Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Busy address KBO
27 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
WHY5RESEARCH from Antwerpen, company number BE0893412362, closed financial year 2025 with a result of € 61,561 after tax. For that financial year WHY5RESEARCH recorded a gross margin of € 666,793 and equity of € 242,002. Compared with financial year 2024, the result moved from € 28,053 to € 61,561. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 25, 2026.
€ 242,002
▲ 25% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 61,561
▲ 119% vs 2024
Profit after tax over the fiscal year.
€ 496,475
▲ 93% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 145,335.
People and assets in 2025
8
▲ 0.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 580,154
▲ 17% vs 2024
€ 72,500 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 2,226
▼ 29% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 742,423
▲ 98% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 106,605
▲ 30% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 320,239 | € 450,954 | € 531,865 | € 666,793 | ▲ 25% |
| Profit after taxes | € -4,450 | € -12,366 | € 28,053 | € 61,561 | ▲ 119% |
| Equity | € 189,049 | € 176,683 | € 192,838 | € 242,002 | ▲ 25% |
| Total debts | € 413,427 | € 563,140 | € 601,169 | € 1,113,853 | ▲ 85% |
| Cash | € 255,088 | € 174,902 | € 257,684 | € 496,475 | ▲ 93% |
| Retained profit | € 92,382 | € 80,016 | € 96,171 | € 145,335 | ▲ 51% |
| Balance sheet total | € 602,476 | € 739,824 | € 794,007 | € 1,355,855 | ▲ 71% |
| Employees (FTE) | 6.1 | 7.3 | 7.3 | 8 | ▲ 0.7 |
Key figures of WHY5RESEARCH, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to WHY5RESEARCH?
What happened at WHY5RESEARCH in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- The Growth Squad BV stepped down as director. NBB
- Groen & Zo B.V. stepped down as director. NBB
- Invenio BV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 61,561 (▲ 119% vs 2024). Source: NBB ↗
- The Growth Squad BV became a director. NBB
- Groen & Zo B.V. became a director. NBB
- Invenio BV became a director. NBB
- New establishment in Brussel. KBO
In short
From € 4,450 loss in 2022 to € 61,561 profit in 2025.
Paid € 6,662 in corporate taxes since 2022.
Best year ever: 2025, with € 61,561 profit.
On average € 83,300 of value added per employee in 2025.
A new publication or filing at WHY5RESEARCH? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of Invenio, The Growth Squad comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
WHY5RESEARCHThe shares are held by Invenio (42.5%) and The Growth Squad (42%).
Directors
According to the 2025 annual accounts
Director · represented by Bart Vandecruys
since 2026 · until 2032
Groen & Zo B.V.
Director · represented by Réné Groen
since 2026 · until 2032
Director · represented by Tom Meere
since 2026 · until 2032
Shareholders
42.5%
42%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Posthofbrug 6-8 box 5/138
2600 Antwerpen
Bischoffsheimlaan 15
1000 Brussel
Active since 1 April 2024
Ottergemsesteenweg-Zuid 808
9000 Gent
Active since 1 April 2024
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 27 companies are registered at this address.
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What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0893.412.362
- VAT number
- BE 0893.412.362
- Registered office
- Posthofbrug 6-8 bus 5/138, 2600 Antwerpen
- Names & denominations
- WHY5RESEARCH
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 13 November 2007
- Peppol
- Active · Active since 17 Dec 2025
- Activities · NACE
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