SECURITY TWO
ActiveSummary
SECURITY TWO has the legal form “Partnership limited by shares” in the KBO; Checked does not compute a bankruptcy probability for it. The 2024 annual accounts show equity of €3.2m and a net result of -€123,737. Equity is shrinking by about 6.3% per year across the filed financial years. The company has been active since 2004 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 Financial year closed on 31 December 2025; filing due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 20 October 2026.
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
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result stays negative: a loss of €85,676 in 2024 against €88,557 in 2023; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.09m
2024
Net result-€0.1m
2024
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€4.3m
2024
Equity€3.2m
2024
Debt€1.1m
2024
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€1.8m
2024
Average staff in full-time equivalents (FTE).
Staff (FTE)0.9
2020
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result-€0.06m--€0.03m▲ 44.9%-€0.1m▼ 245%-€0.1m▼ 3.3%-€0.1m▲ 20.7%-€0.09m▲ 7.0%-€0.09m▲ 3.3%
Net result€0.01m-€0.2m▲ 1,612%-€0.007m-€0.1m▼ 1,958%-€0.03m▲ 74.9%-€0.08m▼ 141%-€0.1m▼ 52.3%
Equity€5.1m-€4.3m▼ 15.8%€4.0m€3.8m▼ 4.9%€3.5m▼ 6.4%€3.2m▼ 8.1%
Total assets€5.6m-€5.9m▲ 5.2%€5.4m▼ 8.1%€5.2m▼ 3.9%€4.9m▼ 4.8%€4.6m▼ 6.9%€4.3m▼ 6.5%
Debt€0.5m-€1.6m▲ 213%€1.1m▼ 29.2%€1.2m▲ 7.4%€1.2m▼ 4.5%€1.1m▼ 8.7%€1.1m▼ 1.2%
Working capital€4.8m-€3.7m▼ 22.7%€3.1m▼ 15.5%€2.8m▼ 9.6%€2.3m▼ 18.2%€2.1m▼ 9.9%€1.8m▼ 12.0%
Staff (FTE)1-1=0.9▼ 10.0%
Why a figure moved sharply
- 2021 Net result -1,958% on 2020. The accounts now follow the micro format, last year the full format.
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
Current ratio
3.46▼
2023 · 3.94
Debt to equity
0.33▲
2023 · 0.30
ROE
-3.8%▼
2023 · -2.3%
ROA
-2.9%▼
2023 · -1.8%
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 | 2018 | 2019 | 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 | €9,484 | €2,355 | €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 | -€16,323 | €3,287 | -€14,576 | -€10,072 | -€6,818 | -€6,494 | -€3,557 | ▲ 45.2% |
| Operating profit (loss)9901 | -€61,045 | -€33,631 | -€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 | €149,681 | €320,589 | €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 | €6,857 | €11,560 | €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 | €81,779 | €286,627 | €8,808 | -€74,435 | -€59,029 | -€82,186 | -€123,737 | ▼ 50.6% |
| Income taxes67/77 | €70,187 | €88,132 | €15,333 | €59,881 | -€25,346 | -€923 | - | - |
| Profit (loss) for the period9904 | €11,593 | €198,496 | -€6,525 | -€134,316 | -€33,683 | -€81,262 | -€123,737 | ▼ 52.3% |
| Profit (loss) for the period to be appropriated9905 | €11,593 | €198,496 | -€6,525 | -€134,316 | -€33,683 | -€81,262 | -€123,737 | ▼ 52.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €5.6m | €5.9m | €5.4m | €5.2m | €4.9m | €4.6m | €4.3m | ▼ 6.5% |
| Fixed assets21/28 | €0.3m | €0.6m | €1.6m | €1.6m | €1.9m | €1.8m | €1.7m | ▼ 4.6% |
| Intangible fixed assets21 | - | - | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 16.7% |
| Tangible fixed assets22/27 | €0.002m | €0.3m | €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 | - | - | €0.002m | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 15.4% |
| Furniture and vehicles24 | - | - | €0.02m | €0.008m | €0.02m | €0.02m | €0.009m | ▼ 62.4% |
| Financial fixed assets28 | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Current assets29/58 | €5.3m | €5.3m | €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 | - | - | €0.6m | €0.6m | - | - | - | - |
| Stocks30/36 | - | - | €0.6m | €0.6m | - | - | - | - |
| Amounts receivable within one year40/41 | €1.7m | €1.9m | €0.006m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 45.2% |
| Trade receivables40 | - | - | €0.002m | €0.002m | €0.002m | €0.007m | €0.02m | ▲ 117% |
| Other amounts receivable41 | - | - | €0.005m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 41.9% |
| Current investments50/53 | €1.9m | €1.7m | €1.4m | €1.4m | €1.3m | €1.3m | €1.0m | ▼ 20.7% |
| Cash at bank and in hand54/58 | €0.04m | €0.1m | €0.3m | €0.04m | €0.2m | €0.02m | €0.07m | ▲ 219% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €5.6m | €5.9m | €5.4m | €5.2m | €4.9m | €4.6m | €4.3m | ▼ 6.5% |
| Equity10/15 | €5.1m | €4.3m | - | €4.0m | €3.8m | €3.5m | €3.2m | ▼ 8.1% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Non-distributable reserves130/1 | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Legal reserve130 | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | €4.9m | €4.1m | €4.1m | €3.8m | €3.6m | €3.4m | €3.1m | ▼ 8.4% |
| Amounts payable17/49 | €0.5m | €1.6m | €1.1m | €1.2m | €1.2m | €1.1m | €1.1m | ▼ 1.2% |
| Amounts payable after more than one year17 | - | €0.009m | €0.5m | €0.5m | €0.4m | €0.4m | €0.3m | ▼ 14.1% |
| Financial debts170/4 | - | - | €0.5m | €0.5m | €0.4m | €0.4m | €0.3m | ▼ 14.1% |
| Amounts payable within one year42/48 | €0.5m | €1.6m | €0.6m | €0.8m | €0.8m | €0.7m | €0.7m | ▲ 5.2% |
| Current portion of amounts payable after more than one year42 | - | - | €0.06m | €0.05m | €0.05m | €0.05m | €0.05m | ▲ 0.9% |
| Financial debts43 | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Credit institutions430/8 | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Trade debts44 | €0.003m | €0.04m | €0.002m | €0.007m | €454 | - | €0.04m | - |
| Suppliers440/4 | - | - | €0.002m | €0.007m | €454 | - | €0.04m | - |
| Taxes, remuneration and social security45 | - | - | €0.07m | €0.05m | €0.05m | €0.05m | €0.05m | ▼ 3.6% |
| Taxes450/3 | - | - | €0.07m | €0.05m | €0.05m | €0.05m | €0.05m | ▼ 3.6% |
| Remuneration and social security454/9 | - | - | €0.001m | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.2m | €0.1m | €0.1m | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.01m | €0.2m | -€0.007m | -€0.1m | -€0.03m | -€0.08m | -€0.1m | ▼ 52.3% |
| + Depreciation and write-downs630 | €0.009m | €0.002m | €0.06m | €0.06m | €0.07m | €0.07m | €0.07m | ▼ 0.2% |
| Operating cash flow (approximation) | €0.02m | €0.2m | €0.05m | -€0.07m | €0.04m | -€0.008m | -€0.05m | ▼ 560% |
| Investment in fixed assets (approximation) | - | -€0.3m | -€1.1m | -€0.02m | -€0.3m | -€0.01m | €0.009m | - |
| Change in cash | - | €0.1m | €0.1m | -€0.2m | €0.2m | -€0.2m | €0.05m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | micro format | 29-09-2025 | 2025-00509117 |
| 31-12-2023 | micro format | 31-08-2024 | 2024-00423996 |
| 31-12-2022 | micro format | 29-09-2023 | 2023-00458905 |
| 31-12-2021 | micro format | 23-03-2023 | 2023-00043840 |
| 31-12-2020 | full format | 29-10-2021 | 2021-75500092 |
| 31-12-2019 | micro format | 26-10-2020 | 2020-63300563 |
| 31-12-2018 | full format | 05-07-2019 | 2019-30200011 |
| 31-12-2017 | full format | 22-08-2018 | 2018-48100161 |
| 31-12-2016 | full format | 30-08-2017 | 2017-53700225 |
| 31-12-2015 | full format | 26-08-2016 | 2016-48900212 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.