IMMO SHALIRO: 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
IMMO SHALIRO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€5,917
2024 · €109,234-€115,151
Equity
€190,902
2024 · €196,819-€5,917
Cash
€8,528
2024 · €18,597-€10,069
Balance sheet total
€1.1m
2024 · €1.2m-€29,141
Largest movements
Assets
- Tangible fixed assets -€21,891
down €21,891 (-2.9%), from €746,102 to €724,211
Equity and liabilities
- Debts after one year -€18,665
down €18,665 (-4.6%), from €409,489 to €390,824
of which Financial debts: -€18,665
Income statement
- Gross operating margin -€264,521
down €264,521 (-90.6%), from €291,991 to €27,470
- Other operating charges -€110,308
down €110,308 (-96.2%), from €114,652 to €4,344
- Financial charges -€3,344
down €3,344 (-31.9%), from €10,496 to €7,152
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
€109,234
Gross operating margin
-€264,521
Other operating charges
+€110,308
Financial charges
+€3,344
Deferred taxes and other
+€35,718
Result 2025
-€5,917
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€9,645
Investment
€0
Financing
-€19,714
Cash 2024
€18,597
From operations (derived)
+€9,645
Net result for the year
-€5,917
Depreciation
+€21,891
Receivables within one year
-€3,614
Deferred charges and accrued income
+€795
Trade debts
-€210
Other debts
-€3,300
Financing
-€19,714
Debts after one year
-€18,665
Current portion of long-term debt
-€1,049
Cash 2025
€8,528
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,173,036 | €1,143,895 | -€29,141 | -2.5% |
| Fixed assets | 21/28 | €746,102 | €724,211 | -€21,891 | -2.9% |
| Tangible fixed assets | 22/27 | €746,102 | €724,211 | -€21,891 | -2.9% |
| Land and buildings | 22 | €746,102 | €724,211 | -€21,891 | -2.9% |
| Current assets | 29/58 | €426,934 | €419,684 | -€7,250 | -1.7% |
| Amounts receivable within one year | 40/41 | €407,542 | €411,156 | +€3,614 | +0.9% |
| Trade receivables | 40 | €400,000 | €400,000 | = | 0.0% |
| Other amounts receivable | 41 | €7,542 | €11,156 | +€3,614 | +47.9% |
| Cash at bank and in hand | 54/58 | €18,597 | €8,528 | -€10,069 | -54.1% |
| Deferred charges and accrued income | 490/1 | €795 | - | -€795 | |
| Total equity and liabilities | 10/49 | €1,173,036 | €1,143,895 | -€29,141 | -2.5% |
| Equity | 10/15 | €196,819 | €190,902 | -€5,917 | -3.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €134,819 | €128,902 | -€5,917 | -4.4% |
| Non-distributable reserves | 130/1 | €1,405 | €6,200 | +€4,795 | +341% |
| Legal reserve | 130 | €1,405 | €6,200 | +€4,795 | +341% |
| Tax-exempt reserves | 132 | €107,153 | €107,153 | = | 0.0% |
| Distributable reserves | 133 | €26,261 | €15,549 | -€10,712 | -40.8% |
| Provisions and deferred taxes | 16 | €35,718 | €35,718 | = | 0.0% |
| Deferred taxes | 168 | €35,718 | €35,718 | = | 0.0% |
| Amounts payable | 17/49 | €940,499 | €917,275 | -€23,224 | -2.5% |
| Amounts payable after more than one year | 17 | €409,489 | €390,824 | -€18,665 | -4.6% |
| Financial debts | 170/4 | €329,489 | €310,824 | -€18,665 | -5.7% |
| Other amounts payable | 178/9 | €80,000 | €80,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €531,010 | €526,451 | -€4,559 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €19,714 | €18,665 | -€1,049 | -5.3% |
| Trade debts | 44 | €485,194 | €484,984 | -€210 | 0.0% |
| Suppliers | 440/4 | €485,194 | €484,984 | -€210 | 0.0% |
| Other amounts payable | 47/48 | €26,102 | €22,802 | -€3,300 | -12.6% |
| Non-recurring operating income | 76A | €256,053 | - | -€256,053 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,891 | €21,891 | = | 0.0% |
| Other operating charges | 640/8 | €114,652 | €4,344 | -€110,308 | -96.2% |
| Gross operating margin | 9900 | €291,991 | €27,470 | -€264,521 | -90.6% |
| Operating profit (loss) | 9901 | €155,448 | €1,235 | -€154,213 | -99.2% |
| Financial charges | 65/66B | €10,496 | €7,152 | -€3,344 | -31.9% |
| Recurring financial charges | 65 | €10,496 | €7,152 | -€3,344 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | €144,952 | -€5,917 | -€150,869 | |
| Transfer to deferred taxes | 680 | €35,718 | - | -€35,718 | |
| Profit (loss) for the period | 9904 | €109,234 | -€5,917 | -€115,151 | |
| Transfer to tax-exempt reserves | 689 | €107,153 | - | -€107,153 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,081 | -€5,917 | -€7,998 |
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 28 October 2026 via checked.be.