Losses
-€3,730 in two years
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
INITIO PROJECTS
Lifetime
2 annual accounts with figures on one time axispeak -€135 (2025)
-€135▲ €1,300
lowest -€2,340 (2024)
-€1,390▲ €950
peak €7,660 (2024)
€6,270▼ 18.2%
€108,661▲ 32×
Board5 names since 2024
5 directorsM-Projects and 4 others
Owners3 names in the annual accounts
40%SOM BEHEERSMAATSCHAPPIJ and 2 others
Documentsfilings and deeds
06-07-202625 days before the deadline
2025abbreviated format
Gross margin from -€1,435 to -€135Loss of €1,390Equity from €7,660 to €6,270Debts from €3,400 to €108,661Cash from €2,760 to €12,490
Key points
from the 2025 annual accountsDebts
€108,661 95% of the balance sheet
After one year 0%Within one year 100%
Of this, €108,652 falls due within a year.
Liquidity
1.06 was 3.25 in 2024
Short-term debts rose from €3,400 to €108,652.
Starting capital
€10,000 10 shares
At the same address
31 companies
Position in the sector
€6,270
Less equity than 81% of companies in real estate. Sector median €300,201 · 11,304 companies.
Turnover not published (abbreviated format)
Checked score
68
Healthy
Financially stronger than 23% of micro companies in real estate (NACE 68)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,625 companies (NACE 68, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
03-2025: 0.7%
04-2025: 0.7%● unchanged vs 03-2025
05-2025: 0.7%● unchanged vs 04-2025
06-2025: 0.7%● unchanged vs 05-2025
07-2025: 0.8%▲ +0.1 percentage points vs 06-2025highest value
08-2025: 0.1%▼ -0.7 percentage points vs 07-2025lowest value
09-2025: 0.1%● unchanged vs 08-2025lowest value
10-2025: 0.2%▲ +0.1 percentage points vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.6%▲ +0.4 percentage points vs 07-2026
09-2026: 0.6%● unchanged vs 08-2026
10-2026: 0.6%● unchanged vs 09-2026
11-2026: 0.6%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Founded in 2024
Equity €6,270 (5.5% of total assets)
lowers risk
Sector: Real estate activities (NACE 68)
Size: total assets €114,930
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 26% of them on solvency, 13% on liquidity, 30% on profitability and 22% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,301 companies had the same profile as INITIO PROJECTS has now. Each dot stands for 4 companies, two years later.
92.6%
were still trading
1.6%
stopped another way
5.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of INITIO PROJECTS itself is lower: 0.6% within 12 months. It rests on far more data about INITIO PROJECTS than the profile alone.
Test of the method
The method was tested on the 497,447 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 1,301 companies, not a prediction for INITIO PROJECTS. 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.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 11299 sector peers (2025).
NBB · sector comparisonPosition among 11299 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 days early
2024
17 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 21 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
IC
I&P CONSULTING bv
Director, since 10-12-2024
SI
S.I.M.C. nv
Director, since 10-12-2024
- SOM BEHEERSMAATSCHAPPIJ 40%score 91equity €7.5m (2025) · annual accounts 2025
- VERCAMMEN IVO 40%score 95equity €7.3m (2025) · annual accounts 2025
- M-Projects 20%score 78equity €234,396 (2025) · annual accounts 2025
Recent changes
Environmental permit granted
Bouwen of herbouwen · Begijnendijk
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1006199212
Environmental permit refused
Bouwen of herbouwen · Provincie Vlaams-Brabant
Incorporation
Founding capital of €10,000, 10 shares · Founders: SOM BEHEERSMAATSCHAPPIJ, VERCAMMEN IVO and M-PROJECTS · Appointments: SOM BEHEERSMAATSCHAPPIJ, VERCAMMEN IVO and M-PROJECTS · published on 22-02-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| INITIO PROJECTS Hasselt | €114,930 | -€135 | 5.5% | - |
| Benoni Invest Ronse | €126,890 | -€9,871 | 32.7% | - |
| JK CONCEPT Neufchâteau | €119,988 | -€1,121 | 2.1% | - |
| IMMO MOREAU Wavre | €115,368 | -€66 | -1.6% | - |
| Kroon 428 Brasschaat | €102,040 | -€1,797 | 46.1% | - |
| APK Invest Boortmeerbeek | €96,257 | -€8,681 | 94.7% | - |
| Elements Belgium Waasmunster | €147,074 | -€233 | 3.7% | - |
These companies have the same main activity as INITIO PROJECTS: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €96,300 and €147,000, founded between 2023 and 2024.
Official details
Source: KBO- Status
- Active since 20-02-2024Normal situation
- Registered office
- 32 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 9 November 2026.
- Activity
- Development of residential building projectsNACE 68121and 1 other
- Establishment unit
- 2.357.660.3233500 Hasselt, since 20-02-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 09-09-2025
Annual accounts 2025
- €114,930▲ 939%
- Filing
- Filed on 06-07-2026, 25 days before the end of the filing period
Insights on INITIO PROJECTS
INITIO PROJECTS has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6,270 and a net result of -€1,390.
Its solvency ranks better than 24% of 11,299 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about INITIO PROJECTS
- What is the company number of INITIO PROJECTS?
- The company number of INITIO PROJECTS is 1006.199.212. The VAT number is the same number with BE in front: BE 1006.199.212.
- Where is INITIO PROJECTS based?
- The registered office is at Het Dorlik 16, 3500 Hasselt.Company details
- What does INITIO PROJECTS do?
- According to the KBO register, the main activity is development of residential building projects (NACE 68121).
- What is the legal form of INITIO PROJECTS?
- INITIO PROJECTS is a private limited company (BV).
- When was INITIO PROJECTS founded?
- INITIO PROJECTS was founded on 20-02-2024.
- Is INITIO PROJECTS still active?
- Yes, INITIO PROJECTS is an active enterprise in the KBO register.
- What is the turnover of INITIO PROJECTS?
- The annual accounts for financial year 2025 state no turnover. The abbreviated format does not require it.Financials
- Is INITIO PROJECTS profitable?
- In financial year 2025, INITIO PROJECTS made a loss of €1,390.
- Where can I find the annual accounts of INITIO PROJECTS?
- INITIO PROJECTS filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of INITIO PROJECTS due?
- INITIO PROJECTS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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