Active BE 0772.907.876Private limited company

CIRCULAR

Galjoenstraat 12 ·9000 Gent, Belgium· 4 yrs active

Sector: Wholesale trade (46190)

Conclusion Checked

The computed 12-month bankruptcy probability of CIRCULAR is 1.6% (moderate). The 2024 annual accounts show equity of €168k and a net result of €6k. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 48% of 3323 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 3 annual accounts.

Key figures

Equity	€168k
Net result	€6k
Staff (FTE)	1.1
Better than sector	48%

Snowflake analysis 5 axes · computed by Checked

64 / 100

Strong profile, led by stability.

Health 74

Profitability 17

Solvency 56

Growth 78

Stability 94

Bankruptcy probability (12 mo) Checked model v1 · free

1.6% Moderate

0%0,5%1,5%4%10%≥25%

Young company +Higher-failure-rate sector +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 3 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad.

Administratively compliant

No FOD Economie strikeouts (UBO, accounts, address, activity).

Administrative Flags 0 events

No administrative flags

Health barometer FY 2024 · computed

74 / 100 Healthy

050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.

Financial overview3 NBB filings

Annual accounts filed on 16-07-2025 with the NBB · fiscal year 2024 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

stable Equity: stable across 3 fiscal years (±1.2%/year).

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 46, Wholesale trade · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	23.3%	25.2%	better than 48% of 3323 sector peers
Net result	€6k	€4k	better than 54% of 3311 sector peers
Equity	€168k	€23k	better than 88% of 3330 sector peers
Gross operating margin	€82k	€19k	better than 80% of 3297 sector peers
Staff costs	€68k	€27k	higher than 77% of 925 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

EBITDA

€13k

+153.2% -23% vs sector

Net profit

€6k

- +9% vs sector

Cash flow

€12k

+171.0% -5% vs sector

Total assets

€721k

+232.2% far above sector median

Equity

€168k

+3.5% +265% vs sector

Working capital

€613k

+307.0% far above sector median

Employees (FTE)

1

- 22-24

Staff costs

€68k

- +38% vs sector

Income taxes

€0

-100.0% -100% vs sector

Debt

€553k

+907.3% far above sector median

Debt ≤ 1y

€54k

+16.6% +27% vs sector

Debt > 1y

€3k

-66.6% -89% vs sector

Current ratio

12.34

+190.5% far above sector median

Quick ratio

12.34

+190.5% far above sector median

Solvency

23.3%

-68.8% -64% vs sector

Debt / equity

3.30

+873.4% +264% vs sector

ROE

3.4%

- -60% vs sector

ROA

0.8%

- -80% vs sector

Interest coverage

19.75

+104.3% far above sector median

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Revenue	-
EBITDA	€13k
Net profit	€6k
Cash flow	€12k
Staff costs	€68k
Income taxes	€0
Dividends	-
Total assets	€721k
Equity	€168k
Debt	€553k
of which ≤ 1y	€54k
of which > 1y	€3k
Working capital	€613k
Employees (FTE)	1.1

Ratios (computed)

	2024
Current ratio	12.34
Quick ratio	12.34
Working capital ratio	85.0%
Solvency	23.3%
Debt / equity	3.30
Long-term debt ratio	0.02
Interest coverage	19.75
Gross margin	-
Net margin	-
ROA	0.8%
ROE	3.4%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €54k · 7.5% Current assets €667k · 92.5%

Equity & liabilities

Equity €168k · 23.3% Debt €553k · 76.7%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€721k
Fixed assets	21/28	€54k
Intangible fixed assets	21	€38k
Tangible fixed assets	22/27	€15k
Current assets	29/58	€667k
Amounts receivable within one year	40/41	€88k
Cash & bank	54/58	€135k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€721k
Equity	10/15	€168k
Contributions / capital	10/11	€200k
Accumulated profits (losses)	14	€-32k
Amounts payable	17/49	€553k
Amounts payable after one year	17	€3k
Amounts payable within one year	42/48	€54k
Trade debts payable within one year	44	€31k
Income statement
Gross operating margin	9900	€82k
Operating result	9901	€6k
Financial income	75	€1
Financial charges	65	€652
Result before taxes	9903	€6k
Income taxes	67/77	€0
Net result for the period	9904	€6k
Result to be appropriated	9905	€6k

You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Legal Structure

NACE primary	Wholesale trade(46190)
Legal form	Private limited company(610)
Incorporation	26-08-2021
Status	Active
Postal code	9000

Establishment units 1 location

CIRCULAR

Galjoenstraat 12, 9000 GentHandelsbemiddeling in de niet-gespecialiseerde groothandel

since 20212.322.529.792

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
44807G0918/00X000	Flanders	227 m²	1 · 200 m²	2.8 m

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 4 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025

28-07-2025

State Gazette act Director changes

Anke VERHAEGEN

16-07-2025

NBB filing Annual accounts filed

fiscal year 2024 · micro

2024

18-07-2024

NBB filing Annual accounts filed

fiscal year 2023 · micro

2023

22-08-2023

NBB filing Annual accounts filed

fiscal year 2022 · micro

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 11 months ago

2025

28-07-2025 7 directors appointed, 6 resigning Director changes·Anke VERHAEGEN

Clean Energy Innovative Projects, Bestuurder
Anne Marie Keirse, Bestuurder
Dries Seuntjens, Bestuurder
Wouter Demuynck, Bestuurder
Samuël Debeer, Bestuurder
Pieter Declerck, Bestuurder
Dries Seuntjens, Dagelijks bestuur
Clean Energy Innovative Projects, Bestuurder

Notary: Anke VERHAEGEN · Puurs-Sint-Amands

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

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Company registry (CBE) Crossroads Bank

Activities

Handelsbemiddeling in goederen, algemeen assortiment46190Handelsbemiddeling in de niet-gespecialiseerde groothandel46190Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies70200Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering70220Vermogensbeheer66300Vermogensbeheer66300Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies70200Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering70220Overige zakelijke dienstverlening, n.e.g.82990Overige zakelijke dienstverlening, neg82990

Primary activity highlighted.

Names & trade names

Legal nameNL

CIRCULAR

Registered office

Galjoenstraat 12 bus 401

9000 Gent, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.

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