ROYAWYN: 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.
What changed
ROYAWYN
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€9.1m
2024 · €10.1m-€1.0m
Equity
€41.1m
2024 · €32.1m+€9.1m
Cash
€26.0m
2024 · €12.4m+€13.6m
Balance sheet total
€67.0m
2024 · €51.4m+€15.7m
Largest movements
Assets
- Cash +€13.6m
up €13.6m (+109.2%), from €12.4m to €26.0m
mainly Net result for the year (+€9.1m) and Short-term financial debts (+€6.1m)
- Tangible fixed assets +€3.2m
up €3.2m (+10.6%), from €29.8m to €33.0m
of which Land and buildings: +€5.9m
- Receivables within one year -€1.1m
down €1.1m (-12.7%), from €8.3m to €7.2m
of which Trade receivables: -€827,119
Equity and liabilities
- Profit (loss) carried forward +€9.1m
up €9.1m (+54.8%), from €16.5m to €25.6m
- Short-term financial debts +€6.1m
new in 2025: €6.1m
- Trade debts +€1.0m
up €1.0m (+20.2%), from €5.1m to €6.1m
Income statement
- Other operating income -€1.7m
down €1.7m (-27.5%), from €6.3m to €4.6m
- Write-downs -€679,500
down €679,500, from €230,825 to -€448,675
- Taxes -€349,702
down €349,702 (-10.4%), from €3.4m to €3.0m
- Financial income -€310,723
down €310,723 (-65.2%), from €476,330 to €165,607
- Services and other goods -€255,663
down €255,663 (-4.6%), from €5.6m to €5.3m
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
€10.1m
Turnover
-€164,310
Other operating income
-€1.7m
Services and other goods
+€255,663
Depreciation
-€223,265
Write-downs
+€679,500
Other operating charges
-€58,122
Financial income
-€310,723
Financial charges
+€168,783
Taxes
+€349,702
Result 2025
€9.1m
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
+€14.3m
Investment
-€6.7m
Financing
+€6.0m
Cash 2024
€12.4m
From operations (derived)
+€14.3m
Net result for the year
+€9.1m
Depreciation
+€3.6m
Receivables within one year
+€1.1m
Deferred charges and accrued income
+€48,495
Trade debts
+€1.0m
Tax, wage and social debts
-€531,554
Accrued charges and deferred income
+€68,663
Investment (derived)
-€6.7m
Investment in fixed assets (net)
-€6.7m
Financing
+€6.0m
Debts after one year
-€60,750
Short-term financial debts
+€6.1m
Cash 2025
€26.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,390,852 | €67,041,305 | +€15.7m | +30.5% |
| Fixed assets | 21/28 | €29,832,144 | €33,005,010 | +€3.2m | +10.6% |
| Tangible fixed assets | 22/27 | €29,832,144 | €33,005,010 | +€3.2m | +10.6% |
| Land and buildings | 22 | €26,526,994 | €32,438,869 | +€5.9m | +22.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €585,018 | €430,652 | -€154,367 | -26.4% |
| Assets under construction and advance payments | 27 | €2,720,132 | €135,489 | -€2.6m | -95.0% |
| Current assets | 29/58 | €21,558,708 | €34,036,295 | +€12.5m | +57.9% |
| Amounts receivable within one year | 40/41 | €8,290,840 | €7,234,303 | -€1.1m | -12.7% |
| Trade receivables | 40 | €7,620,449 | €6,793,330 | -€827,119 | -10.9% |
| Other amounts receivable | 41 | €670,391 | €440,972 | -€229,418 | -34.2% |
| Cash at bank and in hand | 54/58 | €12,438,218 | €26,020,837 | +€13.6m | +109.2% |
| Deferred charges and accrued income | 490/1 | €829,650 | €781,155 | -€48,495 | -5.8% |
| Total equity and liabilities | 10/49 | €51,390,852 | €67,041,305 | +€15.7m | +30.5% |
| Equity | 10/15 | €32,074,996 | €41,137,141 | +€9.1m | +28.3% |
| Contributions | 10/11 | €14,000,000 | €14,000,000 | = | 0.0% |
| Capital | 10 | €14,000,000 | €14,000,000 | = | 0.0% |
| Issued capital | 100 | €14,000,000 | €14,000,000 | = | 0.0% |
| Reserves | 13 | €1,526,674 | €1,526,674 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,526,674 | €1,526,674 | = | 0.0% |
| Legal reserve | 130 | €1,526,674 | €1,526,674 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,548,322 | €25,610,467 | +€9.1m | +54.8% |
| Amounts payable | 17/49 | €19,315,856 | €25,904,164 | +€6.6m | +34.1% |
| Amounts payable after more than one year | 17 | €8,609,347 | €8,548,597 | -€60,750 | -0.7% |
| Financial debts | 170/4 | €8,000,000 | €8,000,000 | = | 0.0% |
| Other loans | 174 | €8,000,000 | €8,000,000 | = | 0.0% |
| Other amounts payable | 178/9 | €609,347 | €548,597 | -€60,750 | -10.0% |
| Amounts payable within one year | 42/48 | €6,187,482 | €12,767,876 | +€6.6m | +106.4% |
| Financial debts | 43 | - | €6,089,115 | +€6.1m | |
| Other loans | 439 | - | €6,089,115 | +€6.1m | |
| Trade debts | 44 | €5,069,013 | €6,091,846 | +€1.0m | +20.2% |
| Suppliers | 440/4 | €5,069,013 | €6,091,846 | +€1.0m | +20.2% |
| Taxes, remuneration and social security | 45 | €1,118,469 | €586,915 | -€531,554 | -47.5% |
| Taxes | 450/3 | €1,118,469 | €586,915 | -€531,554 | -47.5% |
| Accrued charges and deferred income | 492/3 | €4,519,027 | €4,587,690 | +€68,663 | +1.5% |
| Operating income | 70/76A | €24,880,524 | €22,977,970 | -€1.9m | -7.6% |
| Turnover | 70 | €18,568,896 | €18,404,587 | -€164,310 | -0.9% |
| Other operating income | 74 | €6,311,628 | €4,573,383 | -€1.7m | -27.5% |
| Operating charges | 60/66A | €11,457,559 | €10,803,783 | -€653,776 | -5.7% |
| Services and other goods | 61 | €5,584,073 | €5,328,410 | -€255,663 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,334,114 | €3,557,379 | +€223,265 | +6.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €230,825 | -€448,675 | -€679,500 | |
| Other operating charges | 640/8 | €2,308,547 | €2,366,669 | +€58,122 | +2.5% |
| Operating profit (loss) | 9901 | €13,422,965 | €12,174,187 | -€1.2m | -9.3% |
| Financial income | 75/76B | €476,330 | €165,607 | -€310,723 | -65.2% |
| Recurring financial income | 75 | €476,330 | €165,607 | -€310,723 | -65.2% |
| Other financial income | 752/9 | €476,330 | €165,607 | -€310,723 | -65.2% |
| Financial charges | 65/66B | €425,716 | €256,934 | -€168,783 | -39.6% |
| Recurring financial charges | 65 | €425,716 | €256,934 | -€168,783 | -39.6% |
| Debt charges | 650 | €401,614 | €255,515 | -€146,099 | -36.4% |
| Other financial charges | 652/9 | €24,103 | €1,419 | -€22,684 | -94.1% |
| Profit (loss) for the period before taxes | 9903 | €13,473,578 | €12,082,860 | -€1.4m | -10.3% |
| Income taxes | 67/77 | €3,370,417 | €3,020,715 | -€349,702 | -10.4% |
| Taxes | 670/3 | €3,370,417 | €3,020,715 | -€349,702 | -10.4% |
| Profit (loss) for the period | 9904 | €10,103,161 | €9,062,145 | -€1.0m | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,103,161 | €9,062,145 | -€1.0m | -10.3% |
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 9 October 2026 via checked.be.