FAL IMMO: 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.
FAL IMMO
Largest movements
- Tangible fixed assets -€86,589
down €86,589 (-23.3%), from €371,753 to €285,164
of which Land and buildings: -€86,589
- Stocks and contracts +€28,221
up €28,221 (+10.2%), from €276,929 to €305,151
- Current portion of long-term debt -€86,294
no longer reported in 2025 (was €86,294)
- Other debts -€80,930
down €80,930 (-24.5%), from €330,956 to €250,026
- Profit (loss) carried forward +€62,872
up €62,872 (+66.6%), from -€94,338 to -€31,466
- Short-term financial debts +€57,924
up €57,924 (+123.6%), from €46,872 to €104,797
- Debts after one year -€22,446
down €22,446 (-8.7%), from €259,338 to €236,891
- Gross operating margin +€24,557
up €24,557 (+27.4%), from €89,661 to €114,218
- Depreciation -€6,191
down €6,191 (-16.7%), from €37,075 to €30,884
- Financial charges +€3,027
up €3,027 (+18.2%), from €16,678 to €19,705
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €649,583 | €591,214 | -€58,368 | -9.0% |
| Fixed assets | 21/28 | €372,653 | €286,064 | -€86,589 | -23.2% |
| Tangible fixed assets | 22/27 | €371,753 | €285,164 | -€86,589 | -23.3% |
| Land and buildings | 22 | €370,674 | €284,085 | -€86,589 | -23.4% |
| Plant, machinery and equipment | 23 | €1,079 | €1,079 | = | 0.0% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €276,929 | €305,151 | +€28,221 | +10.2% |
| Stocks and contracts in progress | 3 | €276,929 | €305,151 | +€28,221 | +10.2% |
| Stocks | 30/36 | €276,929 | €305,151 | +€28,221 | +10.2% |
| Total equity and liabilities | 10/49 | €649,583 | €591,214 | -€58,368 | -9.0% |
| Equity | 10/15 | -€73,878 | -€11,006 | +€62,872 | +85.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,338 | -€31,466 | +€62,872 | +66.6% |
| Amounts payable | 17/49 | €723,460 | €602,220 | -€121,240 | -16.8% |
| Amounts payable after more than one year | 17 | €259,338 | €236,891 | -€22,446 | -8.7% |
| Financial debts | 170/4 | €259,338 | €236,891 | -€22,446 | -8.7% |
| Amounts payable within one year | 42/48 | €464,122 | €365,329 | -€98,794 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | €86,294 | - | -€86,294 | |
| Financial debts | 43 | €46,872 | €104,797 | +€57,924 | +123.6% |
| Credit institutions | 430/8 | €46,872 | €104,797 | +€57,924 | +123.6% |
| Trade debts | 44 | - | €10,506 | +€10,506 | |
| Suppliers | 440/4 | - | €10,506 | +€10,506 | |
| Other amounts payable | 47/48 | €330,956 | €250,026 | -€80,930 | -24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,075 | €30,884 | -€6,191 | -16.7% |
| Other operating charges | 640/8 | €1,234 | €757 | -€477 | -38.6% |
| Gross operating margin | 9900 | €89,661 | €114,218 | +€24,557 | +27.4% |
| Operating profit (loss) | 9901 | €51,352 | €82,577 | +€31,225 | +60.8% |
| Financial charges | 65/66B | €16,678 | €19,705 | +€3,027 | +18.2% |
| Recurring financial charges | 65 | €16,678 | €19,705 | +€3,027 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | €34,674 | €62,872 | +€28,198 | +81.3% |
| Profit (loss) for the period | 9904 | €34,674 | €62,872 | +€28,198 | +81.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,674 | €62,872 | +€28,198 | +81.3% |
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 3 October 2026 via checked.be.