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INITIUM

Active Private limited companyfounded 2009active for 17 yearsBerenbroekstraat 49, 3500 HasseltKBO/BCE: BE 0817.078.510 #9 company by equity in Hasselt, Wholesale and retail trade sector
INITIUM
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Overview

Lifetime

16 annual accounts with figures on one time axis
peak €204,112 (2023)
-not published
lowest -€3,857 (2010)
€1.6m▼ 75.2%
peak €13.9m (2025)
€13.9m▲ 13.0%
€10.8m▼ 9.2%
peak 2.8 FTE (2025)
2.8 FTE▲ 27.3%
Board2 names since 2009
2 directorsBYNENS Maarten Louis Gerard and 1 other
Documentsfilings and deeds
28-07-20263 days before the deadline
2025financial year
Result from €6.4m to €1.6mStaff from 2.2 FTE to 2.8 FTEEquity from €12.3m to €13.9mCash from €331,232 to €182,594

Key points

from the 2025 annual accounts

Equity

€13.9m ▲ 13.0%

INITIUM has made a profit without a break since 2011.

Result

€1.6m ▼ 75.2%
€6.4m2024€1.6m2025

The result fell in 2025: the 2024 profit included a one-off income of €4.4m.

Investments

€43,437 0.2 × depreciation
20212022202320242025

Green is investment, beige is depreciation.

Payment terms

129 days to suppliers
Suppliers
132 to 129
Customers
131 to 204

INITIUM pays its suppliers 3 days earlier than in 2024. Customers pay 73 days later.

Filings

16 annual accounts since 2010
AprilJune31 JulyOctober2010201520202025

Three of the last ten came late. The 2022 accounts came latest: 59 days after the end of the period.

Group

9 companies controlled

Heads a group.

Checked score

88
Excellent
Financially stronger than 46% of micro companies in wholesale trade (NACE 46)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.4% across 26,895 companies (NACE 46, micro).

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.2% 01-2025: 0.2%● unchanged vs 12-2024lowest value 02-2025: 0.2%● unchanged vs 01-2025 03-2025: 0.2%● unchanged vs 02-2025 04-2025: 0.2%● unchanged vs 03-2025 05-2025: 0.2%● unchanged vs 04-2025 06-2025: 0.3%▲ +0.1 percentage points vs 05-2025 07-2025: 0.3%● unchanged vs 06-2025 08-2025: 0.3%● unchanged vs 07-2025 09-2025: 0.3%● unchanged vs 08-2025 10-2025: 0.3%● unchanged vs 09-2025 11-2025: 0.3%● unchanged vs 10-2025 12-2025: 0.3%● unchanged vs 11-2025 01-2026: 0.3%● unchanged vs 12-2025 02-2026: 0.3%● unchanged vs 01-2026 03-2026: 0.3%● unchanged vs 02-2026 04-2026: 0.3%● unchanged vs 03-2026 05-2026: 0.3%● unchanged vs 04-2026 06-2026: 0.4%▲ +0.1 percentage points vs 05-2026 07-2026: 0.4%● unchanged vs 06-2026highest value 08-2026: 0.2%▼ -0.2 percentage points vs 07-2026 09-2026: 0.2%● unchanged vs 08-2026 10-2026: 0.2%● unchanged vs 09-2026 11-2026: 0.2%● unchanged vs 10-2026

Financial strength
Average

81+5equity 56.2% of total assets
45-1short-term debt 19.2% · cash 0.7%
18-51return on assets 6.5%

Score breakdown

raises risk
Liquidity: current ratio 0.66, cash €182,594
lowers risk
Founded in 2009
Figures for financial year 2025 (filed on 28-07-2026)
Size: turnover €732,145, 2.8 FTE, total assets €24.7m
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 46, micro). It does better than 63% of them on solvency, 44% on liquidity, 21% on profitability and 55% on growth.

The bankruptcy probability was computed on 06-11-2026 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 very low class on 30-06-2025, 0.1% 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).

Credit verdict

Credit of up to €70,000 on 30-day terms is acceptable

Liquidity is insufficient, with a current ratio of 0.66 (0.49 in 2024), below 1. Short-term debt is 19.2% and cash 0.7% of total assets. 43.8% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 0.66, cash €182,594
NBB · annual accounts
lowers risk · Founded in 2009
Companies that have existed this long fail less often. How much that weighs depends on the rest of the company's profile.
KBO
lowers risk · Figures for financial year 2025 (filed on 28-07-2026)
NBB · annual accounts
lowers risk · Size: turnover €732,145, 2.8 FTE, total assets €24.7m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
3 days early
2024
7 days early
2023
30 days late
2022
59 days late
2021
19 days early
2020
2 days early
2019
21 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 5 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% 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. The company usually files around 28 July (4 of the last 5 accounts filed within 34 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

BM
BYNENS Maarten Louis Gerard
Director, since 10-07-2009
VI
VANBUEL Ine
Director, since 01-10-2020

Shares in 10 companies, including HOLDUX and Initium Capital

Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0817078510
Changes of role: VANBUEL Ine (director) and BYNENS Maarten Louis Gerard (director) Gazette deed
Environmental permit granted Nieuwbouw van bijgebouwen en niet overdekte lage constructie · Genk
Environmental permit granted Het reliëf van de bodem aanmerkelijk wijzigen, Hoogstammige bomen vellen die geen deel uitmaken van een bos, Nieuwbouw of aanleggen and 1 more · Genk
All 30 events

Comparable companies

same main activity, similar in size and age
Company
INITIUM Hasselt €0.7m -55.5% 56.2% 2.8
Food Group België Bruges €1.8m -5.1% 85.6% 3
GONDWANA INTERNATIONAL Kontich €0.5m 40.1% 19.7% -
World of Tents Ronse €1.7m -50.8% 86.1% -
TROPICORE Watermael-Boitsfort €20.0m 26.2% 45.1% 5.8
VALIMMO INTERNATIONAL Waterloo - - 27.0% 1.6
DELICO Wingene €12.0m 2.8% 11.3% 2
-10%0%10%20%€500,000€5m€50m€500m€5bnINITIUMEBIT margin

Grey: the largest companies of the sector (wholesale trade (NACE 46)), without their names. Blue: the sector peers from the table.

These companies have the same main activity as INITIUM: agents in non-specialised wholesale trade (NACE 46190). They are comparable in size and age: total assets between €9.3m and €69m, founded between 1998 and 2011.

Official details

Source: KBO
Status
Active since 14-07-2009Normal situation
Registered office
11 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 7 November 2026.
Activity
Agents in non-specialised wholesale tradeNACE 46190and 1 other
Joint committee
200Auxiliary committee for white-collar workers · annual accounts 2025
Establishment unit
2.180.617.5073500 Hasselt, since 10-07-2009
Financial year end
31 December
Peppol
Reachable since 03-09-2025
Company details

Annual accounts 2025

€732,145▼ 5.3%
€1.6m▼ 75.2%
€13.9m▲ 13.0%
€24.7m▲ 2.1%
Employeeson 31-12-2025
3=
Filing
Filed on 28-07-2026, 3 days before the end of the filing period
Financials

Companies linked to INITIUM

Insights on INITIUM

Solvency rose in 2025 from 50.7% to 56.2% because of the retained profit.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

full format, filed on 28-07-2026, 3 days before the deadline
€732,145
▼ 5.3%
-€406,223
▼ €319,109
-€181,709
▼ €336,580
€1.8m
▼ 72.8%
56.2%
▲ 5.4 percentage points
0.66
▲ 0.17
In the rankings #9 company by equity in Hasselt, Wholesale and retail trade sector

Money flows

turnover is 22.8% of income in 2025

Balance sheet

balance sheet total €24.7m on 31-12-2025
What the company ownsHow it is paid for

in €m

in €m

Position in the sector

Compare with sector

56.2%

Higher than 62% of 6,189 companies in 2025.

0.66

Higher than 7% of 6,109 companies in 2025.

6.5%

Higher than 66% of 6,173 companies in 2025.

INITIUM Middle half of the sector 80% of the sector Full accounts in wholesale trade (NACE 46)

Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: bottom quarter · Staff: bottom quarter

Staff

Men and women64% women

1 man and 1.8 women in full-time equivalents in 2025.

€117,524

Men €117,189, women €117,711 per full-time equivalent. Jobs differ, so this is not a pay gap.

people who joined people who left

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend2025202420232022202120202019201820172016201520142013201220112010
Balance sheet: assets
20/58 24.7m24.2m19.7m18.0m14.5m13.8m12.1m11.8m12.1m1.4m659,091615,563579,491591,618390,893206,875
21/28 21.6m21.9m18.6m17.2m14.0m12.3m11.6m11.4m11.4m1.3m619,159595,757567,553576,676374,359188,935
22/27 5.0m5.2m5.4m5.7m2.5m1.6m876,263709,318734,132643,860594,159595,757567,553576,676372,359187,435
22 5.0m5.1m5.3m5.4m2.1m641,572658,325671,617679,775567,906582,757590,307567,332575,891347,234155,000
23 5,19210,78813,78216,26718,805----7,7508,7814,520----
24 53,347117,117166,453273,581335,26223,08041,07837,70154,31368,1182,49275822178525,12532,435
26 --------4386129172----
27 5,097----911,327176,860---------
28 16.5m16.7m13.1m11.5m11.5m10.7m10.7m10.7m10.7m665,98125,000---2,0001,500
280/1 11.5m11.8m--------------
280 11.5m11.8m--------------
282/3 5.0m4.9m--------------
282 282,500102,000--------------
283 4.8m4.8m--------------
29/58 3.1m2.3m1.2m787,594476,4281.5m486,873352,858685,68541,51139,93119,80611,93814,94116,53417,939
40/41 2.9m1.9m1.0m686,993434,4111.3m404,800272,464610,50640,14218,99915,12510,94112,04113,13110,079
40 410,072277,160255,619229,02978,50950,62134,9965,01653,00632,64218,99915,12510,94110,72513,13110,079
41 2.5m1.6m765,300457,965355,9021.2m369,804267,448557,5007,500---1,316--
50/53 ---------9079079079079079071,812
54/58 182,594331,232118,68682,90227,968196,69678,88277,71175,17946220,0252,644901,9932,4976,048
490/1 29,75349,23420,01917,69814,04911,6783,1912,683---1,130----
Balance sheet: equity and liabilities
10/49 24.7m24.2m19.7m18.0m14.5m13.8m12.1m11.8m12.1m1.4m659,091615,563579,491591,618390,893206,875
10/15 13.9m12.3m5.8m3.3m2.9m2.2m1.3m926,744812,04792,15660,37536,16524,59816,9898,5232,343
10/11 6,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,200
100 ------18,60018,60018,60018,60018,60018,60018,60018,60018,60018,600
101 ------12,40012,40012,40012,40012,40012,40012,40012,40012,40012,400
13 13.8m12.3m5.8m3.3m2.9m2.2m1.3m920,544805,84785,95654,17529,96518,39810,7892,323-
130/1 ---1,8601,8601,860----------
130 ------1,8601,8601,8601,8601,8601,8601,8601,8601,860-
1311 ---1,8601,8601,860----------
133 13.8m12.3m5.8m3.3m2.9m2.2m1.3m918,684803,98784,09652,31528,10516,5388,929463-
14 ----------------3,857
17/49 10.8m11.9m13.9m14.7m11.6m11.5m10.8m10.8m11.3m1.3m598,715579,399554,893574,628382,370204,531
17 6.1m7.2m8.6m3.7m5.1m4.6m4.1m5.9m6.6m813,037399,439402,855423,613443,427278,708179,778
170/4 6.1m7.2m8.6m3.7m5.1m4.6m4.1m5.9m6.6m813,037399,439402,855423,613443,427278,708179,778
173 6.1m7.2m--------------
42/48 4.7m4.7m5.3m10.9m6.4m6.9m6.7m5.0m4.7m443,570199,276176,544131,280126,357103,66224,753
42 530,986538,668563,842445,766795,366105,70398,242636,124634,688107,99926,43820,75819,81418,91417,36016,654
43 25,000--4.7m----3.8m-------
430/8 25,000--4.7m----3.8m-------
44 239,879209,130155,377161,994217,612190,52872,4909,04327,5217,3985,4351,8211,905-11,7363,281
440/4 239,879209,130155,377161,994217,612190,52872,4909,04327,5217,3985,4351,8211,905-11,7363,281
45 105,54771,43778,64354,28439,286110,28657,52655,31137,49835,62421,10024,08011,1928,07213,8753,915
450/3 51,56943,94378,64354,28438,986109,98654,85152,63635,61435,62421,10021,3449,3096,18911,9912,032
454/9 53,97827,494--3003002,6752,6751,883--2,7361,8831,8831,8831,883
47/48 3.8m3.8m4.5m5.6m5.4m6.5m6.4m4.3m183,677292,550146,304129,88598,36999,37160,692903
492/3 17,25913,7803,0793,0794,9092,8793,2322,8792,8792,589---4,844--
Income statement
70/76A 844,348866,342--------------
70 732,145772,956------------114,108141,736
74 91,97880,886--------------
76A 20,22512,50014,927447-45,686--9,998-------
9900 --204,112-286,572-49,996153,024124,73248,157100,818116,16088,19862,72753,25561,10138,65832,710
60/66A 1.3m953,456--------------
60/61 --------------77,809111,825
61 679,217577,925--------------
62 329,068113,165--------10,2253,345----
630 224,514241,986241,694199,446114,65943,31946,56135,95535,45034,19717,20115,44714,05514,66715,23224,387
640/8 17,77220,38016,56712,97315,1175,2074,4274,19817,5272,5591,8501,7242,24212,4535401,722
66A -------23--------
9901 -406,223-87,114-54,149-498,991-179,772104,49873,7447,98147,84179,40358,92342,21136,95833,98122,8866,601
75/76B 2.4m7.0m3.0m1.3m1.1m1.1m508,069333,118731,40574115623337100278
75 2.0m2.6m3.0m1.3m1.1m1.1m508,069333,118731,40574115623337100278
750 1.8m2.5m--------------
751 211,96348,738--------------
752/9 54158--------------
76B 397,8114.4m--------------
65/66B 357,297454,654477,012276,287264,749242,991213,693226,19642,43927,08722,97423,53424,77320,62811,9578,953
65 357,297454,654468,099276,287242,092242,991213,693226,19642,43927,08722,97423,53424,77320,62811,9578,953
650 349,898451,328--------------
652/9 7,3993,325--------------
66B --8,914-22,657-----------
9903 1.6m6.4m2.4m520,430651,519954,826368,119114,903736,80652,39135,96018,73312,20813,69011,030-2,075
67/77 6,0325,2755,0095,1784,0182,24119520516,91620,61011,7497,1674,5995,2244,8501,782
670/3 6,0325,275--------------
9904 1.6m6.4m2.4m515,252647,501952,585367,924114,697719,89131,78124,21011,5667,6098,4666,180-3,857
9905 1.6m6.4m2.4m515,252647,501952,585367,924114,697719,89131,78124,21011,5667,6098,4666,180-3,857
Appropriation of the result
9906 1.6m6.4m2.4m515,252647,501952,585367,924114,697719,89131,78124,21011,5667,6098,4662,323-3,857
691/2 1.6m6.4m2.4m410,252647,501952,585367,924114,697719,89131,78124,21011,5667,6098,4662,323-
6920 --------------1,860-
6921 1.6m6.4m2.4m410,252647,501952,585367,924114,697719,89131,78124,21011,5667,6098,466463-
694/7 ---105,000------------
694 ---105,000------------
Social balance sheet
9087 2.82.2--------0.40.2----
Men (FTE)1003 10.8--------------
Women (FTE)1003 1.81.4--------------
Hours worked1013 4,6951,696--------679239----
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 73 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 28-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 28-07-2026 2026-00341163 PDF
31-12-2024 full format 24-07-2025 2025-00306045 PDF
31-12-2023 abbreviated format 30-08-2024 2024-00428634 PDF
31-12-2022 abbreviated format 28-09-2023 2023-00460395 PDF
31-12-2021 abbreviated format 12-07-2022 2022-20179465 PDF
31-12-2020 abbreviated format 29-07-2021 2021-42700029 PDF
31-12-2019 abbreviated format 10-07-2020 2020-28200232 PDF
31-12-2018 abbreviated format 23-07-2019 2019-35900366 PDF
31-12-2017 abbreviated format 11-07-2018 2018-31100034 PDF
31-12-2016 abbreviated format 30-08-2017 2017-55300434 PDF
31-12-2015 abbreviated format 12-08-2016 2016-42600334 PDF
31-12-2014 abbreviated format 08-07-2015 2015-28200108 PDF
31-12-2013 abbreviated format 14-08-2014 2014-42200594 PDF
31-12-2012 abbreviated format 28-08-2013 2013-48400199 PDF
31-12-2011 abbreviated format 20-07-2012 2012-31700419 PDF
31-12-2010 abbreviated format 26-08-2011 2011-45500298 PDF

Subsidies and aid

Flemish government 2023 to 2025, 3 entries, €3,710 awarded, €3,710 paid

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
€3,710
Year Entries AwardedPaid
2025 1 €365€365
2024 1 €3,300€3,300
2023 1 €45€45

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend2025202420232022202120202019201820172016201520142013201220112010
-181,709154,872187,545-299,544-65,113147,817120,30543,93683,291113,60176,12357,65951,01348,64838,11830,988
1.8m6.7m2.7m714,699762,160995,903414,485150,653755,34165,97941,41127,01321,66423,13321,41220,531
223,937160,7091.7m3.4m1.8m759,323251,67331,59710.2m724,87940,60343,6514,932241,998200,656213,323
-148,637212,54635,78454,934-168,728117,8131,1712,53274,717-19,56317,3812,554-1,903-504-3,552-
-1.6m-2.4m-4.2m-10.2m-6.0m-5.5m-6.2m-4.6m-4.0m-402,059-159,345-156,737-119,342-111,416-87,127-6,814
-55.5%-11.3%------------20.1%4.7%
56.2%50.7%29.6%18.4%20.0%16.3%10.7%7.9%6.7%6.8%9.2%5.9%4.2%2.9%2.2%1.1%
0.660.490.220.070.070.210.070.070.150.090.200.110.090.120.160.72
0.780.972.384.444.005.138.3411.6913.9013.669.9216.0222.5633.8244.8687.28
11.5%52.4%41.6%15.6%22.4%42.4%28.4%12.4%88.7%34.5%40.1%32.0%30.9%49.8%72.5%-164.6%
6.5%26.6%12.3%2.9%4.5%6.9%3.0%1.0%6.0%2.4%3.7%1.9%1.3%1.4%1.6%-1.9%
-0.520.340.40-1.08-0.27-----------
204 days131 days------------42 days26 days
129 days132 days------------55 days11 days

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item31-12-202531-12-2024
Employees at the balance-sheet date33
full-time22
part-time11
in full-time equivalents2.82.8
2.82.2
On a permanent contract33
Joined-3
Left-0

Source: social balance sheet in the 2024 to 2025 annual accounts

Securities and guarantees

on own assets and for others
Item20252024202320222021
Debts secured on the company's own assets€6.6m---€2.3m
Mortgages, amount registered€104,500€104,500--€649,550
€4.0m€4.0m---
Carrying value of the mortgaged assets€3.2m€3.3m--€338,652
Carrying value of the other pledged assets€10.9m€10.9m--€10.1m

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€43,437€38,709€65,264€3.4m€990,299
Financial fixed assets€180,500€122,000€1.6m-€800,000
€224,514€241,986€241,694€199,446€114,659

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on INITIUM

The operating result for 2025 is a loss of €406,223, larger than the loss of €87,114 in 2024. It is the lowest result since 2022.

Debt's share of the balance-sheet total falls from 49.3% to 43.8%. Equity is higher and debt is lower.

Large changes and their cause
  • 2025 Net result -75% on 2024. The 2024 profit included a one-off income of €4,412,500.
  • 2024 Net result +165% on 2023. The 2024 profit included a one-off income of €4,412,500.

Board & ownership

Board

2 directors, last change in 2023
BYNENS Maarten Louis Gerard
Director (not named in the articles)
since 10-07-2009 term without a fixed end
earlier manager, until 27-09-2023
listed in the 2025 annual accounts, filed on 28-07-2026
VANBUEL Ine
Director (not named in the articles)
since 01-10-2020 term without a fixed end
earlier manager, until 27-09-2023
listed in the 2025 annual accounts, filed on 28-07-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 27-09-2023

Office holders in the KBO →

Mandates through the years

2 names, the dashed line is today
BYNENS Maarten Louis Gerard
Director (not named in the articles)
VANBUEL Ine
Director (not named in the articles)
BoardEarliermandate already running before its first mention
Mandates as a list
  • BYNENS Maarten Louis Gerard
    • Director (not named in the articles), from 10-07-2009 to date
    • Manager, until 27-09-2023
  • VANBUEL Ine
    • Director, from 01-10-2020 to 27-09-2023
    • Director (not named in the articles), appointed by deed of 27-09-2023, still in office

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution
€6,200
Shares
186 in the 2025 annual accounts
Contribution per share
€33.33
Equity per share
€74,482 in 2025
Source
deed of 27-09-2023

Articles of association

deed of 27-09-2023 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Board ruleThese rules set how the board is made up, meets and takes decisions.
At least 1 director
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Tuesday of June at 20:00

Network & group

Holdings

own 2025 accounts, the bar shows equity in euros
This companyINITIUM10 holdings, 2 countries 2025 accounts

Belgium 9 Year Equity Result

Europe 1 Year Equity Result

  • CH Initium Holdux International GmbH - result -

Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.

Heads the group INITIUM Group, risk and exposure
The LEI register names no parent.

At the same address

Berenbroekstraat 49, 3500 Hasselt · 10 other companies
Decoline Invest
registered office since 13-12-2019 · founded in 2019
 total assets €16.8m (2025)
0739.577.884
HOLDUX
registered office since 07-11-2006 · founded in 2006 · group INITIUM
 2 FTE (2025)
0884.938.522
GMF INVEST
registered office since 06-02-2019 · founded in 2019
 total assets €7.7m (2025)
0719.901.435
AVISO
registered office since 06-01-1995 · founded in 1994
 total assets €3.4m (2025)
0454.074.321
RENARDMONT
registered office since 06-02-2019 · founded in 2019
 total assets €1.9m (2025)
0719.877.382
BV Invest
registered office since 11-01-2018 · founded in 2018 · negative equity (2025)
 total assets €534,043 (2025)
0687.839.866
Initium Capital
registered office since 28-07-2015 · founded in 2015 · group INITIUM
 total assets €400,401 (2026)
0634.676.245
INITIUM DIGITAL
registered office since 06-02-2019 · founded in 2019
 0.8 FTE (2025)
0719.901.237
Decolux Invest
registered office since 05-12-2025
 founded in 2025
1031.226.497
TUKI
registered office since 03-10-2016
 founded in 2016
0648.880.213

Earlier ties

C for Growth Partners
via BYNENS Maarten Louis Gerard, no longer at C for Growth Partners · Director · deed of 15-05-2024
founded in 2024
 total assets €419,151 (2025)

Holdings and subsidiaries

10 holdings · 9 subsidiaries, including indirect ones

Holdings 10

Share, source and own figures per holding (10)

Source for every holding own accounts 2025

  • HOLDUXsubsidiary
    Equity €4.5m Profit of €904,587 in 2025 (profit of €919,887 in 2024)
    100%
  • Initium Capitalsubsidiary
    Equity €115,182 Loss of €14,570 in 2026 (loss of €151,678 in 2025)
    100%
  • Initium Holdux International GmbHCHsubsidiary
    100%
  • LVC SOLUTIONSsubsidiary
    Equity €513,622 Profit of €601,461 in 2025 (profit of €641,343 in 2024) Checked score 81
    100%
  • BV Invest
    Equity -€35,536 Loss of €15,321 in 2025 (loss of €15,580 in 2024) Checked score 53
    50%
  • Uplastics Invest
    Equity €340,272 Profit of €154,307 in 2025 (profit of €35,965 in 2024)
    26.67%
  • Bricks & Mortar
    Equity €218,183 Profit of €8,183 in 2025 Checked score 87
    20%
  • ENTRYA TECHNOLOGIES
    Equity €141,551 Loss of €72,332 in 2025 (loss of €24,574 in 2024) Checked score 82
    0.5%
  • OSENCE
    Equity €43,298 Loss of €270 in 2025 (loss of €1,412 in 2024) Checked score 84
    0.5%
  • SECULUX
    Equity €1.4m Profit of €263,551 in 2025 (profit of €294,625 in 2024) Checked score 84
    0.13%
All subsidiaries, including indirect ones 9

INITIUM or one of its subsidiaries holds more than half of the shares of these companies. A company it consolidates per the LEI register is listed too.

Holdings through the years 2016 to 2025
Holdings through the years
Name2016201720182019202020212022202320242025
HOLDUX 100%
Initium Capital 33.2%100%
Initium Holdux International GmbHCH 100%
LVC SOLUTIONS 90.3%100%
BV Invest 50%
Uplastics Invest 26.67%
Bricks & Mortar 20%
ENTRYA TECHNOLOGIES 0.5%
OSENCE 0.5%
SECULUX 0.13%
RENARDMONT 99%
U PLASTICS 34%
Riho Invest 20%15%

Source: list of holdings in its own accounts

Board mandates elsewhere

3 board mandates
Board mandates of INITIUMINITIUM sits on their board3
U PLASTICS
Director · 2 locations
Founded in 2013 · 5 FTE (2025)
LVC SOLUTIONS
Director, Managing director
Founded in 1989 · 13 FTE (2025) · group INITIUM
Seculux Invest
Director
Founded in 1984 · total assets €77,728 (2025) · group INITIUM

Connections & network

1 connected company
Depth

The connected companies are in the list below.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
TUKI
via Maarten Bynens · Director and chair of the board · deed of 19-06-2024
Founded in 2016
→

Timeline

Timeline

30 events since 2009

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBfull format · 3 days before the deadline
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0817078510
Annual accounts 2024 filed PDFfull format · 7 days before the deadline
2024
Highest result from 2010 to 2025 net €6.4m ▲165% The net result of €6.4m is the highest of those years.
Equity above €10m equity €12.3m ▲110% After 14 profitable years in a row, equity reaches €12.3m.
Annual accounts 2023 filed PDFabbreviated format · 30 days late
2023
Equity above €5m equity €5.8m ▲76.6% After 13 profitable years in a row, equity reaches €5.8m.
Annual accounts 2022 filed PDFabbreviated format · 59 days late
Changes of role: VANBUEL Ine (director) and BYNENS Maarten Louis Gerard (director)5 points ▸

Open the deed in the Belgian Official Gazette

2022
Environmental permit granted OmgevingsloketNieuwbouw van bijgebouwen en niet overdekte lage constructie · Genk
Annual accounts 2021 filed PDFabbreviated format · 19 days before the deadline
2021
Annual accounts 2020 filed PDFabbreviated format · 2 days before the deadline
2020
Equity above €2m equity €2.2m ▲73.6% After 10 profitable years in a row, equity reaches €2.2m.
Environmental permit granted OmgevingsloketHet reliëf van de bodem aanmerkelijk wijzigen, Hoogstammige bomen vellen die geen deel uitmaken van een bos, Nieuwbouw of aanleggen and 1 more · Genk
Appointment: Ine Vanbuel (director)General meeting of 15-10-20202 points ▸
  • General meeting, 15-10-2020
  • Director appointment, Ine Vanbuel

Open the deed in the Belgian Official Gazette

Annual accounts 2019 filed PDFabbreviated format · 21 days before the deadline
2019
Equity above €1m equity €1.3m ▲39.7% After 9 profitable years in a row, equity reaches €1.3m.
Annual accounts 2018 filed PDFabbreviated format · 8 days before the deadline
2018
Annual accounts 2017 filed PDFabbreviated format · 20 days before the deadline
2017
Equity above €500,000 equity €812,047 ▲781% After 7 profitable years in a row, equity reaches €812,047.
Annual accounts 2016 filed PDFabbreviated format · 30 days late
2016
Annual accounts 2015 filed PDFabbreviated format · 12 days late
2015
Annual accounts 2014 filed PDFabbreviated format · 23 days before the deadline
2014
Annual accounts 2013 filed PDFabbreviated format · 14 days late
2013
Annual accounts 2012 filed PDFabbreviated format · 28 days late
2012
Annual accounts 2011 filed PDFabbreviated format · 11 days before the deadline
2011
Back to profit net €6,180 The net result is €6,180, after one loss-making year.
Annual accounts 2010 filed PDFabbreviated format · 26 days late
2009
Incorporation PDFpublished on 27-07-2009
First establishment Berenbroekstraat 49, Hasselt

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

INITIUM was incorporated on 14 July 2009.1 Total assets rose from €11.8m in 2018 to €24.7m in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0817.078.510
VAT number
BE 0817.078.510
Peppol ID
0208:0817078510
Other Peppol ID
9925:BE0817078510
LEI code
984500D6I0D84E7YJA37 live in the LEI register
Legal form
Private limited company
Status
Active, normal situation
Founded
14-07-2009
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Tuesday of June at 20:00
deed of 27-09-2023 (in Dutch)
Peppol
Reachable since 03-09-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
INITIUM in Dutch
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 27-09-2023 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 27-09-2023 (in Dutch)

Activities

NACEBEL 2025
VAT activities
46190 Agents in non-specialised wholesale trade main activity
Social security (RSZ) activities
46643 Wholesale of electrical equipment, including installation materials main activity
Joint committees annual accounts 2025
JC 200 Auxiliary committee for white-collar workers
Codes under NACEBEL 2008
VAT activities
46190 Wholesale trade main activity
Social security (RSZ) activities
46693 Wholesale trade main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“Bemiddeling bij aankoop, verkoop en verhuur van onroerend goed voor een vast bedrag of op contractbasis; Handel in eigen onroerend goed…”
20 activities
  1. Bemiddeling bij aankoop, verkoop en verhuur van onroerend goed voor een vast bedrag of op contractbasis.
  2. Handel in eigen onroerend goed.
  3. Managementvennootschap in de ruimste zin van het woord.
  4. Consulting en advies op het gebied van management, marketing, aankoop, beheer, rekrutering en selectie, communicatie, productontwikkeling, distributie, trading, fiscaliteit, alle financiële producten en verzekeringen, media, engineering, verkoop en commerciële support evenals de marketing, introductie en uitoefening ervan, zowel in binnen- als in buitenland.
  5. Het geven van adviezen, het maken van studies, het voorbereiden en opgang brengen van organisatiesystemen, het in toepassing brengen van systemen voor gegevensverwerking en alle technieken in verband met het commercieel, tech-nisch, administratief, economisch en algemeen beheer van ondernemingen, zowel in binnen- als in buitenland.
  6. Studie-, organisatie- en raadgevend bureau inzake financiële, handels, fiscale, economische of sociale aangelegenheden.
  7. Organiseren van opleidingen en seminaries.
  8. Productontwikkeling en ontwerprealisaties, deze producten en ontwerpen laten produceren, commercialiseren, importeren exporteren en verkopen zowel in groot-als in kleinhandel.
  9. Import/export van alle soorten goederen.
  10. Publiciteitsonderneming en plaatsingsbureau.
  11. Het voorlichten, opzetten, coördineren en beheren van handelingen gericht op het ontwikkelen van projecten in de ruimste zin van het woord.
  12. Optreden als makelaar of tussenpersoon in takken als handel, verzekeringen, leningen, financiële verrichtingen, kredieten, geldplaatsingen, immobiliën zonder dat deze opsomming limitatief is.
  13. Het publiceren en uitgeven van boeken, handleidingen, eindwerken en dergelijke.
  14. Overige zakelijke dienstverlening n.e.g.
  15. De vennootschap kan zich daarenboven interesseren door middel van inbrengen, van inschrijvingen, van financiële tussenkomsten, fusie op opslorping of op elk eendere wijze ook, in elke maatschappij, vennootschap of onderneming welke, hetzij gedeeltelijk een aan hare gelijkwaardig of gelijklopend voorwerp heeft of van aard is om een andere tak van haar activiteit te ontwikkelen of uit te breiden en dit zowel in België als in het buitenland.
  16. De vennootschap heeft eveneens als doel : alle nijverheids-, industriële, commerciële en administratieve verrichtingen, handelszaken en alle handelingen van roerende, onroerende of financiële aard te stellen zowel voor eigen rekening als voor rekening van derden die onrechtstreeks of rechtstreeks, hetzij geheel of gedeeltelijk betrekking hebben op het maatschappelijk doel van de vennootschap of van die aard zouden zijn de verwezenlijking ervan te vergemakkelijken of uit te breiden of eenvoudig te bevorderen en welke niet verboden zijn door de wet. De vennootschap mag haar doel verwezenlijken zowel in België als in het buitenland op alle wijzen en manieren die zij best geschikt zal achten.
  17. De vennootschap handelt voor eigen rekening, in consignatie, in commissie, als tussenpersoon of als vertegenwoordiger.
  18. Zij mag deelnemen in allerhande vennootschappen, ondernemingen, groeperingen of organisaties.
  19. Zij kan ook handelen als patrimoniumvennootschap, zij mag haar onroerende goederen in hypotheek stellen en al haar andere goederen, met inbegrip van het handelsfonds, in pand stellen en mag aval verlenen voor alle leningen, kredietopeningen en andere verbintenissen zowel voor haarzelf als voor alle derden op voorwaarde dat zij er zelf belang bij heeft.
  20. Zij kan ook functies van zaakvoerder, bestuurder, afgevaardigd bestuurder of vereffenaar van andere vennootschappen uitoefenen.
deed of 27-09-2023 (in Dutch)

Registered office and establishments

1 establishment
Establishment Since Unit number
Berenbroekstraat 49 registered office 3500 Hasselt 4619001 Agents in non-specialised wholesale trade 10-07-2009 2.180.617.507

Buildings and parcels at the address

Ground area
1,622 m²
Buildings
222 m²
Volume, LiDAR
1,238 m³
Tallest building
18.3 m
Buildings to scale, each on its own parcel
222 m², 18.3 m 222 m², 18.3 m

Environmental permits

6 applications in Flanders since 2019 · 2 granted
31-10-2022 Granted Nieuwbouw van bijgebouwen en niet overdekte lage constructie submitted 14-07-2022 · project 2022089567 Genk
10-05-2022 Not legally valid Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen submitted 01-05-2022 · Notification · project 2022059778 Genk
03-11-2020 Granted Het reliëf van de bodem aanmerkelijk wijzigen; Hoogstammige bomen vellen die geen deel uitmaken van een bos; Nieuwbouw of aanleggen; Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 29-05-2020 · project 2020070014 Genk
05-06-2020 Discontinued Het reliëf van de bodem aanmerkelijk wijzigen; Hoogstammige bomen vellen die geen deel uitmaken van een bos; Nieuwbouw of aanleggen; Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 28-05-2020 · project 2020050127 Genk
17-04-2020 Discontinued Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 23-03-2020 · project 2020001457 Genk
16-12-2019 Discontinued Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 18-11-2019 · project 2019126687 Genk

Source: Omgevingsloket Vlaanderen.

Location

registered office establishment The establishment unit on the map
11 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
71322B0461/00R0001,622 m² 1 · 222 m² 18.3 m · 2

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