INITIALS B.B.
ActiveSummary
INITIALS B.B. has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €336k and a net result of €69k. Equity is growing by ~17.5% per year across the filed fiscal years. Its solvency ranks better than 66% of 2003 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability86▲+73
Solvency92=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 3.58 against 5.67 in 2024; short-term debt: 13.5% and cash: 3.1% of total assets), and 32.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
67.5%
Return on assets
13.8%
Age of the figures
15 mo
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 28-02-2026, 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
9 d early
2023
44 d early
2022
16 d late
2021
32 d late
2020
32 d late
2019
26 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€69k
2024 · €-22k
Working capital
€173k▲ 19.8%
2024 · €145k
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€152k▲ 188%€88k▼ 41.9%€119k▲ 34.7%€-16k€109k
Net result€70k▲ 64.1%€54k▼ 23.6%€69k▲ 29.2%€-22k€69k
Equity€226k▲ 45.0%€280k▲ 23.7%€319k▲ 14.0%€297k▼ 6.7%€336k▲ 13.1%
Total assets€481k▲ 17.7%€492k▲ 2.3%€551k▲ 12.0%€445k▼ 19.1%€498k▲ 11.9%
Debt€255k▲ 0.9%€212k▼ 16.7%€232k▲ 9.2%€148k▼ 36.2%€162k▲ 9.5%
Working capital€104k▲ 103%€147k▲ 41.3%€175k▲ 19.1%€145k▼ 17.3%€173k▲ 19.8%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €109k after a loss of €16k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €498k
Fixed assets
€258k ▼ 4.3%
Current assets
€240k ▲ 36.8%
Equity and liabilities €498k
Equity
€336k ▲ 13.1%
Debt
€162k ▲ 9.5%
Debt's share of the balance-sheet total falls from 33.2% to 32.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€121k▲
2024 · €-4k
Cash flow
€81k▲
2024 · €-9k
Current ratio
3.58▼
2024 · 5.67
Quick ratio
3.50▼
2024 · 5.49
Debt to equity
0.48▼
2024 · 0.50
ROE
20.5%▲
2024 · -7.2%
ROA
13.8%▲
2024 · -4.8%
Interest coverage
25.03▲
2024 · -0.72
Debt ≤ 1 year
€67k▲
2024 · €31k
Debt > 1 year
€95k▼
2024 · €117k
Income taxes
€35k▲
2024 · €-297
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12k | €12k | €12k | €12k | €12k | ▼ 1.4% |
| Other operating charges640/8 | - | €3k | €3k | €3k | €3k | ▲ 8.4% |
| Non-recurring operating charges66A | - | - | €894 | €662 | €251 | ▼ 62.0% |
| Gross operating margin9900 | €170k | €104k | €135k | €-764 | €124k | ▲ 16,303% |
| Operating profit (loss)9901 | €152k | €88k | €119k | €-16k | €109k | ▲ 760% |
| Financial income75/76B | - | €0 | €47 | €292 | €171 | ▼ 41.4% |
| Recurring financial income75 | €0 | €0 | €47 | €292 | €171 | ▼ 41.4% |
| Financial charges65/66B | - | €7k | €6k | €6k | €5k | ▼ 14.6% |
| Recurring financial charges65 | €8k | €7k | €6k | €6k | €5k | ▼ 14.6% |
| Profit (loss) for the period before taxes9903 | €144k | €81k | €113k | €-22k | €104k | ▲ 577% |
| Income taxes67/77 | €74k | €28k | €43k | €-297 | €35k | ▲ 11,915% |
| Profit (loss) for the period9904 | €70k | €54k | €69k | €-22k | €69k | ▲ 420% |
| Profit (loss) for the period to be appropriated9905 | €70k | €54k | €69k | €-22k | €69k | ▲ 420% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €481k | €492k | €551k | €445k | €498k | ▲ 11.9% |
| Fixed assets21/28 | €300k | €291k | €282k | €270k | €258k | ▼ 4.3% |
| Tangible fixed assets22/27 | €300k | €291k | €282k | €270k | €258k | ▼ 4.3% |
| Land and buildings22 | - | €286k | €277k | €267k | €256k | ▼ 4.0% |
| Furniture and vehicles24 | - | €5k | €5k | €3k | €2k | ▼ 35.6% |
| Current assets29/58 | €181k | €200k | €269k | €175k | €240k | ▲ 36.8% |
| Stocks and contracts in progress3 | €6k | €6k | €9k | €6k | €6k | ▼ 2.3% |
| Stocks30/36 | - | €6k | €9k | €6k | €6k | ▼ 2.3% |
| Amounts receivable within one year40/41 | €106k | €97k | €226k | €135k | €219k | ▲ 62.6% |
| Trade receivables40 | - | €26k | €117k | €28k | €108k | ▲ 285% |
| Other amounts receivable41 | - | €72k | €110k | €107k | €111k | ▲ 4.0% |
| Cash at bank and in hand54/58 | €69k | €96k | €33k | €35k | €15k | ▼ 56.2% |
| Deferred charges and accrued income490/1 | - | €636 | €60 | €63 | €87 | ▲ 39.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €481k | €492k | €551k | €445k | €498k | ▲ 11.9% |
| Equity10/15 | €226k | €280k | €319k | €297k | €336k | ▲ 13.1% |
| Contributions10/11 | - | €12k | €12k | €12k | €12k | = |
| Reserves13 | €182k | €232k | €252k | €252k | €272k | ▲ 7.9% |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Tax-exempt reserves132 | - | €35k | €35k | €35k | €35k | = |
| Distributable reserves133 | - | €195k | €215k | €217k | €237k | ▲ 9.2% |
| Profit (loss) carried forward14 | €32k | €35k | €55k | €33k | €52k | ▲ 57.0% |
| Amounts payable17/49 | €255k | €212k | €232k | €148k | €162k | ▲ 9.5% |
| Amounts payable after more than one year17 | €178k | €158k | €138k | €117k | €95k | ▼ 18.8% |
| Financial debts170/4 | - | €158k | €138k | €117k | €95k | ▼ 18.8% |
| Amounts payable within one year42/48 | €77k | €54k | €94k | €31k | €67k | ▲ 117% |
| Current portion of amounts payable after more than one year42 | - | €21k | €22k | €23k | €24k | ▲ 3.8% |
| Trade debts44 | €10k | €7k | €4k | €4k | €6k | ▲ 31.6% |
| Suppliers440/4 | - | €7k | €4k | €4k | €6k | ▲ 31.6% |
| Taxes, remuneration and social security45 | - | €25k | €38k | €4k | €38k | ▲ 902% |
| Taxes450/3 | - | €25k | €38k | €750 | €38k | ▲ 4,909% |
| Remuneration and social security454/9 | - | - | - | €3k | - | - |
| Other amounts payable47/48 | - | - | €30k | - | - | - |
| Accrued charges and deferred income492/3 | - | €451 | €158 | €112 | €64 | ▼ 43.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €70k | €54k | €69k | €-22k | €69k | ▲ 420% |
| + Depreciation and write-downs630 | €12k | €12k | €12k | €12k | €12k | ▼ 1.4% |
| Operating cash flow (approximation) | €82k | €65k | €82k | €-9k | €81k | ▲ 989% |
| Investment in fixed assets (approximation) | - | €-3k | €-3k | €0 | €-487 | - |
| Change in cash | - | €27k | €-64k | €2k | €-20k | ▼ 965% |
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
28-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
30-06
Financial
Back to profitnet €69k
Net result €69k after one loss-making year.
22-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Weakest financial yearnet €-22k
Net result drops to €-22k, the lowest in the series; recovery starts the following year.
2023
18-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
16-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 16 days late
2022
04-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 32 days late
2021
30-06
Financial
Highest result since 2019net €70k ▲64.1%
Operating result €152k, net result €70k, both a record.
30-06
Financial
Equity above €200kEq €226k ▲45%
2 profitable years in a row build equity to €226k.
04-03
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 32 days late
2020
30-06
Financial
Back to profitnet €43k
Net result €43k after one loss-making year.
30-06
Financial
Equity above €150kEq €156k ▲18.2%
Equity rises from €132k to €156k.
Show earlier events
26-02
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 26 days late
2019
28-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
01-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 1 day late
2017
15-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 15 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Elsene · 1 establishment unit since 2009
Ground area
224 m²
Building footprint
233 m²
Volume, LiDAR
2,570 m³
2 parcels, Brussels · tallest building 17.8 m, ±5 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
INITIALS B.B. SPRL
since 20092.178.911.097
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21009A1072/00D003 | Brussels | 129 m² | 1 · 77 m² | 17.8 m · 5 fl. |
| 21009A0919/00R000 | Brussels | 95 m² | 1 · 156 m² | 16.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 6,652 companies in sector 90111 we hold annual accounts for 384. 210 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
Founded01-04-2009
Fiscal year end30-06
Activities, NACEBEL 2025
90111Literary creation
Scores and ratios are computed by Checked and are not a credit decision.