My brand Raspberry Pi B+ works perfectly when I plug in an sd card, HDMI cable, and power. When I plug the EXACT SAME wires + card that work for the pi B+ into my new Pi 2, it freezes at the rainbow screen. By the rainbow screen, I mean this:

Does this mean it's definitely a hardware problem?
My first guess was that the Pi 2 needed more power than the B+, but the same power supply i'm using for both says 5V 2.5A on it.
Do I need a new image for the pi 2 because it has an ARM7 chip, or is the pi 2 defective?
Note: The reason I'm asking a new question is that it works on my old pi.