Active BE 0831.000.978Private limited companyOpen bankruptcy

CirQels

· 15 yrs active

Sector: Retail trade (47639)

Conclusion Checked

A bankruptcy procedure is open for CirQels according to publications in the Belgian State Gazette. The 2023 annual accounts show equity of €39k and a net result of €-224k.

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€39k
Net result	€-224k
Better than sector	34%
Active	15 yrs

Snowflake analysis 5 axes · computed by Checked

11 / 100

Fragile profile — watch health in particular.

Health 0

Profitability 0

Solvency 4

Growth 52

Stability 0

Bankruptcy probability (12 mo) Checked model v1 · free

Bankruptcy opened

A bankruptcy procedure is already open — a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Risk Assessment rule-based

50 / 100

High risk

Components

· Open bankruptcy (+50)

Trust signals 1 signals

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags 0 events

No administrative flags

Health barometer FY 2023 · computed

0 / 100 Critical

050100

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

Financial overview10 NBB filings

Annual accounts filed on 30-12-2023 with the NBB · fiscal year 2023 · micro

RevenueOperating resultNet result

Sector comparison

Fiscal year 2023 · NACE 47 — Retail trade · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	6.6%	17.0%	better than 34% of 1189 sector peers
Net result	€-224k	€2k	better than 5% of 1187 sector peers
Equity	€39k	€11k	better than 79% of 1191 sector peers
Gross operating margin	€-92k	€17k	better than 5% of 1177 sector peers
Staff costs	€56k	€31k	higher than 71% of 522 sector peers

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

Revenue

€141k

— 19–23

EBITDA

€-161k

— 19–23

Net profit

€-224k

— 19–23

Cash flow

€-178k

— 19–23

Total assets

€588k

-13.5% 19–23

Equity

€39k

-85.3% 19–23

Working capital

€-304k

-3693.0% 19–23

Employees (FTE)

1

+1300.0% 19–23

Staff costs

€56k

+38.9% 19–23

Income taxes

€-7k

— 19–23

Debt

€549k

+31.8% 19–23

Debt ≤ 1y

€538k

+87.1% 19–23

Debt > 1y

€12k

-91.0% 19–23

Current ratio

0.43

-55.3% 19–23

Quick ratio

0.16

-55.4% 19–23

Solvency

6.6%

-83.0% 19–23

Debt / equity

14.20

+795.8% 19–23

ROE

-579.9%

— 19–23

ROA

-38.2%

— 19–23

Net margin

-34.1%

— 19–23

EBITDA margin

7.6%

— 19–23

Interest coverage

-6.83

— 19–23

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2023
Revenue	—
EBITDA	€-161k
Net profit	€-224k
Cash flow	€-178k
Staff costs	€56k
Income taxes	€-7k
Dividends	—
Total assets	€588k
Equity	€39k
Debt	€549k
of which ≤ 1y	€538k
of which > 1y	€12k
Working capital	€-304k
Employees (FTE)	—

Ratios (computed)

	2023
Current ratio	0.43
Quick ratio	0.16
Working capital ratio	-51.7%
Solvency	6.6%
Debt / equity	14.20
Long-term debt ratio	0.30
Interest coverage	-6.83
Gross margin	—
Net margin	—
ROA	-38.2%
ROE	-579.9%
EBITDA margin	—
Days sales outstanding	—
Days payable outstanding	—
Inventory turnover	—
Days inventory (DSI)	—

Balance-sheet composition 2023

Assets

Fixed assets €354k · 60.3% Current assets €234k · 39.7%

Equity & liabilities

Equity €39k · 6.6% Debt €549k · 93.4%

Full annual accounts

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

Line item	Code	2023
Balance sheet — Assets
TOTAL ASSETS	20/58	€588k
Fixed assets	21/28	€354k
Intangible fixed assets	21	€0
Tangible fixed assets	22/27	€340k
Financial fixed assets	28	€15k
Current assets	29/58	€234k
Stocks & contracts in progress	3	€147k
Amounts receivable within one year	40/41	€83k
Cash & bank	54/58	€1k
Balance sheet — Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€588k
Equity	10/15	€39k
Contributions / capital	10/11	€483k
Reserves	13	€165k
Accumulated profits (losses)	14	€-877k
Amounts payable	17/49	€549k
Amounts payable after one year	17	€12k
Amounts payable within one year	42/48	€538k
Trade debts payable within one year	44	€91k
Income statement
Gross operating margin	9900	€-92k
Operating result	9901	€-208k
Financial income	75	€0
Financial charges	65	€24k
Result before taxes	9903	€-231k
Income taxes	67/77	€-7k
Net result for the period	9904	€-224k
Result to be appropriated	9905	€-224k

You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Directors & mandates1 person

Role	Name	Tenure	Source
Curator	MAARTEN VINCKIER HOOGLEEDSESTEENWEG 7, 8800 ROESELARE ↔ Also on 53 other cases	12-05-2026 → present	Belgian State Gazette

Legal Structure

NACE primary	Retail trade(47639)
Legal form	Private limited company(610)
Incorporation	04-11-2010
Status	Active
Postal code	—
First BS signal	19-05-2026
Latest BS signal	19-05-2026

Company structure — linked entities1 linked entities

Mandates

↔ 1 of these mandate-holders are active on other cases — click any red card to open that KBO.

Establishment units 1 location

Establishment

Groothandel in sport- en kampeerartikelen, met uitzondering van fietsen

since 20102.203.457.344

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.
36504D0620/00E000	Flanders	3,062 m²	1 · 1,230 m²	7.7 m · 2 fl.

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 11 events

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

2026

19-05-2026

Bankruptcy Opening

Ondernemingsrechtbank Gent, afdeling Kortrijk · CIRQELS BV ABRAHAM HANSSTRAAT 8, 8800 ROESELARE · event 12-05-2026

2023

30-12-2023