ACTIVE

CERcuits

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Financial year 2025 · Closed on 31/12/2025

Net result-121,1 k €-424,8 %over 1 year

Gross margin378,5 k €+4,9 %over 1 year

Equity398,4 k €-23,3 %over 1 year

Workforce6,3 ETP+16,7 %over 1 year

Identity

Source · BCE/KBO

CERcuits is a Private limited company incorporated in 2021. Its main activity is: Manufacture of electronic components. Its registered office is in Geel. It employs on average 6,3 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0768.521.003
Incorporation: 19/05/2021
Legal form: Private limited company
Registered office: Kleinhoefstraat 6
2440 Geel · FlandreSee on map
Contributed capital: 507 498,97 €
Latest accounts: 31/12/2025
Average workforce: 6,3 ETP

Activities (NACE)

26110Manufacture of electronic components· main 26110Manufacture of electronic components 26120Manufacture of loaded electronic boards 26120Manufacture of loaded electronic boards 26120Manufacture of loaded electronic boards 26120Manufacture of loaded electronic boards+4

Joint committees (2)

Signals

Solid equityPositive EBITDAHealthy social debts

Financials

Source · NBB, 5 filings

Trend over 5 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	378,5 k €	+4.9%	360,8 k €	+15.0%	313,7 k €	+326%	73,7 k €	+443%	13,6 k €
EBITDA	207,1 €	-99.7%	66,5 k €	-23.4%	86,8 k €	+1146%	7 k €	-29.1%	9,8 k €
Operating result	-110,5 k €	-710%	-13,6 k €	-129%	46,6 k €	+783%	-6,8 k €	-180%	8,6 k €
Net result	-121,1 k €	-425%	-23,1 k €	-158%	40,1 k €	+459%	-11,2 k €	-279%	6,2 k €
Balance sheet
Equity	398,4 k €	-23.3%	519,6 k €	+1201%	39,9 k €	+33203%	-120,7 €	-101%	11 k €
Total assets	753,9 k €	-6.8%	808,7 k €	+86.3%	434 k €	+76.7%	245,7 k €	+64.4%	149,4 k €
Cash	153,4 k €	+60.1%	95,8 k €	+96.7%	48,7 k €	+13.9%	42,8 k €	-43.8%	76 k €
Debts	349,9 k €	+23.4%	283,6 k €	-28.0%	394 k €	+61.5%	244 k €	+76.4%	138,3 k €
Other
Workforce	6,3 ETP	+16.7%	5,4 ETP	+10.2%	4,9 ETP	+250%	1,4 ETP	+1300%	0,1 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 3 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
LUPPENS0474.746.803Represented by Frederik Luppens	Directorsince 17/05/2021
SHS Investment LLCRepresented by Ahmad Jwania	Directorsince 09/04/2026
Anouchka Echelpoels	Director12/01/2024 → 09/04/2026

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
SHS Investment L.L.C0803.057.771Represented by Ahmad Jwania	Director03/09/2024 → 2024 accounts
Ahmad Jwania	Director12/01/2024 → 03/09/2024
Frederik Luppens	Director12/01/2024 → 03/09/2024

Other companies at this address

Kleinhoefstraat 6 2440 Geel

Company	CBE no.
CERcuits GP● Active	1035.790.744
CERcuits RSJJ● Active	1035.799.751
Digicount Advisory● Active	0802.427.154
Mitsanto● Active	0674.708.343
No Lobster● Active	0803.632.429
REGIONAAL TECHNOLOGISCH CENTRUM ANTWERPEN● Active	0873.514.296
Technologisch opleidings-en vormingscentrum Antwerpen● Active	0748.789.025
Tecno Bouw● Active	0454.810.333
Terra Energy● Active	0809.575.856
VALUE DRIVERS● Active	0479.112.395

Full financial information

Source · NBB

	2025	2024	2023	2022	2021
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	19/05/2021
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021
Length of the financial year	12 months	12 months	12 months	12 months	8 months
Filing date	31/07/2026	25/07/2025	30/07/2024	22/07/2023	31/05/2022
General meeting	30/06/2026	30/06/2025	24/06/2024	30/06/2023	04/05/2022
Currency of the financial year	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 5 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	31/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	25/07/2025	Dutch	PDF
Abridged model	31/12/2023	24/06/2024	30/07/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	22/07/2023	Dutch	PDF
Abridged model	31/12/2021	04/05/2022	31/05/2022	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

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 · 3 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
LUPPENS0474.746.803Represented by Frederik Luppens	Directorsince 17/05/2021
SHS Investment LLCRepresented by Ahmad Jwania	Directorsince 09/04/2026
Anouchka Echelpoels	Director12/01/2024 → 09/04/2026

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
SHS Investment L.L.C0803.057.771Represented by Ahmad Jwania	Director03/09/2024 → 2024 accounts
Ahmad Jwania	Director12/01/2024 → 03/09/2024
Frederik Luppens	Director12/01/2024 → 03/09/2024

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates23/04/2026
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/09/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/01/2024
DIVERSEN - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Other21/05/2021
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
PDF

Similar companies

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

Filings5 filings

Mandates

LUPPENS

SHS Investment LLC

Anouchka Echelpoels

SHS Investment L.L.C

Ahmad Jwania

Frederik Luppens

202120222023202420252026

CERcuits

Kleinhoefstraat 6, 2440 Geel

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Kleinhoefstraat 6, 2440 GeelCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00365358

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
CERcuitsCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00365358

Events

2025
Annual accounts 2025-121,1 k €↓
2024
Annual accounts 2024-23,1 k €↓
2023
Annual accounts 202340,1 k €↑
2022
Annual accounts 2022-11,2 k €↓
2021
Annual accounts 20216,2 k €
19/05/2021
IncorporationPrivate limited company

CERcuits

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