KNOWLEDGE FUSION
ActiveSummary
KNOWLEDGE FUSION has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €239,153 and a net result of €509. Equity is growing by ~38.1% per year across the filed fiscal years. Its solvency ranks better than 28% of 693 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▼-14
Solvency51▼-1
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18,000 at 30 days acceptable
Liquidity ample (current ratio 4.65 against 3.26 in 2024; short-term debt: 19.6% and cash: 47.7% of total assets), but 74.2% of the assets are financed with debt.
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Signals
Five 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
Education (NACE 85)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
25.8%
Return on assets
0.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
31 d late
2023
29 d late
2022
29 d late
2021
23 d late
2020
6 d late
2019
56 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 29 days after the deadline; the sector median for financial year 2024 is 16 days before the deadline, and 32% of the sector filed late.
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. Usually files around 30 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€509▼ 99.5%
2024 · €101,568
Working capital
€659,818▲ 25.7%
2024 · €525,004
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 85, Education, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€45,108▲ 98.0%€190,640▲ 323%-€101,985€113,278€6,779▼ 94.0%
Net result€32,453within the sector's middle half▲ 131%€148,369above the sector's middle half▲ 357%-€102,199below the sector's middle half€101,568above the sector's middle half€509within the sector's middle half▼ 99.5%
Equity€90,907within the sector's middle half▲ 55.5%€239,276above the sector's middle half▲ 163%€137,077above the sector's middle half▼ 42.7%€238,644within the sector's middle half▲ 74.1%€239,153within the sector's middle half▲ 0.2%
Total assets€633,578within the sector's middle half▲ 96.0%€1.0mabove the sector's middle half▲ 63.4%€939,899above the sector's middle half▼ 9.2%€869,786within the sector's middle half▼ 7.5%€925,235within the sector's middle half▲ 6.4%
Debt€542,671▲ 105%€796,139▲ 46.7%€802,822▲ 0.8%€631,142▼ 21.4%€686,082▲ 8.7%
Working capital€241,625within the sector's middle half▲ 144%€517,599above the sector's middle half▲ 114%€401,779above the sector's middle half▼ 22.4%€525,004within the sector's middle half▲ 30.7%€659,818within the sector's middle half▲ 25.7%
Solvency14.3%below the sector's middle half▼ 3.7pp23.1%within the sector's middle half▲ 8.8pp14.6%within the sector's middle half▼ 8.5pp27.4%within the sector's middle half▲ 12.9pp25.8%within the sector's middle half▼ 1.6pp
Current ratio1.77within the sector's middle half▼ 0.042.57within the sector's middle half▲ 0.792.05within the sector's middle half▼ 0.513.26within the sector's middle half▲ 1.214.65within the sector's middle half▲ 1.38
Return on assets (ROA)5.1%within the sector's middle half▲ 0.8pp14.3%within the sector's middle half▲ 9.2pp-10.9%below the sector's middle half▼ 25.2pp11.7%above the sector's middle half▲ 22.6pp0.1%within the sector's middle half▼ 11.6pp
Staff (FTE)12.1within the sector's middle half▲ 13.1%16▲ 32.2%16.2▲ 1.3%12.3within the sector's middle half▼ 24.1%10.4within the sector's middle half▼ 15.4%
above
within
below
the middle half (P25 to P75) of NACE 85, Education, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result -99% on 2024. The accounts now follow the abbreviated schema, last year the full schema.
- 2022 Net result +357% on 2021. The accounts now follow the micro schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 94% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €925,235
Fixed assets
€84,519 ▼ 25.1%
Current assets
€840,716 ▲ 11.1%
Equity and liabilities €925,235
Equity
€239,153 ▲ 0.2%
Debt
€686,082 ▲ 8.7%
Debt's share of the balance-sheet total rises from 72.6% to 74.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€31,682▼
2024 · €154,072
Cash flow
€25,412▼
2024 · €142,361
Debt to equity
2.87▲
2024 · 2.64
ROE
0.2%▼
2024 · 42.6%
Interest coverage
67.04▼
2024 · 373.59
Debt ≤ 1 year
€180,898▼
2024 · €231,971
Income taxes
€7,477▼
2024 · €11,646
Staff costs
€439,390▼
2024 · €610,413
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,105 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 98% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.0%
went bankrupt
0.9%
stopped otherwise
98%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 4,105 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €440,120 | €535,070 | €734,314 | €610,413 | €439,390 | ▼ 28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,291 | €30,380 | €44,139 | €40,794 | €24,902 | ▼ 39.0% |
| Other operating charges640/8 | €477 | €1,292 | €4,896 | €6,209 | €6,246 | ▲ 0.6% |
| Gross operating margin9900 | €522,996 | €757,381 | €681,363 | €770,693 | €477,318 | ▼ 38.1% |
| Operating profit (loss)9901 | €45,108 | €190,640 | -€101,985 | €113,278 | €6,779 | ▼ 94.0% |
| Financial income75/76B | €860 | €819 | €579 | €348 | €1,679 | ▲ 383% |
| Recurring financial income75 | €860 | €819 | €579 | €348 | €1,679 | ▲ 383% |
| Financial charges65/66B | €576 | €635 | €452 | €412 | €473 | ▲ 14.6% |
| Recurring financial charges65 | €576 | €635 | €452 | €412 | €473 | ▲ 14.6% |
| Profit (loss) for the period before taxes9903 | €45,392 | €190,823 | -€101,859 | €113,214 | €7,986 | ▼ 92.9% |
| Income taxes67/77 | €12,939 | €42,455 | €340 | €11,646 | €7,477 | ▼ 35.8% |
| Profit (loss) for the period9904 | €32,453 | €148,369 | -€102,199 | €101,568 | €509 | ▼ 99.5% |
| Profit (loss) for the period to be appropriated9905 | €32,453 | €148,369 | -€102,199 | €101,568 | €509 | ▼ 99.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €633,578 | €1.0m | €939,899 | €869,786 | €925,235 | ▲ 6.4% |
| Fixed assets21/28 | €78,511 | €187,081 | €156,136 | €112,811 | €84,519 | ▼ 25.1% |
| Intangible fixed assets21 | €29,370 | €67,632 | €48,032 | €24,215 | €13,772 | ▼ 43.1% |
| Tangible fixed assets22/27 | €25,145 | €83,102 | €73,237 | €55,597 | €41,727 | ▼ 24.9% |
| Plant, machinery and equipment23 | €7,543 | €7,944 | €8,887 | €3,910 | €982 | ▼ 74.9% |
| Furniture and vehicles24 | €15,893 | €27,818 | €20,287 | €12,977 | €7,381 | ▼ 43.1% |
| Other tangible fixed assets26 | €1,709 | €47,340 | €44,063 | €38,710 | €33,364 | ▼ 13.8% |
| Financial fixed assets28 | €23,996 | €36,348 | €34,868 | €32,999 | €29,020 | ▼ 12.1% |
| Current assets29/58 | €555,067 | €848,333 | €783,762 | €756,975 | €840,716 | ▲ 11.1% |
| Amounts receivable after more than one year29 | €23,140 | €15,619 | €7,907 | - | - | - |
| Other amounts receivable291 | €23,140 | €15,619 | €7,907 | - | - | - |
| Amounts receivable within one year40/41 | €1,678 | €17,009 | €49,619 | €51,979 | €393,329 | ▲ 657% |
| Trade receivables40 | - | €787 | €2,712 | €5,275 | €54,937 | ▲ 941% |
| Other amounts receivable41 | €1,678 | €16,222 | €46,907 | €46,704 | €338,392 | ▲ 625% |
| Cash at bank and in hand54/58 | €529,902 | €808,111 | €720,141 | €694,752 | €441,788 | ▼ 36.4% |
| Deferred charges and accrued income490/1 | €348 | €7,595 | €6,096 | €10,244 | €5,599 | ▼ 45.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €633,578 | €1.0m | €939,899 | €869,786 | €925,235 | ▲ 6.4% |
| Equity10/15 | €90,907 | €239,276 | €137,077 | €238,644 | €239,153 | ▲ 0.2% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | - | - |
| Distributable reserves133 | - | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | €70,447 | €218,816 | €116,617 | €218,184 | €218,693 | ▲ 0.2% |
| Amounts payable17/49 | €542,671 | €796,139 | €802,822 | €631,142 | €686,082 | ▲ 8.7% |
| Amounts payable within one year42/48 | €313,443 | €330,734 | €381,983 | €231,971 | €180,898 | ▼ 22.0% |
| Trade debts44 | €196,951 | €220,639 | €249,381 | €194,033 | €105,832 | ▼ 45.5% |
| Suppliers440/4 | €196,951 | €220,639 | €249,381 | €194,033 | €105,832 | ▼ 45.5% |
| Taxes, remuneration and social security45 | €77,871 | €110,095 | €130,684 | €37,352 | €75,065 | ▲ 101% |
| Taxes450/3 | €22,848 | €39,479 | €26,239 | €1,059 | - | - |
| Remuneration and social security454/9 | €55,023 | €70,616 | €104,445 | €36,293 | €75,065 | ▲ 107% |
| Other amounts payable47/48 | €38,621 | - | €1,918 | €586 | - | - |
| Accrued charges and deferred income492/3 | €229,229 | €465,405 | €420,839 | €399,171 | €505,184 | ▲ 26.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32,453 | €148,369 | -€102,199 | €101,568 | €509 | ▼ 99.5% |
| + Depreciation and write-downs630 | €37,291 | €30,380 | €44,139 | €40,794 | €24,902 | ▼ 39.0% |
| Operating cash flow (approximation) | €69,744 | €178,748 | -€58,060 | €142,361 | €25,412 | ▼ 82.1% |
| Investment in fixed assets (approximation) | - | -€138,950 | -€13,194 | €2,532 | €3,389 | ▲ 33.9% |
| Change in cash | - | €278,209 | -€87,970 | -€25,389 | -€252,964 | ▼ 896% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 31 days late
2024
31-12
Financial
Back to profitnet €101,568
Net result €101,568 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €238,644 ▲74.1%
Equity rises from €137,077 to €238,644.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Weakest financial yearnet -€102,199
Net result drops to -€102,199, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Highest result since 2018net €148,369 ▲357%
Operating result €190,640, net result €148,369, both a record.
31-12
Financial
Equity above €200,000Eq €239,276 ▲163%
5 profitable years in a row build equity to €239,276.
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 23 days late
2021
06-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 6 days late
2020
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 56 days late
Show earlier events
2019
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 21 days late
2018
25-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
17-02
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 7 acts read
About the unread acts
We know of 7 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
7 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, Elsene · 2 establishment units since 2015
Ground area
5,559 m²
Building footprint
4,512 m²
Volume, LiDAR
102,261 m³
3 parcels, Brussels · tallest building 46.8 m, ±8 floors. Linked by address, not a title deed.
46
companies at this address
See who is registered here
2 establishment units
Knowledge Fusion
since 20152.246.515.149
Vanderkinderestraat 194, 1180 Ukkel
since 20232.342.752.908
3 parcels
Brussels
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21443C0149/00M000 | Brussels | 4,093 m² | 1 · 4,090 m² | 46.8 m · 8 fl. |
| 21443C0190/03B003 | Brussels | 1,321 m² | 1 · 325 m² | 20.6 m · 6 fl. |
| 21016B0277/00L022 | Brussels | 144 m² | 1 · 97 m² | 18.4 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Owners and holdings
2 owners · 1 holdingChain of control
- BRAINCRAFT
- KNOWLEDGE FUSION
Highest known parent: BRAINCRAFT. The sources do not say who stands above it.
Owners 2
- BRAINCRAFTparentSourceaccounts BRAINCRAFT 2025100%
- Sourceaccounts CORVEST 202521.72%
Holdings 1
-
100%
According to the 2025 annual accounts of KNOWLEDGE FUSION and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 11,670 companies in sector 85599 we hold annual accounts for 1,329. 909 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded17-09-2015
Fiscal year end31-12
Activities, NACEBEL 2025
85599Other education
E-invoicing
Reachable via Peppol
Peppol ID
0208:0637861211
Registered
08-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.