CIRA
ActiveSummary
CIRA has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-38k) and a net result of €-25k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 9% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability5▼-4
Solvency8▼-13
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.85 against 0.93 in 2024; short-term debt: 116.6% and cash: 42.3% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Four 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
-16.8%
Return on assets
-11.1%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-38k
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 01-07-2026, 30 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
30 d early
2024
29 d early
2023
7 d early
2022
17 d early
2021
18 d late
2020
26 d late
2019
24 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€138k
EBIT margin
17.3%
Net result
€-25k▼ 13.1%
2024 · €-22k
2018: €-19k
2019: €13k▲ +167% vs 2018highest in 8 years
2020: €7k▼ -45.5% vs 2019
2021: €7k▼ -3.2% vs 2020
2022: €-3k▼ -145% vs 2021
2023: €-14k▼ -359% vs 2022
2024: €-22k▼ -56.5% vs 2023
2025: €-25k▼ -13.1% vs 2024lowest in 8 years
2018 → 2025
Working capital
€-41k▼ 98.3%
2024 · €-20k
2018: €-219highest in 8 years
2019: €-27k▼ -12031% vs 2018
2020: €-450k▼ -1594% vs 2019lowest in 8 years
2021: €-123k▲ +72.7% vs 2020
2022: €-163k▼ -32.5% vs 2021
2023: €-221k▼ -36.2% vs 2022
2024: €-20k▲ +90.8% vs 2023
2025: €-41k▼ -98.3% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€26k-€23k▼ 11.7%€9k▼ 60.5%€-13k€-38k▼ 194%
2021: €26khighest in 5 years
2022: €23k▼ -11.7% vs 2021
2023: €9k▼ -60.5% vs 2022
2024: €-13k▼ -240% vs 2023
2025: €-38k▼ -194% vs 2024lowest in 5 years
Operating result€28k-€-2k€-10k▼ 416%€-28k▼ 171%€-25k▲ 11.2%
2021: €28khighest in 5 years
2022: €-2k▼ -107% vs 2021
2023: €-10k▼ -416% vs 2022
2024: €-28k▼ -171% vs 2023lowest in 5 years
2025: €-25k▲ +11.2% vs 2024
Net result€7k-€-3k€-14k▼ 359%€-22k▼ 56.5%€-25k▼ 13.1%
2021: €7khighest in 5 years
2022: €-3k▼ -145% vs 2021
2023: €-14k▼ -359% vs 2022
2024: €-22k▼ -56.5% vs 2023
2025: €-25k▼ -13.1% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €25k in 2025 against €28k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €225k
Fixed assets
€3k ▼ 58.4%
Current assets
€222k ▼ 22.6%
Key figures and ratios
EBITDA
€-20k▲
2024 · €-23k
Cash flow
€-20k▼
2024 · €-18k
Solvency
-16.8%▼
2024 · -4.4%
Current ratio
0.85▼
2024 · 0.93
Quick ratio
0.41▼
2024 · 0.54
Debt to equity
-6.96▲
2024 · -23.90
ROA
-11.1%▼
2024 · -7.5%
Interest coverage
-56.86▲
2024 · -100.65
Debt
€263k▼
2024 · €307k
Debt ≤ 1 year
€263k▼
2024 · €307k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 38 lines
Balance sheet
Code20242025
Assets
Total assets20/58€295k€225k▼
Fixed assets21/28€8k€3k▼
Tangible fixed assets22/27€8k€3k▼
Plant, machinery and equipment23€8k€3k▼
Current assets29/58€287k€222k▼
Stocks and contracts in progress3€121k€116k▼
Stocks30/36€121k€116k▼
Amounts receivable within one year40/41€152k€11k▼
Trade receivables40€131k€54▼
Other amounts receivable41€20k€11k▼
Cash at bank and in hand54/58€15k€95k▲
Equity and liabilities
Total equity and liabilities10/49€295k€225k▼
Equity10/15€-13k€-38k▼
Contributions10/11€19k€19k=
Reserves13€7k€7k=
Distributable reserves133€7k€7k=
Profit (loss) carried forward14€-39k€-64k▼
Amounts payable17/49€307k€263k▼
Amounts payable within one year42/48€307k€263k▼
Trade debts44€18k-
Suppliers440/4€18k-
Taxes, remuneration and social security45€21k€582▼
Taxes450/3€21k€582▼
Other amounts payable47/48€268k€262k▼
Accrued charges and deferred income492/3-€385
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€4k▲
Other operating charges640/8€93€671▲
Gross operating margin9900€-23k€-19k▲
Operating profit (loss)9901€-28k€-25k▲
Financial income75/76B€6k€4▼
Recurring financial income75€6k€4▼
Financial charges65/66B€233€354▲
Recurring financial charges65€233€354▲
Profit (loss) for the period before taxes9903€-22k€-25k▼
Profit (loss) for the period9904€-22k€-25k▼
Profit (loss) for the period to be appropriated9905€-22k€-25k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-39k€-64k▼
Profit (loss) brought forward from the previous period14P€-17k€-39k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €12k | €23k | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €4k | €4k | €4k | €4k | ▲ 5.6% |
| Other operating charges640/8 | €1k | €532 | €2k | €93 | €671 | ▲ 623% |
| Gross operating margin9900 | €43k | €26k | €-4k | €-23k | €-19k | ▲ 16.7% |
| Operating profit (loss)9901 | €28k | €-2k | €-10k | €-28k | €-25k | ▲ 11.2% |
| Financial income75/76B | €9k | €6 | €10 | €6k | €4 | ▼ 99.9% |
| Recurring financial income75 | €9k | €6 | €10 | €6k | €4 | ▼ 99.9% |
| Financial charges65/66B | €25k | €1k | €338 | €233 | €354 | ▲ 51.9% |
| Recurring financial charges65 | €25k | €1k | €338 | €233 | €354 | ▲ 51.9% |
| Profit (loss) for the period before taxes9903 | €12k | €-3k | €-11k | €-22k | €-25k | ▼ 13.1% |
| Income taxes67/77 | €6k | - | €4k | - | - | - |
| Profit (loss) for the period9904 | €7k | €-3k | €-14k | €-22k | €-25k | ▼ 13.1% |
| Profit (loss) for the period to be appropriated9905 | €7k | €-3k | €-14k | €-22k | €-25k | ▼ 13.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €730k | €291k | €286k | €295k | €225k | ▼ 23.5% |
| Fixed assets21/28 | €149k | €190k | €235k | €8k | €3k | ▼ 58.4% |
| Tangible fixed assets22/27 | €149k | €190k | €235k | €8k | €3k | ▼ 58.4% |
| Plant, machinery and equipment23 | €19k | €15k | €10k | €8k | €3k | ▼ 58.4% |
| Assets under construction and advance payments27 | €130k | €175k | €225k | - | - | - |
| Current assets29/58 | €581k | €101k | €51k | €287k | €222k | ▼ 22.6% |
| Stocks and contracts in progress3 | - | €9k | €10k | €121k | €116k | ▼ 4.1% |
| Stocks30/36 | - | €9k | €10k | €121k | €116k | ▼ 4.1% |
| Amounts receivable within one year40/41 | €39k | €37k | €40k | €152k | €11k | ▼ 92.7% |
| Trade receivables40 | €21k | €4k | €5k | €131k | €54 | ▼ 100.0% |
| Other amounts receivable41 | €18k | €33k | €36k | €20k | €11k | ▼ 46.1% |
| Cash at bank and in hand54/58 | €363k | €55k | €115 | €15k | €95k | ▲ 550% |
| Deferred charges and accrued income490/1 | €179k | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €730k | €291k | €286k | €295k | €225k | ▼ 23.5% |
| Equity10/15 | €26k | €23k | €9k | €-13k | €-38k | ▼ 194% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €7k | €7k | €7k | €7k | €7k | = |
| Distributable reserves133 | €7k | €7k | €7k | €7k | €7k | = |
| Profit (loss) carried forward14 | - | €-3k | €-17k | €-39k | €-64k | ▼ 63.6% |
| Amounts payable17/49 | €704k | €268k | €277k | €307k | €263k | ▼ 14.4% |
| Amounts payable within one year42/48 | €704k | €264k | €272k | €307k | €263k | ▼ 14.5% |
| Trade debts44 | €255k | €6k | €4k | €18k | - | - |
| Suppliers440/4 | €255k | €6k | €4k | €18k | - | - |
| Taxes, remuneration and social security45 | €91k | - | - | €21k | €582 | ▼ 97.2% |
| Taxes450/3 | €91k | - | - | €21k | €582 | ▼ 97.2% |
| Other amounts payable47/48 | €358k | €258k | €268k | €268k | €262k | ▼ 2.2% |
| Accrued charges and deferred income492/3 | - | €4k | €5k | - | €385 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7k | €-3k | €-14k | €-22k | €-25k | ▼ 13.1% |
| + Depreciation and write-downs630 | €2k | €4k | €4k | €4k | €4k | ▲ 5.6% |
| Operating cash flow (approximation) | €8k | €1k | €-10k | €-18k | €-20k | ▼ 14.9% |
| Investment in fixed assets (approximation) | - | €-45k | €-50k | €224k | €0 | ▼ 100% |
| Change in cash | - | €-308k | €-55k | €15k | €81k | ▲ 455% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-25k
Net result drops to €-25k, the lowest in the series.
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 18 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
24-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 24 days late
2019
31-12
Financial
Back to profitnet €13k
Net result €13k after one loss-making year.
12-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 12 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Laarne · 1 establishment unit since 2017
Ground area
2,391 m²
Building footprint
1,282 m²
Parcel 42009B0867/00G000, Flanders. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Bracq Bouwprojecten
since 20172.272.951.510
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42009B0867/00G000 | Flanders | 2,391 m² | 1 · 1,282 m² | 0.0 m |
Linked by address, not proof of ownership
Good to know
1 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 9,693 companies in sector 68121 we hold annual accounts for 7,385. 2,987 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-11-2017
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
41001General construction of residential buildings
Scores and ratios are computed by Checked and are not a credit decision.