IMMO 2 ETOILES: 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.
IMMO 2 ETOILES
Largest movements
- Receivables within one year +€85,000
up €85,000 (+73.5%), from €115,599 to €200,599
of which Other amounts receivable: +€85,000
- Cash -€52,929
down €52,929 (-74.3%), from €71,198 to €18,269
mainly Receivables within one year (-€85,000) and Accrued charges and deferred income (-€4,000)
- Tangible fixed assets -€16,922
down €16,922 (-2.5%), from €667,324 to €650,402
of which Land and buildings: -€16,522
- Trade debts +€20,000
up €20,000 (+417.4%), from €4,792 to €24,792
- Gross operating margin -€46,295
down €46,295 (-49.7%), from €93,174 to €46,879
- Depreciation -€12,734
down €12,734 (-42.9%), from €29,656 to €16,922
- Taxes +€5,315
up €5,315 (+32.2%), from €16,500 to €21,815
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 | €854,122 | €872,358 | +€18,236 | +2.1% |
| Fixed assets | 21/28 | €667,324 | €650,402 | -€16,922 | -2.5% |
| Tangible fixed assets | 22/27 | €667,324 | €650,402 | -€16,922 | -2.5% |
| Land and buildings | 22 | €663,498 | €646,977 | -€16,522 | -2.5% |
| Plant, machinery and equipment | 23 | €3,826 | €3,426 | -€400 | -10.5% |
| Current assets | 29/58 | €186,798 | €221,956 | +€35,158 | +18.8% |
| Amounts receivable within one year | 40/41 | €115,599 | €200,599 | +€85,000 | +73.5% |
| Trade receivables | 40 | €10,781 | €10,781 | = | 0.0% |
| Other amounts receivable | 41 | €104,819 | €189,819 | +€85,000 | +81.1% |
| Cash at bank and in hand | 54/58 | €71,198 | €18,269 | -€52,929 | -74.3% |
| Deferred charges and accrued income | 490/1 | - | €3,087 | +€3,087 | |
| Total equity and liabilities | 10/49 | €854,122 | €872,358 | +€18,236 | +2.1% |
| Equity | 10/15 | €626,734 | €630,524 | +€3,790 | +0.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €393,000 | €393,000 | = | 0.0% |
| Reserves | 13 | €12,000 | €12,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €159,734 | €163,524 | +€3,790 | +2.4% |
| Provisions and deferred taxes | 16 | €71,600 | €71,600 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €71,600 | €71,600 | = | 0.0% |
| Major repairs and maintenance | 162 | €68,300 | €68,300 | = | 0.0% |
| Other liabilities and charges | 164/5 | €3,300 | €3,300 | = | 0.0% |
| Amounts payable | 17/49 | €155,787 | €170,234 | +€14,447 | +9.3% |
| Amounts payable within one year | 42/48 | €151,787 | €170,234 | +€18,447 | +12.2% |
| Trade debts | 44 | €4,792 | €24,792 | +€20,000 | +417.4% |
| Suppliers | 440/4 | €4,792 | €24,792 | +€20,000 | +417.4% |
| Taxes, remuneration and social security | 45 | €16,500 | €13,210 | -€3,290 | -19.9% |
| Taxes | 450/3 | €16,500 | €13,210 | -€3,290 | -19.9% |
| Other amounts payable | 47/48 | €130,495 | €132,232 | +€1,737 | +1.3% |
| Accrued charges and deferred income | 492/3 | €4,000 | - | -€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,656 | €16,922 | -€12,734 | -42.9% |
| Other operating charges | 640/8 | €3,744 | €4,305 | +€561 | +15.0% |
| Gross operating margin | 9900 | €93,174 | €46,879 | -€46,295 | -49.7% |
| Operating profit (loss) | 9901 | €59,774 | €25,652 | -€34,122 | -57.1% |
| Financial charges | 65/66B | €58 | €48 | -€10 | -17.2% |
| Recurring financial charges | 65 | €58 | €48 | -€10 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €59,716 | €25,604 | -€34,112 | -57.1% |
| Income taxes | 67/77 | €16,500 | €21,815 | +€5,315 | +32.2% |
| Profit (loss) for the period | 9904 | €43,216 | €3,790 | -€39,426 | -91.2% |
| Profit (loss) for the period to be appropriated | 9905 | €43,216 | €3,790 | -€39,426 | -91.2% |
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 10 October 2026 via checked.be.