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INITIAL BELUX

Active
Public limited companyfounded 20215 yrs activeBrandekensweg 2, 2627 Schelle, BelgiumKBO/BCE: BE 0765.680.386
Summary

INITIAL BELUX has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.2m and a net result of €355,233. Equity is growing by ~14.2% per year across the filed fiscal years. Its solvency ranks better than 78% of 503 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysisWatch ReportCompare
INITIAL BELUXActiveChecked score 99/100
Risk analysis ReportCompare

Overview

Activity
Rental and leasing activities
NACE 77223NACE 77293Rental and leasing activities NACE 77394
#6 company by equity in Schelle, Administrative and support services sector1 site
Size
€3.1mturnover 2025
Staff
14.3 FTE
Equity
€2.2m
Profit
€355,233
Financial health
99 Excellent Checked score 2025
Bankruptcy chance 12 m
0.1%
Structure
Parent
Rentokil Initial 1927 PLC · 99%
Board
1 member
Accounts 31 d early2 of 14 deeds read
Why 99- Founded in 2021+ Liquidity: current ratio 3.23, cash €1.2m+ Equity €2.2m (75.7% of total assets)+ Figures for FY 2025 (filed 30-06-2026)Show the evidence

Checked score

Score 2025
99 / 100
Excellent
Probability in this band: under 0.55%
Better than 92% of its sector peers (NACE 77, small)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Strong
Solvency 100=
equity 75.7% of total assets
Liquidity 95+1
short-term debt 17.5% · cash 40.7%
Profitability 89+16
return on assets 12.0%
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (462 companies)
Last 24 months 11-2024: 0.6%highest value 12-2024: 0.4%▼ -21.1% vs 11-2024 01-2025: 0.4%● 0.0% vs 12-2024 02-2025: 0.4%● 0.0% vs 01-2025 03-2025: 0.4%▼ -0.7% vs 02-2025 04-2025: 0.5%▲ +4.3% vs 03-2025 05-2025: 0.5%▲ +4.3% vs 04-2025 06-2025: 0.5%▲ +1.6% vs 05-2025 07-2025: 0.2%▼ -66.1% vs 06-2025 08-2025: 0.2%● 0.0% vs 07-2025 09-2025: 0.2%▲ +3.6% vs 08-2025 10-2025: 0.2%● 0.0% vs 09-2025 11-2025: 0.2%● 0.0% vs 10-2025 12-2025: 0.2%● 0.0% vs 11-2025 01-2026: 0.2%● 0.0% vs 12-2025 02-2026: 0.2%● 0.0% vs 01-2026 03-2026: 0.2%▲ +19.7% vs 02-2026 04-2026: 0.2%▲ +8.2% vs 03-2026 05-2026: 0.2%▲ +4.0% vs 04-2026 06-2026: 0.2%▲ +1.3% vs 05-2026 07-2026: 0.1%▼ -58.5% vs 06-2026 08-2026: 0.1%● 0.0% vs 07-2026 09-2026: 0.1%▼ -2.0% vs 08-2026lowest value 10-2026: 0.1%● 0.0% vs 09-2026lowest value
  • Liquidity: current ratio 3.23, cash €1.2m lowers the probability
  • Founded in 2021 raises the probability for this profile
  • Equity €2.2m (75.7% of total assets) lowers the probability
  • Figures for FY 2025 (filed 30-06-2026) lowers the probability
Credit up to €220,000 at 30 days acceptable
Liquidity ample (current ratio 3.23 against 3.13 in 2024; short-term debt: 17.5% and cash: 40.7% of total assets), and 24.3% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 77, small). Better than this share of them on solvency 92%, liquidity 98%, profitability 93%, growth against the median 85%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Liquidity: current ratio 3.23, cash €1.2m
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
raises risk · Founded in 2021
In the bankruptcy model this factor raises the probability for this profile.
KBO
lowers risk · Equity €2.2m (75.7% of total assets)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
lowers risk · Figures for FY 2025 (filed 30-06-2026)
In the bankruptcy model this factor lowers the probability.
NBB · annual accounts
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 30-06-2026, 31 days ahead of the deadline.
NBB · 5 filings
Deviation from the deadline
2025
31 d early
2024
41 d early
2023
35 d early
2022
35 d early
2021
30 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 5 accounts on average 34 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 27 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
03-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Appointment: Ben Ghyselinck (director)Power of attorney · Shareholding
  3. Resignations & appointmentsPower of attorney

Key points

  • Positive: Result rose in 2025from €27,376 to €355,233 ▲ 1,198% View
  • Positive: Company by equity in Schelle, Administrative and support…in the Checked rankings #6 View
  • Positive: 4 years of growth in a rowturnover 2025: €3.1m 4 years View
  • Controlled by Rentokil Initial 1927 PLCknown shareholders 100% 99% View
  • New directorlatest change 01-05-2026 · 1 in office 1 joined View
  • Positive: Always filed on timeaccounts within the deadline every year 5 years View

By topic

Financials

Fiscal year
2025
Turnover
€3.1m
Profit
€355,233
Solvency
75.7%
Turnover▲ 32.5%
Net result
20212025
Go to Financials

Board & ownership

Board
1 member
Parent
Rentokil Initial 1927 PLC · 99%
Known shareholders
100%
Go to Board & ownership

Timeline

Events
13
Since
2022
Next accounts
by 31-07-2027
  1. 30-06-2026Annual accounts filed
  2. 24-06-2026Appointment: Ben Ghyselinck (director)
  3. 09-04-2026Resignations & appointments
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Rental and leasing activitiesNACE 77223
Founded
25-03-2021
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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