TWO FOR TREES
ActiveSummary
TWO FOR TREES has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €315k and a net result of €220. Equity is growing by ~35.1% per year across the filed fiscal years. Its solvency ranks better than 36% of 1747 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+5
Solvency56▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22k at 30 days acceptable
Liquidity ample (current ratio 1.63 against 0.8 in 2024; short-term debt: 24.6% and cash: 4.9% of total assets), but 68.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% 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
31.2%
Return on assets
0%
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 31-08-2026, 31 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
31 d late
2024
88 d late
2023
30 d late
2022
6 d early
2021
4 d early
2020
5 d early
2019
3 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€220▼ 98.0%
2024 · €11k
2018: €-21klowest in 8 years
2019: €15k▲ +173% vs 2018
2020: €18k▲ +20.8% vs 2019
2021: €64k▲ +248% vs 2020
2022: €361k▲ +468% vs 2021highest in 8 years
2023: €112k▼ -69.1% vs 2022
2024: €11k▼ -90.4% vs 2023
2025: €220▼ -98.0% vs 2024
2018 → 2025
Working capital
€157k
2024 · €-134k
2018: €-50k
2019: €6k▲ +113% vs 2018
2020: €20k▲ +212% vs 2019
2021: €639k▲ +3119% vs 2020highest in 8 years
2022: €254k▼ -60.2% vs 2021
2023: €191k▼ -25.0% vs 2022
2024: €-134k▼ -170% vs 2023lowest in 8 years
2025: €157k▲ +217% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€103k-€320k▲ 212%€315k▼ 1.8%€315k=€315k▲ 0.1%
2021: €103klowest in 5 years
2022: €320k▲ +212% vs 2021highest in 5 years
2023: €315k▼ -1.8% vs 2022
2024: €315k● 0.0% vs 2023
2025: €315k▲ +0.1% vs 2024
Operating result€72k-€493k▲ 588%€146k▼ 70.4%€51k▼ 65.0%€22k▼ 56.5%
2021: €72k
2022: €493k▲ +588% vs 2021highest in 5 years
2023: €146k▼ -70.4% vs 2022
2024: €51k▼ -65.0% vs 2023
2025: €22k▼ -56.5% vs 2024lowest in 5 years
Net result€64k-€361k▲ 468%€112k▼ 69.1%€11k▼ 90.4%€220▼ 98.0%
2021: €64k
2022: €361k▲ +468% vs 2021highest in 5 years
2023: €112k▼ -69.1% vs 2022
2024: €11k▼ -90.4% vs 2023
2025: €220▼ -98.0% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 57% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.01M
Fixed assets
€603k ▼ 17.8%
Current assets
€405k ▼ 26.3%
Equity and liabilities €1.01M
Equity
€315k ▲ 0.1%
Debt
€694k ▼ 28.4%
Debt's share of the balance-sheet total falls from 75.5% to 68.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€203k▲
2024 · €169k
Cash flow
€181k▲
2024 · €129k
Current ratio
1.63▲
2024 · 0.80
Debt to equity
2.20▼
2024 · 3.08
ROE
0.1%▼
2024 · 3.4%
ROA
0.0%▼
2024 · 0.8%
Interest coverage
9.22▲
2024 · 5.29
Debt ≤ 1 year
€248k▼
2024 · €684k
Debt > 1 year
€446k▲
2024 · €285k
Income taxes
€0▼
2024 · €8k
Staff costs
€102k▼
2024 · €108k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.28M€1.01M▼
Fixed assets21/28€734k€603k▼
Intangible fixed assets21-€2k
Tangible fixed assets22/27€734k€601k▼
Furniture and vehicles24€734k€601k▼
Financial fixed assets28€279€279=
Current assets29/58€550k€405k▼
Amounts receivable within one year40/41€430k€336k▼
Trade receivables40€354k€313k▼
Other amounts receivable41€75k€24k▼
Cash at bank and in hand54/58€105k€49k▼
Deferred charges and accrued income490/1€15k€20k▲
Equity and liabilities
Total equity and liabilities10/49€1.28M€1.01M▼
Equity10/15€315k€315k▲
Contributions10/11€48k€48k=
Reserves13€266k€266k▲
Distributable reserves133€266k€266k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€970k€694k▼
Amounts payable after more than one year17€285k€446k▲
Financial debts170/4€285k€446k▲
Amounts payable within one year42/48€684k€248k▼
Current portion of amounts payable after more than one year42€109k€140k▲
Trade debts44€464k€26k▼
Suppliers440/4€464k€26k▼
Taxes, remuneration and social security45€18k€16k▼
Taxes450/3€5k€5k=
Remuneration and social security454/9€13k€11k▼
Other amounts payable47/48€94k€67k▼
Income statement
Code20242025
Remuneration, social security and pensions62€108k€102k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€118k€180k▲
Other operating charges640/8€5k€4k▼
Gross operating margin9900€281k€309k▲
Operating profit (loss)9901€51k€22k▼
Financial charges65/66B€32k€22k▼
Recurring financial charges65€32k€22k▼
Profit (loss) for the period before taxes9903€19k€220▼
Income taxes67/77€8k€0▼
Profit (loss) for the period9904€11k€220▼
Profit (loss) for the period to be appropriated9905€11k€220▼
Appropriation of the result
Profit (loss) to be appropriated9906€11k€220▼
Profit (loss) brought forward from the previous period14P€0-
Transfer to equity691/2-€220
To other reserves6921-€220
Profit to be distributed694/7€11k€0▼
Return on contributions (dividend)694€11k€0▼
Social balance
Average headcount (FTE)90872.93.3▲
The notes to these accounts (22 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €88k | €76k | €92k | €108k | €102k | ▼ 5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €69k | €69k | €84k | €118k | €180k | ▲ 53.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €2k | - | - | - | - |
| Other operating charges640/8 | €5k | €6k | €5k | €5k | €4k | ▼ 5.8% |
| Non-recurring operating charges66A | - | €8k | - | - | - | - |
| Gross operating margin9900 | €233k | €653k | €326k | €281k | €309k | ▲ 10.0% |
| Operating profit (loss)9901 | €72k | €493k | €146k | €51k | €22k | ▼ 56.5% |
| Financial income75/76B | €0 | - | - | - | - | - |
| Recurring financial income75 | €0 | - | - | - | - | - |
| Financial charges65/66B | €4k | €3k | €5k | €32k | €22k | ▼ 31.1% |
| Recurring financial charges65 | €4k | €3k | €5k | €32k | €22k | ▼ 31.1% |
| Profit (loss) for the period before taxes9903 | €68k | €490k | €142k | €19k | €220 | ▼ 98.9% |
| Income taxes67/77 | €5k | €129k | €30k | €8k | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €64k | €361k | €112k | €11k | €220 | ▼ 98.0% |
| Profit (loss) for the period to be appropriated9905 | €64k | €361k | €112k | €11k | €220 | ▼ 98.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.01M | €775k | €693k | €1.28M | €1.01M | ▼ 21.5% |
| Fixed assets21/28 | €215k | €260k | €248k | €734k | €603k | ▼ 17.8% |
| Intangible fixed assets21 | - | - | - | - | €2k | - |
| Tangible fixed assets22/27 | €215k | €259k | €248k | €734k | €601k | ▼ 18.1% |
| Furniture and vehicles24 | €215k | €259k | €248k | €734k | €601k | ▼ 18.1% |
| Financial fixed assets28 | €279 | €279 | €279 | €279 | €279 | = |
| Current assets29/58 | €794k | €516k | €444k | €550k | €405k | ▼ 26.3% |
| Stocks and contracts in progress3 | €58 | - | - | - | - | - |
| Stocks30/36 | €58 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €743k | €111k | €157k | €430k | €336k | ▼ 21.7% |
| Trade receivables40 | €726k | €79k | €124k | €354k | €313k | ▼ 11.8% |
| Other amounts receivable41 | €16k | €32k | €33k | €75k | €24k | ▼ 68.4% |
| Cash at bank and in hand54/58 | €43k | €394k | €264k | €105k | €49k | ▼ 53.2% |
| Deferred charges and accrued income490/1 | €9k | €11k | €23k | €15k | €20k | ▲ 27.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.01M | €775k | €693k | €1.28M | €1.01M | ▼ 21.5% |
| Equity10/15 | €103k | €320k | €315k | €315k | €315k | ▲ 0.1% |
| Contributions10/11 | €36k | €36k | €48k | €48k | €48k | = |
| Capital10 | €36k | €36k | €48k | - | - | - |
| Issued capital100 | €48k | €48k | €48k | - | - | - |
| Uncalled capital101 | €12k | €12k | - | - | - | - |
| Reserves13 | €67k | €284k | €266k | €266k | €266k | ▲ 0.1% |
| Non-distributable reserves130/1 | €5k | €5k | €5k | - | - | - |
| Legal reserve130 | €5k | €5k | €5k | - | - | - |
| Distributable reserves133 | €62k | €280k | €261k | €266k | €266k | ▲ 0.1% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Provisions and deferred taxes16 | €4k | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | €4k | - | - | - | - | - |
| Pensions and similar obligations160 | €4k | - | - | - | - | - |
| Amounts payable17/49 | €903k | €455k | €378k | €970k | €694k | ▼ 28.4% |
| Amounts payable after more than one year17 | €172k | €193k | €125k | €285k | €446k | ▲ 56.1% |
| Financial debts170/4 | €172k | €193k | €125k | €285k | €446k | ▲ 56.1% |
| Amounts payable within one year42/48 | €156k | €262k | €254k | €684k | €248k | ▼ 63.7% |
| Current portion of amounts payable after more than one year42 | €49k | €66k | €102k | €109k | €140k | ▲ 28.8% |
| Trade debts44 | €36k | €25k | €2k | €464k | €26k | ▼ 94.3% |
| Suppliers440/4 | €36k | €25k | €2k | €464k | €26k | ▼ 94.3% |
| Taxes, remuneration and social security45 | €31k | €58k | €57k | €18k | €16k | ▼ 12.1% |
| Taxes450/3 | €13k | €48k | €39k | €5k | €5k | = |
| Remuneration and social security454/9 | €18k | €10k | €18k | €13k | €11k | ▼ 17.0% |
| Other amounts payable47/48 | €39k | €113k | €93k | €94k | €67k | ▼ 29.1% |
| Accrued charges and deferred income492/3 | €575k | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €64k | €361k | €112k | €11k | €220 | ▼ 98.0% |
| + Depreciation and write-downs630 | €69k | €69k | €84k | €118k | €180k | ▲ 53.2% |
| Operating cash flow (approximation) | €132k | €430k | €196k | €129k | €181k | ▲ 40.5% |
| Investment in fixed assets (approximation) | - | €-114k | €-73k | €-603k | €-50k | ▲ 91.7% |
| Change in cash | - | €351k | €-130k | €-159k | €-56k | ▲ 64.9% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Liquidity doublescurrent ratio 1.63
Current ratio from 0.80 to 1.63; short-term debt falls from €684k to €248k.
27-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 88 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €361k ▲468%
Operating result €493k, net result €361k, both a record.
31-12
Financial
Equity above €200kEq €320k ▲212%
4 profitable years in a row build equity to €320k.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity quadruplescurrent ratio 5.11
Current ratio from 1.21 to 5.11.
31-12
Financial
Equity above €100kEq €103k ▲35.8%
3 profitable years in a row build equity to €103k.
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
31-12
Financial
Back to profitnet €15k
Net result €15k after one loss-making year.
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
02-06
NBB filing
Annual accounts filed
fiscal year 2016 · full 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, Gembloux · 2 establishment units since 2010
Ground area
1,913 m²
Building footprint
759 m²
Volume, LiDAR
7,056 m³
3 parcels, Brussels, Wallonia · tallest building 18.8 m, ±5 floors. Linked by address, not a title deed.
2 establishment units
Two for Trees
since 20102.189.250.903
Two for trees
since 20152.249.826.908
3 parcels
Wallonia
2
(66.7%)
Brussels
1
(33.3%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92056B0159/00C000 | Wallonia | 1,009 m² | 1 · 195 m² | - |
| 25023H0623/00T000 | Wallonia | 466 m² | 1 · 251 m² | 10.8 m · 3 fl. |
| 21911C0139/00H016 | Brussels | 438 m² | 1 · 312 m² | 18.8 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 4,676 companies in sector 01610 we hold annual accounts for 1,369. 1,116 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
Founded28-06-2010
Fiscal year end31-12
Abbreviation FR
2 FOR TREES
Activities, NACEBEL 2025
01610Support activities for crop production
81300Landscape service activities
71113Urban planning and landscape architecture
Scores and ratios are computed by Checked and are not a credit decision.