CIRCLE EU
ActiveSummary
CIRCLE EU is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show negative equity (-€20.9m) and a net result of €15,236. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 5% of 8074 sector peers (fiscal year 2025). The company has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 8074 sector peers (2025).
NBB · sector comparisonPosition among 8074 sector peers
Solvency
better than 5%
← weakest
strongest →
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 09-06-2026, 52 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
52 d early
2024
44 d early
2023
5 d early
2022
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 18 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#4 oldest company in Kapellen, Finance and insurance sector
Equity
-€20.9m▲ 0.1%
2024 · -€20.9m
Net result
€15,236
2024 · -€7,430
Total assets
€3,766▼ 95.1%
2024 · €76,131
Solvency
-553670.2%▼ 526262.5pp
2024 · -27407.6%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Operating result-€10,366--€4,827▲ 53.4%-€7,158▼ 48.3%€15,299
Net result-€10,366below the sector's middle half--€4,827below the sector's middle half▲ 53.4%-€7,430below the sector's middle half▼ 53.9%€15,236within the sector's middle half
Equity-€20.9mbelow the sector's middle half--€20.9mbelow the sector's middle half=-€20.9mbelow the sector's middle half=-€20.9mbelow the sector's middle half▲ 0.1%
Total assets€196below the sector's middle half-€169,381below the sector's middle half▲ 86,474%€76,131below the sector's middle half▼ 55.1%€3,766below the sector's middle half▼ 95.1%
Debt€20.9m-€21.0m▲ 0.8%€20.9m▼ 0.4%€20.9m▼ 0.4%
Working capital-€104,904--€109,731▼ 4.6%-€117,160▼ 6.8%-€101,924▲ 13.0%
Solvency-10658506.2%below the sector's middle half--12314.3%below the sector's middle half▲ 10646191.9pp-27407.6%below the sector's middle half▼ 15093.3pp-553670.2%below the sector's middle half▼ 526262.5pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
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 returns to profit in 2025: €15,299 after a loss of €7,158 in 2024, the highest result in the available series.
Key figures and ratios
Debt ≤ 1 year
€105,690▼
2024 · €193,291
Debt > 1 year
€20.7m=
2024 · €20.7m
Income taxes
€0▼
2024 · €1
Ratios withheld: a balance sheet total of €3,766 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Other operating charges640/8 | €883 | €493 | €505 | €852 | ▲ 68.5% |
| Gross operating margin9900 | -€9,484 | -€4,333 | -€6,653 | €16,150 | ▲ 343% |
| Operating profit (loss)9901 | -€10,366 | -€4,827 | -€7,158 | €15,299 | ▲ 314% |
| Financial income75/76B | - | - | €2 | €0 | ▼ 100% |
| Recurring financial income75 | - | - | €2 | €0 | ▼ 100% |
| Financial charges65/66B | €0 | - | €273 | €63 | ▼ 77.0% |
| Recurring financial charges65 | €0 | - | €273 | €63 | ▼ 77.0% |
| Profit (loss) for the period before taxes9903 | -€10,366 | -€4,827 | -€7,429 | €15,236 | ▲ 305% |
| Income taxes67/77 | - | - | €1 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | -€10,366 | -€4,827 | -€7,430 | €15,236 | ▲ 305% |
| Profit (loss) for the period to be appropriated9905 | -€10,366 | -€4,827 | -€7,430 | €15,236 | ▲ 305% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €196 | €169,381 | €76,131 | €3,766 | ▼ 95.1% |
| Current assets29/58 | €196 | €169,381 | €76,131 | €3,766 | ▼ 95.1% |
| Amounts receivable within one year40/41 | €196 | €169,381 | €75,589 | €3,539 | ▼ 95.3% |
| Trade receivables40 | - | €168,294 | €74,883 | €3,497 | ▼ 95.3% |
| Other amounts receivable41 | €196 | €1,088 | €706 | €42 | ▼ 94.1% |
| Cash at bank and in hand54/58 | €0 | - | €542 | €227 | ▼ 58.0% |
| Deferred charges and accrued income490/1 | €0 | - | - | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €196 | €169,381 | €76,131 | €3,766 | ▼ 95.1% |
| Equity10/15 | -€20.9m | -€20.9m | -€20.9m | -€20.9m | ▲ 0.1% |
| Contributions10/11 | €3.6m | €3.6m | €3.6m | €3.6m | = |
| Capital10 | €3.6m | €3.6m | €3.6m | €3.6m | = |
| Issued capital100 | €3.6m | €3.6m | €3.6m | €3.6m | = |
| Reserves13 | €355,640 | €355,640 | €355,640 | €355,640 | = |
| Non-distributable reserves130/1 | €355,640 | €355,640 | €355,640 | €355,640 | = |
| Legal reserve130 | €355,640 | €355,640 | €355,640 | €355,640 | = |
| Profit (loss) carried forward14 | -€24.8m | -€24.8m | -€24.8m | -€24.8m | ▲ 0.1% |
| Provisions and deferred taxes16 | €0 | - | - | - | - |
| Provisions for liabilities and charges160/5 | €0 | - | - | - | - |
| Other liabilities and charges164/5 | €0 | - | - | - | - |
| Amounts payable17/49 | €20.9m | €21.0m | €20.9m | €20.9m | ▼ 0.4% |
| Amounts payable after more than one year17 | €20.7m | €20.7m | €20.7m | €20.7m | = |
| Financial debts170/4 | €20.7m | €20.7m | €20.7m | €20.7m | = |
| Amounts payable within one year42/48 | €105,100 | €279,112 | €193,291 | €105,690 | ▼ 45.3% |
| Trade debts44 | €102 | €168,000 | €71,585 | €400 | ▼ 99.4% |
| Suppliers440/4 | €102 | €168,000 | €71,585 | €400 | ▼ 99.4% |
| Other amounts payable47/48 | €104,998 | €111,112 | €121,706 | €105,290 | ▼ 13.5% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€10,366 | -€4,827 | -€7,430 | €15,236 | ▲ 305% |
| Operating cash flow (approximation) | -€10,366 | -€4,827 | -€7,430 | €15,236 | ▲ 305% |
| Change in cash | - | - | - | -€314 | - |
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
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €15,236
Net result €15,236 after 3 loss-making years.
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Kapellen · 1 establishment unit since 2022
Ground area
348 m²
Building footprint
223 m²
Volume, LiDAR
2,017 m³
Parcel 11902G0018/00M002, Flanders · tallest building 10.0 m, ±3 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
CIRCLE EU
since 20222.330.937.813
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11902G0018/00M002 | Flanders | 348 m² | 1 · 223 m² | 10.0 m · 3 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 24,729 companies in sector 64210 we hold annual accounts for 19,799. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded19-06-1989
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0779912266
Registered
07-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.