Royal 26: 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 26
Largest movements
- Tangible fixed assets -€199,586
down €199,586 (-19.7%), from €1.0m to €811,321
of which Land and buildings: -€199,242
- Cash -€41,709
down €41,709 (-97.5%), from €42,795 to €1,086
mainly Short-term financial debts (-€178,531) and Net result for the year (-€50,488)
- Short-term financial debts -€178,531
down €178,531 (-21.2%), from €842,847 to €664,317
of which Credit institutions: -€184,731
- Profit (loss) carried forward -€50,488
down €50,488 (-21.0%), from -€240,638 to -€291,126
- Gross operating margin +€91,859
up €91,859, from -€51,779 to €40,080
- Financial charges +€55,982
up €55,982 (+184%), from €30,475 to €86,457
- Other operating charges -€2,693
down €2,693 (-27.1%), from €9,931 to €7,237
- Financial income +€602
up €602 (+19.4%), from €3,094 to €3,696
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,055,986 | €812,706 | -€243,279 | -23.0% |
| Fixed assets | 21/28 | €1,011,432 | €811,621 | -€199,812 | -19.8% |
| Intangible fixed assets | 21 | €526 | €300 | -€226 | -43.0% |
| Tangible fixed assets | 22/27 | €1,010,907 | €811,321 | -€199,586 | -19.7% |
| Land and buildings | 22 | €1,007,763 | €808,521 | -€199,242 | -19.8% |
| Furniture and vehicles | 24 | €3,144 | €2,800 | -€344 | -10.9% |
| Current assets | 29/58 | €44,553 | €1,086 | -€43,467 | -97.6% |
| Stocks and contracts in progress | 3 | €649 | - | -€649 | |
| Stocks | 30/36 | €649 | - | -€649 | |
| Amounts receivable within one year | 40/41 | €629 | - | -€629 | |
| Trade receivables | 40 | €629 | - | -€629 | |
| Cash at bank and in hand | 54/58 | €42,795 | €1,086 | -€41,709 | -97.5% |
| Deferred charges and accrued income | 490/1 | €480 | - | -€480 | |
| Total equity and liabilities | 10/49 | €1,055,986 | €812,706 | -€243,279 | -23.0% |
| Equity | 10/15 | -€216,881 | -€267,369 | -€50,488 | -23.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,158 | €5,158 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,158 | €5,158 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,158 | €5,158 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€240,638 | -€291,126 | -€50,488 | -21.0% |
| Amounts payable | 17/49 | €1,272,866 | €1,080,075 | -€192,791 | -15.1% |
| Amounts payable within one year | 42/48 | €1,272,866 | €1,080,075 | -€192,791 | -15.1% |
| Financial debts | 43 | €842,847 | €664,317 | -€178,531 | -21.2% |
| Credit institutions | 430/8 | €540,614 | €355,883 | -€184,731 | -34.2% |
| Other loans | 439 | €302,234 | €308,434 | +€6,200 | +2.1% |
| Trade debts | 44 | €27,523 | €22,859 | -€4,664 | -16.9% |
| Suppliers | 440/4 | €27,523 | €22,859 | -€4,664 | -16.9% |
| Other amounts payable | 47/48 | €402,496 | €392,900 | -€9,596 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €522 | €570 | +€48 | +9.2% |
| Other operating charges | 640/8 | €9,931 | €7,237 | -€2,693 | -27.1% |
| Non-recurring operating charges | 66A | €50,838 | - | -€50,838 | |
| Gross operating margin | 9900 | -€51,779 | €40,080 | +€91,859 | |
| Operating profit (loss) | 9901 | -€113,069 | €32,273 | +€145,342 | |
| Financial income | 75/76B | €3,094 | €3,696 | +€602 | +19.4% |
| Recurring financial income | 75 | €3,094 | €3,696 | +€602 | +19.4% |
| Financial charges | 65/66B | €30,475 | €86,457 | +€55,982 | +184% |
| Recurring financial charges | 65 | €30,475 | €86,457 | +€55,982 | +184% |
| Profit (loss) for the period before taxes | 9903 | -€140,450 | -€50,488 | +€89,962 | +64.1% |
| Income taxes | 67/77 | €91 | - | -€91 | |
| Profit (loss) for the period | 9904 | -€140,541 | -€50,488 | +€90,053 | +64.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€140,541 | -€50,488 | +€90,053 | +64.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.