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SERCK

Active
Public limited company·Algemene bouw van residentiële gebouwen· 89 yrs active
Driesstraat 79 ·9090 Merelbeke-Melle, Belgium
KBO/BCE: BE 0405.705.864
Watch Print / PDF
Age89 yrs
Board4
Staff (FTE)10.2
Real estate1 parcel · 1,074 m²

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of SERCK is 0.3% (very low). The 2024 annual accounts show equity of €541k and a net result of €1.64M. Equity is shrinking by ~12.4% per year across the filed fiscal years. Its solvency ranks better than 34% of 333 sector peers (fiscal year 2024). The company has been active since 1936 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 7 annual accounts.

Signals

1 signal · with evidence
Consistently profitable
Positive net result in the two most recent financial years (2023 and 2024).
View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide
Deadline passed, not yet counted as missing
The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 13 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.
A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-08-2025, 18 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.
Deadline per financial year
Year closed Due by Filed Variance Reference
31-12-2025 31-07-2026 nothing on record not filed -
31-12-2024 31-07-2025 18-08-2025 18 d late 2025-00384206
31-12-2023 31-07-2024 31-07-2024 on the day 2024-00316387
31-12-2022 31-07-2023 31-07-2023 on the day 2023-00298164
31-12-2021 31-07-2022 13-07-2022 18 d early 2022-20205948
31-12-2020 31-07-2021 31-08-2021 31 d late 2021-61200417
31-12-2019 31-07-2020 27-08-2020 27 d late 2020-45600058
31-12-2018 31-07-2019 31-07-2019 on the day 2019-43300570
31-12-2017 31-07-2018 01-06-2018 60 d early 2018-15400005
31-12-2016 31-07-2017 19-05-2017 73 d early 2017-12800573
31-12-2015 31-07-2016 02-06-2016 59 d early 2016-15200305

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals
Long-established
Founded in 1936, 89 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone
0.3% Very low
0%0,5%1,5%4%10%≥25%
Long track record −Higher-failure-rate sector +Lower-risk legal form −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€1.64M-4.4%
Working capital€559k-62.7%

Annual accounts & ratios

Source: NBB · 2024
Annual accounts filed on 18-08-2025 with the NBB · fiscal year 2024 · verkort
€0€1.00M€2.00MOperating result 2020: €61k€61kNet result 2020: €610k€610kOperating result 2021: €7k€7kNet result 2021: €30k€30kOperating result 2022: €418k€418kNet result 2022: €295k€295kOperating result 2023: €2.33M€2.33MNet result 2023: €1.71M€1.71MOperating result 2024: €2.24M€2.24MNet result 2024: €1.64M€1.64M20202021202220232024
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining Equity: declining trend of ~12.4%/year over 7 fiscal years, indicative, assuming unchanged policy.
€0€500k€1.00M2025: €500k (€261k - €738k)2026: €438k (€55k - €820k)2027: €383k (€0 - €909k)2018: €1.05M2019: €1.11M2020: €1.15M2021: €1.18M2022: €876k2023: €541k2024: €541k2018201920202021202220232024202520262027
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison
Fiscal year 2024 · NACE 41, Construction of buildings · compared within the same schema type (abbreviated schema)
Metric This company Sector median Position in the sector
Solvency 12.7% 24.2%
better than 34% of 333 sector peers
Net result €1.64M €16k
better than 95% of 333 sector peers
Equity €541k €73k
better than 86% of 333 sector peers
Gross operating margin €2.83M €81k
better than 95% of 333 sector peers
Staff costs €751k €140k
higher than 90% of 155 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
Solvency P34
2020: P44 · n=1342021: P36 · n=1722022: P42 · n=2622023: P32 · n=2972024: P34 · n=3332020 2024
Stable position over 2020-2024 · n=134-333
Net result P95
2020: P69 · n=1352021: P60 · n=1722022: P95 · n=2612023: P95 · n=2972024: P95 · n=3332020 2024
Improving position over 2020-2024 · n=135-333
Equity P86
2020: P90 · n=1352021: P91 · n=1722022: P92 · n=2622023: P85 · n=2972024: P86 · n=3332020 2024
Stable position over 2020-2024 · n=135-333
Gross operating margin P95
2020: P88 · n=1352021: P89 · n=1722022: P95 · n=2602023: P95 · n=2972024: P95 · n=3332020 2024
Stable position over 2020-2024 · n=135-333
Describes the position versus peers, not a forecast.
EBITDA
€2.34M
-1.5% 18-24
Net profit
€1.64M
-4.4% 18-24
Cash flow
€1.74M
-1.4% 18-24
Total assets
€4.27M
-22.4% 18-24
Equity
€541k
0.0% 18-24
Working capital
€559k
-62.7% 18-24
Employees (FTE)
10
-30.1% 18-24
Staff costs
€751k
-28.9% 18-24
Income taxes
€614k
-1.1% 18-24
Dividends
€1.64M
-20.0% 18-24
Debt
€2.81M
-23.9% 18-24
Debt ≤ 1y
€2.81M
-23.9% 18-24
Debt > 1y
€0
-100.0% 18-24
Current ratio
1.20
-14.7% 18-24
Quick ratio
1.07
-9.9% 18-24
Solvency
12.7%
+28.9% 18-24
Debt / equity
5.19
-23.9% 18-24
ROE
302.8%
-4.4% 18-24
ROA
38.4%
+23.3% 18-24
Interest coverage
636.58
+346.9% 18-24
Figures by fiscal year
Fiscal year2024
Depositverkort
Revenue-
EBITDA€2.34M
Net profit€1.64M
Cash flow€1.74M
Staff costs€751k
Income taxes€614k
Dividends€1.64M
Total assets€4.27M
Equity€541k
Debt€2.81M
of which ≤ 1y€2.81M
of which > 1y-
Working capital€559k
Employees (FTE)10.2
Ratios (computed)
2024
Current ratio1.20
Quick ratio1.07
Working capital ratio13.1%
Solvency12.7%
Debt / equity5.19
Long-term debt ratio-
Interest coverage636.58
Gross margin-
Net margin-
ROA38.4%
ROE302.8%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2024
Balance sheet, Assets
TOTAL ASSETS 20/58€4.27M
Fixed assets 21/28€902k
Tangible fixed assets 22/27€662k
Financial fixed assets 28€240k
Current assets 29/58€3.37M
Stocks & contracts in progress 3€368k
Amounts receivable within one year 40/41€878k
Investments 50/53€96k
Cash & bank 54/58€2.02M
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€4.27M
Equity 10/15€541k
Contributions / capital 10/11€446k
Reserves 13€94k
Accumulated profits (losses) 14€338
Provisions & deferred taxes 16€920k
Amounts payable 17/49€2.81M
Amounts payable within one year 42/48€2.81M
Trade debts payable within one year 44€440k
Income statement
Gross operating margin 9900€2.83M
Operating result 9901€2.24M
Financial income 75€15k
Financial charges 65€4k
Result before taxes 9903€2.25M
Income taxes 67/77€614k
Net result for the period 9904€1.64M
Result to be appropriated 9905€1.64M
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.

Health barometer

FY 2024 · computed
65 / 100 Healthy
050100
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Directors

Directors & mandates

6 directors
Current directors & mandates
  • Breyne Gino
    Director
    State Gazette act 24170613 (03-12-2024)
    Current
    03-12-2024 → present
    7 events
    • 03-12-2024 Appointed· Director
    • 03-12-2024 Appointed· Gedelegeerd bestuurder
    • 08-10-2020 Resigned· Gedelegeerd bestuurder
    • 29-06-2018 Resigned· Gedelegeerd bestuurder
    • 29-06-2018 Appointed· Gedelegeerd bestuurder
    • 24-08-2016 Appointed· Director
    • 24-08-2016 Appointed· Gedelegeerd bestuurder
  • Frederick Flamand
    Niet statutair bestuurder
    State Gazette act 23107755 (18-08-2023)
    Current
    18-08-2023 → present
    2 events
    • 23-12-2024 Resigned· Director
    • 18-08-2023 Appointed· Niet statutair bestuurder
  • Breyne Els
    Director
    State Gazette act 22117926 (04-10-2022)
    Current
    08-10-2020 → present
    3 events
    • 04-10-2022 Appointed· Director
    • 04-10-2022 Appointed· Gedelegeerd bestuurder
    • 08-10-2020 Appointed· Gedelegeerd bestuurder
  • Breyne Karen
    Gedelegeerd bestuurder
    State Gazette act 22117926 (04-10-2022)
    Current
    24-08-2016 → present
    4 events
    • 04-10-2022 Appointed· Gedelegeerd bestuurder
    • 04-10-2022 Appointed· Director
    • 24-08-2016 Appointed· Director
    • 24-08-2016 Appointed· Gedelegeerd bestuurder
Historic, not recently confirmed (2)
These mandates remain open in the register but have not been confirmed by a new act in over six years. They do not count as active directors.
  • BVBA Seal-ItLegal entity
    Gedelegeerd bestuurder
    State Gazette act 18101496 (29-06-2018)
    Not recently confirmed
    last confirmed in an act from 2018
  • Degraeuwe Niels
    Director
    State Gazette act 18101496 (29-06-2018)
    Not recently confirmed
    last confirmed in an act from 2018
    2 events
    • 18-08-2023 Resigned· Director
    • 29-06-2018 Appointed· Director
Permanent representatives (1)
These people represent a legal-person director (a management company, for instance). They hold no board mandate of their own and do not count as directors.
  • Gino Breyne
    Vaste vertegenwoordiger
    State Gazette act 17141732 (06-10-2017)
    Permanent representative
    06-10-2017 → present
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Statutory auditor

1 auditor
Statutory auditor IRE/IBR number Tenure
Ernst & Young Bedrijfsrevisoren BCVBA
Statutory auditor
 - - → 24-08-2016
Appointed statutory auditor from the Belgian State Gazette. The IRE/IBR number refers to the register of the Institute of Registered Auditors.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary Algemene bouw van residentiële gebouwen(41001)
Legal form Public limited company(014)
Incorporation04-12-1936
StatusActive
Postal code9090

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank
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.

Driesstraat 799090 Merelbeke-Melle

Establishment units

1 location
Driesstraat 79, 9090 Merelbeke-Melle
Groothandel in auto's en lichte bestelwagens (= 3,5 ton)
since 19362.036.136.896
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area1,074 m²
Buildings1
Building footprint348 m²
Volume (LiDAR)553 m³
Tallest building6.1 m

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
44040B0273/52C000 Flanders 1,074 m² 1 · 348 m² 6.1 m
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgisch Staatsblad · acts

10 acts
All acts · 10 updated 1 year ago
2024
23-12-2024 Flamand Frederick resigns as director Director changes
  • Flamand Frederick, Bestuurder
Summary: v3.2
03-12-2024 2 directors appointed Director changes
  • Breyne Gino, Bestuurder
  • Breyne Gino, Gedelegeerd bestuurder
Summary: v3.2
2023
19-09-2023 Articles of association amended Statutes amendment
Summary: v3.2
18-08-2023 1 director appointed, 1 resigning Director changes
  • Frederick Flamand, Niet statutair bestuurder
  • Niels Degraeuwe, Bestuurder
Summary: v3.2
2022
04-10-2022 4 directors appointed Director changes
  • Breyne Karen, Gedelegeerd bestuurder
  • Breyne Els, Bestuurder
  • Breyne Karen, Bestuurder
  • Breyne Els, Gedelegeerd bestuurder
Summary: v3.2
2020
08-10-2020 1 director appointed, 1 resigning Director changes
  • Breyne Els, Gedelegeerd bestuurder
  • Breyne Gino, Gedelegeerd bestuurder
Summary: v3.2
2018
29-06-2018 3 directors appointed, 1 resigning Director changes
  • Degraeuwe Niels, Bestuurder
  • Breyne Gino, Gedelegeerd bestuurder
  • BVBA Seal-It, Gedelegeerd bestuurder
  • Breyne Gino, Gedelegeerd bestuurder
Summary: v3.2
2017
06-10-2017 Gino Breyne appointed as vaste vertegenwoordiger Director changes
  • Gino Breyne, Vaste vertegenwoordiger
Summary: v3.2
2016
24-08-2016 4 directors appointed, 1 resigning Director changes
  • Gino Breyne, Bestuurder
  • Karen Breyne, Bestuurder
  • Gino Breyne, Gedelegeerd bestuurder
  • Karen Breyne, Gedelegeerd bestuurder
  • Ernst & Young Bedrijfsrevisoren BCVBA, Commissaris
Summary: v3.2
2004
11-06-2004 Publication in the Belgian Official Gazette, Minor change Minor change
Summary: Officer designation

Analysis

Snowflake analysis

financial profile on 5 axes
Health65Profitability100Solvency24Growth58Stability100
69 / 100

Strong profile, led by profitability.

All 5 axes are computed from data Checked has read.

Health 65
Profitability 100
Solvency 24
Growth 58
Stability 100

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Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.

Similar

Similar companies

Comparable size, same sector
We hold annual accounts for 5,317 of the 29,570 companies in this sector. 1,971 of them are within a factor 10 of this company's equity.

Company registry

Company registry (CBE)

Crossroads Bank
Activities
Algemene bouw van residentiële gebouwen41001Algemene bouw van andere niet-residentiële gebouwen41003Algemene bouw van residentiële gebouwen41201Algemene bouw van andere niet-residentiële gebouwen41203Bouwen van individuele huizen45211Optrekken van gebouwen voor industrieel of commercieel gebruik, voor landbouwdoeleinden, enz.45213
Primary activity highlighted.
Names & trade names
Legal nameNL SERCK
Registered office
Driesstraat 79 bus 101
9090 Merelbeke-Melle, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.