ROYAL IMMO: 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.
ROYAL IMMO
Largest movements
- Current investments -€280,000
down €280,000 (-93.3%), from €300,000 to €20,000
- Cash +€123,831
up €123,831 (+2739.8%), from €4,520 to €128,351
mainly Current investments (+€280,000) and Net result for the year (+€147,986)
- Current portion of long-term debt -€150,000
down €150,000 (-100.0%), from €150,000 to €0
- Other debts -€139,300
down €139,300 (-91.1%), from €152,921 to €13,621
- Profit (loss) carried forward +€116,088
up €116,088, from -€116,079 to €9
- Reserves +€31,898
up €31,898 (+3.1%), from €1.0m to €1.1m
of which Distributable reserves: +€43,500
- Depreciation -€114,625
down €114,625 (-51.5%), from €222,565 to €107,941
- Financial charges -€102,659
down €102,659 (-97.0%), from €105,836 to €3,177
of which Non-recurring financial charges: -€100,000
- Financial income +€72,685
up €72,685 (+404.8%), from €17,955 to €90,640
of which Financial income: +€75,840
- Gross operating margin +€29,104
up €29,104 (+17.9%), from €162,367 to €191,471
- Taxes +€4,347
up €4,347 (+151997.9%), from €3 to €4,350
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 | €3,114,411 | €2,948,374 | -€166,037 | -5.3% |
| Fixed assets | 21/28 | €2,803,194 | €2,781,046 | -€22,148 | -0.8% |
| Tangible fixed assets | 22/27 | €2,803,194 | €2,781,046 | -€22,148 | -0.8% |
| Land and buildings | 22 | €2,584,573 | €2,527,024 | -€57,550 | -2.2% |
| Plant, machinery and equipment | 23 | €194,645 | €242,157 | +€47,512 | +24.4% |
| Furniture and vehicles | 24 | €23,976 | €11,865 | -€12,111 | -50.5% |
| Current assets | 29/58 | €311,217 | €167,329 | -€143,889 | -46.2% |
| Amounts receivable within one year | 40/41 | €5,687 | €18,978 | +€13,291 | +233.7% |
| Other amounts receivable | 41 | €5,687 | €18,978 | +€13,291 | +233.7% |
| Current investments | 50/53 | €300,000 | €20,000 | -€280,000 | -93.3% |
| Cash at bank and in hand | 54/58 | €4,520 | €128,351 | +€123,831 | +2739.8% |
| Deferred charges and accrued income | 490/1 | €1,011 | €0 | -€1,011 | -100.0% |
| Total equity and liabilities | 10/49 | €3,114,411 | €2,948,374 | -€166,037 | -5.3% |
| Equity | 10/15 | €2,723,756 | €2,871,741 | +€147,986 | +5.4% |
| Contributions | 10/11 | €1,800,000 | €1,800,000 | = | 0.0% |
| Reserves | 13 | €1,039,835 | €1,071,733 | +€31,898 | +3.1% |
| Tax-exempt reserves | 132 | €127,635 | €116,033 | -€11,602 | -9.1% |
| Distributable reserves | 133 | €912,200 | €955,700 | +€43,500 | +4.8% |
| Profit (loss) carried forward | 14 | -€116,079 | €9 | +€116,088 | |
| Provisions and deferred taxes | 16 | €65,721 | €59,747 | -€5,974 | -9.1% |
| Deferred taxes | 168 | €65,721 | €59,747 | -€5,974 | -9.1% |
| Amounts payable | 17/49 | €324,934 | €16,886 | -€308,048 | -94.8% |
| Amounts payable within one year | 42/48 | €323,367 | €13,796 | -€309,571 | -95.7% |
| Current portion of amounts payable after more than one year | 42 | €150,000 | €0 | -€150,000 | -100.0% |
| Trade debts | 44 | €1,496 | €151 | -€1,345 | -89.9% |
| Suppliers | 440/4 | €1,496 | €151 | -€1,345 | -89.9% |
| Taxes, remuneration and social security | 45 | €18,950 | €24 | -€18,926 | -99.9% |
| Taxes | 450/3 | €18,950 | €24 | -€18,926 | -99.9% |
| Other amounts payable | 47/48 | €152,921 | €13,621 | -€139,300 | -91.1% |
| Accrued charges and deferred income | 492/3 | €1,567 | €3,089 | +€1,523 | +97.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €222,565 | €107,941 | -€114,625 | -51.5% |
| Other operating charges | 640/8 | €28,767 | €24,632 | -€4,136 | -14.4% |
| Gross operating margin | 9900 | €162,367 | €191,471 | +€29,104 | +17.9% |
| Operating profit (loss) | 9901 | -€88,966 | €58,898 | +€147,864 | |
| Financial income | 75/76B | €17,955 | €90,640 | +€72,685 | +404.8% |
| Recurring financial income | 75 | €14,742 | €90,582 | +€75,840 | +514.4% |
| Non-recurring financial income | 76B | €3,213 | €58 | -€3,155 | -98.2% |
| Financial charges | 65/66B | €105,836 | €3,177 | -€102,659 | -97.0% |
| Recurring financial charges | 65 | €5,836 | €3,177 | -€2,659 | -45.6% |
| Non-recurring financial charges | 66B | €100,000 | €0 | -€100,000 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€176,847 | €146,361 | +€323,208 | |
| Transfer from deferred taxes | 780 | €5,974 | €5,974 | = | 0.0% |
| Income taxes | 67/77 | €3 | €4,350 | +€4,347 | +151997.9% |
| Profit (loss) for the period | 9904 | -€170,875 | €147,986 | +€318,861 | |
| Transfer from tax-exempt reserves | 789 | €11,602 | €11,602 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€159,273 | €159,588 | +€318,861 |
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.