CLOSED CIRCLE

Active Risk: not assessed Public limited companyfounded 2001active for 24 yearsKlein Terbankstraat 65, 3150 HaachtKBO/BCE: BE 0476.115.590 subsidiary of Next Level SA#1 company by equity in Haacht

Heads the group CLOSED CIRCLE 12 companies in 5 countries

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CLOSED CIRCLE

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Holdings

own 2025 accounts, the bar shows equity in euros

This companyCLOSED CIRCLE11 holdings, 5 countries 2025 accounts

Belgium 2 Year Equity Result

BE Stageco Belgium99.54% 2025€3.9m result €1.4m (2025)
BE Steel Logistics 2025€380,609 result -€1.4m (2025)

Europe 5 Year Equity Result

DE Stageco Deutschland GmbH 2024€5.4m result €949,398 (2024)
DE Stageco Grundbesitz GmbH 2024€1.8m result €49,687 (2024)
NL Stageco Nederland B.V. 2024€1.8m result €761,313 (2024)
FR Stageco France S.A.R.L99.79% 2024€1.6m result €281,344 (2024)
NL Stage-Invest Nederland B.V. 2024€1.2m result €112,006 (2024)

North America 4 Year Equity Result

US Stageco Properties U.S., Inc. 2024USD 2.1m result USD 168,695 (2024)
US Stageco US, Inc. 2024USD 3.9m result USD 1.6m (2024)
US Stiegel Partners, LLC76% 2024USD 20,439 result USD 75 (2024)
US Stiegel Properties, LP75.24% 2024USD 2.4m result USD 4,563 (2024)

Source: list of holdings in its own 2025 accounts. Holdings that file themselves stand with their latest accounts, the others with the amounts of that list, in their own currency.

Heads the group CLOSED CIRCLE Group, risk and exposure

Parent

Next Level SA

Luxembourg

Earlier ties

VEMA-TRANS

via Geert VANDERSTUKKEN, no longer at VEMA-TRANS · Director · deed of 30-12-2020

founded in 1983

total assets €4.5m (2025)

Holdings and subsidiaries

11 holdings

Share, source and own figures per holding (11)

Source for every holding own accounts 2025

Stage-Invest Nederland B.V.NLsubsidiary
Equity €1.2mResult €112,006

100%
Stageco Deutschland GmbHDEsubsidiary
Equity €5.4mResult €949,398

100%
Stageco Grundbesitz GmbHDEsubsidiary
Equity €1.8mResult €49,687

100%
Stageco Nederland B.V.NLsubsidiary
Equity €1.8mResult €761,313

100%
Stageco Properties U.S., Inc.USsubsidiary
Equity USD 2.1mResult USD 168,695

100%
Stageco US, Inc.USsubsidiary
Equity USD 3.9mResult USD 1.6m

100%
STEEL LOGISTICSsubsidiary
Equity €380,609 Loss of €1.4m in 2025 (loss of €431,016 in 2024) Checked score 54

100%
Stageco France S.A.R.LFRsubsidiary
Equity €1.6mResult €281,344

99.79%
Stageco Belgiumsubsidiary
Equity €3.9m Profit of €1.4m in 2025 (profit of €3.9m in 2024) Checked score 90

99.54%
Stiegel Partners, LLCUSsubsidiary
Equity USD 20,439Result USD 75

76%
Stiegel Properties, LPUSsubsidiary
Equity USD 2.4mResult USD 4,563

75.24%

Holdings through the years 2006 to 2025

Holdings through the years
Name	2006	2007	2009	2012	2014	2019	2020
Stage-Invest Nederland B.V.NL 2014 to 2025: 100%					100%
Stageco Deutschland GmbHDE 2006 to 2008: 70% 2009 to 2013: 0.7% 2014 to 2018: 70% 2019 to 2025: 100%	70%		0.7%		70%	100%
Stageco Grundbesitz GmbHDE 2006 to 2008: 50% 2009 to 2013: 0.5% 2014 to 2018: 70% 2019 to 2025: 100%	50%		0.5%		70%	100%
Stageco Nederland B.V.NL 2006 to 2008: 100% 2009 to 2013: 1% 2014 to 2025: 100%	100%		1%		100%
Stageco Properties U.S., Inc.US 2006 to 2008: 100% 2009 to 2013: 1% 2014 to 2025: 100%	100%		1%		100%
Stageco US, Inc.US 2006 to 2008: 100% 2009 to 2013: 1% 2014 to 2025: 100%	100%		1%		100%
STEEL LOGISTICS 2006 to 2008: 99.99% 2009 to 2013: 1% 2014 to 2019: 99.99% 2020 to 2025: 100%	99.99%		1%		99.99%		100%
Stageco France S.A.R.LFR 2006 to 2008: 99.79% 2009 to 2013: 1% 2014 to 2025: 99.79%	99.79%		1%		99.79%
Stageco Belgium 2006 to 2008: 99.5% 2009 to 2013: 1% 2014 to 2018: 99.5% 2019 to 2025: 99.54%	99.5%		1%		99.5%	99.54%
Stiegel Partners, LLCUS 2019 to 2025: 76%						76%
Stiegel Properties, LPUS 2019 to 2025: 75.24%						75.24%
THE OTHER SIDE 2006 to 2008: 99.92% 2009 to 2013: 1% 2014 to 2023: 99.99%	99.92%		1%		99.99%
Barrier Holding BV 2012 to 2013: 0.6% 2014 to 2015: 74%				0.6%	74%
Stage-Invest BVNL 2007 to 2008: 100% 2009 to 2013: 1%		100%	1%
Mojo Barriers Beheer BV 2009 to 2011: 0.6%			0.6%
Mojo Barries Beheer BVNL 2007 to 2008: 60%		60%
ALL-STAGE 2006: 99.87% 2007: 100%	99.87%	100%

Source: list of holdings in its own accounts

Acquisitions and mergers

1 transaction

Took over:THE OTHER SIDE

BE 0421.341.274operation treated as a merger by absorption · Gazette deed of 04-09-2024 (3 deeds) · effective 14-06-2024

Connections & network

3 connected companies

Depth

Shared directors

This company Company Director Shareholding +N: links not shown yet

Linked via shared directors

WICREATIONS

via Geert VANDERSTUKKEN and MAN2PRO (at CLOSED CIRCLE, last mentioned in 2023) · Director (not named in the articles) · deed of 24-06-2024

Founded in 2005 · 40 FTE (2025)

→

WI-invest

via Geert VANDERSTUKKEN and MAN2PRO (at CLOSED CIRCLE, last mentioned in 2023) · Director (not named in the articles) · deed of 24-06-2024

Founded in 2011 · total assets €6.9m (2025)

→

HEIST RECYCLING

via Geert VANDERSTUKKEN · Director · deed of 14-09-2021

Founded in 1985 · total assets €3.8m (2025)

→