ACTIVE

Smart2Circle

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Financial year 2025 · closed on 31/12/2025
Net result
38,3 k €
-77.5% YoY
Gross margin
648,6 k €
+6.9% YoY
Equity
210,7 k €
0.0% YoY
Workforce
8,5 ETP
+41.7% YoY

What does Smart2Circle do?

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· main62100Computer programming, consultancy and related activities74909Other professional, scientific and technical activities n.e.c.74999Other professional, scientific and technical activities n.e.c.70200Management consultancy activities70220Business and other management consultancy activities
Joint committees (1)
  • 200
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 7 financial years

2025202420232022202120202019
Income statement
Gross margin648,6 k €606,6 k €267,5 k €122,9 k €71,4 k €16,4 k €26,5 k €
EBITDA78,9 k €259,4 k €112,2 k €20,4 k €18,7 k €-13,8 k €7,4 k €
Operating result66,7 k €251 k €104,6 k €12,1 k €10,7 k €-16,8 k €5,3 k €
Net result38,3 k €170,6 k €65 k €7,2 k €8,6 k €-17,2 k €3,9 k €
Balance sheet
Equity210,7 k €210,7 k €73,6 k €8,7 k €1,5 k €-7,1 k €10,1 k €
Total assets476 k €431 k €250,3 k €120,5 k €69,4 k €48,5 k €28,1 k €
Cash78,6 k €101 k €14,9 k €9,5 k €2,8 k €12,1 k €2,4 k €
Debts264,7 k €220,3 k €176,6 k €111 k €67,9 k €55,6 k €17,6 k €
Other
Workforce8,5 ETP6,0 ETP2,9 ETP1,8 ETP–––
Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

FLN CONSULT

Director · since 15 décembre 2021 · 0762.635.576

Represented by Stéphanie FELLEN

Active
LABEXHE

Director · since 15 décembre 2021 · 0543.598.787

Represented by Pierre LABALUE

Active

Ended mandates

FLN CONSULT

Director · 0762.635.576

Represented by Stéphanie FELLEN

Ended
LABEXHE

Director · 0543.598.787

Represented by Pierre LABALUE

Ended
Pierre LABALUE

Director

Ended
Stéphanie FELLEN

Director

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelMicro modelMicro 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 date24/07/202629/07/202529/07/202422/08/202312/07/202230/08/2021
General meeting15/06/202624/07/202523/07/202430/06/202310/06/202211/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

7 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202515/06/202624/07/2026FrenchPDF
Abridged model31/12/202424/07/202529/07/2025FrenchPDF
Abridged model31/12/202323/07/202429/07/2024FrenchPDF
Abridged model31/12/202230/06/202322/08/2023FrenchPDF
Micro model31/12/202110/06/202212/07/2022FrenchPDF
Micro model31/12/202011/06/202130/08/2021FrenchPDF
Micro model31/12/201912/06/202025/09/2020FrenchPDF
Estimate

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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

FLN CONSULT

Director · since 15 décembre 2021 · 0762.635.576

Represented by Stéphanie FELLEN

Active
LABEXHE

Director · since 15 décembre 2021 · 0543.598.787

Represented by Pierre LABALUE

Active

Ended mandates

FLN CONSULT

Director · 0762.635.576

Represented by Stéphanie FELLEN

Ended
LABEXHE

Director · 0543.598.787

Represented by Pierre LABALUE

Ended
Pierre LABALUE

Director

Ended
Stéphanie FELLEN

Director

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Registered office06/05/2026
    Transfert siège social
    PDF
  • Other16/02/2024
    OBJET
    PDF
  • Registered office24/05/2023
    SIEGE SOCIAL
    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

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

Timeline

  1. 2025
    Annual accounts 202538,3 k €↓
  2. 2024
    Annual accounts 2024170,6 k €↑
  3. 2023
    Annual accounts 202365 k €↑
  4. 2022
    Annual accounts 20227,2 k €↓
  5. 2021
    Annual accounts 20218,6 k €↑
  6. 2020
    Annual accounts 2020-17,2 k €↓
  7. 2019
    Annual accounts 20193,9 k €
  8. 26/07/2018
    IncorporationPrivate limited company