TWO FACES

Inactive

KBO/BCE: BE 0441.582.305

Inactive. The last annual accounts are for financial year 2015.

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TWO FACESInactive

Report

Overview

Official details

Source: KBO

Status: Inactive deed of incorporation of 18-10-1990 · last publication under the heading Restructuring on 10-11-2015
Activity: No activity registered in the KBO
Financial year end: 31 March
Peppol: Not found in the Peppol Directory

Company details

Financial position

No score

Annual accounts to 31-03-2015

Turnover: €14.0m; ▲ 6.0%
Profit: €585,115; ▲ 10.2%
Equity: €4.2m; ▼ 17.8%
Total assets: €8.1m; ▲ 6.8%
Staff: 20.1 FTE; ▲ 3.6%

Financials

Financials · financial year 2015, full format

Annual accounts 2015 filed on 30-10-2015 PDF all 25 filings

Turnover

€14.0m▲ 6.0%

2014 · €13.2m

EBIT margin

7.3%▼ 0.1pp

2014 · 7.4%

Net result

€585,115▲ 10.2%

2014 · €530,904

Working capital

€3.3m▼ 23.0%

2014 · €4.3m

Multi-year overview

2011 to 2015, 5 financial years

Turnover

€14.0m

▲ 6.0% 2015

20112015

Operating result

€1.0m

▲ 4.6% 2015

20112015

Net result

€585,115

▲ 10.2% 2015

20112015

EBIT margin

7.3%

▼ 0.1pp 2015

20112015

Equity

€4.2m

▼ 17.8% 2015

20112015

Total assets

€8.1m

▲ 6.8% 2015

20112015

Debt

€3.8m

▲ 59.1% 2015

20112015

Working capital

€3.3m

▼ 23.0% 2015

20112015

Staff (FTE)

20.1

▲ 3.6% 2015

20112015

Every figure per financial year

Every figure with its change against the financial year before

favourable unfavourable

Line20112012201320142015

Turnover€13.2m€14.0m▲ 6.0%

Operating result€1.2m-€1.2m▲ 0.6%€1.4m▲ 15.4%€1.0m▼ 29.1%€1.0m▲ 4.6%

Net result€0.7m-€0.7m▼ 2.6%€0.8m▲ 15.7%€0.5m▼ 30.5%€0.6m▲ 10.2%

EBIT margin7.4%7.3%▼ 0.1pp

Equity€3.2m-€3.8m▲ 20.7%€4.6m▲ 19.9%€5.1m▲ 11.5%€4.2m▼ 17.8%

Total assets€4.9m-€5.1m▲ 3.6%€6.6m▲ 30.0%€7.5m▲ 14.0%€8.1m▲ 6.8%

Debt€1.7m-€1.2m▼ 27.9%€2.0m▲ 61.2%€2.4m▲ 19.8%€3.8m▲ 59.1%

Working capital€3.0m-€3.6m▲ 17.9%€4.4m▲ 21.4%€4.3m▼ 2.1%€3.3m▼ 23.0%

Staff (FTE)11.4-15.9▲ 39.5%18.9▲ 18.9%19.4▲ 2.6%20.1▲ 3.6%

The operating result for 2015 is 5% higher than in 2014. It is a recovery after the fall in 2014.

Balance-sheet composition

2015 in colour, 2014 as the grey bar beneath

Assets €8.1m

17.8%

82.2%

Fixed assets €1.4m ▲ 4.1%

Current assets €6.6m ▲ 7.4%

Equity and liabilities €8.1m

52.4%

47.6%

Equity €4.2m ▼ 17.8%

Debt €3.8m ▲ 59.1%

Debt's share of the balance-sheet total rises from 31.9% to 47.6%. Equity is lower and debt is higher.

Key figures and ratios

2015 value · change against 2014

EBITDA

€1.3m▲

2014 · €1.1m

Cash flow

€840,066▲

2014 · €688,959

Current ratio

1.98▼

2014 · 3.23

Quick ratio

1.64▼

2014 · 2.58

Debt to equity

0.09▲

2014 · 0.09

ROE

13.9%▲

2014 · 10.3%

ROA

7.3%▲

2014 · 7.0%

Interest coverage

56.10▲

2014 · 52.56

Debt ≤ 1 year

€3.3m▲

2014 · €1.9m

Debt > 1 year

€398,595▼

2014 · €456,979

Income taxes

€255,558▲

2014 · €235,130

Customer credit

44 days▲

2014 · 42 days

Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Last 5 years All years

Filed annual accounts As filed with the NBB · 2015 against 2014 · 29 lines

Balance sheet Code20142015

Assets

Total assets20/58€7.5m€8.1m▲

Fixed assets21/28€1.4m€1.4m▲

Intangible fixed assets21€0.1m€0.09m▼

Tangible fixed assets22/27€1.3m€1.3m▲

Financial fixed assets28€0.004m€0.001m▼

Current assets29/58€6.2m€6.6m▲

Stocks and contracts in progress3€1.2m€1.1m▼

Amounts receivable within one year40/41€1.5m€1.7m▲

Current investments50/53€2.5m€2.2m▼

Cash at bank and in hand54/58€0.9m€1.6m▲

Equity and liabilities

Total equity and liabilities10/49€7.5m€8.1m▲

Equity10/15€5.1m€4.2m▼

Contributions10/11€0.2m€0.2m=

Reserves13€4.9m€4.0m▼

Amounts payable17/49€2.4m€3.8m▲

Amounts payable after more than one year17€0.5m€0.4m▼

Amounts payable within one year42/48€1.9m€3.3m▲

Trade debts44€1.0m€1.3m▲

Income statement Code20142015

Turnover70€13.2m€14.0m▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.2m€0.3m▲

Operating profit (loss)9901€1.0m€1.0m▲

Recurring financial income75€0.07m€0.08m▲

Recurring financial charges65€0.3m€0.3m▼

Debt charges650€0.02m€0.02m▲

Profit (loss) for the period before taxes9903€0.8m€0.8m▲

Income taxes67/77€0.2m€0.3m▲

Profit (loss) for the period9904€0.5m€0.6m▲

Profit (loss) for the period to be appropriated9905€0.5m€0.6m▲

Appropriation of the result

Return on contributions (dividend)694-€1.5m

Source: Annual accounts 2015 (PDF), filed on 30-10-2015.

Line	2011	2012	2013	2014	2015	Change
Turnover70	-	-	-	€13.2m	€14.0m	▲ 6.0%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€0.1m	€0.1m	€0.1m	€0.2m	€0.3m	▲ 61.3%
Gross operating margin9900	€1.9m	€2.1m	€2.5m	-	-	-
Operating profit (loss)9901	€1.2m	€1.2m	€1.4m	€1.0m	€1.0m	▲ 4.6%
Recurring financial income75	€0.03m	€0.04m	€0.04m	€0.07m	€0.08m	▲ 21.1%
Recurring financial charges65	€0.2m	€0.2m	€0.3m	€0.3m	€0.3m	▼ 6.2%
Debt charges650	-	-	-	€0.02m	€0.02m	▲ 5.4%
Profit (loss) for the period before taxes9903	€1.0m	€1.0m	€1.1m	€0.8m	€0.8m	▲ 9.7%
Income taxes67/77	€0.3m	€0.3m	€0.4m	€0.2m	€0.3m	▲ 8.7%
Profit (loss) for the period9904	€0.7m	€0.7m	€0.8m	€0.5m	€0.6m	▲ 10.2%
Profit (loss) for the period to be appropriated9905	€0.7m	€0.7m	€0.8m	€0.5m	€0.6m	▲ 10.2%

Line	2011	2012	2013	2014	2015	Change
Assets
Total assets20/58	€4.9m	€5.1m	€6.6m	€7.5m	€8.1m	▲ 6.8%
Fixed assets21/28	€0.2m	€0.3m	€0.3m	€1.4m	€1.4m	▲ 4.1%
Intangible fixed assets21	€0.03m	€0.1m	€0.1m	€0.1m	€0.09m	▼ 13.4%
Tangible fixed assets22/27	€0.2m	€0.2m	€0.2m	€1.3m	€1.3m	▲ 5.7%
Financial fixed assets28	€0.02m	€0.02m	€0.004m	€0.004m	€0.001m	▼ 64.3%
Current assets29/58	€4.7m	€4.7m	€6.3m	€6.2m	€6.6m	▲ 7.4%
Stocks and contracts in progress3	€0.6m	€0.6m	€0.8m	€1.2m	€1.1m	▼ 7.8%
Amounts receivable within one year40/41	€1.6m	€2.0m	€1.5m	€1.5m	€1.7m	▲ 10.6%
Current investments50/53	€2.0m	€1.1m	€3.0m	€2.5m	€2.2m	▼ 13.0%
Cash at bank and in hand54/58	€0.4m	€0.9m	€1.0m	€0.9m	€1.6m	▲ 78.2%
Equity and liabilities
Total equity and liabilities10/49	€4.9m	€5.1m	€6.6m	€7.5m	€8.1m	▲ 6.8%
Equity10/15	€3.2m	€3.8m	€4.6m	€5.1m	€4.2m	▼ 17.8%
Contributions10/11	€0.2m	€0.2m	€0.2m	€0.2m	€0.2m	=
Reserves13	€3.0m	€3.6m	€4.4m	€4.9m	€4.0m	▼ 18.6%
Amounts payable17/49	€1.7m	€1.2m	€2.0m	€2.4m	€3.8m	▲ 59.1%
Amounts payable after more than one year17	€0.08m	€0.07m	€0.08m	€0.5m	€0.4m	▼ 12.8%
Amounts payable within one year42/48	€1.6m	€1.2m	€1.9m	€1.9m	€3.3m	▲ 75.1%
Trade debts44	€1.2m	€0.7m	€1.5m	€1.0m	€1.3m	▲ 32.9%

Line	2011	2012	2013	2014	2015	Change
Profit (loss) for the period9904	€0.7m	€0.7m	€0.8m	€0.5m	€0.6m	▲ 10.2%
+ Depreciation and write-downs630	€0.1m	€0.1m	€0.1m	€0.2m	€0.3m	▲ 61.3%
Operating cash flow (approximation)	€0.8m	€0.8m	€0.9m	€0.7m	€0.8m	▲ 21.9%
Investment in fixed assets (approximation)	-	-€0.2m	-€0.1m	-€1.2m	-€0.3m	▲ 74.0%
Change in cash	-	€0.5m	€0.03m	-€0.08m	€0.7m	-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 25 filings with the National Bank

Financial year	Type	Filed	Reference	Document
31-03-2015	full format	30-10-2015	2015-66300218	PDF
31-03-2014	full format	30-10-2014	2014-66100125	PDF
31-03-2013	abbreviated format	23-09-2013	2013-59100106	PDF
31-03-2012	abbreviated format	27-10-2012	2012-63000396	PDF
31-03-2011	abbreviated format	01-11-2011	2011-59600106	PDF
31-03-2010	abbreviated format	09-09-2010	2010-53900403	PDF
31-03-2009	abbreviated format	21-09-2009	2009-76600273	PDF
31-03-2008	abbreviated format	29-10-2008	2008-80000295	PDF
31-03-2007	abbreviated format	02-10-2007	2007-76200206	PDF
31-03-2006	abbreviated format	22-09-2006	2006-79303887	PDF

Show all 25 filings

Board & ownership

Directors

Office holders in the KBO →

Owners and capital

Owners through the years

2011 to 2014

Owners through the years
Name	2011	2012	2013	2014
Duror Fashion Group 2011 to 2014: 99%	99%

Source: lists of holdings in the owners' accounts

Network & group

Holdings through the years

2007 to 2014

Holdings through the years
Name	2007	2008	2014
COPINE 2014: 5%			5%
Duror 2007 to 2008: 27.83%	27.83%

Source: list of holdings in its own accounts

Connections & network

See the function holders in the KBO register.

Timeline

Deeds, filings and financial milestones

All 15Financial 3Gazette 2Filings 10 of 25

2015

10-11

Gazette deed Restructuring

30-10

NBB filing Annual accounts 2015 filedPDF

full format · 1 day before the deadline

2014

30-10

NBB filing Annual accounts 2014 filedPDF

full format · 1 day before the deadline

31-03

Financial Weakest financial yearnet €530,904 ▼30.5%

The net result drops to €530,904, the lowest from 2011 to 2015.

31-03

Financial Equity above €5mequity €5.1m ▲11.5%

With a profit in every financial year since 2011, equity grows to €5.1m.

2013

23-09

NBB filing Annual accounts 2013 filedPDF

abbreviated format · 38 days before the deadline

31-03

Financial Highest result from 2011 to 2015net €763,889 ▲15.7%

The operating result of €1.4m and the net result of €763,889 are both a record.

2012

27-10

NBB filing Annual accounts 2012 filedPDF

abbreviated format · 4 days before the deadline

2011

01-11

NBB filing Annual accounts 2011 filedPDF

abbreviated format · 1 day late

2010

09-09

NBB filing Annual accounts 2010 filedPDF

abbreviated format · 52 days before the deadline

2009

21-09

NBB filing Annual accounts 2009 filedPDF

abbreviated format · 40 days before the deadline

2008

29-10

NBB filing Annual accounts 2008 filedPDF

abbreviated format · 2 days before the deadline

Show earlier events

2007

02-10

NBB filing Annual accounts 2007 filedPDF

abbreviated format · 29 days before the deadline

2006

22-09

NBB filing Annual accounts 2006 filedPDF

abbreviated format · 39 days before the deadline

1990

18-10

Gazette deed Incorporation

22 publications in the Belgian Official Gazette, the last on 10-11-2015

Show all 25 filings

Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.

Sources:Publications in the Belgian Official Gazette Filings with the National Bank

Company details

Inactive

TWO FACES is no longer in the KBO register.

Status: Inactive
Last annual accounts: financial year to 31 March 2015
Last registered office: 'S Gravendreef 24, 9810 Ekeas published on 10 November 2015
Legal form: Public limited company
First annual accounts: financial year 1991

Official KBO record