Circulen
ActiveCirculen has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €28k and a net result of €-6k. Equity is growing by ~64.4% per year across the filed fiscal years. Its solvency ranks better than 47% of 20785 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
64
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability2▼-89
Solvency85▲+9
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity ample (current ratio 2.24 against 0.38 in 2023; short-term debt: 39.5% and cash: 65.3% of total assets), and 40.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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
Sector 62
lower
← fewer bankruptcies
more bankruptcies →
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 2024Solvency, return and age of the figures
Solvency
59.8%
Return on assets
-13.7%
Age of the figures
21 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-06-2025, 38 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
8 d early
2022
32 d early
2021
32 d early
2020
5 d early
2019
31 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€28k▼ 18.7%
2023 · €35k
2018: €16k
2019: €747
2020: €2k
2021: €13k
2022: €23k
2023: €35k
2018 → 2024
Total assets
€47k▼ 30.8%
2023 · €68k
2018: €22k
2019: €14k
2020: €14k
2021: €21k
2022: €36k
2023: €68k
2018 → 2024
Net result
€-6k
2023 · €12k
2018: €3k
2019: €-15k
2020: €1k
2021: €11k
2022: €10k
2023: €12k
2018 → 2024
Working capital
€23k
2023 · €-20k
2018: €15k
2019: €-793
2020: €-177
2021: €1k
2022: €17k
2023: €-20k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€2k-€13k▲ 575%€23k▲ 77.5%€35k▲ 52.2%€28k▼ 18.7%
Operating result€2k-€16k▲ 742%€15k▼ 8.1%€17k▲ 17.8%€-3k
Net result€1k-€11k▲ 848%€10k▼ 9.0%€12k▲ 21.1%€-6k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €3k after €17k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €47k
Fixed assets
€5k▼ 90.1%
Current assets
€42k▲ 227%
Equity and liabilities €47k
Equity
€28k▼ 18.7%
Debt
€19k▼ 43.3%
The debt ratio falls from 49.1% to 40.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-613▼
2023 · €23k
Cash flow
€-4k▼
2023 · €18k
Solvency
59.8%▲
2023 · 50.9%
Current ratio
2.24▲
2023 · 0.38
Quick ratio
2.24▲
2023 · 0.38
Debt / equity
0.67▼
2023 · 0.96
ROE
-23.0%▼
2023 · 34.7%
ROA
-13.7%▼
2023 · 17.7%
Interest coverage
-0.39▼
2023 · 145.29
Debt
€19k▼
2023 · €33k
Debt ≤ 1 year
€19k▼
2023 · €33k
Income taxes
€2k▼
2023 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€68k€47k▼
Fixed assets21/28€55k€5k▼
Tangible fixed assets22/27€55k€5k▼
Plant, machinery and equipment23€5k€4k▼
Furniture and vehicles24€50k€1k▼
Current assets29/58€13k€42k▲
Amounts receivable within one year40/41€11k€11k▲
Trade receivables40€10k€8k▼
Other amounts receivable41€100€3k▲
Cash at bank and in hand54/58€2k€31k▲
Equity and liabilities
Total equity and liabilities10/49€68k€47k▼
Equity10/15€35k€28k▼
Contributions10/11€13k€13k=
Reserves13€21k€21k=
Non-distributable reserves130/1€134-
Reserves not available under the articles1311€134-
Distributable reserves133€21k€21k▲
Profit (loss) carried forward14€414€-6k▼
Amounts payable17/49€33k€19k▼
Amounts payable within one year42/48€33k€19k▼
Trade debts44€2k€5k▲
Suppliers440/4€2k€5k▲
Taxes, remuneration and social security45€13k€10k▼
Taxes450/3€13k€10k▼
Other amounts payable47/48€17k€4k▼
Accrued charges and deferred income492/3€230€320▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€2k▼
Other operating charges640/8€230€11▼
Non-recurring operating charges66A€350€8k▲
Gross operating margin9900€23k€8k▼
Operating profit (loss)9901€17k€-3k▼
Financial income75/76B€1-
Recurring financial income75€1-
Financial charges65/66B€156€2k▲
Recurring financial charges65€156€2k▲
Profit (loss) for the period before taxes9903€17k€-4k▼
Income taxes67/77€5k€2k▼
Profit (loss) for the period9904€12k€-6k▼
Profit (loss) for the period to be appropriated9905€12k€-6k▼
Appropriation of the result
Profit (loss) to be appropriated9906€12k€-6k▼
Profit (loss) brought forward from the previous period14P€413€415▲
Transfer to equity691/2€12k-
To other reserves6921€12k-
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity times 6current ratio 2.24
Current ratio from 0.38 to 2.24; short-term debt falls from €33k to €19k.
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €12k ▲21.1%
Operating result €17k, net result €12k, both a record.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €1k
Net result €1k after one loss-making year.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €-15k ▼659%
Net result drops to €-15k, the lowest in the series; recovery starts the following year.
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Ardooie · 1 establishment unit since 2018
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Bloemgatstraat 58850 ArdooieGround area
2,202 m²
Building footprint
302 m²
Volume, LiDAR
1,345 m³
Parcel 36001C1069/00E002, Flanders · tallest building 7.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Bloemgatstraat 5, 8850 Ardooie
since 20182.272.543.318
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36001C1069/00E002 | Flanders | 2,202 m² | 1 · 302 m² | 7.9 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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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Of 16,887 companies in sector 62100 we hold annual accounts for 8,777. 6,279 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded29-01-2018
Fiscal year end31-12
Activities, NACEBEL
62010Computer programming, consultancy and related activities
62100Computer programming
62020IT consultancy
62030Computer programming, consultancy and related activities
62200Computer consultancy and computer facilities management
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.