SERAB
ActiveSummary
SERAB has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €12.0m and a net result of €856,360. Equity is growing by ~3.6% per year across the filed fiscal years. Its solvency ranks better than 74% of 9336 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-3
Solvency87▼-10
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000,000 at 30 days acceptable
Liquidity ample (current ratio 1.9 against 2.39 in 2024; short-term debt: 22.7% and cash: 35.7% of total assets), and 38% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
62%
Return on assets
4.4%
Age of the figures
15 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2023
1 d early
2022
28 d early
2021
17 d early
2020
6 d early
2019
25 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 11 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#6 company by equity in Zaventem, Real estate sector
Equity
€12.0m▲ 2.5%
2024 · €11.7m
Total assets
€19.3m▲ 19.5%
2024 · €16.2m
Net result
€856,360▲ 143%
2024 · €353,114
Working capital
€3.9m▼ 23.1%
2024 · €5.1m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€543,379▼ 75.7%€1.6m▲ 199%€457,142▼ 71.8%€326,068▼ 28.7%€71,435▼ 78.1%
Net result€285,058above the sector's middle half▼ 81.1%€1.1mabove the sector's middle half▲ 287%€299,899above the sector's middle half▼ 72.8%€353,114above the sector's middle half▲ 17.7%€856,360above the sector's middle half▲ 143%
Equity€10.5mabove the sector's middle half▼ 1.1%€11.6mabove the sector's middle half▲ 10.3%€11.0mabove the sector's middle half▼ 5.3%€11.7mabove the sector's middle half▲ 6.5%€12.0mabove the sector's middle half▲ 2.5%
Total assets€14.7mabove the sector's middle half▼ 8.1%€14.7mabove the sector's middle half▼ 0.1%€14.9mabove the sector's middle half▲ 1.2%€16.2mabove the sector's middle half▲ 8.8%€19.3mabove the sector's middle half▲ 19.5%
Debt€3.7m▼ 22.2%€2.3m▼ 38.4%€3.1m▲ 35.7%€3.7m▲ 21.7%€6.7m▲ 78.4%
Working capital€2.7mabove the sector's middle half▼ 6.8%€4.3mabove the sector's middle half▲ 59.2%€3.8mabove the sector's middle half▼ 10.1%€5.1mabove the sector's middle half▲ 33.7%€3.9mabove the sector's middle half▼ 23.1%
Solvency71.3%above the sector's middle half▲ 5.1pp78.8%above the sector's middle half▲ 7.5pp73.8%above the sector's middle half▼ 5.0pp72.3%above the sector's middle half▼ 1.5pp62.0%within the sector's middle half▼ 10.3pp
Current ratio1.77within the sector's middle half▲ 0.122.94above the sector's middle half▲ 1.172.27within the sector's middle half▼ 0.672.39within the sector's middle half▲ 0.121.90within the sector's middle half▼ 0.49
Return on assets (ROA)1.9%within the sector's middle half▼ 7.5pp7.5%above the sector's middle half▲ 5.6pp2.0%within the sector's middle half▼ 5.5pp2.2%within the sector's middle half▲ 0.2pp4.4%within the sector's middle half▲ 2.2pp
Staff (FTE)0within the sector's middle half0within the sector's middle half0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2023 Net result -73% on 2022. This fiscal year ran 10 months, the previous one 12.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 78% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €19.3m
Fixed assets
€11.0m ▲ 49.4%
Current assets
€8.3m ▼ 5.6%
Equity and liabilities €19.3m
Equity
€12.0m ▲ 2.5%
Provisions
€667,424 ▼ 10.0%
Debt
€6.7m ▲ 78.4%
Debt's share of the balance-sheet total rises from 23.2% to 34.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€526,923▼
2024 · €603,185
Cash flow
€1.3m▲
2024 · €630,231
Debt to equity
0.56▲
2024 · 0.32
ROE
7.2%▲
2024 · 3.0%
Interest coverage
5.19▼
2024 · 7.79
Debt ≤ 1 year
€4.4m▲
2024 · €3.7m
Debt > 1 year
€2.2m
Income taxes
€138,464▼
2024 · €167,155
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,860 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 98% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.1%
went bankrupt
2.0%
stopped otherwise
98%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,860 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €1.3m | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €239,467 | €255,506 | €238,743 | €277,117 | €455,489 | ▲ 64.4% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €0 | -€24,000 | -€73,664 | -€59,062 | ▲ 19.8% |
| Other operating charges640/8 | - | €29,891 | €21,517 | €28,509 | €37,344 | ▲ 31.0% |
| Gross operating margin9900 | €779,615 | €1.9m | €693,402 | €558,031 | €505,204 | ▼ 9.5% |
| Operating profit (loss)9901 | €543,379 | €1.6m | €457,142 | €326,068 | €71,435 | ▼ 78.1% |
| Financial income75/76B | - | €480 | €25,379 | €265,216 | €1.0m | ▲ 281% |
| Recurring financial income75 | €1,179 | €480 | €25,379 | €265,216 | €1.0m | ▲ 281% |
| Financial charges65/66B | - | €115,967 | €51,167 | €77,432 | €103,745 | ▲ 34.0% |
| Recurring financial charges65 | €67,539 | €56,552 | €51,167 | €77,432 | €101,497 | ▲ 31.1% |
| Non-recurring financial charges66B | - | €59,415 | €0 | - | €2,247 | - |
| Profit (loss) for the period before taxes9903 | €425,710 | €1.5m | €431,353 | €513,852 | €979,370 | ▲ 90.6% |
| Transfer from deferred taxes780 | - | €5,153 | €4,764 | €6,417 | €15,454 | ▲ 141% |
| Transfer to deferred taxes680 | - | €315,000 | €0 | - | - | - |
| Income taxes67/77 | €142,959 | €92,565 | €136,218 | €167,155 | €138,464 | ▼ 17.2% |
| Profit (loss) for the period9904 | €285,058 | €1.1m | €299,899 | €353,114 | €856,360 | ▲ 143% |
| Transfer from tax-exempt reserves789 | - | €14,684 | €13,100 | €17,837 | €44,946 | ▲ 152% |
| Transfer to tax-exempt reserves689 | - | €945,000 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €290,564 | €173,882 | €312,999 | €370,951 | €901,307 | ▲ 143% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €14.7m | €14.7m | €14.9m | €16.2m | €19.3m | ▲ 19.5% |
| Fixed assets21/28 | €8.5m | €8.2m | €8.0m | €7.4m | €11.0m | ▲ 49.4% |
| Tangible fixed assets22/27 | €6.4m | €6.1m | €5.8m | €6.3m | €9.9m | ▲ 58.6% |
| Land and buildings22 | - | €5.4m | €5.2m | €5.6m | €9.3m | ▲ 65.4% |
| Furniture and vehicles24 | - | €26,883 | €29,789 | €20,614 | €14,723 | ▼ 28.6% |
| Leasing and similar rights25 | - | €24,000 | €0 | - | - | - |
| Other tangible fixed assets26 | - | €628,327 | €617,190 | €599,442 | €585,019 | ▼ 2.4% |
| Financial fixed assets28 | €2.2m | €2.2m | €2.2m | €1.1m | €1.1m | ▼ 2.5% |
| Current assets29/58 | €6.2m | €6.5m | €6.9m | €8.8m | €8.3m | ▼ 5.6% |
| Stocks and contracts in progress3 | - | - | - | €13,791 | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | €13,791 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €2.1m | €2.0m | €24,597 | €1.3m | €1.4m | ▲ 11.9% |
| Trade receivables40 | - | €51,915 | €21,823 | €142,256 | €307,506 | ▲ 116% |
| Other amounts receivable41 | - | €2.0m | €2,773 | €1.1m | €1.1m | ▼ 1.4% |
| Current investments50/53 | - | - | - | €31,741 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €4.1m | €4.4m | €6.8m | €7.5m | €6.9m | ▼ 8.0% |
| Deferred charges and accrued income490/1 | - | €34,731 | €15,269 | €12,419 | €21,455 | ▲ 72.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €14.7m | €14.7m | €14.9m | €16.2m | €19.3m | ▲ 19.5% |
| Equity10/15 | €10.5m | €11.6m | €11.0m | €11.7m | €12.0m | ▲ 2.5% |
| Contributions10/11 | €1.5m | €1.5m | €637,000 | €1.1m | €1.1m | = |
| Capital10 | - | €1.5m | €637,000 | €1.1m | €1.1m | = |
| Issued capital100 | - | €1.5m | €637,000 | €1.1m | €1.1m | = |
| Revaluation surpluses12 | - | €216,279 | €216,279 | €231,979 | €231,979 | = |
| Reserves13 | €8.7m | €9.8m | €10.1m | €10.4m | €10.6m | ▲ 2.8% |
| Non-distributable reserves130/1 | - | €153,700 | €63,700 | €109,581 | €109,581 | = |
| Legal reserve130 | - | €153,700 | €63,700 | €109,581 | €109,581 | = |
| Tax-exempt reserves132 | - | €2.0m | €2.0m | €2.0m | €2.0m | ▼ 2.2% |
| Distributable reserves133 | - | €7.6m | €8.0m | €8.2m | €8.6m | ▲ 4.0% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €540,938 | €850,785 | €822,021 | €741,940 | €667,424 | ▼ 10.0% |
| Provisions for liabilities and charges160/5 | - | €156,727 | €132,727 | €59,062 | €0 | ▼ 100% |
| Major repairs and maintenance162 | - | €156,727 | €132,727 | €59,062 | €0 | ▼ 100% |
| Deferred taxes168 | - | €694,058 | €689,295 | €682,878 | €667,424 | ▼ 2.3% |
| Amounts payable17/49 | €3.7m | €2.3m | €3.1m | €3.7m | €6.7m | ▲ 78.4% |
| Amounts payable after more than one year17 | €123,102 | €9,609 | €0 | - | €2.2m | - |
| Financial debts170/4 | - | €9,609 | €0 | - | €2.2m | - |
| Amounts payable within one year42/48 | €3.5m | €2.2m | €3.0m | €3.7m | €4.4m | ▲ 18.9% |
| Current portion of amounts payable after more than one year42 | - | €113,493 | €28,758 | €0 | €192,776 | - |
| Trade debts44 | €58,317 | €62,638 | €54,635 | €30,692 | €76,601 | ▲ 150% |
| Suppliers440/4 | - | €62,638 | €54,635 | €30,692 | €76,601 | ▲ 150% |
| Taxes, remuneration and social security45 | - | €17,564 | €31,026 | €57,500 | €13,526 | ▼ 76.5% |
| Taxes450/3 | - | €17,564 | €28,348 | €57,500 | €11,414 | ▼ 80.1% |
| Remuneration and social security454/9 | - | - | €2,678 | €0 | €2,112 | - |
| Other amounts payable47/48 | - | €2.0m | €2.9m | €3.6m | €4.1m | ▲ 13.9% |
| Accrued charges and deferred income492/3 | - | €54,991 | €54,716 | €59,167 | €89,133 | ▲ 50.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €285,058 | €1.1m | €299,899 | €353,114 | €856,360 | ▲ 143% |
| + Depreciation and write-downs630 | €239,467 | €255,506 | €238,743 | €277,117 | €455,489 | ▲ 64.4% |
| Operating cash flow (approximation) | €524,525 | €1.4m | €538,642 | €630,231 | €1.3m | ▲ 108% |
| Investment in fixed assets (approximation) | - | €61,146 | -€19,092 | €375,555 | -€4.1m | ▼ 1,190% |
| Change in cash | - | €300,615 | €2.4m | €683,716 | -€603,211 | ▼ 188% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
03-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
14-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-08
Financial
Weakest financial yearnet €285,058 ▼81.1%
Net result drops to €285,058, the lowest in the series; recovery starts the following year.
25-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-08
Financial
Liquidity doublescurrent ratio 1.65
Current ratio from 0.76 to 1.65; short-term debt falls from €4.5m to €4.4m.
31-08
Financial
Equity above €10mEq €10.6m ▲15.9%
2 profitable years in a row build equity to €10.6m.
06-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
01-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
01-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
11 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, Zaventem · 1 establishment unit since 2003
Ground area
2.1 ha
Parcel 23094D0098/00M000, Flanders. Linked by address, not a title deed.
1 establishment unit
SERAB
since 20032.134.721.659
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23094D0098/00M000 | Flanders | 2.1 ha | - | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 30-06-2025 list no shareholders, and no other source names one.
Holdings 1
-
41.26%
According to the annual accounts to 30-06-2025 of SERAB and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 9,699 companies in sector 68121 we hold annual accounts for 7,393. 1,073 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded05-11-2003
Fiscal year end30-06
Activities, NACEBEL 2025
68121Development of residential building projects
70200Business and other management consultancy
68122Development of non-residential building projects
68321Property management for co-owned buildings (syndics)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0861515002
Also
9925:BE0861515002
Registered
01-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.