Equity
€13.9m ▲ 13.0%
INITIUM has made a profit without a break since 2011.
INITIUM
Lifetime
16 annual accounts with figures on one time axispeak €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 accountsResult
€1.6m ▼ 75.2%
The result fell in 2025: the 2024 profit included a one-off income of €4.4m.
Investments
€43,437 0.2 × depreciation
Green is investment, beige is depreciation.
Payment terms
129 days to suppliers
INITIUM pays its suppliers 3 days earlier than in 2024. Customers pay 73 days later.
Filings
16 annual accounts since 2010
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 26,888 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 strengthAverage
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 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 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.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 filingsDeviation 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 monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
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
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 |
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 8 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
Annual accounts 2025
- €24.7m▲ 2.1%
- Employeeson 31-12-2025
- 3=
- Filing
- Filed on 28-07-2026, 3 days before the end of the filing period
Companies linked to INITIUM
Subsidiaries and holdings
- LVC SOLUTIONS100%
- BV Invest50%
- Uplastics Invest26.67%
- Bricks & Mortar20%
- ENTRYA TECHNOLOGIES0.5%
- OSENCE0.5%
- SECULUX0.13%
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. Click a figure with a dotted line for the item and the filing.
Key facts about INITIUM
- What is the company number of INITIUM?
- The company number of INITIUM is 0817.078.510. The VAT number is the same number with BE in front: BE 0817.078.510.
- Where is INITIUM based?
- The registered office is at Berenbroekstraat 49, 3500 Hasselt.Company details
- What does INITIUM do?
- According to the KBO register, the main activity is agents in non-specialised wholesale trade (NACE 46190).
- What is the legal form of INITIUM?
- INITIUM is a private limited company (BV).
- When was INITIUM founded?
- INITIUM was founded on 14-07-2009.
- Is INITIUM still active?
- Yes, INITIUM is an active enterprise in the KBO register.
- How many employees does INITIUM have?
- INITIUM had an average of 2.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does INITIUM fall under?
- In its 2025 annual accounts, INITIUM states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of INITIUM?
- The turnover of INITIUM was €732,145 in financial year 2025, according to the filed annual accounts.
- Is INITIUM profitable?
- In financial year 2025, INITIUM made a profit of €1.6m.
- Where can I find the annual accounts of INITIUM?
- INITIUM filed 16 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of INITIUM due?
- INITIUM must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check See which support similar companies received that this one did not.Subsidies See the other companies in the same group.INITIUM · 18 companies
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