WHY NOT ? RACING
ActiveFor WHY NOT ? RACING, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show equity of €44k and a net result of €-20k. Equity is shrinking by ~25.2% per year across the filed fiscal years. Its solvency ranks better than 74% of 482 sector peers (fiscal year 2023). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability65▲+16
Solvency87▼-13
Growth22=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 2023Solvency, return and age of the figures
Solvency
61.7%
Return on assets
-27.8%
Age of the figures
42 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 93
Relative position
BE, all sectors
reference
Sector 93
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-03-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 4 filingsPosition against the passed deadline
31-03-2024 close31-10-2024 deadline21-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2023 was due by 31-10-2023 and was filed on 06-10-2023, 25 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
25 d early
2022
10 d early
2021
3 d early
2020
16 d late
← before the deadline
after the deadline →
Financials · fiscal year 2023, full schema
Turnover
€19k▼ 52.1%
2022 · €40k
2020: €134k
2021: €69k
2022: €40k
2020 → 2023
EBIT margin
-91.9%▼ 28.9pp
2022 · -63.0%
2020: 12.2%
2021: 15.0%
2022: -63.0%
2020 → 2023
Net result
€-20k▲ 30.1%
2022 · €-28k
2020: €16k
2021: €9k
2022: €-28k
2020 → 2023
Working capital
€-18k
2022 · €10k
2020: €2k
2021: €13k
2022: €10k
2020 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2020202120222023Trend
Turnover€134k-€69k▼ 48.9%€40k▼ 42.0%€19k▼ 52.1%
Equity€83k-€92k▲ 10.3%€63k▼ 30.8%€44k▼ 31.1%
Operating result€16k-€10k▼ 37.3%€-25k€-18k▲ 30.2%
Net result€16k-€9k▼ 47.1%€-28k€-20k▲ 30.1%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €18k in 2023 against €25k in 2022; the loss shrinks.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €71k
Fixed assets
€61k▲ 14.5%
Current assets
€9k▼ 63.7%
Equity and liabilities €71k
Equity
€44k▼ 31.1%
Debt
€27k▲ 66.2%
The debt ratio rises from 20.5% to 38.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€12k▲
2022 · €8k
Cash flow
€10k▲
2022 · €5k
Solvency
61.7%▼
2022 · 79.5%
Current ratio
0.35▼
2022 · 1.60
Quick ratio
0.35▼
2022 · 1.60
Debt / equity
0.62▲
2022 · 0.26
ROE
-45.1%▼
2022 · -44.4%
ROA
-27.8%▲
2022 · -35.3%
Interest coverage
5.74▲
2022 · 2.75
Debt
€27k▲
2022 · €16k
Debt ≤ 1 year
€27k▲
2022 · €16k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2023 against 2022
Balance sheet
Code20222023
Assets
Total assets20/58€80k€71k▼
Fixed assets21/28€54k€61k▲
Tangible fixed assets22/27€51k€58k▲
Plant, machinery and equipment23€876€439▼
Furniture and vehicles24€50k€58k▲
Financial fixed assets28€3k€3k=
Current assets29/58€26k€9k▼
Amounts receivable within one year40/41€14k€9k▼
Trade receivables40€13k€1k▼
Other amounts receivable41€884€8k▲
Cash at bank and in hand54/58€12k€662▼
Equity and liabilities
Total equity and liabilities10/49€80k€71k▼
Equity10/15€63k€44k▼
Profit (loss) carried forward14€63k€44k▼
Amounts payable17/49€16k€27k▲
Amounts payable within one year42/48€16k€27k▲
Trade debts44€4k€2k▼
Suppliers440/4€4k€2k▼
Income statement
Code20222023
Turnover70€40k€19k▼
Non-recurring operating income76A€41k€34k▼
Goods, raw materials, services and sundry goods60/61€72k€41k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€33k€30k▼
Other operating charges640/8€673€145▼
Gross operating margin9900€9k€12k▲
Operating profit (loss)9901€-25k€-18k▲
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€-28k€-20k▲
Profit (loss) for the period9904€-28k€-20k▲
Profit (loss) for the period to be appropriated9905€-28k€-20k▲
Appropriation of the result
Profit (loss) to be appropriated9906€63k€44k▼
Profit (loss) brought forward from the previous period14P€92k€63k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2023
06-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
21-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
31-03
Financial
Weakest financial yearnet €-28k ▼428%
Net result drops to €-28k, the lowest in the series; recovery starts the following year.
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
31-03
Financial
Liquidity times 6current ratio 7.01
Current ratio from 1.25 to 7.01; short-term debt falls from €9k to €2k.
2020
16-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Rumes
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Chaussée Montgomery(LG) 637611 RumesGround area
236 m²
Building footprint
123 m²
Volume, LiDAR
761 m³
Parcel 57043D0817/00E002, Wallonia · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57043D0817/00E002indicative | Wallonia | 236 m² | 1 · 123 m² | 8.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 636 companies in sector 93123 we hold annual accounts for 78. 44 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formNon-profit association
Founded08-12-2017
Fiscal year end31-03
Activities, NACEBEL
93123Sports, amusement and recreation activities
73110Advertising agencies
93199Other sports activities
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.