Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
-
Tight liquidity NBB
Cash and receivables cover 55 % of short-term debt in 2025; threshold 65 %.
-
Shrinking team NBB
FTE fell two years in a row, from 15.2 to 3.9.
Financials
Financial year 2025
F.INITIATIVES from Brussel, company number BE0665883719, closed financial year 2025 with a result of € 504,379 after tax. For that financial year F.INITIATIVES recorded a gross margin of € 1 million and equity of € -1.3 million. Compared with financial year 2024, the result moved from € -1.4 million to € 504,379. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 24, 2026.
€ -1.3 million
▲ € 504,379 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 504,379
▲ still € 1.4 million loss in 2024
Profit after tax over the fiscal year.
€ 210,341
▲ 108% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -1.3 million.
People and assets in 2025
3.9
▼ 3.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 381,656
▼ 64% vs 2024
€ 97,900 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 2,679
▼ 51% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 280,543
▼ 52% vs 2024
Loans from banks and other lenders, long and short.
€ 622,719
▲ 22% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 4,513
▼ 87% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 569,232 | € 275,291 | € -182,501 | € 1,029,282 | ▲ € 1.2 million |
| Profit after taxes | € -223,646 | € -258,828 | € -1,407,841 | € 504,379 | ▲ € 1.9 million |
| Equity | € -103,255 | € -362,083 | € -1,769,924 | € -1,265,544 | ▲ € 504,379 |
| Total debts | € 854,058 | € 2,546,812 | € 2,833,907 | € 2,714,296 | ▼ 4% |
| Cash | € 145,521 | € 141,601 | € 100,956 | € 210,341 | ▲ 108% |
| Retained profit | € -121,855 | € -380,683 | € -1,788,524 | € -1,284,144 | ▲ € 504,379 |
| Bank debt | € 0 | € 466,931 | € 579,142 | € 280,543 | ▼ 52% |
| Balance sheet total | € 1,661,035 | € 2,227,019 | € 1,130,957 | € 1,515,725 | ▲ 34% |
| Employees (FTE) | 18.2 | 15.2 | 7.4 | 3.9 | ▼ 3.5 |
Key figures of F.INITIATIVES, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to F.INITIATIVES?
What happened at F.INITIATIVES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 504,379. Source: NBB ↗
- Xavier Cazabon became a director. NBB
- New establishment in Brussel. KBO
- Start of the company according to the CBE. KBO
In short
From € 223,646 loss in 2022 to € 504,379 profit in 2025.
Paid € 11,172 in corporate taxes since 2022.
Best year ever: 2025, with € 504,379 profit.
On average € 263,900 of value added per employee in 2025.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind F.INITIATIVES is Xavier Cazabon.
Directors
According to the 2025 annual accounts
Xavier Cazabon
Director
since 2023
Establishments
Establishment units
Physical locations of this company
Harenheidestraat 57
1130 Brussel
Kunstlaan 44
1000 Brussel
Active since 9 November 2016
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 8 companies are registered at this address.
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€ -941,865 gross margin · 2025
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€ 278,114 gross margin · 2025
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€ -329,052 gross margin · 2025
VANJE
€ -600 gross margin · 2025
PROMEDITECH
€ -1,600 gross margin · 2025
+3 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0665.883.719
- VAT number
- BE 0665.883.719
- Registered office
- Harenheidestraat 57, 1130 Brussel
- Names & denominations
- F.INITIATIVES
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 9 November 2016
- Peppol
- Active · Active since 30 Jun 2026
- Activities · NACE
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