Equity
€33,530 from €163,447 in 2017
Equity fell by 79% in 8 years.
2LEARN
Lifetime
16 annual accounts with figures on one time axispeak €398,253 (2017)
€295,784▲ 47.7%
lowest -€116,502 (2022)
€20,619▲ 254%
peak €163,447 (2017)
€33,530▲ 160%
€600,571▼ 16.7%
peak 8.4 FTE (2022)
4.7 FTEunchanged
Board9 names since 2018
3 directorsChristophe Goffard and 2 others
Owners3 names in the annual accounts
31.35%Frédéric WYNANDS and 1 other
Documentsfilings and deeds
04-06-202657 days before the deadline
2025financial year
Gross margin from €200,244 to €295,784Result from €5,817 to €20,619Registered office moved from Fernelmont to Hingeon 31-03Equity from €12,910 to €33,530Debts from €721,340 to €600,571Cash from €75,723 to €36,125
Key points
from the 2025 annual accountsTurnover
≈ €440,000 estimated
The accounts state no turnover.
Debts
€600,571 95% of the balance sheet
Financial debts 39%Suppliers 25%Taxes and wages 18%Other 17%
Of this, €359,003 falls due within a year.
Staff
4.7 FTE from 8.4 in 2022
Between 2022 and 2025, 44% of the full-time equivalents disappeared.
Filings
16 annual accounts 17 filings since 2010
Four of the last ten came late. The 2021 accounts came latest: 88 days after the end of the period.
Position in the sector
5.3%
Lower solvency than 86% of companies in education. Sector median 53.2% · 586 companies.
Checked score
69
Healthy
Financially stronger than 38% of micro companies in education (NACE 85)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 3,825 companies (NACE 85, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.6%
01-2025: 1.6%● unchanged vs 12-2024
02-2025: 1.7%▲ +0.1 percentage points vs 01-2025
03-2025: 1.6%▼ -0.1 percentage points vs 02-2025
04-2025: 2.4%▲ +0.8 percentage points vs 03-2025
05-2025: 2.5%▲ +0.1 percentage points vs 04-2025highest value
06-2025: 2.3%▼ -0.2 percentage points vs 05-2025
07-2025: 0.6%▼ -1.7 percentage points vs 06-2025
08-2025: 0.6%● unchanged vs 07-2025
09-2025: 0.6%● unchanged vs 08-2025
10-2025: 0.6%● unchanged vs 09-2025
11-2025: 0.6%● unchanged vs 10-2025
12-2025: 0.6%● unchanged vs 11-2025
01-2026: 0.6%● unchanged vs 12-2025
02-2026: 0.6%● unchanged vs 01-2026
03-2026: 0.6%● unchanged vs 02-2026
04-2026: 0.6%● unchanged vs 03-2026lowest value
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.6%● unchanged vs 06-2026
08-2026: 0.6%● unchanged vs 07-2026
09-2026: 0.6%● unchanged vs 08-2026
10-2026: 0.6%● unchanged vs 09-2026
11-2026: 0.6%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
1 change of registered office in 24 months
Equity €33,530 (5.3% of total assets)
lowers risk
Sector: Education (NACE 85)
Legal form: public limited company
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 85, micro). It does better than 19% of them on solvency, 14% on liquidity, 25% on profitability and 94% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,375 companies had the same profile as 2LEARN has now. Each dot stands for 4 companies, two years later.
95.9%
were still trading
1.6%
stopped another way
2.2%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of 2LEARN itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,375 companies, not a prediction for 2LEARN. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €2,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.63 (1.13 in 2024), above the usual 1.5. Short-term debt is 56.6% and cash 5.7% of total assets. However, 94.7% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 586 sector peers (2025).
NBB · sector comparisonPosition among 586 sector peers
Solvency
better than 14%
← 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 €33,530
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 days early
2024
43 days early
2023
27 days early
2022
29 days late
2021
88 days late
2020
23 days early
2019
87 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 8 days after the deadline. In the sector (NACE 85), the median for financial year 2024 was 16 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 5 July (4 of the last 5 accounts filed within 55 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
FV
Frédéric Verwilghen
Director, since 29-06-2021
- Frédéric WYNANDS 31.35%score 85equity €33,933 (2025) · 2025 annual accounts of Frédéric WYNANDS
- NAMUR INVEST PREFACE 20.19%score 54equity -€3.1m (2025) · 2025 annual accounts of NAMUR INVEST PREFACE
Shares in 1 company, VETERINARIUS
Board & ownershipRecent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0811635523
Registered office moved from Fernelmont to Hingeon
New registered office: Grand-Route 63/6, 5380 Hingeon · Previous registered office: Grand-Route, Hing.63 boîte 5, 5380 Fernelmont · Resignations: Jean-Paul Van Michel (director) and Stéphane Liétard (director) · General meeting of 29-08-2023 · Gazette deed
Capital increase of €62,436 to €205,936
Capital from €143,500 to €205,936, 363 new shares · Contribution: NAMUR INVEST PREFACE · Permanent representative: Nicolas Delahaye · General meeting of 20-10-2022 · Gazette deed
3 directors appointed, 2 resignations, 2 reappointments
Resignations: Jean-Pierre Peeters and Wim Van Assche · Reappointments: Frédéric Verwilghen and Christophe Goffard · Appointments: Stéphane Liétard, PREFACE SA and Jean-Paul Van Michel · General meeting of 29-06-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| 2LEARN Fernelmont | €634,100 | €295,784 | 5.3% | 4.7 |
| EUROPEAN CENTRE FOR CLINICAL RESEARCH TRAINING Brussels | €562,978 | €423,603 | 65.1% | 5.8 |
| NOA TRAININGS Turnhout | €462,880 | €397,901 | 31.0% | 4.1 |
| HAPPY MONDAYS Leuven | €531,051 | €415,546 | 17.4% | 5.1 |
| Institut de Formation Continue, Sciences et Médecine Brussels | €648,914 | €482,991 | 72.2% | 5 |
| TRANSPORT ACADEMY Antwerp | €793,353 | €592,330 | 42.1% | 5.3 |
| POLE FORMATION EMPLOI POUR LE TRANSPORT ET LA LOGISTIQUE ET LE PORT DE BRUXELLES Forest | €926,551 | €493,958 | 45.9% | 5.8 |
These companies have the same main activity as 2LEARN: vocational training (NACE 85592). They are comparable in size and age: total assets between €463,000 and €927,000, founded between 2003 and 2013.
Official details
Source: KBO- Status
- Active since 09-05-2009Normal situation
- Activity
- Vocational trainingNACE 85592and 1 other
- Joint committees
- 100Auxiliary committee for blue-collar workers
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.178.049.2825380 Fernelmont, since 09-05-2009
- Financial year end
- 31 December
- Peppol
- Reachable since 12-12-2025
Annual accounts 2025
- €634,100▼ 13.6%
- Employeeson 31-12-2025
- 5▼ 44.4%
- Filing
- Filed on 04-06-2026, 57 days before the end of the filing period
Insights on 2LEARN
2LEARN has existed since 2009. The gross margin grew from €15,872 in 2010 to €295,784 in 2025 and staff from 1.6 to 4.7 full-time equivalents.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about 2LEARN
- What is the company number of 2LEARN?
- The company number of 2LEARN is 0811.635.523. The VAT number is the same number with BE in front: BE 0811.635.523.
- Where is 2LEARN based?
- The registered office is at Grand-Route, Hing. 63, 5380 Fernelmont.Company details
- What does 2LEARN do?
- According to the KBO register, the main activity is vocational training (NACE 85592).
- What is the legal form of 2LEARN?
- 2LEARN is a public limited company (NV).
- When was 2LEARN founded?
- 2LEARN was founded on 09-05-2009.
- Is 2LEARN still active?
- Yes, 2LEARN is an active enterprise in the KBO register.
- How many employees does 2LEARN have?
- 2LEARN had an average of 4.7 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does 2LEARN fall under?
- In its 2025 annual accounts, 2LEARN states joint committees 100 (Auxiliary committee for blue-collar workers) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of 2LEARN?
- The turnover in financial year 2025 is ≈ €440,000. This figure is estimated from the gross margin of €295,784 and 37 comparable companies (NACE 85). It probably lies between €320,000 and €710,000.
- Is 2LEARN profitable?
- In financial year 2025, 2LEARN made a profit of €20,619.
- Where can I find the annual accounts of 2LEARN?
- 2LEARN filed 17 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of 2LEARN due?
- 2LEARN must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark See what changed in the latest annual accounts.What changed
See how customers, suppliers and banks see your own company and what to improve first.