TWOCREATIONS
ActiveSummary
TWOCREATIONS has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €38,477 and a net result of €25,806. Equity is shrinking by ~5.1% per year across the filed fiscal years. Its solvency ranks better than 22% of 20783 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability92▼-8
Solvency53▼-1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity short (current ratio 0.53 against 1.3 in 2023; short-term debt: 72% and cash: 19.8% of total assets), and 72% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
28%
Return on assets
18.8%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 20783 sector peers (2024).
NBB · sector comparisonPosition among 20783 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-06-2025, 38 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
37 d early
2022
45 d early
2021
58 d early
2020
2 d early
2019
30 d early
← 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 35 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€38,477▲ 26.9%
2023 · €30,318
Total assets
€137,469▲ 29.9%
2023 · €105,844
Net result
€25,806▼ 20.5%
2023 · €32,465
Working capital
-€46,153
2023 · €22,374
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€57,668▲ 16.4%€42,956▼ 25.5%€21,702▼ 49.5%€44,605▲ 106%€33,854▼ 24.1%
Net result€41,690▲ 6.6%€31,061▼ 25.5%€16,455▼ 47.0%€32,465▲ 97.3%€25,806▼ 20.5%
Equity€46,407▼ 41.1%€45,468▼ 2.0%€56,676▲ 24.7%€30,318▼ 46.5%€38,477▲ 26.9%
Total assets€137,810▲ 28.8%€89,567▼ 35.0%€86,885▼ 3.0%€105,844▲ 21.8%€137,469▲ 29.9%
Debt€91,403▲ 225%€44,099▼ 51.8%€30,209▼ 31.5%€75,526▲ 150%€98,992▲ 31.1%
Working capital€34,136▼ 52.4%€24,810▼ 27.3%€42,309▲ 70.5%€22,374▼ 47.1%-€46,153
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 24% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €137,469
Fixed assets
€84,630 ▲ 965%
Current assets
€52,839 ▼ 46.0%
Equity and liabilities €137,469
Equity
€38,477 ▲ 26.9%
Debt
€98,992 ▲ 31.1%
Debt's share of the balance-sheet total rises from 71.4% to 72.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€41,203▼
2023 · €54,451
Cash flow
€33,155▼
2023 · €42,311
Current ratio
0.53▼
2023 · 1.30
Debt to equity
2.57▲
2023 · 2.49
ROE
67.1%▼
2023 · 107.1%
ROA
18.8%▼
2023 · 30.7%
Interest coverage
31.31▼
2023 · 59.97
Debt ≤ 1 year
€98,992▲
2023 · €75,526
Income taxes
€6,825▼
2023 · €11,232
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,752 | €9,252 | €11,989 | €9,846 | €7,349 | ▼ 25.4% |
| Other operating charges640/8 | - | €256 | €209 | €707 | €216 | ▼ 69.4% |
| Gross operating margin9900 | €64,723 | €52,464 | €33,900 | €55,158 | €41,419 | ▼ 24.9% |
| Operating profit (loss)9901 | €57,668 | €42,956 | €21,702 | €44,605 | €33,854 | ▼ 24.1% |
| Financial income75/76B | - | €10 | €19 | - | €93 | - |
| Recurring financial income75 | €42 | €10 | €19 | - | €93 | - |
| Financial charges65/66B | - | €833 | €892 | €908 | €1,316 | ▲ 44.9% |
| Recurring financial charges65 | €860 | €833 | €892 | €908 | €1,316 | ▲ 44.9% |
| Profit (loss) for the period before taxes9903 | €56,850 | €42,133 | €20,829 | €43,697 | €32,631 | ▼ 25.3% |
| Income taxes67/77 | €15,160 | €11,072 | €4,374 | €11,232 | €6,825 | ▼ 39.2% |
| Profit (loss) for the period9904 | €41,690 | €31,061 | €16,455 | €32,465 | €25,806 | ▼ 20.5% |
| Profit (loss) for the period to be appropriated9905 | €41,690 | €31,061 | €16,455 | €32,465 | €25,806 | ▼ 20.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €137,810 | €89,567 | €86,885 | €105,844 | €137,469 | ▲ 29.9% |
| Fixed assets21/28 | €12,271 | €20,658 | €14,367 | €7,944 | €84,630 | ▲ 965% |
| Intangible fixed assets21 | €5,026 | €5,277 | €4,197 | €2,040 | €669 | ▼ 67.2% |
| Tangible fixed assets22/27 | €7,152 | €15,288 | €10,077 | €5,811 | €83,868 | ▲ 1,343% |
| Land and buildings22 | - | - | - | - | €78,188 | - |
| Furniture and vehicles24 | - | €15,288 | €10,077 | €5,811 | €5,680 | ▼ 2.3% |
| Financial fixed assets28 | €93 | €93 | €93 | €93 | €93 | = |
| Current assets29/58 | €125,539 | €68,909 | €72,518 | €97,900 | €52,839 | ▼ 46.0% |
| Stocks and contracts in progress3 | - | €3,702 | €1,893 | - | - | - |
| Stocks30/36 | - | €3,702 | €1,893 | - | - | - |
| Amounts receivable within one year40/41 | €16,922 | €18,418 | €16,844 | €16,192 | €24,985 | ▲ 54.3% |
| Trade receivables40 | - | €13,128 | €13,398 | €16,192 | €22,914 | ▲ 41.5% |
| Other amounts receivable41 | - | €5,290 | €3,446 | - | €2,071 | - |
| Current investments50/53 | €2,302 | €2,302 | €2,302 | €2,302 | - | - |
| Cash at bank and in hand54/58 | €102,419 | €40,606 | €47,603 | €74,924 | €27,162 | ▼ 63.7% |
| Deferred charges and accrued income490/1 | - | €3,881 | €3,876 | €4,482 | €692 | ▼ 84.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €137,810 | €89,567 | €86,885 | €105,844 | €137,469 | ▲ 29.9% |
| Equity10/15 | €46,407 | €45,468 | €56,676 | €30,318 | €38,477 | ▲ 26.9% |
| Contributions10/11 | - | - | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €8,060 | €8,060 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €8,060 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €8,060 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €38,347 | €37,408 | €36,216 | €9,858 | €18,017 | ▲ 82.8% |
| Amounts payable17/49 | €91,403 | €44,099 | €30,209 | €75,526 | €98,992 | ▲ 31.1% |
| Amounts payable within one year42/48 | €91,403 | €44,099 | €30,209 | €75,526 | €98,992 | ▲ 31.1% |
| Current portion of amounts payable after more than one year42 | - | €2,035 | €2,033 | €2,052 | €2,053 | = |
| Trade debts44 | €3,871 | €6,783 | €2,894 | €2,479 | €4,578 | ▲ 84.7% |
| Suppliers440/4 | - | €6,783 | €2,894 | €2,479 | €4,578 | ▲ 84.7% |
| Taxes, remuneration and social security45 | - | €3,281 | €6,463 | €9,936 | - | - |
| Taxes450/3 | - | €3,281 | €6,463 | €9,936 | - | - |
| Other amounts payable47/48 | - | €32,000 | €18,819 | €61,059 | €92,361 | ▲ 51.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,690 | €31,061 | €16,455 | €32,465 | €25,806 | ▼ 20.5% |
| + Depreciation and write-downs630 | €6,752 | €9,252 | €11,989 | €9,846 | €7,349 | ▼ 25.4% |
| Operating cash flow (approximation) | €48,442 | €40,313 | €28,444 | €42,311 | €33,155 | ▼ 21.6% |
| Investment in fixed assets (approximation) | - | -€17,639 | -€5,698 | -€3,423 | -€84,035 | ▼ 2,355% |
| Change in cash | - | -€61,813 | €6,997 | €27,321 | -€47,762 | ▼ 275% |
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
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €16,455 ▼47%
Net result drops to €16,455, the lowest in the series; recovery starts the following year.
03-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €41,690 ▲6.6%
Operating result €57,668, net result €41,690, both a record.
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
26-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro 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, Vorst · 1 establishment unit since 2017
Ground area
426 m²
Building footprint
113 m²
Volume, LiDAR
1,665 m³
Parcel 21383B0020/00W058, Brussels · tallest building 17.4 m, ±5 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
TWOCREATIONS
since 20172.261.853.126
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21383B0020/00W058 | Brussels | 426 m² | 1 · 113 m² | 17.4 m · 5 fl. |
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.
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Of 30,007 companies in sector 62200 we hold annual accounts for 18,396. 14,931 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
Founded16-02-2017
Fiscal year end31-12
Abbreviation FR
2CS
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
Contact
E-mail
ernesto.navarro@gmail.comVorst
Phone
0484354774Vorst
E-invoicing
Reachable via Peppol
Peppol ID
0208:0671574451
Also
9925:BE0671574451
Registered
24-12-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.