2B 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.
2B IMMO
Largest movements
- Tangible fixed assets +€4.6m
up €4.6m (+44.3%), from €10.5m to €15.1m
of which Land and buildings: +€4.6m
- Receivables within one year +€2.0m
up €2.0m (+105%), from €1.9m to €3.8m
of which Trade receivables: +€2.1m
- Receivables after one year +€1.2m
new in 2025: €1.2m
- Cash -€963,168
down €963,168 (-95.9%), from €1.0m to €41,405
mainly Investment in fixed assets (net) (-€5.3m) and Receivables within one year (-€2.0m)
- Debts after one year +€4.9m
up €4.9m (+61.6%), from €7.9m to €12.7m
- Trade debts +€723,652
up €723,652 (+43.4%), from €1.7m to €2.4m
of which Suppliers: +€1.7m
- Short-term financial debts +€674,652
up €674,652 (+99.5%), from €678,300 to €1.4m
- Other debts +€535,560
up €535,560 (+1,159%), from €46,224 to €581,784
- Current portion of long-term debt +€295,844
up €295,844 (+69.4%), from €426,148 to €721,992
- Gross operating margin -€1.1m
down €1.1m (-51.1%), from €2.2m to €1.1m
- Taxes -€278,660
down €278,660 (-99.5%), from €280,045 to €1,385
- Depreciation +€234,012
up €234,012 (+61.5%), from €380,241 to €614,253
- Financial charges +€128,554
up €128,554 (+42.8%), from €300,499 to €429,053
- Financial income +€108,733
up €108,733 (+1,087,331,100%), from €0 to €108,733
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 | €13,347,319 | €20,303,349 | +€7.0m | +52.1% |
| Fixed assets | 21/28 | €10,490,974 | €15,136,755 | +€4.6m | +44.3% |
| Tangible fixed assets | 22/27 | €10,490,974 | €15,136,755 | +€4.6m | +44.3% |
| Land and buildings | 22 | €10,478,866 | €15,120,017 | +€4.6m | +44.3% |
| Furniture and vehicles | 24 | €12,108 | €16,738 | +€4,630 | +38.2% |
| Current assets | 29/58 | €2,856,345 | €5,166,593 | +€2.3m | +80.9% |
| Amounts receivable after more than one year | 29 | - | €1,205,770 | +€1.2m | |
| Other amounts receivable | 291 | - | €1,205,770 | +€1.2m | |
| Amounts receivable within one year | 40/41 | €1,851,773 | €3,803,083 | +€2.0m | +105% |
| Trade receivables | 40 | €105,671 | €2,238,098 | +€2.1m | +2,018% |
| Other amounts receivable | 41 | €1,746,102 | €1,564,985 | -€181,117 | -10.4% |
| Cash at bank and in hand | 54/58 | €1,004,572 | €41,405 | -€963,168 | -95.9% |
| Deferred charges and accrued income | 490/1 | - | €116,335 | +€116,335 | |
| Total equity and liabilities | 10/49 | €13,347,319 | €20,303,349 | +€7.0m | +52.1% |
| Equity | 10/15 | €2,354,974 | €2,406,509 | +€51,534 | +2.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Contributions outside capital | 11 | €18,550 | - | -€18,550 | |
| Share premium | 1100/10 | €18,550 | - | -€18,550 | |
| Reserves | 13 | €18,412 | €16,907 | -€1,505 | -8.2% |
| Non-distributable reserves | 130/1 | €1,855 | - | -€1,855 | |
| Legal reserve | 130 | €1,855 | - | -€1,855 | |
| Tax-exempt reserves | 132 | €16,557 | €15,052 | -€1,505 | -9.1% |
| Distributable reserves | 133 | - | €1,855 | +€1,855 | |
| Profit (loss) carried forward | 14 | €2,318,012 | €2,371,051 | +€53,039 | +2.3% |
| Provisions and deferred taxes | 16 | €6,955 | €6,323 | -€632 | -9.1% |
| Deferred taxes | 168 | €6,955 | €6,323 | -€632 | -9.1% |
| Amounts payable | 17/49 | €10,985,390 | €17,890,517 | +€6.9m | +62.9% |
| Amounts payable after more than one year | 17 | €7,875,930 | €12,730,206 | +€4.9m | +61.6% |
| Financial debts | 170/4 | €7,875,930 | €12,730,206 | +€4.9m | +61.6% |
| Amounts payable within one year | 42/48 | €3,109,459 | €5,069,891 | +€2.0m | +63.0% |
| Current portion of amounts payable after more than one year | 42 | €426,148 | €721,992 | +€295,844 | +69.4% |
| Financial debts | 43 | €678,300 | €1,352,952 | +€674,652 | +99.5% |
| Credit institutions | 430/8 | €678,300 | €1,352,952 | +€674,652 | +99.5% |
| Trade debts | 44 | €1,666,249 | €2,389,901 | +€723,652 | +43.4% |
| Suppliers | 440/4 | €739,873 | €2,389,901 | +€1.7m | +223% |
| Bills of exchange payable | 441 | €926,376 | €0 | -€926,376 | -100% |
| Advances received on contracts in progress | 46 | €11,635 | €11,635 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €280,904 | €11,628 | -€269,276 | -95.9% |
| Taxes | 450/3 | €280,904 | €11,628 | -€269,276 | -95.9% |
| Other amounts payable | 47/48 | €46,224 | €581,784 | +€535,560 | +1,159% |
| Accrued charges and deferred income | 492/3 | - | €90,420 | +€90,420 | |
| Non-recurring operating income | 76A | €2,086,830 | €0 | -€2.1m | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €380,241 | €614,253 | +€234,012 | +61.5% |
| Other operating charges | 640/8 | €99,706 | €82,383 | -€17,323 | -17.4% |
| Non-recurring operating charges | 66A | €38,367 | €0 | -€38,367 | -100% |
| Gross operating margin | 9900 | €2,186,002 | €1,069,242 | -€1.1m | -51.1% |
| Operating profit (loss) | 9901 | €1,667,688 | €372,607 | -€1.3m | -77.7% |
| Financial income | 75/76B | €0 | €108,733 | +€108,733 | +1,087,331,100% |
| Recurring financial income | 75 | €0 | €108,733 | +€108,733 | +1,087,331,100% |
| Financial charges | 65/66B | €300,499 | €429,053 | +€128,554 | +42.8% |
| Recurring financial charges | 65 | €300,499 | €429,053 | +€128,554 | +42.8% |
| Profit (loss) for the period before taxes | 9903 | €1,367,189 | €52,287 | -€1.3m | -96.2% |
| Transfer from deferred taxes | 780 | €632 | €632 | = | 0.0% |
| Income taxes | 67/77 | €280,045 | €1,385 | -€278,660 | -99.5% |
| Profit (loss) for the period | 9904 | €1,087,776 | €51,534 | -€1.0m | -95.3% |
| Transfer from tax-exempt reserves | 789 | €1,505 | €1,505 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,089,282 | €53,039 | -€1.0m | -95.1% |
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 24 October 2026 via checked.be.