KNOWLEDGE EXPERTS CONSULTANCY
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 13-04-2026 PDF all 16 filings
Turnover
≈ €120,000
Estimated: probably between €98,000 and €170,000
Total assets
€371,950▲ 9.1%
2024 · €341,023
Net result
€24,690
2024 · -€27,905
Working capital
€187,879▼ 36.3%
2024 · €294,904
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€21,690
2025
20182025
Net result
€24,690
2025
middle half of the sector
20182025
Equity
€218,646
▼ 34.6%
2025
highest quarter of the sector
20182025
Total assets
€371,950
▲ 9.1%
2025
highest quarter of the sector
20182025
Debt
€153,305
▲ 22×
2025
20182025
Working capital
€187,879
▼ 36.3%
2025
highest quarter of the sector
20182025
Solvency
58.8%
▼ 39.2pp
2025
middle half of the sector
20182025
Current ratio
2.23
▼ 41.41
2025
middle half of the sector
20182025
Return on assets (ROA)
6.6%
▲ 14.8pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€3,247--€42,141▼ 1,198%€183,381€233,433▲ 27.3%€110,399▼ 52.7%-€29,952-€28,667▲ 4.3%€21,690
Net result-€949--€43,263▼ 4,458%€140,151above the sector's middle half€164,091above the sector's middle half▲ 17.1%€79,659above the sector's middle half▼ 51.5%-€29,949below the sector's middle half-€27,905below the sector's middle half▲ 6.8%€24,690within the sector's middle half
Equity€168,655-€125,392▼ 25.7%€265,542above the sector's middle half▲ 112%€429,633above the sector's middle half▲ 61.8%€509,292above the sector's middle half▲ 18.5%€362,011above the sector's middle half▼ 28.9%€334,106above the sector's middle half▼ 7.7%€218,646above the sector's middle half▼ 34.6%
Total assets€208,225-€171,266▼ 17.7%€411,131above the sector's middle half▲ 140%€484,269above the sector's middle half▲ 17.8%€558,288above the sector's middle half▲ 15.3%€373,124above the sector's middle half▼ 33.2%€341,023above the sector's middle half▼ 8.6%€371,950above the sector's middle half▲ 9.1%
Debt€39,570-€45,875▲ 15.9%€145,588▲ 217%€54,636▼ 62.5%€48,995▼ 10.3%€11,112▼ 77.3%€6,917▼ 37.8%€153,305▲ 22×
Working capital€182,176-€123,565▼ 32.2%€249,291above the sector's middle half▲ 102%€412,201above the sector's middle half▲ 65.3%€440,543above the sector's middle half▲ 6.9%€309,883above the sector's middle half▼ 29.7%€294,904above the sector's middle half▼ 4.8%€187,879above the sector's middle half▼ 36.3%
Solvency81.0%-73.2%▼ 7.8pp64.6%within the sector's middle half▼ 8.6pp88.7%above the sector's middle half▲ 24.1pp91.2%above the sector's middle half▲ 2.5pp97.0%above the sector's middle half▲ 5.8pp98.0%above the sector's middle half▲ 1.0pp58.8%within the sector's middle half▼ 39.2pp
Current ratio13.79-4.99▼ 8.792.71within the sector's middle half▼ 2.288.54above the sector's middle half▲ 5.839.99above the sector's middle half▲ 1.4528.89above the sector's middle half▲ 18.8943.64above the sector's middle half▲ 14.752.23within the sector's middle half▼ 41.41
Return on assets (ROA)-0.5%--25.3%▼ 24.8pp34.1%above the sector's middle half▲ 59.3pp33.9%above the sector's middle half▼ 0.2pp14.3%within the sector's middle half▼ 19.6pp-8.0%below the sector's middle half▼ 22.3pp-8.2%below the sector's middle half▼ 0.2pp6.6%within the sector's middle half▲ 14.8pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a profit of €21,690, after a loss of €28,667 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €371,950
Fixed assets
€30,767 ▼ 21.5%
Current assets
€341,183 ▲ 13.0%
Equity and liabilities €371,950
Equity
€218,646 ▼ 34.6%
Debt
€153,305 ▲ 22×
Debt's share of the balance-sheet total rises from 2.0% to 41.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€35,658▲
2024 · -€13,048
Cash flow
€38,658▲
2024 · -€12,287
Debt to equity
0.70▲
2024 · 0.02
ROE
11.3%▲
2024 · -8.4%
Interest coverage
over 100▲
2024 · -125.09
Debt ≤ 1 year
€153,305▲
2024 · €6,917
Income taxes
€264▲
2024 · €256
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,923 | €64,007 | €2,272 | €2,692 | €5,533 |
| Intangible fixed assets | €0 | - | €0 | - | - |
| Depreciation and write-downs of the year | €6,742 | €12,690 | €17,588 | €15,618 | €13,968 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,832 | €5,032 | €5,536 | €6,742 | €12,690 | €17,588 | €15,618 | €13,968 | ▼ 10.6% |
| Other operating charges640/8 | - | - | - | €348 | €906 | €371 | €1,004 | €453 | ▼ 54.9% |
| Non-recurring operating charges66A | - | - | - | - | - | €1,306 | €0 | - | - |
| Gross operating margin9900 | €9,840 | -€9,877 | €189,848 | €240,522 | €123,995 | -€10,687 | -€12,044 | €36,110 | - |
| Operating profit (loss)9901 | -€3,247 | -€42,141 | €183,381 | €233,433 | €110,399 | -€29,952 | -€28,667 | €21,690 | - |
| Financial income75/76B | - | - | - | €510 | €151 | €542 | €1,122 | €3,510 | ▲ 213% |
| Recurring financial income75 | €5,094 | €14 | €2,403 | €510 | €151 | €542 | €1,122 | €3,510 | ▲ 213% |
| Financial charges65/66B | - | - | - | €684 | €342 | €293 | €104 | €245 | ▲ 135% |
| Recurring financial charges65 | €2,781 | €2,646 | €1,748 | €684 | €342 | €293 | €104 | €245 | ▲ 135% |
| Profit (loss) for the period before taxes9903 | -€934 | -€44,773 | €184,035 | €233,258 | €110,208 | -€29,703 | -€27,649 | €24,954 | - |
| Income taxes67/77 | €15 | -€1,510 | €43,885 | €69,168 | €30,549 | €246 | €256 | €264 | ▲ 3.1% |
| Profit (loss) for the period9904 | -€949 | -€43,263 | €140,151 | €164,091 | €79,659 | -€29,949 | -€27,905 | €24,690 | - |
| Profit (loss) for the period to be appropriated9905 | -€949 | -€43,263 | €140,151 | €164,091 | €79,659 | -€29,949 | -€27,905 | €24,690 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €208,225 | €171,266 | €411,131 | €484,269 | €558,288 | €373,124 | €341,023 | €371,950 | ▲ 9.1% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €11,801 | €16,746 | €16,251 | €17,432 | €68,750 | €52,128 | €39,202 | €30,767 | ▼ 21.5% |
| Intangible fixed assets21 | €0 | €8,800 | €6,600 | €4,400 | €2,200 | €0 | - | - | - |
| Tangible fixed assets22/27 | €10,779 | €7,946 | €9,651 | €13,032 | €66,550 | €52,128 | €39,202 | €30,767 | ▼ 21.5% |
| Furniture and vehicles24 | - | - | - | €13,032 | €52,485 | €39,510 | €25,343 | €15,343 | ▼ 39.5% |
| Other tangible fixed assets26 | - | - | - | - | €14,064 | €12,618 | €13,859 | €15,424 | ▲ 11.3% |
| Financial fixed assets28 | €1,022 | €0 | - | - | - | - | - | - | - |
| Current assets29/58 | €196,425 | €154,520 | €394,879 | €466,837 | €489,538 | €320,995 | €301,821 | €341,183 | ▲ 13.0% |
| Amounts receivable after more than one year29 | - | - | - | €0 | - | - | - | - | - |
| Other amounts receivable291 | - | - | - | €0 | - | - | - | - | - |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €2,454 | €6,924 | €281,071 | €24,299 | €36,656 | €27,311 | €5,234 | €41,106 | ▲ 685% |
| Trade receivables40 | - | - | - | €24,299 | €31,600 | €24,580 | €0 | €37,782 | - |
| Other amounts receivable41 | - | - | - | - | €5,056 | €2,731 | €5,234 | €3,324 | ▼ 36.5% |
| Current investments50/53 | €0 | - | - | - | - | €150,000 | €200,000 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €22,471 | €47,121 | €39,064 | €442,538 | €452,882 | €142,037 | €96,026 | €300,077 | ▲ 212% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €1,647 | €560 | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €208,225 | €171,266 | €411,131 | €484,269 | €558,288 | €373,124 | €341,023 | €371,950 | ▲ 9.1% |
| Equity10/15 | €168,655 | €125,392 | €265,542 | €429,633 | €509,292 | €362,011 | €334,106 | €218,646 | ▼ 34.6% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €142,011 | €306,101 | €385,761 | €385,761 | €385,761 | €245,610 | ▼ 36.3% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | - | - | - | €304,241 | €383,901 | €383,901 | €385,761 | €245,610 | ▼ 36.3% |
| Profit (loss) carried forward14 | €160,595 | €117,332 | €117,332 | €117,332 | €117,332 | -€29,949 | -€57,855 | -€33,164 | ▲ 42.7% |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €39,570 | €45,875 | €145,588 | €54,636 | €48,995 | €11,112 | €6,917 | €153,305 | ▲ 22× |
| Amounts payable after more than one year17 | €25,084 | €14,920 | €0 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €14,249 | €30,955 | €145,588 | €54,636 | €48,995 | €11,112 | €6,917 | €153,305 | ▲ 22× |
| Trade debts44 | €1,030 | €20,018 | €14,709 | €476 | €17,410 | €7,345 | €129 | €960 | ▲ 647% |
| Suppliers440/4 | - | - | - | €476 | €17,410 | €7,345 | €129 | €960 | ▲ 647% |
| Taxes, remuneration and social security45 | - | - | - | €39,082 | €6,885 | €3,058 | €2,858 | €12,194 | ▲ 327% |
| Taxes450/3 | - | - | - | €39,082 | €6,885 | €3,058 | €2,858 | €12,194 | ▲ 327% |
| Other amounts payable47/48 | - | - | - | €15,078 | €24,700 | €710 | €3,930 | €140,151 | ▲ 36× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€949 | -€43,263 | €140,151 | €164,091 | €79,659 | -€29,949 | -€27,905 | €24,690 | - |
| + Depreciation and write-downs630 | €2,832 | €5,032 | €5,536 | €6,742 | €12,690 | €17,588 | €15,618 | €13,968 | ▼ 10.6% |
| Operating cash flow (approximation) | €1,883 | -€38,231 | €145,687 | €170,833 | €92,349 | -€12,362 | -€12,287 | €38,658 | - |
| Investment in fixed assets (approximation) | - | -€9,978 | -€5,041 | -€7,923 | -€64,007 | -€966 | -€2,692 | -€5,533 | ▼ 106% |
| Change in cash | - | €24,650 | -€8,057 | €403,475 | €10,343 | -€310,845 | -€46,011 | €204,051 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as KNOWLEDGE EXPERTS CONSULTANCY has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of KNOWLEDGE EXPERTS CONSULTANCY itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 34,693 companies, not a prediction for KNOWLEDGE EXPERTS CONSULTANCY. 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.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 13-04-2026 | 2026-00079498 | |
| 31-12-2024 | micro format | 25-06-2025 | 2025-00183367 | |
| 31-12-2023 | micro format | 02-07-2024 | 2024-00204883 | |
| 31-12-2022 | micro format | 13-07-2023 | 2023-00231902 | |
| 31-12-2021 | micro format | 17-06-2022 | 2022-20075636 | |
| 31-12-2020 | micro format | 28-07-2021 | 2021-44900567 | |
| 31-12-2019 | micro format | 24-08-2020 | 2020-44500321 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-59400144 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-61200390 | |
| 31-12-2016 | micro format | 30-08-2017 | 2017-52800266 |