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 -€5,466
down €5,466 (-8.6%), from €63,518 to €58,052
of which Furniture and vehicles: -€9,009
- Cash +€3,147
up €3,147 (+4.1%), from €77,532 to €80,679
mainly Depreciation (+€16,173) and Receivables within one year (+€3,040)
- Receivables within one year -€3,040
down €3,040 (-41.2%), from €7,377 to €4,336
of which Trade receivables: -€3,112
- Trade debts -€7,880
down €7,880 (-33.0%), from €23,883 to €16,003
- Tax, wage and social debts +€2,300
up €2,300 (+10.5%), from €21,921 to €24,221
of which Taxes: +€2,148
- Gross operating margin -€66,383
down €66,383 (-13.4%), from €497,113 to €430,729
- Staff costs -€23,257
down €23,257 (-5.4%), from €433,097 to €409,839
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 | €178,693 | €173,019 | -€5,674 | -3.2% |
| Fixed assets | 21/28 | €63,518 | €58,052 | -€5,466 | -8.6% |
| Tangible fixed assets | 22/27 | €63,518 | €58,052 | -€5,466 | -8.6% |
| Plant, machinery and equipment | 23 | €11,655 | €17,624 | +€5,969 | +51.2% |
| Furniture and vehicles | 24 | €30,288 | €21,279 | -€9,009 | -29.7% |
| Other tangible fixed assets | 26 | €21,575 | €19,149 | -€2,426 | -11.2% |
| Current assets | 29/58 | €115,175 | €114,967 | -€207 | -0.2% |
| Stocks and contracts in progress | 3 | €21,342 | €21,211 | -€130 | -0.6% |
| Stocks | 30/36 | €21,342 | €21,211 | -€130 | -0.6% |
| Amounts receivable within one year | 40/41 | €7,377 | €4,336 | -€3,040 | -41.2% |
| Trade receivables | 40 | €5,245 | €2,132 | -€3,112 | -59.3% |
| Other amounts receivable | 41 | €2,132 | €2,204 | +€72 | +3.4% |
| Cash at bank and in hand | 54/58 | €77,532 | €80,679 | +€3,147 | +4.1% |
| Deferred charges and accrued income | 490/1 | €8,924 | €8,740 | -€184 | -2.1% |
| Total equity and liabilities | 10/49 | €178,693 | €173,019 | -€5,674 | -3.2% |
| Equity | 10/15 | €132,889 | €132,795 | -€93 | -0.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €82,889 | €82,795 | -€93 | -0.1% |
| Tax-exempt reserves | 132 | €15,500 | €15,500 | = | 0.0% |
| Distributable reserves | 133 | €67,389 | €67,295 | -€93 | -0.1% |
| Amounts payable | 17/49 | €45,804 | €40,224 | -€5,580 | -12.2% |
| Amounts payable within one year | 42/48 | €45,804 | €40,224 | -€5,580 | -12.2% |
| Trade debts | 44 | €23,883 | €16,003 | -€7,880 | -33.0% |
| Suppliers | 440/4 | €23,883 | €16,003 | -€7,880 | -33.0% |
| Taxes, remuneration and social security | 45 | €21,921 | €24,221 | +€2,300 | +10.5% |
| Taxes | 450/3 | €1,101 | €3,249 | +€2,148 | +195.1% |
| Remuneration and social security | 454/9 | €20,820 | €20,972 | +€152 | +0.7% |
| Remuneration, social security and pensions | 62 | €433,097 | €409,839 | -€23,257 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,934 | €16,173 | +€1,239 | +8.3% |
| Other operating charges | 640/8 | €3,546 | €3,605 | +€59 | +1.7% |
| Gross operating margin | 9900 | €497,113 | €430,729 | -€66,383 | -13.4% |
| Operating profit (loss) | 9901 | €45,536 | €1,112 | -€44,424 | -97.6% |
| Financial income | 75/76B | €105 | €12 | -€93 | -88.8% |
| Recurring financial income | 75 | €105 | €12 | -€93 | -88.8% |
| Financial charges | 65/66B | €1,182 | €1,217 | +€34 | +2.9% |
| Recurring financial charges | 65 | €1,182 | €1,217 | +€34 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €44,458 | -€93 | -€44,552 | |
| Profit (loss) for the period | 9904 | €44,458 | -€93 | -€44,552 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,458 | -€93 | -€44,552 |
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.