ACTIVE

2 BY 2

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Financial year 2025 · closed on 31/12/2025

Net result

387,1 k €

+599.5% YoY

Revenue

41,4 M €

-4.0% YoY

Equity

2,3 M €

+20.6% YoY

Workforce

10,5 ETP

+5.0% YoY

What does 2 BY 2 do?

2 BY 2 is a Public limited company incorporated in 1994. Its registered office is in Antwerpen. It employs on average 10,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0453.139.854

Incorporation

28/07/1994

Legal form

Public limited company

Registered office

Elsenstraat 2B
2170 Antwerpen · FlandreSee on map

Contributed capital

124 000,00 €

Latest accounts

31/12/2025

Average workforce

10,5 ETP

Joint committees (4)

14904
152
200
218

Signals

ProfitableGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	41,4 M €	-4.0%	43,1 M €	+13.5%	38 M €	+6.2%	35,8 M €	-23.8%	46,9 M €	+13.5%	41,3 M €	-15.3%	48,8 M €	+33.7%	36,5 M €	+30.7%	27,9 M €		–		–		–		–		–		9,4 M €	-11.0%	10,6 M €	-11.7%	12 M €	-11.2%	13,5 M €	-2.6%	13,9 M €
EBITDA	437,6 k €	+50.1%	291,6 k €	-4.2%	304,3 k €	-12.8%	348,8 k €	+18.5%	294,4 k €	-3.3%	304,4 k €	+8.7%	280 k €	+27.3%	220 k €	+196%	-228,4 k €	-192%	248,1 k €	+0.1%	247,9 k €	+144%	101,7 k €	+168%	37,9 k €	-83.0%	223,4 k €	+69.5%	131,8 k €	-37.3%	210,1 k €	+485%	-54,5 k €	-158%	94,5 k €	+9.2%	86,6 k €
Operating result	453,1 k €	+60.5%	282,3 k €	+7.3%	263,3 k €	-24.4%	348,2 k €	+37.6%	253,1 k €	+10.6%	228,9 k €	+67.9%	136,3 k €	-30.6%	196,4 k €	+165%	-303,3 k €	-257%	193,6 k €	-10.8%	216,9 k €	+175%	79 k €	+356%	17,3 k €	-91.6%	206,8 k €	+590%	30 k €	-64.2%	83,8 k €	+146%	-183,6 k €	-375%	-38,6 k €	+25.2%	-51,7 k €
Net result	387,1 k €	+599%	55,3 k €	-68.2%	173,8 k €	+46.0%	119,1 k €	+2.8%	115,9 k €	-40.0%	193,1 k €	+141%	80 k €	-16.4%	95,7 k €	+137%	-257,3 k €	-272%	149,6 k €	+13.9%	131,4 k €	+79.8%	73,1 k €	+171%	27 k €	-81.4%	144,9 k €	+1248%	10,8 k €	-88.4%	92,6 k €	+140%	-229,7 k €	-686%	39,2 k €	+313%	-18,5 k €
Balance sheet
Equity	2,3 M €	+20.6%	1,9 M €	+3.0%	1,8 M €	+10.5%	1,7 M €	+7.8%	1,5 M €	+8.2%	1,4 M €	+15.7%	1,2 M €	+7.0%	1,1 M €	+9.1%	1,1 M €	+23.5%	850,6 k €	+21.3%	701 k €	-5.9%	744,6 k €	+10.9%	671,4 k €	+4.2%	644,5 k €	+29.0%	499,6 k €	+2.2%	488,8 k €	+23.4%	396,2 k €	-36.7%	625,9 k €	+1.5%	616,7 k €
Total assets	11,3 M €	+15.2%	9,8 M €	-20.0%	12,2 M €	+46.1%	8,4 M €	-2.3%	8,6 M €	-1.7%	8,7 M €	+6.9%	8,2 M €	+8.7%	7,5 M €	+42.7%	5,3 M €	-0.3%	5,3 M €	+11.6%	4,7 M €	+42.9%	3,3 M €	+34.6%	2,5 M €	+5.0%	2,3 M €	+33.7%	1,8 M €	-0.2%	1,8 M €	-10.7%	2 M €	-5.6%	2,1 M €	-3.8%	2,2 M €
Cash	114,4 k €	+46.8%	77,9 k €	-66.8%	234,9 k €	-64.4%	660,2 k €	+117%	304,2 k €	+85.1%	164,3 k €	-68.8%	527 k €	+12.4%	468,7 k €	+140%	195,1 k €	-78.1%	890,9 k €	-27.0%	1,2 M €	+85.8%	656,5 k €	+317%	157,5 k €	-38.7%	257 k €	+15.9%	221,8 k €	+25.5%	176,8 k €	-40.0%	294,8 k €	-4.2%	307,8 k €	-22.6%	397,5 k €
Debts	8,9 M €	+13.9%	7,8 M €	-24.2%	10,3 M €	+55.6%	6,6 M €	-4.8%	7 M €	-2.7%	7,2 M €	+4.6%	6,9 M €	+9.0%	6,3 M €	+52.1%	4,1 M €	-4.9%	4,4 M €	+11.0%	3,9 M €	+58.1%	2,5 M €	+41.2%	1,8 M €	+5.8%	1,7 M €	+43.4%	1,2 M €	-6.4%	1,2 M €	-19.5%	1,5 M €	+8.8%	1,4 M €	-5.0%	1,5 M €
Other
Workforce	10,5 ETP	+5.0%	10,0 ETP	-14.5%	11,7 ETP	+7.3%	10,9 ETP	+19.8%	9,1 ETP	+3.4%	8,8 ETP	-1.1%	8,9 ETP	-21.2%	11,3 ETP	-10.3%	12,6 ETP	+21.2%	10,4 ETP	+4.0%	10,0 ETP	+11.1%	9,0 ETP	0.0%	9,0 ETP	-1.1%	9,1 ETP	0.0%	9,1 ETP	-5.2%	9,6 ETP	-15.8%	11,4 ETP	+1.8%	11,2 ETP	+20.4%	9,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 24 ended

Active mandates

Arun Garg

Director · since 21 décembre 2023 · until 04 juin 2029

Active

VINOD KUMAR

Director · since 21 décembre 2023 · until 04 juin 2029

Active

Ended mandates

ARUN GARG

Managing director · since 21 décembre 2023 · until 04 juin 2029

Ended

ARUN GARG

Managing director · since 03 août 2022 · until 01 juin 2028

Ended

ARUN GARG.

Managing director · since 03 août 2022 · until 21 décembre 2023

Ended

Vinod KUMAR

Director · since 03 août 2022 · until 01 juin 2028

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	05/08/2026	01/08/2025	30/07/2024	14/07/2023	31/08/2022	27/07/2021
General meeting	01/06/2026	30/06/2025	28/06/2024	01/06/2023	03/08/2022	30/06/2021
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
Full model	31/12/2025	01/06/2026	05/08/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	01/08/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	30/07/2024	Dutch	PDF
Full model	31/12/2022	01/06/2023	14/07/2023	Dutch	PDF
Full model	31/12/2021	03/08/2022	31/08/2022	Dutch	PDF
Full model	31/12/2020	30/06/2021	27/07/2021	Dutch	PDF
Full model	31/12/2019	02/06/2020	09/07/2020	Dutch	PDF
Full model	31/12/2018	01/06/2019	27/06/2019	Dutch	PDF
Full model	31/12/2017	01/06/2018	29/06/2018	Dutch	PDF
Full model	31/12/2016	30/06/2017	26/07/2017	Dutch	PDF
Abridged model	31/12/2015	01/06/2016	05/07/2016	Dutch	PDF
Abridged model	31/12/2014	01/06/2015	02/06/2015	Dutch	PDF
Abridged model	31/12/2013	02/06/2014	08/07/2014	Dutch	PDF
Abridged model	31/12/2012	01/06/2013	07/06/2013	Dutch	PDF
Abridged model	31/12/2011	01/06/2012	08/06/2012	Dutch	PDF
Abridged model	31/12/2010	01/06/2011	28/06/2011	Dutch	PDF
Abridged model	31/12/2009	22/03/2010	29/03/2010	Dutch	PDF
Abridged model	31/12/2008	01/06/2009	01/08/2009	Dutch	PDF
Abridged model	31/12/2007	01/06/2008	30/06/2008	Dutch	PDF
Abridged model	31/12/2006	01/06/2007	02/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 2 active · 24 ended

Active mandates

Arun Garg

Director · since 21 décembre 2023 · until 04 juin 2029

Active

VINOD KUMAR

Director · since 21 décembre 2023 · until 04 juin 2029

Active

Ended mandates

ARUN GARG

Managing director · since 21 décembre 2023 · until 04 juin 2029

Ended

ARUN GARG

Managing director · since 03 août 2022 · until 01 juin 2028

Ended

ARUN GARG.

Managing director · since 03 août 2022 · until 21 décembre 2023

Ended

Vinod KUMAR

Director · since 03 août 2022 · until 01 juin 2028

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates05/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/06/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/06/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/03/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/10/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/04/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/11/2017
ONTSLAGEN - BENOEMINGEN
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 2025387,1 k €↑
2024
Annual accounts 202455,3 k €↓
2023
Annual accounts 2023173,8 k €↑
2022
Annual accounts 2022119,1 k €↑
2022
Name change2 BY 2
2021
Annual accounts 2021115,9 k €↓
2021
Name change2BY2
2020
Annual accounts 2020193,1 k €↑
2019
Annual accounts 201980 k €↓
2018
Annual accounts 201895,7 k €↑
2017
Annual accounts 2017-257,3 k €↓
2015
Annual accounts 2015149,6 k €↑
2014
Annual accounts 2014131,4 k €↑
2013
Annual accounts 201373,1 k €↑
2012
Annual accounts 201227 k €↓
2011
Annual accounts 2011144,9 k €↑
2010
Annual accounts 201010,8 k €↓
2009
Annual accounts 200992,6 k €↑
2008
Annual accounts 2008-229,7 k €↓
2007
Annual accounts 200739,2 k €↑
2006
Annual accounts 2006-18,5 k €
28/07/1994
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

2 BY 2

Overview

What does 2 BY 2 do?

Trend over 19 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