2LEARN
ActiveSummary
2LEARN has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €34k and a net result of €21k. Equity is shrinking by ~14.8% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 13% of 435 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
56
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability39▲+13
Solvency30▲+3
Growth58=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity ample (current ratio 1.63 against 1.13 in 2024; short-term debt: 56.6% and cash: 5.7% of total assets), but 94.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Eight 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 85
Relative position
BE, all sectors
reference
Sector 85
lower
← fewer bankruptcies
more bankruptcies →
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
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
5.3%
Return on assets
3.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 435 sector peers (2025).
NBB · sector comparisonPosition among 435 sector peers
Solvency
better than 13%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €34k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-06-2026, 57 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
57 d early
2024
43 d early
2023
27 d early
2022
29 d late
2021
88 d late
2020
23 d early
2019
87 d late
← 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€21k▲ 254%
2024 · €6k
2018: €-76k
2019: €63
2020: €10k
2021: €20k
2022: €-117k
2023: €-56k
2024: €6k
2018 → 2025
Working capital
€225k▲ 196%
2024 · €76k
2018: €73k
2019: €150k
2020: €193k
2021: €139k
2022: €-22k
2023: €-100k
2024: €76k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€117k-€63k▼ 46.0%€7k▼ 88.8%€13k▲ 82.0%€34k▲ 160%
Operating result€51k-€-97k€-38k▲ 60.4%€-45k▼ 17.5%€-1k▲ 97.7%
Net result€20k-€-117k€-56k▲ 51.6%€6k€21k▲ 254%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1k in 2025 against €45k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €634k
Fixed assets
€50k ▼ 36.5%
Current assets
€584k ▼ 10.9%
Equity and liabilities €634k
Equity
€34k ▲ 160%
Debt
€601k ▼ 16.7%
Debt's share of the balance-sheet total falls from 98.2% to 94.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€33k▲
2024 · €15k
Cash flow
€55k▼
2024 · €66k
Current ratio
1.63▲
2024 · 1.13
Debt to equity
17.91▼
2024 · 55.87
ROE
61.5%▲
2024 · 45.1%
ROA
3.3%▲
2024 · 0.8%
Interest coverage
1.92▲
2024 · 0.78
Debt ≤ 1 year
€359k▼
2024 · €579k
Debt > 1 year
€237k▲
2024 · €141k
Income taxes
€1▼
2024 · €353
Staff costs
€183k▲
2024 · €179k
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 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€734k€634k▼
Fixed assets21/28€79k€50k▼
Intangible fixed assets21€65k€36k▼
Tangible fixed assets22/27€7k€7k▲
Plant, machinery and equipment23€1k€855▼
Furniture and vehicles24€6k€1k▼
Assets under construction and advance payments27-€5k
Financial fixed assets28€7k€7k=
Current assets29/58€655k€584k▼
Amounts receivable within one year40/41€574k€520k▼
Trade receivables40€571k€520k▼
Other amounts receivable41€3k-
Cash at bank and in hand54/58€76k€36k▼
Deferred charges and accrued income490/1€5k€28k▲
Equity and liabilities
Total equity and liabilities10/49€734k€634k▼
Equity10/15€13k€34k▲
Contributions10/11€206k€206k=
Capital10€206k€206k=
Issued capital100€206k€206k=
Reserves13€1k€1k=
Non-distributable reserves130/1€1k€1k=
Legal reserve130€1k€1k=
Profit (loss) carried forward14€-194k€-174k▲
Amounts payable17/49€721k€601k▼
Amounts payable after more than one year17€141k€237k▲
Financial debts170/4€141k€237k▲
Amounts payable within one year42/48€579k€359k▼
Current portion of amounts payable after more than one year42€126k€84k▼
Trade debts44€328k€153k▼
Suppliers440/4€328k€153k▼
Taxes, remuneration and social security45€114k€109k▼
Taxes450/3€86k€75k▼
Remuneration and social security454/9€28k€34k▲
Other amounts payable47/48€11k€13k▲
Accrued charges and deferred income492/3€2k€5k▲
Income statement
Code20242025
Remuneration, social security and pensions62€179k€183k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€60k€34k▼
Other operating charges640/8€6k€1k▼
Non-recurring operating charges66A-€78k
Gross operating margin9900€200k€296k▲
Operating profit (loss)9901€-45k€-1k▲
Financial income75/76B€70k€50k▼
Recurring financial income75€1k€101▼
Non-recurring financial income76B€69k€50k▼
Financial charges65/66B€19k€29k▲
Recurring financial charges65€19k€17k▼
Non-recurring financial charges66B-€11k
Profit (loss) for the period before taxes9903€6k€21k▲
Income taxes67/77€353€1▼
Profit (loss) for the period9904€6k€21k▲
Profit (loss) for the period to be appropriated9905€6k€21k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-194k€-174k▲
Profit (loss) brought forward from the previous period14P€-200k€-194k▲
Social balance
Average headcount (FTE)90874.74.7=
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
04-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €21k ▲254%
Net result €21k, the highest in the series.
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €6k
Net result €6k after 2 loss-making years.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 29 days late
2022
31-12
Financial
Weakest financial yearnet €-117k
Net result drops to €-117k, the lowest in the series; recovery starts the following year.
27-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 88 days late
2021
31-12
Financial
Equity above €100kEq €117k ▲21%
3 profitable years in a row build equity to €117k.
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 87 days late
2019
31-12
Financial
Back to profitnet €63
Net result €63 after one loss-making year.
Show earlier events
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
30-06
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 10 acts read
About the unread acts
We know of 10 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
10 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, Fernelmont · 1 establishment unit since 2009
Ground area
1,181 m²
Parcel 92064A0213/00P000, Wallonia. Linked by address, not a title deed.
1 establishment unit
2LEARN
since 20092.178.049.282
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92064A0213/00P000 | Wallonia | 1,181 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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ILFERO
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Perspectives
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Of 3,017 companies in sector 85592 we hold annual accounts for 987. 649 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded09-05-2009
Fiscal year end31-12
Activities, NACEBEL 2025
85592Vocational training
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.