SHAHAR IMMO: 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.
SHAHAR IMMO
Largest movements
- Receivables within one year +€30,883
up €30,883 (+16.2%), from €191,084 to €221,967
of which Other amounts receivable: +€22,098
- Cash -€19,854
down €19,854 (-51.1%), from €38,824 to €18,970
mainly Receivables within one year (-€30,883) and Debts after one year (-€9,659)
- Tangible fixed assets -€18,688
down €18,688 (-4.8%), from €385,873 to €367,185
of which Land and buildings: -€18,525
- Reserves +€9,748
up €9,748 (+3.9%), from €248,861 to €258,610
of which Distributable reserves: +€9,748
- Debts after one year -€9,659
down €9,659 (-7.9%), from €121,955 to €112,296
of which Financial debts: -€9,659
- Gross operating margin -€25,130
down €25,130 (-41.0%), from €61,316 to €36,186
- Taxes -€5,615
down €5,615 (-60.6%), from €9,266 to €3,651
- Financial charges -€2,923
down €2,923 (-88.2%), from €3,314 to €391
- Financial income +€1,218
up €1,218 (+49.1%), from €2,482 to €3,700
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €615,781 | €608,123 | -€7,658 | -1.2% |
| Fixed assets | 21/28 | €385,873 | €367,185 | -€18,688 | -4.8% |
| Tangible fixed assets | 22/27 | €385,873 | €367,185 | -€18,688 | -4.8% |
| Land and buildings | 22 | €385,710 | €367,185 | -€18,525 | -4.8% |
| Plant, machinery and equipment | 23 | €163 | - | -€163 | |
| Current assets | 29/58 | €229,908 | €240,938 | +€11,029 | +4.8% |
| Amounts receivable within one year | 40/41 | €191,084 | €221,967 | +€30,883 | +16.2% |
| Trade receivables | 40 | €31,065 | €39,850 | +€8,785 | +28.3% |
| Other amounts receivable | 41 | €160,019 | €182,117 | +€22,098 | +13.8% |
| Cash at bank and in hand | 54/58 | €38,824 | €18,970 | -€19,854 | -51.1% |
| Total equity and liabilities | 10/49 | €615,781 | €608,123 | -€7,658 | -1.2% |
| Equity | 10/15 | €310,861 | €320,610 | +€9,748 | +3.1% |
| 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 | €248,861 | €258,610 | +€9,748 | +3.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €242,661 | €252,410 | +€9,748 | +4.0% |
| Amounts payable | 17/49 | €304,920 | €287,513 | -€17,407 | -5.7% |
| Amounts payable after more than one year | 17 | €121,955 | €112,296 | -€9,659 | -7.9% |
| Financial debts | 170/4 | €97,743 | €88,084 | -€9,659 | -9.9% |
| Other amounts payable | 178/9 | €24,212 | €24,212 | = | 0.0% |
| Amounts payable within one year | 42/48 | €181,720 | €175,217 | -€6,502 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €9,410 | €9,659 | +€249 | +2.7% |
| Financial debts | 43 | €114,750 | €114,750 | = | 0.0% |
| Other loans | 439 | €114,750 | €114,750 | = | 0.0% |
| Trade debts | 44 | €11,795 | €8,810 | -€2,985 | -25.3% |
| Suppliers | 440/4 | €11,795 | €8,810 | -€2,985 | -25.3% |
| Taxes, remuneration and social security | 45 | €15,617 | €10,002 | -€5,615 | -36.0% |
| Taxes | 450/3 | €15,617 | €10,002 | -€5,615 | -36.0% |
| Other amounts payable | 47/48 | €30,149 | €31,996 | +€1,848 | +6.1% |
| Accrued charges and deferred income | 492/3 | €1,245 | - | -€1,245 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,688 | €18,688 | -€0 | 0.0% |
| Other operating charges | 640/8 | €7,074 | €7,408 | +€333 | +4.7% |
| Gross operating margin | 9900 | €61,316 | €36,186 | -€25,130 | -41.0% |
| Operating profit (loss) | 9901 | €35,554 | €10,090 | -€25,463 | -71.6% |
| Financial income | 75/76B | €2,482 | €3,700 | +€1,218 | +49.1% |
| Recurring financial income | 75 | €2,482 | €3,700 | +€1,218 | +49.1% |
| Financial charges | 65/66B | €3,314 | €391 | -€2,923 | -88.2% |
| Recurring financial charges | 65 | €3,314 | €391 | -€2,923 | -88.2% |
| Profit (loss) for the period before taxes | 9903 | €34,721 | €13,400 | -€21,322 | -61.4% |
| Income taxes | 67/77 | €9,266 | €3,651 | -€5,615 | -60.6% |
| Profit (loss) for the period | 9904 | €25,455 | €9,748 | -€15,707 | -61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,455 | €9,748 | -€15,707 | -61.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.