CIRCLE TOPCO

Active

Private limited companyfounded 2025active for 1 yearTervuursevest 362/1, 3000 Leuven, BelgiumKBO/BCE: BE 1026.070.948

Summary

CIRCLE TOPCO has been active since 2025 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €227.1m and a net result of -€38,126. Its solvency ranks better than 95% of 3,849 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysisFollow Report Compare

CIRCLE TOPCOActiveChecked score 88/100

Risk analysis Report Compare

Activity

Activities of head offices

NACE 70100

7th largest company by equity in Leuven, Professional and technical services sector1 site

Size

€227.1mtotal assets 2025

Equity: €227.1m
Loss: -€38,126

Standalone figures, without subsidiaries

Financial health

88 Excellent Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.2%

Structure

Holdings: 1

Auditor: RSM INTERAUDIT2025 accounts 22 days early

Why 88raises riskLiquidity: current ratio 4.59, cash €21,187Founded in 2025lowers riskSector: Activities of head offices; management consultancy activities (NACE 70)Size: total assets €227.1m, files consolidated accountsShow the evidence

Checked score

Score 2025

88 / 100

Excellent

Probability in this band: under 0.55%

Financially better than 51% of its sector peers (NACE 70, large)

Every signal that counts is listed under Signals.

Financial strength

Strong

Solvency 100

equity 100.0% of total assets

Liquidity 50

short-term debt 0.0% · cash 0.0%

Profitability 37

return on assets 0.0%

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (205 companies, NACE 70, large)

Last 24 months 08-2026: 0.2%highest value 09-2026: 0.2%● unchanged vs 08-2026highest value 10-2026: 0.2%● unchanged vs 09-2026highest value

Credit of up to €19,950,000 on 30-day terms, only on tighter conditions: young company (under 3 years) without a track record

Liquidity ample (current ratio 4.59, above the usual 1.5; short-term debt: 0% and cash: 0% of total assets), and 0% of the assets are financed with debt and provisions.

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 70, large): better than 74% on solvency, 39% on liquidity and 40% on profitability.

The bankruptcy probability was computed on 24-10-2026 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

Five signals.

lowers riskraises riskneutral

Liquidity: current ratio 4.59, cash €21,187

NBB · annual accounts

Sector: Activities of head offices; management consultancy activities (NACE 70)

KBO

Size: total assets €227.1m, files consolidated accounts

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

Founded in 2025

Companies of this age fail more often than older ones; how much that weighs depends on the rest of its profile.

KBO

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-07-2026, 22 days ahead of the deadline.

NBB · 1 filing

Deviation from the deadline

2025

22 days early

← before the deadline after the deadline →

Searched, nothing found (1)

No strike-offs in the KBO publications

Searched since incorporation in 2025.

KBO publications · our coverage

10-07-2026 Annual accounts filedfinancial year 2025 · consolidated
09-07-2026 Annual accounts filedfinancial year 2025 · full…
22-09-2025 Appointment: RSM INTERAUDIT (statutory auditor)Permanent representative: Laurent Van der…

Key points

Positive: Among the best 5% on solvencysector median 53.4% · 3,849 companies 100.0% View
Founded 14 months agofounded 31-07-2025 14 months View
Board3 directors in office 3 View

By topic

Financials

Financial year: 2025
Total assets: €227.1m
Loss: -€38,126
Solvency: 100.0%

Go to Financials

Board & ownership

Board: 3 members
Auditor: RSM INTERAUDIT

WEICHER Morten GrubeDirector
KOVALEV ViktorDirector
POLLMAN Malte CasparDirector

Go to Board & ownership

Network & group

Subsidiaries, all levels: 2
Direct holdings: 1

2 subsidiaries

Go to Network & group

Timeline

Events: 5
Since: 2025

17-09-2025Appointments: KOVALEV Viktor (director) and POLLMAN Malte…
04-08-2025Incorporation

Go to Timeline

Company details

Sites: 1

Legal form: Private limited company
Activity: Activities of head officesNACE 70100
Founded: 31-07-2025
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 24

Who signs: Two directors jointly
Annual meeting: First Friday of May at 13:00
Purpose: “Het uitvoeren van holdingactiviteiten in de IT-sector; Uitsluitend in eigen naam en voor…” (deed in Dutch)

Go to Articles of association

Key facts about CIRCLE TOPCO

What is the company number of CIRCLE TOPCO?: 1026.070.948. In Belgium the VAT number is the company number with BE in front: BE 1026.070.948.
Where is CIRCLE TOPCO based?: The registered office is at Tervuursevest 362/1, 3000 Leuven.Company details
What does CIRCLE TOPCO do?: According to the KBO register, the main activity is activities of head offices (NACE 70100).
What is the legal form of CIRCLE TOPCO?: Private limited company (BV).
When was CIRCLE TOPCO founded?: On 31-07-2025.
Is CIRCLE TOPCO still active?: Yes, CIRCLE TOPCO is an active enterprise in the KBO register.
What is the turnover of CIRCLE TOPCO?: Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.Financials
Is CIRCLE TOPCO profitable?: In financial year 2025, CIRCLE TOPCO made a loss of €38,126.
Where can I find the annual accounts of CIRCLE TOPCO?: CIRCLE TOPCO filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.