ROYAUX: 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.
ROYAUX
Largest movements
- Tangible fixed assets -€36,930
down €36,930 (-16.2%), from €228,372 to €191,443
of which Land and buildings: -€36,930
- Receivables within one year +€15,795
up €15,795 (+101%), from €15,704 to €31,500
of which Other amounts receivable: +€15,806
- Cash -€5,483
down €5,483 (-36.4%), from €15,076 to €9,593
mainly Contributions, distributions and other (-€80,000) and Receivables within one year (-€15,795)
- Revaluation surpluses -€33,653
down €33,653 (-28.4%), from €118,424 to €84,771
- Other debts +€32,226
up €32,226, from €0 to €32,226
- Reserves -€19,103
down €19,103 (-23.3%), from €81,895 to €62,792
- Debts after one year -€4,306
down €4,306 (-27.5%), from €15,671 to €11,365
- Gross operating margin -€26,746
down €26,746 (-21.7%), from €123,331 to €96,585
- Taxes -€6,659
down €6,659 (-24.7%), from €26,958 to €20,299
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €261,964 | €234,948 | -€27,017 | -10.3% |
| Fixed assets | 21/28 | €230,785 | €193,855 | -€36,930 | -16.0% |
| Tangible fixed assets | 22/27 | €228,372 | €191,443 | -€36,930 | -16.2% |
| Land and buildings | 22 | €228,372 | €191,443 | -€36,930 | -16.2% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €2,412 | €2,412 | = | 0.0% |
| Current assets | 29/58 | €31,180 | €41,093 | +€9,913 | +31.8% |
| Amounts receivable within one year | 40/41 | €15,704 | €31,500 | +€15,795 | +101% |
| Trade receivables | 40 | €10 | €0 | -€10 | -100% |
| Other amounts receivable | 41 | €15,694 | €31,500 | +€15,806 | +101% |
| Cash at bank and in hand | 54/58 | €15,076 | €9,593 | -€5,483 | -36.4% |
| Deferred charges and accrued income | 490/1 | €399 | €0 | -€399 | -100% |
| Total equity and liabilities | 10/49 | €261,964 | €234,948 | -€27,017 | -10.3% |
| Equity | 10/15 | €231,318 | €178,562 | -€52,756 | -22.8% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Revaluation surpluses | 12 | €118,424 | €84,771 | -€33,653 | -28.4% |
| Reserves | 13 | €81,895 | €62,792 | -€19,103 | -23.3% |
| Distributable reserves | 133 | €81,895 | €62,792 | -€19,103 | -23.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €30,646 | €56,386 | +€25,739 | +84.0% |
| Amounts payable after more than one year | 17 | €15,671 | €11,365 | -€4,306 | -27.5% |
| Financial debts | 170/4 | €15,671 | €11,365 | -€4,306 | -27.5% |
| Amounts payable within one year | 42/48 | €14,975 | €45,021 | +€30,045 | +201% |
| Current portion of amounts payable after more than one year | 42 | €4,255 | €4,306 | +€51 | +1.2% |
| Financial debts | 43 | €8,450 | €8,414 | -€36 | -0.4% |
| Credit institutions | 430/8 | €8,450 | €8,414 | -€36 | -0.4% |
| Trade debts | 44 | €0 | €75 | +€75 | |
| Suppliers | 440/4 | €0 | €75 | +€75 | |
| Taxes, remuneration and social security | 45 | €2,270 | €0 | -€2,270 | -100% |
| Taxes | 450/3 | €2,270 | €0 | -€2,270 | -100% |
| Other amounts payable | 47/48 | €0 | €32,226 | +€32,226 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,487 | €36,930 | -€557 | -1.5% |
| Other operating charges | 640/8 | €10,381 | €10,707 | +€326 | +3.1% |
| Gross operating margin | 9900 | €123,331 | €96,585 | -€26,746 | -21.7% |
| Operating profit (loss) | 9901 | €75,463 | €48,948 | -€26,515 | -35.1% |
| Financial charges | 65/66B | €1,284 | €1,405 | +€122 | +9.5% |
| Recurring financial charges | 65 | €1,284 | €1,405 | +€122 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | €74,180 | €47,543 | -€26,637 | -35.9% |
| Income taxes | 67/77 | €26,958 | €20,299 | -€6,659 | -24.7% |
| Profit (loss) for the period | 9904 | €47,222 | €27,244 | -€19,977 | -42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,222 | €27,244 | -€19,977 | -42.3% |
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 25 October 2026 via checked.be.