Equity
€201,946 ▲ 9.8%
INITSU-CONSULTING has made a profit without a break since 2020.
INITSU-CONSULTING
Lifetime
15 annual accounts with figures on one time axispeak €71,249 (2022)
€30,321▼ 32.9%
lowest -€688 (2019)
€18,032▼ 37.8%
peak €201,946 (2025)
€201,946▲ 9.8%
€71,783▼ 1.7%
Board2 names since 2021
1 directorVAN AELST Nicolas Nathan Renaud
Documentsfilings and deeds
26-08-202626 days late
2025micro format
Gross margin from €45,192 to €30,321Result from €28,980 to €18,032Cash from €88,839 to €23,572
Key points
from the 2025 annual accountsChecked score
94
Excellent
Financially stronger than 52% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025lowest value
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: 0.1%▲ +0.1 percentage points vs 08-2026highest value
10-2026: 0.1%● unchanged vs 09-2026highest value
11-2026: 0.1%● unchanged vs 10-2026highest value
Financial strengthStrong
Score breakdown
lowers risk
Sector: Activities of head offices; management consultancy activities (NACE 70)
Size: total assets €273,729
Founded in 2010
Equity €201,946 (73.8% of total assets)
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 70, micro). It does better than 70% of them on solvency, 37% on liquidity, 42% on profitability and 57% on growth.
The bankruptcy probability was computed on 09-11-2026 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).
Comparable companies, two years later
In July 2024, 34,693 companies had the same profile as INITSU-CONSULTING has now. Each dot stands for 87 companies, two years later.
95.3%
were still trading
3.9%
stopped another way
0.7%
went bankrupt
That fits the bankruptcy probability of INITSU-CONSULTING itself: 0.1% within 12 months.
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 34,693 companies, not a prediction for INITSU-CONSULTING. 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.
Credit verdict
Credit of up to €18,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 3.74 (3.68 in 2024), above the usual 1.5. Short-term debt is 26.2% and cash 8.6% of total assets. 26.2% 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 risk
raises risk · 2025 accounts filed 26 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
26 days late
2024
30 days early
2023
21 days early
2022
21 days late
2021
9 days early
2020
4 days early
2019
21 days late
← 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 1 day after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% 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 22 July (4 of the last 5 accounts filed within 30 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
Board and ownership
- VAN AELST Nicolas Nathan Renaud 184 sharesdeed of 07-02-2024
- VAN AELST Bastien François Vincent 1 sharedeed of 07-02-2024
- VAN AELST Claude Henri Jean 1 sharedeed of 07-02-2024
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0825853842
Amendment of the articles · Legal-form change
Change of role: VAN AELST Nicolas Nathan Renaud, from manager to director · Appointment: VAN AELST Bastien François Vincent (vervangend gedelegeerd bestuurder) · VAN AELST Nicolas Nathan Renaud holds 184 shares · Gazette deed
Incorporation
published on 21-05-2010 · Gazette deed
First establishment
INITSU, Merellaan 5, Tervuren
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| INITSU-CONSULTING Tervuren | €273,729 | €30,321 | 73.8% | - |
| KDK CONSULT Halle | €288,915 | €31,065 | 98.3% | - |
| LA LALA Kraainem | €296,962 | €27,141 | 62.8% | - |
| ABE CONSULT Overijse | €314,828 | €30,814 | 17.8% | - |
| CALCULI Asse | €286,339 | €30,433 | 95.5% | - |
| WEPIX Wezembeek-Oppem | €273,315 | €35,733 | 89.3% | - |
| Plasticosiberia Merchtem | €251,921 | €30,234 | 77.6% | - |
These companies have the same main activity as INITSU-CONSULTING: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €252,000 and €315,000, founded between 2008 and 2012.
Official details
Source: KBO- Status
- Active since 12-05-2010Normal situation
- Activity
- Business and other management consultancyNACE 70200and 2 others
- Establishment unit
- 2.188.267.1443080 Tervuren, since 11-05-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 10-12-2025
Insights on INITSU-CONSULTING
INITSU-CONSULTING files the micro format. That format states no turnover. The gross margin fell from €44,264 in 2011 to €30,321 in 2025.
In February 2024, the Official Gazette published the appointment of VAN AELST Bastien François Vincent as managing director.
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 INITSU-CONSULTING
- What is the company number of INITSU-CONSULTING?
- The company number of INITSU-CONSULTING is 0825.853.842. The VAT number is the same number with BE in front: BE 0825.853.842.
- Where is INITSU-CONSULTING based?
- The registered office is at Merellaan 5, 3080 Tervuren.Company details
- What does INITSU-CONSULTING do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of INITSU-CONSULTING?
- INITSU-CONSULTING is a private limited company (BV).
- When was INITSU-CONSULTING founded?
- INITSU-CONSULTING was founded on 12-05-2010.
- Is INITSU-CONSULTING still active?
- Yes, INITSU-CONSULTING is an active enterprise in the KBO register.
- What is the turnover of INITSU-CONSULTING?
- The turnover in financial year 2025 is ≈ €88,000. This figure is estimated from the gross margin of €30,321 and 144 comparable companies (NACE 70200). It probably lies between €53,000 and €120,000.Financials
- Is INITSU-CONSULTING profitable?
- In financial year 2025, INITSU-CONSULTING made a profit of €18,032.
- Where can I find the annual accounts of INITSU-CONSULTING?
- INITSU-CONSULTING filed 15 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of INITSU-CONSULTING due?
- INITSU-CONSULTING 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 Compare this company with its sector.Sector benchmark See what changed in the latest annual accounts.What changed
See how customers, suppliers and banks see your own company and what to improve first.