INITIO PROJECTS
ActiveSummary
INITIO PROJECTS has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6k and a net result of €-1k. Its solvency ranks better than 24% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability34▲+34
Solvency30▼-64
Growth58
Track record82
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity tight (current ratio 1.06 against 3.25 in 2024; short-term debt: 94.5% and cash: 10.9% of total assets), and 94.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
5.5%
Return on assets
-1.2%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 9234 sector peers (2025).
NBB · sector comparisonPosition among 9234 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-07-2026, 25 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
25 d early
2024
17 d early
← 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
€6k▼ 18.2%
2024 · €8k
2024: €8k
2025: €6k▼ -18.2% vs 2024
2024 → 2025
Total assets
€115k▲ 939%
2024 · €11k
2024: €11k
2025: €115k▲ +939% vs 2024
2024 → 2025
Net result
€-1k▲ 40.6%
2024 · €-2k
2024: €-2k
2025: €-1k▲ +40.6% vs 2024
2024 → 2025
Working capital
€6k▼ 18.0%
2024 · €8k
2024: €8k
2025: €6k▼ -18.0% vs 2024
2024 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20242025Trend
Equity€8k-€6k▼ 18.2%
2024: €8k
2025: €6k▼ -18.2% vs 2024
Operating result€-2k-€-684▲ 62.4%
2024: €-2k
2025: €-684▲ +62.4% vs 2024
Net result€-2k-€-1k▲ 40.6%
2024: €-2k
2025: €-1k▲ +40.6% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €684 in 2025 against €2k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €115k
Equity
€6k ▼ 18.2%
Debt
€109k ▲ 3,096%
Debt's share of the balance-sheet total rises from 30.7% to 94.5%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
1.06▼
2024 · 3.25
Quick ratio
0.27▼
2024 · 1.14
Debt to equity
17.33▲
2024 · 0.44
ROE
-22.2%▲
2024 · -30.5%
ROA
-1.2%▲
2024 · -21.2%
Debt ≤ 1 year
€109k▲
2024 · €3k
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 · 27 lines
Balance sheet
Code20242025
Assets
Total assets20/58€11k€115k▲
Current assets29/58€11k€115k▲
Stocks and contracts in progress3€7k€86k▲
Stocks30/36€7k€86k▲
Amounts receivable within one year40/41€1k€16k▲
Other amounts receivable41€1k€16k▲
Cash at bank and in hand54/58€3k€12k▲
Equity and liabilities
Total equity and liabilities10/49€11k€115k▲
Equity10/15€8k€6k▼
Contributions10/11€10k€10k=
Profit (loss) carried forward14€-2k€-4k▼
Amounts payable17/49€3k€109k▲
Amounts payable within one year42/48€3k€109k▲
Trade debts44€3k€43k▲
Suppliers440/4€3k€43k▲
Other amounts payable47/48-€65k
Accrued charges and deferred income492/3-€8
Income statement
Code20242025
Other operating charges640/8€387€549▲
Gross operating margin9900€-1k€-135▲
Operating profit (loss)9901€-2k€-684▲
Financial charges65/66B€517€706▲
Recurring financial charges65€517€706▲
Profit (loss) for the period before taxes9903€-2k€-1k▲
Profit (loss) for the period9904€-2k€-1k▲
Profit (loss) for the period to be appropriated9905€-2k€-1k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-2k€-4k▼
Profit (loss) brought forward from the previous period14P-€-2k
The notes to these accounts (1 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Other operating charges640/8 | €387 | €549 | ▲ 41.8% |
| Gross operating margin9900 | €-1k | €-135 | ▲ 90.6% |
| Operating profit (loss)9901 | €-2k | €-684 | ▲ 62.4% |
| Financial charges65/66B | €517 | €706 | ▲ 36.4% |
| Recurring financial charges65 | €517 | €706 | ▲ 36.4% |
| Profit (loss) for the period before taxes9903 | €-2k | €-1k | ▲ 40.6% |
| Profit (loss) for the period9904 | €-2k | €-1k | ▲ 40.6% |
| Profit (loss) for the period to be appropriated9905 | €-2k | €-1k | ▲ 40.6% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €11k | €115k | ▲ 939% |
| Current assets29/58 | €11k | €115k | ▲ 939% |
| Stocks and contracts in progress3 | €7k | €86k | ▲ 1,094% |
| Stocks30/36 | €7k | €86k | ▲ 1,094% |
| Amounts receivable within one year40/41 | €1k | €16k | ▲ 1,397% |
| Other amounts receivable41 | €1k | €16k | ▲ 1,397% |
| Cash at bank and in hand54/58 | €3k | €12k | ▲ 353% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €11k | €115k | ▲ 939% |
| Equity10/15 | €8k | €6k | ▼ 18.2% |
| Contributions10/11 | €10k | €10k | = |
| Profit (loss) carried forward14 | €-2k | €-4k | ▼ 59.4% |
| Amounts payable17/49 | €3k | €109k | ▲ 3,096% |
| Amounts payable within one year42/48 | €3k | €109k | ▲ 3,096% |
| Trade debts44 | €3k | €43k | ▲ 1,174% |
| Suppliers440/4 | €3k | €43k | ▲ 1,174% |
| Other amounts payable47/48 | - | €65k | - |
| Accrued charges and deferred income492/3 | - | €8 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €-2k | €-1k | ▲ 40.6% |
| Operating cash flow (approximation) | €-2k | €-1k | ▲ 40.6% |
| Change in cash | - | €10k | - |
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
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
NBB filing
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Hasselt · 1 establishment unit since 2024
Ground area
2,407 m²
Building footprint
1,027 m²
Parcel 71328D0534/00Z000, Flanders. Linked by address, not a title deed.
31
companies at this address
See who is registered here
1 establishment unit
INITIO PROJECTS
since 20242.357.660.323
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71328D0534/00Z000 | Flanders | 2,407 m² | 1 · 1,027 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.
Similar companies · same sector, comparable size
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Arch & Plus
BE 0785.666.445
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Irys Invest
BE 0738.885.622
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HDOffice
BE 1001.146.797
Dilbeek · Eq €6,249
Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 2,506 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
Founded20-02-2024
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
Scores and ratios are computed by Checked and are not a credit decision.