +170.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.