ROYEN: 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
ROYEN
NACE 29.100, Manufacture of motor vehicles, trailers and semi-trailers
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.1m
2024 · -€553,116-€563,808
Equity
-€1.3m
2024 · -€220,557-€1.1m
Cash
€167,514
2024 · €715,644-€548,130
Balance sheet total
€3.4m
2024 · €4.6m-€1.2m
Largest movements
Assets
- Cash -€548,130
down €548,130 (-76.6%), from €715,644 to €167,514
mainly Net result for the year (-€1.1m) and Short-term financial debts (-€766,100)
- Stocks and contracts -€365,330
down €365,330 (-23.7%), from €1.5m to €1.2m
of which Contracts in progress: -€276,161
- Tangible fixed assets -€224,679
down €224,679 (-16.0%), from €1.4m to €1.2m
Equity and liabilities
- Profit (loss) carried forward -€1.1m
down €1.1m (-254%), from -€440,557 to -€1.6m
- Advances received +€902,366
up €902,366 (+676%), from €133,524 to €1.0m
- Short-term financial debts -€766,100
down €766,100 (-46.0%), from €1.7m to €897,604
- Debts after one year -€212,830
down €212,830 (-32.7%), from €651,824 to €438,994
- Trade debts +€131,671
up €131,671 (+40.0%), from €328,775 to €460,445
Income statement
- Gross operating margin -€838,121
down €838,121 (-40.9%), from €2.1m to €1.2m
- Staff costs -€177,112
down €177,112 (-8.0%), from €2.2m to €2.0m
- Financial charges -€85,839
down €85,839 (-51.8%), from €165,742 to €79,903
- Write-downs -€23,232
down €23,232, from €3,811 to -€19,421
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
-€553,116
Gross operating margin
-€838,121
Staff costs
+€177,112
Depreciation
+€7,140
Write-downs
+€23,232
Other operating charges
-€20,180
Financial income
+€2,193
Financial charges
+€85,839
Taxes
-€1,022
Result 2025
-€1.1m
raises the resultlowers the result
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
+€386,981
Investment
+€56,672
Financing
-€991,783
Cash 2024
€715,644
From operations (derived)
+€386,981
Net result for the year
-€1.1m
Depreciation
+€175,007
Stocks and contracts
+€365,330
Receivables within one year
+€11,920
Smaller working-capital items
+€578
Trade debts
+€131,671
Tax, wage and social debts
-€97,970
Advances received
+€902,366
Other debts
+€15,004
Investment (derived)
+€56,672
Investment in fixed assets (net)
+€56,672
Financing
-€991,783
Debts after one year
-€212,830
Current portion of long-term debt
-€12,853
Short-term financial debts
-€766,100
Cash 2025
€167,514
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,562,811 | €3,403,688 | -€1.2m | -25.4% |
| Fixed assets | 21/28 | €1,414,776 | €1,183,098 | -€231,679 | -16.4% |
| Intangible fixed assets | 21 | €14,000 | €7,000 | -€7,000 | -50.0% |
| Tangible fixed assets | 22/27 | €1,400,641 | €1,175,963 | -€224,679 | -16.0% |
| Plant, machinery and equipment | 23 | €543,009 | €476,952 | -€66,057 | -12.2% |
| Furniture and vehicles | 24 | €186,246 | €76,862 | -€109,384 | -58.7% |
| Other tangible fixed assets | 26 | €671,386 | €622,148 | -€49,238 | -7.3% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €3,148,035 | €2,220,590 | -€927,444 | -29.5% |
| Stocks and contracts in progress | 3 | €1,541,756 | €1,176,425 | -€365,330 | -23.7% |
| Stocks | 30/36 | €889,417 | €800,247 | -€89,170 | -10.0% |
| Contracts in progress | 37 | €652,339 | €376,178 | -€276,161 | -42.3% |
| Amounts receivable within one year | 40/41 | €879,328 | €867,408 | -€11,920 | -1.4% |
| Trade receivables | 40 | €799,924 | €867,408 | +€67,483 | +8.4% |
| Other amounts receivable | 41 | €79,403 | - | -€79,403 | |
| Cash at bank and in hand | 54/58 | €715,644 | €167,514 | -€548,130 | -76.6% |
| Deferred charges and accrued income | 490/1 | €11,308 | €9,244 | -€2,064 | -18.3% |
| Total equity and liabilities | 10/49 | €4,562,811 | €3,403,688 | -€1.2m | -25.4% |
| Equity | 10/15 | -€220,557 | -€1,337,481 | -€1.1m | -506% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€440,557 | -€1,557,481 | -€1.1m | -254% |
| Amounts payable | 17/49 | €4,783,368 | €4,741,169 | -€42,199 | -0.9% |
| Amounts payable after more than one year | 17 | €651,824 | €438,994 | -€212,830 | -32.7% |
| Financial debts | 170/4 | €651,824 | €438,994 | -€212,830 | -32.7% |
| Amounts payable within one year | 42/48 | €4,129,786 | €4,301,903 | +€172,118 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €225,683 | €212,830 | -€12,853 | -5.7% |
| Financial debts | 43 | €1,663,704 | €897,604 | -€766,100 | -46.0% |
| Credit institutions | 430/8 | €1,663,704 | €897,604 | -€766,100 | -46.0% |
| Trade debts | 44 | €328,775 | €460,445 | +€131,671 | +40.0% |
| Suppliers | 440/4 | €328,775 | €460,445 | +€131,671 | +40.0% |
| Advances received on contracts in progress | 46 | €133,524 | €1,035,890 | +€902,366 | +676% |
| Taxes, remuneration and social security | 45 | €431,009 | €333,040 | -€97,970 | -22.7% |
| Taxes | 450/3 | €117,541 | €116,927 | -€613 | -0.5% |
| Remuneration and social security | 454/9 | €313,469 | €216,112 | -€97,356 | -31.1% |
| Other amounts payable | 47/48 | €1,347,090 | €1,362,094 | +€15,004 | +1.1% |
| Accrued charges and deferred income | 492/3 | €1,758 | €272 | -€1,486 | -84.6% |
| Remuneration, social security and pensions | 62 | €2,202,411 | €2,025,299 | -€177,112 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,146 | €175,007 | -€7,140 | -3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,811 | -€19,421 | -€23,232 | |
| Other operating charges | 640/8 | €49,614 | €69,793 | +€20,180 | +40.7% |
| Gross operating margin | 9900 | €2,050,254 | €1,212,133 | -€838,121 | -40.9% |
| Operating profit (loss) | 9901 | -€387,728 | -€1,038,546 | -€650,817 | -168% |
| Financial income | 75/76B | €120 | €2,312 | +€2,193 | +1,831% |
| Recurring financial income | 75 | €120 | €2,312 | +€2,193 | +1,831% |
| Financial charges | 65/66B | €165,742 | €79,903 | -€85,839 | -51.8% |
| Recurring financial charges | 65 | €165,742 | €79,903 | -€85,839 | -51.8% |
| Profit (loss) for the period before taxes | 9903 | -€553,351 | -€1,116,137 | -€562,786 | -102% |
| Income taxes | 67/77 | -€235 | €788 | +€1,022 | |
| Profit (loss) for the period | 9904 | -€553,116 | -€1,116,924 | -€563,808 | -102% |
| Profit (loss) for the period to be appropriated | 9905 | -€553,116 | -€1,116,924 | -€563,808 | -102% |
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 15 October 2026 via checked.be.