CERcuits

Active

Private limited companyfounded 20215 yrs activeKleinhoefstraat 6, 2440 Geel, BelgiumKBO/BCE: BE 0768.521.003

CERcuits has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €398k and a net result of €-121k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 54% of 126 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

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Checked score

Score 2025

60 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0▼-65

Solvency78▼-11

Growth52=

Track record94

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €23k at 30 days acceptable

Liquidity tight (current ratio 1.2 against 2.72 in 2024; short-term debt: 35.9% and cash: 20.4% of total assets), and 47.1% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 26

Relative position

BE, all sectors

reference

Sector 26

lower

← fewer bankruptcies more bankruptcies →

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Persistent losses

Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.

NBB · annual accounts 2025

Net result per financial year

2122232425

2021 to 2025 · latest year €-121k

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.

NBB · 5 filings

Deviation from the deadline

2025

on the day

2024

6 d early

2023

1 d early

2022

9 d early

2021

61 d early

← before the deadline after the deadline →

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 months

Position in the running window

22-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, abbreviated schema

Equity

€398k▼ 23.3%

2024 · €520k

2021: €11k 2022: €-121 2023: €40k 2024: €520k

2021 → 2025

Total assets

€754k▼ 6.8%

2024 · €809k

2021: €149k 2022: €246k 2023: €434k 2024: €809k

2021 → 2025

Net result

€-121k▼ 425%

2024 · €-23k

2021: €6k 2022: €-11k 2023: €40k 2024: €-23k

2021 → 2025

Working capital

€54k▼ 80.8%

2024 · €279k

2021: €98k 2022: €39k 2023: €22k 2024: €279k

2021 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€11k-€-121€40k€520k▲ 1,201%€398k▼ 23.3%

Operating result€9k-€-7k€47k€-14k€-110k▼ 710%

Net result€6k-€-11k€40k€-23k€-121k▼ 425%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €110k in 2025 against €14k 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 €754k

57.0%

43.0%

Fixed assets €430k▲ 16.9%

Current assets €324k▼ 26.5%

Equity and liabilities €754k

52.9%

47.1%

Equity €398k▼ 23.3%

Debt €355k▲ 22.9%

The debt ratio rises from 35.8% to 47.1%. Equity is lower and debt is higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€207▼

2024 · €67k

Cash flow

€-10k▼

2024 · €57k

Solvency

52.9%▼

2024 · 64.2%

Current ratio

1.20▼

2024 · 2.72

Quick ratio

0.97▼

2024 · 2.45

Debt / equity

0.89▲

2024 · 0.56

ROE

-30.4%▼

2024 · -4.4%

ROA

-16.1%▼

2024 · -2.9%

Interest coverage

0.01▼

2024 · 6.35

Debt

€355k▲

2024 · €289k

Debt ≤ 1 year

€271k▲

2024 · €162k

Debt > 1 year

€79k▼

2024 · €122k

Income taxes

€627▲

2024 · €510

Staff costs

€374k▲

2024 · €291k

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€809k€754k▼

Fixed assets21/28€368k€430k▲

Intangible fixed assets21€202k€274k▲

Tangible fixed assets22/27€161k€151k▼

Plant, machinery and equipment23€159k€141k▼

Furniture and vehicles24€1k€5k▲

Other tangible fixed assets26€2k€5k▲

Financial fixed assets28€4k€4k=

Current assets29/58€441k€324k▼

Stocks and contracts in progress3€44k€63k▲

Stocks30/36€44k€63k▲

Amounts receivable within one year40/41€40k€87k▲

Trade receivables40€33k€78k▲

Other amounts receivable41€7k€8k▲

Current investments50/53€250k-

Cash at bank and in hand54/58€96k€153k▲

Deferred charges and accrued income490/1€12k€21k▲

Equity and liabilities

Total equity and liabilities10/49€809k€754k▼

Equity10/15€520k€398k▼

Contributions10/11€507k€507k=

Reserves13€12k-

Distributable reserves133€12k-

Profit (loss) carried forward14-€-109k

Amounts payable17/49€289k€355k▲

Amounts payable after more than one year17€122k€79k▼

Financial debts170/4€122k€79k▼

Amounts payable within one year42/48€162k€271k▲

Current portion of amounts payable after more than one year42€21k€42k▲

Trade debts44€103k€191k▲

Suppliers440/4€103k€191k▲

Taxes, remuneration and social security45€36k€33k▼

Taxes450/3€475€458▼

Remuneration and social security454/9€36k€33k▼

Other amounts payable47/48€1k€4k▲

Accrued charges and deferred income492/3€6k€6k▲

Income statement Code20242025

Non-recurring operating income76A€3k-

Remuneration, social security and pensions62€291k€374k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€80k€111k▲

Other operating charges640/8€4k€4k▲

Non-recurring operating charges66A€154€81▼

Gross operating margin9900€361k€378k▲

Operating profit (loss)9901€-14k€-110k▼

Financial income75/76B€2k€5k▲

Recurring financial income75€2k€5k▲

Financial charges65/66B€10k€15k▲

Recurring financial charges65€10k€15k▲

Profit (loss) for the period before taxes9903€-23k€-120k▼

Income taxes67/77€510€627▲

Profit (loss) for the period9904€-23k€-121k▼

Profit (loss) for the period to be appropriated9905€-23k€-121k▼

Appropriation of the result

Profit (loss) to be appropriated9906€-23k€-121k▼

Transfer from equity791/2€23k€12k▼

Social balance

Average headcount (FTE)90875.46.3▲

The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 9Financial 4Filings 5

Next filing, fiscal year 2026, expected by 31-07-2027

2026

31-07

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

31-12

Financial Weakest financial yearnet €-121k

Net result drops to €-121k, the lowest in the series.

25-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

31-12

Financial Liquidity doublescurrent ratio 2.72

Current ratio from 1.20 to 2.72.

31-12

Financial Equity above €500kEq €520k ▲1201%

Equity rises from €40k to €520k.

30-07

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

31-12

Financial Back to profitnet €40k

Net result €40k after one loss-making year.

22-07

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

31-05

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2024

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

03-09-2024 LUPPENS: Resigned as Director

03-09-2024 SHS Investment L.L.C: Resigned as Director

Location & real-estate footprint

Registered office, Geel · 1 establishment unit since 2021

establishment The establishment unit on the map

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.

Kleinhoefstraat 62440 Geel

Ground area

2.9 ha

Building footprint

4,402 m²