The volume integral equation method based on the current vector potential approximated by means of edge element basis function is a well-established approach for 3D eddy currents computation. Within this approach the unknowns of the problem are expressed in terms of projection of the current vector potential along the edges of the discretization and a solving system is obtained based on tree/cotree decomposition of the primal graph. Due to its integral nature, an interpretation of the method in terms of circuits can be made. In this paper, the link between the volume integral equation method and the circuit is investigated and the numerical model is formulated in terms of a distributed parameter equivalent RL circuit. The numerical equivalent circuit is applied for investigating the lateral levitation force between a PM and a bulk superconductor with axial symmetry. The comparison between calculated and measured values is presented.