SHIRMA: 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
SHIRMA
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
€30,099
2024 · €29,500+€599
Equity
€714,200
2024 · €684,101+€30,099
Cash
€62,868
2024 · €71,797-€8,929
Balance sheet total
€2.9m
2024 · €3.0m-€104,768
Largest movements
Assets
- Tangible fixed assets -€91,924
down €91,924 (-6.1%), from €1.5m to €1.4m
of which Land and buildings: -€74,984
Equity and liabilities
- Debts after one year -€116,737
down €116,737 (-6.9%), from €1.7m to €1.6m
of which Financial debts: -€110,334
- Profit (loss) carried forward +€51,417
up €51,417 (+49.0%), from €105,000 to €156,417
Income statement
- Gross operating margin +€2,812
up €2,812 (+1.5%), from €182,636 to €185,448
- Depreciation +€2,803
up €2,803 (+3.1%), from €89,121 to €91,924
- Taxes +€2,773
up €2,773 (+18.3%), from €15,188 to €17,961
- Other operating charges -€2,423
down €2,423 (-10.1%), from €24,102 to €21,679
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
€29,500
Gross operating margin
+€2,812
Depreciation
-€2,803
Other operating charges
+€2,423
Financial income
-€801
Financial charges
+€1,741
Taxes
-€2,773
Result 2025
€30,099
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
+€106,186
Investment
€0
Financing
-€115,115
Cash 2024
€71,797
From operations (derived)
+€106,186
Net result for the year
+€30,099
Depreciation
+€91,924
Receivables within one year
-€1,039
Deferred charges and accrued income
+€4,954
Trade debts
-€5,085
Tax, wage and social debts
-€990
Other debts
-€13,552
Accrued charges and deferred income
-€124
Financing
-€115,115
Debts after one year
-€116,737
Current portion of long-term debt
+€1,498
Short-term financial debts
+€124
Cash 2025
€62,868
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,048,924 | €2,944,156 | -€104,768 | -3.4% |
| Fixed assets | 21/28 | €2,969,447 | €2,877,523 | -€91,924 | -3.1% |
| Tangible fixed assets | 22/27 | €1,511,114 | €1,419,190 | -€91,924 | -6.1% |
| Land and buildings | 22 | €1,465,521 | €1,390,537 | -€74,984 | -5.1% |
| Plant, machinery and equipment | 23 | €189 | - | -€189 | |
| Furniture and vehicles | 24 | €45,405 | €28,653 | -€16,752 | -36.9% |
| Financial fixed assets | 28 | €1,458,333 | €1,458,333 | = | 0.0% |
| Current assets | 29/58 | €79,477 | €66,633 | -€12,844 | -16.2% |
| Amounts receivable within one year | 40/41 | €1,440 | €2,479 | +€1,039 | +72.2% |
| Other amounts receivable | 41 | €1,440 | €2,479 | +€1,039 | +72.2% |
| Cash at bank and in hand | 54/58 | €71,797 | €62,868 | -€8,929 | -12.4% |
| Deferred charges and accrued income | 490/1 | €6,239 | €1,286 | -€4,954 | -79.4% |
| Total equity and liabilities | 10/49 | €3,048,924 | €2,944,156 | -€104,768 | -3.4% |
| Equity | 10/15 | €684,101 | €714,200 | +€30,099 | +4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €560,501 | €539,183 | -€21,318 | -3.8% |
| Tax-exempt reserves | 132 | €560,501 | €539,183 | -€21,318 | -3.8% |
| Profit (loss) carried forward | 14 | €105,000 | €156,417 | +€51,417 | +49.0% |
| Amounts payable | 17/49 | €2,364,823 | €2,229,956 | -€134,867 | -5.7% |
| Amounts payable after more than one year | 17 | €1,702,945 | €1,586,208 | -€116,737 | -6.9% |
| Financial debts | 170/4 | €1,658,928 | €1,548,594 | -€110,334 | -6.7% |
| Other amounts payable | 178/9 | €44,017 | €37,614 | -€6,403 | -14.5% |
| Amounts payable within one year | 42/48 | €659,849 | €641,844 | -€18,005 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €108,836 | €110,334 | +€1,498 | +1.4% |
| Financial debts | 43 | €9,003 | €9,127 | +€124 | +1.4% |
| Credit institutions | 430/8 | €9,003 | €9,127 | +€124 | +1.4% |
| Trade debts | 44 | €7,359 | €2,274 | -€5,085 | -69.1% |
| Suppliers | 440/4 | €7,359 | €2,274 | -€5,085 | -69.1% |
| Taxes, remuneration and social security | 45 | €990 | - | -€990 | |
| Taxes | 450/3 | €990 | - | -€990 | |
| Other amounts payable | 47/48 | €533,661 | €520,109 | -€13,552 | -2.5% |
| Accrued charges and deferred income | 492/3 | €2,028 | €1,904 | -€124 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,121 | €91,924 | +€2,803 | +3.1% |
| Other operating charges | 640/8 | €24,102 | €21,679 | -€2,423 | -10.1% |
| Gross operating margin | 9900 | €182,636 | €185,448 | +€2,812 | +1.5% |
| Operating profit (loss) | 9901 | €69,413 | €71,845 | +€2,432 | +3.5% |
| Financial income | 75/76B | €801 | - | -€801 | |
| Recurring financial income | 75 | €801 | - | -€801 | |
| Financial charges | 65/66B | €25,526 | €23,785 | -€1,741 | -6.8% |
| Recurring financial charges | 65 | €25,526 | €23,785 | -€1,741 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €44,688 | €48,060 | +€3,372 | +7.5% |
| Income taxes | 67/77 | €15,188 | €17,961 | +€2,773 | +18.3% |
| Profit (loss) for the period | 9904 | €29,500 | €30,099 | +€599 | +2.0% |
| Transfer from tax-exempt reserves | 789 | €21,318 | €21,318 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,818 | €51,417 | +€599 | +1.2% |
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 6 October 2026 via checked.be.