ACTIVE

SQUARE 2

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Financial year 2025 · closed on 31/12/2025

Net result

154,5 k €

+69.8% YoY

Gross margin

361,5 k €

+34.8% YoY

Equity

1,1 M €

+10.3% YoY

Workforce

1,5 ETP

+200.0% YoY

What does SQUARE 2 do?

SQUARE 2 is a Private limited company incorporated in 2006. Its main activity is: Other specialised construction activities n.e.c.. Its registered office is in Waterloo. It employs on average 1,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0885.626.727

Incorporation

07/12/2006

Legal form

Private limited company

Registered office

Avenue des Petits Champs 34
1410 Waterloo · WallonieSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

1,5 ETP

Activities (NACE)

43990Other specialised construction activities n.e.c.· main 43999Other specialised construction activities n.e.c.71112Architectural activities 71112Architectural activities 43320Joinery installation 43331Floor and wall covering+4

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	361,5 k €	+34.8%	268,3 k €	-46.0%	496,6 k €	+62.5%	305,7 k €	+27.4%	239,9 k €	-4.2%	250,4 k €	+136%	106 k €	+3.3%	102,6 k €	+6.7%	96,2 k €	+16.0%	82,9 k €	+1.5%	81,7 k €	+2.3%	79,9 k €	+20.8%	66,1 k €	+45.2%	45,6 k €	+2.6%	44,4 k €	+122%	20 k €	-51.4%	41,2 k €	-49.6%	81,7 k €	+830%	8,8 k €
EBITDA	327,6 k €	+49.2%	219,6 k €	-53.8%	475,2 k €	+67.8%	283,3 k €	+28.3%	220,9 k €	-4.2%	230,5 k €	+165%	86,9 k €	+12.6%	77,2 k €	-1.7%	78,5 k €	+24.0%	63,4 k €	-0.2%	63,5 k €	+7.5%	59,1 k €	+22.1%	48,4 k €	+68.4%	28,7 k €	+1.4%	28,3 k €	+79.1%	15,8 k €	-0.8%	15,9 k €	-74.7%	63,1 k €	+700%	7,9 k €
Operating result	256,9 k €	+82.0%	141,2 k €	-67.6%	436,3 k €	+82.3%	239,4 k €	+26.1%	189,8 k €	-5.4%	200,6 k €	+240%	59 k €	+15.3%	51,2 k €	-2.9%	52,7 k €	+62.7%	32,4 k €	+23.7%	26,2 k €	+52.9%	17,1 k €	+32.7%	12,9 k €	+51.3%	8,5 k €	-31.8%	12,5 k €	+2654%	-489,3 €	-102%	24,2 k €	+1.3%	23,9 k €	+283%	6,2 k €
Net result	154,5 k €	+69.8%	91 k €	-71.5%	319,1 k €	+87.3%	170,4 k €	+30.4%	130,7 k €	-15.6%	154,9 k €	+236%	46,1 k €	+19.7%	38,5 k €	-4.3%	40,2 k €	+76.5%	22,8 k €	+51.2%	15,1 k €	+68.7%	8,9 k €	+19.3%	7,5 k €	+19.1%	6,3 k €	+64.2%	3,8 k €	+166%	-5,8 k €	-154%	10,7 k €	-30.2%	15,4 k €	+414%	3 k €
Balance sheet
Equity	1,1 M €	+10.3%	1 M €	+9.9%	918,8 k €	+53.2%	599,7 k €	+39.7%	429,3 k €	+43.8%	298,6 k €	+108%	143,7 k €	+16.5%	123,4 k €	+45.3%	84,9 k €	+89.8%	44,7 k €	+104%	22 k €	-20.0%	27,5 k €	-3.8%	28,5 k €	-45.2%	52,1 k €	+13.7%	45,8 k €	+9.1%	42 k €	-12.1%	47,7 k €	+82.7%	26,1 k €	+143%	10,7 k €
Total assets	3,2 M €	+5.2%	3,1 M €	+164%	1,2 M €	+13.2%	1 M €	+12.0%	915,9 k €	+30.2%	703,7 k €	+43.3%	491,1 k €	-7.7%	532,2 k €	-11.4%	600,8 k €	+27.7%	470,4 k €	+15.4%	407,5 k €	+52.0%	268,1 k €	-33.1%	401,1 k €	+102%	198,1 k €	+28.1%	154,7 k €	+2.9%	150,3 k €	+3.1%	145,8 k €	+20.8%	120,7 k €	+53.4%	78,7 k €
Cash	162,3 k €	-0.8%	163,6 k €	+8.8%	150,4 k €	+44.9%	103,8 k €	+0.3%	103,5 k €	+89.8%	54,5 k €	-50.7%	110,5 k €	+71.7%	64,4 k €	+205%	21,1 k €	+49382%	42,6 €	-100.0%	123,1 k €	+637%	16,7 k €	+442%	3,1 k €	-88.5%	26,9 k €	-55.2%	60 k €		–		84,1 €	+304%	20,8 €	-99.9%	16,9 k €
Debts	2,1 M €	+8.2%	1,9 M €	+704%	242 k €	-43.2%	425,9 k €	-3.3%	440,5 k €	+8.9%	404,4 k €	+16.7%	346,4 k €	-15.1%	408,2 k €	-17.4%	494,1 k €	+16.4%	424,7 k €	+10.3%	385,1 k €	+60.4%	240,1 k €	-35.4%	371,5 k €	+163%	141,4 k €	+29.9%	108,9 k €	+0.5%	108,3 k €	+10.4%	98,1 k €	+3.7%	94,6 k €	+39.2%	68 k €
Other
Workforce	1,5 ETP	+200%	0,5 ETP		–		0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP	0.0%	0,5 ETP		–		0,7 ETP	+16.7%	0,6 ETP		–

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 5 ended

Active mandates

DOMINIQUE HAQUENNE

Director

Active

JULIEN HAQUENNE

Director

Active

Ended mandates

Dominique Haquenne

Manager · since 07 décembre 2006

Ended

DOMINIQUE HAQUENNE

Mandate

Ended

DOMINIQUE HAQUENNE

Managing director

Ended

DOMINIQUE HAQUENNE

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
CUBE 2● Active	0503.982.603

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	14/08/2026	30/06/2025	26/07/2024	22/05/2023	25/08/2022	30/07/2021
General meeting	30/06/2026	26/06/2025	11/06/2024	16/05/2023	26/07/2022	25/06/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	14/08/2026	French	PDF
Abridged model	31/12/2024	26/06/2025	30/06/2025	French	PDF
Abridged model	31/12/2023	11/06/2024	26/07/2024	French	PDF
Abridged model	31/12/2022	16/05/2023	22/05/2023	French	PDF
Abridged model	31/12/2021	26/07/2022	25/08/2022	French	PDF
Abridged model	31/12/2020	25/06/2021	30/07/2021	French	PDF
Abridged model	31/12/2019	30/06/2020	31/07/2020	French	PDF
Abridged model	31/12/2018	28/06/2019	23/07/2019	French	PDF
Abridged model	31/12/2017	29/06/2018	31/07/2018	French	PDF
Abridged model	31/12/2016	30/06/2017	28/07/2017	French	PDF
Abridged model	31/12/2015	30/06/2016	28/07/2016	French	PDF
Abridged model	31/12/2014	30/06/2015	13/08/2015	French	PDF
Abridged model	31/12/2013	27/06/2014	11/07/2014	French	PDF
Abridged model	31/12/2012	23/07/2013	22/08/2013	French	PDF
Abridged model	31/12/2011	31/07/2012	31/08/2012	French	PDF
Abridged model	31/12/2010	16/05/2011	17/12/2011	French	PDF
Abridged model	31/12/2009	18/05/2010	26/08/2010	French	PDF
Abridged model	31/12/2008	19/05/2009	26/08/2009	French	PDF
Abridged model	31/12/2007	07/10/2008	24/10/2008	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 2 active · 5 ended

Active mandates

DOMINIQUE HAQUENNE

Director

Active

JULIEN HAQUENNE

Director

Active

Ended mandates

Dominique Haquenne

Manager · since 07 décembre 2006

Ended

DOMINIQUE HAQUENNE

Mandate

Ended

DOMINIQUE HAQUENNE

Managing director

Ended

DOMINIQUE HAQUENNE

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates14/08/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates10/05/2011
DEMISSIONS, NOMINATIONS
PDF
Registered office21/01/2011
SIEGE SOCIAL
PDF
Other16/03/2010
OBJET - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office01/07/2009
SIEGE SOCIAL
PDF
Other21/12/2006
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 2025154,5 k €↑
2024
Annual accounts 202491 k €↓
2023
Annual accounts 2023319,1 k €↑
2022
Annual accounts 2022170,4 k €↑
2021
Annual accounts 2021130,7 k €↓
2020
Annual accounts 2020154,9 k €↑
2019
Annual accounts 201946,1 k €↑
2018
Annual accounts 201838,5 k €↓
2017
Annual accounts 201740,2 k €↑
2016
Annual accounts 201622,8 k €↑
2015
Annual accounts 201515,1 k €↑
2014
Annual accounts 20148,9 k €↑
2013
Annual accounts 20137,5 k €↑
2012
Annual accounts 20126,3 k €↑
2011
Annual accounts 20113,8 k €↑
2010
Annual accounts 2010-5,8 k €↓
2009
Annual accounts 200910,7 k €↓
2008
Annual accounts 200815,4 k €↑
2007
Annual accounts 20073 k €
07/12/2006
IncorporationPrivate 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

SQUARE 2

Overview

What does SQUARE 2 do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

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