WHY NOT
ActiveSummary
WHY NOT has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€321,664) and a net result of -€80,042. The figures fluctuate too strongly year-on-year for a reliable trend projection. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability7▲+6
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 13.4 against 0.48 in 2024; short-term debt: 4.5% and cash: 3.8% of total assets), but equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 2025Solvency, return and age of the figures
Solvency
-39%
Return on assets
-9.7%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€321,664
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
13 d early
2023
8 d early
2022
7 d early
2021
13 d early
2020
11 d early
2019
10 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€321,664▼ 33.1%
2024 · -€241,622
Total assets
€824,630▼ 5.0%
2024 · €868,465
Net result
-€80,042▲ 35.9%
2024 · -€124,926
Working capital
€455,217
2024 · -€580,339
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
Line20212022202320242025
Operating result-€18,586-€93,552▼ 403%-€83,467▲ 10.8%-€90,955▼ 9.0%-€79,802▲ 12.3%
Net result-€18,976-€33,347▼ 75.7%-€110,878▼ 232%-€124,926▼ 12.7%-€80,042▲ 35.9%
Equity€27,529▼ 40.8%-€5,818-€116,696▼ 1,906%-€241,622▼ 107%-€321,664▼ 33.1%
Total assets€959,486▼ 1.4%€931,316▼ 2.9%€929,977▼ 0.1%€868,465▼ 6.6%€824,630▼ 5.0%
Debt€845,376▲ 0.6%€937,134▲ 10.9%€1.0m▲ 11.7%€1.1m▲ 6.1%€1.1m▲ 3.3%
Working capital€609,421€558,427▼ 8.4%€548,767▼ 1.7%-€580,339€455,217
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €79,802 in 2025 against €90,955 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €824,630
Fixed assets
€332,716 ▼ 1.9%
Current assets
€491,914 ▼ 7.1%
Key figures and ratios
EBITDA
-€73,308▲
2024 · -€84,461
Cash flow
-€73,548▲
2024 · -€118,432
Solvency
-39.0%▼
2024 · -27.8%
Current ratio
13.40▲
2024 · 0.48
Debt to equity
-3.56▲
2024 · -4.59
ROA
-9.7%▲
2024 · -14.4%
Interest coverage
-79.15▼
2024 · -2.44
Debt ≤ 1 year
€36,697▼
2024 · €1.1m
Debt > 1 year
€1.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €78,755 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €200,871 | €199,961 | €209,255 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,240 | €6,240 | €6,438 | €6,494 | €6,494 | = |
| Other operating charges640/8 | - | €14,248 | €62 | €1,115 | €280 | ▼ 74.9% |
| Non-recurring operating charges66A | €59,519 | €40,737 | €40,741 | €40,737 | €40,737 | = |
| Gross operating margin9900 | €47,173 | -€32,327 | -€36,225 | -€42,609 | -€32,291 | ▲ 24.2% |
| Operating profit (loss)9901 | -€18,586 | -€93,552 | -€83,467 | -€90,955 | -€79,802 | ▲ 12.3% |
| Financial income75/76B | - | €34 | €266 | €663 | €686 | ▲ 3.5% |
| Recurring financial income75 | - | €34 | €266 | €663 | €686 | ▲ 3.5% |
| Financial charges65/66B | €390 | €26,409 | €27,678 | €34,634 | €926 | ▼ 97.3% |
| Recurring financial charges65 | €390 | €26,409 | €27,678 | €34,634 | €926 | ▼ 97.3% |
| Non-recurring financial charges66B | €390 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€18,976 | -€119,927 | -€110,878 | -€124,926 | -€80,042 | ▲ 35.9% |
| Transfer from deferred taxes780 | - | €86,580 | - | - | - | - |
| Profit (loss) for the period9904 | -€18,976 | -€33,347 | -€110,878 | -€124,926 | -€80,042 | ▲ 35.9% |
| Transfer from tax-exempt reserves789 | - | €176,310 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€18,976 | €142,963 | -€110,878 | -€124,926 | -€80,042 | ▲ 35.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €959,486 | €931,316 | €929,977 | €868,465 | €824,630 | ▼ 5.0% |
| Fixed assets21/28 | €349,990 | €343,750 | €345,704 | €339,210 | €332,716 | ▼ 1.9% |
| Tangible fixed assets22/27 | €349,990 | €343,750 | €345,704 | €339,210 | €332,716 | ▼ 1.9% |
| Leasing and similar rights25 | €175,273 | €175,273 | €175,273 | €175,273 | €175,273 | = |
| Other tangible fixed assets26 | €174,717 | €168,477 | €170,432 | €163,937 | €157,443 | ▼ 4.0% |
| Current assets29/58 | €609,496 | €587,566 | €584,273 | €529,255 | €491,914 | ▼ 7.1% |
| Amounts receivable within one year40/41 | €6,731 | €1,010 | €26,747 | €36,216 | €31,417 | ▼ 13.3% |
| Trade receivables40 | €6,731 | €1,010 | €8,981 | €13,600 | €6,365 | ▼ 53.2% |
| Other amounts receivable41 | - | - | €17,766 | €22,616 | €25,052 | ▲ 10.8% |
| Cash at bank and in hand54/58 | €32,447 | €32,795 | €44,506 | €20,756 | €30,996 | ▲ 49.3% |
| Deferred charges and accrued income490/1 | €570,318 | €553,761 | €513,020 | €472,284 | €429,502 | ▼ 9.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €959,486 | €931,316 | €929,977 | €868,465 | €824,630 | ▼ 5.0% |
| Equity10/15 | €27,529 | -€5,818 | -€116,696 | -€241,622 | -€321,664 | ▼ 33.1% |
| Contributions10/11 | €38,600 | €38,600 | €38,600 | €38,600 | €38,600 | = |
| Reserves13 | €222,448 | €46,139 | €46,139 | €46,139 | €46,139 | = |
| Non-distributable reserves130/1 | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | - | - | - | - |
| Tax-exempt reserves132 | €176,310 | - | - | - | - | - |
| Distributable reserves133 | €44,279 | €44,279 | €46,139 | €46,139 | €46,139 | = |
| Profit (loss) carried forward14 | -€233,519 | -€90,556 | -€201,435 | -€326,361 | -€406,403 | ▼ 24.5% |
| Provisions and deferred taxes16 | €86,580 | - | - | - | - | - |
| Deferred taxes168 | €86,580 | - | - | - | - | - |
| Amounts payable17/49 | €845,376 | €937,134 | €1.0m | €1.1m | €1.1m | ▲ 3.3% |
| Amounts payable after more than one year17 | €845,213 | €907,870 | €1.0m | - | €1.1m | - |
| Other amounts payable178/9 | €845,213 | €907,870 | €1.0m | - | €1.1m | - |
| Amounts payable within one year42/48 | €75 | €29,139 | €35,506 | €1.1m | €36,697 | ▼ 96.7% |
| Trade debts44 | - | €23,976 | €26,136 | €32,865 | €32,250 | ▼ 1.9% |
| Suppliers440/4 | - | €23,976 | €26,136 | €32,865 | €32,250 | ▼ 1.9% |
| Other amounts payable47/48 | €75 | €5,163 | €9,370 | €1.1m | €4,448 | ▼ 99.6% |
| Accrued charges and deferred income492/3 | €89 | €124 | €145 | €493 | €65 | ▼ 86.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18,976 | -€33,347 | -€110,878 | -€124,926 | -€80,042 | ▲ 35.9% |
| + Depreciation and write-downs630 | €6,240 | €6,240 | €6,438 | €6,494 | €6,494 | = |
| Operating cash flow (approximation) | -€12,736 | -€27,107 | -€104,440 | -€118,432 | -€73,548 | ▲ 37.9% |
| Investment in fixed assets (approximation) | - | €0 | -€8,393 | €0 | €0 | - |
| Change in cash | - | €348 | €11,711 | -€23,750 | €10,240 | ▲ 143% |
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
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Liquidity times 28current ratio 13.40
Current ratio from 0.48 to 13.40; short-term debt falls from €1.1m to €36,697.
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity times 11412current ratio 8126.61
Current ratio from 0.71 to 8126.61; short-term debt falls from €840,289 to €75.
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €16,770
Net result €16,770 after 2 loss-making years.
21-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
10-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Hasselt · 1 establishment unit since 1979
Ground area
2,407 m²
Building footprint
1,027 m²
Parcel 71328D0534/00Z000, Flanders. Linked by address, not a title deed.
31
companies at this address
See who is registered here
1 establishment unit
Het Dorlik 16, 3500 Hasselt
since 19792.108.377.152
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71328D0534/00Z000 | Flanders | 2,407 m² | 1 · 1,027 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company
Founded20-12-1977
Fiscal year end31-12
Contact
Phone
011/280084
Scores and ratios are computed by Checked and are not a credit decision.