2 Z IMMO: 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.
2 Z IMMO
Largest movements
- Receivables after one year +€21,539
up €21,539 (+269%), from €8,018 to €29,557
- Receivables within one year +€8,232
up €8,232 (+97.0%), from €8,483 to €16,715
of which Other amounts receivable: +€5,000
- Cash -€4,852
down €4,852 (-93.1%), from €5,214 to €362
mainly Receivables after one year (-€21,539) and Receivables within one year (-€8,232)
- Tangible fixed assets -€2,854
down €2,854 (-38.8%), from €7,354 to €4,500
of which Land and buildings: -€2,550
- Profit (loss) carried forward +€20,225
up €20,225 (+56.1%), from €36,056 to €56,282
- Tax, wage and social debts +€3,454
up €3,454 (+55.6%), from €6,217 to €9,671
- Trade debts +€2,615
up €2,615 (+107%), from €2,433 to €5,048
- Current portion of long-term debt -€2,557
down €2,557 (-66.4%), from €3,851 to €1,295
- Gross operating margin +€15,707
up €15,707 (+76.3%), from €20,576 to €36,283
- Taxes +€3,687
up €3,687 (+48.5%), from €7,610 to €11,297
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €75,786 | €97,851 | +€22,065 | +29.1% |
| Fixed assets | 21/28 | €54,071 | €51,217 | -€2,854 | -5.3% |
| Tangible fixed assets | 22/27 | €7,354 | €4,500 | -€2,854 | -38.8% |
| Land and buildings | 22 | €7,050 | €4,500 | -€2,550 | -36.2% |
| Plant, machinery and equipment | 23 | €304 | - | -€304 | |
| Financial fixed assets | 28 | €46,717 | €46,717 | = | 0.0% |
| Current assets | 29/58 | €21,715 | €46,634 | +€24,919 | +115% |
| Amounts receivable after more than one year | 29 | €8,018 | €29,557 | +€21,539 | +269% |
| Other amounts receivable | 291 | €8,018 | €29,557 | +€21,539 | +269% |
| Amounts receivable within one year | 40/41 | €8,483 | €16,715 | +€8,232 | +97.0% |
| Trade receivables | 40 | €3,191 | €6,424 | +€3,232 | +101% |
| Other amounts receivable | 41 | €5,291 | €10,291 | +€5,000 | +94.5% |
| Cash at bank and in hand | 54/58 | €5,214 | €362 | -€4,852 | -93.1% |
| Total equity and liabilities | 10/49 | €75,786 | €97,851 | +€22,065 | +29.1% |
| Equity | 10/15 | €61,613 | €81,838 | +€20,225 | +32.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €6,964 | €6,964 | = | 0.0% |
| Non-distributable reserves | 130/1 | €169 | €169 | = | 0.0% |
| Reserves not available under the articles | 1311 | €169 | €169 | = | 0.0% |
| Distributable reserves | 133 | €6,795 | €6,795 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,056 | €56,282 | +€20,225 | +56.1% |
| Amounts payable | 17/49 | €14,174 | €16,013 | +€1,839 | +13.0% |
| Amounts payable after more than one year | 17 | €873 | - | -€873 | |
| Financial debts | 170/4 | €873 | - | -€873 | |
| Amounts payable within one year | 42/48 | €13,301 | €16,013 | +€2,712 | +20.4% |
| Current portion of amounts payable after more than one year | 42 | €3,851 | €1,295 | -€2,557 | -66.4% |
| Trade debts | 44 | €2,433 | €5,048 | +€2,615 | +107% |
| Suppliers | 440/4 | €2,433 | €5,048 | +€2,615 | +107% |
| Taxes, remuneration and social security | 45 | €6,217 | €9,671 | +€3,454 | +55.6% |
| Taxes | 450/3 | €6,217 | €9,671 | +€3,454 | +55.6% |
| Other amounts payable | 47/48 | €800 | - | -€800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,942 | €2,854 | -€88 | -3.0% |
| Other operating charges | 640/8 | €1,981 | €1,644 | -€337 | -17.0% |
| Gross operating margin | 9900 | €20,576 | €36,283 | +€15,707 | +76.3% |
| Operating profit (loss) | 9901 | €15,654 | €31,785 | +€16,132 | +103% |
| Financial income | 75/76B | €30 | €17 | -€12 | -42.0% |
| Recurring financial income | 75 | €30 | €17 | -€12 | -42.0% |
| Financial charges | 65/66B | €479 | €280 | -€198 | -41.5% |
| Recurring financial charges | 65 | €479 | €280 | -€198 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | €15,205 | €31,523 | +€16,318 | +107% |
| Income taxes | 67/77 | €7,610 | €11,297 | +€3,687 | +48.5% |
| Profit (loss) for the period | 9904 | €7,595 | €20,225 | +€12,630 | +166% |
| Profit (loss) for the period to be appropriated | 9905 | €7,595 | €20,225 | +€12,630 | +166% |
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 15 October 2026 via checked.be.