The Balcony is a play that intricately explores the dynamics of power and identity through its major characters, set against the backdrop of a brothel known for its role-playing fantasies. At the center of this world is Irma, the proprietress referred to as The Queen, who navigates her business with a mix of ambition and fragile alliances, particularly with her favored employee, Carmen, and the politically ambitious Chief of Police, George. Each character embodies various societal roles, such as the Bishop and The Judge, who transition from clients to participants in Irma's elaborate regime, highlighting themes of governance and authority.

Carmen, who serves as a bookkeeper and spy, contrasts sharply with Chantal, a former employee who seeks freedom and ultimately meets a tragic end due to the machinations of the powerful. Roger, Chantal's lover, grapples with his desire for control, ultimately taking on the role of Chief of Police in a dark twist of fate. The ensemble is completed by figures like The Executioner and The Envoy, who add depth to the play’s commentary on loyalty and revolution, underscoring the tension between personal ambition and collective upheaval. Each character's journey reflects a complex interplay of desire, betrayal, and the search for identity within a society on the brink of change.