Keystone2S
ActiveSummary
Keystone2S has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €123,131 and a net result of €54,362. Equity is growing by ~13.4% per year across the filed fiscal years. Its solvency ranks better than 93% of 7814 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+100
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 17.29 against 4.76 in 2024; short-term debt: 5.7% and cash: 78.5% of total assets), and 5.7% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
94.3%
Return on assets
41.7%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-07-2026, 16 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
16 d early
2024
19 d late
2023
29 d early
2022
39 d early
2021
52 d early
2020
26 d early
2019
50 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 28 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€123,131▲ 79.1%
2024 · €68,768
Total assets
€130,516▲ 52.5%
2024 · €85,577
Net result
€54,362
2024 · -€40,619
Working capital
€120,304▲ 90.6%
2024 · €63,116
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€37,031▼ 12.9%€40,771▲ 10.1%€37,309▼ 8.5%-€39,534€60,580
Net result€28,281▼ 13.2%€31,160▲ 10.2%€27,869▼ 10.6%-€40,619€54,362
Equity€80,358▼ 10.4%€81,519▲ 1.4%€109,387▲ 34.2%€68,768▼ 37.1%€123,131▲ 79.1%
Total assets€139,719▲ 26.7%€131,992▼ 5.5%€135,649▲ 2.8%€85,577▼ 36.9%€130,516▲ 52.5%
Debt€59,361▲ 189%€50,473▼ 15.0%€26,262▼ 48.0%€16,808▼ 36.0%€7,386▼ 56.1%
Working capital€76,414▼ 13.4%€80,196▲ 4.9%€109,256▲ 36.2%€63,116▼ 42.2%€120,304▲ 90.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €60,580 after a loss of €39,534 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €130,516
Fixed assets
€2,826 ▼ 50.0%
Current assets
€127,690 ▲ 59.8%
Equity and liabilities €130,516
Equity
€123,131 ▲ 79.1%
Debt
€7,386 ▼ 56.1%
Debt's share of the balance-sheet total falls from 19.6% to 5.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€63,405▲
2024 · -€36,577
Cash flow
€57,188▲
2024 · -€37,662
Current ratio
17.29▲
2024 · 4.76
Quick ratio
17.27▲
2024 · 4.70
Debt to equity
0.06▼
2024 · 0.24
ROE
44.2%▲
2024 · -59.1%
ROA
41.7%▲
2024 · -47.5%
Interest coverage
73.62▲
2024 · -38.45
Debt ≤ 1 year
€7,386▼
2024 · €16,808
Income taxes
€5,356▲
2024 · €134
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,964 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,580 | €1,251 | €1,191 | €2,957 | €2,826 | ▼ 4.4% |
| Other operating charges640/8 | €348 | €652 | €682 | €751 | €725 | ▼ 3.5% |
| Gross operating margin9900 | €38,959 | €42,674 | €39,182 | -€35,825 | €64,130 | ▲ 279% |
| Operating profit (loss)9901 | €37,031 | €40,771 | €37,309 | -€39,534 | €60,580 | ▲ 253% |
| Financial income75/76B | €2 | €0 | - | €0 | €0 | ▼ 100% |
| Recurring financial income75 | €2 | €0 | - | €0 | €0 | ▼ 100% |
| Financial charges65/66B | €669 | €1,411 | €1,350 | €951 | €861 | ▼ 9.5% |
| Recurring financial charges65 | €669 | €1,411 | €1,350 | €951 | €861 | ▼ 9.5% |
| Profit (loss) for the period before taxes9903 | €36,364 | €39,360 | €35,959 | -€40,485 | €59,719 | ▲ 248% |
| Income taxes67/77 | €8,083 | €8,199 | €8,090 | €134 | €5,356 | ▲ 3,891% |
| Profit (loss) for the period9904 | €28,281 | €31,160 | €27,869 | -€40,619 | €54,362 | ▲ 234% |
| Profit (loss) for the period to be appropriated9905 | €28,281 | €31,160 | €27,869 | -€40,619 | €54,362 | ▲ 234% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €139,719 | €131,992 | €135,649 | €85,577 | €130,516 | ▲ 52.5% |
| Fixed assets21/28 | €3,944 | €1,322 | €131 | €5,652 | €2,826 | ▼ 50.0% |
| Tangible fixed assets22/27 | €3,574 | €1,322 | €131 | €5,652 | €2,826 | ▼ 50.0% |
| Furniture and vehicles24 | €2,574 | €1,322 | €131 | €5,652 | €2,826 | ▼ 50.0% |
| Assets under construction and advance payments27 | €1,000 | €0 | - | - | - | - |
| Financial fixed assets28 | €370 | €0 | - | - | - | - |
| Current assets29/58 | €135,776 | €130,669 | €135,518 | €79,924 | €127,690 | ▲ 59.8% |
| Stocks and contracts in progress3 | - | - | - | €869 | €139 | ▼ 84.0% |
| Stocks30/36 | - | - | - | €869 | €139 | ▼ 84.0% |
| Amounts receivable within one year40/41 | €13,137 | €24,609 | €26,953 | €27,551 | €24,666 | ▼ 10.5% |
| Trade receivables40 | €12,218 | €22,809 | €26,043 | €15,985 | €14,157 | ▼ 11.4% |
| Other amounts receivable41 | €919 | €1,801 | €910 | €11,566 | €10,509 | ▼ 9.1% |
| Cash at bank and in hand54/58 | €122,639 | €105,899 | €108,416 | €51,203 | €102,407 | ▲ 100% |
| Deferred charges and accrued income490/1 | €0 | €161 | €149 | €302 | €478 | ▲ 58.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €139,719 | €131,992 | €135,649 | €85,577 | €130,516 | ▲ 52.5% |
| Equity10/15 | €80,358 | €81,519 | €109,387 | €68,768 | €123,131 | ▲ 79.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €61,628 | €62,328 | €90,000 | €49,381 | €104,381 | ▲ 111% |
| Non-distributable reserves130/1 | €1,128 | €0 | - | - | - | - |
| Financial assistance1313 | €1,128 | €0 | - | - | - | - |
| Distributable reserves133 | €60,500 | €62,328 | €90,000 | €49,381 | €104,381 | ▲ 111% |
| Profit (loss) carried forward14 | €131 | €591 | €787 | €787 | €149 | ▼ 81.0% |
| Amounts payable17/49 | €59,361 | €50,473 | €26,262 | €16,808 | €7,386 | ▼ 56.1% |
| Amounts payable within one year42/48 | €59,361 | €50,473 | €26,262 | €16,808 | €7,386 | ▼ 56.1% |
| Trade debts44 | €1,871 | €225 | €1,089 | €672 | €948 | ▲ 41.0% |
| Suppliers440/4 | €1,871 | €225 | €1,089 | €672 | €948 | ▲ 41.0% |
| Taxes, remuneration and social security45 | €6,900 | €13,960 | €17,575 | €4,898 | €3,704 | ▼ 24.4% |
| Taxes450/3 | €5,063 | €12,088 | €15,722 | €4,898 | €3,704 | ▼ 24.4% |
| Remuneration and social security454/9 | €1,837 | €1,872 | €1,852 | €0 | - | - |
| Other amounts payable47/48 | €50,590 | €36,288 | €7,598 | €11,238 | €2,734 | ▼ 75.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €28,281 | €31,160 | €27,869 | -€40,619 | €54,362 | ▲ 234% |
| + Depreciation and write-downs630 | €1,580 | €1,251 | €1,191 | €2,957 | €2,826 | ▼ 4.4% |
| Operating cash flow (approximation) | €29,861 | €32,412 | €29,060 | -€37,662 | €57,188 | ▲ 252% |
| Investment in fixed assets (approximation) | - | €1,370 | €0 | -€8,478 | €0 | ▲ 100% |
| Change in cash | - | -€16,740 | €2,516 | -€57,213 | €51,204 | ▲ 189% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €54,362
Net result €54,362 after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 17.29
Current ratio from 4.76 to 17.29; short-term debt falls from €16,808 to €7,386.
31-12
Financial
Equity above €100,000Eq €123,131 ▲79.1%
Equity rises from €68,768 to €123,131.
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 19 days late
2024
31-12
Financial
Weakest financial yearnet -€40,619
Net result drops to -€40,619, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €100,000Eq €109,387 ▲34.2%
6 profitable years in a row build equity to €109,387.
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
11-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
21-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Namur · 1 establishment unit since 2018
Ground area
1,670 m²
Building footprint
110 m²
Volume, LiDAR
744 m³
Parcel 92136A0190/00Y000, Wallonia · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
KEYSTONE2S SPRL
since 20182.271.806.217
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92136A0190/00Y000 | Wallonia | 1,670 m² | 1 · 110 m² | 8.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
254900R6V945OUDEVY07
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Of 24,517 companies in sector 82990 we hold annual accounts for 9,415. 7,173 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-01-2018
Fiscal year end31-12
Abbreviation FR
K2S
Activities, NACEBEL 2025
82990Other business support services
68122Development of non-residential building projects
62200Computer consultancy and computer facilities management
63910Web portal activities
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0687915684
Registered
30-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.