Initiative Formation Insertion
ActiveInitiative Formation Insertion has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €375k and a net result of €-287k. Equity is growing by ~22.5% per year across the filed fiscal years. Its solvency ranks better than 35% of 612 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2024
59
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. A confirmed filing finding caps the score. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0▼-52
Solvency64▼-24
Growth52=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22k at 30 days only on tighter terms
Liquidity ample (current ratio 2.65 against 2.06 in 2023; short-term debt: 26.3% and cash: 37.7% of total assets), but 61.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 94
Relative position
BE, all sectors
reference
Sector 94
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
38.8%
Return on assets
-29.7%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-287k
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-03-2026, 220 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
220 d late
2023
20 d late
2022
287 d late
2021
200 d late
2020
81 d late
2019
165 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-287k▼ 881%
2023 · €-29k
2018: €3k
2019: €3k
2020: €339
2021: €2k
2022: €42k
2023: €-29k
2018 → 2024
Working capital
€421k▲ 13.5%
2023 · €370k
2018: €542k
2019: €551k
2020: €637k
2021: €638k
2022: €648k
2023: €370k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€130k-€126k▼ 3.1%€705k▲ 459%€669k▼ 5.1%€375k▼ 43.9%
Operating result€-6k-€-3k▲ 51.9%€36k€-32k€-293k▼ 812%
Net result€339-€2k▲ 577%€42k▲ 1,711%€-29k€-287k▼ 881%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €293k in 2024 against €32k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €967k
Fixed assets
€292k▼ 13.7%
Current assets
€675k▼ 6.5%
Equity and liabilities €967k
Equity
€375k▼ 43.9%
Provisions
€301k
Debt
€290k▼ 25.7%
The debt ratio falls from 36.9% to 30.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-247k▼
2023 · €16k
Cash flow
€-241k▼
2023 · €19k
Solvency
38.8%▼
2023 · 63.1%
Current ratio
2.65▲
2023 · 2.06
Quick ratio
2.65▲
2023 · 2.06
Debt / equity
0.77▲
2023 · 0.58
ROE
-76.6%▼
2023 · -4.4%
ROA
-29.7%▼
2023 · -2.8%
Interest coverage
-343.34▼
2023 · 4.40
Debt
€290k▼
2023 · €391k
Debt ≤ 1 year
€254k▼
2023 · €351k
Debt > 1 year
€36k▼
2023 · €40k
Staff costs
€895k▲
2023 · €844k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€1.06M€967k▼
Fixed assets21/28€339k€292k▼
Tangible fixed assets22/27€144k€98k▼
Land and buildings22€6k€6k=
Plant, machinery and equipment23€25k€18k▼
Furniture and vehicles24€67k€46k▼
Other tangible fixed assets26€46k€28k▼
Financial fixed assets28€195k€195k=
Current assets29/58€721k€675k▼
Amounts receivable after more than one year29€40k€36k▼
Other amounts receivable291€40k€36k▼
Amounts receivable within one year40/41€203k€268k▲
Other amounts receivable41€203k€268k▲
Cash at bank and in hand54/58€474k€365k▼
Deferred charges and accrued income490/1€4k€6k▲
Equity and liabilities
Total equity and liabilities10/49€1.06M€967k▼
Equity10/15€669k€375k▼
Reserves13€679k€679k=
Profit (loss) carried forward14€-23k€-310k▼
Investment grants15€13k€6k▼
Provisions and deferred taxes16-€301k
Provisions for liabilities and charges160/5-€301k
Other liabilities and charges164/5-€301k
Amounts payable17/49€391k€290k▼
Amounts payable after more than one year17€40k€36k▼
Financial debts170/4-€36k
Other amounts payable178/9€40k-
Amounts payable within one year42/48€351k€254k▼
Current portion of amounts payable after more than one year42€3k€3k=
Trade debts44€40k€20k▼
Suppliers440/4€40k€20k▼
Taxes, remuneration and social security45€122k€128k▲
Taxes450/3€23k€20k▼
Remuneration and social security454/9€99k€108k▲
Income statement
Code20232024
Remuneration, social security and pensions62€844k€895k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€48k€46k▼
Other operating charges640/8€3k€2k▼
Non-recurring operating charges66A€2k€301k▲
Gross operating margin9900€866k€952k▲
Operating profit (loss)9901€-32k€-293k▼
Financial income75/76B€7k€7k▲
Recurring financial income75€7k€7k▲
Financial charges65/66B€4k€720▼
Recurring financial charges65€4k€720▼
Profit (loss) for the period before taxes9903€-29k€-287k▼
Profit (loss) for the period9904€-29k€-287k▼
Profit (loss) for the period to be appropriated9905€-29k€-287k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-23k€-310k▼
Profit (loss) brought forward from the previous period14P€6k€-23k▼
Social balance
Average headcount (FTE)908711.612.0▲
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
08-03
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 220 days late
2024
31-12
Financial
Weakest financial yearnet €-287k
Net result drops to €-287k, the lowest in the series.
20-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 20 days late
13-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 287 days late
2023
16-02
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 200 days late
2022
31-12
Financial
Highest result since 2018net €42k ▲1711%
Operating result €36k, net result €42k, both a record.
31-12
Financial
Equity above €500kEq €705k ▲459%
5 profitable years in a row build equity to €705k.
2021
20-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 81 days late
12-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 165 days late
2020
17-01
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 170 days late
2018
25-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 86 days late
2017
14-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 45 days late
2016
13-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 44 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
16-01-2026
Ludivine DELMOTTE: Resigned as Director
16-01-2026
Vincent ALLARD: Resigned as Director
19-04-2022
Luc Bruyère: Resigned as Director
20-07-2021
Dominique BRASSEUR: Resigned as Director
20-07-2021
Sandy MENEGAZZI: Resigned as Director
14-06-2020
Lucie PECQUEREAU: Resigned as Director
17-01-2020
Dominique BRASSEUR: Resigned as Director
28-01-2016
Marie-Yvonne DUFAY: Resigned as Director
30-06-2015
Deleruelle Didier: Resigned as Director
24-06-2014
Vincent ALLARD: Resigned as Director
24-06-2014
Brigitte DELLETTRE: Resigned as Director
24-06-2014
Damien CHEVALIER: Resigned as Director
Location & real-estate footprint
Registered office, Tournai · 1 establishment unit since 1997
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Jeanne d'Arc(TOU) 527500 TournaiGround area
1.3 ha
Building footprint
852 m²
Volume, LiDAR
13,375 m³
Parcel 57462A0143/00T000, Wallonia · tallest building 17.9 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Initiative Formation Insertion
since 19972.163.179.479
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57462A0143/00T000indicative | Wallonia | 1.3 ha | 1 · 851 m² | 17.9 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 444 companies in sector 94992 we hold annual accounts for 137. 98 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formNon-profit association
Founded13-11-1997
Fiscal year end31-12
Abbreviation FR
I.F.I.
Activities, NACEBEL
94992Activities of membership organisations
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryPhone:069671588