CLOSED CIRCLE has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €34.87M and a net result of €1.65M. Equity is shrinking by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 88% of 3184 sector peers (fiscal year 2025). The company has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Holding: general score not applicable
The company has a registered holding activity and financial fixed assets account for more than half of its assets. The general operating-company model is unsuitable for this profile, so we show no financial axes either. Filed figures remain available.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €34.87M
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-09-2026, 32 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 · 10 filingsDeviation from the deadline
2025
32 d late
2024
61 d late
2023
58 d late
2022
17 d late
2021
31 d late
2020
27 d late
2019
41 d late
← before the deadline
after the deadline →
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€2.08M▼ 8.6%
2024 · €2.27M
2018: €1.55M
2019: €1.59M
2020: €331k
2021: €654k
2022: €2.57M
2023: €2.72M
2024: €2.27M
2018 → 2025
EBIT margin
-40.5%▼ 22.2pp
2024 · -18.3%
2018: 10.1%
2019: 31.0%
2020: -209.2%
2021: 15.9%
2022: 32.4%
2023: 9.0%
2024: -18.3%
2018 → 2025
Net result
€1.65M▼ 81.7%
2024 · €8.99M
2018: €13.95M
2019: €6.17M
2020: €-665k
2021: €263k
2022: €658k
2023: €16.43M
2024: €8.99M
2018 → 2025
Working capital
€6.00M▲ 91.6%
2024 · €3.13M
2018: €12.26M
2019: €10.79M
2020: €9.86M
2021: €7.97M
2022: €-11.93M
2023: €-3.76M
2024: €3.13M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€654k-€2.57M▲ 293%€2.72M▲ 5.6%€2.27M▼ 16.3%€2.08M▼ 8.6%
Equity€36.66M-€17.32M▼ 52.8%€24.23M▲ 39.9%€33.22M▲ 37.1%€34.87M▲ 5.0%
Operating result€104k-€834k▲ 701%€244k▼ 70.7%€-417k€-843k▼ 102%
Net result€263k-€658k▲ 150%€16.43M▲ 2,397%€8.99M▼ 45.3%€1.65M▼ 81.7%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €843k in 2025 against €417k 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 €37.00M
Fixed assets
€29.21M▼ 4.1%
Current assets
€7.79M▲ 87.3%
Equity and liabilities €37.00M
Equity
€34.87M▲ 5.0%
Provisions
€336k▼ 6.9%
Debt
€1.79M▲ 74.3%
The debt ratio rises from 3.0% to 4.9%. Equity and debt are higher.
Key figures and ratios
Solvency
94.2%▼
2024 · 96.0%
ROE
4.7%▼
2024 · 27.1%
ROA
4.4%▼
2024 · 26.0%
Debt
€1.79M▲
2024 · €1.03M
Debt ≤ 1 year
€1.79M▲
2024 · €1.03M
Income taxes
€64k▼
2024 · €210k
Staff costs
€536k▲
2024 · €515k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€34.61M€37.00M▲
Fixed assets21/28€30.45M€29.21M▼
Intangible fixed assets21€464k€308k▼
Tangible fixed assets22/27€3.54M€3.42M▼
Land and buildings22€3.22M€3.16M▼
Furniture and vehicles24€326k€256k▼
Assets under construction and advance payments27€0-
Financial fixed assets28€26.45M€25.48M▼
Affiliated companies280/1€26.45M€25.48M▼
Participating interests280€11.68M€11.68M=
Amounts receivable281€14.77M€13.81M▼
Other financial fixed assets284/8€149€149=
Amounts receivable and cash guarantees285/8€149€149=
Current assets29/58€4.16M€7.79M▲
Amounts receivable after more than one year29€408k€420k▲
Other amounts receivable291€408k€420k▲
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€2.40M€2.59M▲
Trade receivables40€816k€1.50M▲
Other amounts receivable41€1.58M€1.08M▼
Cash at bank and in hand54/58€1.14M€4.57M▲
Deferred charges and accrued income490/1€211k€220k▲
Equity and liabilities
Total equity and liabilities10/49€34.61M€37.00M▲
Equity10/15€33.22M€34.87M▲
Contributions10/11€8.38M€8.38M=
Capital10€8.38M€8.38M=
Issued capital100€8.38M€8.38M=
Revaluation surpluses12€2k€2k=
Reserves13€1.84M€1.77M▼
Non-distributable reserves130/1€838k€838k=
Legal reserve130€838k€838k=
Tax-exempt reserves132€1.00M€932k▼
Profit (loss) carried forward14€23.00M€24.72M▲
Provisions and deferred taxes16€361k€336k▼
Provisions for liabilities and charges160/5€33k€30k▼
Other liabilities and charges164/5€33k€30k▼
Deferred taxes168€329k€306k▼
Amounts payable17/49€1.03M€1.79M▲
Amounts payable within one year42/48€1.03M€1.79M▲
Trade debts44€952k€1.71M▲
Suppliers440/4€952k€1.71M▲
Taxes, remuneration and social security45€77k€82k▲
Taxes450/3€15k€15k▲
Remuneration and social security454/9€63k€67k▲
Other amounts payable47/48€244€1k▲
Accrued charges and deferred income492/3€0€0=
Income statement
Code20242025
Operating income70/76A€2.66M€2.85M▲
Turnover70€2.27M€2.08M▼
Other operating income74€389k€768k▲
Operating charges60/66A€3.08M€3.69M▲
Services and other goods61€2.13M€2.67M▲
Remuneration, social security and pensions62€515k€536k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€424k€482k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€12k€-2k▼
Other operating charges640/8€4k€2k▼
Operating profit (loss)9901€-417k€-843k▼
Financial income75/76B€9.61M€2.54M▼
Recurring financial income75€9.10M€2.53M▼
Income from financial fixed assets750€8.92M€2.51M▼
Income from current assets751€2€12k▲
Other financial income752/9€181k€7k▼
Non-recurring financial income76B€510k€15k▼
Financial charges65/66B€6k€13k▲
Recurring financial charges65€6k€13k▲
Debt charges650€0€136▲
Other financial charges652/9€6k€13k▲
Non-recurring financial charges66B€62€0▼
Profit (loss) for the period before taxes9903€9.19M€1.69M▼
Transfer from deferred taxes780€15k€23k▲
Income taxes67/77€210k€64k▼
Taxes670/3€211k€64k▼
Tax adjustments and reversals of tax provisions77€193€26▼
Profit (loss) for the period9904€8.99M€1.65M▼
Transfer from tax-exempt reserves789€44k€69k▲
Transfer to tax-exempt reserves689€1.05M€0▼
Profit (loss) for the period to be appropriated9905€7.99M€1.71M▼
Appropriation of the result
Profit (loss) to be appropriated9906€23.00M€24.72M▲
Profit (loss) brought forward from the previous period14P€15.01M€23.00M▲
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-
Social balance
Average headcount (FTE)90874.84.2▼
The notes to these accounts (54 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 32 days late
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 61 days late
2024
31-12
Financial
Liquidity times 6current ratio 4.04
Current ratio from 0.65 to 4.04; short-term debt falls from €10.72M to €1.03M.
31-12
Financial
Equity above €25MEq €33.22M ▲37.1%
4 profitable years in a row build equity to €33.22M.
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 58 days late
2023
31-12
Financial
Highest result since 2018net €16.43M ▲2397%
Net result €16.43M, the highest in the series.
17-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 17 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Back to profitnet €263k
Net result €263k after one loss-making year.
31-12
Financial
Liquidity times 13current ratio 46.94
Current ratio from 3.54 to 46.94; short-term debt falls from €3.88M to €173k.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 27 days late
2020
31-12
Financial
Weakest financial yearnet €-665k ▼111%
Net result drops to €-665k, the lowest in the series; recovery starts the following year.
10-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 41 days late
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Haacht · 1 establishment unit since 2002
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.
Klein Terbankstraat(TIL) 653150 HaachtGround area
10.9 ha
Building footprint
1.9 ha
Volume, LiDAR
152,858 m³
Parcel 24108B0394/00L000, Flanders · tallest building 18.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Klein Terbankstraat(TIL) 65, 3150 Haacht
since 20022.101.450.857
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24108B0394/00L000 | Flanders | 10.9 ha | 1 · 1.9 ha | 18.9 m · 3 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 82,569 companies in sector 70200 we hold annual accounts for 52,573. 2,623 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded20-11-2001
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
74142
90022Arts creation and performing arts activities
90392Design and construction of stages and sets
64200Holdings
64210Activities of holding companies
74151
Sources
Crossroads Bank for EnterprisesNational Bank · 24 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.