ROYERS: 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.
ROYERS
Largest movements
- Tangible fixed assets +€589,023
up €589,023 (+59.0%), from €999,137 to €1.6m
- Receivables within one year +€297,608
up €297,608 (+635.4%), from €46,838 to €344,446
- Debts after one year +€1.6m
up €1.6m (+8615.3%), from €18,650 to €1.6m
of which Financial debts: +€1.6m
- Reserves -€762,079
down €762,079 (-81.7%), from €932,858 to €170,779
of which Tax-exempt reserves: -€775,513
- Profit (loss) carried forward +€20,235
up €20,235 (+8.6%), from -€236,323 to -€216,088
- Gross operating margin +€13,534
up €13,534 (+33.5%), from €40,447 to €53,982
- Depreciation -€778
down €778 (-2.3%), from €34,181 to €33,403
- Other operating charges -€554
no longer reported in 2025 (was €554)
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,051,310 | €1,938,992 | +€887,683 | +84.4% |
| Fixed assets | 21/28 | €1,001,362 | €1,590,385 | +€589,023 | +58.8% |
| Tangible fixed assets | 22/27 | €999,137 | €1,588,160 | +€589,023 | +59.0% |
| Land and buildings | 22 | €999,137 | €1,588,160 | +€589,023 | +59.0% |
| Financial fixed assets | 28 | €2,225 | €2,225 | = | 0.0% |
| Current assets | 29/58 | €49,947 | €348,607 | +€298,660 | +598.0% |
| Amounts receivable within one year | 40/41 | €46,838 | €344,446 | +€297,608 | +635.4% |
| Other amounts receivable | 41 | €46,838 | €344,446 | +€297,608 | +635.4% |
| Cash at bank and in hand | 54/58 | €2,306 | €4,161 | +€1,855 | +80.4% |
| Deferred charges and accrued income | 490/1 | €803 | - | -€803 | |
| Total equity and liabilities | 10/49 | €1,051,310 | €1,938,992 | +€887,683 | +84.4% |
| Equity | 10/15 | €758,508 | €21,664 | -€736,844 | -97.1% |
| Contributions | 10/11 | €61,973 | €66,973 | +€5,000 | +8.1% |
| Capital | 10 | €61,973 | €66,973 | +€5,000 | +8.1% |
| Issued capital | 100 | €61,973 | €66,973 | +€5,000 | +8.1% |
| Reserves | 13 | €932,858 | €170,779 | -€762,079 | -81.7% |
| Non-distributable reserves | 130/1 | €17,318 | €170,779 | +€153,461 | +886.2% |
| Legal reserve | 130 | €17,318 | €170,779 | +€153,461 | +886.2% |
| Tax-exempt reserves | 132 | €775,513 | - | -€775,513 | |
| Distributable reserves | 133 | €140,027 | - | -€140,027 | |
| Profit (loss) carried forward | 14 | -€236,323 | -€216,088 | +€20,235 | +8.6% |
| Provisions and deferred taxes | 16 | €258,504 | €258,504 | = | 0.0% |
| Deferred taxes | 168 | €258,504 | €258,504 | = | 0.0% |
| Amounts payable | 17/49 | €34,297 | €1,658,824 | +€1.6m | +4736.6% |
| Amounts payable after more than one year | 17 | €18,650 | €1,625,400 | +€1.6m | +8615.3% |
| Financial debts | 170/4 | - | €1,600,000 | +€1.6m | |
| Other amounts payable | 178/9 | €18,650 | €25,400 | +€6,750 | +36.2% |
| Amounts payable within one year | 42/48 | €4,347 | €8,920 | +€4,573 | +105.2% |
| Trade debts | 44 | €3,347 | €8,920 | +€5,573 | +166.5% |
| Suppliers | 440/4 | €3,347 | €8,920 | +€5,573 | +166.5% |
| Other amounts payable | 47/48 | €1,000 | - | -€1,000 | |
| Accrued charges and deferred income | 492/3 | €11,300 | €24,504 | +€13,204 | +116.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,181 | €33,403 | -€778 | -2.3% |
| Other operating charges | 640/8 | €554 | - | -€554 | |
| Non-recurring operating charges | 66A | €1,350 | - | -€1,350 | |
| Gross operating margin | 9900 | €40,447 | €53,982 | +€13,534 | +33.5% |
| Operating profit (loss) | 9901 | €4,363 | €20,579 | +€16,216 | +371.7% |
| Financial charges | 65/66B | €315 | €344 | +€29 | +9.1% |
| Recurring financial charges | 65 | €315 | €344 | +€29 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €4,047 | €20,235 | +€16,188 | +400.0% |
| Profit (loss) for the period | 9904 | €4,047 | €20,235 | +€16,188 | +400.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,047 | €20,235 | +€16,188 | +400.0% |
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 7 October 2026 via checked.be.