DEVELOPING INITIATIVES
ActiveFinancials · financial year 2024, unclassified schema
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 5 November 2026.
Annual accounts 2024 filed on 18-09-2025 PDF all 24 filings
Turnover
€72,000
EBIT margin
-96.5%
Net result
€3.2m▲ 55×
2023 · €58,061
Working capital
€5.2m▲ 79.3%
2023 · €2.9m
In the rankings
#1 company by equity in Tubize, Professional and technical services sector#3 company by total assets in Tubize, Professional and technical services sector
Multi-year overview
2018 to 2024, 7 financial yearsTurnover
€72,000
2024
20182024
Operating result
-€69,475
▼ 1,808%
2024
20182024
Net result
€3.2m
▲ 55×
2024
20182024
EBIT margin
-96.5%
2024
20182024
Equity
€7.9m
▲ 42.8%
2024
20182024
Total assets
€7.9m
▲ 38.6%
2024
20182024
Debt
€16,975
▼ 90.6%
2024
20182024
Working capital
€5.2m
▲ 79.3%
2024
20182024
Solvency
99.8%
▲ 2.9pp
2024
20182024
Current ratio
no figure
2024
20182024
Return on assets (ROA)
40.0%
▲ 39.0pp
2024
20182024
Staff (FTE)
0.9
2024
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Turnover€0.07m
Operating result-€0.007m--€0.009m▼ 25.1%-€0.001m▲ 83.6%-€0.001m▲ 11.0%-€0.001m▲ 9.1%-€0.004m▼ 206%-€0.07m▼ 1,808%
Net result-€0.007m--€0.009m▼ 25.4%€0.3mabove the sector's middle half€3.2m▲ 11×€0.1m▼ 97.0%€0.06m▼ 40.0%€3.2m▲ 55×
EBIT margin-96.5%
Equity€0.003m-€2.6m▲ 792×€2.9mabove the sector's middle half▲ 10.9%€5.8m▲ 102%€5.8m▼ 0.1%€5.5m▼ 5.2%€7.9m▲ 42.8%
Total assets€0.006m-€2.6m▲ 463×€2.9mwithin the sector's middle half▲ 10.7%€5.8m▲ 102%€5.8m▼ 0.1%€5.7m▼ 2.1%€7.9m▲ 38.6%
Debt€0.002m-€0.007m▲ 213%€0.002m▼ 68.0%€167▼ 92.9%€167=€0.2m▲ 1,082×€0.02m▼ 90.6%
Working capital€0.003m--€0.006m€0.3mwithin the sector's middle half€3.2m▲ 12×€3.2m▼ 0.1%€2.9m▼ 9.4%€5.2m▲ 79.3%
Solvency58.3%-99.7%▲ 41.4pp99.9%above the sector's middle half▲ 0.2pp100.0%▲ 0.1pp100.0%=96.8%▼ 3.2pp99.8%▲ 2.9pp
Current ratio2.40-0.20▼ 2.2017.19
Return on assets (ROA)-129.8%--0.4%▲ 129.4pp9.8%within the sector's middle half▲ 10.2pp55.3%▲ 45.5pp1.7%▼ 53.7pp1.0%▼ 0.6pp40.0%▲ 39.0pp
Staff (FTE)0.9
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2024 is a loss of €69,475, larger than the loss of €3,641 in 2023. It is the lowest result since 2018.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €7.9m
Fixed assets
€2.7m ▲ 2.0%
Current assets
€5.3m ▲ 69.4%
Equity and liabilities €7.9m
Equity
€7.9m ▲ 42.8%
Debt
€16,975 ▼ 90.6%
Debt's share of the balance-sheet total falls from 3.2% to 0.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€61,593
Cash flow
€3.2m
Debt to equity
0.00▼
2023 · 0.03
ROE
40.1%▲
2023 · 1.0%
Interest coverage
-1432.40
Debt ≤ 1 year
€16,975▼
2023 · €180,635
Income taxes
€271
Customer credit
378 days
Supplier credit
16 days
Staff costs
€91,082
A ratio outside any meaningful range has been withheld (balance sheet total €7.9m, equity €7.9m).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2024 |
|---|---|
| Employees at the balance-sheet date | 1 |
| full-time | 1 |
| in full-time equivalents | 1 |
| Average over the year, in full-time equivalents | 0.9 |
| On a permanent contract | 1 |
| Joined | 12 |
| Left | 11 |
| Training hours | 19 |
Source: social balance sheet in the 2024 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €54,111 |
| Intangible fixed assets | - | - | - | €4,884 |
| Depreciation and write-downs of the year | - | - | - | €7,882 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €0.005m | - | €0.07m | - |
| Turnover70 | - | - | - | - | - | - | €0.07m | - |
| Other operating income74 | - | - | - | - | €0.005m | - | €0.002m | - |
| Operating charges60/66A | - | - | - | €0.001m | €0.007m | €0.004m | €0.1m | ▲ 40× |
| Services and other goods61 | - | - | - | €440 | €0.006m | €0.002m | €0.04m | ▲ 21× |
| Remuneration, social security and pensions62 | - | - | - | - | - | - | €0.09m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | - | - | €0.008m | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.001m | €0.002m | €0.001m | ▼ 12.3% |
| Gross operating margin9900 | -€0.007m | -€0.009m | -€0.001m | - | - | - | - | - |
| Operating profit (loss)9901 | -€0.007m | -€0.009m | -€0.001m | -€0.001m | -€0.001m | -€0.004m | -€0.07m | ▼ 1,808% |
| Financial income75/76B | - | - | - | €3.2m | €0.1m | €0.06m | €3.2m | ▲ 52× |
| Recurring financial income75 | - | - | €0.3m | €3.2m | €0.1m | €0.06m | €3.2m | ▲ 52× |
| Income from financial fixed assets750 | - | - | - | €3.2m | €0.1m | €0.06m | €3.2m | ▲ 52× |
| Income from current assets751 | - | - | - | €272 | €19 | €241 | €0.03m | ▲ 120× |
| Financial charges65/66B | - | - | - | €82 | €39 | €39 | €43 | ▲ 10.3% |
| Recurring financial charges65 | €145 | €206 | €232 | €82 | €39 | €39 | €43 | ▲ 10.3% |
| Other financial charges652/9 | - | - | - | €82 | €39 | €39 | €43 | ▲ 10.3% |
| Profit (loss) for the period before taxes9903 | -€0.007m | -€0.009m | €0.3m | €3.2m | €0.1m | €0.06m | €3.2m | ▲ 55× |
| Income taxes67/77 | - | - | - | - | - | - | €271 | - |
| Taxes670/3 | - | - | - | - | - | - | €271 | - |
| Profit (loss) for the period9904 | -€0.007m | -€0.009m | €0.3m | €3.2m | €0.1m | €0.06m | €3.2m | ▲ 55× |
| Profit (loss) for the period to be appropriated9905 | -€0.007m | -€0.009m | €0.3m | €3.2m | €0.1m | €0.06m | €3.2m | ▲ 55× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.006m | €2.6m | €2.9m | €5.8m | €5.8m | €5.7m | €7.9m | ▲ 38.6% |
| Fixed assets21/28 | - | €2.6m | €2.6m | €2.6m | €2.6m | €2.6m | €2.7m | ▲ 2.0% |
| Intangible fixed assets21 | - | - | - | - | - | - | €0.004m | - |
| Tangible fixed assets22/27 | - | - | - | - | - | - | €0.05m | - |
| Furniture and vehicles24 | - | - | - | - | - | - | €0.05m | - |
| Financial fixed assets28 | - | €2.6m | €2.6m | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Affiliated companies280/1 | - | - | - | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Participating interests280 | - | - | - | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Current assets29/58 | €0.006m | €0.001m | €0.3m | €3.2m | €3.2m | €3.1m | €5.3m | ▲ 69.4% |
| Amounts receivable within one year40/41 | €30 | - | €0.1m | €3.2m | €3.2m | €0.08m | €0.8m | ▲ 919% |
| Trade receivables40 | - | - | - | - | €0.005m | - | €0.07m | - |
| Other amounts receivable41 | - | - | - | €3.2m | €3.2m | €0.08m | €0.7m | ▲ 826% |
| Current investments50/53 | - | - | - | - | - | - | €1.0m | - |
| Other investments51/53 | - | - | - | - | - | - | €1.0m | - |
| Cash at bank and in hand54/58 | €0.006m | €0.001m | €0.2m | €0.02m | €0.007m | €3.0m | €3.4m | ▲ 13.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €0.006m | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.006m | €2.6m | €2.9m | €5.8m | €5.8m | €5.7m | €7.9m | ▲ 38.6% |
| Equity10/15 | €0.003m | €2.6m | €2.9m | €5.8m | €5.8m | €5.5m | €7.9m | ▲ 42.8% |
| Contributions10/11 | €0.02m | €2.6m | - | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | -€0.02m | -€0.03m | €0.3m | €3.2m | €3.2m | €2.9m | €5.3m | ▲ 81.6% |
| Amounts payable17/49 | €0.002m | €0.007m | €0.002m | €167 | €167 | €0.2m | €0.02m | ▼ 90.6% |
| Amounts payable within one year42/48 | €0.002m | €0.007m | €0.002m | €167 | €167 | €0.2m | €0.02m | ▼ 90.6% |
| Trade debts44 | - | - | - | - | - | - | €0.002m | - |
| Suppliers440/4 | - | - | - | - | - | - | €0.002m | - |
| Taxes, remuneration and social security45 | - | - | - | - | - | - | €0.01m | - |
| Taxes450/3 | - | - | - | - | - | - | €0.001m | - |
| Remuneration and social security454/9 | - | - | - | - | - | - | €0.01m | - |
| Other amounts payable47/48 | - | - | - | €167 | €167 | €0.2m | €0.001m | ▼ 99.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.007m | -€0.009m | €0.3m | €3.2m | €0.1m | €0.06m | €3.2m | ▲ 55× |
| + Depreciation and write-downs630 | - | - | - | - | - | - | €0.008m | - |
| Operating cash flow (approximation) | -€0.007m | -€0.009m | €0.3m | €3.2m | €0.1m | €0.06m | €3.2m | ▲ 55× |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | €0 | -€0.06m | - |
| Change in cash | - | -€0.004m | €0.2m | -€0.2m | -€0.009m | €3.0m | €0.4m | ▼ 86.3% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as DEVELOPING INITIATIVES has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DEVELOPING INITIATIVES itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for DEVELOPING INITIATIVES. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | unclassified schema | 18-09-2025 | 2025-00496232 | |
| 31-12-2023 | unclassified schema | 06-09-2024 | 2024-00455510 | |
| 31-12-2022 | unclassified schema | 22-11-2023 | 2023-00515817 | |
| 31-12-2021 | unclassified schema | 23-06-2022 | 2022-20090786 | |
| 31-12-2020 | full format | 22-06-2021 | 2021-22700282 | |
| 31-12-2019 | full format | 30-06-2020 | 2020-23400057 | |
| 31-12-2018 | full format | 18-06-2019 | 2019-19600049 | |
| 31-12-2017 | full format | 26-06-2018 | 2018-24100139 | |
| 31-12-2016 | full format | 23-06-2017 | 2017-20900146 | |
| 31-12-2015 | full format | 23-06-2016 | 2016-22000547 |