Royal Warwick: 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.
What changed
Royal Warwick
NACE 55.100, Hotels and similar accommodation
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.6m
2024 · €881,116+€675,692
Equity
€17.5m
2024 · €15.9m+€1.6m
Cash
€4.9m
2024 · €6.8m-€2.0m
Balance sheet total
€40.3m
2024 · €39.4m+€866,488
Largest movements
Assets
- Receivables after one year +€3.5m
up €3.5m (+34.6%), from €10.2m to €13.7m
- Cash -€2.0m
down €2.0m (-28.8%), from €6.8m to €4.9m
mainly Receivables after one year (-€3.5m) and Investment in fixed assets (net) (-€1.2m)
- Receivables within one year -€651,789
down €651,789 (-22.9%), from €2.9m to €2.2m
of which Other amounts receivable: -€587,687
Equity and liabilities
- Profit (loss) carried forward +€1.5m
up €1.5m (+27.9%), from €5.3m to €6.8m
Income statement
- Financial charges -€1.2m
down €1.2m (-49.6%), from €2.5m to €1.3m
of which Non-recurring financial charges: -€1.6m
- Staff costs +€405,345
up €405,345 (+5.2%), from €7.8m to €8.2m
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.
Result 2024
€881,116
Turnover
+€158,144
Other operating income
+€75,939
Goods and materials
-€92,318
Services and other goods
-€163,916
Staff costs
-€405,345
Depreciation
-€100,447
Write-downs
+€3,173
Other operating charges
-€11,024
Other operating items
+€87,437
Financial income
-€95,259
Financial charges
+€1.2m
Taxes
-€18,581
Result 2025
€1.6m
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.
From operations
-€2,467
Investment
-€1.2m
Financing
-€741,606
Cash 2024
€6.8m
From operations (derived)
-€2,467
Net result for the year
+€1.6m
Depreciation
+€1.2m
Receivables after one year
-€3.5m
Stocks and contracts
+€24,214
Receivables within one year
+€651,789
Smaller working-capital items
-€2,032
Trade debts
-€51,733
Tax, wage and social debts
+€211,369
Other debts
-€69,889
Accrued charges and deferred income
-€30,935
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Current investments
-€57,568
Financing
-€741,606
Debts after one year
-€372,146
Current portion of long-term debt
+€2,380
Short-term financial debts
-€371,840
Cash 2025
€4.9m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,404,848 | €40,271,336 | +€866,488 | +2.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €18,806,772 | €18,747,505 | -€59,267 | -0.3% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €18,777,992 | €18,718,725 | -€59,267 | -0.3% |
| Land and buildings | 22 | €12,381,534 | €12,151,854 | -€229,680 | -1.9% |
| Plant, machinery and equipment | 23 | €5,426,109 | €5,513,197 | +€87,088 | +1.6% |
| Furniture and vehicles | 24 | €543,932 | €447,677 | -€96,255 | -17.7% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €426,417 | €605,997 | +€179,580 | +42.1% |
| Financial fixed assets | 28 | €28,780 | €28,780 | = | 0.0% |
| Other financial fixed assets | 284/8 | €28,780 | €28,780 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €28,780 | €28,780 | = | 0.0% |
| Current assets | 29/58 | €20,598,076 | €21,523,831 | +€925,755 | +4.5% |
| Amounts receivable after more than one year | 29 | €10,164,698 | €13,684,697 | +€3.5m | +34.6% |
| Trade receivables | 290 | €10,164,698 | €13,684,697 | +€3.5m | +34.6% |
| Stocks and contracts in progress | 3 | €279,078 | €254,864 | -€24,214 | -8.7% |
| Stocks | 30/36 | €279,078 | €254,864 | -€24,214 | -8.7% |
| Raw materials and consumables | 30/31 | €279,078 | €254,864 | -€24,214 | -8.7% |
| Amounts receivable within one year | 40/41 | €2,851,015 | €2,199,226 | -€651,789 | -22.9% |
| Trade receivables | 40 | €500,465 | €436,363 | -€64,102 | -12.8% |
| Other amounts receivable | 41 | €2,350,550 | €1,762,863 | -€587,687 | -25.0% |
| Current investments | 50/53 | €347,076 | €404,644 | +€57,568 | +16.6% |
| Other investments | 51/53 | €347,076 | €404,644 | +€57,568 | +16.6% |
| Cash at bank and in hand | 54/58 | €6,834,330 | €4,864,015 | -€2.0m | -28.8% |
| Deferred charges and accrued income | 490/1 | €121,879 | €116,385 | -€5,494 | -4.5% |
| Total equity and liabilities | 10/49 | €39,404,848 | €40,271,336 | +€866,488 | +2.2% |
| Equity | 10/15 | €15,911,806 | €17,468,614 | +€1.6m | +9.8% |
| Contributions | 10/11 | €10,065,000 | €10,065,000 | = | 0.0% |
| Capital | 10 | €10,065,000 | €10,065,000 | = | 0.0% |
| Issued capital | 100 | €10,065,000 | €10,065,000 | = | 0.0% |
| Reserves | 13 | €550,710 | €628,551 | +€77,841 | +14.1% |
| Non-distributable reserves | 130/1 | €550,710 | €628,551 | +€77,841 | +14.1% |
| Legal reserve | 130 | €550,710 | €628,551 | +€77,841 | +14.1% |
| Profit (loss) carried forward | 14 | €5,296,096 | €6,775,063 | +€1.5m | +27.9% |
| Amounts payable | 17/49 | €23,493,042 | €22,802,722 | -€690,320 | -2.9% |
| Amounts payable after more than one year | 17 | €19,185,880 | €18,813,734 | -€372,146 | -1.9% |
| Financial debts | 170/4 | €19,185,880 | €18,813,734 | -€372,146 | -1.9% |
| Credit institutions | 173 | €19,185,880 | €18,813,734 | -€372,146 | -1.9% |
| Amounts payable within one year | 42/48 | €4,102,755 | €3,815,516 | -€287,239 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €369,765 | €372,145 | +€2,380 | +0.6% |
| Financial debts | 43 | €371,840 | €0 | -€371,840 | -100.0% |
| Credit institutions | 430/8 | €371,840 | €0 | -€371,840 | -100.0% |
| Trade debts | 44 | €987,670 | €935,937 | -€51,733 | -5.2% |
| Suppliers | 440/4 | €987,670 | €935,937 | -€51,733 | -5.2% |
| Advances received on contracts in progress | 46 | €288,508 | €280,982 | -€7,526 | -2.6% |
| Taxes, remuneration and social security | 45 | €1,694,515 | €1,905,884 | +€211,369 | +12.5% |
| Taxes | 450/3 | €519,430 | €545,087 | +€25,657 | +4.9% |
| Remuneration and social security | 454/9 | €1,175,085 | €1,360,797 | +€185,712 | +15.8% |
| Other amounts payable | 47/48 | €390,457 | €320,568 | -€69,889 | -17.9% |
| Accrued charges and deferred income | 492/3 | €204,407 | €173,472 | -€30,935 | -15.1% |
| Operating income | 70/76A | €17,435,433 | €17,669,090 | +€233,657 | +1.3% |
| Turnover | 70 | €16,412,339 | €16,570,483 | +€158,144 | +1.0% |
| Other operating income | 74 | €1,007,222 | €1,083,161 | +€75,939 | +7.5% |
| Non-recurring operating income | 76A | €15,872 | €15,446 | -€426 | -2.7% |
| Operating charges | 60/66A | €14,782,170 | €15,464,184 | +€682,014 | +4.6% |
| Goods for resale, raw materials and consumables | 60 | €900,252 | €992,570 | +€92,318 | +10.3% |
| Purchases | 600/8 | €850,270 | €968,356 | +€118,086 | +13.9% |
| Change in stocks: decrease (increase) | 609 | €49,982 | €24,214 | -€25,768 | -51.6% |
| Services and other goods | 61 | €4,350,482 | €4,514,398 | +€163,916 | +3.8% |
| Remuneration, social security and pensions | 62 | €7,827,017 | €8,232,362 | +€405,345 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,127,494 | €1,227,941 | +€100,447 | +8.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,338 | -€835 | -€3,173 | |
| Other operating charges | 640/8 | €467,599 | €478,623 | +€11,024 | +2.4% |
| Non-recurring operating charges | 66A | €106,988 | €19,125 | -€87,863 | -82.1% |
| Operating profit (loss) | 9901 | €2,653,263 | €2,204,906 | -€448,357 | -16.9% |
| Financial income | 75/76B | €765,376 | €670,117 | -€95,259 | -12.4% |
| Recurring financial income | 75 | €758,859 | €655,928 | -€102,931 | -13.6% |
| Income from current assets | 751 | €748,494 | €593,579 | -€154,915 | -20.7% |
| Other financial income | 752/9 | €10,365 | €62,349 | +€51,984 | +501.5% |
| Non-recurring financial income | 76B | €6,517 | €14,189 | +€7,672 | +117.7% |
| Financial charges | 65/66B | €2,495,162 | €1,257,273 | -€1.2m | -49.6% |
| Recurring financial charges | 65 | €721,410 | €1,121,367 | +€399,957 | +55.4% |
| Debt charges | 650 | €684,056 | €1,087,109 | +€403,053 | +58.9% |
| Other financial charges | 652/9 | €37,354 | €34,258 | -€3,096 | -8.3% |
| Non-recurring financial charges | 66B | €1,773,752 | €135,906 | -€1.6m | -92.3% |
| Profit (loss) for the period before taxes | 9903 | €923,477 | €1,617,750 | +€694,273 | +75.2% |
| Income taxes | 67/77 | €42,361 | €60,942 | +€18,581 | +43.9% |
| Taxes | 670/3 | €42,361 | €60,942 | +€18,581 | +43.9% |
| Profit (loss) for the period | 9904 | €881,116 | €1,556,808 | +€675,692 | +76.7% |
| Profit (loss) for the period to be appropriated | 9905 | €881,116 | €1,556,808 | +€675,692 | +76.7% |
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 11 October 2026 via checked.be.