FF REAL ESTATE: 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.
FF REAL ESTATE
Largest movements
- Cash -€221,197
down €221,197 (-88.0%), from €251,438 to €30,241
mainly Debts after one year (-€360,343) and Net result for the year (-€135,390)
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Deferred charges and accrued income -€52,620
down €52,620 (-94.7%), from €55,568 to €2,948
- Tangible fixed assets -€48,911
down €48,911 (-1.2%), from €4.0m to €3.9m
of which Furniture and vehicles: -€100,637
- Debts after one year -€360,343
down €360,343 (-11.0%), from €3.3m to €2.9m
- Other debts +€298,152
up €298,152 (+687%), from €43,378 to €341,530
- Profit (loss) carried forward -€135,390
down €135,390, from €0 to -€135,390
- Reserves -€89,685
down €89,685 (-15.0%), from €598,833 to €509,148
- Current portion of long-term debt -€77,793
down €77,793 (-27.1%), from €287,269 to €209,476
- Gross operating margin -€675,524
down €675,524 (-80.6%), from €838,401 to €162,877
- Staff costs -€230,026
down €230,026 (-100%), from €230,026 to €0
- Depreciation -€17,114
down €17,114 (-9.3%), from €183,627 to €166,513
- Taxes -€12,194
down €12,194 (-46.7%), from €26,109 to €13,914
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.
Derived cash bridge
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 | €4,457,917 | €4,000,721 | -€457,196 | -10.3% |
| Fixed assets | 21/28 | €3,986,148 | €3,937,071 | -€49,077 | -1.2% |
| Tangible fixed assets | 22/27 | €3,985,982 | €3,937,071 | -€48,911 | -1.2% |
| Land and buildings | 22 | €3,632,993 | €3,716,010 | +€83,017 | +2.3% |
| Plant, machinery and equipment | 23 | €66,852 | €43,511 | -€23,341 | -34.9% |
| Furniture and vehicles | 24 | €100,637 | €0 | -€100,637 | -100% |
| Other tangible fixed assets | 26 | €185,500 | €177,550 | -€7,950 | -4.3% |
| Financial fixed assets | 28 | €166 | €0 | -€166 | -100% |
| Current assets | 29/58 | €471,769 | €63,650 | -€408,118 | -86.5% |
| Amounts receivable within one year | 40/41 | €64,763 | €30,461 | -€34,302 | -53.0% |
| Trade receivables | 40 | €40,391 | €0 | -€40,391 | -100% |
| Other amounts receivable | 41 | €24,372 | €30,461 | +€6,089 | +25.0% |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €251,438 | €30,241 | -€221,197 | -88.0% |
| Deferred charges and accrued income | 490/1 | €55,568 | €2,948 | -€52,620 | -94.7% |
| Total equity and liabilities | 10/49 | €4,457,917 | €4,000,721 | -€457,196 | -10.3% |
| Equity | 10/15 | €685,833 | €447,729 | -€238,104 | -34.7% |
| Contributions | 10/11 | €87,000 | €73,970 | -€13,030 | -15.0% |
| Reserves | 13 | €598,833 | €509,148 | -€89,685 | -15.0% |
| Distributable reserves | 133 | €598,833 | €509,148 | -€89,685 | -15.0% |
| Profit (loss) carried forward | 14 | €0 | -€135,390 | -€135,390 | |
| Amounts payable | 17/49 | €3,772,084 | €3,552,992 | -€219,091 | -5.8% |
| Amounts payable after more than one year | 17 | €3,288,219 | €2,927,876 | -€360,343 | -11.0% |
| Financial debts | 170/4 | €3,288,219 | €2,927,876 | -€360,343 | -11.0% |
| Amounts payable within one year | 42/48 | €433,104 | €577,523 | +€144,419 | +33.3% |
| Current portion of amounts payable after more than one year | 42 | €287,269 | €209,476 | -€77,793 | -27.1% |
| Financial debts | 43 | €8,438 | €8,415 | -€23 | -0.3% |
| Credit institutions | 430/8 | €8,438 | €8,415 | -€23 | -0.3% |
| Trade debts | 44 | €67,883 | €3,017 | -€64,866 | -95.6% |
| Suppliers | 440/4 | €67,883 | €3,017 | -€64,866 | -95.6% |
| Taxes, remuneration and social security | 45 | €26,136 | €15,085 | -€11,051 | -42.3% |
| Taxes | 450/3 | €815 | €15,085 | +€14,270 | +1,750% |
| Remuneration and social security | 454/9 | €25,321 | €0 | -€25,321 | -100% |
| Other amounts payable | 47/48 | €43,378 | €341,530 | +€298,152 | +687% |
| Accrued charges and deferred income | 492/3 | €50,761 | €47,593 | -€3,168 | -6.2% |
| Remuneration, social security and pensions | 62 | €230,026 | €0 | -€230,026 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183,627 | €166,513 | -€17,114 | -9.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €16,929 | €19,690 | +€2,761 | +16.3% |
| Gross operating margin | 9900 | €838,401 | €162,877 | -€675,524 | -80.6% |
| Operating profit (loss) | 9901 | €407,820 | -€23,326 | -€431,146 | |
| Financial income | 75/76B | €986 | €8,546 | +€7,559 | +766% |
| Recurring financial income | 75 | €986 | €8,546 | +€7,559 | +766% |
| Financial charges | 65/66B | €112,527 | €106,695 | -€5,832 | -5.2% |
| Recurring financial charges | 65 | €112,527 | €106,695 | -€5,832 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €296,279 | -€121,476 | -€417,755 | |
| Income taxes | 67/77 | €26,109 | €13,914 | -€12,194 | -46.7% |
| Profit (loss) for the period | 9904 | €270,170 | -€135,390 | -€405,560 | |
| Profit (loss) for the period to be appropriated | 9905 | €270,170 | -€135,390 | -€405,560 |
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 1 November 2026 via checked.be.