Summary
SERCAM is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.4m and a net result of €59,959. Equity remains stable across the filed fiscal years (±2.3% per year). Its solvency ranks better than 69% of 5558 sector peers (fiscal year 2025). The company has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €1.4m
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 29-09-2025, 32 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
32 d early
2024
17 d early
2023
37 d late
2022
3 d early
2021
40 d early
2020
38 d early
2019
35 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 18 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close26-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#5 oldest company in Hulshout, Finance and insurance sector#7 company by equity in Hulshout, Finance and insurance sector#10 company by total assets in Hulshout, Finance and insurance sector
Equity
€1.4m▲ 4.4%
2024 · €1.4m
Net result
€59,959▼ 31.0%
2024 · €86,855
Total assets
€2.0m▲ 13.3%
2024 · €1.7m
Solvency
71.8%▼ 6.1pp
2024 · 77.9%
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
Line20212022202320242025
Operating result€13,392▼ 24.0%€46,567▲ 248%€44,804▼ 3.8%€129,513▲ 189%€98,446▼ 24.0%
Net result€2,153▼ 52.5%€26,263▲ 1,120%€24,883▼ 5.3%€86,855▲ 249%€59,959▼ 31.0%
Equity€1.2m▲ 0.2%€1.2m▲ 2.1%€1.3m▲ 2.0%€1.4m▲ 6.8%€1.4m▲ 4.4%
Total assets€1.5m▲ 1.2%€1.5m▼ 1.7%€1.7m▲ 10.9%€1.7m▲ 3.8%€2.0m▲ 13.3%
Debt€320,364▲ 5.2%€267,730▼ 16.4%€407,812▲ 52.3%€385,251▼ 5.5%€557,449▲ 44.7%
Working capital-€209,266▲ 0.4%-€183,008▲ 12.5%-€156,990▲ 14.2%-€64,800▲ 58.7%-€149,544▼ 131%
Solvency79.2%▼ 0.8pp82.4%▲ 3.1pp75.8%▼ 6.6pp77.9%▲ 2.2pp71.8%▼ 6.1pp
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 24% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.0m
Fixed assets
€1.7m ▲ 20.0%
Current assets
€247,752 ▼ 18.4%
Equity and liabilities €2.0m
Equity
€1.4m ▲ 4.4%
Debt
€557,449 ▲ 44.7%
Debt's share of the balance-sheet total rises from 22.1% to 28.2%. Equity and debt are higher.
Key figures and ratios
ROE
4.2%▼
2024 · 6.4%
ROA
3.0%▼
2024 · 5.0%
Debt ≤ 1 year
€397,296▲
2024 · €368,383
Debt > 1 year
€138,826
Income taxes
€23,501▼
2024 · €30,237
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,128 | €7,128 | €7,128 | - | €48,439 | - |
| Other operating charges640/8 | - | €1,300 | €1,378 | €1,459 | €1,705 | ▲ 16.9% |
| Gross operating margin9900 | €21,888 | €54,995 | €53,309 | €130,972 | €148,590 | ▲ 13.5% |
| Operating profit (loss)9901 | €13,392 | €46,567 | €44,804 | €129,513 | €98,446 | ▼ 24.0% |
| Financial income75/76B | - | - | - | €2,076 | €3,790 | ▲ 82.6% |
| Recurring financial income75 | - | - | - | €2,076 | €3,790 | ▲ 82.6% |
| Financial charges65/66B | - | €9,065 | €9,066 | €14,496 | €18,776 | ▲ 29.5% |
| Recurring financial charges65 | €9,039 | €9,065 | €9,066 | €14,496 | €18,776 | ▲ 29.5% |
| Profit (loss) for the period before taxes9903 | €4,353 | €37,503 | €35,738 | €117,093 | €83,460 | ▼ 28.7% |
| Income taxes67/77 | €2,200 | €11,239 | €10,854 | €30,237 | €23,501 | ▼ 22.3% |
| Profit (loss) for the period9904 | €2,153 | €26,263 | €24,883 | €86,855 | €59,959 | ▼ 31.0% |
| Transfer to tax-exempt reserves689 | - | - | - | €42,100 | - | - |
| Profit (loss) for the period to be appropriated9905 | €2,153 | €26,263 | €24,883 | €44,755 | €59,959 | ▲ 34.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.5m | €1.5m | €1.7m | €1.7m | €2.0m | ▲ 13.3% |
| Fixed assets21/28 | €1.5m | €1.5m | €1.4m | €1.4m | €1.7m | ▲ 20.0% |
| Tangible fixed assets22/27 | €14,255 | €7,128 | - | - | €287,989 | - |
| Land and buildings22 | - | - | - | - | €287,989 | - |
| Furniture and vehicles24 | - | €7,128 | - | - | - | - |
| Financial fixed assets28 | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Current assets29/58 | €86,439 | €67,196 | €239,289 | €303,583 | €247,752 | ▼ 18.4% |
| Amounts receivable within one year40/41 | €10,285 | €35,317 | €10,285 | €20,285 | €98,852 | ▲ 387% |
| Trade receivables40 | - | €10,450 | €10,285 | €20,285 | €90,216 | ▲ 345% |
| Other amounts receivable41 | - | €24,867 | - | - | €8,636 | - |
| Current investments50/53 | - | - | €100,000 | €130,451 | €30,001 | ▼ 77.0% |
| Cash at bank and in hand54/58 | €75,240 | €30,951 | €125,032 | €150,056 | €116,985 | ▼ 22.0% |
| Deferred charges and accrued income490/1 | - | €928 | €3,972 | €2,790 | €1,914 | ▼ 31.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.5m | €1.5m | €1.7m | €1.7m | €2.0m | ▲ 13.3% |
| Equity10/15 | €1.2m | €1.2m | €1.3m | €1.4m | €1.4m | ▲ 4.4% |
| Contributions10/11 | €943,100 | €943,100 | €943,100 | €943,100 | €943,100 | = |
| Capital10 | - | €943,100 | €943,100 | €943,100 | €943,100 | = |
| Issued capital100 | - | €943,100 | €943,100 | €943,100 | €943,100 | = |
| Reserves13 | €280,293 | €306,556 | €331,439 | €418,295 | €478,254 | ▲ 14.3% |
| Non-distributable reserves130/1 | - | €23,704 | €24,948 | €27,186 | €30,183 | ▲ 11.0% |
| Legal reserve130 | - | €23,704 | €24,948 | €27,186 | €30,183 | ▲ 11.0% |
| Tax-exempt reserves132 | - | - | - | €42,100 | €42,100 | = |
| Distributable reserves133 | - | €282,852 | €306,491 | €349,009 | €405,971 | ▲ 16.3% |
| Profit (loss) carried forward14 | -€3,203 | - | - | - | - | - |
| Amounts payable17/49 | €320,364 | €267,730 | €407,812 | €385,251 | €557,449 | ▲ 44.7% |
| Amounts payable after more than one year17 | €13,424 | €6,128 | - | - | €138,826 | - |
| Financial debts170/4 | - | €6,128 | - | - | €138,826 | - |
| Amounts payable within one year42/48 | €295,706 | €250,204 | €396,279 | €368,383 | €397,296 | ▲ 7.8% |
| Current portion of amounts payable after more than one year42 | - | €7,296 | €6,128 | - | €25,623 | - |
| Trade debts44 | €284 | €1,105 | €3,542 | €1,832 | €790 | ▼ 56.9% |
| Suppliers440/4 | - | €1,105 | €3,542 | €1,832 | €790 | ▼ 56.9% |
| Taxes, remuneration and social security45 | - | €22,506 | €8,825 | €9,436 | €11,378 | ▲ 20.6% |
| Taxes450/3 | - | €20,969 | €7,585 | €7,217 | €9,530 | ▲ 32.1% |
| Remuneration and social security454/9 | - | €1,537 | €1,239 | €2,219 | €1,847 | ▼ 16.8% |
| Other amounts payable47/48 | - | €219,298 | €377,784 | €357,115 | €359,505 | ▲ 0.7% |
| Accrued charges and deferred income492/3 | - | €11,398 | €11,533 | €16,868 | €21,327 | ▲ 26.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,153 | €26,263 | €24,883 | €86,855 | €59,959 | ▼ 31.0% |
| + Depreciation and write-downs630 | €7,128 | €7,128 | €7,128 | - | €48,439 | - |
| Operating cash flow (approximation) | €9,281 | €33,391 | €32,011 | €86,855 | €108,399 | ▲ 24.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€336,428 | - |
| Change in cash | - | -€44,290 | €94,081 | €25,025 | -€33,072 | ▼ 232% |
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
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
14-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Highest result since 2019net €86,855 ▲249%
Operating result €129,513, net result €86,855, both a record.
2023
07-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 37 days late
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
21-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
23-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
31-03
Financial
Back to profitnet €4,532
Net result €4,532 after one loss-making year.
2019
26-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
06-09
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 8 acts read
About the unread acts
We know of 8 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
8 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, Hulshout · 1 establishment unit since 2001
Ground area
886 m²
Building footprint
355 m²
Volume, LiDAR
2,023 m³
Parcel 13016D0086/00P000, Flanders · tallest building 10.0 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Grote Baan 146, 2235 Hulshout
since 20012.097.773.666
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13016D0086/00P000 | Flanders | 886 m² | 1 · 355 m² | 10.0 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.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,771. 11,888 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
Founded16-11-2000
Fiscal year end31-03
Activities, NACEBEL 2025
64210Activities of holding companies
Scores and ratios are computed by Checked and are not a credit decision.