SECURITY TWO
ActiveSummary
For the legal form of SECURITY TWO, Checked does not compute a bankruptcy probability. The 2024 annual accounts show equity of €3.2m and a net result of -€123,737. Equity is shrinking by ~6.3% per year across the filed fiscal years. Its solvency ranks better than 70% of 37969 sector peers (fiscal year 2024). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability15▼-2
Solvency100=
Growth32=
Track record100
Credit verdict
Credit up to €170,000 at 30 days acceptable
Liquidity ample (current ratio 3.46 against 3.94 in 2023; short-term debt: 17.4% and cash: 1.6% of total assets), and 24.6% of the assets are financed with debt.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€123,737
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
60 d late
2023
31 d late
2022
60 d late
2021
235 d late
2020
90 d late
2019
87 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 94 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
In the rankings
#10 company by total assets in Verviers, Professional and technical services sector#10 company by equity in Verviers, Professional and technical services sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€123,737▼ 52.3%
2023 · -€81,262
Working capital
€1.8m▼ 12.0%
2023 · €2.1m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€116,133▼ 245%-€119,989▼ 3.3%-€95,211▲ 20.7%-€88,557▲ 7.0%-€85,676▲ 3.3%
Net result-€6,525below the sector's middle half-€134,316below the sector's middle half▼ 1,958%-€33,683below the sector's middle half▲ 74.9%-€81,262below the sector's middle half▼ 141%-€123,737below the sector's middle half▼ 52.3%
Equity€4.0mabove the sector's middle half€3.8mabove the sector's middle half▼ 4.9%€3.5mabove the sector's middle half▼ 6.4%€3.2mabove the sector's middle half▼ 8.1%
Total assets€5.4mwithin the sector's middle half▼ 8.1%€5.2mabove the sector's middle half▼ 3.9%€4.9mabove the sector's middle half▼ 4.8%€4.6mabove the sector's middle half▼ 6.9%€4.3mabove the sector's middle half▼ 6.5%
Debt€1.1m▼ 29.2%€1.2m▲ 7.4%€1.2m▼ 4.5%€1.1m▼ 8.7%€1.1m▼ 1.2%
Working capital€3.1mabove the sector's middle half▼ 15.5%€2.8mabove the sector's middle half▼ 9.6%€2.3mabove the sector's middle half▼ 18.2%€2.1mabove the sector's middle half▼ 9.9%€1.8mabove the sector's middle half▼ 12.0%
Solvency76.4%within the sector's middle half76.3%within the sector's middle half▼ 0.1pp76.8%within the sector's middle half▲ 0.4pp75.4%within the sector's middle half▼ 1.3pp
Current ratio6.00above the sector's middle half▲ 2.674.71above the sector's middle half▼ 1.294.04within the sector's middle half▼ 0.673.94within the sector's middle half▼ 0.103.46within the sector's middle half▼ 0.48
Return on assets (ROA)-0.1%below the sector's middle half▼ 3.5pp-2.6%below the sector's middle half▼ 2.5pp-0.7%below the sector's middle half▲ 1.9pp-1.8%below the sector's middle half▼ 1.1pp-2.9%below the sector's middle half▼ 1.1pp
Staff (FTE)0.9below the sector's middle half▼ 10.0%
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2021 Net result -1,958% on 2020. The accounts now follow the micro schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €85,676 in 2024 against €88,557 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €4.3m
Fixed assets
€1.7m ▼ 4.6%
Current assets
€2.6m ▼ 7.6%
Equity and liabilities €4.3m
Equity
€3.2m ▼ 8.1%
Debt
€1.1m ▼ 1.2%
Debt's share of the balance-sheet total rises from 23.2% to 24.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€12,194▲
2023 · -€14,906
Cash flow
-€50,255▼
2023 · -€7,611
Debt to equity
0.33▲
2023 · 0.30
ROE
-3.8%▼
2023 · -2.3%
Interest coverage
-0.27▲
2023 · -0.38
Debt ≤ 1 year
€747,200▲
2023 · €710,056
Debt > 1 year
€305,954▼
2023 · €355,984
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €12,907 | - | €13,410 | - |
| Remuneration, social security and pensions62 | €31,144 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €60,630 | €61,834 | €72,272 | €73,651 | €73,482 | ▼ 0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €1,537 | - |
| Other operating charges640/8 | €9,783 | €48,083 | €10,828 | €8,412 | €7,099 | ▼ 15.6% |
| Non-recurring operating charges66A | - | - | €5,293 | - | - | - |
| Gross operating margin9900 | -€14,576 | -€10,072 | -€6,818 | -€6,494 | -€3,557 | ▲ 45.2% |
| Operating profit (loss)9901 | -€116,133 | -€119,989 | -€95,211 | -€88,557 | -€85,676 | ▲ 3.3% |
| Financial income75/76B | €164,676 | €105,708 | €84,339 | €81,277 | €25,834 | ▼ 68.2% |
| Recurring financial income75 | €162,898 | €104,555 | €84,339 | €57,376 | €25,834 | ▼ 55.0% |
| Non-recurring financial income76B | €1,778 | €1,153 | - | €23,901 | - | - |
| Financial charges65/66B | €39,735 | €60,155 | €48,157 | €74,906 | €63,895 | ▼ 14.7% |
| Recurring financial charges65 | €20,836 | €26,830 | €27,226 | €39,634 | €45,668 | ▲ 15.2% |
| Non-recurring financial charges66B | €18,899 | €33,325 | €20,932 | €35,271 | €18,228 | ▼ 48.3% |
| Profit (loss) for the period before taxes9903 | €8,808 | -€74,435 | -€59,029 | -€82,186 | -€123,737 | ▼ 50.6% |
| Income taxes67/77 | €15,333 | €59,881 | -€25,346 | -€923 | - | - |
| Profit (loss) for the period9904 | -€6,525 | -€134,316 | -€33,683 | -€81,262 | -€123,737 | ▼ 52.3% |
| Profit (loss) for the period to be appropriated9905 | -€6,525 | -€134,316 | -€33,683 | -€81,262 | -€123,737 | ▼ 52.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.4m | €5.2m | €4.9m | €4.6m | €4.3m | ▼ 6.5% |
| Fixed assets21/28 | €1.6m | €1.6m | €1.9m | €1.8m | €1.7m | ▼ 4.6% |
| Intangible fixed assets21 | €219,045 | €194,707 | €170,369 | €146,031 | €121,693 | ▼ 16.7% |
| Tangible fixed assets22/27 | €1.2m | €1.2m | €1.5m | €1.4m | €1.4m | ▼ 4.1% |
| Land and buildings22 | €1.2m | €1.2m | €1.4m | €1.4m | €1.4m | ▼ 3.1% |
| Plant, machinery and equipment23 | €2,344 | €1,462 | €1,290 | €1,118 | €946 | ▼ 15.4% |
| Furniture and vehicles24 | €23,200 | €7,605 | €15,905 | €24,438 | €9,183 | ▼ 62.4% |
| Financial fixed assets28 | €221,790 | €221,790 | €221,790 | €221,790 | €221,790 | = |
| Current assets29/58 | €3.8m | €3.6m | €3.1m | €2.8m | €2.6m | ▼ 7.6% |
| Amounts receivable after more than one year29 | €1.5m | €1.5m | €1.4m | €1.3m | €1.3m | ▼ 5.5% |
| Other amounts receivable291 | €1.5m | €1.5m | €1.4m | €1.3m | €1.3m | ▼ 5.5% |
| Stocks and contracts in progress3 | €605,784 | €609,106 | - | - | - | - |
| Stocks30/36 | €605,784 | €609,106 | - | - | - | - |
| Amounts receivable within one year40/41 | €6,266 | €97,251 | €117,036 | €169,475 | €246,150 | ▲ 45.2% |
| Trade receivables40 | €1,537 | €1,537 | €1,537 | €7,500 | €16,250 | ▲ 117% |
| Other amounts receivable41 | €4,729 | €95,714 | €115,498 | €161,975 | €229,900 | ▲ 41.9% |
| Current investments50/53 | €1.4m | €1.4m | €1.3m | €1.3m | €1.0m | ▼ 20.7% |
| Cash at bank and in hand54/58 | €260,100 | €39,666 | €221,181 | €21,040 | €67,175 | ▲ 219% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.4m | €5.2m | €4.9m | €4.6m | €4.3m | ▼ 6.5% |
| Equity10/15 | - | €4.0m | €3.8m | €3.5m | €3.2m | ▼ 8.1% |
| Contributions10/11 | €62,500 | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Capital10 | €62,500 | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Issued capital100 | €62,500 | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Reserves13 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Non-distributable reserves130/1 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Legal reserve130 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | €4.1m | €3.8m | €3.6m | €3.4m | €3.1m | ▼ 8.4% |
| Amounts payable17/49 | €1.1m | €1.2m | €1.2m | €1.1m | €1.1m | ▼ 1.2% |
| Amounts payable after more than one year17 | €510,735 | €458,395 | €405,561 | €355,984 | €305,954 | ▼ 14.1% |
| Financial debts170/4 | €510,735 | €458,395 | €405,561 | €355,984 | €305,954 | ▼ 14.1% |
| Amounts payable within one year42/48 | €627,092 | €764,074 | €761,767 | €710,056 | €747,200 | ▲ 5.2% |
| Current portion of amounts payable after more than one year42 | €60,501 | €52,340 | €52,834 | €49,577 | €50,030 | ▲ 0.9% |
| Financial debts43 | €498,663 | €498,663 | €498,663 | €498,663 | €498,663 | = |
| Credit institutions430/8 | €498,663 | €498,663 | €498,663 | €498,663 | €498,663 | = |
| Trade debts44 | €1,554 | €6,586 | €454 | - | €38,507 | - |
| Suppliers440/4 | €1,554 | €6,586 | €454 | - | €38,507 | - |
| Taxes, remuneration and social security45 | €66,374 | €46,485 | €49,816 | €49,816 | €48,000 | ▼ 3.6% |
| Taxes450/3 | €65,491 | €46,485 | €49,816 | €49,816 | €48,000 | ▼ 3.6% |
| Remuneration and social security454/9 | €883 | - | - | - | - | - |
| Other amounts payable47/48 | - | €160,000 | €160,000 | €112,000 | €112,000 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,525 | -€134,316 | -€33,683 | -€81,262 | -€123,737 | ▼ 52.3% |
| + Depreciation and write-downs630 | €60,630 | €61,834 | €72,272 | €73,651 | €73,482 | ▼ 0.2% |
| Operating cash flow (approximation) | €54,105 | -€72,482 | €38,589 | -€7,611 | -€50,255 | ▼ 560% |
| Investment in fixed assets (approximation) | - | -€16,249 | -€342,685 | -€11,622 | €9,486 | ▲ 182% |
| Change in cash | - | -€220,434 | €181,515 | -€200,141 | €46,135 | ▲ 123% |
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
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
23-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 235 days late
2021
31-12
Financial
Weakest financial yearnet -€134,316
Net result drops to -€134,316, the lowest in the series; recovery starts the following year.
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 90 days late
2020
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 87 days late
2019
31-12
Financial
Highest result since 2018net €198,496 ▲1,612%
Operating result -€33,631, net result €198,496, both a record.
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
22-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 22 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
2016
26-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 26 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Verviers · 1 establishment unit since 2004
Ground area
2,500 m²
Building footprint
333 m²
Volume, LiDAR
1,159 m³
2 parcels, Wallonia · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
SECURITY TWO
since 20042.195.409.809
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63043A0103/00E000 | Wallonia | 1,273 m² | 1 · 198 m² | 8.5 m · 2 fl. |
| 62101C0046/00M000 | Wallonia | 1,227 m² | 1 · 135 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
3 holdingsOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 3
-
50%
-
34%
-
31%
According to the 2024 annual accounts of SECURITY TWO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
9845005F2DD598AID450
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Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 15,109 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPartnership limited by shares
Founded23-12-2004
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
E-invoicing
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Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.