SER-TECH Industrial

Open bankruptcy

Public limited companyfounded 2008Leuvensesteenweg 192, 3290 Diest, BelgiumKBO/BCE: BE 0807.841.932

A bankruptcy procedure is open for SER-TECH Industrial according to publications in the Belgian State Gazette. The 2023 annual accounts show equity of €1.22M and a net result of €285k.

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Signals

Four signals. The signal on the left, the evidence on the right.

+raises risk○neutral

The KBO register records the legal situation: open bankruptcy (code 050). This is today's state according to the register itself; the register carries no start date.

KBO · legal situation

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Belgian State Gazette

Filed after the deadline

The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 26-08-2024, 26 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

not filed

2023

26 d late

2022

24 d late

2021

24 d late

2020

31 d late

2019

21 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2023, abbreviated schema

Equity

€1.22M▲ 30.7%

2022 · €930k

2018: €414k 2019: €592k 2020: €613k 2021: €731k 2022: €930k

2018 → 2023

Total assets

€3.32M▲ 1.3%

2022 · €3.28M

2018: €2.72M 2019: €3.28M 2020: €2.73M 2021: €2.81M 2022: €3.28M

2018 → 2023

Net result

€285k▲ 43.3%

2022 · €199k

2018: €123k 2019: €177k 2020: €22k 2021: €118k 2022: €199k

2018 → 2023

Working capital

€1.01M▲ 27.6%

2022 · €792k

2018: €404k 2019: €525k 2020: €563k 2021: €687k 2022: €792k

2018 → 2023

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20192020202120222023Trend

Equity€592k-€613k▲ 3.7%€731k▲ 19.2%€930k▲ 27.2%€1.22M▲ 30.7%

Operating result€296k-€52k▼ 82.4%€192k▲ 269%€258k▲ 34.1%€390k▲ 51.2%

Net result€177k-€22k▼ 87.7%€118k▲ 440%€199k▲ 69.1%€285k▲ 43.3%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

After the dip in 2020 the operating result has climbed three years in a row; 2023 is 51% above 2022 and is the highest result in the available series.

Balance-sheet composition

2023 in colour, 2022 as the grey bar beneath

Assets €3.32M

12%

88.1%

Fixed assets €395k▲ 32.0%

Current assets €2.92M▼ 1.7%

Equity and liabilities €3.32M

36.6%

60.2%

Equity €1.22M▲ 30.7%

Provisions €107k=

Debt €2.00M▼ 10.8%

The debt ratio falls from 68.3% to 60.2%. Equity is higher and debt is lower.

Key figures and ratios

2023 value · change against 2022

EBITDA

€493k▲

2022 · €346k

Cash flow

€389k▲

2022 · €287k

Solvency

36.6%▲

2022 · 28.4%

Current ratio

1.53▲

2022 · 1.36

Quick ratio

1.53▲

2022 · 1.36

Debt / equity

1.64▼

2022 · 2.41

ROE

23.5%▲

2022 · 21.4%

ROA

8.6%▲

2022 · 6.1%

Interest coverage

65.72▼

2022 · 121.91

Debt

€2.00M▼

2022 · €2.24M

Debt ≤ 1 year

€1.91M▼

2022 · €2.18M

Debt > 1 year

€65k▲

2022 · €33k

Income taxes

€129k▲

2022 · €85k

Staff costs

€1.17M▲

2022 · €984k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2023 against 2022

Balance sheet Code20222023

Assets

Total assets20/58€3.28M€3.32M▲

Fixed assets21/28€299k€395k▲

Tangible fixed assets22/27€282k€381k▲

Plant, machinery and equipment23€37k€42k▲

Furniture and vehicles24€209k€310k▲

Leasing and similar rights25€31k€24k▼

Other tangible fixed assets26€5k€4k▼

Financial fixed assets28€17k€14k▼

Current assets29/58€2.98M€2.92M▼

Amounts receivable within one year40/41€2.78M€2.68M▼

Trade receivables40€2.22M€2.07M▼

Other amounts receivable41€564k€614k▲

Cash at bank and in hand54/58€177k€221k▲

Deferred charges and accrued income490/1€19k€23k▲

Equity and liabilities

Total equity and liabilities10/49€3.28M€3.32M▲

Equity10/15€930k€1.22M▲

Contributions10/11€62k€62k=

Capital10€62k€62k=

Issued capital100€62k€62k=

Reserves13€868k€1.15M▲

Non-distributable reserves130/1€6k€6k=

Legal reserve130€6k€6k=

Distributable reserves133€862k€1.15M▲

Provisions and deferred taxes16€107k€107k=

Provisions for liabilities and charges160/5€107k€107k=

Other liabilities and charges164/5€107k€107k=

Amounts payable17/49€2.24M€2.00M▼

Amounts payable after more than one year17€33k€65k▲

Financial debts170/4€33k€65k▲

Amounts payable within one year42/48€2.18M€1.91M▼

Current portion of amounts payable after more than one year42€22k€26k▲

Trade debts44€1.97M€1.64M▼

Suppliers440/4€1.97M€1.64M▼

Advances received on contracts in progress46-€467

Taxes, remuneration and social security45€191k€246k▲

Taxes450/3€67k€97k▲

Remuneration and social security454/9€124k€149k▲

Other amounts payable47/48€267€1k▲

Accrued charges and deferred income492/3€22k€19k▼

Income statement Code20222023

Non-recurring operating income76A-€2k

Remuneration, social security and pensions62€984k€1.17M▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€88k€103k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€1k-

Other operating charges640/8€2k€2k▲

Gross operating margin9900€1.33M€1.66M▲

Operating profit (loss)9901€258k€390k▲

Financial income75/76B€29k€32k▲

Recurring financial income75€29k€32k▲

Financial charges65/66B€3k€7k▲

Recurring financial charges65€3k€7k▲

Profit (loss) for the period before taxes9903€284k€414k▲

Income taxes67/77€85k€129k▲

Profit (loss) for the period9904€199k€285k▲

Transfer from tax-exempt reserves789€31k-

Profit (loss) for the period to be appropriated9905€230k€285k▲

Appropriation of the result

Profit (loss) to be appropriated9906€230k€285k▲

Transfer to equity691/2€230k€285k▲

To other reserves6921€230k€285k▲

Social balance

Average headcount (FTE)908730.033.2▲

The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 15Signals 1Financial 4Filings 10

2025

11-08

Bankruptcy Opening

Ondernemingsrechtbank Leuven · SER-TECH INDUSTRIAL NV LEUVENSESTEENWEG 192, 3290 DIEST · event 05-08-2025

2024

26-08

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 26 days late

2023

31-12

Financial Highest result since 2018net €285k ▲43.3%

Operating result €390k, net result €285k, both a record.

31-12

Financial Equity above €1MEq €1.22M ▲30.7%

6 profitable years in a row build equity to €1.22M.

24-08

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 24 days late

2022

24-08

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 24 days late

2021

31-08

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema · 31 days late

2020

31-12

Financial Weakest financial yearnet €22k ▼87.7%

Net result drops to €22k, the lowest in the series.

21-08

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema · 21 days late

2019

31-12

Financial Equity above €500kEq €592k ▲42.8%

2 profitable years in a row build equity to €592k.

22-08

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema · 22 days late

2018

29-08

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema · 29 days late

2017

31-08

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema · 31 days late

2016

26-08

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema · 26 days late

2015

28-08

NBB filing Annual accounts filed

fiscal year 2014 · abbreviated schema · 28 days late

SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.

Location & real-estate footprint

Registered office, Diest · 1 establishment unit since 2008

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Leuvensesteenweg 1923290 Diest

Ground area

2,206 m²

Building footprint

846 m²

Parcel 24120E0211/00W002, Flanders. Linked by address, not a title deed.

1 establishment unit

SER-TECH Industrial

Leuvensesteenweg 192, 3290 DiestManufacture of fabricated metal products, except machinery and equipment

since 20082.174.440.585

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
24120E0211/00W002	Flanders	2,206 m²	1 · 846 m²	-

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Insolvency mandates

2 mandates

Role	Name	Tenure
Curator	WINNY TIRMARCHE STATIONSSTRAAT 108, 3400 LANDEN	05-08-2025 → present
Curator	KARL VANSTIPELEN STATIONSSTRAAT 108A, 3400 LANDEN-	05-08-2025 → present