Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Tight liquidity NBB
Cash and receivables cover 57 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
INITIA from Liège, company number BE0676907669, closed financial year 2025 with a result of € -41,078 after tax. For that financial year INITIA recorded a gross margin of € 10,566 and equity of € 46,402. Compared with financial year 2024, the result moved from € -3,118 to € -41,078. The company made a loss. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on March 16, 2026.
€ 46,402
▲ € 43,859 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -41,078
▼ 1217 % more loss than in 2024
Profit after tax over the fiscal year.
€ 29,672
▲ 292% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -44,834.
People and assets in 2025
€ 50,418
▲ 14% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 629
▼ 40% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 386,776
▲ 44% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 5,766
▼ 56% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -336 | € 32,825 | € 42,397 | € 10,566 | ▼ 75% |
| Profit after taxes | € -801 | € 860 | € -3,118 | € -41,078 | ▼ € 37,960 |
| Equity | € 4,801 | € 5,661 | € 2,543 | € 46,402 | ▲ € 43,859 |
| Total debts | € 2,568 | € 226,635 | € 357,874 | € 605,190 | ▲ 69% |
| Cash | € 7,174 | € 252 | € 7,576 | € 29,672 | ▲ 292% |
| Retained profit | € -1,499 | € -639 | € -3,757 | € -44,834 | ▼ € 41,078 |
| Balance sheet total | € 7,369 | € 232,296 | € 360,417 | € 651,591 | ▲ 81% |
Key figures of INITIA, 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 INITIA?
What happened at INITIA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 41,078. Source: NBB ↗
- New establishment in Liège. KBO
- Etienne GERARD became a director. NBB
- Pascal GERARD became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 801 loss in 2022 to € 41,078 loss in 2025.
Best year ever: 2023, with € 860 profit.
A new publication or filing at INITIA? We notify you, reason included.
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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 INITIA are Etienne GERARD and Pascal GERARD. The same people are also behind DG & S CONSULTING. Etienne GERARD is also behind E-R Consulting. Pascal GERARD is also behind G+ Immo.
Directors
According to the 2025 annual accounts
since 2017
since 2017
Establishments
Establishment units
Physical locations of this company
Rue des Vennes 312 box 1
4020 Liège
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 9 companies are registered at this address.
All companies at this address →COMHELIUM
SM G + CONCEPTS - COP ET PORTIER
Société d’architectes helium3
€ 65,585 gross margin · 2025
G + CONCEPTS
€ 249,979 gross margin · 2025
G+ Immo same network
€ 9,313 gross margin · 2025
+4 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
- 0676.907.669
- VAT number
- BE 0676.907.669
- Registered office
- Rue des Vennes 312 bus 1, 4020 Liège
- Names & denominations
- INITIA
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 16 June 2017
- Peppol
- Active · Active since 15 Dec 2025
- Activities · NACE
Activiteiten van bouwarchitecten