Belgium's Royal Trust Society recently disclosed the value of its long-held assets, marking the first time in over a century it has unveiled this information. These assets, part of King Leopold II's

legacy, hold a minimum value of 231.4 million euros, as reported by Het Nieuwsblad on Monday.

The Royal Trust Society of Belgium oversees a majority of the nation's royal properties. This includes more than 7,500 hectares of land and 77 buildings, encompassing residences of the royal family and landmarks like the Royal Greenhouses in Laeken. Notably, the Royal Palaces of Brussels and Laeken fall under the ownership of the Belgian State, not the Royal Trust.

Originating as a donation from King Leopold II, whose controversial exploitation of the Congo Free State resulted in significant loss of life, a considerable part of the Royal Trust's funds were derived from the profits of these ventures. In 1900, Leopold donated these properties to the Belgian state, a strategic move aimed at preventing his daughters' foreign spouses from inheriting them. By 1930, a royal decree established the Royal Trust as an independent public institution, necessitating complete financial self-sufficiency. While some properties serve the King's purposes, others are leased out to generate revenue.

The Royal Trust has faced persistent criticism for its lack of transparency. A 2019 investigation by Flemish media highlighted the institution's own lack of clarity regarding its asset valuation, along with indirect taxpayer support for some costs.

Responding to these concerns, the Trust pledged greater transparency and has now disclosed its balance sheet for the 2022 financial year. According to this report, the Trust's estimated worth stands at a minimum of 231.4 million euros. However, this valuation excludes certain structures like the greenhouses or the Japanese Tower in Laeken, as well as uncultivated land, implying the overall worth could be considerably higher.

Despite this revelation, the Royal Trust recorded a 5.4 million euro loss in 2022. The institute clarified to Het Nieuwsblad that this loss does not impact taxpayers. Photo by Joris Van Grieken at en.wikipedia, Wikimedia commons.