Summary
Initium Capital is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €129,752 and a net result of -€151,678. Equity is shrinking by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 33% of 5585 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 24-12-2025, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
38 d early
2024
50 d early
2023
70 d early
2022
67 d early
2021
4 d early
2020
on the day
2019
77 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 44 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
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. Usually files around 12 December (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close29-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€129,752▼ 53.9%
2024 · €281,430
Net result
-€151,678▼ 84.4%
2024 · -€82,256
Total assets
€397,242▲ 20.0%
2024 · €330,974
Solvency
32.7%▼ 52.4pp
2024 · 85.0%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€52,610▼ 28.7%€95,182€1.3m▲ 1,228%-€86,745-€156,074▼ 79.9%
Net result€96,542▼ 7.4%€95,237within the sector's middle half▼ 1.4%€1.3mabove the sector's middle half▲ 1,316%-€82,256below the sector's middle half-€151,678below the sector's middle half▼ 84.4%
Equity€2.3m▲ 4.4%€2.4mabove the sector's middle half▲ 4.1%€2.2mabove the sector's middle half▼ 6.3%€281,430within the sector's middle half▼ 87.5%€129,752below the sector's middle half▼ 53.9%
Total assets€2.6m=€2.7mwithin the sector's middle half▲ 4.6%€2.3mwithin the sector's middle half▼ 12.5%€330,974below the sector's middle half▼ 85.9%€397,242below the sector's middle half▲ 20.0%
Debt€353,871=€280,939▼ 20.6%€96,932▼ 65.5%€49,544▼ 48.9%€267,490▲ 440%
Working capital€42,347€178,507within the sector's middle half▲ 322%€2.3mabove the sector's middle half▲ 1,193%€281,430within the sector's middle half▼ 87.8%€129,752within the sector's middle half▼ 53.9%
Solvency90.0%▲ 3.8pp89.5%above the sector's middle half▼ 0.4pp95.9%above the sector's middle half▲ 6.3pp85.0%above the sector's middle half▼ 10.8pp32.7%within the sector's middle half▼ 52.4pp
Current ratio3.15▲ 2.6676.38above the sector's middle half▲ 73.2363.50above the sector's middle half▼ 12.886.68above the sector's middle half▼ 56.821.49within the sector's middle half▼ 5.20
Return on assets (ROA)3.8%▼ 0.3pp3.6%within the sector's middle half▼ 0.2pp57.5%above the sector's middle half▲ 53.9pp-24.9%below the sector's middle half▼ 82.3pp-38.2%below the sector's middle half▼ 13.3pp
Staff (FTE)1=0.3within the sector's middle half▼ 70.0%0within the sector's middle half▼ 100%0within the sector's middle half0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
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 €156,074 in 2025 against €86,745 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €397,242
Equity
€129,752 ▼ 53.9%
Debt
€267,490 ▲ 440%
Debt's share of the balance-sheet total rises from 15.0% to 67.3%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-116.9%▼
2024 · -29.2%
Debt ≤ 1 year
€267,490▲
2024 · €49,544
Income taxes
€0▼
2024 · €2,151
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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €856 | €1.3m | €0 | - | - |
| Remuneration, social security and pensions62 | - | €7,428 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | - | - | - | - | - |
| Other operating charges640/8 | - | €186 | €1,002 | €1,206 | €1,030 | ▼ 14.7% |
| Non-recurring operating charges66A | - | - | - | €76,149 | €140,602 | ▲ 84.6% |
| Gross operating margin9900 | €57,078 | €102,795 | €1.3m | -€9,390 | -€14,442 | ▼ 53.8% |
| Operating profit (loss)9901 | -€52,610 | €95,182 | €1.3m | -€86,745 | -€156,074 | ▼ 79.9% |
| Financial income75/76B | - | €105 | €85,000 | €7,171 | €4,396 | ▼ 38.7% |
| Recurring financial income75 | €150,000 | €105 | €85,000 | €7,171 | €4,396 | ▼ 38.7% |
| Financial charges65/66B | - | €50 | €998 | €530 | €0 | ▼ 100% |
| Recurring financial charges65 | €1,669 | €50 | €998 | €530 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €96,542 | €95,237 | €1.3m | -€80,104 | -€151,678 | ▼ 89.4% |
| Income taxes67/77 | €0 | - | €232 | €2,151 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €96,542 | €95,237 | €1.3m | -€82,256 | -€151,678 | ▼ 84.4% |
| Profit (loss) for the period to be appropriated9905 | €96,542 | €95,237 | €1.3m | -€82,256 | -€151,678 | ▼ 84.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.6m | €2.7m | €2.3m | €330,974 | €397,242 | ▲ 20.0% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €2.5m | €2.5m | €0 | - | - | - |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Financial fixed assets28 | €2.5m | €2.5m | €0 | - | - | - |
| Current assets29/58 | €62,027 | €180,875 | €2.3m | €330,974 | €397,242 | ▲ 20.0% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €60,623 | €170,139 | €1.2m | €125,540 | €392,905 | ▲ 213% |
| Trade receivables40 | - | €170,139 | €0 | - | - | - |
| Other amounts receivable41 | - | €0 | €1.2m | €125,540 | €392,905 | ▲ 213% |
| Current investments50/53 | €1,000 | €1,000 | €201,000 | €201,000 | €1,000 | ▼ 99.5% |
| Cash at bank and in hand54/58 | €404 | €9,736 | €901,626 | €4,434 | €3,337 | ▼ 24.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.6m | €2.7m | €2.3m | €330,974 | €397,242 | ▲ 20.0% |
| Equity10/15 | €2.3m | €2.4m | €2.2m | €281,430 | €129,752 | ▼ 53.9% |
| Contributions10/11 | - | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Revaluation surpluses12 | - | €1.5m | €0 | - | - | - |
| Reserves13 | €546,000 | €546,000 | €546,000 | €31,000 | €31,000 | = |
| Non-distributable reserves130/1 | - | €26,000 | €26,000 | €26,000 | €26,000 | = |
| Reserves not available under the articles1311 | - | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Own shares acquired1312 | - | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Distributable reserves133 | - | €520,000 | €520,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €12,157 | €103,936 | €1.5m | €430 | -€151,248 | ▼ 35,258% |
| Amounts payable17/49 | €353,871 | €280,939 | €96,932 | €49,544 | €267,490 | ▲ 440% |
| Amounts payable after more than one year17 | €334,190 | €278,571 | €60,000 | €0 | - | - |
| Financial debts170/4 | - | €278,571 | €60,000 | €0 | - | - |
| Amounts payable within one year42/48 | €19,681 | €2,368 | €36,932 | €49,544 | €267,490 | ▲ 440% |
| Trade debts44 | €2,365 | €97 | €1,134 | €1,613 | €257 | ▼ 84.1% |
| Suppliers440/4 | - | €97 | €1,134 | €1,613 | €257 | ▼ 84.1% |
| Taxes, remuneration and social security45 | - | €2,271 | €35,798 | €0 | - | - |
| Taxes450/3 | - | €2,271 | €35,798 | €0 | - | - |
| Remuneration and social security454/9 | - | €0 | - | - | - | - |
| Other amounts payable47/48 | - | €0 | - | €47,930 | €267,233 | ▲ 458% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €96,542 | €95,237 | €1.3m | -€82,256 | -€151,678 | ▼ 84.4% |
| + Depreciation and write-downs630 | €0 | - | - | - | - | - |
| Operating cash flow (approximation) | €96,542 | €95,237 | €1.3m | -€82,256 | -€151,678 | ▼ 84.4% |
| Investment in fixed assets (approximation) | - | €0 | €2.5m | - | - | - |
| Change in cash | - | €9,332 | €891,890 | -€897,192 | -€1,098 | ▲ 99.9% |
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
2025
24-12
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
30-06
Financial
Weakest financial yearnet -€151,678
Net result drops to -€151,678, the lowest in the series.
2024
12-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
22-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
30-06
Financial
Highest result since 2019net €1.3m ▲1,316%
Operating result €1.3m, net result €1.3m, both a record.
2022
25-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
30-06
Financial
Liquidity times 24current ratio 76.38
Current ratio from 3.15 to 76.38; short-term debt falls from €19,681 to €2,368.
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Liquidity times 6current ratio 3.15
Current ratio from 0.50 to 3.15; short-term debt falls from €125,036 to €19,681.
31-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
15-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
29-11
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
09-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Hasselt · 1 establishment unit since 2015
Ground area
1,622 m²
Building footprint
222 m²
Volume, LiDAR
1,238 m³
Parcel 71322B0461/00R000, Flanders · tallest building 18.3 m, ±2 floors. Linked by address, not a title deed.
11
companies at this address
See who is registered here
1 establishment unit
CARE FOR GROWTH
since 20152.244.202.490
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71322B0461/00R000 | Flanders | 1,622 m² | 1 · 222 m² | 18.3 m · 2 fl. |
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.
Structure & network
Owners and holdings
1 owner · 1 holdingChain of control
- INITIUM
- Initium Capital
Highest known parent: INITIUM. The sources do not say who stands above it.
Owners 1
- INITIUMparentSourceaccounts INITIUM 2025100%
Holdings 1
-
100%
According to the annual accounts to 30-06-2022 of Initium Capital and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,800. 12,949 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
Founded28-07-2015
Fiscal year end30-06
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0634676245
Also
9925:BE0634676245
Registered
09-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.