ACTIVE

CHALLENGE LEARNING

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Financial year 2025 · closed on 31/12/2025

Net result

104 €

-99.2% YoY

Gross margin

6,5 k €

-65.2% YoY

Equity

293,7 k €

+0.0% YoY

What does CHALLENGE LEARNING do?

CHALLENGE LEARNING is a Private limited company incorporated in 1996. Its main activity is: Other professional, scientific and technical activities. Its registered office is in Hoegaarden.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0459.294.307

Incorporation

21/11/1996

Legal form

Private limited company

Registered office

Ridderstraat 29
3320 Hoegaarden · FlandreSee on map

Contributed capital

18 750,00 €

Latest accounts

31/12/2025

Activities (NACE)

74501Other professional, scientific and technical activities· main 78100Activities of employment placement agencies 78100Activities of employment placement agencies

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	6,5 k €	-65.2%	18,6 k €	-22.5%	24 k €	+18.9%	20,2 k €	+356%	-7,9 k €	+43.8%	-14,1 k €	-172%	19,5 k €	+227%	6 k €	-92.1%	75,8 k €	+15.5%	65,6 k €	+40.4%	46,7 k €	-19.9%	58,3 k €	-20.0%	72,9 k €	-1.6%	74,1 k €	-4.8%	77,8 k €	+42.6%	54,5 k €	-14.8%	64 k €	-25.9%	86,3 k €	+58.2%	54,6 k €	+172%	20,1 k €
EBITDA	3,6 k €	-78.7%	16,7 k €	-22.9%	21,7 k €	+19.2%	18,2 k €	+300%	-9,1 k €	+44.2%	-16,3 k €	-187%	18,7 k €	+505%	3,1 k €	-95.7%	72,6 k €	+12.8%	64,3 k €	+39.5%	46,1 k €	-19.9%	57,6 k €	-25.0%	76,8 k €	+4.0%	73,8 k €	-8.9%	81 k €	+51.8%	53,4 k €	-13.1%	61,4 k €	-23.6%	80,4 k €	+49.8%	53,7 k €	+219%	16,8 k €
Operating result	-3,9 k €	-148%	8,1 k €	-18.1%	9,9 k €	+89.0%	5,2 k €	+122%	-24 k €	+37.4%	-38,3 k €	-941%	-3,7 k €	+81.3%	-19,7 k €	-138%	51,3 k €	+13.7%	45,1 k €	+30.3%	34,6 k €	-23.6%	45,3 k €	-36.4%	71,2 k €	+4.0%	68,5 k €	-8.2%	74,6 k €	+182%	26,4 k €	-37.6%	42,4 k €	-24.0%	55,7 k €	+43.8%	38,8 k €	+505%	6,4 k €
Net result	104 €	-99.2%	12,8 k €	+488%	2,2 k €	+320%	-994,9 €	-117%	5,7 k €	+115%	-38,6 k €	-726%	-4,7 k €	-230%	3,6 k €	-88.7%	32 k €	+18.7%	26,9 k €	+17.5%	22,9 k €	-27.2%	31,5 k €	-36.1%	49,3 k €	-7.0%	53 k €	+11.9%	47,3 k €	+139%	19,8 k €	-35.2%	30,5 k €	-13.9%	35,4 k €	+24.4%	28,5 k €	+428%	5,4 k €
Balance sheet
Equity	293,7 k €	+0.0%	293,5 k €	+4.6%	280,7 k €	+0.8%	278,5 k €	-0.4%	279,5 k €	+2.1%	273,8 k €	-12.4%	312,4 k €	-1.5%	317,1 k €	+1.1%	313,5 k €	+13.4%	276,3 k €	+10.8%	249,4 k €	+10.1%	226,5 k €	+16.1%	195 k €	+33.8%	145,7 k €	+57.1%	92,7 k €	-2.8%	95,4 k €	+0.3%	95,1 k €	-19.8%	118,6 k €	+0.4%	118,2 k €	+31.7%	89,7 k €
Total assets	330,9 k €	+6.9%	309,5 k €	+6.9%	289,4 k €	+0.8%	287,2 k €	+1.3%	283,5 k €	-16.5%	339,7 k €	-15.3%	401,1 k €	+16.8%	343,4 k €	-3.6%	356,3 k €	+6.7%	333,8 k €	+12.3%	297,4 k €	+3.2%	288,2 k €	+24.3%	231,9 k €	+12.9%	205,4 k €	+0.1%	205,2 k €	+20.9%	169,8 k €	+27.6%	133,1 k €	-46.6%	249,4 k €	+34.6%	185,3 k €	+25.8%	147,3 k €
Cash	2,7 k €	+0.4%	2,7 k €	+74.7%	1,6 k €	+0.1%	1,6 k €	-95.7%	36,3 k €	-43.2%	63,9 k €	-36.5%	100,7 k €	+9.1%	92,3 k €	+39.9%	66 k €	+5.2%	62,7 k €	+62.5%	38,6 k €	-27.9%	53,5 k €	-51.4%	110 k €	+43.0%	76,9 k €	+50.3%	51,2 k €	+63.5%	31,3 k €	+35.9%	23 k €	-50.9%	46,9 k €	+243%	13,7 k €	-36.3%	21,4 k €
Debts	37,2 k €	+134%	15,9 k €	+82.4%	8,7 k €	+0.7%	8,7 k €	+118%	4 k €	-94.0%	65,9 k €	-25.7%	88,7 k €	+237%	26,3 k €	-38.6%	42,9 k €	-25.5%	57,5 k €	+19.9%	48 k €	-22.3%	61,7 k €	+67.3%	36,9 k €	-33.2%	55,2 k €	-50.9%	112,5 k €	+61.6%	69,6 k €	+83.5%	37,9 k €	-71.0%	130,8 k €	+94.8%	67,2 k €	+16.6%	57,6 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

Willem Willy Vander Elst

Director · since 30 novembre 1996

Active

Ended mandates

Willem Vander elst

Director

Ended

WIM VANDER ELST

Director

Ended

WIM VANDER ELST

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
INTC● Active	0729.871.946

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	30/12/2022	30/12/2021	30/12/2020
Length of the financial year	12 months	12 months	13 months	13 months	13 months	13 months
Filing date	30/07/2026	21/07/2025	10/08/2024	28/07/2023	21/07/2022	29/07/2021
General meeting	30/06/2026	23/06/2025	12/07/2024	29/06/2023	29/06/2022	30/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	30/06/2026	30/07/2026	Dutch	PDF
Micro model	31/12/2024	23/06/2025	21/07/2025	Dutch	PDF
Micro model	31/12/2023	12/07/2024	10/08/2024	Dutch	PDF
Micro model	30/12/2022	29/06/2023	28/07/2023	Dutch	PDF
Micro model	30/12/2021	29/06/2022	21/07/2022	Dutch	PDF
Micro model	30/12/2020	30/06/2021	29/07/2021	Dutch	PDF
Micro model	30/12/2019	28/08/2020	26/09/2020	Dutch	PDF
Micro model	30/12/2018	14/05/2019	04/07/2019	Dutch	PDF
Micro model	30/12/2017	08/05/2018	07/06/2018	Dutch	PDF
Micro model	30/12/2016	16/05/2017	23/05/2017	Dutch	PDF
Abridged model	30/12/2015	10/05/2016	15/06/2016	Dutch	PDF
Abridged model	30/12/2014	12/05/2015	15/06/2015	Dutch	PDF
Abridged model	30/12/2013	13/05/2014	19/06/2014	Dutch	PDF
Abridged model	30/12/2012	14/05/2013	01/07/2013	Dutch	PDF
Abridged model	30/12/2011	08/05/2012	21/06/2012	Dutch	PDF
Abridged model	30/12/2010	10/05/2011	29/08/2011	Dutch	PDF
Abridged model	30/12/2009	11/05/2010	17/06/2010	Dutch	PDF
Abridged model	30/12/2008	12/05/2009	30/07/2009	Dutch	PDF
Abridged model	30/12/2007	13/05/2008	02/07/2008	Dutch	PDF
Abridged model	30/12/2006	08/05/2007	21/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

Willem Willy Vander Elst

Director · since 30 novembre 1996

Active

Ended mandates

Willem Vander elst

Director

Ended

WIM VANDER ELST

Director

Ended

WIM VANDER ELST

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025104 €↓
2024
Annual accounts 202412,8 k €↑
2023
Annual accounts 20232,2 k €↑
2022
Annual accounts 2022-994,9 €↓
2021
Annual accounts 20215,7 k €↑
2020
Annual accounts 2020-38,6 k €↓
2019
Annual accounts 2019-4,7 k €↓
2018
Annual accounts 20183,6 k €↓
2017
Annual accounts 201732 k €↑
2016
Annual accounts 201626,9 k €↑
2015
Annual accounts 201522,9 k €↓
2014
Annual accounts 201431,5 k €↓
2013
Annual accounts 201349,3 k €↓
2012
Annual accounts 201253 k €↑
2011
Annual accounts 201147,3 k €↑
2010
Annual accounts 201019,8 k €↓
2009
Annual accounts 200930,5 k €↓
2008
Annual accounts 200835,4 k €↑
2007
Annual accounts 200728,5 k €↑
2006
Annual accounts 20065,4 k €
21/11/1996
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

CHALLENGE LEARNING

Overview

What does CHALLENGE LEARNING do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Similar companies

Similar companies

Timeline