TWO-ELEC
ActiveSummary
TWO-ELEC has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €178,581 and a net result of €4,163. Equity is growing by ~3.2% per year across the filed fiscal years. Its solvency ranks better than 36% of 2062 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability53▼-12
Solvency58▼-7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity tight (current ratio 1.38 against 1.82 in 2024; short-term debt: 41.7% and cash: 3.4% of total assets), and 67.4% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
32.6%
Return on assets
0.8%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 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
21 d late
2024
29 d late
2023
7 d early
2022
65 d late
2021
59 d late
2020
91 d late
2019
45 d late
← 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 43 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€4,163▼ 76.4%
2024 · €17,624
Working capital
€85,939▼ 34.0%
2024 · €130,245
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Line20212022202320242025
Operating result€7,977▼ 68.1%€9,404▲ 17.9%€15,704▲ 67.0%€34,296▲ 118%€14,729▼ 57.1%
Net result€1,329below the sector's middle half▼ 82.2%-€1,824below the sector's middle half€857below the sector's middle half€17,624within the sector's middle half▲ 1,956%€4,163within the sector's middle half▼ 76.4%
Equity€157,761within the sector's middle half▲ 0.8%€155,936above the sector's middle half▼ 1.2%€156,794within the sector's middle half▲ 0.5%€174,417within the sector's middle half▲ 11.2%€178,581within the sector's middle half▲ 2.4%
Total assets€708,792within the sector's middle half▼ 5.0%€636,787above the sector's middle half▼ 10.2%€532,385within the sector's middle half▼ 16.4%€433,483within the sector's middle half▼ 18.6%€547,910within the sector's middle half▲ 26.4%
Debt€551,031▼ 6.5%€480,851▼ 12.7%€375,591▼ 21.9%€259,066▼ 31.0%€369,330▲ 42.6%
Working capital€107,349▲ 3.1%€108,056▲ 0.7%€112,479▲ 4.1%€130,245▲ 15.8%€85,939▼ 34.0%
Solvency22.3%within the sector's middle half▲ 1.3pp24.5%within the sector's middle half▲ 2.2pp29.5%within the sector's middle half▲ 5.0pp40.2%within the sector's middle half▲ 10.8pp32.6%within the sector's middle half▼ 7.6pp
Staff (FTE)10within the sector's middle half3.8below the sector's middle half▼ 62.0%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 57% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €547,910
Fixed assets
€233,441 ▲ 61.2%
Current assets
€314,470 ▲ 8.9%
Equity and liabilities €547,910
Equity
€178,581 ▲ 2.4%
Debt
€369,330 ▲ 42.6%
Debt's share of the balance-sheet total rises from 59.8% to 67.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€38,717▼
2024 · €52,596
Cash flow
€28,151▼
2024 · €35,924
Current ratio
1.38▼
2024 · 1.82
Quick ratio
1.14▼
2024 · 1.52
Debt to equity
2.07▲
2024 · 1.49
ROE
2.3%▼
2024 · 10.1%
ROA
0.8%▼
2024 · 4.1%
Interest coverage
3.98▼
2024 · 4.94
Debt ≤ 1 year
€228,530▲
2024 · €158,466
Debt > 1 year
€140,799▲
2024 · €100,600
Income taxes
€1,468▼
2024 · €6,205
Staff costs
€180,600▲
2024 · €154,935
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.6%
went bankrupt
4.0%
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 higher bankruptcy probability: 0.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 10,905 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €407,402 | €401,693 | €264,633 | €154,935 | €180,600 | ▲ 16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,629 | €24,915 | €20,767 | €18,300 | €23,988 | ▲ 31.1% |
| Other operating charges640/8 | €7,993 | €6,629 | €14,100 | €5,375 | €9,296 | ▲ 72.9% |
| Non-recurring operating charges66A | - | - | €28,894 | - | - | - |
| Gross operating margin9900 | €450,001 | €442,641 | €344,098 | €212,906 | €228,613 | ▲ 7.4% |
| Operating profit (loss)9901 | €7,977 | €9,404 | €15,704 | €34,296 | €14,729 | ▼ 57.1% |
| Financial income75/76B | €5,251 | €15 | - | €177 | €640 | ▲ 262% |
| Recurring financial income75 | €5,251 | €15 | - | €177 | €640 | ▲ 262% |
| Financial charges65/66B | €7,472 | €7,402 | €13,007 | €10,644 | €9,737 | ▼ 8.5% |
| Recurring financial charges65 | €7,472 | €7,402 | €13,007 | €10,644 | €9,737 | ▼ 8.5% |
| Profit (loss) for the period before taxes9903 | €5,756 | €2,017 | €2,697 | €23,829 | €5,632 | ▼ 76.4% |
| Income taxes67/77 | €4,427 | €3,842 | €1,840 | €6,205 | €1,468 | ▼ 76.3% |
| Profit (loss) for the period9904 | €1,329 | -€1,824 | €857 | €17,624 | €4,163 | ▼ 76.4% |
| Profit (loss) for the period to be appropriated9905 | €1,329 | -€1,824 | €857 | €17,624 | €4,163 | ▼ 76.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €708,792 | €636,787 | €532,385 | €433,483 | €547,910 | ▲ 26.4% |
| Fixed assets21/28 | €198,601 | €175,975 | €155,519 | €144,772 | €233,441 | ▲ 61.2% |
| Tangible fixed assets22/27 | €195,347 | €172,721 | €147,805 | €137,058 | €225,727 | ▲ 64.7% |
| Land and buildings22 | €129,783 | €121,131 | €112,479 | €103,827 | €95,174 | ▼ 8.3% |
| Plant, machinery and equipment23 | €41,653 | €37,240 | €30,539 | €30,887 | €80,451 | ▲ 160% |
| Furniture and vehicles24 | €23,911 | €14,349 | €4,788 | €2,344 | €50,102 | ▲ 2,038% |
| Financial fixed assets28 | €3,254 | €3,254 | €7,714 | €7,714 | €7,714 | = |
| Current assets29/58 | €510,191 | €460,812 | €376,865 | €288,711 | €314,470 | ▲ 8.9% |
| Stocks and contracts in progress3 | €73,150 | €66,944 | €56,902 | €48,367 | €52,960 | ▲ 9.5% |
| Stocks30/36 | €73,150 | €66,944 | €56,902 | €48,367 | €52,960 | ▲ 9.5% |
| Amounts receivable within one year40/41 | €382,713 | €312,329 | €272,490 | €181,658 | €242,958 | ▲ 33.7% |
| Trade receivables40 | €358,027 | €277,375 | €209,454 | €149,611 | €230,095 | ▲ 53.8% |
| Other amounts receivable41 | €24,686 | €34,955 | €63,036 | €32,046 | €12,863 | ▼ 59.9% |
| Cash at bank and in hand54/58 | €54,328 | €81,539 | €47,473 | €58,686 | €18,552 | ▼ 68.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €708,792 | €636,787 | €532,385 | €433,483 | €547,910 | ▲ 26.4% |
| Equity10/15 | €157,761 | €155,936 | €156,794 | €174,417 | €178,581 | ▲ 2.4% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Issued capital100 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €137,301 | €135,476 | €136,334 | €153,957 | €158,121 | ▲ 2.7% |
| Amounts payable17/49 | €551,031 | €480,851 | €375,591 | €259,066 | €369,330 | ▲ 42.6% |
| Amounts payable after more than one year17 | €145,146 | €125,051 | €111,205 | €100,600 | €140,799 | ▲ 40.0% |
| Financial debts170/4 | €145,146 | €125,051 | €111,205 | €100,600 | €140,799 | ▲ 40.0% |
| Amounts payable within one year42/48 | €402,842 | €352,757 | €264,387 | €158,466 | €228,530 | ▲ 44.2% |
| Current portion of amounts payable after more than one year42 | €27,598 | €29,467 | €37,970 | €6,897 | €22,731 | ▲ 230% |
| Financial debts43 | €150,000 | €150,000 | €120,000 | €110,000 | €100,000 | ▼ 9.1% |
| Credit institutions430/8 | €150,000 | €150,000 | €120,000 | €110,000 | €100,000 | ▼ 9.1% |
| Trade debts44 | €94,082 | €67,981 | €28,935 | €4,177 | €63,448 | ▲ 1,419% |
| Suppliers440/4 | €94,082 | €67,981 | €28,935 | €4,177 | €63,448 | ▲ 1,419% |
| Advances received on contracts in progress46 | - | €2,000 | - | - | - | - |
| Taxes, remuneration and social security45 | €101,538 | €79,184 | €48,056 | €20,267 | €21,927 | ▲ 8.2% |
| Taxes450/3 | €18,649 | €10,278 | €6,848 | €64 | €2,983 | ▲ 4,529% |
| Remuneration and social security454/9 | €82,889 | €68,906 | €41,209 | €20,202 | €18,944 | ▼ 6.2% |
| Other amounts payable47/48 | €29,625 | €24,125 | €29,425 | €17,125 | €20,425 | ▲ 19.3% |
| Accrued charges and deferred income492/3 | €3,043 | €3,043 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,329 | -€1,824 | €857 | €17,624 | €4,163 | ▼ 76.4% |
| + Depreciation and write-downs630 | €26,629 | €24,915 | €20,767 | €18,300 | €23,988 | ▲ 31.1% |
| Operating cash flow (approximation) | €27,958 | €23,091 | €21,624 | €35,924 | €28,151 | ▼ 21.6% |
| Investment in fixed assets (approximation) | - | -€2,289 | -€312 | -€7,553 | -€112,657 | ▼ 1,392% |
| Change in cash | - | €27,211 | -€34,066 | €11,214 | -€40,134 | ▼ 458% |
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
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 21 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €857
Net result €857 after one loss-making year.
04-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 65 days late
2022
31-12
Financial
Weakest financial yearnet -€1,824
Net result drops to -€1,824, the lowest in the series; recovery starts the following year.
28-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 59 days late
2021
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 91 days late
2020
31-12
Financial
Equity above €150,000Eq €156,432 ▲5%
3 profitable years in a row build equity to €156,432.
14-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 45 days late
2019
31-12
Financial
Highest result since 2018net €34,005 ▲1,390%
Operating result €60,731, net result €34,005, both a record.
12-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 12 days late
2018
27-03
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 18 days late
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, Sambreville · 1 establishment unit since 2018
Ground area
875 m²
Building footprint
242 m²
Parcel 92121B0614/00W000, Wallonia. Linked by address, not a title deed.
1 establishment unit
TWO-ELEC
since 20182.275.899.122
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92121B0614/00W000 | Wallonia | 875 m² | 1 · 242 m² | - |
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
Recognised contractor
1 categoryTWO-ELEC SRL41334
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Of 22,831 companies in sector 43211 we hold annual accounts for 10,335. 8,416 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 (pre-2019)
Founded28-03-2011
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
46431Wholesale of electrical household appliances and audio-video equipment
47552Retail sale of lighting equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0834878307
Also
9925:BE0834878307
Registered
09-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.