LEARNENCE
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 28 days after the deadline Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00487593.
Annual accounts 2025 filed on 28-08-2026 at the NBB all 15 filings
Turnover
≈ €790,000
Estimated: probably between €550,000 and €1.3m
Total assets
€527,712▼ 2.2%
2024 · €539,377
Net result
-€21,335
2024 · €11,707
Working capital
€330,834▼ 17.0%
2024 · €398,460
In the rankings
#3 company by equity in Jodoigne, Telecoms and IT sector#5 company by total assets in Jodoigne, Telecoms and IT sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€21,784
2025
20182025
Net result
-€21,335
2025
lowest quarter of the sector
20182025
Equity
€441,147
▼ 4.6%
2025
highest quarter of the sector
20182025
Total assets
€527,712
▼ 2.2%
2025
highest quarter of the sector
20182025
Debt
€86,564
▲ 12.6%
2025
20182025
Working capital
€330,834
▼ 17.0%
2025
highest quarter of the sector
20182025
Solvency
83.6%
▼ 2.1pp
2025
highest quarter of the sector
20182025
Current ratio
4.82
▼ 1.36
2025
middle half of the sector
20182025
Return on assets (ROA)
-4.0%
▼ 6.2pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€31,147-€51,293▲ 64.7%€88,227▲ 72.0%€274,178▲ 211%€312,227▲ 13.9%-€142,408€11,101-€21,784
Net result€23,515-€34,476▲ 46.6%€74,323above the sector's middle half▲ 116%€181,431above the sector's middle half▲ 144%€204,774above the sector's middle half▲ 12.9%-€155,557below the sector's middle half€11,707within the sector's middle half-€21,335below the sector's middle half
Equity€153,330-€187,806▲ 22.5%€255,129above the sector's middle half▲ 35.8%€436,560above the sector's middle half▲ 71.1%€606,333above the sector's middle half▲ 38.9%€450,776above the sector's middle half▼ 25.7%€462,483above the sector's middle half▲ 2.6%€441,147above the sector's middle half▼ 4.6%
Total assets€227,031-€248,857▲ 9.6%€327,259above the sector's middle half▲ 31.5%€547,306above the sector's middle half▲ 67.2%€690,984above the sector's middle half▲ 26.3%€535,761above the sector's middle half▼ 22.5%€539,377above the sector's middle half▲ 0.7%€527,712above the sector's middle half▼ 2.2%
Debt€73,700-€61,050▼ 17.2%€72,130▲ 18.1%€110,746▲ 53.5%€72,066▼ 34.9%€56,786▼ 21.2%€76,894▲ 35.4%€86,564▲ 12.6%
Working capital€165,043-€177,467▲ 7.5%€190,015above the sector's middle half▲ 7.1%€318,543above the sector's middle half▲ 67.6%€501,285above the sector's middle half▲ 57.4%€420,393above the sector's middle half▼ 16.1%€398,460above the sector's middle half▼ 5.2%€330,834above the sector's middle half▼ 17.0%
Solvency67.5%-75.5%▲ 7.9pp78.0%within the sector's middle half▲ 2.5pp79.8%above the sector's middle half▲ 1.8pp87.7%above the sector's middle half▲ 8.0pp84.1%above the sector's middle half▼ 3.6pp85.7%above the sector's middle half▲ 1.6pp83.6%above the sector's middle half▼ 2.1pp
Current ratio4.32-3.91▼ 0.423.63within the sector's middle half▼ 0.273.88within the sector's middle half▲ 0.247.96above the sector's middle half▲ 4.088.40above the sector's middle half▲ 0.456.18above the sector's middle half▼ 2.224.82within the sector's middle half▼ 1.36
Return on assets (ROA)10.4%-13.9%▲ 3.5pp22.7%within the sector's middle half▲ 8.9pp33.1%above the sector's middle half▲ 10.4pp29.6%above the sector's middle half▼ 3.5pp-29.0%below the sector's middle half▼ 58.7pp2.2%below the sector's middle half▲ 31.2pp-4.0%below the sector's middle half▼ 6.2pp
Staff (FTE)1.9-2.4▲ 26.3%2.6within the sector's middle half▲ 8.3%4.1▲ 57.7%
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 loss of €21,784, after a profit of €11,101 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 €527,712
Fixed assets
€110,313 ▲ 72.3%
Current assets
€417,398 ▼ 12.2%
Equity and liabilities €527,712
Equity
€441,147 ▼ 4.6%
Debt
€86,564 ▲ 12.6%
Debt's share of the balance-sheet total rises from 14.3% to 16.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€17,570▼
2024 · €51,036
Cash flow
€18,019▼
2024 · €51,642
Debt to equity
0.20▲
2024 · 0.17
ROE
-4.8%▼
2024 · 2.5%
Interest coverage
7.65▼
2024 · 35.54
Debt ≤ 1 year
€86,564▲
2024 · €76,894
Income taxes
€732▲
2024 · €723
Staff costs
€280,784▼
2024 · €307,662
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2023 | 31-12-2024 |
|---|---|---|---|
| Employees at the balance-sheet date | 6 | 0 | 0 |
| full-time | 6 | 0 | 0 |
| part-time | - | 0 | 0 |
| in full-time equivalents | 6 | - | - |
| Average over the year, in full-time equivalents | 4.1 | - | - |
| On a permanent contract | 6 | - | - |
| Joined | 3 | - | - |
| Left | 0 | - | - |
Source: social balance sheet in the 2021 to 2024 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €93,329 | €60,433 | - | €45,376 | €84,526 |
| Intangible fixed assets | - | - | - | - | €1,118 |
| Depreciation and write-downs of the year | €40,359 | €60,817 | €59,051 | €39,935 | €39,354 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Public contracts
4 awards · 2024
Formateurs Métiers de l'image: Animation Stop Motion
Formateurs Métiers de l'image: Technique de streaming
Formateurs Métiers de l'image: La vidéo dans les arts de la scène
Formateurs Métiers de l'image: Régie vidéo Multicaméra (Montage Live vidéo avec Blackmagic 1 M/E et 2 M/E )
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €159,080 | €297,877 | €266,772 | €307,662 | €280,784 | ▼ 8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,392 | €9,677 | €13,465 | €40,359 | €60,817 | €59,051 | €39,935 | €39,354 | ▼ 1.5% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €12,584 | €15,615 | -€28,199 | - | - |
| Other operating charges640/8 | - | - | - | €1,409 | €12,907 | €858 | €2,016 | €2,507 | ▲ 24.3% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €694 | - |
| Gross operating margin9900 | €96,542 | €140,643 | €177,476 | €475,026 | €696,413 | €199,887 | €332,515 | €301,555 | ▼ 9.3% |
| Operating profit (loss)9901 | €31,147 | €51,293 | €88,227 | €274,178 | €312,227 | -€142,408 | €11,101 | -€21,784 | - |
| Financial income75/76B | - | - | - | €44 | - | €5,184 | €2,765 | €3,477 | ▲ 25.8% |
| Recurring financial income75 | €12 | €62 | €2 | €44 | - | €1,188 | €2,765 | €3,477 | ▲ 25.8% |
| Non-recurring financial income76B | - | - | - | - | - | €3,996 | - | - | - |
| Financial charges65/66B | - | - | - | €350 | €15,171 | €17,866 | €1,436 | €2,297 | ▲ 59.9% |
| Recurring financial charges65 | €223 | €238 | €814 | €350 | €15,171 | €17,866 | €1,436 | €2,297 | ▲ 59.9% |
| Profit (loss) for the period before taxes9903 | €30,936 | €51,116 | €87,415 | €273,871 | €297,056 | -€155,091 | €12,430 | -€20,604 | - |
| Income taxes67/77 | €7,421 | €16,641 | €13,093 | €92,441 | €92,283 | €466 | €723 | €732 | ▲ 1.2% |
| Profit (loss) for the period9904 | €23,515 | €34,476 | €74,323 | €181,431 | €204,774 | -€155,557 | €11,707 | -€21,335 | - |
| Transfer from tax-exempt reserves789 | - | - | - | €7,500 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €23,515 | €34,476 | €74,323 | €188,931 | €204,774 | -€155,557 | €11,707 | -€21,335 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €227,031 | €248,857 | €327,259 | €547,306 | €690,984 | €535,761 | €539,377 | €527,712 | ▼ 2.2% |
| Fixed assets21/28 | €12,338 | €10,339 | €65,114 | €118,016 | €117,633 | €58,582 | €64,023 | €110,313 | ▲ 72.3% |
| Intangible fixed assets21 | - | - | - | - | - | - | - | €1,043 | - |
| Tangible fixed assets22/27 | €11,038 | €9,039 | €63,544 | €116,446 | €116,063 | €57,012 | €62,453 | €107,700 | ▲ 72.4% |
| Furniture and vehicles24 | - | - | - | €110,759 | €111,214 | €53,001 | €59,209 | €102,441 | ▲ 73.0% |
| Other tangible fixed assets26 | - | - | - | €5,687 | €4,849 | €4,010 | €3,244 | €5,259 | ▲ 62.1% |
| Financial fixed assets28 | €1,300 | €1,300 | €1,570 | €1,570 | €1,570 | €1,570 | €1,570 | €1,570 | = |
| Current assets29/58 | €214,693 | €238,518 | €262,146 | €429,290 | €573,351 | €477,179 | €475,354 | €417,398 | ▼ 12.2% |
| Amounts receivable within one year40/41 | €120,332 | €104,058 | €133,707 | €197,857 | €183,853 | €185,347 | €167,501 | €188,079 | ▲ 12.3% |
| Trade receivables40 | - | - | - | €197,857 | €151,462 | €180,071 | €154,389 | €149,488 | ▼ 3.2% |
| Other amounts receivable41 | - | - | - | - | €32,391 | €5,277 | €13,112 | €38,590 | ▲ 194% |
| Cash at bank and in hand54/58 | €93,783 | €134,459 | €125,499 | €193,197 | €389,497 | €291,385 | €296,495 | €223,514 | ▼ 24.6% |
| Deferred charges and accrued income490/1 | - | - | - | €38,237 | - | €446 | €11,358 | €5,805 | ▼ 48.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €227,031 | €248,857 | €327,259 | €547,306 | €690,984 | €535,761 | €539,377 | €527,712 | ▼ 2.2% |
| Equity10/15 | €153,330 | €187,806 | €255,129 | €436,560 | €606,333 | €450,776 | €462,483 | €441,147 | ▼ 4.6% |
| Contributions10/11 | €6,900 | €6,900 | - | €6,900 | €6,900 | €8,970 | €8,970 | €8,970 | = |
| Reserves13 | €9,570 | €9,570 | €9,570 | €187,070 | €387,070 | €385,000 | €385,000 | €385,000 | = |
| Non-distributable reserves130/1 | - | - | - | €2,070 | €2,070 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,070 | €2,070 | - | - | - | - |
| Distributable reserves133 | - | - | - | €185,000 | €385,000 | €385,000 | €385,000 | €385,000 | = |
| Profit (loss) carried forward14 | €136,860 | €171,336 | €238,659 | €242,590 | €212,363 | €56,806 | €68,513 | €47,177 | ▼ 31.1% |
| Provisions and deferred taxes16 | - | - | - | - | €12,584 | €28,199 | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €12,584 | €28,199 | - | - | - |
| Other liabilities and charges164/5 | - | - | - | - | €12,584 | €28,199 | - | - | - |
| Amounts payable17/49 | €73,700 | €61,050 | €72,130 | €110,746 | €72,066 | €56,786 | €76,894 | €86,564 | ▲ 12.6% |
| Amounts payable within one year42/48 | €49,650 | €61,050 | €72,130 | €110,746 | €72,066 | €56,786 | €76,894 | €86,564 | ▲ 12.6% |
| Financial debts43 | - | - | - | - | - | - | €4,490 | €558 | ▼ 87.6% |
| Credit institutions430/8 | - | - | - | - | - | - | €4,490 | €558 | ▼ 87.6% |
| Trade debts44 | €9,000 | €21,905 | €23,309 | €41,407 | €30,288 | €19,663 | €17,815 | €33,062 | ▲ 85.6% |
| Suppliers440/4 | - | - | - | €41,407 | €30,288 | €19,663 | €17,815 | €33,062 | ▲ 85.6% |
| Taxes, remuneration and social security45 | - | - | - | €56,794 | €41,778 | €37,123 | €54,589 | €52,944 | ▼ 3.0% |
| Taxes450/3 | - | - | - | €36,748 | €9,598 | €10,050 | €21,539 | €15,955 | ▼ 25.9% |
| Remuneration and social security454/9 | - | - | - | €20,046 | €32,179 | €27,073 | €33,050 | €36,989 | ▲ 11.9% |
| Other amounts payable47/48 | - | - | - | €12,545 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,515 | €34,476 | €74,323 | €181,431 | €204,774 | -€155,557 | €11,707 | -€21,335 | - |
| + Depreciation and write-downs630 | €11,392 | €9,677 | €13,465 | €40,359 | €60,817 | €59,051 | €39,935 | €39,354 | ▼ 1.5% |
| Operating cash flow (approximation) | €34,907 | €44,152 | €87,788 | €221,790 | €265,591 | -€96,507 | €51,642 | €18,019 | ▼ 65.1% |
| Investment in fixed assets (approximation) | - | -€7,678 | -€68,240 | -€93,261 | -€60,433 | €0 | -€45,376 | -€85,644 | ▼ 88.7% |
| Change in cash | - | €40,676 | -€8,960 | €67,697 | €196,301 | -€98,112 | €5,109 | -€72,980 | - |
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, 2,686 companies had the same profile as LEARNENCE has now. Two years later, 93.7% were still going and 0.6% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
93.7%
was still going
5.4%
stopped otherwise
0.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LEARNENCE 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 2,686 companies, not a prediction for LEARNENCE. 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 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-08-2026 | 2026-00487593 | |
| 31-12-2024 | micro format | 23-07-2025 | 2025-00317718 | |
| 31-12-2023 | micro format | 20-08-2024 | 2024-00360705 | |
| 31-12-2022 | micro format | 25-07-2023 | 2023-00288822 | |
| 31-12-2021 | micro format | 11-08-2022 | 2022-20286865 | |
| 31-12-2020 | micro format | 11-08-2021 | 2021-47900075 | |
| 31-12-2019 | micro format | 09-07-2020 | 2020-28100180 | |
| 31-12-2018 | micro format | 25-07-2019 | 2019-38600303 | |
| 31-12-2017 | micro format | 17-08-2018 | 2018-47200114 | |
| 31-12-2016 | micro format | 26-06-2017 | 2017-21500579 |