ACTIVE

Smart2Circle

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Financial year 2025 · Closed on 31/12/2025

Net result38,3 k €-77,5 %over 1 year

Gross margin648,6 k €+6,9 %over 1 year

Equity210,7 k €0,0 %over 1 year

Workforce8,5 ETP+41,7 %over 1 year

Identity

Source · BCE/KBO

Smart2Circle is a Private limited company incorporated in 2018. Its main activity is: Computer programming activities. Its registered office is in Liège. It employs on average 8,5 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0700.423.043
Incorporation: 26/07/2018
Legal form: Private limited company
Registered office: Rue de Mulhouse 36
4020 Liège · WallonieSee on map
Contributed capital: 6 200,00 €
Latest accounts: 31/12/2025
Average workforce: 8,5 ETP

Activities (NACE)

62010Computer programming activities· main 62100Computer programming, consultancy and related activities 74909Other professional, scientific and technical activities n.e.c.74999Other professional, scientific and technical activities n.e.c.70200Management consultancy activities 70220Business and other management consultancy activities

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 7 filings

Trend over 7 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	648,6 k €	+6.9%	606,6 k €	+127%	267,5 k €	+118%	122,9 k €	+72.1%	71,4 k €
EBITDA	78,9 k €	-69.6%	259,4 k €	+131%	112,2 k €	+449%	20,4 k €	+9.2%	18,7 k €
Operating result	66,7 k €	-73.4%	251 k €	+140%	104,6 k €	+762%	12,1 k €	+13.0%	10,7 k €
Net result	38,3 k €	-77.5%	170,6 k €	+163%	65 k €	+808%	7,2 k €	-16.9%	8,6 k €
Balance sheet
Equity	210,7 k €	0.0%	210,7 k €	+186%	73,6 k €	+748%	8,7 k €	+470%	1,5 k €
Total assets	476 k €	+10.4%	431 k €	+72.2%	250,3 k €	+108%	120,5 k €	+73.6%	69,4 k €
Cash	78,6 k €	-22.1%	101 k €	+579%	14,9 k €	+56.6%	9,5 k €	+244%	2,8 k €
Debts	264,7 k €	+20.1%	220,3 k €	+24.7%	176,6 k €	+59.2%	111 k €	+63.5%	67,9 k €
Other
Workforce	8,5 ETP	+41.7%	6,0 ETP	+107%	2,9 ETP	+61.1%	1,8 ETP		–

Valuation

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 2 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
FLN CONSULT0762.635.576Represented by Stéphanie FELLEN	Directorsince 15/12/2021
LABEXHE0543.598.787Represented by Pierre LABALUE	Directorsince 15/12/2021

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Pierre LABALUE	Director2020 accounts
Stéphanie FELLEN	Director2020 accounts

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Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Micro model	Micro 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	24/07/2026	29/07/2025	29/07/2024	22/08/2023	12/07/2022	30/08/2021
General meeting	15/06/2026	24/07/2025	23/07/2024	30/06/2023	10/06/2022	11/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 7 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	15/06/2026	24/07/2026	French	PDF
Abridged model	31/12/2024	24/07/2025	29/07/2025	French	PDF
Abridged model	31/12/2023	23/07/2024	29/07/2024	French	PDF
Abridged model	31/12/2022	30/06/2023	22/08/2023	French	PDF
Micro model	31/12/2021	10/06/2022	12/07/2022	French	PDF
Micro model	31/12/2020	11/06/2021	30/08/2021	French	PDF
Micro model	31/12/2019	12/06/2020	25/09/2020	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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

2 active · 2 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
FLN CONSULT0762.635.576Represented by Stéphanie FELLEN	Directorsince 15/12/2021
LABEXHE0543.598.787Represented by Pierre LABALUE	Directorsince 15/12/2021

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Pierre LABALUE	Director2020 accounts
Stéphanie FELLEN	Director2020 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Registered office06/05/2026
Transfert siège social
PDF
Other16/02/2024
OBJET
PDF
Registered office24/05/2023
Transfert siège social - Pouvoirs
PDF
Mandates20/12/2021
MODIFICATION FORME JURIDIQUE - DENOMINATION - DEMISSIONS, NOMINATIONS
PDF
Registered office12/02/2021
SIEGE SOCIAL - MODIFICATION FORME JURIDIQUE
PDF
Mandates06/02/2019
DENOMINATION - SIEGE SOCIAL - OBJET - DEMISSIONS, NOMINATIONS
PDF
Other30/07/2018
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
PDF

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings7 filings

Mandates

LABEXHE

FLN CONSULT

Stéphanie FELLEN

Pierre LABALUE

201820192020202120222023202420252026

Smart2Circle

Esplanade Simone Veil 1, 4000 Liège

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Rue de Mulhouse 36, 4020 Liège-4020Current		CBE
Rue de Mulhouse 36, 4000 Liège	accounts 2025	Accounts 2025 · 2026-00328223
Esplanade Simone Veil 1, 4000 Liège	accounts 2022 → 2024	Accounts 2024 · 2025-00344556
Rue Dartois 7, 4000 Liège	accounts 2021	Accounts 2021 · 2022-20173790

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
Smart2CircleCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00328223

Events

2025
Annual accounts 202538,3 k €↓
2024
Annual accounts 2024170,6 k €↑
2023
Annual accounts 202365 k €↑
2022
Annual accounts 20227,2 k €↓
2021
Annual accounts 20218,6 k €↑
2020
Annual accounts 2020-17,2 k €↓
2019
Annual accounts 20193,9 k €
26/07/2018
IncorporationPrivate limited company

Smart2Circle

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events