ROYALE 120: 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
ROYALE 120
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.6m
2024 · €1.5m+€52,818
Equity
€31.2m
2024 · €29.6m+€1.6m
Cash
€6.6m
2024 · €5.1m+€1.5m
Balance sheet total
€83.3m
2024 · €87.8m-€4.5m
Largest movements
Assets
- Receivables after one year -€4.8m
down €4.8m (-9.0%), from €53.1m to €48.4m
- Cash +€1.5m
up €1.5m (+30.1%), from €5.1m to €6.6m
mainly Receivables after one year (+€4.8m) and Net result for the year (+€1.6m)
- Tangible fixed assets -€1.3m
down €1.3m (-5.2%), from €25.9m to €24.5m
of which Land and buildings: -€1.3m
Equity and liabilities
- Accrued charges and deferred income -€4.7m
down €4.7m (-8.3%), from €56.8m to €52.0m
- Profit (loss) carried forward +€1.5m
new in 2025: €1.5m
- Other debts -€1.4m
down €1.4m (-100%), from €1.4m to €0
Income statement
- Turnover +€92,910
up €92,910 (+2.6%), from €3.6m to €3.7m
- Depreciation -€76,344
down €76,344 (-4.7%), from €1.6m to €1.5m
- Financial income -€56,602
down €56,602 (-47.3%), from €119,588 to €62,986
of which Financial income: -€59,364
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
€1.5m
Turnover
+€92,910
Other operating income
-€2,606
Services and other goods
-€18,490
Depreciation
+€76,344
Other operating charges
-€7,612
Other operating items
-€4,115
Financial income
-€56,602
Financial charges
+€298
Taxes
-€27,311
Result 2025
€1.6m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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
+€1.7m
Investment
-€191,307
Financing
+€6,000
Cash 2024
€5.1m
From operations (derived)
+€1.7m
Net result for the year
+€1.6m
Depreciation
+€1.5m
Receivables after one year
+€4.8m
Receivables within one year
+€4,592
Deferred charges and accrued income
-€77,215
Trade debts
+€18,472
Tax, wage and social debts
+€69,249
Other debts
-€1.4m
Accrued charges and deferred income
-€4.7m
Investment (derived)
-€191,307
Investment in fixed assets (net)
-€191,307
Financing
+€6,000
Debts after one year
+€6,000
Cash 2025
€6.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €87,834,465 | €83,328,399 | -€4.5m | -5.1% |
| Fixed assets | 21/28 | €25,858,005 | €24,518,123 | -€1.3m | -5.2% |
| Tangible fixed assets | 22/27 | €25,857,604 | €24,517,722 | -€1.3m | -5.2% |
| Land and buildings | 22 | €25,857,604 | €24,517,722 | -€1.3m | -5.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Financial fixed assets | 28 | €401 | €401 | = | 0.0% |
| Other financial fixed assets | 284/8 | €401 | €401 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €401 | €401 | = | 0.0% |
| Current assets | 29/58 | €61,976,460 | €58,810,276 | -€3.2m | -5.1% |
| Amounts receivable after more than one year | 29 | €53,133,681 | €48,359,285 | -€4.8m | -9.0% |
| Other amounts receivable | 291 | €53,133,681 | €48,359,285 | -€4.8m | -9.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €3,743,058 | €3,738,466 | -€4,592 | -0.1% |
| Trade receivables | 40 | €3,627,123 | €3,667,850 | +€40,727 | +1.1% |
| Other amounts receivable | 41 | €115,935 | €70,616 | -€45,319 | -39.1% |
| Cash at bank and in hand | 54/58 | €5,095,321 | €6,630,910 | +€1.5m | +30.1% |
| Deferred charges and accrued income | 490/1 | €4,401 | €81,616 | +€77,215 | +1,755% |
| Total equity and liabilities | 10/49 | €87,834,465 | €83,328,399 | -€4.5m | -5.1% |
| Equity | 10/15 | €29,586,331 | €31,164,547 | +€1.6m | +5.3% |
| Contributions | 10/11 | €29,000,000 | €29,000,000 | = | 0.0% |
| Capital | 10 | €29,000,000 | €29,000,000 | = | 0.0% |
| Issued capital | 100 | €29,000,000 | €29,000,000 | = | 0.0% |
| Reserves | 13 | €586,331 | €665,242 | +€78,911 | +13.5% |
| Non-distributable reserves | 130/1 | €586,331 | €665,242 | +€78,911 | +13.5% |
| Legal reserve | 130 | €586,331 | €665,242 | +€78,911 | +13.5% |
| Profit (loss) carried forward | 14 | - | €1,499,305 | +€1.5m | |
| Amounts payable | 17/49 | €58,248,134 | €52,163,852 | -€6.1m | -10.4% |
| Amounts payable after more than one year | 17 | - | €6,000 | +€6,000 | |
| Other amounts payable | 178/9 | - | €6,000 | +€6,000 | |
| Amounts payable within one year | 42/48 | €1,492,124 | €130,717 | -€1.4m | -91.2% |
| Trade debts | 44 | €38,406 | €56,878 | +€18,472 | +48.1% |
| Suppliers | 440/4 | €38,406 | €56,878 | +€18,472 | +48.1% |
| Taxes, remuneration and social security | 45 | €4,590 | €73,839 | +€69,249 | +1,509% |
| Taxes | 450/3 | €4,590 | €73,839 | +€69,249 | +1,509% |
| Other amounts payable | 47/48 | €1,449,128 | €0 | -€1.4m | -100% |
| Accrued charges and deferred income | 492/3 | €56,756,010 | €52,027,135 | -€4.7m | -8.3% |
| Operating income | 70/76A | €3,705,153 | €3,795,458 | +€90,305 | +2.4% |
| Turnover | 70 | €3,639,794 | €3,732,704 | +€92,910 | +2.6% |
| Other operating income | 74 | €65,359 | €62,754 | -€2,606 | -4.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €1,798,221 | €1,752,093 | -€46,127 | -2.6% |
| Services and other goods | 61 | €188,854 | €207,343 | +€18,490 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,607,533 | €1,531,189 | -€76,344 | -4.7% |
| Other operating charges | 640/8 | €1,834 | €9,446 | +€7,612 | +415% |
| Non-recurring operating charges | 66A | - | €4,115 | +€4,115 | |
| Operating profit (loss) | 9901 | €1,906,932 | €2,043,364 | +€136,432 | +7.2% |
| Financial income | 75/76B | €119,588 | €62,986 | -€56,602 | -47.3% |
| Recurring financial income | 75 | €119,588 | €60,224 | -€59,364 | -49.6% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €119,588 | €60,223 | -€59,364 | -49.6% |
| Other financial income | 752/9 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €2,762 | +€2,762 | |
| Financial charges | 65/66B | €989 | €691 | -€298 | -30.2% |
| Recurring financial charges | 65 | €989 | €691 | -€298 | -30.2% |
| Debt charges | 650 | €200 | €0 | -€200 | -100% |
| Other financial charges | 652/9 | €789 | €691 | -€99 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €2,025,531 | €2,105,659 | +€80,129 | +4.0% |
| Income taxes | 67/77 | €500,133 | €527,444 | +€27,311 | +5.5% |
| Taxes | 670/3 | €506,383 | €527,444 | +€21,061 | +4.2% |
| Tax adjustments and reversals of tax provisions | 77 | €6,250 | €0 | -€6,250 | -100% |
| Profit (loss) for the period | 9904 | €1,525,398 | €1,578,216 | +€52,818 | +3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,525,398 | €1,578,216 | +€52,818 | +3.5% |
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 27 October 2026 via checked.be.