2U: 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.
2U
Largest movements
- Tangible fixed assets -€53,541
down €53,541 (-7.2%), from €748,137 to €694,596
of which Plant, machinery and equipment: -€73,847
- Receivables within one year -€36,949
down €36,949 (-70.8%), from €52,188 to €15,239
of which Trade receivables: -€36,842
- Trade debts +€182,961
up €182,961 (+42.8%), from €427,904 to €610,865
- Profit (loss) carried forward -€167,507
down €167,507 (-45.0%), from -€372,359 to -€539,866
- Debts after one year -€88,706
down €88,706 (-17.9%), from €494,771 to €406,065
- Other debts -€15,204
down €15,204 (-76.0%), from €20,000 to €4,796
- Tax, wage and social debts -€13,995
down €13,995 (-11.4%), from €122,521 to €108,526
of which Remuneration and social security: -€11,130
- Gross operating margin +€68,201
up €68,201 (+11.7%), from €583,208 to €651,409
- Financial charges +€22,971
up €22,971 (+43.8%), from €52,386 to €75,357
- Staff costs -€13,954
down €13,954 (-2.2%), from €635,308 to €621,354
- Depreciation +€13,080
up €13,080 (+15.1%), from €86,381 to €99,461
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 | €1,254,398 | €1,161,291 | -€93,107 | -7.4% |
| Formation expenses | 20 | €4,754 | €1,377 | -€3,377 | -71.0% |
| Fixed assets | 21/28 | €748,137 | €696,096 | -€52,041 | -7.0% |
| Tangible fixed assets | 22/27 | €748,137 | €694,596 | -€53,541 | -7.2% |
| Plant, machinery and equipment | 23 | €693,499 | €619,652 | -€73,847 | -10.6% |
| Furniture and vehicles | 24 | €54,638 | €74,944 | +€20,306 | +37.2% |
| Financial fixed assets | 28 | - | €1,500 | +€1,500 | |
| Current assets | 29/58 | €501,507 | €463,818 | -€37,689 | -7.5% |
| Stocks and contracts in progress | 3 | €375,611 | €382,564 | +€6,953 | +1.9% |
| Stocks | 30/36 | €375,611 | €382,564 | +€6,953 | +1.9% |
| Amounts receivable within one year | 40/41 | €52,188 | €15,239 | -€36,949 | -70.8% |
| Trade receivables | 40 | €52,049 | €15,207 | -€36,842 | -70.8% |
| Other amounts receivable | 41 | €139 | €32 | -€107 | -77.1% |
| Cash at bank and in hand | 54/58 | €65,080 | €58,194 | -€6,886 | -10.6% |
| Deferred charges and accrued income | 490/1 | €8,628 | €7,821 | -€807 | -9.4% |
| Total equity and liabilities | 10/49 | €1,254,398 | €1,161,291 | -€93,107 | -7.4% |
| Equity | 10/15 | -€302,359 | -€469,866 | -€167,507 | -55.4% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€372,359 | -€539,866 | -€167,507 | -45.0% |
| Amounts payable | 17/49 | €1,556,757 | €1,631,157 | +€74,400 | +4.8% |
| Amounts payable after more than one year | 17 | €494,771 | €406,065 | -€88,706 | -17.9% |
| Financial debts | 170/4 | €494,771 | €406,065 | -€88,706 | -17.9% |
| Amounts payable within one year | 42/48 | €918,263 | €1,075,366 | +€157,103 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €347,838 | €351,179 | +€3,341 | +1.0% |
| Trade debts | 44 | €427,904 | €610,865 | +€182,961 | +42.8% |
| Suppliers | 440/4 | €427,904 | €610,865 | +€182,961 | +42.8% |
| Taxes, remuneration and social security | 45 | €122,521 | €108,526 | -€13,995 | -11.4% |
| Taxes | 450/3 | €6,894 | €4,029 | -€2,865 | -41.6% |
| Remuneration and social security | 454/9 | €115,627 | €104,497 | -€11,130 | -9.6% |
| Other amounts payable | 47/48 | €20,000 | €4,796 | -€15,204 | -76.0% |
| Accrued charges and deferred income | 492/3 | €143,723 | €149,726 | +€6,003 | +4.2% |
| Remuneration, social security and pensions | 62 | €635,308 | €621,354 | -€13,954 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,381 | €99,461 | +€13,080 | +15.1% |
| Other operating charges | 640/8 | €28,326 | €22,872 | -€5,454 | -19.3% |
| Gross operating margin | 9900 | €583,208 | €651,409 | +€68,201 | +11.7% |
| Operating profit (loss) | 9901 | -€166,807 | -€92,278 | +€74,529 | +44.7% |
| Financial income | 75/76B | €657 | €320 | -€337 | -51.3% |
| Recurring financial income | 75 | €657 | €320 | -€337 | -51.3% |
| Financial charges | 65/66B | €52,386 | €75,357 | +€22,971 | +43.8% |
| Recurring financial charges | 65 | €52,386 | €75,357 | +€22,971 | +43.8% |
| Profit (loss) for the period before taxes | 9903 | -€218,536 | -€167,315 | +€51,221 | +23.4% |
| Income taxes | 67/77 | €192 | €192 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€218,728 | -€167,507 | +€51,221 | +23.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€218,728 | -€167,507 | +€51,221 | +23.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.