ACTIVE

Circet Projects

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Financial year 2025 · closed on 31/12/2025

Net result

-1,9 M €

-358.1% YoY

Revenue

39,2 M €

+18.6% YoY

Equity

6,8 M €

-21.7% YoY

Workforce

71,8 ETP

-18.6% YoY

What does Circet Projects do?

Circet Projects is a Public limited company incorporated in 1998. Its main activity is: Construction of utility projects for electricity and telecommunications. Its registered office is in Zaventem. It employs on average 71,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0464.702.650

Incorporation

27/11/1998

Legal form

Public limited company

Registered office

Excelsiorlaan 35
1930 Zaventem · FlandreSee on map

Contributed capital

5 588 118,80 €

Latest accounts

31/12/2025

Average workforce

71,8 ETP

Activities (NACE)

42220Construction of utility projects for electricity and telecommunications· main 42220Construction of utility projects for electricity and telecommunications 62090Other information technology and computer service activities 62900Computer programming, consultancy and related activities 72600Scientific research and development

Joint committees (4)

124
14901
200
218

Signals

Low riskGood liquidityHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	39,2 M €	+18.6%	33,1 M €	+143%	13,6 M €	-36.6%	21,5 M €	+37.0%	15,7 M €	-36.2%	24,6 M €	+5.3%	23,3 M €	-18.2%	28,5 M €	+10.3%	25,9 M €	+8.2%	23,9 M €	+385%	4,9 M €	-20.8%	6,2 M €	-4.9%	6,5 M €	-3.4%	6,8 M €	+2.0%	6,6 M €		–		–		–		–
EBITDA	-1,6 M €	-214%	1,4 M €	+80.2%	772,1 k €	-60.6%	2 M €	+49.2%	1,3 M €	+2402%	-57,1 k €	+98.9%	-5,2 M €	-443%	1,5 M €	+63.0%	929,6 k €	-42.0%	1,6 M €	+6223%	-26,2 k €	-109%	285,1 k €	+1039%	-30,4 k €	-115%	205 k €	-25.1%	273,7 k €	-35.2%	422 k €	-7.4%	455,7 k €	-50.6%	921,7 k €	+23.7%	745,4 k €
Operating result	-1,6 M €	-257%	1 M €	+399%	208,9 k €	-85.3%	1,4 M €	+75.3%	808,6 k €	+1390%	-62,7 k €	+99.3%	-8,5 M €	-780%	1,2 M €	+68.5%	738 k €	-51.7%	1,5 M €	+4055%	-38,7 k €	-114%	272,8 k €	+771%	-40,7 k €	-121%	191,1 k €	-26.0%	258,2 k €	-13.8%	299,7 k €	+471%	-80,7 k €	-127%	300,3 k €	+132%	129,7 k €
Net result	-1,9 M €	-358%	731,3 k €	+911%	-90,1 k €	-107%	1,2 M €	+120%	557,3 k €	+237%	-407,6 k €	+95.4%	-8,8 M €	-1521%	620,4 k €	+196%	209,7 k €	-77.6%	937,5 k €	+4884%	-19,6 k €	-110%	205,6 k €	+5432%	3,7 k €	-98.1%	196,6 k €	-37.4%	314 k €	-14.2%	365,9 k €	+554%	-80,6 k €	-128%	292,7 k €	+196%	98,8 k €
Balance sheet
Equity	6,8 M €	-21.7%	8,7 M €	+9.2%	8 M €	-1.1%	8 M €	+18.0%	6,8 M €	+8.9%	6,3 M €	+241%	-4,4 M €	-216%	3,8 M €	+19.3%	3,2 M €	+7.0%	3 M €	+45.2%	2,1 M €	-0.9%	2,1 M €	+10.9%	1,9 M €	+0.2%	1,9 M €	+11.7%	1,7 M €	-28.9%	2,4 M €	+18.2%	2 M €	-3.9%	2,1 M €	+16.3%	1,8 M €
Total assets	23 M €	+20.8%	19 M €	+8.3%	17,5 M €	-25.4%	23,5 M €	+31.2%	17,9 M €	+7.1%	16,7 M €	-17.6%	20,3 M €	-6.4%	21,7 M €	+42.2%	15,2 M €	-22.0%	19,5 M €	+345%	4,4 M €	+52.5%	2,9 M €	+15.5%	2,5 M €	-10.9%	2,8 M €	+13.1%	2,5 M €	-16.6%	3 M €	-0.3%	3 M €	+3.0%	2,9 M €	+14.5%	2,5 M €
Cash	2 M €	-15.7%	2,4 M €	+139%	985,8 k €	+121%	446,7 k €	-71.6%	1,6 M €	-22.6%	2 M €		–		1,3 M €	-57.0%	3,1 M €	+45.5%	2,1 M €	+193%	727,5 k €	+41.2%	515,3 k €	-27.5%	710,9 k €	+20.0%	592,2 k €	+24.8%	474,5 k €	-58.5%	1,1 M €	+102%	565,5 k €	-45.1%	1 M €	+238%	305 k €
Debts	16,1 M €	+58.1%	10,2 M €	+6.9%	9,5 M €	-38.1%	15,4 M €	+39.3%	11,1 M €	+5.8%	10,5 M €	-57.5%	24,6 M €	+38.9%	17,7 M €	+48.8%	11,9 M €	-27.4%	16,4 M €	+614%	2,3 M €	+193%	784 k €	+30.0%	603,1 k €	-30.7%	870,4 k €	+12.2%	775,9 k €	+33.4%	581,8 k €	-37.1%	924,5 k €	+20.2%	768,9 k €	+9.6%	701,6 k €
Other
Workforce	71,8 ETP	-18.6%	88,2 ETP	-8.1%	96,0 ETP	+19.3%	80,5 ETP	+14.3%	70,4 ETP	-8.7%	77,1 ETP	+1.0%	76,3 ETP	+14.1%	66,9 ETP	-5.1%	70,5 ETP	+34.0%	52,6 ETP	+150%	21,0 ETP	+14.8%	18,3 ETP	+120%	8,3 ETP	+38.3%	6,0 ETP	-6.3%	6,4 ETP	-7.2%	6,9 ETP	-25.0%	9,2 ETP	-33.8%	13,9 ETP	-5.4%	14,7 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 47 ended

Active mandates

managing Administration & Consultancy Services

Director · since 26 janvier 2023 · until 24 mai 2029 · 0888.089.636

Represented by Bavo De Cock

Active

PATRICK BLOCK MANAGEMENT CONSULTING

Director · since 26 janvier 2023 · until 24 mai 2029 · 0811.668.878

Represented by Patrick Block

Active

PLAN F

Director · since 26 janvier 2023 · until 24 mai 2029 · 0476.240.702

Represented by Gert De Win

Active

Ended mandates

BLANCO BLAD

Director · since 01 juin 2021 · until 26 janvier 2023 · 0819.657.423

Represented by Jo Van Gorp

Ended

BLANCO BLAD

Director · since 01 juin 2021 · 0819.657.423

Represented by Jo Van Gorp

Ended

RUJO CONSULTING & TRADING

Director · since 01 juin 2021 · until 26 janvier 2023 · 0862.856.669

Represented by Tony Verbeke

Ended

RUJO CONSULTING & TRADING

Director · since 01 juin 2021 · 0862.856.669

Represented by Tony Verbeke

Ended

At this address

Other companies at this address

Company	CBE no.
The Home Fabric● Active	0671.879.903

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	22/06/2026	24/06/2025	07/06/2024	03/07/2023	28/06/2022	30/04/2021
General meeting	28/05/2026	29/05/2025	30/05/2024	30/06/2023	21/06/2022	19/04/2021
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

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	28/05/2026	22/06/2026	Dutch	PDF
Full model	31/12/2024	29/05/2025	24/06/2025	Dutch	PDF
Full model	31/12/2023	30/05/2024	07/06/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	03/07/2023	Dutch	PDF
Full model	31/12/2021	21/06/2022	28/06/2022	Dutch	PDF
Full model	31/12/2020	19/04/2021	30/04/2021	Dutch	PDF
Full model	31/12/2019	25/06/2020	25/06/2020	Dutch	PDF
Full model	31/12/2018	31/05/2019	28/06/2019	Dutch	PDF
Full model	31/12/2017	09/06/2018	06/07/2018	Dutch	PDF
Full model	31/12/2016	12/06/2017	10/07/2017	Dutch	PDF
Full model	31/12/2015	17/06/2016	26/07/2016	Dutch	PDF
Full model	31/12/2014	12/06/2015	31/07/2015	Dutch	PDF
Full model	31/12/2013	23/06/2014	25/07/2014	Dutch	PDF
Full model	31/12/2012	30/05/2013	01/07/2013	Dutch	PDF
Full model	31/12/2011	31/05/2012	20/08/2012	Dutch	PDF
Abridged model	31/12/2010	26/05/2011	29/07/2011	Dutch	PDF
Abridged model	31/12/2009	27/05/2010	27/07/2010	Dutch	PDF
Abridged model	31/12/2008	28/05/2009	28/08/2009	Dutch	PDF
Abridged model	31/12/2007	24/04/2008	30/07/2008	Dutch	PDF
Abridged model	31/12/2006	31/05/2007	30/08/2007	Dutch	PDF

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.

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 47 ended

Active mandates

managing Administration & Consultancy Services

Director · since 26 janvier 2023 · until 24 mai 2029 · 0888.089.636

Represented by Bavo De Cock

Active

PATRICK BLOCK MANAGEMENT CONSULTING

Director · since 26 janvier 2023 · until 24 mai 2029 · 0811.668.878

Represented by Patrick Block

Active

PLAN F

Director · since 26 janvier 2023 · until 24 mai 2029 · 0476.240.702

Represented by Gert De Win

Active

Ended mandates

BLANCO BLAD

Director · since 01 juin 2021 · until 26 janvier 2023 · 0819.657.423

Represented by Jo Van Gorp

Ended

BLANCO BLAD

Director · since 01 juin 2021 · 0819.657.423

Represented by Jo Van Gorp

Ended

RUJO CONSULTING & TRADING

Director · since 01 juin 2021 · until 26 janvier 2023 · 0862.856.669

Represented by Tony Verbeke

Ended

RUJO CONSULTING & TRADING

Director · since 01 juin 2021 · 0862.856.669

Represented by Tony Verbeke

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/03/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/10/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/03/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/03/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/06/2023
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares21/04/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING - DOEL - KAPITAAL - AANDELEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

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

See the Business plan

2025
Annual accounts 2025-1,9 M €↓
2024
Annual accounts 2024731,3 k €↑
2023
Annual accounts 2023-90,1 k €↓
2023
Name changeCircet Projects
2022
Annual accounts 20221,2 M €↑
2022
Name changeCircet Projects NV ("voorheen Gritt Projects NV")
2021
Annual accounts 2021557,3 k €↑
2020
Annual accounts 2020-407,6 k €↑
2019
Annual accounts 2019-8,8 M €↓
2019
Name changeGritt Projects NV
2017
Annual accounts 2017620,4 k €↑
2016
Annual accounts 2016209,7 k €↓
2015
Annual accounts 2015937,5 k €↑
2014
Annual accounts 2014-19,6 k €↓
2014
Name changeTEC ICT
2013
Annual accounts 2013205,6 k €↑
2012
Annual accounts 20123,7 k €↓
2011
Annual accounts 2011196,6 k €↓
2010
Annual accounts 2010314 k €↓
2009
Annual accounts 2009365,9 k €↑
2008
Annual accounts 2008-80,6 k €↓
2007
Annual accounts 2007292,7 k €↑
2006
Annual accounts 200698,8 k €
2006
Name changeDIGIT 4
27/11/1998
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Circet Projects

Overview

What does Circet Projects do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline