2PARTNERS: 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.
2PARTNERS
Largest movements
- Tangible fixed assets +€201,983
up €201,983 (+56.5%), from €357,803 to €559,786
of which Other tangible fixed assets: +€232,954
- Receivables within one year -€53,901
down €53,901 (-49.2%), from €109,649 to €55,748
of which Other amounts receivable: -€59,508
- Current investments -€29,732
down €29,732 (-32.0%), from €92,996 to €63,264
- Stocks and contracts +€11,958
up €11,958 (+62.5%), from €19,126 to €31,084
- Cash -€11,641
down €11,641 (-9.8%), from €118,419 to €106,778
mainly Investment in fixed assets (net) (-€275,563) and Contributions, distributions and other (-€223,112)
- Reserves -€171,533
down €171,533 (-35.8%), from €479,253 to €307,720
- Other debts +€93,549
up €93,549 (+2519.5%), from €3,713 to €97,261
- Debts after one year +€81,052
up €81,052 (+124.9%), from €64,885 to €145,937
- Tax, wage and social debts +€56,557
up €56,557 (+43.8%), from €129,152 to €185,709
of which Remuneration and social security: +€35,162
- Trade debts +€33,258
up €33,258 (+142.4%), from €23,349 to €56,607
- Staff costs +€259,882
up €259,882 (+44.8%), from €580,441 to €840,323
- Gross operating margin +€168,214
up €168,214 (+20.4%), from €825,708 to €993,923
- Taxes -€35,611
down €35,611 (-60.4%), from €58,935 to €23,324
- Depreciation +€16,764
up €16,764 (+36.1%), from €46,454 to €63,217
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €728,731 | €856,886 | +€128,155 | +17.6% |
| Fixed assets | 21/28 | €364,803 | €577,149 | +€212,346 | +58.2% |
| Intangible fixed assets | 21 | - | €10,363 | +€10,363 | |
| Tangible fixed assets | 22/27 | €357,803 | €559,786 | +€201,983 | +56.5% |
| Land and buildings | 22 | €300,886 | €283,589 | -€17,297 | -5.7% |
| Plant, machinery and equipment | 23 | €15,968 | €8,642 | -€7,326 | -45.9% |
| Furniture and vehicles | 24 | €16,965 | €10,617 | -€6,348 | -37.4% |
| Other tangible fixed assets | 26 | €23,984 | €256,938 | +€232,954 | +971.3% |
| Financial fixed assets | 28 | €7,000 | €7,000 | = | 0.0% |
| Current assets | 29/58 | €363,928 | €279,737 | -€84,191 | -23.1% |
| Stocks and contracts in progress | 3 | €19,126 | €31,084 | +€11,958 | +62.5% |
| Stocks | 30/36 | €19,126 | €31,084 | +€11,958 | +62.5% |
| Amounts receivable within one year | 40/41 | €109,649 | €55,748 | -€53,901 | -49.2% |
| Trade receivables | 40 | €13,481 | €19,087 | +€5,607 | +41.6% |
| Other amounts receivable | 41 | €96,169 | €36,661 | -€59,508 | -61.9% |
| Current investments | 50/53 | €92,996 | €63,264 | -€29,732 | -32.0% |
| Cash at bank and in hand | 54/58 | €118,419 | €106,778 | -€11,641 | -9.8% |
| Deferred charges and accrued income | 490/1 | €23,737 | €22,862 | -€875 | -3.7% |
| Total equity and liabilities | 10/49 | €728,731 | €856,886 | +€128,155 | +17.6% |
| Equity | 10/15 | €479,253 | €307,720 | -€171,533 | -35.8% |
| Reserves | 13 | €479,253 | €307,720 | -€171,533 | -35.8% |
| Distributable reserves | 133 | €479,253 | €307,720 | -€171,533 | -35.8% |
| Amounts payable | 17/49 | €249,478 | €549,166 | +€299,688 | +120.1% |
| Amounts payable after more than one year | 17 | €64,885 | €145,937 | +€81,052 | +124.9% |
| Financial debts | 170/4 | €64,885 | €145,937 | +€81,052 | +124.9% |
| Amounts payable within one year | 42/48 | €184,593 | €403,229 | +€218,636 | +118.4% |
| Current portion of amounts payable after more than one year | 42 | €28,379 | €51,653 | +€23,274 | +82.0% |
| Financial debts | 43 | - | €11,776 | +€11,776 | |
| Credit institutions | 430/8 | - | €11,776 | +€11,776 | |
| Trade debts | 44 | €23,349 | €56,607 | +€33,258 | +142.4% |
| Suppliers | 440/4 | €23,349 | €56,607 | +€33,258 | +142.4% |
| Advances received on contracts in progress | 46 | - | €224 | +€224 | |
| Taxes, remuneration and social security | 45 | €129,152 | €185,709 | +€56,557 | +43.8% |
| Taxes | 450/3 | €64,351 | €85,745 | +€21,395 | +33.2% |
| Remuneration and social security | 454/9 | €64,801 | €99,964 | +€35,162 | +54.3% |
| Other amounts payable | 47/48 | €3,713 | €97,261 | +€93,549 | +2519.5% |
| Remuneration, social security and pensions | 62 | €580,441 | €840,323 | +€259,882 | +44.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,454 | €63,217 | +€16,764 | +36.1% |
| Other operating charges | 640/8 | €7,518 | €5,858 | -€1,660 | -22.1% |
| Non-recurring operating charges | 66A | - | €3,500 | +€3,500 | |
| Gross operating margin | 9900 | €825,708 | €993,923 | +€168,214 | +20.4% |
| Operating profit (loss) | 9901 | €191,296 | €81,025 | -€110,271 | -57.6% |
| Financial income | 75/76B | €8,854 | €9,021 | +€167 | +1.9% |
| Recurring financial income | 75 | €8,854 | €9,021 | +€167 | +1.9% |
| Financial charges | 65/66B | €13,004 | €15,143 | +€2,139 | +16.5% |
| Recurring financial charges | 65 | €13,004 | €15,143 | +€2,139 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €187,147 | €74,903 | -€112,243 | -60.0% |
| Income taxes | 67/77 | €58,935 | €23,324 | -€35,611 | -60.4% |
| Profit (loss) for the period | 9904 | €128,211 | €51,579 | -€76,632 | -59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €128,211 | €51,579 | -€76,632 | -59.8% |
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.