FALCON 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.
What changed
FALCON IMMO
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
-€81,437
2024 · -€89,936+€8,499
Equity
€25,967
2024 · €107,404-€81,437
Cash
€1,543
2024 · €15,345-€13,802
Balance sheet total
€2.9m
2024 · €2.9m-€84,703
Largest movements
Assets
- Tangible fixed assets -€70,518
down €70,518 (-2.4%), from €2.9m to €2.9m
of which Land and buildings: -€72,836
Equity and liabilities
- Profit (loss) carried forward -€81,437
down €81,437 (-42.3%), from -€192,596 to -€274,033
Income statement
- Gross operating margin +€53,841
up €53,841 (+186.6%), from €28,852 to €82,693
- Financial charges +€33,083
up €33,083 (+86.5%), from €38,225 to €71,309
- Depreciation +€6,950
up €6,950 (+9.4%), from €74,264 to €81,214
- Other operating charges +€5,308
up €5,308 (+84.3%), from €6,299 to €11,607
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
-€89,936
Gross operating margin
+€53,841
Depreciation
-€6,950
Other operating charges
-€5,308
Financial charges
-€33,083
Result 2025
-€81,437
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
+€8,726
Investment
-€10,696
Financing
-€11,832
Cash 2024
€15,345
From operations (derived)
+€8,726
Net result for the year
-€81,437
Depreciation
+€81,214
Receivables after one year
+€1,966
Deferred charges and accrued income
-€1,583
Trade debts
+€348
Tax, wage and social debts
+€6,676
Accrued charges and deferred income
+€1,542
Investment (derived)
-€10,696
Investment in fixed assets (net)
-€10,696
Financing
-€11,832
Debts after one year
-€14,085
Current portion of long-term debt
+€2,253
Cash 2025
€1,543
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,942,169 | €2,857,465 | -€84,703 | -2.9% |
| Fixed assets | 21/28 | €2,922,186 | €2,851,668 | -€70,518 | -2.4% |
| Tangible fixed assets | 22/27 | €2,922,186 | €2,851,668 | -€70,518 | -2.4% |
| Land and buildings | 22 | €2,860,970 | €2,788,134 | -€72,836 | -2.5% |
| Plant, machinery and equipment | 23 | €28,532 | €35,650 | +€7,118 | +24.9% |
| Furniture and vehicles | 24 | €14,834 | €10,034 | -€4,800 | -32.4% |
| Assets under construction and advance payments | 27 | €17,850 | €17,850 | = | 0.0% |
| Current assets | 29/58 | €19,983 | €5,798 | -€14,185 | -71.0% |
| Amounts receivable after more than one year | 29 | €1,966 | - | -€1,966 | |
| Other amounts receivable | 291 | €1,966 | - | -€1,966 | |
| Cash at bank and in hand | 54/58 | €15,345 | €1,543 | -€13,802 | -89.9% |
| Deferred charges and accrued income | 490/1 | €2,671 | €4,254 | +€1,583 | +59.3% |
| Total equity and liabilities | 10/49 | €2,942,169 | €2,857,465 | -€84,703 | -2.9% |
| Equity | 10/15 | €107,404 | €25,967 | -€81,437 | -75.8% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€192,596 | -€274,033 | -€81,437 | -42.3% |
| Amounts payable | 17/49 | €2,834,765 | €2,831,498 | -€3,267 | -0.1% |
| Amounts payable after more than one year | 17 | €2,554,972 | €2,540,888 | -€14,085 | -0.6% |
| Financial debts | 170/4 | €282,781 | €272,051 | -€10,730 | -3.8% |
| Other amounts payable | 178/9 | €2,272,192 | €2,268,837 | -€3,355 | -0.1% |
| Amounts payable within one year | 42/48 | €265,510 | €274,787 | +€9,277 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €218,408 | €220,661 | +€2,253 | +1.0% |
| Trade debts | 44 | €7 | €355 | +€348 | +5044.6% |
| Suppliers | 440/4 | €7 | €355 | +€348 | +5044.6% |
| Taxes, remuneration and social security | 45 | €7,095 | €13,771 | +€6,676 | +94.1% |
| Taxes | 450/3 | €7,095 | €13,771 | +€6,676 | +94.1% |
| Other amounts payable | 47/48 | €40,000 | €40,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €14,282 | €15,824 | +€1,542 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,264 | €81,214 | +€6,950 | +9.4% |
| Other operating charges | 640/8 | €6,299 | €11,607 | +€5,308 | +84.3% |
| Gross operating margin | 9900 | €28,852 | €82,693 | +€53,841 | +186.6% |
| Operating profit (loss) | 9901 | -€51,711 | -€10,128 | +€41,583 | +80.4% |
| Financial charges | 65/66B | €38,225 | €71,309 | +€33,083 | +86.5% |
| Recurring financial charges | 65 | €38,225 | €71,309 | +€33,083 | +86.5% |
| Profit (loss) for the period before taxes | 9903 | -€89,936 | -€81,437 | +€8,499 | +9.5% |
| Profit (loss) for the period | 9904 | -€89,936 | -€81,437 | +€8,499 | +9.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€89,936 | -€81,437 | +€8,499 | +9.5% |
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 5 October 2026 via checked.be.