IMMO 2 QURATIO: 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 QURATIO
Largest movements
- Tangible fixed assets +€722,776
up €722,776 (+316%), from €228,859 to €951,635
of which Land and buildings: +€676,065
- Cash +€12,660
up €12,660 (+125%), from €10,155 to €22,814
mainly Debts after one year (+€914,023) and Depreciation (+€12,344)
- Debts after one year +€914,023
up €914,023 (+1,867%), from €48,966 to €962,990
of which Financial debts: +€769,370
- Other debts -€140,610
down €140,610 (-80.3%), from €174,998 to €34,388
- Profit (loss) carried forward -€31,426
new in 2025: -€31,426
- Financial charges +€16,988
up €16,988 (+1,693%), from €1,003 to €17,992
- Depreciation +€10,515
up €10,515 (+575%), from €1,829 to €12,344
- Gross operating margin -€8,115
down €8,115, from €7,137 to -€978
- Taxes -€836
down €836 (-100%), from €836 to €0
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 | €244,610 | €986,630 | +€742,020 | +303% |
| Fixed assets | 21/28 | €230,791 | €953,567 | +€722,776 | +313% |
| Tangible fixed assets | 22/27 | €228,859 | €951,635 | +€722,776 | +316% |
| Land and buildings | 22 | €228,859 | €904,924 | +€676,065 | +295% |
| Plant, machinery and equipment | 23 | - | €46,711 | +€46,711 | |
| Financial fixed assets | 28 | €1,932 | €1,932 | = | 0.0% |
| Current assets | 29/58 | €13,819 | €33,062 | +€19,244 | +139% |
| Amounts receivable within one year | 40/41 | €3,664 | €10,248 | +€6,584 | +180% |
| Trade receivables | 40 | €2,000 | €8,584 | +€6,584 | +329% |
| Other amounts receivable | 41 | €1,664 | €1,664 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,155 | €22,814 | +€12,660 | +125% |
| Total equity and liabilities | 10/49 | €244,610 | €986,630 | +€742,020 | +303% |
| Equity | 10/15 | €17,721 | -€13,705 | -€31,426 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €16,721 | €16,721 | = | 0.0% |
| Distributable reserves | 133 | €16,721 | €16,721 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€31,426 | -€31,426 | |
| Amounts payable | 17/49 | €226,890 | €1,000,335 | +€773,445 | +341% |
| Amounts payable after more than one year | 17 | €48,966 | €962,990 | +€914,023 | +1,867% |
| Financial debts | 170/4 | €48,966 | €818,336 | +€769,370 | +1,571% |
| Other amounts payable | 178/9 | - | €144,653 | +€144,653 | |
| Amounts payable within one year | 42/48 | €177,923 | €37,345 | -€140,578 | -79.0% |
| Current portion of amounts payable after more than one year | 42 | €2,651 | €2,693 | +€42 | +1.6% |
| Trade debts | 44 | €274 | €264 | -€10 | -3.8% |
| Suppliers | 440/4 | €274 | €264 | -€10 | -3.8% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €174,998 | €34,388 | -€140,610 | -80.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,829 | €12,344 | +€10,515 | +575% |
| Other operating charges | 640/8 | €126 | €112 | -€14 | -11.0% |
| Gross operating margin | 9900 | €7,137 | -€978 | -€8,115 | |
| Operating profit (loss) | 9901 | €5,182 | -€13,434 | -€18,616 | |
| Financial charges | 65/66B | €1,003 | €17,992 | +€16,988 | +1,693% |
| Recurring financial charges | 65 | €1,003 | €17,992 | +€16,988 | +1,693% |
| Profit (loss) for the period before taxes | 9903 | €4,179 | -€31,426 | -€35,604 | |
| Income taxes | 67/77 | €836 | €0 | -€836 | -100% |
| Profit (loss) for the period | 9904 | €3,343 | -€31,426 | -€34,769 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,343 | -€31,426 | -€34,769 |
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 19 October 2026 via checked.be.