FALCON TRADE: 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
FALCON TRADE
NACE 64.210, Activities of holding companies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€879,677
2024 · €1.0m-€167,885
Equity
€10.1m
2024 · €9.3m+€872,992
Cash
€404,349
2024 · €304,990+€99,358
Balance sheet total
€18.3m
2024 · €18.4m-€75,972
Largest movements
Assets
- Tangible fixed assets -€233,481
down €233,481 (-2.7%), from €8.6m to €8.4m
of which Land and buildings: -€408,617
- Receivables after one year +€219,881
up €219,881 (+26.0%), from €847,203 to €1.1m
Equity and liabilities
- Debts after one year -€979,282
down €979,282 (-13.1%), from €7.5m to €6.5m
of which Financial debts: -€979,282
- Profit (loss) carried forward +€879,677
up €879,677 (+22.0%), from €4.0m to €4.9m
Income statement
- Other operating income -€167,277
down €167,277 (-21.3%), from €784,000 to €616,723
- Services and other goods +€120,470
up €120,470 (+16.5%), from €731,891 to €852,361
- Financial income +€75,414
up €75,414 (+7.6%), from €987,221 to €1.1m
- Turnover -€23,137
down €23,137 (-1.2%), from €1.9m to €1.9m
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
€1.0m
Turnover
-€23,137
Other operating income
-€167,277
Services and other goods
-€120,470
Staff costs
+€867
Depreciation
-€12,092
Other operating charges
-€18,455
Other operating items
+€61,653
Financial income
+€75,414
Financial charges
+€17,142
Taxes
+€18,471
Result 2025
€879,677
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
+€1.3m
Investment
-€258,022
Financing
-€964,476
Cash 2024
€304,990
From operations (derived)
+€1.3m
Net result for the year
+€879,677
Depreciation
+€491,368
Receivables after one year
-€219,881
Receivables within one year
+€169,587
Deferred charges and accrued income
-€7,723
Trade debts
+€102,188
Tax, wage and social debts
+€8,271
Other debts
-€100,000
Accrued charges and deferred income
-€1,631
Investment (derived)
-€258,022
Investment in fixed assets (net)
-€258,022
Financing
-€964,476
Debts after one year
-€979,282
Current portion of long-term debt
+€21,567
Short-term financial debts
-€77
Contributions, distributions and other
-€6,684
Cash 2025
€404,349
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,405,703 | €18,329,731 | -€75,972 | -0.4% |
| Fixed assets | 21/28 | €15,660,394 | €15,427,047 | -€233,346 | -1.5% |
| Tangible fixed assets | 22/27 | €8,611,720 | €8,378,238 | -€233,481 | -2.7% |
| Land and buildings | 22 | €8,345,960 | €7,937,343 | -€408,617 | -4.9% |
| Plant, machinery and equipment | 23 | €104,209 | €52,104 | -€52,104 | -50.0% |
| Furniture and vehicles | 24 | €42,911 | €126,846 | +€83,935 | +195.6% |
| Assets under construction and advance payments | 27 | €118,640 | €261,945 | +€143,305 | +120.8% |
| Financial fixed assets | 28 | €7,048,674 | €7,048,809 | +€135 | 0.0% |
| Affiliated companies | 280/1 | €7,048,221 | €7,048,221 | = | 0.0% |
| Participating interests | 280 | €7,048,221 | €7,048,221 | = | 0.0% |
| Other financial fixed assets | 284/8 | €453 | €588 | +€135 | +29.8% |
| Amounts receivable and cash guarantees | 285/8 | €453 | €588 | +€135 | +29.8% |
| Current assets | 29/58 | €2,745,309 | €2,902,683 | +€157,375 | +5.7% |
| Amounts receivable after more than one year | 29 | €847,203 | €1,067,084 | +€219,881 | +26.0% |
| Other amounts receivable | 291 | €847,203 | €1,067,084 | +€219,881 | +26.0% |
| Amounts receivable within one year | 40/41 | €1,580,793 | €1,411,206 | -€169,587 | -10.7% |
| Trade receivables | 40 | €400,983 | €431,929 | +€30,946 | +7.7% |
| Other amounts receivable | 41 | €1,179,810 | €979,277 | -€200,533 | -17.0% |
| Cash at bank and in hand | 54/58 | €304,990 | €404,349 | +€99,358 | +32.6% |
| Deferred charges and accrued income | 490/1 | €12,322 | €20,045 | +€7,723 | +62.7% |
| Total equity and liabilities | 10/49 | €18,405,703 | €18,329,731 | -€75,972 | -0.4% |
| Equity | 10/15 | €9,251,592 | €10,124,585 | +€872,992 | +9.4% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €5,012,500 | €5,012,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €5,000,000 | €5,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,999,876 | €4,879,553 | +€879,677 | +22.0% |
| Investment grants | 15 | €114,216 | €107,532 | -€6,684 | -5.9% |
| Amounts payable | 17/49 | €9,154,111 | €8,205,146 | -€948,964 | -10.4% |
| Amounts payable after more than one year | 17 | €7,471,810 | €6,492,528 | -€979,282 | -13.1% |
| Financial debts | 170/4 | €7,461,810 | €6,482,528 | -€979,282 | -13.1% |
| Subordinated loans | 170 | €816,864 | €641,658 | -€175,206 | -21.4% |
| Credit institutions | 173 | €6,644,946 | €5,840,870 | -€804,076 | -12.1% |
| Other amounts payable | 178/9 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,676,767 | €1,708,716 | +€31,949 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €962,939 | €984,506 | +€21,567 | +2.2% |
| Financial debts | 43 | €83,757 | €83,681 | -€77 | -0.1% |
| Credit institutions | 430/8 | €83,757 | €83,681 | -€77 | -0.1% |
| Trade debts | 44 | €95,041 | €197,229 | +€102,188 | +107.5% |
| Suppliers | 440/4 | €95,041 | €197,229 | +€102,188 | +107.5% |
| Taxes, remuneration and social security | 45 | €209,030 | €217,301 | +€8,271 | +4.0% |
| Taxes | 450/3 | €34,478 | €35,738 | +€1,261 | +3.7% |
| Remuneration and social security | 454/9 | €174,552 | €181,562 | +€7,011 | +4.0% |
| Other amounts payable | 47/48 | €326,000 | €226,000 | -€100,000 | -30.7% |
| Accrued charges and deferred income | 492/3 | €5,533 | €3,902 | -€1,631 | -29.5% |
| Operating income | 70/76A | €2,758,333 | €2,514,544 | -€243,789 | -8.8% |
| Turnover | 70 | €1,920,958 | €1,897,821 | -€23,137 | -1.2% |
| Other operating income | 74 | €784,000 | €616,723 | -€167,277 | -21.3% |
| Non-recurring operating income | 76A | €53,375 | - | -€53,375 | |
| Operating charges | 60/66A | €2,521,106 | €2,556,229 | +€35,123 | +1.4% |
| Services and other goods | 61 | €731,891 | €852,361 | +€120,470 | +16.5% |
| Remuneration, social security and pensions | 62 | €1,175,627 | €1,174,761 | -€867 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €479,276 | €491,368 | +€12,092 | +2.5% |
| Other operating charges | 640/8 | €19,284 | €37,739 | +€18,455 | +95.7% |
| Non-recurring operating charges | 66A | €115,028 | - | -€115,028 | |
| Operating profit (loss) | 9901 | €237,226 | -€41,685 | -€278,912 | |
| Financial income | 75/76B | €987,221 | €1,062,636 | +€75,414 | +7.6% |
| Recurring financial income | 75 | €987,221 | €1,062,636 | +€75,414 | +7.6% |
| Income from financial fixed assets | 750 | €965,621 | €1,053,324 | +€87,703 | +9.1% |
| Income from current assets | 751 | €2,132 | €1,601 | -€530 | -24.9% |
| Other financial income | 752/9 | €19,469 | €7,710 | -€11,759 | -60.4% |
| Financial charges | 65/66B | €158,334 | €141,192 | -€17,142 | -10.8% |
| Recurring financial charges | 65 | €158,334 | €141,192 | -€17,142 | -10.8% |
| Debt charges | 650 | €154,099 | €138,007 | -€16,092 | -10.4% |
| Other financial charges | 652/9 | €4,235 | €3,185 | -€1,050 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €1,066,114 | €879,758 | -€186,355 | -17.5% |
| Income taxes | 67/77 | €18,552 | €82 | -€18,471 | -99.6% |
| Taxes | 670/3 | €18,638 | €480 | -€18,157 | -97.4% |
| Tax adjustments and reversals of tax provisions | 77 | €85 | €399 | +€314 | +369.1% |
| Profit (loss) for the period | 9904 | €1,047,561 | €879,677 | -€167,885 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,047,561 | €879,677 | -€167,885 | -16.0% |
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 11 October 2026 via checked.be.