FALCON-X: 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.
FALCON-X
Largest movements
- Receivables within one year -€21,473
down €21,473 (-62.0%), from €34,646 to €13,172
of which Trade receivables: -€22,242
- Tangible fixed assets -€20,838
down €20,838 (-21.8%), from €95,375 to €74,537
- Cash +€11,901
up €11,901 (+114.4%), from €10,404 to €22,305
mainly Depreciation (+€23,076) and Receivables within one year (+€21,473)
- Debts after one year -€23,049
down €23,049 (-37.9%), from €60,883 to €37,835
- Tax, wage and social debts -€10,921
down €10,921 (-86.1%), from €12,681 to €1,760
of which Taxes: -€5,730
- Reserves +€6,839
up €6,839 (+23.9%), from €28,633 to €35,472
- Other debts -€2,694
down €2,694 (-23.5%), from €11,450 to €8,756
- Depreciation +€13,029
up €13,029 (+129.7%), from €10,047 to €23,076
- Gross operating margin +€10,906
up €10,906 (+18.8%), from €57,863 to €68,769
- Staff costs -€2,450
down €2,450 (-8.2%), from €29,811 to €27,361
- Financial charges -€2,023
down €2,023 (-34.5%), from €5,868 to €3,845
- Taxes +€1,524
up €1,524 (+53.5%), from €2,847 to €4,370
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 | €140,424 | €110,014 | -€30,411 | -21.7% |
| Fixed assets | 21/28 | €95,375 | €74,537 | -€20,838 | -21.8% |
| Tangible fixed assets | 22/27 | €95,375 | €74,537 | -€20,838 | -21.8% |
| Land and buildings | 22 | €4,764 | €4,218 | -€546 | -11.5% |
| Plant, machinery and equipment | 23 | €1,973 | €1,003 | -€970 | -49.2% |
| Furniture and vehicles | 24 | €38,878 | €29,787 | -€9,091 | -23.4% |
| Leasing and similar rights | 25 | €49,760 | €39,528 | -€10,232 | -20.6% |
| Current assets | 29/58 | €45,049 | €35,477 | -€9,572 | -21.2% |
| Amounts receivable within one year | 40/41 | €34,646 | €13,172 | -€21,473 | -62.0% |
| Trade receivables | 40 | €31,136 | €8,894 | -€22,242 | -71.4% |
| Other amounts receivable | 41 | €3,510 | €4,278 | +€768 | +21.9% |
| Cash at bank and in hand | 54/58 | €10,404 | €22,305 | +€11,901 | +114.4% |
| Total equity and liabilities | 10/49 | €140,424 | €110,014 | -€30,411 | -21.7% |
| Equity | 10/15 | €29,633 | €36,472 | +€6,839 | +23.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €28,633 | €35,472 | +€6,839 | +23.9% |
| Distributable reserves | 133 | €28,633 | €35,472 | +€6,839 | +23.9% |
| Amounts payable | 17/49 | €110,791 | €73,541 | -€37,250 | -33.6% |
| Amounts payable after more than one year | 17 | €60,883 | €37,835 | -€23,049 | -37.9% |
| Financial debts | 170/4 | €60,883 | €37,835 | -€23,049 | -37.9% |
| Amounts payable within one year | 42/48 | €48,424 | €35,074 | -€13,351 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €22,768 | €23,914 | +€1,145 | +5.0% |
| Trade debts | 44 | €1,525 | €644 | -€881 | -57.8% |
| Suppliers | 440/4 | €1,525 | €644 | -€881 | -57.8% |
| Taxes, remuneration and social security | 45 | €12,681 | €1,760 | -€10,921 | -86.1% |
| Taxes | 450/3 | €7,490 | €1,760 | -€5,730 | -76.5% |
| Remuneration and social security | 454/9 | €5,191 | - | -€5,191 | |
| Other amounts payable | 47/48 | €11,450 | €8,756 | -€2,694 | -23.5% |
| Accrued charges and deferred income | 492/3 | €1,483 | €633 | -€850 | -57.3% |
| Non-recurring operating income | 76A | €6,579 | - | -€6,579 | |
| Remuneration, social security and pensions | 62 | €29,811 | €27,361 | -€2,450 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,047 | €23,076 | +€13,029 | +129.7% |
| Other operating charges | 640/8 | €1,486 | €1,770 | +€284 | +19.1% |
| Non-recurring operating charges | 66A | €2,991 | - | -€2,991 | |
| Gross operating margin | 9900 | €57,863 | €68,769 | +€10,906 | +18.8% |
| Operating profit (loss) | 9901 | €13,528 | €16,563 | +€3,035 | +22.4% |
| Financial income | 75/76B | €11 | €93 | +€82 | +727.3% |
| Recurring financial income | 75 | €11 | €93 | +€82 | +727.3% |
| Financial charges | 65/66B | €5,868 | €3,845 | -€2,023 | -34.5% |
| Recurring financial charges | 65 | €5,868 | €3,845 | -€2,023 | -34.5% |
| Profit (loss) for the period before taxes | 9903 | €7,672 | €12,812 | +€5,140 | +67.0% |
| Income taxes | 67/77 | €2,847 | €4,370 | +€1,524 | +53.5% |
| Profit (loss) for the period | 9904 | €4,825 | €8,441 | +€3,616 | +74.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,825 | €8,441 | +€3,616 | +74.9% |
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 6 October 2026 via checked.be.