CIRCACO
ActiveSummary
CIRCACO has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-139k) and a net result of €12k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 13% of 1526 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▲+23
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.15 against 0.42 in 2024; short-term debt: 74.1% and cash: 0.8% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 77
Relative position
BE, all sectors
reference
Rental and leasing activities (NACE 77)
about 44% more 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
-44.9%
Return on assets
3.9%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 1526 sector peers (2025).
NBB · sector comparisonPosition among 1526 sector peers
Solvency
better than 13%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-09-2026, 45 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 7 filingsDeviation from the deadline
2025
45 d late
2024
21 d late
2023
30 d late
2022
80 d late
2021
131 d late
2020
410 d late
2019
55 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
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, micro schema
Equity
€-139k▲ 8.0%
2024 · €-152k
Total assets
€311k▲ 6.7%
2024 · €291k
Net result
€12k
2024 · €-21k
Working capital
€36k
2024 · €-115k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€-90k▼ 119%€-71k▲ 21.5%€-41k▲ 42.4%€-14k▲ 64.5%€19k
Net result€-97k▼ 116%€-79k▲ 18.6%€-52k▲ 34.3%€-21k▲ 58.4%€12k
Equity€-60k€-78k▼ 30.0%€-130k▼ 65.8%€-152k▼ 16.5%€-139k▲ 8.0%
Total assets€375k▲ 1.4%€392k▲ 4.5%€327k▼ 16.6%€291k▼ 11.0%€311k▲ 6.7%
Debt€436k▲ 30.5%€471k▲ 8.1%€457k▼ 2.9%€443k▼ 3.2%€450k▲ 1.7%
Working capital€-119k€-110k▲ 7.0%€-94k▲ 14.7%€-115k▼ 21.9%€36k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €19k after a loss of €14k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €311k
Fixed assets
€45k ▼ 78.4%
Current assets
€266k ▲ 215%
Key figures and ratios
EBITDA
€36k▲
2024 · €32k
Cash flow
€29k▲
2024 · €25k
Solvency
-44.9%▲
2024 · -52.0%
Current ratio
1.15▲
2024 · 0.42
Quick ratio
0.86▲
2024 · 0.16
Debt to equity
-3.23▼
2024 · -2.92
ROA
3.9%▲
2024 · -7.4%
Interest coverage
5.31▲
2024 · 4.24
Debt ≤ 1 year
€230k▲
2024 · €199k
Debt > 1 year
€219k▼
2024 · €244k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €175 | €10k | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42k | €45k | €47k | €47k | €17k | ▼ 63.5% |
| Other operating charges640/8 | €2k | €3k | €4k | €2k | €2k | ▼ 12.8% |
| Non-recurring operating charges66A | - | - | - | - | €3k | - |
| Gross operating margin9900 | €-46k | €-22k | €10k | €35k | €41k | ▲ 18.1% |
| Operating profit (loss)9901 | €-90k | €-71k | €-41k | €-14k | €19k | ▲ 230% |
| Financial income75/76B | €5 | €360 | €16 | €631 | €0 | ▼ 99.9% |
| Recurring financial income75 | €5 | €360 | €16 | €631 | €0 | ▼ 99.9% |
| Financial charges65/66B | €6k | €8k | €6k | €8k | €7k | ▼ 11.3% |
| Recurring financial charges65 | €6k | €8k | €6k | €8k | €7k | ▼ 11.3% |
| Profit (loss) for the period before taxes9903 | €-97k | €-79k | €-47k | €-21k | €12k | ▲ 156% |
| Income taxes67/77 | - | - | €5k | €0 | - | - |
| Profit (loss) for the period9904 | €-97k | €-79k | €-52k | €-21k | €12k | ▲ 156% |
| Profit (loss) for the period to be appropriated9905 | €-97k | €-79k | €-52k | €-21k | €12k | ▲ 156% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €375k | €392k | €327k | €291k | €311k | ▲ 6.7% |
| Formation expenses20 | €363 | €145 | €0 | - | - | - |
| Fixed assets21/28 | €325k | €296k | €249k | €207k | €45k | ▼ 78.4% |
| Intangible fixed assets21 | €2k | €1k | €698 | €270 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €322k | €294k | €247k | €206k | €44k | ▼ 78.6% |
| Plant, machinery and equipment23 | €290k | €269k | €229k | €201k | €40k | ▼ 80.1% |
| Furniture and vehicles24 | €3k | €3k | €2k | €5k | €4k | ▼ 12.5% |
| Leasing and similar rights25 | €29k | €23k | €16k | €0 | - | - |
| Financial fixed assets28 | €750 | €750 | €750 | €750 | €750 | = |
| Current assets29/58 | €50k | €96k | €78k | €84k | €266k | ▲ 215% |
| Stocks and contracts in progress3 | €36k | €57k | €40k | €52k | €67k | ▲ 28.4% |
| Stocks30/36 | €36k | €57k | €40k | €52k | €67k | ▲ 28.4% |
| Amounts receivable within one year40/41 | €12k | €12k | €35k | €29k | €195k | ▲ 570% |
| Trade receivables40 | €12k | €11k | €35k | €29k | €195k | ▲ 572% |
| Other amounts receivable41 | €511 | €682 | €513 | €92 | €166 | ▲ 81.2% |
| Cash at bank and in hand54/58 | €1k | €27k | €3k | €3k | €2k | ▼ 14.4% |
| Deferred charges and accrued income490/1 | €979 | €363 | €0 | - | €916 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €375k | €392k | €327k | €291k | €311k | ▲ 6.7% |
| Equity10/15 | €-60k | €-78k | €-130k | €-152k | €-139k | ▲ 8.0% |
| Contributions10/11 | €162k | €222k | €222k | €222k | €222k | = |
| Profit (loss) carried forward14 | €-222k | €-300k | €-352k | €-374k | €-361k | ▲ 3.2% |
| Amounts payable17/49 | €436k | €471k | €457k | €443k | €450k | ▲ 1.7% |
| Amounts payable after more than one year17 | €265k | €263k | €285k | €244k | €219k | ▼ 10.0% |
| Financial debts170/4 | €264k | €236k | €258k | €217k | €193k | ▼ 11.2% |
| Trade debts175 | €2k | €2k | €2k | €2k | €2k | = |
| Other amounts payable178/9 | - | €25k | €25k | €25k | €25k | = |
| Amounts payable within one year42/48 | €169k | €207k | €172k | €199k | €230k | ▲ 15.8% |
| Current portion of amounts payable after more than one year42 | €30k | €28k | €6k | €16k | €16k | ▲ 2.4% |
| Financial debts43 | €4k | €0 | €12k | €26k | €27k | ▲ 1.6% |
| Credit institutions430/8 | €4k | €0 | €12k | €26k | €27k | ▲ 1.6% |
| Trade debts44 | €60k | €85k | €75k | €92k | €108k | ▲ 18.4% |
| Suppliers440/4 | €60k | €85k | €75k | €92k | €108k | ▲ 18.4% |
| Taxes, remuneration and social security45 | €2k | €3k | €7k | €10k | €36k | ▲ 270% |
| Taxes450/3 | €2k | €3k | €7k | €7k | €33k | ▲ 389% |
| Remuneration and social security454/9 | - | - | - | €3k | €3k | = |
| Other amounts payable47/48 | €73k | €91k | €72k | €56k | €43k | ▼ 22.4% |
| Accrued charges and deferred income492/3 | €1k | €1k | €0 | - | €403 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-97k | €-79k | €-52k | €-21k | €12k | ▲ 156% |
| + Depreciation and write-downs630 | €42k | €45k | €47k | €47k | €17k | ▼ 63.5% |
| Operating cash flow (approximation) | €-55k | €-33k | €-4k | €25k | €29k | ▲ 14.9% |
| Investment in fixed assets (approximation) | - | €-17k | €-145 | €-5k | €145k | ▲ 3,077% |
| Change in cash | - | €25k | €-23k | €-456 | €-397 | ▲ 12.8% |
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
14-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 45 days late
2025
31-12
Financial
Back to profitnet €12k
Net result €12k after 6 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 1.15
Current ratio from 0.42 to 1.15.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
19-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 80 days late
2022
09-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 131 days late
14-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 410 days late
2021
31-12
Financial
Weakest financial yearnet €-97k
Net result drops to €-97k, the lowest in the series; recovery starts the following year.
2020
31-12
Financial
Liquidity doublescurrent ratio 1.18
Current ratio from 0.54 to 1.18.
24-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 55 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Zwevegem · 1 establishment unit since 2018
Ground area
409 m²
Building footprint
269 m²
Volume, LiDAR
1,198 m³
Parcel 34042B0379/00Y000, Flanders · tallest building 5.8 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Brasserie Circus (CircaCo bv)
since 20182.279.314.512
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34042B0379/00Y000 | Flanders | 409 m² | 1 · 269 m² | 5.8 m · 1 fl. |
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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 679 EUR awarded · 491 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 679 EUR | 491 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteZwevegem2.279.314.512
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Of 881 companies in sector 77229 we hold annual accounts for 319. 217 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
Founded04-09-2018
Fiscal year end31-12
Activities, NACEBEL 2025
77229Renting and leasing of other personal and household goods
47252Retail sale of beverages, general range
82300Organisation of conventions and trade shows
82990Other business support services
Contact
Scores and ratios are computed by Checked and are not a credit decision.