Circuit
ActiveSummary
Circuit has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €101,020 and a net result of -€560. Equity is growing by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 34% of 17123 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▲+14
Solvency65▼-3
Growth68=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 1.54 against 1.57 in 2024; short-term debt: 47.8% and cash: 12.5% of total assets), but 60.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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
39.8%
Return on assets
-0.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-08-2026, 11 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 · 6 filingsDeviation from the deadline
2025
11 d late
2024
62 d late
2023
29 d early
2022
45 d early
2021
26 d early
2020
44 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 12 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% 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
26-09-2026 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 Can you accept this company as a client under the anti-money-laundering law?AML client file What other support did companies like this one receive, and it did not?Subsidy mirror How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€804,455▲ 37.8%
2023 · €583,720
EBIT margin
0.2%▼ 7.4pp
2023 · 7.6%
Net result
-€560▲ 0.8%
2024 · -€565
Working capital
€65,864▼ 15.5%
2024 · €77,982
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
Turnover€374,931▲ 34.6%€480,471▲ 28.1%€583,720▲ 21.5%€804,455▲ 37.8%
Operating result€19,809▼ 70.5%€8,684▼ 56.2%€44,558▲ 413%€1,689▼ 96.2%€3,134▲ 85.5%
Net result€10,481▼ 78.8%€5,800▼ 44.7%€28,927▲ 399%-€565-€560▲ 0.8%
EBIT margin5.3%▼ 18.8pp1.8%▼ 3.5pp7.6%▲ 5.8pp0.2%▼ 7.4pp
Equity€89,917▲ 13.2%€95,718▲ 6.5%€124,645▲ 30.2%€101,580▼ 18.5%€101,020▼ 0.6%
Total assets€122,217▲ 6.9%€146,751▲ 20.1%€196,563▲ 33.9%€237,438▲ 20.8%€253,587▲ 6.8%
Debt€32,299▼ 7.3%€51,034▲ 58.0%€71,918▲ 40.9%€135,858▲ 88.9%€152,567▲ 12.3%
Working capital€83,518▲ 11.4%€77,607▼ 7.1%€95,499▲ 23.1%€77,982▼ 18.3%€65,864▼ 15.5%
Staff (FTE)0.81▲ 25.0%2▲ 100%2=
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 86% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €253,587
Fixed assets
€66,596 ▲ 182%
Current assets
€186,991 ▼ 12.6%
Equity and liabilities €253,587
Equity
€101,020 ▼ 0.6%
Debt
€152,567 ▲ 12.3%
Debt's share of the balance-sheet total rises from 57.2% to 60.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€17,620▲
2024 · €13,166
Cash flow
€13,925▲
2024 · €10,911
Current ratio
1.54▼
2024 · 1.57
Debt to equity
1.51▲
2024 · 1.34
ROE
-0.6%▲
2024 · -0.6%
ROA
-0.2%▲
2024 · -0.2%
Interest coverage
7.97▼
2024 · 13.11
Debt ≤ 1 year
€121,127▼
2024 · €135,858
Debt > 1 year
€31,440
Income taxes
€1,483▲
2024 · €1,250
Staff costs
€147,882▲
2024 · €127,065
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 |
|---|---|---|---|---|---|---|
| Turnover70 | €374,931 | €480,471 | €583,720 | €804,455 | - | - |
| Non-recurring operating income76A | - | - | €0 | €0 | €3,935 | - |
| Goods, raw materials, services and sundry goods60/61 | €353,837 | €403,279 | €445,423 | €666,448 | - | - |
| Remuneration, social security and pensions62 | - | €65,498 | €88,479 | €127,065 | €147,882 | ▲ 16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,223 | €3,962 | €7,246 | €11,476 | €14,485 | ▲ 26.2% |
| Other operating charges640/8 | €62 | €159 | €234 | €283 | €169 | ▼ 40.2% |
| Gross operating margin9900 | €21,094 | €78,303 | €140,517 | €140,514 | €165,671 | ▲ 17.9% |
| Operating profit (loss)9901 | €19,809 | €8,684 | €44,558 | €1,689 | €3,134 | ▲ 85.5% |
| Financial income75/76B | €0 | €2 | €50 | €0 | - | - |
| Recurring financial income75 | €0 | €2 | €50 | €0 | - | - |
| Financial charges65/66B | €80 | €719 | €1,276 | €1,005 | €2,212 | ▲ 120% |
| Recurring financial charges65 | €80 | €719 | €1,276 | €1,005 | €2,212 | ▲ 120% |
| Profit (loss) for the period before taxes9903 | €19,729 | €7,966 | €43,332 | €685 | €923 | ▲ 34.8% |
| Income taxes67/77 | €9,248 | €2,166 | €14,405 | €1,250 | €1,483 | ▲ 18.7% |
| Profit (loss) for the period9904 | €10,481 | €5,800 | €28,927 | -€565 | -€560 | ▲ 0.8% |
| Profit (loss) for the period to be appropriated9905 | €10,481 | €5,800 | €28,927 | -€565 | -€560 | ▲ 0.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €122,217 | €146,751 | €196,563 | €237,438 | €253,587 | ▲ 6.8% |
| Fixed assets21/28 | €6,399 | €18,493 | €29,146 | €23,598 | €66,596 | ▲ 182% |
| Tangible fixed assets22/27 | €6,399 | €18,493 | €29,146 | €23,598 | €66,596 | ▲ 182% |
| Plant, machinery and equipment23 | - | - | - | - | €3,891 | - |
| Furniture and vehicles24 | €6,399 | €18,493 | €29,146 | €23,598 | €17,598 | ▼ 25.4% |
| Leasing and similar rights25 | - | - | - | - | €45,107 | - |
| Current assets29/58 | €115,818 | €128,259 | €167,417 | €213,841 | €186,991 | ▼ 12.6% |
| Amounts receivable within one year40/41 | €90,453 | €109,847 | €103,898 | €128,672 | €154,052 | ▲ 19.7% |
| Trade receivables40 | €83,209 | €91,455 | €91,305 | €127,922 | €142,431 | ▲ 11.3% |
| Other amounts receivable41 | €7,244 | €18,393 | €12,593 | €750 | €11,621 | ▲ 1,449% |
| Cash at bank and in hand54/58 | €22,772 | €13,320 | €57,621 | €80,594 | €31,655 | ▼ 60.7% |
| Deferred charges and accrued income490/1 | €2,592 | €5,091 | €5,898 | €4,575 | €1,284 | ▼ 71.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €122,217 | €146,751 | €196,563 | €237,438 | €253,587 | ▲ 6.8% |
| Equity10/15 | €89,917 | €95,718 | €124,645 | €101,580 | €101,020 | ▼ 0.6% |
| Contributions10/11 | €30,000 | €30,000 | €30,000 | €7,500 | €7,500 | = |
| Reserves13 | €59,917 | €65,718 | €94,645 | €94,645 | €94,645 | = |
| Distributable reserves133 | €59,917 | €65,718 | €94,645 | €94,645 | €94,645 | = |
| Profit (loss) carried forward14 | - | - | - | -€565 | -€1,125 | ▼ 99.2% |
| Amounts payable17/49 | €32,299 | €51,034 | €71,918 | €135,858 | €152,567 | ▲ 12.3% |
| Amounts payable after more than one year17 | - | - | - | - | €31,440 | - |
| Financial debts170/4 | - | - | - | - | €31,440 | - |
| Amounts payable within one year42/48 | €32,299 | €50,652 | €71,918 | €135,858 | €121,127 | ▼ 10.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €9,910 | - |
| Trade debts44 | €26,383 | €39,550 | €57,513 | €103,964 | €97,767 | ▼ 6.0% |
| Suppliers440/4 | €26,383 | €39,550 | €57,513 | €103,964 | €97,767 | ▼ 6.0% |
| Taxes, remuneration and social security45 | €5,917 | €11,101 | €14,405 | €31,894 | €13,449 | ▼ 57.8% |
| Taxes450/3 | €5,917 | €6,467 | €14,405 | €16,758 | €13,449 | ▼ 19.7% |
| Remuneration and social security454/9 | - | €4,635 | €0 | €15,136 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | €382 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,481 | €5,800 | €28,927 | -€565 | -€560 | ▲ 0.8% |
| + Depreciation and write-downs630 | €1,223 | €3,962 | €7,246 | €11,476 | €14,485 | ▲ 26.2% |
| Operating cash flow (approximation) | €11,705 | €9,763 | €36,174 | €10,911 | €13,925 | ▲ 27.6% |
| Investment in fixed assets (approximation) | - | -€16,056 | -€17,900 | -€5,928 | -€57,483 | ▼ 870% |
| Change in cash | - | -€9,452 | €44,300 | €22,973 | -€48,938 | ▼ 313% |
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
11-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 11 days late
2025
01-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 62 days late
2024
31-12
Financial
Weakest financial yearnet -€565
Net result drops to -€565, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €100,000Eq €124,645 ▲30.2%
4 profitable years in a row build equity to €124,645.
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Hasselt · 1 establishment unit since 2020
Ground area
2,101 m²
Building footprint
599 m²
Volume, LiDAR
4,299 m³
Parcel 71326F0199/00P000, Flanders · tallest building 14.8 m, ±1 floor. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Circuit
since 20202.298.243.665
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71326F0199/00P000 | Flanders | 2,101 m² | 1 · 599 m² | 14.8 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.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 120 EUR awarded · 120 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 120 EUR | 120 EUR |
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Of 30,007 companies in sector 62200 we hold annual accounts for 18,394. 15,563 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
Founded15-01-2020
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
Contact
Website
www.circuit.black
E-mail
info@circuit.black
Scores and ratios are computed by Checked and are not a credit decision.