Summary
FT INITIALS is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €87k and a net result of €-12k. Equity is shrinking by ~3.7% per year across the filed fiscal years. Its solvency ranks better than 52% of 1482 sector peers (fiscal year 2025). The company has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
29 d late
2023
27 d late
2022
30 d late
2021
31 d late
2020
31 d late
2019
131 d late
← 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€87k▼ 12.0%
2024 · €99k
2018: €109k
2019: €114k▲ +3.9% vs 2018
2020: €136k▲ +19.8% vs 2019highest in 8 years
2021: €111k▼ -18.5% vs 2020
2022: €100k▼ -9.4% vs 2021
2023: €102k▲ +1.9% vs 2022
2024: €99k▼ -3.5% vs 2023
2025: €87k▼ -12.0% vs 2024lowest in 8 years
2018 → 2025
Net result
€-12k
2024 · €377
2018: €-3k
2019: €5k▲ +304% vs 2018
2020: €24k▲ +345% vs 2019highest in 8 years
2021: €-23k▼ -196% vs 2020lowest in 8 years
2022: €-10k▲ +54.5% vs 2021
2023: €2k▲ +118% vs 2022
2024: €377▼ -79.7% vs 2023
2025: €-12k▼ -3238% vs 2024
2018 → 2025
Total assets
€209k▼ 17.9%
2024 · €255k
2018: €512khighest in 8 years
2019: €463k▼ -9.6% vs 2018
2020: €468k▲ +1.0% vs 2019
2021: €388k▼ -17.2% vs 2020
2022: €330k▼ -15.0% vs 2021
2023: €300k▼ -9.0% vs 2022
2024: €255k▼ -15.0% vs 2023
2025: €209k▼ -17.9% vs 2024lowest in 8 years
2018 → 2025
Solvency
41.5%▲ 2.8pp
2024 · 38.7%
2018: 21.3%lowest in 8 years
2019: 24.5%▲ +14.9% vs 2018
2020: 29.1%▲ +18.6% vs 2019
2021: 28.6%▼ -1.7% vs 2020
2022: 30.5%▲ +6.6% vs 2021
2023: 34.1%▲ +12.0% vs 2022
2024: 38.7%▲ +13.5% vs 2023
2025: 41.5%▲ +7.2% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€111k-€100k▼ 9.4%€102k▲ 1.9%€99k▼ 3.5%€87k▼ 12.0%
2021: €111khighest in 5 years
2022: €100k▼ -9.4% vs 2021
2023: €102k▲ +1.9% vs 2022
2024: €99k▼ -3.5% vs 2023
2025: €87k▼ -12.0% vs 2024lowest in 5 years
Operating result€-23k-€-7k▲ 70.1%€6k€4k▼ 36.1%€-7k
2021: €-23klowest in 5 years
2022: €-7k▲ +70.1% vs 2021
2023: €6k▲ +189% vs 2022highest in 5 years
2024: €4k▼ -36.1% vs 2023
2025: €-7k▼ -283% vs 2024
Net result€-23k-€-10k▲ 54.5%€2k€377▼ 79.7%€-12k
2021: €-23klowest in 5 years
2022: €-10k▲ +54.5% vs 2021
2023: €2k▲ +118% vs 2022highest in 5 years
2024: €377▼ -79.7% vs 2023
2025: €-12k▼ -3238% vs 2024
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €7k after €4k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €209k
Fixed assets
€192k ▼ 13.4%
Current assets
€17k ▼ 48.5%
Equity and liabilities €209k
Equity
€87k ▼ 12.0%
Debt
€122k ▼ 21.7%
Debt's share of the balance-sheet total falls from 61.3% to 58.5%. Equity and debt are lower.
Key figures and ratios
ROE
-13.6%▼
2024 · 0.4%
ROA
-5.7%▼
2024 · 0.1%
Debt ≤ 1 year
€39k▼
2024 · €50k
Debt > 1 year
€83k▼
2024 · €106k
Income taxes
€158▼
2024 · €159
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€255k€209k▼
Fixed assets21/28€222k€192k▼
Tangible fixed assets22/27€184k€155k▼
Land and buildings22€71k€54k▼
Plant, machinery and equipment23€105k€99k▼
Furniture and vehicles24€8k€2k▼
Other tangible fixed assets26€0-
Financial fixed assets28€38k€38k=
Current assets29/58€33k€17k▼
Amounts receivable within one year40/41€25k€9k▼
Trade receivables40€2k€3k▲
Other amounts receivable41€22k€6k▼
Cash at bank and in hand54/58€4k€4k▲
Deferred charges and accrued income490/1€5k€4k▼
Equity and liabilities
Total equity and liabilities10/49€255k€209k▼
Equity10/15€99k€87k▼
Contributions10/11€92k€92k=
Reserves13€25k€25k=
Distributable reserves133€25k€25k=
Profit (loss) carried forward14€-18k€-30k▼
Amounts payable17/49€156k€122k▼
Amounts payable after more than one year17€106k€83k▼
Financial debts170/4€106k€83k▼
Amounts payable within one year42/48€50k€39k▼
Current portion of amounts payable after more than one year42€39k€23k▼
Trade debts44€6k€7k▲
Suppliers440/4€6k€7k▲
Taxes, remuneration and social security45€475€156▼
Taxes450/3€475€156▼
Other amounts payable47/48€4k€9k▲
Accrued charges and deferred income492/3€0€69▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€30k€30k▼
Other operating charges640/8€3k€4k▲
Gross operating margin9900€38k€27k▼
Operating profit (loss)9901€4k€-7k▼
Financial income75/76B€1k€88▼
Recurring financial income75€1k€88▼
Financial charges65/66B€5k€5k▼
Recurring financial charges65€5k€5k▼
Profit (loss) for the period before taxes9903€536€-12k▼
Income taxes67/77€159€158▼
Profit (loss) for the period9904€377€-12k▼
Profit (loss) for the period to be appropriated9905€377€-12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-18k€-30k▼
Profit (loss) brought forward from the previous period14P€-18k€-18k▲
Transfer from equity791/2€4k€0▼
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€4k€0▼
Return on contributions (dividend)694€4k€0▼
The notes to these accounts (20 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31k | €30k | €33k | €30k | €30k | ▼ 1.6% |
| Other operating charges640/8 | €12k | €3k | €4k | €3k | €4k | ▲ 20.7% |
| Gross operating margin9900 | €19k | €26k | €43k | €38k | €27k | ▼ 28.8% |
| Operating profit (loss)9901 | €-23k | €-7k | €6k | €4k | €-7k | ▼ 283% |
| Financial income75/76B | €5k | €3k | €2k | €1k | €88 | ▼ 93.5% |
| Recurring financial income75 | €5k | €3k | €2k | €1k | €88 | ▼ 93.5% |
| Financial charges65/66B | €7k | €6k | €6k | €5k | €5k | ▼ 2.5% |
| Recurring financial charges65 | €7k | €6k | €6k | €5k | €5k | ▼ 2.5% |
| Profit (loss) for the period before taxes9903 | €-25k | €-10k | €2k | €536 | €-12k | ▼ 2,278% |
| Transfer from deferred taxes780 | €2k | €0 | - | - | - | - |
| Income taxes67/77 | €179 | €193 | €320 | €159 | €158 | ▼ 0.4% |
| Profit (loss) for the period9904 | €-23k | €-10k | €2k | €377 | €-12k | ▼ 3,238% |
| Profit (loss) for the period to be appropriated9905 | €-23k | €-10k | €2k | €377 | €-12k | ▼ 3,238% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €388k | €330k | €300k | €255k | €209k | ▼ 17.9% |
| Fixed assets21/28 | €298k | €268k | €252k | €222k | €192k | ▼ 13.4% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €260k | €230k | €214k | €184k | €155k | ▼ 16.1% |
| Land and buildings22 | €123k | €105k | €88k | €71k | €54k | ▼ 24.1% |
| Plant, machinery and equipment23 | €135k | €123k | €112k | €105k | €99k | ▼ 6.3% |
| Furniture and vehicles24 | €3k | €1k | €14k | €8k | €2k | ▼ 75.8% |
| Other tangible fixed assets26 | €274 | €182 | €91 | €0 | - | - |
| Financial fixed assets28 | €38k | €38k | €38k | €38k | €38k | = |
| Current assets29/58 | €90k | €62k | €48k | €33k | €17k | ▼ 48.5% |
| Amounts receivable within one year40/41 | €55k | €46k | €37k | €25k | €9k | ▼ 64.6% |
| Trade receivables40 | €4k | €4k | €787 | €2k | €3k | ▲ 14.4% |
| Other amounts receivable41 | €52k | €43k | €37k | €22k | €6k | ▼ 72.4% |
| Cash at bank and in hand54/58 | €29k | €12k | €7k | €4k | €4k | ▲ 15.4% |
| Deferred charges and accrued income490/1 | €5k | €3k | €4k | €5k | €4k | ▼ 11.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €388k | €330k | €300k | €255k | €209k | ▼ 17.9% |
| Equity10/15 | €111k | €100k | €102k | €99k | €87k | ▼ 12.0% |
| Contributions10/11 | €92k | €92k | €92k | €92k | €92k | = |
| Reserves13 | €27k | €27k | €29k | €25k | €25k | = |
| Non-distributable reserves130/1 | €3k | €3k | €0 | - | - | - |
| Financial assistance1313 | €3k | €3k | €0 | - | - | - |
| Distributable reserves133 | €24k | €24k | €29k | €25k | €25k | = |
| Profit (loss) carried forward14 | €-8k | €-19k | €-18k | €-18k | €-30k | ▼ 65.4% |
| Investment grants15 | €0 | - | - | - | - | - |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - |
| Deferred taxes168 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €277k | €229k | €198k | €156k | €122k | ▼ 21.7% |
| Amounts payable after more than one year17 | €222k | €184k | €145k | €106k | €83k | ▼ 21.7% |
| Financial debts170/4 | €222k | €184k | €145k | €106k | €83k | ▼ 21.7% |
| Amounts payable within one year42/48 | €55k | €45k | €52k | €50k | €39k | ▼ 21.6% |
| Current portion of amounts payable after more than one year42 | €38k | €38k | €39k | €39k | €23k | ▼ 41.6% |
| Trade debts44 | €1k | €4k | €12k | €6k | €7k | ▲ 16.5% |
| Suppliers440/4 | €1k | €4k | €12k | €6k | €7k | ▲ 16.5% |
| Taxes, remuneration and social security45 | €15k | €3k | €513 | €475 | €156 | ▼ 67.1% |
| Taxes450/3 | €15k | €3k | €513 | €475 | €156 | ▼ 67.1% |
| Other amounts payable47/48 | €404 | €0 | - | €4k | €9k | ▲ 120% |
| Accrued charges and deferred income492/3 | - | - | €715 | €0 | €69 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-23k | €-10k | €2k | €377 | €-12k | ▼ 3,238% |
| + Depreciation and write-downs630 | €31k | €30k | €33k | €30k | €30k | ▼ 1.6% |
| Operating cash flow (approximation) | €8k | €20k | €35k | €31k | €18k | ▼ 41.5% |
| Investment in fixed assets (approximation) | - | €0 | €-18k | €0 | €0 | - |
| Change in cash | - | €-17k | €-6k | €-3k | €552 | ▲ 118% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 27 days late
2023
31-12
Financial
Back to profitnet €2k
Net result €2k after 2 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 30 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Weakest financial yearnet €-23k
Net result drops to €-23k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Highest result since 2018net €24k ▲345%
Operating result €38k, net result €24k, both a record.
09-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 131 days late
2019
31-12
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
15-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 76 days late
2018
25-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 86 days late
22-03
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 234 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
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, La Bruyère · 1 establishment unit since 2002
Ground area
2,598 m²
Building footprint
151 m²
Parcel 92036B0080/00Z000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue Trieux-des-Gouttes, Emines 47, 5080 La Bruyère
since 20022.099.071.387
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92036B0080/00Z000 | Wallonia | 2,598 m² | 1 · 151 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.
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Of 4,677 companies in sector 66220 we hold annual accounts for 3,221. 2,642 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
Founded29-03-2002
Fiscal year end31-12
Activities, NACEBEL 2025
66220Insurance agents and brokers
66199Other activities auxiliary to financial services, excluding insurance and pension funding
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
70200Business and other management consultancy
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.