Cyclops
ActiveSummary
Cyclops has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.0m and a net result of €214,217. Equity has been growing by about 23% per year since 2018. Its solvency ranks better than 32% of 10,818 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 05-08-2015 Normal situation
- Activity
- Business and other management consultancy NACE 70200
- Joint committees
- 100 Aanvullend Paritair Comité voor de werklieden
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 2024
- Establishment units
- 2.244.792.608 1800 Vilvoorde, since 05-08-2015
- 2.335.416.936 6041 Charleroi, since 15-06-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 26-11-2025
Board and ownership
Board
- The Pack ConsultingDirector · since 18-06-2025 · permanent representative Ruth Van Hellemont
- ArgusCoDirector · permanent representative Wim Vernaeve
Shareholders
- MEDUSA RR100%· score 842025 annual accounts of MEDUSA RR
- Rob De Luyck0.01%annual accounts 2019
- Ruth Van Hellemont0.01%annual accounts 2019
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
Annual accounts 2025
- Gross margin
- €3.8m
- ▼ 11.7%
- Turnover
- ≈ €7.1m
- estimated
- Profit
- €214,217
- ▼ 60.7%
- Equity
- €1.0m
- ▲ 0.4%
- Total assets
- €3.3m
- ▼ 12.6%
- Employees on 31-12-2025
- 39
- ▼ 2.5%
Filed on 23-06-2026, 38 days before the deadline
Score breakdownraises risk1 change of registered office in 24 monthslowers riskLiquidity: current ratio 2.21, cash €1.3mFigures for financial year 2025 (filed on 23-06-2026)Sector: Activities of head offices; management consultancy activities (NACE 70)Show the evidence
Checked score
Score 2025
90
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 52% of small companies in head offices and management consultancy (NACE 70)
Financial strength · tick: 2024
Strong
Solvency
56+4
equity 31.5% of total assets
Liquidity
79+31
short-term debt 43.3% · cash 39.8%
Profitability
63-24
return on assets 6.6%
Bankruptcy probability within 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.2%▲ +0.1 percentage points vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.1%▼ -0.1 percentage points vs 07-2025lowest value
09-2025: 0.1%● unchanged vs 08-2025lowest value
10-2025: 0.1%● unchanged vs 09-2025lowest value
11-2025: 0.2%▲ +0.1 percentage points vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.3%▲ +0.1 percentage points vs 02-2026
04-2026: 0.3%● unchanged vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.4%▲ +0.1 percentage points vs 05-2026highest value
07-2026: 0.2%▼ -0.2 percentage points vs 06-2026
08-2026: 0.2%● unchanged vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Credit of up to €90,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.21 (1.94 in 2024), above the usual 1.5. Short-term debt is 43.3% and cash 39.8% of total assets. However, 68.5% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, small). It does better than 31% of them on solvency, 93% on liquidity, 48% on profitability and 35% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 23-06-2026, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
38 days early
2024
20 days early
2023
58 days early
2022
45 days early
2021
59 days late
2020
2 days early
2019
4 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 14 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 23 June (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
02-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 10 filings
Turnover
≈ €7.1m
Estimated: probably between €5.0m and €9.1m
Total assets
€3.3m▼ 12.6%
2024 · €3.7m
Net result
€214,217▼ 60.7%
2024 · €545,387
Working capital
€1.7m▼ 2.9%
2024 · €1.8m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 53% lower than in 2024.
Operating result€0.4m
2025
Net result€0.2m
2025
Total assets€3.3m
2025
Equity€1.0m
2025
Debt€2.2m
2025
Working capital€1.7m
2025
Return on assets (ROA)6.6%
2025
Solvency31.5%
2025
Current ratio2.21
2025
Staff (FTE)40
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.07m-€0.2m▲ 212%€0.4m▲ 61.4%€0.2m▼ 46.4%€0.3m▲ 64.9%€0.8m▲ 149%€0.9m▲ 8.6%€0.4m▼ 52.7%
Net result€0.03m-€0.1m▲ 327%€0.2mabove the sector's middle half▲ 91.4%€0.09mwithin the sector's middle half▼ 57.3%€0.2mabove the sector's middle half▲ 95.0%€0.5mabove the sector's middle half▲ 183%€0.5mabove the sector's middle half▲ 7.0%€0.2mabove the sector's middle half▼ 60.7%
Equity€0.2m-€0.3m▲ 32.3%€0.4mwithin the sector's middle half▲ 49.6%€0.5mwithin the sector's middle half▲ 21.2%€0.6mwithin the sector's middle half▲ 5.7%€0.9mwithin the sector's middle half▲ 57.5%€1.0mwithin the sector's middle half▲ 16.5%€1.0mwithin the sector's middle half▲ 0.4%
Total assets€1.4m-€1.7m▲ 19.5%€2.0mwithin the sector's middle half▲ 17.9%€2.1mwithin the sector's middle half▲ 8.5%€2.5mwithin the sector's middle half▲ 15.1%€3.5mabove the sector's middle half▲ 42.8%€3.7mabove the sector's middle half▲ 6.7%€3.3mabove the sector's middle half▼ 12.6%
Debt€1.2m-€1.4m▲ 17.1%€1.5m▲ 11.2%€1.6m▲ 4.9%€1.9m▲ 18.2%€2.6m▲ 38.4%€2.7m▲ 3.4%€2.2m▼ 17.5%
Working capital€0.2m-€0.8m▲ 383%€0.7mabove the sector's middle half▼ 15.2%€1.2mabove the sector's middle half▲ 71.6%€1.2mabove the sector's middle half▲ 4.9%€1.6mabove the sector's middle half▲ 30.9%€1.8mabove the sector's middle half▲ 10.3%€1.7mabove the sector's middle half▼ 2.9%
Solvency15.8%-17.5%▲ 1.7pp22.2%below the sector's middle half▲ 4.7pp24.7%within the sector's middle half▲ 2.6pp22.7%below the sector's middle half▼ 2.0pp25.1%below the sector's middle half▲ 2.4pp27.4%within the sector's middle half▲ 2.3pp31.5%within the sector's middle half▲ 4.1pp
Current ratio1.14-2.04▲ 0.891.57within the sector's middle half▼ 0.472.35within the sector's middle half▲ 0.782.10within the sector's middle half▼ 0.241.90within the sector's middle half▼ 0.201.94within the sector's middle half▲ 0.042.21within the sector's middle half▲ 0.28
Return on assets (ROA)1.9%-6.8%▲ 4.9pp11.0%within the sector's middle half▲ 4.2pp4.3%within the sector's middle half▼ 6.7pp7.3%within the sector's middle half▲ 3.0pp14.5%above the sector's middle half▲ 7.2pp14.6%within the sector's middle half=6.6%within the sector's middle half▼ 8.0pp
Staff (FTE)18.7-26.3▲ 40.6%33.4above the sector's middle half▲ 27.0%37above the sector's middle half▲ 10.8%36.6above the sector's middle half▼ 1.1%43.4above the sector's middle half▲ 18.6%42.4above the sector's middle half▼ 2.3%40above the sector's middle half▼ 5.7%
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Large changes and their cause
- 2023 Equity +58% on 2022. Capital increase of €168,543 (Official Gazette 26-07-2023).
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.3m
Fixed assets
€132,597 ▲ 70.9%
Current assets
€3.1m ▼ 14.3%
Equity and liabilities €3.3m
Equity
€1.0m ▲ 0.4%
Debt
€2.2m ▼ 17.5%
Debt's share of the balance-sheet total falls from 72.6% to 68.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€455,994▼
2024 · €916,127
Cash flow
€258,533▼
2024 · €591,355
Debt to equity
2.18▼
2024 · 2.65
ROE
20.8%▼
2024 · 53.2%
Interest coverage
4.28▼
2024 · 8.78
Debt ≤ 1 year
€1.4m▼
2024 · €1.9m
Debt > 1 year
€800,000▲
2024 · €700,000
Income taxes
€105,707▼
2024 · €240,185
Staff costs
€3.3m▼
2024 · €3.4m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 34 | 41 | 40 | 39 |
| full-time | 34 | 40 | 37 | 36 |
| part-time | 0 | 1 | 3 | 3 |
| in full-time equivalents | 34 | 40.8 | 39.4 | 38.5 |
| Average over the year, in full-time equivalents | 37 | 36.6 | 42.4 | 40 |
| On a permanent contract | 34 | 41 | 40 | 39 |
| Joined | 9 | 15 | 10 | 13 |
| Left | 11 | 8 | 13 | 14 |
| Training hours | 785 | 887 | - | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €9,916 | €39,089 | €28,811 | €33,761 | €88,811 |
| Intangible fixed assets | €33,018 | €10,500 | €19,308 | - | €19,834 |
| Financial fixed assets | - | €2,400 | - | €3,870 | €0 |
| Depreciation and write-downs of the year | €27,579 | €33,428 | €45,002 | €45,968 | €44,317 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 8 entries · €29,876 awarded · €28,699 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 3 | €5,716 | €5,952 |
| 2024 | 3 | €15,909 | €14,496 |
| 2023 | 1 | €6,410 | €6,410 |
| 2022 | 1 | €1,841 | €1,841 |
Comparable companies
These companies have the same main activity as Cyclops: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €2.2m and €4.1m, founded between 2014 and 2018.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| Cyclops Vilvoorde | 2015 | €3.3m | €1.0m | €3.8m | €0.2m | 40 | 2025 |
| Toegankelijk Vlaanderen Hasselt | 2014 | €3.3m | €2.0m | €3.6m | -€0.07m | 39.5 | 2025 |
| BROPTIMIZE ENERGY Remicourt | 2016 | €3.1m | €1.2m | €3.9m | €0.009m | 47 | 2025 |
| SATELLIT Ukkel | 2014 | €2.6m | €0.3m | €3.9m | €0.3m | 36.1 | 2025 |
| BrightWolves Machelen (Brab.) | 2017 | €4.1m | €1.2m | €4.1m | €0.3m | 42.9 | 2025 |
| irex Consulting Bierbeek | 2018 | €2.3m | €1.0m | €3.8m | €0.02m | 40.9 | 2025 |
| Captains of Finance Grimbergen | 2016 | €2.2m | €0.02m | €5.4m | €1.0m | 38.7 | 2025 |
They were chosen from the 54,693 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 17,811 companies had the same profile as Cyclops has now. Two years later, 0.3% had gone bankrupt and 96.5% were still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.3%
went bankrupt
3.1%
stopped otherwise
96.5%
was still going
That fits the bankruptcy probability of Cyclops itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,811 companies, not a prediction for Cyclops. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | €0.008m | €0.01m | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €2.7m | €2.9m | €3.7m | €3.4m | €3.3m | ▼ 1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.05m | €0.05m | €0.04m | ▼ 3.6% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | -€0.01m | €0 | - | - |
| Other operating charges640/8 | - | - | - | €0.01m | €0.008m | €0.007m | €0.008m | €0.01m | ▲ 30.2% |
| Non-recurring operating charges66A | - | - | - | €0 | €118 | €0.003m | €0.001m | €0 | ▼ 100% |
| Gross operating margin9900 | €1.3m | €2.1m | €2.8m | €2.9m | €3.3m | €4.5m | €4.3m | €3.8m | ▼ 11.7% |
| Operating profit (loss)9901 | €0.07m | €0.2m | €0.4m | €0.2m | €0.3m | €0.8m | €0.9m | €0.4m | ▼ 52.7% |
| Financial income75/76B | - | - | - | €0.01m | €0.005m | €0.005m | €0.02m | €0.01m | ▼ 24.4% |
| Recurring financial income75 | €169 | €0.001m | €464 | €51 | €0.005m | €0.005m | €0.02m | €0.01m | ▼ 24.4% |
| Non-recurring financial income76B | - | - | - | €0.01m | €0 | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.04m | €0.04m | €0.06m | €0.1m | €0.1m | ▲ 2.3% |
| Recurring financial charges65 | €0.01m | €0.02m | €0.02m | €0.04m | €0.04m | €0.06m | €0.1m | €0.1m | ▲ 2.3% |
| Profit (loss) for the period before taxes9903 | €0.06m | €0.2m | €0.3m | €0.2m | €0.3m | €0.7m | €0.8m | €0.3m | ▼ 59.3% |
| Income taxes67/77 | €0.03m | €0.09m | €0.1m | €0.08m | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 56.0% |
| Profit (loss) for the period9904 | €0.03m | €0.1m | €0.2m | €0.09m | €0.2m | €0.5m | €0.5m | €0.2m | ▼ 60.7% |
| Profit (loss) for the period to be appropriated9905 | €0.03m | €0.1m | €0.2m | €0.09m | €0.2m | €0.5m | €0.5m | €0.2m | ▼ 60.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.4m | €1.7m | €2.0m | €2.1m | €2.5m | €3.5m | €3.7m | €3.3m | ▼ 12.6% |
| Fixed assets21/28 | €0.06m | €0.09m | €0.08m | €0.09m | €0.1m | €0.1m | €0.08m | €0.1m | ▲ 70.9% |
| Intangible fixed assets21 | - | - | €0.008m | €0.03m | €0.04m | €0.05m | €0.03m | €0.04m | ▲ 14.1% |
| Tangible fixed assets22/27 | €0.05m | €0.08m | €0.06m | €0.05m | €0.07m | €0.06m | €0.04m | €0.1m | ▲ 174% |
| Plant, machinery and equipment23 | - | - | - | €0.02m | €0.02m | €0.01m | €0.02m | €0.01m | ▼ 53.7% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.05m | €0.05m | €0.01m | €0.06m | ▲ 514% |
| Other tangible fixed assets26 | - | - | - | €0.003m | €0.003m | €0.002m | €0.002m | €0.02m | ▲ 12× |
| Financial fixed assets28 | €0.009m | €0.005m | €0.005m | €0.005m | €0.007m | €0.007m | €0.01m | €0.001m | ▼ 94.3% |
| Current assets29/58 | €1.3m | €1.6m | €1.9m | €2.0m | €2.3m | €3.4m | €3.7m | €3.1m | ▼ 14.3% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | €0.08m | €0 | ▼ 100% |
| Other amounts receivable291 | - | - | - | - | - | - | €0.08m | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €1.3m | €1.1m | €0.8m | €1.5m | €1.7m | €2.3m | €2.8m | €1.7m | ▼ 38.4% |
| Trade receivables40 | - | - | - | €1.5m | €1.7m | €2.2m | €2.6m | €1.1m | ▼ 57.0% |
| Other amounts receivable41 | - | - | - | €0.09m | €0.06m | €0.06m | €0.2m | €0.6m | ▲ 239% |
| Cash at bank and in hand54/58 | €0.02m | €0.08m | €0.7m | €0.2m | €0.5m | €0.9m | €0.7m | €1.3m | ▲ 85.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.3m | €0.1m | €0.2m | €0.1m | €0.1m | ▲ 13.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.4m | €1.7m | €2.0m | €2.1m | €2.5m | €3.5m | €3.7m | €3.3m | ▼ 12.6% |
| Equity10/15 | €0.2m | €0.3m | €0.4m | €0.5m | €0.6m | €0.9m | €1.0m | €1.0m | ▲ 0.4% |
| Contributions10/11 | €0.006m | €0.006m | - | €0.006m | €0.006m | €0.04m | €0.04m | €0.04m | = |
| Reserves13 | €0.2m | €0.3m | €0.4m | €0.5m | €0.6m | €0.8m | €1.0m | €1.0m | ▲ 0.4% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €0.5m | €0.6m | €0.8m | €1.0m | €1.0m | ▲ 0.4% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - | €0 | €0 | - |
| Amounts payable17/49 | €1.2m | €1.4m | €1.5m | €1.6m | €1.9m | €2.6m | €2.7m | €2.2m | ▼ 17.5% |
| Amounts payable after more than one year17 | - | €0.6m | €0.3m | €0.5m | €0.7m | €0.7m | €0.7m | €0.8m | ▲ 14.3% |
| Financial debts170/4 | - | - | - | €0.5m | €0.7m | €0.7m | €0.7m | €0.8m | ▲ 14.3% |
| Amounts payable within one year42/48 | €1.2m | €0.8m | €1.2m | €0.9m | €1.1m | €1.8m | €1.9m | €1.4m | ▼ 25.1% |
| Financial debts43 | - | - | - | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | ▼ 3.1% |
| Credit institutions430/8 | - | - | - | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | ▼ 3.1% |
| Trade debts44 | €0.5m | €0.4m | €0.2m | €0.1m | €0.3m | €0.7m | €0.9m | €0.8m | ▼ 14.0% |
| Suppliers440/4 | - | - | - | €0.1m | €0.3m | €0.7m | €0.9m | €0.8m | ▼ 14.0% |
| Advances received on contracts in progress46 | - | - | - | - | €0.01m | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.5m | €0.5m | €0.6m | €0.4m | €0.4m | ▼ 18.5% |
| Taxes450/3 | - | - | - | €0.2m | €0.2m | €0.2m | €0.1m | €0.06m | ▼ 41.1% |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.3m | €0.4m | €0.3m | €0.3m | ▼ 11.2% |
| Other amounts payable47/48 | - | - | - | €137 | €0.002m | €0.2m | €0.3m | €0.001m | ▼ 99.5% |
| Accrued charges and deferred income492/3 | - | - | - | €0.2m | €0.08m | €0.1m | €0.1m | €0.02m | ▼ 80.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,473 | €113,099 | €216,475 | €92,384 | €180,163 | €509,671 | €545,387 | €214,217 | ▼ 60.7% |
| + Depreciation and write-downs630 | €25,683 | €29,149 | €31,617 | €27,579 | €33,428 | €45,002 | €45,968 | €44,317 | ▼ 3.6% |
| Operating cash flow (approximation) | €52,156 | €142,247 | €248,093 | €119,963 | €213,591 | €554,673 | €591,355 | €258,533 | ▼ 56.3% |
| Investment in fixed assets (approximation) | - | -€54,439 | -€21,906 | -€42,768 | -€52,973 | -€45,744 | -€11,734 | -€99,309 | ▼ 746% |
| Change in cash | - | €61,127 | €585,807 | -€473,968 | €294,568 | €434,175 | -€221,289 | €600,786 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 23-06-2026 | 2026-00187397 | NBB |
| 31-12-2024 | abbreviated format | 11-07-2025 | 2025-00264858 | |
| 31-12-2023 | abbreviated format | 03-06-2024 | 2024-00108083 | |
| 31-12-2022 | abbreviated format | 16-06-2023 | 2023-00139275 | |
| 31-12-2021 | abbreviated format | 28-09-2022 | 2022-20438062 | |
| 31-12-2020 | abbreviated format | 29-07-2021 | 2021-43100434 | |
| 31-12-2019 | abbreviated format | 04-08-2020 | 2020-40000076 | |
| 31-12-2018 | abbreviated format | 30-08-2019 | 2019-59100380 | |
| 31-12-2017 | abbreviated format | 31-07-2018 | 2018-41600026 | |
| 31-12-2016 | abbreviated format | 30-08-2017 | 2017-53600196 |
Board & ownership
Directors
Directors
2 directors, last change in 2025
Board 2
The Pack Consulting
Current
Director · since 18-06-2025 · term without a fixed end · Private limited company · permanent representative: Ruth Van Hellemont · also on the board of 2 other companies · listed in the 2025 annual accounts, filed on 23-06-2026
ArgusCo
Current
Director · current term since 01-03-2026 · term without a fixed end · Private limited company · permanent representative: Wim Vernaeve · also on the board of 1 other company · listed in the 2025 annual accounts, filed on 23-06-2026
Permanent representatives 2
Wim Vernaeve
Current
Permanent representative · appointed in the act of 15-09-2025 · for ArgusCo
Ruth Van Hellemont
Current
Permanent representative · appointed in the act of 15-09-2025 · for The Pack Consulting
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“De bestuurders regelen zelf de uitoefening van de bevoegdheid. Elke bestuurder is belast met het dagelijks bestuur van de vennootschap. Deze…”
deed of 26-07-2023Owners and capital
Shareholders
3 ownersChain of control
- MEDUSA RR
- Cyclops
Owners 3
- MEDUSA RRparentSourceaccounts MEDUSA RR 2025Equity €1.3m Profit of €233,139 in 2025 (profit of €428,507 in 2024) Checked score 84100%
- Rob De Luycknatural personSourceown accounts 20190.01%
- Ruth Van Hellemontnatural personSourceown accounts 20190.01%
Capital transactions
Shareholders according to the deeds
Stated in the act
act of 26-07-2023 ↗
- MEDUSA RR 66 shares
Capital over time
- 26-07-2023 Capital increase of €168,542.59 · 66 new shares
Mandate history
4 people, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| ArgusCo |
|
| The Pack Consulting |
|
| Ruth Van Hellemont |
|
| DL CLAN |
|
Network & group
Acquisitions and mergers
1 transactionTook over:PHOENIXS
Companies at the same address
1 other companyConnections & network
2 current directorsThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
This company
Company
Director
Shareholding
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Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
17-07
Gazette deed
Permanent representatives: Wim Vernaeve and Niels Colson4 points ▸
Gazette deed
Permanent representatives: Wim Vernaeve and Niels Colson
4 points ▸
- Other provision, “publicatienummer”, 26346457 (deed in Dutch)
- Board meeting, 08-05-2026
- Permanent representative, Wim Vernaeve
- Permanent representative, Niels Colson
23-06
abbreviated format · 38 days before the deadline
2025
06-10
Gazette deed
Registered office moved from Mechelen to Vilvoorde2 points ▸
Gazette deed
Registered office moved from Mechelen to Vilvoorde
2 points ▸
- Registered-office move, Hendrik I Lei 45 - 1800 Vilvoorde
- Board meeting, 23-06-2025
15-09
Gazette deed
Resignations: The Pack Consulting BV, DL CLAN BV and Ruth Van HellemontAppointments: ArgusCo BV, Ruth Van Hellemont and The Pack Consulting BV11 points ▸
Gazette deed
Resignations: The Pack Consulting BV, DL CLAN BV and Ruth Van Hellemont
Appointments: ArgusCo BV, Ruth Van Hellemont and The Pack Consulting BV11 points ▸
- General meeting, 07-05-2025
- Director resignation, The Pack Consulting BV (director)
- Director resignation, DL CLAN BV (director)
- Director appointment, ArgusCo BV (director)
- Director appointment, Ruth Van Hellemont (director)
- Board composition, ArgusCo BV (director), mentioned 2 times in the deed
- Board composition, Ruth Van Hellemont (director)
- General meeting, 18-06-2025
- Director resignation, Ruth Van Hellemont (director)
- Director appointment, The Pack Consulting BV (director)
- Board composition, The Pack Consulting BV (director)
11-07
abbreviated format · 20 days before the deadline
2024
31-12
Financial
Highest result from 2018 to 2025net €545,387 ▲7%
The operating result of €870,158 and the net result of €545,387 are both a record.
31-12
Financial
Equity above €1mequity €1.0m ▲16.5%
With a profit in every financial year since 2018, equity grows to €1.0m.
03-06
abbreviated format · 58 days before the deadline
2023
26-07
Gazette deed
Merger: Cyclops takes over PHOENIXSCapital increase of €168,542.59 · Permanent representatives: Ruth Van Hellemont and Rob De Luyck · Capital conversion35 points ▸
Gazette deed
Merger: Cyclops takes over PHOENIXS
Capital increase of €168,542.59 · Permanent representatives: Ruth Van Hellemont and Rob De Luyck · Capital conversion35 points ▸
- Other provision, 03-07-2023
- General meeting, 29-06-2023
- Capital conversion, EUR, “niet-opgevraagde inbrengen” (deed in Dutch)
- Other provision, “verslag schrappen soorten aandelen, ter griffie Ondernemingsrechtbank met uitgifte proces-verbaal” (deed in Dutch)
- Kind of shares, “alle vermeldingen naar aandelenklassen, schrappen” (deed in Dutch)
- Other provision, “voorafgaande formaliteiten fusie”, 3.1 (deed in Dutch)
- Merger, “onderhandse overeenkomst”, 14-03-2023 (deed in Dutch)
- Other provision, “verzaking fusieverslagen, niet toepassen” (deed in Dutch)
- Auditor report, “Lier, geen bevindingen van materieel belang” (deed in Dutch)
- Other provision, “andere documenten voor elke van de twee vennootschappen” (deed in Dutch)
- Other provision, “fusievoorstel niet meer dan zes maanden na einde boekjaar laatste jaarrekening, geen tussentijdse cijfers” (deed in Dutch)
- Other provision, “ontvangst fusievoorstel en kennisname, copie fusievoorstel” (deed in Dutch)
- The act holds 23 more points.
16-06
abbreviated format · 45 days before the deadline
23-03
Gazette deed
Merger proposal: Cyclops takes over PhoenixsPermanent representatives: Rob De Luyck and Ruth Van Hellemont · Capital · Accounting effect21 points ▸
Gazette deed
Merger proposal: Cyclops takes over Phoenixs
Permanent representatives: Rob De Luyck and Ruth Van Hellemont · Capital · Accounting effect21 points ▸
- Merger, “fusie door overneming, fusie door overneming” (deed in Dutch)
- Other provision, “goedkeuring en neerlegging fusievoorstel, artikel 12:24 Wetboek van vennootschappen en verenigingen” (deed in Dutch)
- Other provision, “wenselijkheid fusie door overneming, fusie door overneming” (deed in Dutch)
- Other provision, “statutenwijziging Phoenixs” (deed in Dutch)
- Capital, €30,000
- Other provision, “register inscription, rechtspersonenregister te Antwerpen,afdeling Mechelen” (deed in Dutch)
- Board composition, Ruth Van Hellemont (director)
- Board composition, Rob De Luyck (director)
- Board composition, Guido Rasschaert (director)
- Other provision, “statutenwijziging sinds oprichting” (deed in Dutch)
- Board composition, DL Clan BV (lid bestuursorgaan)
- Board composition, The Pack Consulting BV (lid bestuursorgaan)
- The act holds 9 more points.
2022
28-09
abbreviated format · 59 days late
Show earlier events
2021
31-12
Financial
Equity above €500,000equity €527,943 ▲21.2%
With a profit in every financial year since 2018, equity grows to €527,943.
29-07
abbreviated format · 2 days before the deadline
2020
04-08
abbreviated format · 4 days late
2019
30-08
abbreviated format · 30 days late
2018
31-07
abbreviated format · on the deadline day
2017
30-08
abbreviated format · 30 days late
2015
07-08
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
Cyclops in Dutch
Enterprise number
0634.850.548
Legal form
Private limited company (pre-2019)
Status
Active, normale toestand
Founded
05-08-2015
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 26-07-2023 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest, hoofdkantoren,bijkantoren,agentschappen,opslagplaatsen en kantoren in België en buitenland bij eenvoudig besluit…”
deed of 26-07-2023 (in Dutch)Registered office and establishments
Registered office
Hendrik I-lei 45, 1800 Vilvoorde, Belgium
Former registered office
2800 Mechelen until 23-06-2025 · act of 06-10-2025
Establishment units
Cyclops, Hendrik I-lei 45, 1800 Vilvoorde since 05-08-2015 · unit number 2.244.792.608
Rue Petit Piersoulx 1, 6041 Charleroi since 15-06-2022 · unit number 2.335.416.936
E-mail
ruth.van.hellemont@cyclopscompany.com
Phone
0477/357392
Activities
NACEBEL 2025VAT activities
70200
Business and other management consultancy main activity
Social security (RSZ) activities
70200
Business and other management consultancy main activity
Codes under NACEBEL 2008
VAT activities
70220
Business consulting main activity
Social security (RSZ) activities
70220
Business consulting main activity
Joint committees
100 Aanvullend Paritair Comité voor de werklieden
200 Aanvullend Paritair Comité voor de bedienden annual accounts 2024
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 23-03-2023 (in Dutch)
“Hetaanleggen,hetoordeelkundiguitbouwenenbeherenvaneenonroerendvermogen,alleverrichtingenmetbetrekkingtotonroerende…”
4 activities
- Hetaanleggen,hetoordeelkundiguitbouwenenbeherenvaneenonroerendvermogen,alleverrichtingenmetbetrekkingtotonroerende goederenenonroerendezakelijkerechten,zoalsdehuurfinancieringvanonroerende goederen aanderden,hetaankopen,verkopen,ruilen,bouwen,doenbouwen,verbouwen,inrichten,decoreren,onderhouden,herstellen,verhuren,huren,inleasinggevenofnemen,verkavelen,prospecterenuitbatenen,enzoverdervolgensbron
- Hetaanleggen,hetoordeelkundiguitbouwenenbeherenvaneenroerendvermogen,alleverrichtingenenzoalsinbronvoorroerendevermogensenwaardepapieren
- Hettoestaanvanleningenenkredietopeningenaanvennootschappenenparticulieren,metborg,avalenhandels-enfinancieleoperatiesbehalvewettelijkvoorbehoudenactiviteiten,zoalsinbron
- B.Uitsluitendineigennaamenvooreigenrekening
Invoicing and payment
VAT number
BE 0634.850.548
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Friday of June at 15:00
deed of 26-07-2023 (in Dutch)Environmental permits
1 application in Flanders since 2022
Bouwen of herbouwen; Verwijderen van vrijstaande gebouwen
Source: Omgevingsloket Vlaanderen.
Sites & property
Location
Buildings and parcels at the addresses
Ground area
8,857 m²
Building footprint
319 m²
Building volume
2,835 m³
Tallest building: 11.4 m.
Flanders
1
(50%)
Wallonia
1
(50%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 52028B0291/00G000 | Wallonia | 8,532 m² | 1 · 177 m² | 11.0 m · 3 |
| 23643G0460/00S000 | Flanders | 325 m² | 1 · 142 m² | 11.4 m · 3 |