ACTIVE

CIRCUS BELGIUM

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Financial year 2025 · Closed on 31/12/2025

Net result1 M €-66,1 %over 1 year
Revenue45,6 M €-45,8 %over 1 year
Equity38,6 M €+6,7 %over 1 year
Workforce154,9 ETP-1,1 %over 1 year

Identity

Source · BCE/KBO

CIRCUS BELGIUM is a Public limited company incorporated in 1993. Its main activity is: Gambling and betting activities. Its registered office is in Liège. It employs on average 154,9 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0451.000.609
Incorporation
28/09/1993
Legal form
Public limited company
Registered office
Rue des Guillemins 129
4000 Liège · WallonieSee on map
Contributed capital
1 700 000,00 €
Latest accounts
31/12/2025
Average workforce
154,9 ETP
Joint committees (3)
  • 14904
  • 200
  • 218
Contacts
2 public details availableLog in to view
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 18 financial years

20252024202220212020
Income statement
Revenue45,6 M €84,2 M €109,8 M €91,3 M €74,8 M €
EBITDA9,8 M €11,7 M €27,6 M €29,6 M €28 M €
Operating result3,8 M €6,3 M €23,2 M €26,7 M €25,8 M €
Net result1 M €3,1 M €14,8 M €18,2 M €19 M €
Balance sheet
Equity38,6 M €36,2 M €78,6 M €63,8 M €45,6 M €
Total assets50,6 M €48,1 M €92 M €77,8 M €64,4 M €
Cash9,8 M €9,3 M €5,6 M €7,8 M €5,8 M €
Debts11,7 M €11,7 M €13,3 M €13,9 M €18,7 M €
Other
Workforce154,9 ETP156,7 ETP135,0 ETP121,3 ETP102,4 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 35 ended

Active mandates

Emmanuel MEWISSEN

Director · since 18 mars 2024 · until 10 juin 2030

Active
Sylvain BONIVER

Director · since 07 juillet 2022 · until 12 juin 2028

Active
Nicolas LEONARD

Managing director · since 07 juin 2021 · until 14 juin 2027

Active

Ended mandates

Sylvain BONIVER

Director · since 07 juillet 2022 · until 07 juillet 2028

Ended
GESTION LOISIRS

Chairman of the board of directors · since 07 juin 2021 · until 06 juin 2027 · 0430.309.618

Represented by Emmanuel MEWISSEN

Ended
Nicolas LEONARD

Managing director · since 07 juin 2021 · until 06 juin 2027

Ended
SOFABO

Managing director · since 07 juin 2021 · until 07 juillet 2022 · 0422.978.396

Represented by Victor BOSQUIN

Ended

Other companies at this address

Rue des Guillemins 129 4000 Liège
CompanyCBE no.
ALLIN1● Active
1009.334.983
ARDENT BETTING● Active
0459.573.924
ARDENT CASINO INTERNATIONAL● Active
0700.809.954
BIGB GAMING● Active
0779.530.008
CIRCUS SERVICES● Active
0864.036.507
CORTEX HOLDING● Active
0555.947.679
EURO 78● Active
0423.111.426
Fondation Privée FOUNDATION1● Active
0788.196.759
FOUNDATION ALLIN1● Active
1009.343.594
GAMBLING MANAGEMENT● Active
0859.984.677
GAMBLING REAL ESTATE● Active
0700.808.271
GAMES SERVICES● Active
0423.669.076
GAMING ARDENT● Active
0667.768.487
HQ1● Active
0738.871.467
IP Trade● Active
0473.113.837
LUCKY BET● Active
0843.750.342
Meuse Bidco● Active
0778.683.336
Meuse Finco● Active
0778.734.311
Meuse Midco● Active
0778.513.684
NAMUR CASINO RESORT● Active
0654.871.150

Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date15/06/202626/06/202501/07/202407/07/202326/08/202231/08/2021
General meeting08/06/202610/06/202528/06/202412/06/202330/06/202230/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202508/06/202615/06/2026FrenchPDF
Full model31/12/202410/06/202526/06/2025FrenchPDF
Full model31/12/202328/06/202401/07/2024FrenchPDF
Full model31/12/202212/06/202307/07/2023FrenchPDF
Full model31/12/202130/06/202226/08/2022FrenchPDF
Full model31/12/202030/06/202131/08/2021FrenchPDF
Full model31/12/201903/07/202015/09/2020FrenchPDF
Full model31/12/201803/06/201923/08/2019FrenchPDF
Full model31/12/201704/06/201831/08/2018FrenchPDF
Full model31/12/201612/06/201727/07/2017FrenchPDF
Full model31/12/201530/06/201631/08/2016FrenchPDF
Full model31/12/201401/06/201530/07/2015FrenchPDF
Full model31/12/201302/06/201423/07/2014FrenchPDF
Full model31/12/201203/06/201307/01/2014FrenchPDF
Full model31/12/201118/06/201218/07/2012FrenchPDF
Full model31/12/201006/06/201105/07/2011FrenchPDF
Full model31/12/200914/07/201020/07/2010FrenchPDF
Full model31/12/200808/06/200920/06/2009FrenchPDF
Full model31/12/200702/06/200802/07/2008FrenchPDF
Full model31/12/200604/06/200702/07/2007FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 35 ended

Active mandates

Emmanuel MEWISSEN

Director · since 18 mars 2024 · until 10 juin 2030

Active
Sylvain BONIVER

Director · since 07 juillet 2022 · until 12 juin 2028

Active
Nicolas LEONARD

Managing director · since 07 juin 2021 · until 14 juin 2027

Active

Ended mandates

Sylvain BONIVER

Director · since 07 juillet 2022 · until 07 juillet 2028

Ended
GESTION LOISIRS

Chairman of the board of directors · since 07 juin 2021 · until 06 juin 2027 · 0430.309.618

Represented by Emmanuel MEWISSEN

Ended
Nicolas LEONARD

Managing director · since 07 juin 2021 · until 06 juin 2027

Ended
SOFABO

Managing director · since 07 juin 2021 · until 07 juillet 2022 · 0422.978.396

Represented by Victor BOSQUIN

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Restructuring17/07/2026
    Met fusie door overneming gelijkgestelde verrichtingen
    PDF
  • Restructuring17/07/2026
    Opération assimilée à une fusion par absorption
    PDF
  • Mandates07/07/2026
    Renouvellement du mandat du commissaire
    PDF
  • Mandates15/06/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Restructuring28/05/2026
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Restructuring28/05/2026
    RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Mandates27/03/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates13/02/2026
    DEMISSIONS, NOMINATIONS
    PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 23/03/2026
    nominationJulien PETITNIOT — mandataire spécial
  2. 02/03/2026
    nominationMarlène BERTRAND — mandataire spécial
  3. 05/01/2026
    nominationJulie OOMS — mandataire spécial
  4. 2025
    Annual accounts 20251 M €↓
  5. 14/04/2025
    nominationSteven SCHEERS — mandataire spécial
  6. 01/01/2025
    augmentation_capital
  7. 2024
    Annual accounts 20243,1 M €↓
  8. 17/07/2024
    nominationCatheline DUVIVIER — mandataire spécial (ressources humaines)
  9. 17/07/2024
    nominationAurélie BARILLARO — mandataire spécial (ressources humaines)
  10. 17/07/2024
    nominationAnne LAMBERT — mandataire spécial (ressources humaines)
  11. 17/07/2024
    nominationDorian VERFAILLE — mandataire spécial (ressources humaines)
  12. 18/03/2024
    nominationEmmanuel Mewissen — administrateur
  13. 12/10/2023
    reconductionBDO BEDRIJFSREVISOREN-BDO REVISEURS D'ENTREPRISES — commissaire
  14. 12/10/2023
    nominationChristian Schmetz — représentant permanent
  15. 01/01/2023
    autre
  16. 2022
    Annual accounts 202214,8 M €↓
  17. 07/07/2022
    nominationSylvain Boniver — administrateur
  18. 07/07/2022
    nominationSylvain Boniver — bestuurder
  19. 2021
    Annual accounts 202118,2 M €↓
  20. 2020
    Annual accounts 202019 M €↑
  21. 2019
    Annual accounts 201910,3 M €↑
  22. 2018
    Annual accounts 20187 M €↑
  23. 2017
    Annual accounts 20175,5 M €↑
  24. 2016
    Annual accounts 20162,7 M €↑
  25. 2015
    Annual accounts 20152,4 M €↑
  26. 2014
    Annual accounts 20141,8 M €↓
  27. 2013
    Annual accounts 20132,2 M €↓
  28. 2012
    Annual accounts 20122,6 M €↑
  29. 2011
    Annual accounts 20112 M €↑
  30. 2010
    Annual accounts 20101,5 M €↑
  31. 2009
    Annual accounts 2009618,9 k €↑
  32. 2008
    Annual accounts 2008613 k €↓
  33. 2006
    Annual accounts 20061,6 M €
  34. 28/09/1993
    IncorporationPublic limited company