Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 96 to 71.8.
Financials
Financial year 2025
Circet Projects from Zaventem, company number BE0464702650, closed financial year 2025 with a result of € -1.9 million after tax. For that financial year Circet Projects recorded revenue of € 39.2 million and equity of € 6.8 million. Compared with financial year 2024, the result moved from € 731,265 to € -1.9 million. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 22, 2026.
€ 6.8 million
▼ 22% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.9 million
▼ still € 731,265 profit in 2024
Profit after tax over the fiscal year.
€ 2 million
▼ 16% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 1.2 million.
People and assets in 2025
71.8
▼ 16.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 5.2 million
▼ 17% vs 2024
€ 71,800 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 42,995
▼ 34% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.6 million
▼ 30% vs 2024
€ 190,000 is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 12.3 million
▲ 84% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 127 days on average.
€ 749,927
▼ 32% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 21,473,884 | € 13,613,094 | € 33,054,030 | € 39,199,573 | ▲ 19% |
| Profit after taxes | € 1,228,739 | € -90,145 | € 731,265 | € -1,887,556 | ▼ € 2.6 million |
| Equity | € 8,044,653 | € 7,954,508 | € 8,685,773 | € 6,798,217 | ▼ 22% |
| Total debts | € 15,468,261 | € 9,593,657 | € 10,316,529 | € 16,162,014 | ▲ 57% |
| Cash | € 446,695 | € 985,842 | € 2,355,970 | € 1,986,403 | ▼ 16% |
| Retained profit | € 2,456,534 | € 2,366,389 | € 3,097,654 | € 1,210,098 | ▼ 61% |
| Bank debt | € 2,385,644 | € 3,885,786 | € 2,223,132 | € 1,560,000 | ▼ 30% |
| Balance sheet total | € 23,512,914 | € 17,548,164 | € 19,002,301 | € 22,960,231 | ▲ 21% |
| Employees (FTE) | 80.5 | 96 | 88.2 | 71.8 | ▼ 16.4 |
Key figures of Circet Projects, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Circet Projects?
What happened at Circet Projects in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Plan F NV stepped down as director. NBB
- MACS NV stepped down as director. NBB
- pbMAC BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 1.9 million (▼ € 2.6 million vs 2024). Source: NBB ↗
- New establishment in Kontich. KBO
- Plan F NV became a director. NBB
- MACS NV became a director. NBB
- pbMAC BV became a director. NBB
In short
From € 1.2 million profit in 2022 to € 1.9 million loss in 2025.
Paid € 118,425 in corporate taxes since 2022.
Best year ever: 2022, with € 1.2 million profit.
Pays suppliers within 127 days on average.
Management
The shares are held by Circet Benelux (100%).
Directors
According to the 2025 annual accounts
Director · represented by Gert De Win
Also active at: TELETRONIKA, Circet Benelux, CIRCET BELGIUM, Circet Infratechniek
since 2023 · until 2029
Director · represented by Bavo De Cock
Also active at: TELETRONIKA, DC Capital, Circet Benelux, CIRCET BELGIUM, Circet Infratechniek
since 2023 · until 2029
Director · represented by Patrick Block
Also active at: TELETRONIKA, Vaartwarmte, WARM, Warmtenet Antwerpen Zuid, CIRCET BELGIUM, Circet Infratechniek
since 2023 · until 2029
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Excelsiorlaan 35
1930 Zaventem
Grote Steenweg 50
2550 Kontich
Active since 1 July 2015
Satenrozen 13
2550 Kontich
Active since 1 January 2025
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0464.702.650
- VAT number
- BE 0464.702.650
- Registered office
- Excelsiorlaan 35, 1930 Zaventem
- Names & denominations
- Circet Projects
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 27 November 1998
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Bouw van civieltechnische werken voor elektriciteit en telecommunicatie
Overige diensten op het gebied van informatietechnologie en computer
Overige activiteiten in verband met computers