That's Why
ActiveSummary
That's Why has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2k and a net result of €3k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 22% of 9517 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+100
Solvency40▲+33
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
14.6%
Return on assets
30.8%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 9517 sector peers (2024).
NBB · sector comparisonPosition among 9517 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-07-2025, 5 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
5 d early
2023
50 d early
2022
18 d late
2021
34 d early
2020
156 d early
2019
90 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€2k
2023 · €-2k
Total assets
€10k▲ 11.1%
2023 · €9k
Net result
€3k
2023 · €-3k
Working capital
€1k
2023 · €-2k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€1k▲ 526%€-7k€875€-3k€3k
Net result€993▲ 517%€-7k€802€-3k€3k
Equity€7k▲ 16.1%€427▼ 94.0%€1k▲ 188%€-2k€2k
Total assets€25k▲ 22.7%€6k▼ 76.1%€5k▼ 13.9%€9k▲ 80.1%€10k▲ 11.1%
Debt€18k▲ 25.6%€6k▼ 68.9%€4k▼ 29.5%€11k▲ 179%€9k▼ 19.6%
Working capital€7k▲ 16.1%€-967€240€-2k€1k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €3k after a loss of €3k in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €10k
Fixed assets
€268 ▼ 54.0%
Current assets
€10k ▲ 15.5%
Equity and liabilities €10k
Equity
€2k
Debt
€9k
Debt finances 85.4% of the balance-sheet total.
Key figures and ratios
EBITDA
€4k▲
2023 · €-2k
Cash flow
€3k▲
2023 · €-2k
Current ratio
1.14▲
2023 · 0.79
Debt to equity
5.83▲
2023 · -6.56
ROE
210.4%
ROA
30.8%▲
2023 · -31.2%
Interest coverage
44.99
Debt ≤ 1 year
€9k▼
2023 · €11k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €357 | €405 | €405 | €316 | ▼ 22.1% |
| Other operating charges640/8 | - | €411 | €4 | €358 | €150 | ▼ 58.2% |
| Non-recurring operating charges66A | - | - | €657 | - | - | - |
| Gross operating margin9900 | €2k | €-6k | €2k | €-2k | €4k | ▲ 274% |
| Operating profit (loss)9901 | €1k | €-7k | €875 | €-3k | €3k | ▲ 212% |
| Financial income75/76B | - | €192 | - | €8 | - | - |
| Recurring financial income75 | €3 | €192 | - | €8 | - | - |
| Financial charges65/66B | - | €305 | €73 | - | €79 | - |
| Recurring financial charges65 | €61 | €305 | €73 | - | €79 | - |
| Profit (loss) for the period before taxes9903 | €1k | €-7k | €802 | €-3k | €3k | ▲ 210% |
| Income taxes67/77 | €389 | - | - | - | - | - |
| Profit (loss) for the period9904 | €993 | €-7k | €802 | €-3k | €3k | ▲ 210% |
| Profit (loss) for the period to be appropriated9905 | €993 | €-7k | €802 | €-3k | €3k | ▲ 210% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €25k | €6k | €5k | €9k | €10k | ▲ 11.1% |
| Fixed assets21/28 | - | €1k | €989 | €584 | €268 | ▼ 54.0% |
| Tangible fixed assets22/27 | - | €1k | €989 | €584 | €268 | ▼ 54.0% |
| Furniture and vehicles24 | - | €1k | €989 | €584 | €268 | ▼ 54.0% |
| Current assets29/58 | €25k | €5k | €4k | €9k | €10k | ▲ 15.5% |
| Amounts receivable within one year40/41 | €24k | €3k | €2k | €8k | €9k | ▲ 15.4% |
| Trade receivables40 | - | €2k | €2k | €1k | €2k | ▲ 102% |
| Other amounts receivable41 | - | €772 | €17 | €7k | €7k | ▼ 0.2% |
| Cash at bank and in hand54/58 | €548 | €1k | €2k | €982 | €1k | ▲ 16.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €25k | €6k | €5k | €9k | €10k | ▲ 11.1% |
| Equity10/15 | €7k | €427 | €1k | €-2k | €2k | ▲ 191% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €1k | €600 | €600 | €600 | €600 | = |
| Non-distributable reserves130/1 | - | €600 | €600 | €600 | €600 | = |
| Reserves not available under the articles1311 | - | €600 | €600 | €600 | €600 | = |
| Profit (loss) carried forward14 | - | €-6k | €-5k | €-8k | €-5k | ▲ 38.4% |
| Amounts payable17/49 | €18k | €6k | €4k | €11k | €9k | ▼ 19.6% |
| Amounts payable within one year42/48 | €18k | €6k | €4k | €11k | €9k | ▼ 19.6% |
| Trade debts44 | €15k | €4k | €2k | €1k | €2k | ▲ 83.4% |
| Suppliers440/4 | - | €4k | €2k | €1k | €2k | ▲ 83.4% |
| Taxes, remuneration and social security45 | - | €1k | - | - | - | - |
| Taxes450/3 | - | €1k | - | - | - | - |
| Other amounts payable47/48 | - | - | €2k | €10k | €7k | ▼ 31.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €993 | €-7k | €802 | €-3k | €3k | ▲ 210% |
| + Depreciation and write-downs630 | - | €357 | €405 | €405 | €316 | ▼ 22.1% |
| Operating cash flow (approximation) | €993 | €-6k | €1k | €-2k | €3k | ▲ 240% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | - |
| Change in cash | - | €915 | €217 | €-698 | €158 | ▲ 123% |
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
2025
26-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
18-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 18 days late
2022
31-12
Financial
Back to profitnet €802
Net result €802 after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series; recovery starts the following year.
25-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Wevelgem · 1 establishment unit since 2019
Ground area
820 m²
Building footprint
221 m²
Volume, LiDAR
962 m³
2 parcels, Flanders · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
That's Why
since 20192.295.782.142
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46016D0351/00A000 | Flanders | 627 m² | 1 · 127 m² | 6.1 m · 2 fl. |
| 34302B0154/00T000 | Flanders | 193 m² | 1 · 94 m² | 9.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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Of 24,515 companies in sector 82990 we hold annual accounts for 9,408. 1,374 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
Founded28-10-2019
Fiscal year end31-12
Abbreviation NL
TW
Activities, NACEBEL 2025
82990Other business support services
62900Other information technology and computer services
62100Computer programming
62200Computer consultancy and computer facilities management
63100Computing infrastructure, data processing, hosting and related activities
Contact
Website
www.thatswhy.be
Scores and ratios are computed by Checked and are not a credit decision.