FIRST CIRCLE
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 16-06-2026 at the NBB all 9 filings
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€31,154▼ 11.6%
2024 · €35,230
Working capital
€101,971▼ 22.0%
2024 · €130,718
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€17,784
▼ 48.7%
2025
20182025
Net result
€31,154
▼ 11.6%
2025
20182025
Equity
€10.8m
▲ 0.3%
2025
20182025
Total assets
€10.8m
▲ 0.3%
2025
20182025
Debt
€5,977
▲ 759%
2025
20182025
Working capital
€101,971
▼ 22.0%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.02m--€0.02m▲ 21.4%-€0.03m▼ 94.3%-€0.03m▼ 5.8%-€0.01m▲ 69.7%-€0.01m▼ 8.3%-€0.01m▼ 6.9%-€0.02m▼ 48.7%
Net result€0.04m--€31.7m-€33.1m▼ 4.4%€0.02m€0.04m▲ 87.7%€0.04m▼ 7.5%€0.04m▼ 2.4%€0.03m▼ 11.6%
Equity€75.4m-€43.7m▼ 42.0%€10.6m▼ 75.7%€10.7m▲ 0.2%€10.7m▲ 0.4%€10.7m▲ 0.3%€10.8m▲ 0.3%€10.8m▲ 0.3%
Total assets€75.4m-€43.7m▼ 42.0%€10.6m▼ 75.7%€10.7m▲ 0.2%€10.7m▲ 0.4%€10.7m▲ 0.4%€10.8m▲ 0.2%€10.8m▲ 0.3%
Debt€0.009m-€0.002m▼ 80.0%€0.004m▲ 101%€0.005m▲ 25.5%€0.009m▲ 90.2%€0.01m▲ 20.4%€0.001m▼ 93.5%€0.006m▲ 759%
Working capital€0.05m-€0.09m▲ 85.0%€0.1m▲ 27.2%€0.1m▲ 17.6%€0.2m▲ 27.8%€0.2m▼ 13.3%€0.1m▼ 15.9%€0.1m▼ 22.0%
The operating result for 2025 is a loss of €17,784, larger than the loss of €11,958 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.8m
Fixed assets
€10.7m ▲ 0.6%
Current assets
€107,948 ▼ 17.9%
Equity and liabilities €10.8m
Equity
€10.8m ▲ 0.3%
Debt
€5,977 ▲ 759%
Debt's share of the balance-sheet total stays at 0.1%.
Key figures and ratios
Current ratio
18.06
Debt to equity
0.00▲
2024 · 0.00
ROE
0.3%▼
2024 · 0.3%
ROA
0.3%▼
2024 · 0.3%
Debt ≤ 1 year
€5,977▲
2024 · €696
Income taxes
€10,500▼
2024 · €12,000
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | €59,901 | - | €59,902 | €59,901 | €59,901 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | - | - | €150 | €0.001m | €0.001m | ▲ 3.2% |
| Gross operating margin9900 | -€0.02m | -€0.02m | -€0.03m | -€0.03m | -€0.01m | -€0.01m | -€0.01m | -€0.02m | ▼ 52.7% |
| Operating profit (loss)9901 | -€0.02m | -€0.02m | -€0.03m | -€0.03m | -€0.01m | -€0.01m | -€0.01m | -€0.02m | ▼ 48.7% |
| Financial income75/76B | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Recurring financial income75 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Financial charges65/66B | - | - | - | €392 | €286 | €446 | €0.001m | €463 | ▼ 35.1% |
| Recurring financial charges65 | €170 | €251 | €188 | €392 | €286 | €446 | €0.001m | €463 | ▼ 35.1% |
| Profit (loss) for the period before taxes9903 | €0.04m | -€31.7m | -€33.1m | €0.03m | €0.05m | €0.05m | €0.05m | €0.04m | ▼ 11.8% |
| Income taxes67/77 | - | - | €0.002m | €0.005m | €0.01m | €0.01m | €0.01m | €0.01m | ▼ 12.5% |
| Profit (loss) for the period9904 | €0.04m | -€31.7m | -€33.1m | €0.02m | €0.04m | €0.04m | €0.04m | €0.03m | ▼ 11.6% |
| Profit (loss) for the period to be appropriated9905 | €0.04m | -€31.7m | -€33.1m | €0.02m | €0.04m | €0.04m | €0.04m | €0.03m | ▼ 11.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €75.4m | €43.7m | €10.6m | €10.7m | €10.7m | €10.7m | €10.8m | €10.8m | ▲ 0.3% |
| Fixed assets21/28 | €75.3m | €43.6m | €10.5m | €10.5m | €10.5m | €10.6m | €10.6m | €10.7m | ▲ 0.6% |
| Financial fixed assets28 | €75.3m | €43.6m | €10.5m | €10.5m | €10.5m | €10.6m | €10.6m | €10.7m | ▲ 0.6% |
| Current assets29/58 | €0.06m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 17.9% |
| Amounts receivable within one year40/41 | - | - | €0.002m | €0.002m | - | - | - | €0.002m | - |
| Trade receivables40 | - | - | - | - | - | - | - | €0.002m | - |
| Other amounts receivable41 | - | - | - | €0.002m | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.06m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 19.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €75.4m | €43.7m | €10.6m | €10.7m | €10.7m | €10.7m | €10.8m | €10.8m | ▲ 0.3% |
| Equity10/15 | €75.4m | €43.7m | €10.6m | €10.7m | €10.7m | €10.7m | €10.8m | €10.8m | ▲ 0.3% |
| Contributions10/11 | €75.3m | €75.3m | - | €75.3m | €75.3m | €75.3m | €75.3m | €75.3m | = |
| Reserves13 | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Non-distributable reserves130/1 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Reserves not available under the articles1311 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Profit (loss) carried forward14 | €0.07m | -€31.6m | -€64.7m | -€64.7m | -€64.6m | -€64.6m | -€64.6m | -€64.5m | = |
| Amounts payable17/49 | €0.009m | €0.002m | €0.004m | €0.005m | €0.009m | €0.01m | €0.001m | €0.006m | ▲ 759% |
| Amounts payable within one year42/48 | €0.009m | €0.002m | €0.004m | €0.005m | €0.009m | €0.01m | €0.001m | €0.006m | ▲ 759% |
| Trade debts44 | €0.009m | €0.002m | €0.004m | €0.002m | €420 | €175 | €0.001m | €0.006m | ▲ 759% |
| Suppliers440/4 | - | - | - | €0.002m | €420 | €175 | €0.001m | €0.006m | ▲ 759% |
| Taxes, remuneration and social security45 | - | - | - | €0.002m | €0.008m | €0.01m | - | - | - |
| Taxes450/3 | - | - | - | €0.002m | €0.008m | €0.01m | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €41 | €26 | €36 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.04m | -€31.7m | -€33.1m | €0.02m | €0.04m | €0.04m | €0.04m | €0.03m | ▼ 11.6% |
| Operating cash flow (approximation) | €0.04m | -€31.7m | -€33.1m | €0.02m | €0.04m | €0.04m | €0.04m | €0.03m | ▼ 11.6% |
| Investment in fixed assets (approximation) | - | €31.7m | €33.1m | €164 | €0 | -€0.06m | -€0.06m | -€0.06m | = |
| Change in cash | - | €0.04m | €0.03m | €0.02m | €0.05m | -€0.02m | -€0.03m | -€0.02m | ▲ 27.9% |
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 (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 16-06-2026 | 2026-00164803 | |
| 31-12-2024 | full format | 19-05-2025 | 2025-00099423 | |
| 31-12-2023 | micro format | 17-06-2024 | 2024-00134325 | |
| 31-12-2022 | micro format | 05-06-2023 | 2023-00109664 | |
| 31-12-2021 | micro format | 07-07-2022 | 2022-20171816 | |
| 31-12-2020 | micro format | 20-08-2021 | 2021-51900231 | |
| 31-12-2019 | micro format | 18-06-2020 | 2020-18200547 | |
| 31-12-2018 | micro format | 27-06-2019 | 2019-24400411 | |
| 31-12-2017 | micro format | 22-08-2018 | 2018-48500233 |