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 €1.42M and a net result of €60k. Equity remains stable across the filed fiscal years (±2.3% per year). Its solvency ranks better than 69% of 5547 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 health 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.
Credit check for your own amount and term
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 €1.42M
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 →
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 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.42M▲ 4.4%
2024 · €1.36M
2019: €1.22Mlowest in 7 years
2020: €1.22M▲ +0.4% vs 2019
2021: €1.22M▲ +0.2% vs 2020
2022: €1.25M▲ +2.1% vs 2021
2023: €1.27M▲ +2.0% vs 2022
2024: €1.36M▲ +6.8% vs 2023
2025: €1.42M▲ +4.4% vs 2024highest in 7 years
2019 → 2025
Net result
€60k▼ 31.0%
2024 · €87k
2019: €-2klowest in 7 years
2020: €5k▲ +350% vs 2019
2021: €2k▼ -52.5% vs 2020
2022: €26k▲ +1120% vs 2021
2023: €25k▼ -5.3% vs 2022
2024: €87k▲ +249% vs 2023highest in 7 years
2025: €60k▼ -31.0% vs 2024
2019 → 2025
Total assets
€1.98M▲ 13.3%
2024 · €1.75M
2019: €1.56M
2020: €1.53M▼ -2.3% vs 2019
2021: €1.54M▲ +1.2% vs 2020
2022: €1.52M▼ -1.7% vs 2021lowest in 7 years
2023: €1.68M▲ +10.9% vs 2022
2024: €1.75M▲ +3.8% vs 2023
2025: €1.98M▲ +13.3% vs 2024highest in 7 years
2019 → 2025
Solvency
71.8%▼ 6.1pp
2024 · 77.9%
2019: 77.9%
2020: 80.0%▲ +2.7% vs 2019
2021: 79.2%▼ -1.0% vs 2020
2022: 82.4%▲ +3.9% vs 2021highest in 7 years
2023: 75.8%▼ -8.0% vs 2022
2024: 77.9%▲ +2.9% vs 2023
2025: 71.8%▼ -7.8% vs 2024lowest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.22M-€1.25M▲ 2.1%€1.27M▲ 2.0%€1.36M▲ 6.8%€1.42M▲ 4.4%
2021: €1.22Mlowest in 5 years
2022: €1.25M▲ +2.1% vs 2021
2023: €1.27M▲ +2.0% vs 2022
2024: €1.36M▲ +6.8% vs 2023
2025: €1.42M▲ +4.4% vs 2024highest in 5 years
Operating result€13k-€47k▲ 248%€45k▼ 3.8%€130k▲ 189%€98k▼ 24.0%
2021: €13klowest in 5 years
2022: €47k▲ +248% vs 2021
2023: €45k▼ -3.8% vs 2022
2024: €130k▲ +189% vs 2023highest in 5 years
2025: €98k▼ -24.0% vs 2024
Net result€2k-€26k▲ 1,120%€25k▼ 5.3%€87k▲ 249%€60k▼ 31.0%
2021: €2klowest in 5 years
2022: €26k▲ +1120% vs 2021
2023: €25k▼ -5.3% vs 2022
2024: €87k▲ +249% vs 2023highest in 5 years
2025: €60k▼ -31.0% vs 2024
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 €1.98M
Fixed assets
€1.73M ▲ 20.0%
Current assets
€248k ▼ 18.4%
Equity and liabilities €1.98M
Equity
€1.42M ▲ 4.4%
Debt
€557k ▲ 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
€397k▲
2024 · €368k
Debt > 1 year
€139k
Income taxes
€24k▼
2024 · €30k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.75M€1.98M▲
Fixed assets21/28€1.44M€1.73M▲
Tangible fixed assets22/27-€288k
Land and buildings22-€288k
Financial fixed assets28€1.44M€1.44M=
Current assets29/58€304k€248k▼
Amounts receivable within one year40/41€20k€99k▲
Trade receivables40€20k€90k▲
Other amounts receivable41-€9k
Current investments50/53€130k€30k▼
Cash at bank and in hand54/58€150k€117k▼
Deferred charges and accrued income490/1€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€1.75M€1.98M▲
Equity10/15€1.36M€1.42M▲
Contributions10/11€943k€943k=
Capital10€943k€943k=
Issued capital100€943k€943k=
Reserves13€418k€478k▲
Non-distributable reserves130/1€27k€30k▲
Legal reserve130€27k€30k▲
Tax-exempt reserves132€42k€42k=
Distributable reserves133€349k€406k▲
Amounts payable17/49€385k€557k▲
Amounts payable after more than one year17-€139k
Financial debts170/4-€139k
Amounts payable within one year42/48€368k€397k▲
Current portion of amounts payable after more than one year42-€26k
Trade debts44€2k€790▼
Suppliers440/4€2k€790▼
Taxes, remuneration and social security45€9k€11k▲
Taxes450/3€7k€10k▲
Remuneration and social security454/9€2k€2k▼
Other amounts payable47/48€357k€360k▲
Accrued charges and deferred income492/3€17k€21k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€48k
Other operating charges640/8€1k€2k▲
Gross operating margin9900€131k€149k▲
Operating profit (loss)9901€130k€98k▼
Financial income75/76B€2k€4k▲
Recurring financial income75€2k€4k▲
Financial charges65/66B€14k€19k▲
Recurring financial charges65€14k€19k▲
Profit (loss) for the period before taxes9903€117k€83k▼
Income taxes67/77€30k€24k▼
Profit (loss) for the period9904€87k€60k▼
Transfer to tax-exempt reserves689€42k-
Profit (loss) for the period to be appropriated9905€45k€60k▲
Appropriation of the result
Profit (loss) to be appropriated9906€45k€60k▲
Transfer to equity691/2€45k€60k▲
To the legal reserve6920€2k€3k▲
To other reserves6921€43k€57k▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €7k | €7k | - | €48k | - |
| Other operating charges640/8 | - | €1k | €1k | €1k | €2k | ▲ 16.9% |
| Gross operating margin9900 | €22k | €55k | €53k | €131k | €149k | ▲ 13.5% |
| Operating profit (loss)9901 | €13k | €47k | €45k | €130k | €98k | ▼ 24.0% |
| Financial income75/76B | - | - | - | €2k | €4k | ▲ 82.6% |
| Recurring financial income75 | - | - | - | €2k | €4k | ▲ 82.6% |
| Financial charges65/66B | - | €9k | €9k | €14k | €19k | ▲ 29.5% |
| Recurring financial charges65 | €9k | €9k | €9k | €14k | €19k | ▲ 29.5% |
| Profit (loss) for the period before taxes9903 | €4k | €38k | €36k | €117k | €83k | ▼ 28.7% |
| Income taxes67/77 | €2k | €11k | €11k | €30k | €24k | ▼ 22.3% |
| Profit (loss) for the period9904 | €2k | €26k | €25k | €87k | €60k | ▼ 31.0% |
| Transfer to tax-exempt reserves689 | - | - | - | €42k | - | - |
| Profit (loss) for the period to be appropriated9905 | €2k | €26k | €25k | €45k | €60k | ▲ 34.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.54M | €1.52M | €1.68M | €1.75M | €1.98M | ▲ 13.3% |
| Fixed assets21/28 | €1.46M | €1.45M | €1.44M | €1.44M | €1.73M | ▲ 20.0% |
| Tangible fixed assets22/27 | €14k | €7k | - | - | €288k | - |
| Land and buildings22 | - | - | - | - | €288k | - |
| Furniture and vehicles24 | - | €7k | - | - | - | - |
| Financial fixed assets28 | €1.44M | €1.44M | €1.44M | €1.44M | €1.44M | = |
| Current assets29/58 | €86k | €67k | €239k | €304k | €248k | ▼ 18.4% |
| Amounts receivable within one year40/41 | €10k | €35k | €10k | €20k | €99k | ▲ 387% |
| Trade receivables40 | - | €10k | €10k | €20k | €90k | ▲ 345% |
| Other amounts receivable41 | - | €25k | - | - | €9k | - |
| Current investments50/53 | - | - | €100k | €130k | €30k | ▼ 77.0% |
| Cash at bank and in hand54/58 | €75k | €31k | €125k | €150k | €117k | ▼ 22.0% |
| Deferred charges and accrued income490/1 | - | €928 | €4k | €3k | €2k | ▼ 31.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.54M | €1.52M | €1.68M | €1.75M | €1.98M | ▲ 13.3% |
| Equity10/15 | €1.22M | €1.25M | €1.27M | €1.36M | €1.42M | ▲ 4.4% |
| Contributions10/11 | €943k | €943k | €943k | €943k | €943k | = |
| Capital10 | - | €943k | €943k | €943k | €943k | = |
| Issued capital100 | - | €943k | €943k | €943k | €943k | = |
| Reserves13 | €280k | €307k | €331k | €418k | €478k | ▲ 14.3% |
| Non-distributable reserves130/1 | - | €24k | €25k | €27k | €30k | ▲ 11.0% |
| Legal reserve130 | - | €24k | €25k | €27k | €30k | ▲ 11.0% |
| Tax-exempt reserves132 | - | - | - | €42k | €42k | = |
| Distributable reserves133 | - | €283k | €306k | €349k | €406k | ▲ 16.3% |
| Profit (loss) carried forward14 | €-3k | - | - | - | - | - |
| Amounts payable17/49 | €320k | €268k | €408k | €385k | €557k | ▲ 44.7% |
| Amounts payable after more than one year17 | €13k | €6k | - | - | €139k | - |
| Financial debts170/4 | - | €6k | - | - | €139k | - |
| Amounts payable within one year42/48 | €296k | €250k | €396k | €368k | €397k | ▲ 7.8% |
| Current portion of amounts payable after more than one year42 | - | €7k | €6k | - | €26k | - |
| Trade debts44 | €284 | €1k | €4k | €2k | €790 | ▼ 56.9% |
| Suppliers440/4 | - | €1k | €4k | €2k | €790 | ▼ 56.9% |
| Taxes, remuneration and social security45 | - | €23k | €9k | €9k | €11k | ▲ 20.6% |
| Taxes450/3 | - | €21k | €8k | €7k | €10k | ▲ 32.1% |
| Remuneration and social security454/9 | - | €2k | €1k | €2k | €2k | ▼ 16.8% |
| Other amounts payable47/48 | - | €219k | €378k | €357k | €360k | ▲ 0.7% |
| Accrued charges and deferred income492/3 | - | €11k | €12k | €17k | €21k | ▲ 26.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2k | €26k | €25k | €87k | €60k | ▼ 31.0% |
| + Depreciation and write-downs630 | €7k | €7k | €7k | - | €48k | - |
| Operating cash flow (approximation) | €9k | €33k | €32k | €87k | €108k | ▲ 24.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €-336k | - |
| Change in cash | - | €-44k | €94k | €25k | €-33k | ▼ 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 €87k ▲249%
Operating result €130k, net result €87k, 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 €5k
Net result €5k 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 24,727 companies in sector 64210 we hold annual accounts for 19,768. 11,887 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.