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.
ROYAL
Largest movements
- Tangible fixed assets -€13,145
down €13,145 (-31.6%), from €41,545 to €28,401
of which Furniture and vehicles: -€12,905
- Cash -€5,161
down €5,161 (-26.7%), from €19,361 to €14,200
mainly Net result for the year (-€24,212) and Debts after one year (-€7,891)
- Stocks and contracts -€2,956
down €2,956 (-27.7%), from €10,655 to €7,699
- Profit (loss) carried forward -€24,212
down €24,212 (-45.6%), from -€53,133 to -€77,345
- Trade debts +€10,943
up €10,943 (+190.3%), from €5,751 to €16,694
- Debts after one year -€7,891
down €7,891 (-14.8%), from €53,463 to €45,572
- Tax, wage and social debts -€1,921
down €1,921 (-24.8%), from €7,742 to €5,822
of which Remuneration and social security: -€1,646
- Short-term financial debts +€871
up €871 (+3.7%), from €23,836 to €24,707
- Other operating charges -€8,474
down €8,474 (-75.3%), from €11,260 to €2,785
- Gross operating margin -€6,955
down €6,955 (-58.9%), from €11,816 to €4,861
- Staff costs -€3,138
down €3,138 (-32.5%), from €9,656 to €6,518
- Depreciation +€1,886
up €1,886 (+16.7%), from €11,259 to €13,145
- Financial charges -€594
down €594 (-8.4%), from €7,078 to €6,484
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,304 | €52,009 | -€21,295 | -29.1% |
| Fixed assets | 21/28 | €41,546 | €28,401 | -€13,145 | -31.6% |
| Intangible fixed assets | 21 | €0 | €0 | -€0 | -66.7% |
| Tangible fixed assets | 22/27 | €41,545 | €28,401 | -€13,145 | -31.6% |
| Plant, machinery and equipment | 23 | €609 | €369 | -€240 | -39.4% |
| Furniture and vehicles | 24 | €40,936 | €28,032 | -€12,905 | -31.5% |
| Current assets | 29/58 | €31,758 | €23,608 | -€8,150 | -25.7% |
| Stocks and contracts in progress | 3 | €10,655 | €7,699 | -€2,956 | -27.7% |
| Stocks | 30/36 | €10,655 | €7,699 | -€2,956 | -27.7% |
| Amounts receivable within one year | 40/41 | €1,742 | €1,708 | -€34 | -1.9% |
| Trade receivables | 40 | €1,742 | €1,539 | -€203 | -11.6% |
| Other amounts receivable | 41 | - | €169 | +€169 | |
| Cash at bank and in hand | 54/58 | €19,361 | €14,200 | -€5,161 | -26.7% |
| Total equity and liabilities | 10/49 | €73,304 | €52,009 | -€21,295 | -29.1% |
| Equity | 10/15 | -€53,133 | -€77,345 | -€24,212 | -45.6% |
| Profit (loss) carried forward | 14 | -€53,133 | -€77,345 | -€24,212 | -45.6% |
| Amounts payable | 17/49 | €126,437 | €129,354 | +€2,917 | +2.3% |
| Amounts payable after more than one year | 17 | €53,463 | €45,572 | -€7,891 | -14.8% |
| Financial debts | 170/4 | €53,463 | €45,572 | -€7,891 | -14.8% |
| Amounts payable within one year | 42/48 | €72,974 | €83,782 | +€10,808 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €17,676 | €17,987 | +€311 | +1.8% |
| Financial debts | 43 | €23,836 | €24,707 | +€871 | +3.7% |
| Credit institutions | 430/8 | €23,836 | €24,707 | +€871 | +3.7% |
| Trade debts | 44 | €5,751 | €16,694 | +€10,943 | +190.3% |
| Suppliers | 440/4 | €5,751 | €16,694 | +€10,943 | +190.3% |
| Taxes, remuneration and social security | 45 | €7,742 | €5,822 | -€1,921 | -24.8% |
| Taxes | 450/3 | €4,398 | €4,124 | -€274 | -6.2% |
| Remuneration and social security | 454/9 | €3,344 | €1,698 | -€1,646 | -49.2% |
| Other amounts payable | 47/48 | €17,969 | €18,572 | +€603 | +3.4% |
| Non-recurring operating income | 76A | €9,705 | €0 | -€9,705 | -100.0% |
| Remuneration, social security and pensions | 62 | €9,656 | €6,518 | -€3,138 | -32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,259 | €13,145 | +€1,886 | +16.7% |
| Other operating charges | 640/8 | €11,260 | €2,785 | -€8,474 | -75.3% |
| Gross operating margin | 9900 | €11,816 | €4,861 | -€6,955 | -58.9% |
| Operating profit (loss) | 9901 | -€20,359 | -€17,587 | +€2,772 | +13.6% |
| Financial income | 75/76B | €0 | €2 | +€2 | +402.6% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +402.6% |
| Financial charges | 65/66B | €7,078 | €6,484 | -€594 | -8.4% |
| Recurring financial charges | 65 | €7,078 | €6,484 | -€594 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | -€27,437 | -€24,069 | +€3,368 | +12.3% |
| Income taxes | 67/77 | €199 | €143 | -€56 | -28.3% |
| Profit (loss) for the period | 9904 | -€27,636 | -€24,212 | +€3,424 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,636 | -€24,212 | +€3,424 | +12.4% |
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 10 October 2026 via checked.be.