ROYAL NAVY CONSTRUCT: 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 NAVY CONSTRUCT
Largest movements
- Cash -€48,193
down €48,193 (-99.6%), from €48,402 to €208
mainly Current investments (-€37,000) and Net result for the year (-€7,588)
- Current investments +€37,000
new in 2025: €37,000
- Receivables within one year -€795
down €795 (-28.5%), from €2,791 to €1,996
of which Other amounts receivable: -€400
- Profit (loss) carried forward -€7,588
down €7,588 (-6.9%), from -€110,300 to -€117,889
- Trade debts -€4,400
down €4,400 (-28.0%), from €15,700 to €11,300
- Gross operating margin -€7,652
down €7,652, from €5 to -€7,647
- Financial income +€210
new in 2025: €210
- Financial charges +€152
up €152, from €0 to €152
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 | €51,192 | €39,204 | -€11,988 | -23.4% |
| Current assets | 29/58 | €51,192 | €39,204 | -€11,988 | -23.4% |
| Amounts receivable within one year | 40/41 | €2,791 | €1,996 | -€795 | -28.5% |
| Trade receivables | 40 | €2,210 | €1,815 | -€395 | -17.9% |
| Other amounts receivable | 41 | €581 | €181 | -€400 | -68.8% |
| Current investments | 50/53 | - | €37,000 | +€37,000 | |
| Cash at bank and in hand | 54/58 | €48,402 | €208 | -€48,193 | -99.6% |
| Total equity and liabilities | 10/49 | €51,192 | €39,204 | -€11,988 | -23.4% |
| Equity | 10/15 | €34,493 | €26,904 | -€7,588 | -22.0% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €20,793 | €20,793 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Distributable reserves | 133 | €8,393 | €8,393 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€110,300 | -€117,889 | -€7,588 | -6.9% |
| Amounts payable | 17/49 | €16,700 | €12,300 | -€4,400 | -26.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €16,700 | €12,300 | -€4,400 | -26.3% |
| Trade debts | 44 | €15,700 | €11,300 | -€4,400 | -28.0% |
| Suppliers | 440/4 | €15,700 | €11,300 | -€4,400 | -28.0% |
| Other amounts payable | 47/48 | €1,000 | €1,000 | = | 0.0% |
| Gross operating margin | 9900 | €5 | -€7,647 | -€7,652 | |
| Operating profit (loss) | 9901 | €5 | -€7,647 | -€7,652 | |
| Financial income | 75/76B | - | €210 | +€210 | |
| Recurring financial income | 75 | - | €210 | +€210 | |
| Financial charges | 65/66B | €0 | €152 | +€152 | |
| Recurring financial charges | 65 | €0 | €152 | +€152 | |
| Profit (loss) for the period before taxes | 9903 | €5 | -€7,588 | -€7,594 | |
| Profit (loss) for the period | 9904 | €5 | -€7,588 | -€7,594 | |
| Profit (loss) for the period to be appropriated | 9905 | €5 | -€7,588 | -€7,594 |
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.