CIRCLE-PROJECTS AD
Open bankruptcyA bankruptcy procedure is open for CIRCLE-PROJECTS AD according to publications in the Belgian State Gazette; curator: DIRK LEROUX.
Summary
The file additionally contains 1 administrative flag. The 2023 annual accounts show equity of €52,527 and a net result of €12,970.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Ghent, Ghent division
- Declared bankrupt
- 2 December 2025
- Supervising judge
- Johan De Vlieger
- Official Gazette
- 08-12-2025 (pdf) ↗search the document for 2025/150592
Deadlines
- Provisional date payments stopped
- 2 December 2025A later judgment can change the date.art. XX.105 CEL
- Appeal or third-party opposition until
- passed on 23 December 2025Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 1 January 2026art. XX.104 and XX.155 CEL
- First verification report
- passed on 6 January 2026Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- 2 December 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Dirk LerouxKortrijksesteenweg 1166, 9051 D Sint-Denijs-Westrem (Gent)dirk.leroux@dl-law.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 07-10-2024, 68 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
68 d late
2022
434 d late
2021
26 d late
2020
32 d early
2019
32 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 93 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?List enrichment
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, micro schema
Turnover
€46,754▲ 1,004%
2022 · €4,235
EBIT margin
27.9%▲ 2173.5pp
2022 · -2145.5%
Net result
€12,970
2022 · -€109,566
Working capital
€53,527▲ 32.0%
2022 · €40,557
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
Line20192020202120222023
Turnover€4,235€46,754▲ 1,004%
Operating result-€12,573▼ 38.6%€65,767€238,145▲ 262%-€90,862€13,047
Net result-€11,362▲ 63.3%€77,102€157,237▲ 104%-€109,566€12,970
EBIT margin-2145.5%27.9%▲ 2173.5pp
Equity-€85,216▼ 15.4%-€8,114▲ 90.5%€149,123€39,557▼ 73.5%€52,527▲ 32.8%
Total assets€423,309▲ 42.3%€1.4m▲ 231%€1.1m▼ 20.2%€48,248▼ 95.7%€61,845▲ 28.2%
Debt€508,524▲ 37.0%€1.4m▲ 177%€969,155▼ 31.3%€8,691▼ 99.1%€9,318▲ 7.2%
Working capital€6,674€36,978▲ 454%€300,499▲ 713%€40,557▼ 86.5%€53,527▲ 32.0%
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 2023: €13,047 after a loss of €90,862 in 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Equity and liabilities €61,845
Equity
€52,527 ▲ 32.8%
Debt
€9,318 ▲ 7.2%
Debt's share of the balance-sheet total falls from 18.0% to 15.1%. Equity and debt are higher.
Key figures and ratios
Current ratio
7.44▲
2022 · 6.27
Debt to equity
0.18▼
2022 · 0.22
ROE
24.7%▲
2022 · -277.0%
ROA
21.0%▲
2022 · -227.1%
Debt ≤ 1 year
€8,318▲
2022 · €7,691
Debt > 1 year
€1,000=
2022 · €1,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €4,235 | €46,754 | ▲ 1,004% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €64,657 | €29,058 | ▼ 55.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,300 | €2,961 | €21,676 | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €2,462 | - |
| Other operating charges640/8 | - | - | €2,670 | €2,755 | €2,187 | ▼ 20.6% |
| Non-recurring operating charges66A | - | - | - | €34,781 | - | - |
| Gross operating margin9900 | -€2,557 | €76,704 | €262,492 | -€53,326 | €17,696 | ▲ 133% |
| Operating profit (loss)9901 | -€12,573 | €65,767 | €238,145 | -€90,862 | €13,047 | ▲ 114% |
| Financial income75/76B | - | - | €12,090 | - | - | - |
| Recurring financial income75 | €17,308 | €10,585 | €12,090 | - | - | - |
| Financial charges65/66B | - | - | €34,048 | €18,307 | €77 | ▼ 99.6% |
| Recurring financial charges65 | €16,096 | €23,154 | €34,048 | €18,307 | €77 | ▼ 99.6% |
| Profit (loss) for the period before taxes9903 | -€11,362 | €77,153 | €216,188 | -€109,170 | €12,970 | ▲ 112% |
| Income taxes67/77 | - | €51 | €58,951 | €396 | - | - |
| Profit (loss) for the period9904 | -€11,362 | €77,102 | €157,237 | -€109,566 | €12,970 | ▲ 112% |
| Profit (loss) for the period to be appropriated9905 | -€11,362 | €77,102 | €157,237 | -€109,566 | €12,970 | ▲ 112% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €423,309 | €1.4m | €1.1m | €48,248 | €61,845 | ▲ 28.2% |
| Fixed assets21/28 | - | €105,421 | €83,745 | - | - | - |
| Tangible fixed assets22/27 | - | €105,421 | €83,745 | - | - | - |
| Leasing and similar rights25 | - | - | €83,745 | - | - | - |
| Current assets29/58 | €423,309 | €1.3m | €1.0m | €48,248 | €61,845 | ▲ 28.2% |
| Stocks and contracts in progress3 | €129,121 | €844,482 | - | - | - | - |
| Amounts receivable within one year40/41 | €271,074 | €281,733 | €1.0m | €28,846 | €54,514 | ▲ 89.0% |
| Trade receivables40 | - | - | €681,431 | €2,214 | €5,321 | ▲ 140% |
| Other amounts receivable41 | - | - | €352,734 | €26,632 | €49,193 | ▲ 84.7% |
| Cash at bank and in hand54/58 | €22,667 | €170,274 | €279 | €19,402 | €7,331 | ▼ 62.2% |
| Deferred charges and accrued income490/1 | - | - | €90 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €423,309 | €1.4m | €1.1m | €48,248 | €61,845 | ▲ 28.2% |
| Equity10/15 | -€85,216 | -€8,114 | €149,123 | €39,557 | €52,527 | ▲ 32.8% |
| Contributions10/11 | €18,600 | - | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €199 | €199 | €100,199 | €100,199 | €100,199 | = |
| Non-distributable reserves130/1 | - | - | €199 | €199 | €199 | = |
| Reserves not available under the articles1311 | - | - | €199 | €199 | €199 | = |
| Distributable reserves133 | - | - | €100,000 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | -€104,014 | -€26,913 | €30,324 | -€79,242 | -€66,272 | ▲ 16.4% |
| Amounts payable17/49 | €508,524 | €1.4m | €969,155 | €8,691 | €9,318 | ▲ 7.2% |
| Amounts payable after more than one year17 | €91,890 | €150,513 | €235,120 | €1,000 | €1,000 | = |
| Financial debts170/4 | - | - | €235,090 | - | - | - |
| Other amounts payable178/9 | - | - | €30 | €1,000 | €1,000 | = |
| Amounts payable within one year42/48 | €416,634 | €1.3m | €734,035 | €7,691 | €8,318 | ▲ 8.2% |
| Current portion of amounts payable after more than one year42 | - | - | €101,410 | - | - | - |
| Financial debts43 | - | - | €195,813 | - | - | - |
| Credit institutions430/8 | - | - | €195,813 | - | - | - |
| Trade debts44 | €52,816 | €549,259 | €153,478 | €6,866 | €1,337 | ▼ 80.5% |
| Suppliers440/4 | - | - | €153,478 | €6,866 | €1,337 | ▼ 80.5% |
| Taxes, remuneration and social security45 | - | - | - | €462 | €6,817 | ▲ 1,374% |
| Taxes450/3 | - | - | - | €462 | €6,817 | ▲ 1,374% |
| Other amounts payable47/48 | - | - | €283,334 | €362 | €164 | ▼ 54.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,362 | €77,102 | €157,237 | -€109,566 | €12,970 | ▲ 112% |
| + Depreciation and write-downs630 | €9,300 | €2,961 | €21,676 | - | - | - |
| Operating cash flow (approximation) | -€2,062 | €80,063 | €178,913 | -€109,566 | €12,970 | ▲ 112% |
| Investment in fixed assets (approximation) | - | - | €0 | - | - | - |
| Change in cash | - | €147,607 | -€169,995 | €19,123 | -€12,071 | ▼ 163% |
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
2025
08-12
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 02-12-2025
25-07
KBO administration
Address struck
2024
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
07-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 434 days late
2023
31-12
Financial
Back to profitnet €12,970
Net result €12,970 after one loss-making year.
2022
31-12
Financial
Weakest financial yearnet -€109,566
Net result drops to -€109,566, the lowest in the series.
31-12
Financial
Liquidity quadruplescurrent ratio 6.27
Current ratio from 1.41 to 6.27; short-term debt falls from €734,035 to €7,691.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-12
Financial
Highest result since 2018net €157,237 ▲104%
Operating result €238,145, net result €157,237, both a record.
31-12
Financial
Equity above €100,000Eq €149,123
2 profitable years in a row build equity to €149,123.
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €77,102
Net result €77,102 after 2 loss-making years.
Show earlier events
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
22-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 22 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
29-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
15-06
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Gent · 1 establishment unit since 2014
Ground area
1,390 m²
Building footprint
933 m²
Volume, LiDAR
16,399 m³
2 parcels, Flanders · tallest building 29.0 m, ±9 floors. Linked by address, not a title deed.
84
companies at this address
See who is registered here
1 establishment unit
Circle-Projects AD
since 20142.233.640.972
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44804D2709/00K008 | Flanders | 740 m² | 1 · 611 m² | 29.0 m · 9 fl. |
| 24025G0101/00C000 | Flanders | 649 m² | 1 · 322 m² | 15.5 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | DIRK LEROUX KORTRIJKSESTEENWEG 1166,
9051 D SINT-DENIJS-WESTREM (GENT) |
02-12-2025 → present |
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded24-04-2014
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.