2Fund: what changed
What changed
2Fund
NACE 43.990, Other specialised construction activities
filed annual accounts (NBB)
Net result for the year
€5.5m
31-12-2024 · €3.2m+€2.3m
Equity
€24.8m
31-12-2024 · €19.3m+€5.5m
Cash
€117,505
31-12-2024 · €51,173+€66,332
Balance sheet total
€60.7m
31-12-2024 · €61.4m-€715,714
Largest movements
Assets
- Receivables within one year -€935,469
down €935,469 (-73.3%), from €1.3m to €341,018
of which Trade receivables: -€935,469
Equity and liabilities
- Reserves +€5.5m
up €5.5m (+40.1%), from €13.8m to €19.4m
- Debts after one year -€4.7m
down €4.7m (-12.7%), from €36.8m to €32.1m
of which Financial debts: -€3.0m
- Current portion of long-term debt -€1.3m
down €1.3m (-29.9%), from €4.3m to €3.0m
Income statement
- Financial income +€1.9m
up €1.9m (+64.0%), from €3.0m to €4.9m
- Turnover +€826,601
up €826,601 (+27.8%), from €3.0m to €3.8m
- Financial charges +€356,394
up €356,394 (+39.0%), from €912,942 to €1.3m
- Taxes +€136,039
up €136,039 (+163%), from €83,481 to €219,520
of which Taxes: +€135,620
- Services and other goods -€110,980
down €110,980 (-7.8%), from €1.4m to €1.3m
Change in the result, 31-12-2024 to 31-12-2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 31-12-2024
€3.2m
Turnover
+€826,601
Other operating income
-€14,425
Services and other goods
+€110,980
Staff costs
-€18,472
Depreciation
-€9,832
Other operating charges
+€5,644
Financial income
+€1.9m
Financial charges
-€356,394
Taxes
-€136,039
Result 31-12-2025
€5.5m
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€6.2m
Investment
-€220,478
Financing
-€6.0m
Cash 31-12-2024
€51,173
From operations (derived)
+€6.2m
Net result for the year
+€5.5m
Depreciation
+€49,024
Receivables within one year
+€935,469
Deferred charges and accrued income
+€18,031
Trade debts
+€73,794
Tax, wage and social debts
-€69,738
Accrued charges and deferred income
-€312,076
Investment (derived)
-€220,478
Investment in fixed assets (net)
-€220,478
Financing
-€6.0m
Debts after one year
-€4.7m
Current portion of long-term debt
-€1.3m
Cash 31-12-2025
€117,505
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €61,432,960 | €60,717,246 | -€715,714 | -1.2% |
| Fixed assets | 21/28 | €59,995,741 | €60,167,195 | +€171,454 | +0.3% |
| Intangible fixed assets | 21 | €13,591 | €44,054 | +€30,464 | +224% |
| Tangible fixed assets | 22/27 | €119,775 | €260,766 | +€140,990 | +118% |
| Furniture and vehicles | 24 | €119,775 | €260,766 | +€140,990 | +118% |
| Financial fixed assets | 28 | €59,862,375 | €59,862,375 | = | 0.0% |
| Affiliated companies | 280/1 | €59,824,512 | €59,824,512 | = | 0.0% |
| Participating interests | 280 | €59,824,512 | €59,824,512 | = | 0.0% |
| Other financial fixed assets | 284/8 | €37,863 | €37,863 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €37,863 | €37,863 | = | 0.0% |
| Current assets | 29/58 | €1,437,219 | €550,051 | -€887,168 | -61.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,276,487 | €341,018 | -€935,469 | -73.3% |
| Trade receivables | 40 | €1,276,487 | €341,018 | -€935,469 | -73.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €51,173 | €117,505 | +€66,332 | +130% |
| Deferred charges and accrued income | 490/1 | €109,559 | €91,527 | -€18,031 | -16.5% |
| Total equity and liabilities | 10/49 | €61,432,960 | €60,717,246 | -€715,714 | -1.2% |
| Equity | 10/15 | €19,288,306 | €24,830,645 | +€5.5m | +28.7% |
| Contributions | 10/11 | €5,480,000 | €5,480,000 | = | 0.0% |
| Reserves | 13 | €13,808,306 | €19,350,645 | +€5.5m | +40.1% |
| Distributable reserves | 133 | €13,808,306 | €19,350,645 | +€5.5m | +40.1% |
| Amounts payable | 17/49 | €42,144,654 | €35,886,601 | -€6.3m | -14.8% |
| Amounts payable after more than one year | 17 | €36,814,709 | €32,148,509 | -€4.7m | -12.7% |
| Financial debts | 170/4 | €13,679,674 | €10,631,428 | -€3.0m | -22.3% |
| Credit institutions | 173 | €12,142,714 | €9,131,428 | -€3.0m | -24.8% |
| Other loans | 174 | €1,536,960 | €1,500,000 | -€36,960 | -2.4% |
| Other amounts payable | 178/9 | €23,135,035 | €21,517,081 | -€1.6m | -7.0% |
| Amounts payable within one year | 42/48 | €4,774,173 | €3,494,396 | -€1.3m | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €4,295,119 | €3,011,286 | -€1.3m | -29.9% |
| Trade debts | 44 | €87,568 | €161,362 | +€73,794 | +84.3% |
| Suppliers | 440/4 | €87,568 | €161,362 | +€73,794 | +84.3% |
| Taxes, remuneration and social security | 45 | €391,486 | €321,748 | -€69,738 | -17.8% |
| Taxes | 450/3 | €335,998 | €275,722 | -€60,277 | -17.9% |
| Remuneration and social security | 454/9 | €55,487 | €46,026 | -€9,461 | -17.1% |
| Accrued charges and deferred income | 492/3 | €555,772 | €243,696 | -€312,076 | -56.2% |
| Operating income | 70/76A | €2,996,992 | €3,809,169 | +€812,177 | +27.1% |
| Turnover | 70 | €2,974,400 | €3,801,001 | +€826,601 | +27.8% |
| Other operating income | 74 | €22,592 | €8,168 | -€14,425 | -63.8% |
| Operating charges | 60/66A | €1,787,457 | €1,699,138 | -€88,320 | -4.9% |
| Services and other goods | 61 | €1,416,449 | €1,305,469 | -€110,980 | -7.8% |
| Remuneration, social security and pensions | 62 | €324,446 | €342,918 | +€18,472 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,192 | €49,024 | +€9,832 | +25.1% |
| Other operating charges | 640/8 | €7,371 | €1,727 | -€5,644 | -76.6% |
| Operating profit (loss) | 9901 | €1,209,535 | €2,110,031 | +€900,496 | +74.4% |
| Financial income | 75/76B | €3,000,843 | €4,921,163 | +€1.9m | +64.0% |
| Recurring financial income | 75 | €3,000,843 | €4,921,163 | +€1.9m | +64.0% |
| Income from financial fixed assets | 750 | €3,000,000 | €4,921,127 | +€1.9m | +64.0% |
| Other financial income | 752/9 | €843 | €36 | -€807 | -95.7% |
| Financial charges | 65/66B | €912,942 | €1,269,335 | +€356,394 | +39.0% |
| Recurring financial charges | 65 | €912,942 | €1,269,335 | +€356,394 | +39.0% |
| Debt charges | 650 | €909,085 | €1,268,180 | +€359,095 | +39.5% |
| Other financial charges | 652/9 | €3,857 | €1,155 | -€2,702 | -70.0% |
| Profit (loss) for the period before taxes | 9903 | €3,297,437 | €5,761,859 | +€2.5m | +74.7% |
| Income taxes | 67/77 | €83,481 | €219,520 | +€136,039 | +163% |
| Taxes | 670/3 | €83,900 | €219,520 | +€135,620 | +162% |
| Tax adjustments and reversals of tax provisions | 77 | €419 | €0 | -€419 | -100% |
| Profit (loss) for the period | 9904 | €3,213,956 | €5,542,339 | +€2.3m | +72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,213,956 | €5,542,339 | +€2.3m | +72.4% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.