CIRCLAIR
ActiveSummary
CIRCLAIR has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €892,759 and a net result of €85,227. Its solvency ranks better than 75% of 2,316 sector peers (NACE 25, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Staff
- 1 FTE
- Equity
- €892,759
- Profit
- €85,227
- Largest shareholder
- ANALEX · 33.33%
- Board
- 4 members
Why 95raises riskFounded in 2024lowers riskLiquidity: current ratio 2.69, cash €452,529Size: total assets €1.3mFigures for financial year 2025 (filed 01-07-2026)Show the evidence
Checked score
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 25, micro): better than 74% on solvency, 81% on liquidity and 56% on profitability.
The bankruptcy probability was computed on 28-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
Searched, nothing found (1)
- Annual accounts filedfinancial year 2025 · micro…
- MiscellaneousFinancial instrument · Capital increase…
- Appointment: Bart Van Looy (director)Gazette deed
Financials · financial year 2025, micro format
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Peer companies
Historical observationOf the 11,279 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 96.6% are still going.
- Micro
- under 2 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 11,279 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2025 |
|---|---|
| Remuneration, social security and pensions62 | €62,332 |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,163 |
| Other operating charges640/8 | €195 |
| Gross operating margin9900 | €174,373 |
| Operating profit (loss)9901 | €85,682 |
| Financial income75/76B | €3 |
| Recurring financial income75 | €3 |
| Financial charges65/66B | €406 |
| Recurring financial charges65 | €406 |
| Profit (loss) for the period before taxes9903 | €85,279 |
| Income taxes67/77 | €52 |
| Profit (loss) for the period9904 | €85,227 |
| Profit (loss) for the period to be appropriated9905 | €85,227 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €1.3m | |
| Fixed assets21/28 | €0.2m | |
| Intangible fixed assets21 | €0.2m | |
| Tangible fixed assets22/27 | €0.05m | |
| Plant, machinery and equipment23 | €0.05m | |
| Furniture and vehicles24 | €0.002m | |
| Financial fixed assets28 | €0.003m | |
| Current assets29/58 | €1.0m | |
| Amounts receivable within one year40/41 | €0.6m | |
| Trade receivables40 | €0.4m | |
| Other amounts receivable41 | €0.2m | |
| Cash at bank and in hand54/58 | €0.5m | |
| Deferred charges and accrued income490/1 | €0.001m | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €1.3m | |
| Equity10/15 | €0.9m | |
| Contributions10/11 | €0.6m | |
| Reserves13 | €0.09m | |
| Distributable reserves133 | €0.09m | |
| Investment grants15 | €0.2m | |
| Amounts payable17/49 | €0.4m | |
| Amounts payable within one year42/48 | €0.4m | |
| Trade debts44 | €0.2m | |
| Suppliers440/4 | €0.2m | |
| Advances received on contracts in progress46 | €0.2m | |
| Taxes, remuneration and social security45 | €0.03m | |
| Taxes450/3 | €0.02m | |
| Remuneration and social security454/9 | €0.01m | |
| Accrued charges and deferred income492/3 | €136 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | €85,227 |
| + Depreciation and write-downs630 | €26,163 |
| Operating cash flow (approximation) | €111,390 |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 01-07-2026 | 2026-00239418 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2025 · 2 entries · €272,101 awarded · €108,819 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Board 4
Permanent representatives 1
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| ANALEX |
|
| CROMBEZ Stijn |
|
| HOLLEVOET Lander |
|
| Bart Van Looy |
|
Owners and capital
Owners
1 ownerOwners 1
-
33.33%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- ANALEX 33,000 shares (33.3%) · €775,000
- CROMBEZ Stijn 33,000 shares (33.3%) · €300,000
- HOLLEVOET Lander 33,000 shares (33.3%) · €25,000
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 17-12-2024 Incorporation · €1,100,000 · 99,000 shares
Group and network
Connections & network
1 connected companyThe connected companies are in the list below.
History
Acts, filings and financial milestones
25-02
Gazette deed
MiscellaneousFinancial instrument · Capital increase · Power of attorney5 facts ▸
- General meeting, “buitengewone algemene vergadering, alle aandeelhouders aanwezig of geldig vertegenwoordigd” (deed in Dutch)
- Financial instrument, “Globaal Incentiveringsplan 2026”, 11000 (deed in Dutch)
- Capital increase
- Power of attorney
- Auditor report, “bijzonder verslag van het bestuursorgaan, artikel 5:122 WVV” (deed in Dutch)
24-10
Gazette deed
Appointment: Bart Van Looy (director)2 facts ▸
- General meeting, 09-09-2025
- Director appointment, Bart Van Looy (director (not named in the articles))
17-12
Gazette deed
IncorporationAppointments: ANALEX, CROMBEZ Stijn and HOLLEVOET Lander · Permanent representative: Walter Dumarey · Founder13 facts ▸
- Founder, ANALEX
- Founder, CROMBEZ Stijn
- Founder, HOLLEVOET Lander
- Incorporation, “Circlair” (deed in Dutch)
- Registered office clause, “2845 Niel,Galileilaan 15” (deed in Dutch)
- Founding capital, €1,100,000
- Bank account, “aan notaris overhandigd om in dossier bewaard te blijven, inbrengen in geld voorafgaandelijk gedeponeerd” (deed in Dutch)
- Director appointment, ANALEX (director)
- Director appointment, CROMBEZ Stijn (director)
- Director appointment, HOLLEVOET Lander (director)
- Permanent representative, Walter Dumarey
- Other provision, “bestuursverbod bestuurders, niet onderworpen noch in België noch in buitenland” (deed in Dutch)
- +1 further fact in this act
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11030C0277/00P000 | Flanders | 5,028 m² | 1 · 1,139 m² | 34.5 m |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- Circlair
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaamse Gewest, bij enkel besluit van het bestuursorgaan,administratieve zetels,agentschappen,werkhuizen,stapelplaatsen en bijkantoren in…” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, algemene vergadering die benoemt bepaalt aantal,duur en bij meerdere bevoegdheid” (deed in Dutch)“Volmacht aan ander lid voor welbepaalde vergadering via schriftelijk weergeefbaar middel met handtekening,mag meerdere collega's…” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Thursday of June at 18:00