SHATAL: 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.
What changed
SHATAL
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€270,351
2024 · €827,946-€557,595
Equity
€19.3m
2024 · €19.0m+€270,351
Cash
€62,514
2024 · €18,605+€43,909
Balance sheet total
€35.0m
2024 · €36.1m-€1.1m
Largest movements
Assets
- Tangible fixed assets -€1.1m
down €1.1m (-7.1%), from €15.4m to €14.3m
of which Land and buildings: -€1.1m
- Receivables within one year +€432,895
up €432,895 (+619.0%), from €69,929 to €502,824
of which Other amounts receivable: +€432,306
- Financial fixed assets -€414,542
down €414,542 (-2.0%), from €20.4m to €20.0m
Equity and liabilities
- Debts after one year -€1.2m
down €1.2m (-7.4%), from €15.8m to €14.6m
Income statement
- Financial income -€1.4m
down €1.4m (-92.2%), from €1.5m to €117,652
- Turnover +€1.4m
new in 2025: €1.4m
- Gross operating margin +€632,414
up €632,414 (+53.0%), from €1.2m to €1.8m
- Purchases and services +€168,079
new in 2025: €168,079
- Taxes -€153,862
down €153,862 (-60.7%), from €253,512 to €99,651
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
€827,946
Gross operating margin
+€632,414
Depreciation
+€15,119
Other operating charges
-€52,778
Other operating items
+€62,691
Financial income
-€1.4m
Financial charges
+€18,602
Taxes
+€153,862
Result 2025
€270,351
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.
From operations
+€673,377
Investment
+€546,512
Financing
-€1.2m
Cash 2024
€18,605
From operations (derived)
+€673,377
Net result for the year
+€270,351
Depreciation
+€952,960
Receivables after one year
+€120,000
Receivables within one year
-€432,895
Deferred charges and accrued income
-€64,021
Trade debts
-€38,249
Tax, wage and social debts
+€15,234
Other debts
-€38,793
Accrued charges and deferred income
-€111,210
Investment (derived)
+€546,512
Investment in fixed assets (net)
+€546,512
Financing
-€1.2m
Debts after one year
-€1.2m
Current portion of long-term debt
+€480
Cash 2025
€62,514
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €36,052,103 | €34,973,457 | -€1.1m | -3.0% |
| Fixed assets | 21/28 | €35,801,395 | €34,301,924 | -€1.5m | -4.2% |
| Tangible fixed assets | 22/27 | €15,370,003 | €14,285,074 | -€1.1m | -7.1% |
| Land and buildings | 22 | €15,266,659 | €14,200,781 | -€1.1m | -7.0% |
| Plant, machinery and equipment | 23 | €79,633 | €64,372 | -€15,261 | -19.2% |
| Furniture and vehicles | 24 | €23,711 | €19,921 | -€3,791 | -16.0% |
| Financial fixed assets | 28 | €20,431,392 | €20,016,850 | -€414,542 | -2.0% |
| Current assets | 29/58 | €250,708 | €671,533 | +€420,825 | +167.9% |
| Amounts receivable after more than one year | 29 | €120,000 | - | -€120,000 | |
| Other amounts receivable | 291 | €120,000 | - | -€120,000 | |
| Amounts receivable within one year | 40/41 | €69,929 | €502,824 | +€432,895 | +619.0% |
| Trade receivables | 40 | €1,905 | €2,493 | +€589 | +30.9% |
| Other amounts receivable | 41 | €68,025 | €500,331 | +€432,306 | +635.5% |
| Cash at bank and in hand | 54/58 | €18,605 | €62,514 | +€43,909 | +236.0% |
| Deferred charges and accrued income | 490/1 | €42,174 | €106,195 | +€64,021 | +151.8% |
| Total equity and liabilities | 10/49 | €36,052,103 | €34,973,457 | -€1.1m | -3.0% |
| Equity | 10/15 | €19,036,900 | €19,307,252 | +€270,351 | +1.4% |
| Contributions | 10/11 | €7,562 | €7,562 | = | 0.0% |
| Reserves | 13 | €19,029,338 | €19,299,689 | +€270,351 | +1.4% |
| Tax-exempt reserves | 132 | €54,338 | €54,338 | = | 0.0% |
| Distributable reserves | 133 | €18,975,000 | €19,245,351 | +€270,351 | +1.4% |
| Amounts payable | 17/49 | €17,015,203 | €15,666,206 | -€1.3m | -7.9% |
| Amounts payable after more than one year | 17 | €15,798,089 | €14,621,630 | -€1.2m | -7.4% |
| Financial debts | 170/4 | €15,798,089 | €14,621,630 | -€1.2m | -7.4% |
| Amounts payable within one year | 42/48 | €960,614 | €899,286 | -€61,329 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €636,181 | €636,661 | +€480 | +0.1% |
| Trade debts | 44 | €42,711 | €4,462 | -€38,249 | -89.6% |
| Suppliers | 440/4 | €42,711 | €4,462 | -€38,249 | -89.6% |
| Taxes, remuneration and social security | 45 | €242,929 | €258,163 | +€15,234 | +6.3% |
| Taxes | 450/3 | €242,929 | €258,163 | +€15,234 | +6.3% |
| Other amounts payable | 47/48 | €38,793 | - | -€38,793 | |
| Accrued charges and deferred income | 492/3 | €256,500 | €145,290 | -€111,210 | -43.4% |
| Turnover | 70 | - | €1,367,047 | +€1.4m | |
| Non-recurring operating income | 76A | - | €218,500 | +€218,500 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €168,079 | +€168,079 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €968,079 | €952,960 | -€15,119 | -1.6% |
| Other operating charges | 640/8 | €3,346 | €56,123 | +€52,778 | +1577.5% |
| Non-recurring operating charges | 66A | €62,691 | - | -€62,691 | |
| Gross operating margin | 9900 | €1,192,780 | €1,825,194 | +€632,414 | +53.0% |
| Operating profit (loss) | 9901 | €158,665 | €816,112 | +€657,447 | +414.4% |
| Financial income | 75/76B | €1,505,157 | €117,652 | -€1.4m | -92.2% |
| Recurring financial income | 75 | €1,505,157 | €117,652 | -€1.4m | -92.2% |
| Financial charges | 65/66B | €582,364 | €563,762 | -€18,602 | -3.2% |
| Recurring financial charges | 65 | €582,364 | €563,762 | -€18,602 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €1,081,458 | €370,002 | -€711,457 | -65.8% |
| Income taxes | 67/77 | €253,512 | €99,651 | -€153,862 | -60.7% |
| Profit (loss) for the period | 9904 | €827,946 | €270,351 | -€557,595 | -67.3% |
| Profit (loss) for the period to be appropriated | 9905 | €827,946 | €270,351 | -€557,595 | -67.3% |
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 30 September 2026 via checked.be.