THE ENERGY CIRCLE
0427.122.969 · rovalta.com · 22/09/2026
ACTIVE
THE ENERGY CIRCLE
Financial year 2025 · closed on 31/12/2025
Net result
191,8 k €
-25.7% YoY
Revenue
43,8 M €
-3.9% YoY
Equity
3,6 M €
+5.6% YoY
Workforce
171,9 ETP
-6.1% YoY
Overview
What does THE ENERGY CIRCLE do?
THE ENERGY CIRCLE is a Public limited company incorporated in 1985. Its registered office is in Hasselt. It employs on average 171,9 ETP workers (FTE).
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0427.122.969
Incorporation
26/03/1985
Legal form
Public limited company
Registered office
Diepenbekerweg 11
3500 Hasselt · FlandreSee on map
3500 Hasselt · FlandreSee on map
Contributed capital
1 228 800,00 €
Latest accounts
31/12/2025
Average workforce
171,9 ETP
Joint committees (4)
- 124
- 14901
- 200
- 218
Signals
ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue
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Financials
Trend over 19 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||||||||
| Revenue | 43,8 M € | -3.9% | 45,6 M € | +127% | 20,1 M € | +28.7% | 15,6 M € | +7.7% | 14,5 M € | +23.1% | 11,8 M € | +9.2% | 10,8 M € | -40.6% | 18,1 M € | +35.4% | 13,4 M € | +7.8% | 12,4 M € | -17.6% | 15,1 M € | +12.6% | 13,4 M € | -46.4% | 25 M € | +55.9% | 16 M € | +37.3% | 11,7 M € | -23.2% | 15,2 M € | +33.8% | 11,4 M € | +1.2% | 11,2 M € | -37.1% | 17,9 M € |
| EBITDA | 406,2 k € | -44.7% | 734,3 k € | +512% | 120 k € | -77.8% | 540,9 k € | +156% | 211,4 k € | +134% | -619 k € | -33.1% | -465,2 k € | -446% | 134,3 k € | -65.0% | 383,6 k € | +583% | 56,2 k € | -93.7% | 889,7 k € | +82.8% | 486,7 k € | -62.5% | 1,3 M € | +158% | 502,8 k € | +180% | 179,4 k € | +20.8% | 148,5 k € | -25.5% | 199,2 k € | -63.2% | 541,9 k € | -36.9% | 858,3 k € |
| Operating result | 342,8 k € | -44.0% | 612,6 k € | +59.2% | 384,8 k € | +546% | 59,5 k € | -58.3% | 142,8 k € | +131% | -461,5 k € | +14.8% | -541,3 k € | -13248% | -4,1 k € | -101% | 274,5 k € | +344% | -112,7 k € | -115% | 762 k € | +120% | 347 k € | -68.5% | 1,1 M € | +192% | 377,7 k € | +226% | 115,8 k € | +401% | 23,1 k € | -84.3% | 146,9 k € | -71.1% | 508,9 k € | -23.2% | 662,7 k € |
| Net result | 191,8 k € | -25.7% | 258,3 k € | +10.3% | 234,3 k € | +1078% | -23,9 k € | -119% | 125,1 k € | +201408% | 62,1 € | +100% | -716,3 k € | -546% | -110,8 k € | -371% | 40,9 k € | +146% | -88,2 k € | -121% | 429,1 k € | +148% | 172,8 k € | -73.1% | 643,1 k € | +249% | 184,2 k € | +809% | -26 k € | +47.2% | -49,2 k € | -157% | 86,1 k € | -62.1% | 226,9 k € | +303% | -111,9 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||||||
| Equity | 3,6 M € | +5.6% | 3,4 M € | +159% | 1,3 M € | +21.7% | 1,1 M € | -2.2% | 1,1 M € | +12.8% | 977,9 k € | +0.0% | 977,8 k € | -42.3% | 1,7 M € | -6.1% | 1,8 M € | +1.7% | 1,8 M € | -4.7% | 1,9 M € | +26.5% | 1,5 M € | +11.8% | 1,3 M € | +80.0% | 731,2 k € | +29.9% | 563 k € | -4.4% | 589 k € | -7.7% | 638,2 k € | +21.1% | 527,1 k € | +75.6% | 300,2 k € |
| Total assets | 19,3 M € | +8.6% | 17,7 M € | +125% | 7,9 M € | +17.8% | 6,7 M € | +23.6% | 5,4 M € | +11.3% | 4,8 M € | +23.6% | 3,9 M € | -48.7% | 7,6 M € | +10.9% | 6,9 M € | -1.4% | 7 M € | +15.3% | 6,1 M € | +16.9% | 5,2 M € | +2.6% | 5,1 M € | -24.8% | 6,7 M € | +57.5% | 4,3 M € | +11.9% | 3,8 M € | -20.6% | 4,8 M € | +41.3% | 3,4 M € | -40.1% | 5,7 M € |
| Cash | 1,8 M € | +305% | 440,9 k € | -54.8% | 976,1 k € | +20.2% | 812,3 k € | +50.1% | 541,2 k € | +15.7% | 467,9 k € | -47.9% | 898,5 k € | -5.4% | 949,3 k € | +130% | 412,1 k € | -33.4% | 618,8 k € | -3.2% | 639,5 k € | +232% | 192,4 k € | -55.2% | 429,7 k € | +31.7% | 326,3 k € | +872% | 33,6 k € | +8.5% | 30,9 k € | +27.0% | 24,4 k € | -77.2% | 106,7 k € | -40.5% | 179,2 k € |
| Debts | 15,5 M € | +10.1% | 14,1 M € | +119% | 6,4 M € | +24.5% | 5,2 M € | +21.7% | 4,2 M € | +10.1% | 3,9 M € | +31.1% | 2,9 M € | -50.4% | 5,9 M € | +16.5% | 5,1 M € | -2.3% | 5,2 M € | +23.9% | 4,2 M € | +14.1% | 3,7 M € | -1.4% | 3,7 M € | -37.6% | 6 M € | +61.7% | 3,7 M € | +14.9% | 3,2 M € | -22.6% | 4,2 M € | +47.4% | 2,8 M € | -47.1% | 5,3 M € |
| Other | |||||||||||||||||||||||||||||||||||||
| Workforce | 171,9 ETP | -6.1% | 183,0 ETP | +159% | 70,7 ETP | +2.3% | 69,1 ETP | +3.4% | 66,8 ETP | -11.9% | 75,8 ETP | +46.3% | 51,8 ETP | -17.0% | 62,4 ETP | +13.9% | 54,8 ETP | +0.9% | 54,3 ETP | -6.1% | 57,8 ETP | -10.2% | 64,4 ETP | -26.8% | 88,0 ETP | +7.2% | 82,1 ETP | +0.7% | 81,5 ETP | -10.6% | 91,2 ETP | +5.3% | 86,6 ETP | -2.3% | 88,6 ETP | -1.1% | 89,6 ETP |
Estimate
Indicative valuation
As an indication, this company is worth
between 5 M€ and 10 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 7 active · 32 ended
Active mandates
Active
Active
Active
Active
Active
Active
Thierry Van Osselaer
ActiveEnded mandates
At this address
Other companies at this address
| Company | CBE no. |
|---|---|
AEW Green● Active | 0897.492.894 |
AEW Security● Active | 0524.976.866 |
AURORA SERVICES● Active | 1004.683.636 |
DAENINCK & DEWEERDT● Active | 0405.101.890 |
| 0802.937.195 |
Financials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Full model | Full model | Full model | Full model | Full model | Full model |
| Start of the financial year | 01/01/2025 | 01/01/2024 | 01/01/2023 | 01/01/2022 | 01/01/2021 | 01/01/2020 |
| Closing of the financial year | 31/12/2025 | 31/12/2024 | 31/12/2023 | 31/12/2022 | 31/12/2021 | 31/12/2020 |
| Length of the financial year | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months |
| Filing date | 03/07/2026 | 04/06/2025 | 02/07/2024 | 03/08/2023 | 22/06/2022 | 18/06/2021 |
| General meeting | 12/06/2026 | 30/05/2025 | 28/06/2024 | 03/08/2023 | 25/05/2022 | 26/05/2021 |
| Currency of the financial year | EUR | EUR | EUR | EUR | EUR | EUR |
| NBB quality label | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls |
Ratios
Financial ratios
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
19 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Full model | 31/12/2025 | 12/06/2026 | 03/07/2026 | Dutch | |
| Full model | 31/12/2024 | 30/05/2025 | 04/06/2025 | Dutch | |
| Full model | 31/12/2023 | 28/06/2024 | 02/07/2024 | Dutch | |
| Full model | 31/12/2022 | 03/08/2023 | 03/08/2023 | Dutch | |
| Full model | 31/12/2021 | 25/05/2022 | 22/06/2022 | Dutch | |
| Full model | 31/12/2020 | 26/05/2021 | 18/06/2021 | Dutch | |
| Full model | 31/12/2019 | 27/05/2020 | 28/05/2020 | Dutch | |
| Full model | 31/12/2018 | 29/05/2019 | 08/07/2019 | Dutch | |
| Full model | 31/12/2017 | 30/05/2018 | 26/06/2018 | Dutch | |
| Full model | 31/12/2016 | 31/05/2017 | 26/06/2017 | Dutch | |
| Full model | 31/12/2015 | 25/05/2016 | 09/06/2016 | Dutch | |
| Full model | 31/12/2014 | 27/05/2015 | 19/06/2015 | Dutch | |
| Full model | 31/12/2013 | 22/04/2014 | 12/05/2014 | Dutch | |
| Full model | 30/06/2012 | 16/11/2012 | 21/11/2012 | Dutch | |
| Full model | 30/06/2011 | 09/12/2011 | 23/12/2011 | Dutch | |
| Full model | 30/06/2010 | 19/11/2010 | 15/12/2010 | Dutch | |
| Full model | 30/06/2009 | 20/11/2009 | 17/12/2009 | Dutch | |
| Full model | 30/06/2008 | 07/11/2008 | 02/12/2008 | Dutch | |
| Full model | 30/06/2007 | 21/01/2008 | 01/02/2008 | Dutch |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 5 M€ and 10 M€
The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 7 active · 32 ended
Active mandates
Active
Active
Active
Active
Active
Active
Thierry Van Osselaer
ActiveEnded mandates
Shareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Mandates03/02/2026ONTSLAGEN - BENOEMINGEN
- Mandates29/09/2025ONTSLAGEN - BENOEMINGEN
- Restructuring03/09/2024BENAMING - DOEL - KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
- Mandates19/06/2024ONTSLAGEN - BENOEMINGEN
- Restructuring06/06/2024RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
- Other13/03/2024STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
- Mandates03/11/2023ONTSLAGEN - BENOEMINGEN
- Capital / shares12/07/2023KAPITAAL - AANDELEN
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025191,8 k €↓
- 2024Annual accounts 2024258,3 k €↑
- 2024Name changeThe Energy Circle
- 2023Annual accounts 2023234,3 k €↑
- 2022Annual accounts 2022-23,9 k €↓
- 2021Annual accounts 2021125,1 k €↑
- 2020Annual accounts 202062,1 €↑
- 2019Annual accounts 2019-716,3 k €↓
- 2018Annual accounts 2018-110,8 k €↓
- 2017Annual accounts 201740,9 k €↑
- 2016Annual accounts 2016-88,2 k €↓
- 2015Annual accounts 2015429,1 k €↑
- 2014Annual accounts 2014172,8 k €↓
- 2013Annual accounts 2013643,1 k €↑
- 2012Annual accounts 2012184,2 k €↑
- 2011Annual accounts 2011-26 k €↑
- 2010Annual accounts 2010-49,2 k €↓
- 2009Annual accounts 200986,1 k €↓
- 2008Annual accounts 2008226,9 k €↑
- 2007Annual accounts 2007-111,9 k €
- 2007Name changeA.E.W. NV
- 26/03/1985IncorporationPublic limited company