SERBO
ActiveSummary
SERBO has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €648,415 and a net result of -€31,562. Equity is shrinking by ~3.5% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability41▼-2
Solvency49=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity short (current ratio 0.06 against 0.07 in 2023; short-term debt: 26.2% and cash: 1.6% of total assets), and 76.1% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
23.9%
Return on assets
-1.2%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€31,562
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-09-2025, 54 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 filingsDeviation from the deadline
2025
not confirmed
2024
54 d late
2023
61 d late
2022
44 d late
2021
153 d late
2020
91 d late
2019
70 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 79 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€648,415▼ 4.6%
2023 · €679,977
Total assets
€2.7m▼ 3.5%
2023 · €2.8m
Net result
-€31,562▼ 26.8%
2023 · -€24,900
Working capital
-€665,336▼ 0.6%
2023 · -€661,074
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€382,473▲ 5,884%-€56,331-€8,313▲ 85.2%€3,623-€3,437
Net result€257,934-€83,471-€38,558▲ 53.8%-€24,900▲ 35.4%-€31,562▼ 26.8%
Equity€826,906▲ 45.3%€743,435▼ 10.1%€704,877▼ 5.2%€679,977▼ 3.5%€648,415▼ 4.6%
Total assets€1.7m▲ 27.2%€3.3m▲ 99.5%€2.9m▼ 10.9%€2.8m▼ 4.5%€2.7m▼ 3.5%
Debt€641,058▲ 0.3%€2.4m▲ 272%€2.1m▼ 13.2%€2.0m▼ 4.9%€1.9m▼ 3.1%
Working capital€601,744▲ 319%-€651,698-€660,887▼ 1.4%-€661,074=-€665,336▼ 0.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €3,437 after €3,623 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.7m
Fixed assets
€2.7m ▼ 3.6%
Current assets
€45,661 ▼ 2.8%
Equity and liabilities €2.7m
Equity
€648,415 ▼ 4.6%
Provisions
€162,758 ▼ 3.9%
Debt
€1.9m ▼ 3.1%
Debt's share of the balance-sheet total rises from 69.8% to 70.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€99,440▼
2023 · €106,317
Cash flow
€71,315▼
2023 · €77,795
Current ratio
0.06▼
2023 · 0.07
Debt to equity
2.94▲
2023 · 2.89
ROE
-4.9%▼
2023 · -3.7%
ROA
-1.2%▼
2023 · -0.9%
Interest coverage
2.86▼
2023 · 3.02
Debt ≤ 1 year
€710,997▲
2023 · €708,061
Debt > 1 year
€1.2m▼
2023 · €1.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,501 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.4%
went bankrupt
1.7%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,058 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% | 1.6% |
| 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 74% 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 2,501 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €5,280 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41,056 | €95,669 | €102,119 | €102,695 | €102,877 | ▲ 0.2% |
| Other operating charges640/8 | - | €8,882 | €17,059 | €15,071 | €15,624 | ▲ 3.7% |
| Non-recurring operating charges66A | - | - | - | €99 | €170 | ▲ 72.0% |
| Gross operating margin9900 | €429,129 | €48,220 | €110,866 | €121,487 | €115,234 | ▼ 5.1% |
| Operating profit (loss)9901 | €382,473 | -€56,331 | -€8,313 | €3,623 | -€3,437 | ▼ 195% |
| Financial income75/76B | - | €164 | - | - | €11 | - |
| Recurring financial income75 | €314 | €164 | - | - | €11 | - |
| Financial charges65/66B | - | €34,888 | €35,532 | €35,147 | €34,760 | ▼ 1.1% |
| Recurring financial charges65 | €30,000 | €34,848 | €35,532 | €35,147 | €34,760 | ▼ 1.1% |
| Non-recurring financial charges66B | - | €40 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €352,497 | -€91,055 | -€43,845 | -€31,525 | -€38,186 | ▼ 21.1% |
| Transfer from deferred taxes780 | - | €7,584 | €6,625 | €6,625 | €6,625 | = |
| Income taxes67/77 | -€14 | - | €1,338 | - | - | - |
| Profit (loss) for the period9904 | €257,934 | -€83,471 | -€38,558 | -€24,900 | -€31,562 | ▼ 26.8% |
| Transfer from tax-exempt reserves789 | - | €20,949 | €16,128 | €16,128 | €16,128 | = |
| Profit (loss) for the period to be appropriated9905 | -€27,627 | -€62,521 | -€22,430 | -€8,772 | -€15,434 | ▼ 75.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €3.3m | €2.9m | €2.8m | €2.7m | ▼ 3.5% |
| Fixed assets21/28 | €915,379 | €3.0m | €2.9m | €2.8m | €2.7m | ▼ 3.6% |
| Tangible fixed assets22/27 | €915,379 | €3.0m | €2.9m | €2.8m | €2.7m | ▼ 3.6% |
| Land and buildings22 | - | €3.0m | €2.9m | €2.8m | €2.7m | ▼ 3.5% |
| Plant, machinery and equipment23 | - | €308 | €205 | €103 | - | - |
| Furniture and vehicles24 | - | €1,731 | €1,318 | €904 | €491 | ▼ 45.7% |
| Current assets29/58 | €742,802 | €342,851 | €82,859 | €46,987 | €45,661 | ▼ 2.8% |
| Amounts receivable within one year40/41 | €150,000 | - | - | - | €3,000 | - |
| Other amounts receivable41 | - | - | - | - | €3,000 | - |
| Current investments50/53 | €164,357 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €428,445 | €342,851 | €82,859 | €46,987 | €42,661 | ▼ 9.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €3.3m | €2.9m | €2.8m | €2.7m | ▼ 3.5% |
| Equity10/15 | €826,906 | €743,435 | €704,877 | €679,977 | €648,415 | ▼ 4.6% |
| Contributions10/11 | €520,576 | €520,576 | €520,576 | €520,576 | €520,576 | = |
| Capital10 | - | €520,576 | €520,576 | €520,576 | €520,576 | = |
| Issued capital100 | - | €520,576 | €520,576 | €520,576 | €520,576 | = |
| Reserves13 | €494,075 | €473,125 | €456,998 | €440,870 | €424,742 | ▼ 3.7% |
| Tax-exempt reserves132 | - | €473,125 | €456,998 | €440,870 | €424,742 | ▼ 3.7% |
| Profit (loss) carried forward14 | -€187,745 | -€250,267 | -€272,697 | -€281,469 | -€296,903 | ▼ 5.5% |
| Provisions and deferred taxes16 | €190,217 | €182,633 | €176,008 | €169,383 | €162,758 | ▼ 3.9% |
| Deferred taxes168 | - | €182,633 | €176,008 | €169,383 | €162,758 | ▼ 3.9% |
| Amounts payable17/49 | €641,058 | €2.4m | €2.1m | €2.0m | €1.9m | ▼ 3.1% |
| Amounts payable after more than one year17 | €500,000 | €1.4m | €1.3m | €1.3m | €1.2m | ▼ 5.2% |
| Financial debts170/4 | - | €1.4m | €1.3m | €1.3m | €1.2m | ▼ 5.2% |
| Amounts payable within one year42/48 | €141,058 | €994,549 | €743,746 | €708,061 | €710,997 | ▲ 0.4% |
| Current portion of amounts payable after more than one year42 | - | €64,233 | €64,613 | €64,995 | €65,380 | ▲ 0.6% |
| Trade debts44 | €868 | €80 | €3,300 | €1,117 | €68 | ▼ 94.0% |
| Suppliers440/4 | - | €80 | €3,300 | €1,117 | €68 | ▼ 94.0% |
| Taxes, remuneration and social security45 | - | - | - | €262 | €262 | = |
| Taxes450/3 | - | - | - | €262 | €262 | = |
| Other amounts payable47/48 | - | €930,236 | €675,833 | €641,687 | €645,289 | ▲ 0.6% |
| Accrued charges and deferred income492/3 | - | - | - | - | €795 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €257,934 | -€83,471 | -€38,558 | -€24,900 | -€31,562 | ▼ 26.8% |
| + Depreciation and write-downs630 | €41,056 | €95,669 | €102,119 | €102,695 | €102,877 | ▲ 0.2% |
| Operating cash flow (approximation) | €298,990 | €12,198 | €63,561 | €77,795 | €71,315 | ▼ 8.3% |
| Investment in fixed assets (approximation) | - | -€2.1m | -€1,513 | -€6,362 | -€4,368 | ▲ 31.3% |
| Change in cash | - | -€85,594 | -€259,991 | -€35,872 | -€4,326 | ▲ 87.9% |
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
2025
23-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 54 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
13-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 44 days late
2022
31-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 153 days late
2021
31-12
Financial
Weakest financial yearnet -€83,471
Net result drops to -€83,471, the lowest in the series; recovery starts the following year.
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 91 days late
2020
31-12
Financial
Back to profitnet €257,934
Net result €257,934 after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 5.27
Current ratio from 2.04 to 5.27.
09-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 70 days late
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Heist-op-den-Berg · 1 establishment unit since 1994
Ground area
263 m²
Building footprint
91 m²
Volume, LiDAR
476 m³
Parcel 12006E0084/00W000, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SERBO
since 19942.068.732.262
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12006E0084/00W000 | Flanders | 263 m² | 1 · 91 m² | 9.0 m · 2 fl. |
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.
Identification & contact
Identification
Legal formPublic limited company
Founded18-10-1993
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
General meetings
1 convocationGeneral meeting
Agenda
1. Toepassing art. 523 van de Vennootschappenwet. 2. Verslag van de raad van bestuur. 3. Goedkeuring van de jaarrekening met toewijzing van het resultaat. 4. Kwijting aan de bestuurders. 5. Ontslagen en benoemingen van bestuurders. 6. Allerlei. (AOPC-1-9-00656/26.05)