CIRCUMFLEX
ActiveSummary
CIRCUMFLEX has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€597,621) and a net result of -€342,175. Equity is shrinking by ~39.4% per year across the filed fiscal years. Its solvency ranks better than 9% of 465 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability18▼-5
Solvency13▼-8
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.3 against 1.64 in 2024; short-term debt: 31.8% and cash: 6.4% of total assets), and equity is negative.
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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 87
Relative position
BE, all sectors
reference
Residential care activities (NACE 87)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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
-11.5%
Return on assets
-6.6%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€597,621
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
2 d early
2023
2 d early
2022
48 d early
2021
2 d early
2020
31 d late
2019
61 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 5 days after the deadline; the sector median for financial year 2024 is 27 days before the deadline, and 24% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#8 fastest grower in Genk, Health and social work sector
Equity
-€597,621▼ 175%
2024 · -€217,359
Total assets
€5.2m▼ 6.2%
2024 · €5.5m
Net result
-€342,175▼ 35.1%
2024 · -€253,197
Working capital
€494,550▼ 40.9%
2024 · €836,255
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
Operating result-€67,282€107,249€17,207▼ 84.0%-€101,978-€217,417▼ 113%
Net result-€242,447▼ 167%-€47,723▲ 80.3%-€131,977▼ 177%-€253,197▼ 91.8%-€342,175▼ 35.1%
Equity€329,801▼ 46.0%€243,991▼ 26.0%€73,926▼ 69.7%-€217,359-€597,621▼ 175%
Total assets€6.3m▼ 9.2%€6.0m▼ 4.5%€5.8m▼ 4.0%€5.5m▼ 4.7%€5.2m▼ 6.2%
Debt€5.9m▼ 5.6%€5.7m▼ 3.2%€5.6m▼ 1.0%€5.6m▲ 0.5%€5.7m▲ 0.9%
Working capital€1.4m€1.1m▼ 17.5%€1.0m▼ 10.1%€836,255▼ 18.9%€494,550▼ 40.9%
Staff (FTE)47.3▲ 5.1%47.8▲ 1.1%49.3▲ 3.1%52▲ 5.5%52.5▲ 1.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €217,417 in 2025 against €101,978 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.2m
Fixed assets
€3.0m ▼ 10.1%
Current assets
€2.1m ▼ 0.1%
Key figures and ratios
EBITDA
€172,608▼
2024 · €287,406
Cash flow
€47,850▼
2024 · €136,187
Solvency
-11.5%▼
2024 · -3.9%
Current ratio
1.30▼
2024 · 1.64
Quick ratio
1.29▼
2024 · 1.61
Debt to equity
-9.54▲
2024 · -25.98
ROA
-6.6%▼
2024 · -4.6%
Interest coverage
0.85▼
2024 · 1.17
Debt ≤ 1 year
€1.6m▲
2024 · €1.3m
Debt > 1 year
€4.1m▼
2024 · €4.3m
Income taxes
-€5,085▼
2024 · €1,489
Staff costs
€3.5m▲
2024 · €3.4m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 128 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Medium-sized
- 10 to 20 years old
- negative equity
- a small loss
1.6%
went bankrupt
2.3%
stopped otherwise
95%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 128 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €12,045 | - | €4,882 | - | - | - |
| Remuneration, social security and pensions62 | €2.5m | €2.8m | €3.2m | €3.4m | €3.5m | ▲ 2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €417,620 | €418,558 | €390,649 | €389,384 | €390,025 | ▲ 0.2% |
| Other operating charges640/8 | €39,348 | €38,179 | €48,329 | €46,909 | €12,018 | ▼ 74.4% |
| Non-recurring operating charges66A | - | - | €2,304 | - | - | - |
| Gross operating margin9900 | €2.9m | €3.4m | €3.6m | €3.8m | €3.7m | ▼ 1.8% |
| Operating profit (loss)9901 | -€67,282 | €107,249 | €17,207 | -€101,978 | -€217,417 | ▼ 113% |
| Financial income75/76B | €42,871 | €53,849 | €61,288 | €81,254 | €58,617 | ▼ 27.9% |
| Recurring financial income75 | €42,871 | €53,849 | €61,288 | €81,254 | €58,617 | ▼ 27.9% |
| Financial charges65/66B | €231,397 | €222,105 | €223,390 | €244,896 | €202,375 | ▼ 17.4% |
| Recurring financial charges65 | €231,397 | €222,105 | €223,390 | €244,896 | €201,885 | ▼ 17.6% |
| Non-recurring financial charges66B | - | - | - | - | €490 | - |
| Profit (loss) for the period before taxes9903 | -€255,808 | -€61,007 | -€144,894 | -€265,621 | -€361,175 | ▼ 36.0% |
| Transfer from deferred taxes780 | €13,913 | €13,913 | €13,913 | €13,913 | €13,916 | = |
| Income taxes67/77 | €551 | €628 | €996 | €1,489 | -€5,085 | ▼ 442% |
| Profit (loss) for the period9904 | -€242,447 | -€47,723 | -€131,977 | -€253,197 | -€342,175 | ▼ 35.1% |
| Profit (loss) for the period to be appropriated9905 | -€242,447 | -€47,723 | -€131,977 | -€253,197 | -€342,175 | ▼ 35.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6.3m | €6.0m | €5.8m | €5.5m | €5.2m | ▼ 6.2% |
| Fixed assets21/28 | €4.4m | €4.1m | €3.8m | €3.4m | €3.0m | ▼ 10.1% |
| Tangible fixed assets22/27 | €4.4m | €4.1m | €3.8m | €3.4m | €3.0m | ▼ 10.1% |
| Land and buildings22 | €4.4m | €4.0m | €3.7m | €3.3m | €2.9m | ▼ 10.8% |
| Plant, machinery and equipment23 | €48,351 | €25,009 | €46,089 | €42,946 | €57,892 | ▲ 34.8% |
| Furniture and vehicles24 | €43,543 | €43,424 | €53,612 | €40,538 | €41,933 | ▲ 3.4% |
| Financial fixed assets28 | €600 | €600 | €600 | €600 | €600 | = |
| Current assets29/58 | €1.9m | €1.9m | €2.0m | €2.1m | €2.1m | ▼ 0.1% |
| Amounts receivable after more than one year29 | €181,500 | €571,500 | €571,500 | - | - | - |
| Trade receivables290 | €181,500 | €571,500 | €571,500 | - | - | - |
| Stocks and contracts in progress3 | €26,230 | €26,230 | €35,770 | €35,770 | €17,970 | ▼ 49.8% |
| Stocks30/36 | €26,230 | €26,230 | €35,770 | €35,770 | €17,970 | ▼ 49.8% |
| Amounts receivable within one year40/41 | €643,348 | €436,013 | €724,340 | €306,544 | €618,459 | ▲ 102% |
| Trade receivables40 | €560,565 | €324,410 | €323,638 | €304,721 | €254,721 | ▼ 16.4% |
| Other amounts receivable41 | €82,783 | €111,603 | €400,702 | €1,823 | €363,738 | ▲ 19,856% |
| Current investments50/53 | - | - | - | - | €1.0m | - |
| Cash at bank and in hand54/58 | €833,219 | €680,968 | €424,480 | €1.6m | €331,710 | ▼ 79.1% |
| Deferred charges and accrued income490/1 | €190,198 | €228,374 | €278,400 | €212,095 | €173,608 | ▼ 18.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6.3m | €6.0m | €5.8m | €5.5m | €5.2m | ▼ 6.2% |
| Equity10/15 | €329,801 | €243,991 | €73,926 | -€217,359 | -€597,621 | ▼ 175% |
| Contributions10/11 | €206,200 | €206,200 | €206,200 | €206,200 | €206,200 | = |
| Reserves13 | €93,224 | €93,224 | €93,224 | €93,224 | €93,224 | = |
| Non-distributable reserves130/1 | €21,860 | €21,860 | €21,860 | €17,534 | €17,534 | = |
| Reserves not available under the articles1311 | €21,860 | €21,860 | €21,860 | €17,534 | €17,534 | = |
| Distributable reserves133 | €71,364 | €71,364 | €71,364 | €75,690 | €75,690 | = |
| Profit (loss) carried forward14 | -€333,135 | -€380,858 | -€512,835 | -€766,032 | -€1.1m | ▼ 44.7% |
| Investment grants15 | €363,513 | €325,425 | €287,338 | €249,250 | €211,163 | ▼ 15.3% |
| Provisions and deferred taxes16 | €134,625 | €120,713 | €106,800 | €92,888 | €78,972 | ▼ 15.0% |
| Deferred taxes168 | €134,625 | €120,713 | €106,800 | €92,888 | €78,972 | ▼ 15.0% |
| Amounts payable17/49 | €5.9m | €5.7m | €5.6m | €5.6m | €5.7m | ▲ 0.9% |
| Amounts payable after more than one year17 | €5.4m | €4.9m | €4.6m | €4.3m | €4.1m | ▼ 6.6% |
| Financial debts170/4 | €5.4m | €4.9m | €4.6m | €4.3m | €4.1m | ▼ 6.6% |
| Amounts payable within one year42/48 | €485,230 | €796,597 | €1.0m | €1.3m | €1.6m | ▲ 26.0% |
| Current portion of amounts payable after more than one year42 | €174,380 | €173,122 | €62,190 | €88,006 | €298,787 | ▲ 240% |
| Financial debts43 | - | €254,034 | €262,408 | €274,921 | - | - |
| Credit institutions430/8 | - | €254,034 | €262,408 | €274,921 | - | - |
| Trade debts44 | €189,376 | €218,515 | €126,292 | €176,728 | €325,036 | ▲ 83.9% |
| Suppliers440/4 | €189,376 | €218,515 | €126,292 | €176,728 | €325,036 | ▲ 83.9% |
| Taxes, remuneration and social security45 | €121,473 | €150,926 | €552,450 | €533,919 | €590,150 | ▲ 10.5% |
| Taxes450/3 | €613 | €1,179 | €73,421 | - | - | - |
| Remuneration and social security454/9 | €120,861 | €149,747 | €479,029 | €533,919 | €590,150 | ▲ 10.5% |
| Other amounts payable47/48 | - | - | - | €233,223 | €433,223 | ▲ 85.8% |
| Accrued charges and deferred income492/3 | - | - | - | €1,400 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€242,447 | -€47,723 | -€131,977 | -€253,197 | -€342,175 | ▼ 35.1% |
| + Depreciation and write-downs630 | €417,620 | €418,558 | €390,649 | €389,384 | €390,025 | ▲ 0.2% |
| Operating cash flow (approximation) | €175,173 | €370,836 | €258,671 | €136,187 | €47,850 | ▼ 64.9% |
| Investment in fixed assets (approximation) | - | -€63,613 | -€59,601 | -€5,561 | -€49,826 | ▼ 796% |
| Change in cash | - | -€152,252 | -€256,488 | €1.2m | -€1.3m | ▼ 208% |
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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€342,175
Net result drops to -€342,175, the lowest in the series.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity times 11current ratio 3.86
Current ratio from 0.35 to 3.86; short-term debt falls from €6.2m to €485,230.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 61 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Genk · 1 establishment unit since 2008
Ground area
3,906 m²
Building footprint
1,330 m²
Volume, LiDAR
16,688 m³
Parcel 71307H0034/00L220, Flanders · tallest building 18.7 m, ±5 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
CIRCUMFLEX
since 20082.171.012.527
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71307H0034/00L220 | Flanders | 3,906 m² | 1 · 1,330 m² | 18.7 m · 5 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
2022 to 2025 · 6 entries · 2,421,514 EUR awarded · 2,421,514 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,335,166 EUR | 2,335,166 EUR |
| 2024 | 1 | 781 EUR | 15,901 EUR |
| 2023 | 2 | 45,696 EUR | 30,576 EUR |
| 2022 | 2 | 39,871 EUR | 39,871 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteGenk2.171.012.527
Care and welfare
1 serviceDe Vierde Wand
Dual-learning approval
1 live approval · 3 endedVerzorgende/Zorgkundige duaal (so)
Show 3 ended approvals
Logistiek helper in de zorginstellingen (so)
Verzorgende (so)
Verzorgende/zorgkundige (so)
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Of 601 companies in sector 87301 we hold annual accounts for 493. 197 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
Founded16-04-2008
Fiscal year end31-12
Activities, NACEBEL 2025
87301Residential care activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0897452809
Also
9925:BE0897452809
Registered
06-05-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.