ACTIVE

TWO C

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Financial year 2025 · closed on 31/12/2025

Net result

2,5 M €

+291.7% YoY

Gross margin

3,9 M €

+238.0% YoY

Equity

4,5 M €

+81.2% YoY

Workforce

5,0 ETP

0.0% YoY

What does TWO C do?

TWO C is a Public limited company incorporated in 1989. Its registered office is in Ath. It employs on average 5,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0436.461.495

Incorporation

16/01/1989

Legal form

Public limited company

Registered office

Chaussée de Tournai(Irc) 195
7801 Ath · WallonieSee on map

Contributed capital

62 500,00 €

Latest accounts

31/12/2025

Average workforce

5,0 ETP

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	3,9 M €	+238%	1,1 M €	+73.5%	658,2 k €	+0.9%	652,6 k €	-14.8%	766,4 k €	+56.7%	489,1 k €	+33.3%	366,9 k €	-24.6%	486,8 k €	+7.5%	452,8 k €	+9.1%	414,9 k €	+5.7%	392,5 k €	+26.0%	311,4 k €	-0.8%	314 k €	-31.1%	455,8 k €	-3.0%	470,1 k €	+3.4%	454,8 k €	+19.3%	381,2 k €	-13.9%	442,9 k €	-14.6%	518,5 k €	+21.2%	427,7 k €
EBITDA	3,5 M €	+320%	844,6 k €	+103%	416,9 k €	+2.3%	407,7 k €	-17.1%	491,6 k €	+58.7%	309,8 k €	+126%	136,9 k €	-46.8%	257,4 k €	+18.8%	216,6 k €	+47.7%	146,6 k €	+20.8%	121,4 k €	+1039%	-12,9 k €	-5882%	-216 €	-100%	117,6 k €	-12.0%	133,5 k €	-5.7%	141,7 k €	+60.0%	88,5 k €	-41.3%	150,9 k €	-42.1%	260,8 k €	+27.1%	205,2 k €
Operating result	3,5 M €	+321%	828,9 k €	+113%	389 k €	+3.0%	377,8 k €	-16.7%	453,7 k €	+79.7%	252,5 k €	+267%	68,9 k €	-65.1%	197,5 k €	+37.7%	143,4 k €	+104%	70,3 k €	-6.8%	75,5 k €	+211%	-67,9 k €	-18.3%	-57,4 k €	-179%	72,7 k €	-7.7%	78,8 k €	-10.2%	87,7 k €	+85.9%	47,2 k €	-64.1%	131,3 k €	-32.0%	193,1 k €	+23.7%	156,2 k €
Net result	2,5 M €	+292%	631 k €	+103%	311,3 k €	+33.1%	233,9 k €	-31.2%	339,9 k €	+65.3%	205,6 k €	+163%	78,2 k €	-50.8%	159,1 k €	+44.6%	110 k €	+48.3%	74,2 k €	-13.8%	86 k €	+437%	-25,6 k €	-147%	-10,4 k €	-111%	93,7 k €	-5.2%	98,8 k €	-2.8%	101,7 k €	+37.3%	74 k €	-42.8%	129,3 k €	-26.4%	175,8 k €	+34.4%	130,8 k €
Balance sheet
Equity	4,5 M €	+81.2%	2,5 M €	+34.0%	1,9 M €	+20.2%	1,5 M €	+17.9%	1,3 M €	+35.1%	968,7 k €	+26.9%	763,1 k €	+11.4%	684,9 k €	-17.1%	825,9 k €	+15.4%	715,8 k €	+10.0%	650,7 k €	+15.2%	564,7 k €	+33.3%	423,5 k €	-44.8%	767,2 k €	+12.6%	681,7 k €	-12.9%	782,8 k €	-11.2%	881,2 k €	+9.2%	807,1 k €	+19.1%	677,9 k €	+12.6%	602,1 k €
Total assets	5,5 M €	+45.6%	3,8 M €	+26.0%	3 M €	+27.2%	2,3 M €	+18.8%	2 M €	+32.2%	1,5 M €	+31.7%	1,1 M €	+11.4%	1 M €	-21.9%	1,3 M €	+13.6%	1,1 M €	+6.4%	1,1 M €	+9.4%	984,3 k €	+22.6%	802,8 k €	-15.3%	948,4 k €	+1.0%	939,2 k €	-20.3%	1,2 M €	+19.9%	983,3 k €	+0.9%	974,2 k €	+4.3%	934,4 k €	+18.6%	787,9 k €
Cash	3,2 M €	+127%	1,4 M €	+585%	207,1 k €	-87.2%	1,6 M €	+27.2%	1,3 M €	+16.1%	1,1 M €	+81.9%	603,1 k €	+7.8%	559,6 k €	-34.3%	851,4 k €	+42.4%	598,1 k €	+8.6%	550,7 k €	-3.6%	571,4 k €	+65.8%	344,7 k €	-19.2%	426,8 k €	+1.5%	420,4 k €	-27.8%	582,2 k €	+17.0%	497,5 k €	-3.0%	513 k €	+18.4%	433,3 k €	+18.5%	365,5 k €
Debts	963,8 k €	-24.0%	1,3 M €	+12.7%	1,1 M €	+40.6%	800,7 k €	+20.7%	663,3 k €	+27.1%	521,8 k €	+41.3%	369,2 k €	+12.6%	328 k €	-30.5%	472,2 k €	+11.1%	425 k €	+0.5%	422,7 k €	+1.7%	415,6 k €	+11.9%	371,6 k €	+116%	171,7 k €	-30.6%	247,4 k €	-36.5%	389,4 k €	+306%	96 k €	-33.4%	144,2 k €	-36.3%	226,4 k €	+52.6%	148,4 k €
Other
Workforce	5,0 ETP	0.0%	5,0 ETP	+25.0%	4,0 ETP	-20.0%	5,0 ETP	0.0%	5,0 ETP	0.0%	5,0 ETP	-2.0%	5,1 ETP	+2.0%	5,0 ETP	+4.2%	4,8 ETP	-5.9%	5,1 ETP	+15.9%	4,4 ETP	-17.0%	5,3 ETP	-5.4%	5,6 ETP	-3.4%	5,8 ETP	+9.4%	5,3 ETP	+3.9%	5,1 ETP	+4.1%	4,9 ETP	-5.8%	5,2 ETP	+20.9%	4,3 ETP	+2.4%	4,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 20 ended

Active mandates

Charlotte DEBRAEKELEER

Director · since 18 mai 2025 · until 18 mai 2031

Active

Didier DEBRAEKELEER

Managing director · since 18 mai 2025 · until 18 mai 2031

Active

Guillaume DEBRAEKELEER

Director · since 18 mai 2025 · until 18 mai 2031

Active

Marion DEBRAEKELEER

Director · since 18 mai 2025 · until 18 mai 2031

Active

Ended mandates

Charlotte DEBRAEKELEER

Director · since 18 mai 2019 · until 18 mai 2025

Ended

Didier DEBRAEKELEER

Managing director · since 18 mai 2019 · until 18 mai 2025

Ended

Guillaime DEBRAEKELEER

Director · since 18 mai 2019 · until 18 mai 2025

Ended

Guillaume DEBRAEKELEER

Director · since 18 mai 2019 · until 18 mai 2025

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	22/05/2026	29/09/2025	30/09/2024	29/08/2023	22/08/2022	31/08/2021
General meeting	16/05/2026	17/05/2025	18/05/2024	20/05/2023	21/05/2022	15/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	16/05/2026	22/05/2026	French	PDF
Abridged model	31/12/2024	17/05/2025	29/09/2025	French	PDF
Abridged model	31/12/2023	18/05/2024	30/09/2024	French	PDF
Abridged model	31/12/2022	20/05/2023	29/08/2023	French	PDF
Abridged model	31/12/2021	21/05/2022	22/08/2022	French	PDF
Abridged model	31/12/2020	15/05/2021	31/08/2021	French	PDF
Abridged model	31/12/2019	16/05/2020	26/09/2020	French	PDF
Abridged model	31/12/2018	18/05/2019	13/08/2019	French	PDF
Abridged model	31/12/2017	19/05/2018	18/07/2018	French	PDF
Abridged model	31/12/2016	20/05/2017	31/07/2017	French	PDF
Abridged model	31/12/2015	21/05/2016	16/08/2016	French	PDF
Abridged model	31/12/2014	16/05/2015	23/06/2015	French	PDF
Abridged model	31/12/2013	17/05/2014	31/07/2014	French	PDF
Abridged model	31/12/2012	18/05/2013	08/08/2013	French	PDF
Abridged model	31/12/2011	19/05/2012	28/08/2012	French	PDF
Abridged model	31/12/2010	21/05/2011	25/06/2011	French	PDF
Abridged model	31/12/2009	22/05/2010	07/07/2010	French	PDF
Abridged model	31/12/2008	23/05/2009	31/07/2009	French	PDF
Abridged model	31/12/2007	24/05/2008	22/07/2008	French	PDF
Abridged model	31/12/2006	26/05/2007	31/05/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 20 ended

Active mandates

Charlotte DEBRAEKELEER

Director · since 18 mai 2025 · until 18 mai 2031

Active

Didier DEBRAEKELEER

Managing director · since 18 mai 2025 · until 18 mai 2031

Active

Guillaume DEBRAEKELEER

Director · since 18 mai 2025 · until 18 mai 2031

Active

Marion DEBRAEKELEER

Director · since 18 mai 2025 · until 18 mai 2031

Active

Ended mandates

Charlotte DEBRAEKELEER

Director · since 18 mai 2019 · until 18 mai 2025

Ended

Didier DEBRAEKELEER

Managing director · since 18 mai 2019 · until 18 mai 2025

Ended

Guillaime DEBRAEKELEER

Director · since 18 mai 2019 · until 18 mai 2025

Ended

Guillaume DEBRAEKELEER

Director · since 18 mai 2019 · until 18 mai 2025

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/03/2026
DEMISSIONS, NOMINATIONS
PDF
Registered office19/12/2024
SIEGE SOCIAL
PDF
Mandates30/09/2021
DEMISSIONS, NOMINATIONS
PDF
Capital / shares24/04/2018
CAPITAL, ACTIONS
PDF
Capital / shares26/03/2014
CAPITAL, ACTIONS
PDF
Mandates29/08/2013
DEMISSIONS, NOMINATIONS
PDF
Mandates06/07/2010
DEMISSIONS, NOMINATIONS
PDF
Mandates13/08/2008
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20252,5 M €↑
2024
Annual accounts 2024631 k €↑
2023
Annual accounts 2023311,3 k €↑
2022
Annual accounts 2022233,9 k €↓
2021
Annual accounts 2021339,9 k €↑
2020
Annual accounts 2020205,6 k €↑
2019
Annual accounts 201978,2 k €↓
2018
Annual accounts 2018159,1 k €↑
2017
Annual accounts 2017110 k €↑
2016
Annual accounts 201674,2 k €↓
2015
Annual accounts 201586 k €↑
2014
Annual accounts 2014-25,6 k €↓
2013
Annual accounts 2013-10,4 k €↓
2012
Annual accounts 201293,7 k €↓
2011
Annual accounts 201198,8 k €↓
2010
Annual accounts 2010101,7 k €↑
2009
Annual accounts 200974 k €↓
2008
Annual accounts 2008129,3 k €↓
2007
Annual accounts 2007175,8 k €↑
2006
Annual accounts 2006130,8 k €
16/01/1989
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

TWO C

Overview

What does TWO C do?

Trend over 20 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline